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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-126-01 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON <br />AUTHORIZING EXECUTION AND DELIVERY OF A SITE LEASE, AND LEASE <br />AGREEMENT, AND AUTHORIZING OTHER ACTIONS RELATING TO THE <br />CITY'S IMPROVEMENT OF CERTAIN PROPERTY AND ACQUISITION OF <br />EQUIPMENT <br />WHEREAS, the City Council (the "City Council") of the City of Colton (the "City") <br />determines that it is in the best interest of the City to enter into a Lease Agreement (Re <br />Property and Equipment) (the "Lease Agreement") relating to the lease purchase financing c <br />certain real property improvements (the "Improvements") to property owned by the City and th <br />acquisition of certain equipment (the "Equipment" and together with the Improvements, referre <br />to herein as the "Project"), which are described in Exhibit A hereto; and <br />WHEREAS, in order to accomplish the financing of the Project, it is necessary that <br />City enter into (i) a Site Lease (the "Site Lease") relating to the real property on which <br />Improvements will be made; and (ii) the Lease Agreement, and that certain other action <br />authorized and taken; and <br />WHEREAS, this City Council desires to authorize the financing of the Project upon <br />terms and conditions hereinafter set forth; <br />NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED BY THE C <br />COUNCIL OF THE CITY OF COLTON AS FOLLOWS: <br />Section 1. Approval of Lease Financing of Project. Subject to the provisions hereof, th <br />lease financing of the Project in a principal amount of not exceed $1,500,000 is heret <br />approved. <br />Section 2. Site Lease. The form of agreement entitled "Site Lease" presented to th <br />meeting and to be entered into between the City, as lessor, and an entity to be determined <br />set forth in Section 4 hereof, as lessee, which provides generally for the leasing of the re <br />property upon which the Improvements are to be made is hereby approved and any of tr <br />Mayor, Mayor Pro Tem or City Manager are hereby authorized and directed to execute ar <br />