2002 AGN JUL 02 I04 - Laserfiche WebLink

Browse Search

2 3 4 5 s lE it I 1' 14 1� ]E li if V 2( 21 2: 2' 24 2° 2E 21 2E WHEREAS, in 1997, the City entered into an Installment Sale Agreement, dated as of April 1, 1997 (the "1997 Installment Sale Agreement") with the Financing Authority for Resource Efficiency of California, pursuant to which the City agreed to, make certain payments thereunder in order to facilitate the prepayment of all Purchase Payments (as such term was defined in the 1995 Installment Purchase Agreement) and certain otheramounts due under the 1995 Installment Purchase Agreement; and WHEREAS, the prepayment under the 1995 Installment Purchase Agreement and the resulting refunding of the 1995 Bonds were financed using a portion of the proceeds of the $46,565,000 Financing Authority for Resource Efficiency of California, Certificates of Participation, 1997 Series (Capital Improvements Program) (the "FARECal Bonds"); and WHEREAS, the City intends to enter into an Installment Purchase Agreement with the Authority (the "2002 Installment Purchase Agreement"), pursuant to which the City shall agree to make certain payments thereunder in order to facilitate the acquisition, construction and installation of a generation facility for its Electric System (the "2002 Project'); and WHEREAS, the 2002 Project shall be financed using proceeds of the Colton Public Financing Revenue Bonds, 2002 Series (Electric Generation Facility Project) (the "2002 Bonds"); and WHEREAS, the City desires to repeal Ordinance No. 0-13-95 and replace said Ordinance with this Ordinance, and amend and replace Chapter 3.44 of the Colton Municipal Code with this Ordinance. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF COLTON, CALIFORNIA DOES HEREBY ORDAIN AS FOLLOWS: Section 1. Definitions As used in this Ordinance, the terms that are initially capitalized and not otherwise defined herein shall have the respective meanings ascribed to them in the 2002 Installment 45180839.4 -2-