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ITEM #1 <br />CITY OF COLTON <br />AGENDA REPORT <br />FOR COUNCIL MEETING OF JANUARY 16, 2007 <br />TO: HONORABLE MAYOR AND CITY COUNCIL <br />FROM: Director of Water/Wastewater & City Attorney <br />SUBJECT: (1) Public Hearing - Pursuant to Section 147(f) of the <br />Internal Revenue Code of 1986, to hear, consider and <br />approve the proposed issuance by the California <br />Municipal Finance Authority of one or more series of <br />revenue bonds in an aggregate principal amount not to <br />exceed $100,00,000 (the 'Bonds") for the acquisition, <br />construction, equipping and/or rehabilitation of a project <br />which will produce electricity by the treatment and <br />recycling of biosolids which are created as a byproduct of <br />the treatment of municipal sewage, together with related <br />facilities, to be located at 1201 S. Rancho Avenue, Colton, <br />CA 92324 (the "Project"); and <br />(2) Consideration of Resolution authorizing the City of <br />Colton to become a member of California Municipal <br />Finance Authority, a joint powers authority <br />(3) Consideration of property and construction lease <br />agreement between the City of Colton and Biosoils of <br />Southern California, LLC, over property located at 1201 S. <br />Rancho Avenue to permit construction and operation of <br />the Biosolids Project <br />DATE: January 10, 2007 <br />BACKGROUND: <br />