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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-87-90 <br />RESOLUTION OF THE CITY COUNCIL OF <br />THE CITY OF COLTON DETERMINING AND <br />AUTHORIZING THE ANNUAL LEVY OF TAX <br />ASSESSMENT FOR IMPROVEMENT <br />DISTRICT "A" (JAMES SULLIVAN <br />MUTUAL WATER COMPANY) <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLTON: <br />WHEREAS, the City Council of the City of Colton adopted <br />Resolution No. R-38-88, Establishing a Fiscal Structure to Repay <br />the Loan Associated with the Reconstruction of Water Facilities of <br />the James Sullivan Mutual Water Company (Improvement District "A") <br />and, <br />WHEREAS, Resolution No. R-38-88, directed the establishment <br />of a list of unpaid assessments over a 35 year amortized payment <br />schedule and the filing thereof with the Tax Assessor and the Con- <br />troller's office for the County of San Bernardino, commencing in <br />August 1988. <br />NOW, THEREFORE, be it resolved by the City Council of the <br />City of Colton as follows: <br />Section 1. Based upon the total loan amount of $370,800 <br />and the ninety-one shares of James Sullivan Mutual Water Company <br />stock outstanding. The City has determined that the amount of re- <br />quired tax to be levied per share for 1990-91 is as shown on Ex- <br />hibit "A" attached herewith. <br />Section 2. The City Clerk is instructed to file a certi- <br />fied copy of this resolution with the San Bernardino County Tax As- <br />sessor. <br />