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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 has considered the terms of the transaction as contemplated <br />herein and desires at this time to approve the terms of said transaction in the public <br />interest of the City. <br />NOW, THEREFORE, THE CITY OF COLTON DOES HEREBY RESOLVE AS <br />FOLLOWS: <br />Section 1. The foregoing recitals are true and correct and are incorporated herein <br />by this reference. <br />Section 2. The City approves making a loan to the Agency under the terms <br />outlined in the Promissory Note. <br />Section 4. The findings and determinations herein shall be final and conclusive. <br />This Resolution shall take effect upon the date of its adoption. <br />PASSED, APPROVED and ADOPTED this 16th day of September, 2003. <br />ATTE <br />ri"a) — <br />CAROLINA P. BARRERA <br />City Clerk <br />"►--� <br />KELLY J ASTAIN <br />Mayor Pro Tempore <br />K <br />