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Council is requested to direct the first reading of the 2002 Flow of Funds Ordinance. Council is further requested to <br />direct the second reading of the 2002 Flow of Funds Ordinance at its meeting on July 2, 2002. Provided the 2002 <br />Flow of Funds Ordinance is not challenged, these actions are needed before the City can enter into the 2002 <br />Installment Purchase Agreement and before the Authority can issue the 2002 Bonds to finance the acquisition, <br />construction and installation of the Project. <br />FINANCIAL IMPACT: <br />None. <br />ENVIROMENTAL IMPACT: <br />None. <br />RECOMMENDATION: <br />Council is requested to direct the first reading of AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF <br />COLTON, CALIFORNIA, REPEALING ORDINANCE NO. 0-13-95 AND CONTINUING AN ELECTRIC <br />SYSTEM REVENUE FUND AND ACCOUNTS THEREIN AND PROVIDING FOR THE FLOW OF FUNDS <br />FROM THE ELECTRIC SYSTEM REVENUE FUND. <br />Attachment: (One Attachment) <br />REVIEW TE ONLY <br />City Attorney: Finance Director: cityl <br />Manager: OTHER: <br />