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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 />RESOLUTION NO. R-94-00 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />COLTON APPROVING AND CONF G THE REPORT <br />ON THE LEVY OF REASSESSMENTS AND THE <br />REFUNDING OF ITS LIMITED OBLIGATION REFUNDING <br />BONDS <br />WHEREAS, the City Council of the City of Colton (the "City"), by proceedings <br />duly had and taken, previously provided for the issuance of its Limited Obligation <br />Improvement Bonds, Assessment District No. 94-1 (Rancho Mediterrania Public <br />Improvements Project) (the "Prior Bonds"), under and pursuant to the provisions of the <br />Municipal Improvement Act of 1913 (Division 12 of the California Streets and Highways <br />Code) (the "Act") and the Improvement Bond Act of 1915 (Section 8500 et seq. of the <br />California Streets and Highways Code) (the "Bond Law"), the unmatured portions of which are <br />now outstanding; and <br />WHEREAS, this City Council has determined to issue refunding bond <br />I (the"Refunding Bonds") for the purpose of refunding the unmatured portion of the Prior Bonds <br />under and pursuant to the conditions and terms of the Refunding Bond Act of 1984 for 1915 <br />Improvement Act Bonds, (being Division 11.5 of the California Streets and Highways Code) <br />(the "Refunding Act") and to provide for the levy and collection of reassessments as security <br />for the Refunding Bonds; and <br />WHEREAS) the City Council referred the matter of the refunding of the Prior <br />Bonds and the levy and collection of reassessments as security for the Refunding Bonds to <br />NB S Government Finance Group (the "Reassessment Engineer"), as the qualified engineer in <br />these proceedings, and directed the Reassessment Engineer to prepare and rile with the City a <br />report in writing containing the matters specified in Section 9523 of the Refunding Act; and <br />WHEREAS, said Reassessment Engineer has prepared and filed with the City <br />Clerk a report in writing containing the matters required by Section 9523 of the Refunding Act, <br />which said report was presented by the City Clerk to this City Council for consideration; and <br />