2002 RES R-63-02 - Laserfiche WebLink

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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Landscaping and Sidewalks) described in Section 2 of the Funding and Construction Management Agreement; and WHEREAS, the City and the Agency desire that the Funding and Construction Management Agreement be amended to provide for the availability on and after June 30, 2002, of funds in the Special Fund for paying the cost of construction and installation of the public work improvement projects described in Section 2 of the Funding and Construction Management Agreement; and WHEREAS, the City and the Agency desire that the Funding and Construction Management Agreement be amended to delete the Hunts Lane Street Lighting and Landscaping and Sidewalks project and to provide that a project or projects may be added to the public work improvement projects financed with funds in the Special Fund; and WHEREAS, pursuant to the Funding and Construction Management Agreement, the City and the Agency appointed Chicago Title Insurance Company, or a successor financial institution acceptable to each of the City and Agency, to serve as fiscal agent for the Special Fund; and WHEREAS, at this time the City and the Agency desire that Union Bank, as a successor fiscal agent to Chicago Title Insurance Company, serve as fiscal agent for the Special Fund; and WHEREAS, the City and the Agency desire to amend the Funding and Construction Management Agreement to effectuate the foregoing. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF COLTON, CALIFORNIA, DOES DETERMINE, RESOLVE AND ORDER AS FOLLOWS: Section 1. The recitals set forth above are true and correct. Section 2. The City Council hereby approves Amendment No. 1 to the Funding and Construction Management Agreement on file with the City Clerk. 27 2 SB2M:12500.1 28