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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 />Proposal received is considered to best serve the interests of <br />the property owners and future residents within the boundaries <br />of the District and should be accepted. <br />NOW, THEREFORE, IT IS HEREBY RESOLVED AS FOLLOWS: <br />SECTION 1. That the above recitals are all true and <br />correct. <br />SECTION 2. That the written Proposal received from <br />SUTRO & COMPANY <br />relating to the purchase of certain special tax Community Facili- <br />ties District bonds designated as CITY OF COLTON, COMMUNITY <br />FACILITIES DISTRICT NO. 89-1 (PACIFIC SUMMIT), SPECIAL TAX <br />BONDS, is hereby accepted and approved. <br />SECTION 3. That said sale of bonds is subject to all the <br />terms and conditions as set forth in the Resolution of Necessity <br />to incur indebtedness, the Resolution authorizing the issuance <br />of bonds and the accepted Proposal, the Bond Indenture, and all <br />other bond authorization documentation. <br />SECTION 4. The City Manager is hereby authorized and <br />directed to immediately cause bonds to be printed, and the City <br />Manager shall cause said bonds signed and delivered to said <br />purchaser upon the receipt of the amount of monies due pursuant <br />to said Proposal and upon the performance of all conditions as <br />set forth in said Proposal. <br />SECTION 5. That the interest rate and/or rates on said <br />bonds be fixed at the rate and/or rates as set forth in the <br />accepted Proposal. <br />