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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-66-89 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />COLTON APPROVING THE ISSUANCE OF COLTON <br />PUBLIC FINANCING AUTHORITY REVENUE (TAX <br />ALLOCATION) BONDS, 1989 SERIES A (CAPITAL <br />IMPROVEMENT LOANS) AND 1989 SERIES B <br />(REFUNDING LOANS), THE BORROWING OF BOND <br />PROCEEDS BY THE REDEVELOPMENT AGENCY FOR THE <br />CITY OF COLTON, AND REFUNDING OF THE AGENCY'S <br />SANTA ANA RIVER REDEVELOPMENT PROJECT 1987 <br />TAX ALLOCATION AND REFUNDING BONDS AND COOLEY <br />RANCH REDEVELOPMENT PROJECT NO. 4 1986 TAX <br />ALLOCATION BONDS <br />WHEREAS, The City of Colton (the "City") and the <br />Redevelopment Agency for the City of Colton (the "Agency") have <br />heretofore entered into a Joint Exercise of Powers Agreement <br />dated May 16, 1989 establishing the Colton Public Financing <br />Authority (the "Authority") for the purpose of issuing its bonds <br />to be used to provide financial assistance to the City, the <br />Agency and any Associate Member (as defined therein); and <br />WHEREAS, the Authority proposes to issue its Revenue <br />(Tax Allocation) Bonds, 1989 Series A (Capital Improvement <br />Loans) and its Revenue Bonds, 1989 Series B (Refunding Loans) in <br />an aggregate principal amount of not to exceed $35,000,000 <br />(collectively, the "Bonds") for the purpose of providing funds <br />to make five loans (collectively, the "Loans") to the Agency in <br />an aggregate principal amount of not to exceed $35,000,000 <br />pursuant to (i) a Santa Ana River Loan Agreement among the <br />Authority, the Agency and Seattle -First National Bank, as <br />trustee (the "Trustee") (the "Santa Ana River Loan Agreement"), <br />relating to the Santa Ana River Redevelopment Project of the <br />Agency for the purpose of refunding the Agency's outstanding <br />Santa Ana River Redevelopment Project 1987 Tax Allocation and <br />