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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />Counsel and Authorizing the Sale of its Multifamily Rental <br />Housing Revenue Bonds and Making Certain Findings in Connection <br />with the Issuance of Said Bonds"; and <br />WHEREAS, under and pursuant to the above resolution, <br />the Agency has authorized the issuance of $17,000,000 Redevelop- <br />ment Agency for the City of Colton Multifamily Housing Revenue <br />Bonds (Casa del Rio Project) 1986 Series A, B and C (the <br />"Bonds") for the purpose of financing the acquisition, <br />construction and equipping of a multifamily rental housing <br />project (the "Project") to be constructed by Fredericks <br />Development Corporation (the "Developer") which is to be located <br />in the Cooley Ranch Redevelopment Project No. 4; <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF <br />THE CITY OF COLTON as follows; <br />SECTION 1. AA22roval of Issuance of Bonds. The issu- <br />ance of $17,000,000 aggregate principal amount of Redevelopment <br />Agency for the City of Colton Multifamily Housing Revenue Bonds <br />(Casa del Rio Project) 1986 Series A, B and C, in order to aid <br />in the financing of the Project, is hereby authorized and <br />approved pursuant to Health and Safety Code Section 33640. <br />SECTION 2. Other Acts. The officers and staff of the <br />City are hereby authorized and directed, jointly and severally, <br />to do any and all things, to execute and deliver any and all <br />documents, which in consultation with Bond Counsel, they may <br />deem necessary or advisable in order to consummate the issuance, <br />sale and delivery of the Bonds, otherwise effectuate the <br />purposes of this Resolution, and any and all such actions pre- <br />-2- <br />