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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 />RM <br />RESOLUTION NO. R-59-92 <br />A RESOLUTION OF THE CITY COUNCIL OF THE <br />CITY OF COLTON PROVIDING FOR THE CITY'S <br />PARTICIPATION IN A PROGRAM BY THE SAN BERNARDINO <br />COUNTY TRANSPORTATION AUTHORITY TO FINANCE <br />CERTAIN TRANSPORTATION PROJECTS, AND OTHER <br />MATTERS RELATED THERETO <br />WHEREAS, the San Bernardino County Transportation <br />Authority (the "Authority") proposes to fund certain trans- <br />portation projects (the "Projects") in the County of San <br />Bernardino (the "County") as described in Ordinance No. 89-1 <br />and as amended in Ordinance No. 90-1, the Transportation <br />Expenditure Plan and Retail Transactions and Use Tax <br />Ordinance (the "Ordinance") heretofore adopted by the <br />Authority and approved by the qualified voters of the <br />County; and <br />WHEREAS, the Authority proposed to issue and sell <br />bonds (the "Bonds") backed by a pledge of sales tax revenues <br />to finance a portion of the Projects, and all costs and <br />estimated costs incidental to, or connected with, the con- <br />struction and financing of this portion of the Projects; and <br />WHEREAS, the City is a member of the Authority; and <br />WHEREAS, the City hereby determines that it is <br />desirable to participate with the Authority in the Authority's <br />proposed financing and hereby expresses its intent to <br />participate in such financing; <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL <br />IOF THE CITY OF COLTON AS FOLLOWS: <br />