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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 />2811, <br />RESOLUTION NO. R-46-95 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />COLTON AMENDING A LOAN AND REPAYMENT AGREEMENT TO <br />THE REDEVELOPMENT AGENCY FOR THE CITY OF COLTON <br />AND AUTHORIZING THE CITY MANAGER TO EXECUTE THE <br />AMENDED AGREEMENT FOR THE COOLEY RANCH <br />REDEVELOPMENT PROJECT AREA <br />WHEREAS, the Redevelopment Agency for the City of Colton <br />("Agency") is authorized by California Health and Safety Code <br />Section 33601 to borrow money or accept financial assistance from <br />any other public agency for any redevelopment project within its <br />area of operations; and <br />WHEREAS, the City Council of the City of Colton is authorized <br />by California Health and Safety Code Section 33610 to appropriate <br />to the Agency such amounts as necessary for the administrative <br />expenses and overhead of the Agency. <br />WHEREAS, the Redevelopment Agency did enter into an Agreement <br />for Loan and Repayment with the City of Colton on July 6, 1993; <br />and <br />WHEREAS, the Redevelopment Agency requests an extension of the <br />term for repayment of loan proceeds to be no later than June 30, <br />1996, or sooner should funds become available. <br />NOW, THEREFORE, BE IT RESOLVED that the City Council of thee, <br />City of Colton hereby approves an Amended Agreement for Loan and <br />Repayment ("Amended Agreement") to the Redevelopment Agency for <br />the City of Colton for expenses related to the Conversion of the <br />Rancho Mediterrania Mobilehome Park to be repaid upon such terms <br />and conditions as are set forth in the Amended Agreement attached <br />and incorporated hereby as Exhibit "A" which shall be and is <br />