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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 />28 <br />WHEREAS, the City Council has previously adopted its Resolution No. R-08-00 <br />dated February 1, 2000, entitled: <br />"A RESOLUTION OF THE CITY COUNCH-. OF THE CITY OF COLTON <br />MAKING CERTAIN FINDINGS UNDER HEALTH AND SAFETY CODE <br />SECTION 33445 CONSENTING TO THE PAYMENT BY THE <br />REDEVELOPMENT AGENCY FOR THE CITY OF COLTON OF TAX <br />INCREMENT FUNDS FOR THE ACQUISITION, INSTALLATION AND <br />CONSTRUCTION OF PUBLIC IMPROVEMENTS WHICH BENEFIT THE <br />SANTA ANA RIVER REDEVELOPMENT PROJECT (1998 COLTON <br />PUBLIC FINANCING AUTHORITY TAX ALLOCATION REVENUE <br />BOND SERIS 1998A AND SERIES 1998B) )7 ; and <br />WHEREAS, since the time of adoption of City Council Resolution No. R-08-00, it <br />now appears that the City has been awarded a grant or contribution of regional transportation <br />improvement funds to pay for a larger portion of total estimated cost of the public works <br />projects identified in Section 2 (10), (11) and (12) of Resolution No. R-08-00 than was <br />originally anticipated, and that accordingly, tax increment funds of the Agency from the Santa <br />Ana River Bond Account are available to pay for other public work project items, either in <br />whole or in part; and <br />WHEREAS, the installation and construction of certain public street intersection <br />signalization improvement projects as more fully described in this Resolution (the <br />"Intersection Signal Projects") shall implement the Redevelopment Plan for the Santa Ana <br />River Redevelopment Project and assist with the elimination of blighting conditions which <br />affect the redevelopment project area; and <br />WHEREAS, the Agency with the consent of the City may draw available funds from <br />the Santa Ana River Bond Account to pay for the installation and construction of the <br />Intersection Signal Projects as described in this Resolution. <br />COLT/0001/DOC/355 2 <br />11/16/00 930 JMM <br />