Laserfiche WebLink
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 />RESOLUTION NO. R-24-97 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />COLTON, CALIFORNIA (I) APPROVING AN INSTALLMENT SALE <br />AGREEMENT, A TRUST AGREEMENT AND A CONTINUING <br />DISCLOSURE AGREEMENT; (II) AUTHORIZING THE EXECUTION <br />AND DELIVERY OF A PRELIMINARY OFFICIAL STATEMENT <br />AND AN OFFICIAL STATEMENT: AND (III) AUTHORIZING <br />CERTAIN ACTIONS IN CONNECTION THEREWITH <br />WHEREAS, the City of Colton (City) is a general law city, duly organized and existing <br />under the laws of the State of California and situated in the County of San Bernardino; and, <br />WHEREAS, the City and other public agencies have heretofore entered into a Joint Powers <br />Agreement creating the Financing Authority for Resource Efficiency of California ("FARECal') for <br />the purpose, among others, of executing, authenticating and delivering FARECal's certificates of <br />participation to be used to finance or refinance (i) activities, programs, and equipment which are <br />designed to conserve, change usage patterns of or reduce the demand for electrical or other energy <br />or capacity, natural gas or water, (ii) activities, programs and equipment which are designed to <br />utilize electrical or other energy or capacity, natural gas or water facilities more efficiently, (iii) <br />programs, equipment or facilities which are designed to transport, distribute or treat water, waste <br />water or recycled water for purposes of reuse and (iv) the planning, development, undertaking, <br />purchase, construction, repair and replacement of facilities for the transmission and distribution of <br />electrical energy; and <br />WHEREAS, it has been proposed that the City purchase certain capital improvements from <br />FARECal to assist the City in effecting a portion of its proposed capital improvements program as <br />described in Exhibit A, attached hereto (The "City's Capital Improvements Program"); and <br />WHEREAS, one of the City's Capital Improvements Programs is a project to refund the <br />outstanding bonds of the $17,585,000 Colton Public Financing Authority Revenue Bonds, 1995 <br />Series (City of Colton, California Electric System Improvements) and <br />