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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. CPFA 2005-01 <br />RESOLUTION OF THE BOARD OF DIRECTORS OF THE COLTON <br />PUBLIC FINANCING AUTHORITY AUTHORIZING THE ISSUANCE OF ITS <br />2005 TAXABLE -REVENUE NOTE IN THE AGGREGATE PRINCIPAL <br />AMOUNT OF NOT TO EXCEED $5,000,000 IN CONNECTION WITH THE <br />FINANCING OF VARIOUS PUBLIC CAPITAL IMPROVEMENTS <br />AUTHORIZING AND DIRECTING EXECUTION OF A LEASE AGREEMENT, <br />AUTHORIZING THE SALE OF THE NOTE, APPROVING A DEPOSITORY <br />AGREEMENT AND A PURCHASE AGREEMENT AND THE EXECUTION <br />OF RELATED DOCUMENTS AND AUTHORIZING CITY OFFICIALS TO <br />ESTABLISH FINAL TERMS AND CONDITIONS OF THE NOTE <br />WHEREAS, the Colton Public Financing Authority (the "Authority") has been formed <br />pursuant to a Joint Exercise of Powers Agreement by and among the City of Colton (the <br />"City") and the Colton Redevelopment Agency and is authorized under said Agreement and <br />under the laws of the State of California to finance the acquisition and construction of public <br />capital improvements for the City; and <br />WHEREAS, the City has requested the Authority to issue a note for the purpose of <br />providing funds to enable the City to finance certain public capital improvements of benefit to <br />the City (the "Project"); and <br />WHEREAS, to provide such financing for the Project the Authority proposes to issue <br />its revenue note in an aggregate principal amount of not to exceed $5,000,000 (the "Note") <br />under this Resolution and the provisions of Article 4 (commencing with Section 6584) of <br />Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the <br />"Act"), which are proposed to be payable from the revenues to be derived by the Authority <br />from lease payments to be made by the City for the lease of certain sites and facilities <br />pursuant to a lease agreement (the "Lease Agreement"); and <br />WHEREAS, the proceeds of the Note shall be deposited under a Depository <br />Agreement which is hereinafter approved, will be applied by the Authority and the City to the <br />acquisition, construction and installation of the Project pursuant to an Agency Agreement <br />between the Authority and the City; and <br />RVPUB\KAS\692014.1 <br />A-1 <br />