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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-39-95 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />COLTON REGARDING HOLDING OF A PUBLIC HEARING IN <br />CONNECTION WITH THE ISSUANCE OF CERTAIN <br />MULTIFAMILY MORTGAGE REVENUE REFUNDING BONDS <br />WHEREAS, the City of Colton (the "City") proposes to issue the <br />City of Colton Multifamily Mortgage Revenue Refunding Bonds (Blue <br />Mountain Terrace Project) Series 1995A, and City of Colton <br />Multifamily Mortgage Revenue Refunding Bonds (Blue Mountain <br />Terrace Project) Subordinate Series 1995B, in the aggregate <br />principal amount of not to exceed $7,000,000 (the "Bonds"); and <br />WHEREAS, the City has caused the timely publication of a <br />notice required to conduct a public hearing for the proposed <br />issuance of the Bonds by the City in accordance with <br />Section 147(f) of the Internal Revenue Code of 1986, as amended <br />(the "Code"). <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF COLTON DOES <br />HEREBY RESOLVE AS FOLLOWS: <br />Section 1. Public Hearing, Testimony and Comments. The <br />City has held a public hearing in accordance with the provisions <br />of Section 147(f) of the Code and has considered all testimony and <br />comments submitted at such public hearing in connection with the <br />proposed sale and delivery of the Bonds. <br />Section 2. Approval by City. The City, after consideration <br />of comments received at the public hearing hereby approves the <br />issuance of the Bonds. <br />Section 3. Approval by Elected Representative. It is the <br />purpose and intent of the City that this Resolution constitute <br />