1990 RES R-125-90 - Laserfiche WebLink

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1 2 3 4 5 6 7 8 9 10 11 12 13' 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 RESOLUTION NO. R-125-90 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON, CALIFORNIA, DECLARING THE RESULTS OF THE CONSOLIDATED SPECIAL ELEC- TIONS FOR COMMUNITY FACILITIES DISTRICT NO. 90-1 (MOUNT VERNON CORRIDOR) OF THE CITY OF COLTON ON THE PROPOSITIONS WITH RESPECT TO (i) INCURRING A BONDED INDEBTEDNESS IN AN AMOUNT NOT TO EXCEED $10,000,000 (ii) THE ANNUAL LEVY OF SPECIAL TAXES TO PAY PRINCIPAL OF AND INTEREST ON BONDS, AND (iii) THE ESTA- BLISHMENT OF AN APPROPRIATIONS LIMIT WHEREAS, on October 30, 1990, the City Council (the "City Council") of the City of Colton, California (the "City"), adopted Resolution No. R-120-90 determining the necessity for Community Facilities District No. 90-1 (Mount Vernon Corridor) of the City of Colton, County of San Bernardino, State of California (the "Community Facilities District"), to incur a bonded indebtedness in an amount not to exceed $10,000,000 and calling a special election on the proposition of incurring such a bonded indebtedness for November 6, 1990, and providing for the consolidation of said election with the election on the propositions with respect to the annual levy of special taxes on parcels of taxable property within the Community Facilities District to pay principal of and interest on such bonds, and the establishment of an appropriations limit for the Community Facilities District; and WHEREAS, on October 30, 1990, the City Council also adopted Resolution No. R-121-90 calling a special election for November 6, 1990, for submitting to the voters of the Community Facilities District the proposition with respect to the annual