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1 <br />2 used to make loans to any of its members to finance or refinance <br />3 obligations of the Agency; and <br />4 <br />5 WHEREAS, the Agency has previously entered into a Loan <br />6 Agreement with the Authority in connection with the issuance by <br />7 <br />8 the Authority of the $4,075,000 Colton Public Finance Authority, <br />9 Rancho Mediterrania Mobile Home Estates Notes, Issue of 1995 (the <br />10 "Prior Notes"); and <br />11 <br />12 WHEREAS, the Prior Notes mature on November 1, 1996, <br />13 <br />14 and the Agency desires to borrow money from the Authority in <br />15 order to pay the Prior Notes at maturity; and <br />16 <br />17 WHEREAS, the Authority proposes at this time to issue <br />18 its Colton Public Financing Authority Rancho Mediterrania Mobile <br />19 <br />^^ Home Estates Notes, Issue of 1996 (the "Notes") to provide a loan <br />211 to the Agency for said purposes in a total principal amount not <br />to exceed $4,500,000• and <br />WHEREAS, the loan to the Agency will be made by the <br />25 <br />26 Authority pursuant to that certain Loan Agreement which shall be <br />27 dated as of August 1, 1996 (the "Loan Agreement"), by and between <br />9.1 <br />- 2 - <br />