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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 />271 <br />RESOLUTION NO. R-127-90 <br />RESOLUTION OF THE CITY COUNCIL OF <br />THE CITY OF COLTON, CALIFORNIA <br />APPROVING THE FORM OF A BOND PUR- <br />CHASE AGREEMENT WITH RESPECT TO AND <br />AWARDING BONDS OF COMMUNITY FACILI- <br />TIES DISTRICT NO. 90-1 (MOUNT VERNON <br />CORRIDOR) IN THE AGGREGATE PRINCIPAL <br />AMOUNT OF NOT TO EXCEED $10,000,000 <br />AND APPROVING A PRELIMINARY OFFICIAL <br />STATEMENT AND AUTHORIZING PREPARA- <br />TION OF A FINAL OFFICIAL STATEMENT <br />WITH RESPECT TO SUCH BONDS <br />WHEREAS, the City Council (the "City Council") of the <br />City of Colton, California (the "City") intends to issue special <br />tax bonds of Community Facilities District No. 90-1 (Mount Vernon <br />Corridor) of the City (the "Community Facilities District") in the <br />aggregate principal amount of not to exceed $10,000,000 for the <br />construction, acquisition and installation of certain public <br />facilities for the benefit of the Community Facilities District <br />(the "Bonds"); and <br />WHEREAS, there has been presented to the City Council a <br />form of Bond Purchase Agreement (the "Purchase Agreement") <br />providing for the sale of the Bonds to Chilton & O'Connor, Inc., as <br />underwriter (the "Underwriter"), on the terms therein set forth; <br />and <br />WHEREAS, the City Council has determined that the terms <br />set forth in the Purchase Agreement are acceptable, and that it is <br />in the best interests of the Community Facilities District that the <br />Bonds in an aggregate principal amount not to exceed $10,000,000 be <br />awarded to the Underwriter on the terms set forth in the Purchase <br />Agreement; and <br />2811 WHEREAS, there has also been presented to the City <br />