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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-128-89 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />COLTON, CALIFORNIA, AUTHORIZING PRELIMINARY <br />ISSUANCE OF BONDS OF A COMMUNITY FACILITIES <br />DISTRICT <br />WHEREAS, the CITY COUNCIL of the CITY OF COLTON, CALIFORNIA <br />(hereinafter referred to as the "legislative body of the local <br />Agency") has heretofore undertaken proceedings and declared the <br />necessity to issue bonds on behalf of a Community Facilities <br />District pursuant to the terms and provisions of the "Mello -Roos <br />Community Facilities Act of 1982", being Chapter 2.5, Part 1, <br />Division 2, Title 5 of the Government Code of the State of <br />California. Said Community Facilities District is designated <br />and known as COMMUNITY FACILITIES DISTRICT NO. 89-1 (PACIFIC <br />SUMMIT) (hereinafter referred to as the "District"); and, <br />WHEREAS, pursuant to law an election was held and the <br />following proposition was approved by more than 2/3's of the <br />voters voting at said election: <br />PROPOSITION A <br />CITY OF COLTON, COMMUNITY FACILITIES DISTRICT NO. 89-1 <br />(PACIFIC SUMMIT), AUTHORIZATION TO INCUR BONDED INDEBTED- <br />NESS AND AUTHORIZATION FOR SPECIAL TAX LEVY <br />Shall Community Facilities District No. 89-1 1 1 1 <br />(Pacific Summit), City of Colton, be authorized YES <br />to 1) incur a bonded indebtedness in an amount <br />not to exceed $5,000,000 to be paid by special <br />taxes established by the District, with interest NO <br />rates not exceeding the maximum authorized by <br />law at the time of issuance, to finance the construction, acqui- <br />sition or rehabilitation of street improvements, water and sewer <br />lines, landscaping and utilities, including appurtenances and <br />appurtenant work, the acquisition of a school and park site and <br />right-of-way where necessary, and the construction and installa- <br />tion of park facilities, 2) to levy special taxes to pay for <br />said facilities and provision of police services in addition to <br />