Laserfiche WebLink
RESOLUTION NO. 89-2-1, <br />As Amended on February 6, 1990 <br />RESOLUTION OF THE CITY COUNCIL OF THE <br />CITY OF COLTON ACTING AS THE LEGISLATIVE <br />HODY OF COMMUNITY FACILITIES DISTRICT NO. <br />89-2 AUTHORIZING AND PROVIDING FOR THE <br />ISSUANCE OF BONDS OF COMMUNITY FACILITIES <br />DISTRICT NO. 89-2 <br />WHEREAS, the City Council of the City of Colton <br />(hereinafter referred to as the "Legislative Body"), has <br />heretofore undertaken proceedings and declared the necessity <br />to issue bonds on behalf of a Community Facilities District <br />pursuant to the terms and provisions of the "Mello-Roos <br />Community Facilities Act of 1982," as amended, being Chapter <br />2.5, Part 1, Division 2, Title 5 of the Government Code of <br />the State of California, said Community Facilities District <br />designated and known as Community Facilities District No. <br />89-2 (the "Community Facilities District"); and <br />WHEREAS, <br />September 19, <br />by more than <br />pursuant to law a special election was held on <br />1989 and the following proposition was approved <br />2/3's of the voters voting at said election: <br />PROPOSITION NO. A: Shall Community <br />Facilities District No. 89-2 of the City <br />of Colton incur an indebtedness and be <br />authorized to issue bonds in the maximum <br />aggregate principal amount of $9,000,000 <br />with interest at a rate or rates <br />established at such time as the bonds are <br />sold in one or more series at fixed or <br />variable interest rates, however not to <br />exceed any applicable statutory rate for <br />such bonds, the proceeds of which will be <br />used to equip, modify, maintain, rehabil- <br />itate, lease, acquire, relocate, con- <br />struct or otherwise provide facilities <br />and all necessary equipment and property <br />therefor, as provided in Resolution No. <br />R-116-89 of the City Council of the City <br />of Colton and shall a Special Tax be <br />levied to pay for police, fire protection <br />and other services, the principal of and <br />interest of such indebtedness and bonds <br />and to otherwise pay to equip, modify, <br />maintain, rehabilitate, lease, acquire, <br />relocate, construct or otherwise provide <br />such facilities and services, as <br />