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RESOLUTION NO. R-125-01 <br />2 A RESOLUTION OF THE CITY OF COLTON RATIFYING THAT <br />3 CERTAIN PARTICIPATION AGREEMENT BY AND AMONG THE <br />REDEVELOPMENT AGENCY FOR THE CITY OF COLTON, THE <br />4 CITY OF COLTON AND EAST VALLEY LAND COMPANY, DATED <br />AS OF AUGUST 13, 1998, AS AMENDED BY THAT CERTAIN <br />5 AMENDMENT NO. 1 TO THE PARTICIPATION AGREEMENT BY <br />AND AMONG THE REDEVELOPMENT AGENCY FOR THE CITY OF <br />6 COLTON, THE CITY OF COLTON AND EAST VALLEY LAND <br />7 COMPANY AND RATIFYING ALL PREVIOUS ACTIONS TAKEN IN <br />CONNECTION THEREWITH AND APPROVING THAT CERTAIN <br />8 AMENDMENT NO. 2 TO THE AGREEMENT <br />9 WHEREAS, the Redevelopment Agency for the City of Colton (the "Agency"), the City <br />10 of Colton ("Colton") and the East Valley Land Company ("EVLC"), entered into that certain <br />1 1 Participation Agreement, dated August 13, 1998 (the "Participation Agreement'); and <br />12 WHEREAS, the Agency, Colton and EVLC entered into that certain Amendment No. <br />13 1 to the Participation Agreement by and among the Redevelopment Agency for the City of <br />14 Colton, the City of Colton and East Valley Land Company, executed by the Agency <br />15 Chairperson on August 7, 2001 ("Amendment No. 1"); and <br />16 <br />WHEREAS, the Agency and Agency staff previously took certain actions in <br />17 <br />connection with the Participation Agreement, as amended by Amendment No. 1; and <br />18 WHEREAS, recent actions and allegations of impropriety by various Agency <br />19 Members who participated in the original approval of the Participation Agreement in 1998 <br />20 have called into question the legality and appropriateness of various Agreements approved <br />21 <br />by the City and the Agency; and <br />22 <br />WHEREAS, the City Attorney for Colton has reviewed the involvement of certain <br />23 <br />24 previous members of the governing body of the Agency and other third -parties in the original <br />25 approval of the Participation Agreement and found no indication of any wrongdoing related to <br />26 the original approval of the Participation Agreement; and <br />27 WHEREAS, the Agency, Colton and EVLC desire to confirm their relationship and the <br />28 terms and conditions of the Participation Agreement, as amended by Amendment No. 1; and <br />