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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-14-90 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY <br />OF COLTON, CALIFORNIA APPROVING THE FORMS OF <br />A SECOND AMENDED AND RESTATED REMARKETING <br />AGREEMENT AND FIRST SUPPLEMENTAL INDENTURE, <br />APPOINTING AN INDEXING AGENT RELATING TO THE <br />CITY'S VARIABLE RATE MULTIFAMILY MORTGAGE <br />REVENUE BONDS (FIRST NATIONWIDE SAVINGS PRO- <br />GRAM) 1985 SERIES A AND OTHER MATTERS RELAT- <br />ING THERETO <br />WHEREAS, Chapter 7 of Part 5 of Division 31 of the <br />Health and Safety Code of the State of California (the "Act") <br />authorizes cities and counties to incur indebtedness for the <br />purpose of financing the construction or development of mul- <br />tifamily rental housing and for the provision of capital <br />improvements in connection with and determined necessary to such <br />multifamily housing; and <br />WHEREAS, the City Council of the City of Colton ( the <br />"City") has determined to engage in a program of making mortgage <br />loans to owners of such multifamily rental housing pursuant to <br />the Act and has issued its City of Colton Variable Rate Multi- <br />family Mortgage Revenue Bonds (First Nationwide Savings Pro- <br />grams) 1989 Issue A (the "Bonds") pursuant to the Act and an <br />indenture dated as of April 1, 1985 (the "Indenture") by and <br />between the City and the Bank of California, National Associa- <br />tion, as trustee (the "Trustee"); and <br />WHEREAS, the Indenture provides that there shall be <br />appointed a remarketing agent to perform the obligations set <br />forth in Articles II and VIII thereof; and <br />WHEREAS, the City and the Trustee desire to appoint <br />Pacific Securities, Incorporated as remarketing agent under the <br />Indenture; and <br />