1989 RES R-116-89 - Laserfiche WebLink

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RESOLUTION NO. R-116-89 RESOLUTION OF INTENTION OF THE CITY COUNCIL OF THE CITY OF COLTON TO INCUR BONDED INDEBTEDNESS IN THE AMOUNT OF $9,000,000 WITHIN PROPOSED COMMUNITY FACILITIES DISTRICT NO. 89-2 WHEREAS, the City Council (the "Council") of the City of Colton (the "City") has heretofore adopted Resolution No. R-115-89, after receiving a petition signed by the owner of the real property within a proposed community facilities district hereinafter described to include the area of land described in said resolution within the hereinafter mentioned community facilities district, stating its intention to form Community Facilities District No. 89-2 of the City of Colton ("Community Facilities District No. 89-2" or "CFD No. 89-211), pursuant to the Mello -Roos Community Facilities Act of 1982, as amended, (the "Act"), to provide for the cost of police, fire protection and other services and to finance the purchase, construction, maintenance, expansion or rehabilitation of certain real and other tangible property with an estimated useful life of five years or longer, including right-of-way, real property and structures, and other governmental facilities which the City is authorized by law to construct, own or operate, which are necessary to meet increased demands placed upon the City as a result of development or rehabilitation occurring within proposed Community Facilities District No. 89-2 (the "Facilities"); and