1998 RES R-21-98 - Laserfiche WebLink

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1 2 have informed the Authority that they intend to submit an offer 3 to purchase the 1998 Bonds and shall cause to be prepared a 4 Preliminary Official Statement and an Official Statement relating 5 to such 1998 Bonds, as may be necessary in the sale and marketing 6 of the 1998 Bonds, the form of which Preliminary Official 7 Statement is presently on file with the Secretary of the Agency; 8 and 9 WHEREAS, the City has determined to approve the issuance of ll' 10 the 1998 Bonds and the execution of the Loan Agreements and has 11 duly considered such transactions and seeks at this time to 12 approve said transactions and documents in the public interests 13 of the City and the Agency. 14 NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF COLTON, AS 15 FOLLOWS: 16 Section 1. Determinations. The City hereby finds and 17 determines that (i) the execution of the Master Indenture, (ii) 18 the issuance of the 1998 Bonds, and (iii) the execution of the 19 Loan Agreements will result in significant public benefits to the 20 City and the Agency. 21 Section 2. Issuance of the 1998 Bonds; Approval of Forms 22 of Indentures and Loan Agreements. The City hereby approves the 23 execution of the Master Indenture. The City hereby further 24 authorizes the issuance of the 1998 Bonds under and pursuant to 25 the Indentures on file with the City Clerk (the "Indentures") in 26 the aggregate principal amount not to exceed $47,000,000 and the 27 loan of the proceeds thereof to the Agency pursuant to the Loan 28 Agreements on file with the City Clerk. i�