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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 />151 <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 />NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF COLTON, <br />AS FOLLOWS: <br />Section 1. Approval of the Authority Notes and Loan. <br />The City hereby approves the issuance by the Authority of its <br />Notes in a total principal amount of not to exceed $4,500,000 for <br />the purpose of providing funds to make a certain loan (the <br />"Loan") to the Agency in order to pay the Prior Notes. The City <br />hereby further approves the Loan to the Agency and the borrowing <br />of funds by the Agency for said purposes. <br />Section 2. Official Actions. The Mayor, the City <br />Manager, the City Clerk, and any and all other officers of the <br />City are hereby authorized and directed, for and in the name and <br />on behalf of the City, to do any and all things and to take any <br />and all actions, including execution and delivery of any and all <br />assignments, certificates, requisitions, agreements, notices, <br />consents, warrants and other documents which they, or any of <br />them, may deem necessary or advisable in connection with the <br />execution and delivery of the Notes, the borrowing by the Agency, <br />and the consummation of the transaction described herein. <br />- 4 - <br />