1989 RES R-116-89 - Laserfiche WebLink

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the issuance of the bonds and all other costs necessary to finance the Facilities which are permitted to be financed pursuant to the Act. Section 4. It is the intent of the Council to authorize the sale of bonds in one or more series, in the maximum aggregate principal amount of $9,000,000 at a maximum inter- est rate not in excess of 12 percent per annum or such rate not in excess of the maximum rate permitted by law at the time the bonds are issued. The term of the bonds shall be determined pursuant to a resolution of the Council authoriz- ing the issuance of the bonds, but such term shall in no event exceed 40 years or such longer term as is then permit- ted by law. Section 5. A public hearing (the "Hearing") on the proposed debt issue shall be held on September 19, 1989 at 7:30 o'clock p.m. or as soon thereafter as practicable, at the City of Colton Civic Center, 650 North La Cadena Drive, Colton, California, 92324. Section 6. At the time and place set forth above, any interested persons, including all persons owning land or registered to vote within proposed Community Facilities District No. 89-2, may appear and be heard at the Hearing. Section 7. The Clerk of the Board is hereby directed to publish a notice ("Notice") of the Hearing pursuant to Section 6061 of the Government Code in a newspaper of general circulation in proposed Community Facilities District No. -3-