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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 1 <br />24 <br />25 <br />26 <br />27 <br />28 <br />RESOLUTION NO. R-65-89 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON <br />AUTHORIZING FORMATION OF A JOINT POWERS AUTHORITY WITH <br />THE REDEVELOPMENT AGENCY FOR THE CITY OF COLTON <br />WHEREAS, the Redevelopment Agency for the City of <br />Colton (the "Agency") and the City of Colton (the "City") are <br />considering proceedings for the financing of the construction <br />and acquisition of various public improvements in or of benefit <br />to the Agency's Cooley Ranch, Santa Ana River and Downtown <br />Redevelopment Projects within the City and for the refinancing <br />of certain outstanding obligations of the Agency, and in <br />connection with such proceedings the Agency and the City propose <br />to form a joint powers authority under Section 6500 et sem. of <br />the California Government Code; <br />NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED <br />BY THE CITY COUNCIL OF THE CITY OF COLTON, CALIFORNIA AS <br />FOLLOWS: <br />Section 1. Formation of Joint Powers Authority. The <br />City Council hereby authorizes the officers and staff members of <br />the City to assist in the organization of a joint powers <br />authority between the City and the Agency, to be known as the <br />Colton Public Financing Authority. The City Council hereby <br />approves and authorizes the Mayor to execute and the City Clerk <br />to attest the Joint Exercise of Powers Agreement forming said <br />joint powers authority, in substantially the form on file with <br />the City Clerk together with any changes therein deemed <br />advisable by the City Attorney. <br />