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ENVIRONMENTALIMPACT <br />Approval of financing for the sports park project does not, in and of itself, have any environmental impact. The sports park <br />project agreement with Big League Dreams is not a project under the California Environmental �uality Act. The <br />agreement(s) will allow the City and the Consultant to develop site plans and environmental documentation for submittal <br />to the Community Development Department for normal project processing. The City is obligated to pertorm its <br />environmental analysis of the project to be designed and the City reserves the right to terminate the Agreement if the <br />environmental effects subsequently identified cannot be mitigated to the City's satisfaction. The Agreement is not an <br />irrevocable commitment to the project and either party may terminate under defined conditions, including the inability to <br />feasibly mitigate environmental effects. <br />Staff recommends approval of the following, categorized by legal entity: <br />City Council <br />Resolution of the City Council of the City of Colton authorizing and approving the issuance of Lease Revenue Bonds <br />2002, Series A not to exceed $7,200,000, approving a Project Lease, Lease Agreement, Agency Agreement, Preliminary <br />Official Statement, Final Official Statement, Continuing Disclosure Agreement and execution of related documents <br />thereto. <br />Colton Public Financino Authoritv <br />Resolution of the Colton Public Financing Authority authorizing and approving the issuance of Lease Revenue Bonds <br />2002 Series A, not to exceed $7,200,000, approving a Project Lease, Lease Agreement, an Assignment Agreement, and <br />Indenture, Preliminary Official Statement, Final Official Statement, Invitation of Proposals for the Purchase of the Bonds <br />and the Official Bid Form, and execution of documents related thereto. <br />REVIEW TEAM O LY <br />City Attorney: ��� Finance 1 <br />City Manager: OTHER: <br />