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i <br />z <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. 4389 <br />A RESOLUTION OF THE CITY COUNCIL OF THE <br />CITY OF COLTON APPROVING THE FINANCING OF <br />A MULTIFAMILY RENTAL HOUSING PROJECT <br />WHEREAS, the City Council of the City of Colton ("this <br />City Council") is authorized pursuant to Chapter 7 (commencing <br />with Section 52075) of Part 5 of Division 31 of the California <br />Health and Safety Code (the "Act") to provide assistance in <br />financing multifamily residential rental housing developments <br />within the City of Colton (the "City") ; and <br />WHEREAS, Centrepointe Associates, a California partner- <br />ship (the "Developer"), has requested assistance in financing <br />the construction of an approximately 360 -unit multifamily rental <br />housing project proposed to be located on Centrepointe Drive <br />between San Antonio Drive and the end of Centrepointe Drive in <br />the City (the "Project") ; and <br />WHEREAS, this City Council, in order to encourage and <br />foster the construction of multifamily rental housing develop- <br />ment within the City and as an aid and inducement to the Devel- <br />oper, evidenced its intention by Resolution No. 4341 adopted <br />June 21, 1983 to issue obligations in an amount not to exceed <br />$11,500,000 to provide financing for the Project subject to the <br />restrictions of said Resolution, the Act and all applicable <br />California and federal laws as they presently exist; and <br />WHEREAS, notice of a public hearing on the Project by <br />this City Council was duly published on November 25, 1983 in the <br />San Bernardino Sun Telegram, a newspaper of general circulation <br />in the City, which notice set 7:30 p.m. on December 6, 1983 and <br />