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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />E:1 <br />41 <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 />loan to the Agency under that certain Loan Agreement dated as of <br />May 15, 1989 (the "1989 Loan Agreement"); and <br />WHEREAS, the Authority also issued its Colton Public <br />Financing Authority 1997 Bond Anticipation Notes (Santa Ana River <br />Redevelopment Project Area Subordinate Loan) (the "1997 Notes" <br />and with the 1989 Bonds the "Prior Bonds"); and <br />WHEREAS, the Agency has requested that the Authority assist <br />the Agency with the refunding of the Prior Bonds, and the <br />redevelopment of certain low and moderate housing projects and <br />certain other projects within the Agency's Santa Ana River 11 <br />Project Area and Cooley Ranch Project Area; and <br />WHEREAS, the Authority has agreed to make certain loans (the <br />"Loans") to the Agency under and pursuant to the Santa Ana River <br />Loan Agreement, the Cooley Ranch Loan Agreement and the Housing <br />Fund Loan Agreement each dated as of March 1, 1998 (the "Loan <br />Agreements") by and between the Authority and the Agency; and <br />WHEREAS, in order to make said Loans the Authority has <br />determined to issue its not to exceed in aggregate $47,000,000 <br />Tax Allocation Revenue Bonds Series 1998 A (Redevelopment Agency <br />for the City of Colton Redevelopment Projects) and Tax Allocation <br />Revenue Bonds Series 1998 B (Redevelopment Agency for the City of <br />Colton Redevelopment Projects) (the "1998 Bonds") pursuant to and <br />secured by the Master Indenture and a First Supplemental <br />Indenture of Trust dated as of March 1, 1998 (collectively the <br />"Indentures") ; and <br />WHEREAS, Stone & Youngberg, LLC and Piper Jaffray, Inc., as <br />prospective underwriters of the 1998 Bonds (the "Underwriters") <br />- 2 - <br />