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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <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-13-89 <br />RESOLUTION OF THE CITY COUNCIL OF THE <br />CITY OF COLTON, CALIFORNIA, ACCEPTING <br />PROPOSAL AND MAKING AWARD FOR SALE OF <br />BONDS IN A COMMUNITY FACILITIES 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 instituted proceedings, held a public hearing, <br />conducted an election and has authorized the sale of bonds under <br />the terms and provisions of the "Mello -Roos Community Facilities <br />Act of 1982", being Chapter 2.5, Part 1, Division 2, Title 5 of <br />the Government Code of the State of California. This Community <br />Facilities District shall hereinafter be referred to as <br />COMMUNITY FACILITIES DISTRICT NO. 88-1 (hereinafter referred to <br />as the "District"); and, <br />WHEREAS, it was determined by this legislative body that it <br />was necessary to incur a bonded indebtedness to pay for all or a <br />portion of public capital facilities of said District, and the <br />proposition relating to the incurring of a bonded indebtedness <br />has received a favorable 2/3's vote of the qualified electors <br />voting at the authorized election; and, <br />WHEREAS, it is the determination of this legislative body <br />that the sale of the bonds at private sale, without advertising <br />for bids, will result in a lower overall cost to the District; <br />and, <br />WHEREAS, there has now been received, in proper form, a <br />proposal (hereinafter referred to as "Proposal") for the <br />purchase of bonds to issue under these proceedings, and said <br />