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1 <br />2'' <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />E <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 />RESOLUTION NO. .R-116-88 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />COLTON MAKING FINDINGS WITH RESPECT TO SPE- <br />CIAL FUND BENEFITS AND OBLIGATIONS RELATING <br />TO THE CITY'S PROPOSED LEASE PURCHASE <br />FINANCING OF A CORPORATION YARD AND RELATED <br />IMPROVEMENTS AND EQUIPMENT, AUTHORIZING THE <br />EXECUTION AND DELIVERY BY THE CITY OF A LEASE <br />AGREEMENT, SITE LEASE, TRUST AGREEMENT AND <br />AGENCY AGREEMENT WITH RESPECT TO THE ISSUANCE <br />AND SALE OF CERTIFICATES OF PARTICIPATION <br />(CORPORATION YARD PROJECT), APPOINTING A <br />TRUSTEE AND AUTHORIZING THE ISSUANCE OF SUCH <br />CERTIFICATES IN AN AMOUNT OF $2,455,000. <br />WHEREAS, the City Council (the "City Council") of the <br />City of Colton (the "City") has determined that it is in the <br />best interests of the City and its citizens that the City <br />participate in the financing of the acquisition, construction <br />and installation of certain public improvements and certain <br />equipment for the City consisting generally of a corporation <br />yard, related improvements and equipment through the issuance <br />and sale of Certificates of Participation in a principal amount <br />of $2,455,000 which will be designated 111988 Certificates of <br />Participation (Corporation Yard Project)" (the "Certificates"); <br />and <br />WHEREAS, in order to accomplish the acquisition, <br />construction and installation of said public improvements and <br />equipment and the issuance and sale of the Certificates, it is <br />necessary that the City enter into a Lease Agreement, Site <br />Lease, Trust Agreement and Agency Agreement, all hereinafter <br />more particularly described and forms of which have been <br />presented to this meeting, and that certain other actions be <br />taken and authorized; and <br />