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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-74-91 <br />RESOLUTION OF THE CITY COUNCIL OF THE <br />CITY OF COLTON DETERMINING AND AUTHORIZING <br />THE ANNUAL LEVY OF TAX ASSESSMENT FOR <br />IMPROVEMENT DISTRICT "A" (JAMES SULLIVAN <br />MUTUAL WATER COMPANY). <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 <br />of the James Sullivan Mutual Water Company (Improvement District <br />"All) 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 <br />Controller's Office for the County of San Bernardino, commencing <br />in 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 <br />required tax to be levied per share for 1991-92 is as shown on <br />Exhibit "All attached herewith. <br />