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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 />RESOLUTION NO. R-117-88 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />COLTON AWARDING THE SALE OF ITS CERTIFICATES <br />OF PARTICIPATION (CORPORATION YARD PROJECT) <br />WHEREAS, the City Council of the City of Colton (the <br />"City Council") by Resolution No. R-102-88 adopted October 26, <br />1988 authorized the sale of not to exceed $2,750,000 aggregate <br />principal amount of its City of Colton certain Certificates of <br />Participation (Corporation Yard Project) (the "Certificates") to <br />finance the acquisition, construction and installation of <br />certain public improvements and equipment consisting generally <br />of a corporation yard, related improvements and equipment; and <br />WHEREAS, Resolution No. R-102-88 authorized the City's <br />financial consultant (i) to establish the final principal amount <br />of Certificates; and (ii) to publish a notice inviting bids on <br />the Certificates, which bids were to be received and considered <br />by the City Council on November 15, 1988; and <br />WHEREAS, by Resolution No. R-116-88 adopted the date <br />hereof, this City Council has approved the basic legal documents <br />pursuant to when the Certificates will be prepared, <br />authenticated and delivered, including a Lease Agreement and <br />Trust Agreement; and <br />WHEREAS, the final principal amount of the Certificates <br />was established by the City's Financial Consultant to be <br />$2,455,000 and bids for the purchase of the Certificates have <br />been received and considered by this City Council; <br />NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED <br />BY THE CITY COUNCIL OF THE CITY OF COLTON AS FOLLOWS: <br />