Laserfiche WebLink
11 <br />21 <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 />26i <br />27 <br />28 <br />RESOLUTION NO. R-49-00 <br />RESOLUTION OF THE CITY OF COLTON, CALIFORNIA, <br />APPROVING A REDEVELOPMENT COOPERATION LOAN <br />AGREEMENT WITH THE REDEVELOPMENT AGENCY <br />FOR THE CITY OF COLTON <br />WHEREAS, the Redevelopment Agency for the City of Colton (the <br />"Agency") is a public body, corporate and politic of the State of California, organized and <br />existing pursuant to the Community Redevelopment Law commencing with California <br />Health and Safety Code Section 33000; and <br />WHEREAS, the Agency has conditionally approved the funding of certain <br />traffic related improvements to be constructed in the Santa Ana River Redevelopment <br />Project of the Agency (the "Redevelopment Project Traffic Related Improvements") with <br />the proceeds of 1998 Colton Public Financing Authority Tax Allocation Revenue Bonds <br />Series 1998A and Series 1998B (the "1998 Bonds"); and <br />WHEREAS, the City of Colton (the "City") has performed a study (the <br />"Traffic Improvement Study") with respect to the use for certain projects of traffic <br />mitigation fees on deposit in the traffic fund established in the general fund of the City (the <br />"Traffic Fund") and said study identifies, among others, the Redevelopment Project Traffic <br />Related Improvements; and <br />WHEREAS, expenditures made to construct the projects identified in the <br />Traffic Improvement Study, including the Redevelopment Project Traffic Related <br />Improvements, are eligible for reimbursement from the Traffic Fund; and <br />WHEREAS, the City does not currently have on deposit in the Traffic Fund <br />sufficient monies to construct the Redevelopment Project Traffic Related Improvements; <br />and <br />1 <br />