Laserfiche WebLink
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-51-88 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON <br />AWARDING SALE OF THE BONDS OF COMMUNITY FACILITIES <br />DISTRICT NO. 87-1 IN AN AGGREGATE PRINCIPAL AMOUNT OF <br />$1,500,000, AND APPROVING AND AUTHORIZING DISTRIBUTION <br />OF AN OFFICIAL STATEMENT WITH RESPECT TO SUCH BONDS <br />WHEREAS, the City Council of the City of Colton ( the <br />"City Council") has conducted all required proceedings pursuant <br />to the Mello -Roos Community Facilities Act of 1982, Chapter 2.5 <br />(commencing with Section 53311) of Part 1 of Division 2 of <br />Title 5 of the California Government Code (the "Act"), for the <br />establishment of Community Facilities District No. 87-1, City of <br />Colton, California (the "Community Facilities District"), <br />including holding and conducting all required hearings and <br />consolidated special elections with respect to the establishment <br />of the Community Facilities District and the incurring of a <br />bonded indebtedness therefor; and <br />WHEREAS, the City Council has on this date adopted <br />Resolution No. R-52-88 (the "Resolution of Issuance"), providing <br />for the issuance of bonds of the Community Facilities District <br />(the "Bonds") on the terms set forth therein; and <br />WHEREAS, there has been presented to the City Council a <br />Proposal for Purchase of the Bonds (the "Proposal for Purchase") <br />offered by Smith Barney, Harris Upham & Co., Inc., as <br />prospective purchaser of the Bonds (the "Purchaser"), which <br />Proposal for Purchase includes provisions with respect to the <br />purchase price for the Bonds, the maturity dates for the Bonds, <br />the principal amount of the Bonds to be paid on each such <br />