1995 RES R-102-95 - Laserfiche WebLink

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1 CITY OF COLTON RESOLUTION 140. R-102-95 2 RESOLUTION OF THE CITY COU14CIL OF THE CITY OF COLTON, 3 CALIFORNIA APPROVING THE ISSUANCE OF NOT TO EXCEED $17,585,000 AGGREGATE PRINCIPAL AMOUNT OF BONDS BY THE 4 COLTON PUBLIC FINANCING AUTHORITYr APPROVING AN INSTALLMENT PURCHASE AGREEMENT, AN INDENTURE OF TRUST, 5 AN UNDERTAKING TO PROVIDE CONTINUING DISCLOSURE AND A PURCHASE CONTRACT, AUTHORIZING THE DELIVERY OF A 6 PRELIMINARY OFFICIAL STATEMENTf AUTHORIZING THE EXECUTION AND DELIVERY OF AN OFFICIAL STATEMENT, 7 APPROVING THE APPOINTMENT OF A TRUSTEEf AND AUTHORIZING CERTAIN ACTIONS IN CONNECTION THEREWITH 8 9 WHEREAS, the City of Colton (the "City") and the 10 Redevelopment Agency for the City of Colton have heretofore entered 11 into a Joint Exercise of Powers Agreement establishing the Colton 12 Public Financing Authority (the "Authority") for the purpose, among 13 others, of issuing the Authorityfs bonds to finance public capital 14 improvements of the City; and 15 WHEREAS, it has been proposed that the Authority assist the 16 City in the financing of the acquisition, replacement, construction, 17 installation and/or reconstruction of certain portions of the City's 18 electric system and related facilities, including additions and 19 improvements thereto (the "Facilities"); and 20 WHEREASf it has been proposed that the Authority acquire the 21 Facilities and that the City purchase such Facilities from the 22 Authority pursuant to an Installment Purchase Agreement, between the 23 City and the Authority (the "Installment Purchase Agreement"), the 24 proposed form of which is attached hereto, pursuant to which the city 25 will agree to make certain purchase payments with such series 26 designation as the Electric Utility Director (the "Director") and the 27 Treasurer of the City (the "Treasurer") shall determine (the "Purchase 28 Payments") in connection therewith; and LA01 \6169\23376.3 95490.2