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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />r <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 />Refunding Bonds (the "Santa Ana River Bonds") and financing <br />additional redevelopment activities of the Agency relating to <br />the Santa Ana River Redevelopment Project of the Agency, (ii) a <br />Cooley Ranch Loan Agreement among the Authority, the Agency and <br />the Trustee (the "Cooley Ranch Loan Agreement"), relating to the <br />Cooley Ranch Redevelopment Project No. 4 of the Agency for the <br />purpose of refunding the Agency's Cooley Ranch Redevelopment <br />Project No. 4 1986 Tax Allocation Bonds (the "Cooley Ranch <br />Bonds) and financing additional redevelopment activities of the <br />Agency relating to the Cooley Ranch Redevelopment Project No. 4, <br />and (iii) a Downtown Loan Agreement among the Authority, the <br />Agency and the Trustee (the "Downtown Loan Agreement"), relating <br />to the Downtown Redevelopment Project of the Agency for the <br />purpose of financing certain redevelopment activities of the <br />Agency relating to the Downtown Redevelopment Project of the <br />Agency; and <br />WHEREAS, pursuant to the Community Redevelopment Law <br />(constituting Part 1 of Division 24 of the Health and Safety <br />Code of the State of California), the Agency has authorized the <br />Loans. <br />NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED <br />BY THE CITY COUNCIL OF THE CITY OF COLTON, CALIFORNIA, that the <br />issuance of the Bonds by the Authority, the entering into of the <br />Santa Ana River Loan Agreement, the Cooley Ranch Loan Agreement <br />and the Downtown Loan Agreement by the Agency and the Loans made <br />to the Agency pursuant thereto, and the application of a portion <br />of the proceeds of the Loans to refund the Santa Ana River Bonds <br />and the Cooley Ranch Bonds be and are hereby approved. <br />-2- <br />