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1 <br />2 <br />3 <br />M <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />151 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />221 <br />24 <br />i <br />25 <br />261 <br />1 <br />27 <br />28 ii <br />✓ <br />RESOLUTION NO. R-52-93 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />COLTON APPROVING A LOAN TO THE REDEVELOPMENT <br />AGENCY FOR THE CITY OF COLTON AND AUTHORIZING <br />THE MAYOR TO EXECUTE THE LOAN AGREEMENT FOR THE <br />COOLEY RANCH REDEVELOPMENT PROJECT AREA <br />WHEREAS, the Redevelopment Agency for the City of Colton <br />("Agency") is authorized by California Health and Safety Code <br />Section 33601 to borrow money or accept financial assistance from <br />any other public agency for any redevelopment project within its <br />area of operations; and <br />WHEREAS, the City Council of the City of Colton is authorized <br />by California Health and Safety Code Section 33610 to appropriate <br />to the Agency such amounts as necessary for the administrative <br />expenses and overhead of the Agency. <br />NOW, THEREFORE, BE IT RESOLVED that the City Council of the <br />City of Colton he approves a loan to the Redevelopment Agency <br />for the City of Colton for expenses related to the Conversion of <br />the Rancho Mediterrania Mobilehome Park to be repaid upon such <br />terms and conditions as are set forth in the. Loan Agreement <br />attached and incorporated hereby as Exhibit "A" which shall beand <br />is hereby approved, and the Mayor is hereby authorized to execute <br />same for the City Council of the City of Colton. <br />,ADOPTED, SIGNED AND APPROVED this 6th day of July, 1993. <br />ATTEST: <br />Helen Ramos, City Clerk <br />Frank Gonzales, Mayor <br />