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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. 4390 <br />A RESOLUTION OF THE CITYCOUNCIL <br />CITY COUNCIL <br />OF COLTON DECLARING THE <br />TO BE THE BOARD OF DIRECTORS AUTHORITY OF THE <br />OF THE <br />INDUSTRIAL DEVELOPMENT A <br />CITY OF COLTON AND ESTABLISHING FES FOR <br />OR <br />THE ADMINISTRATIVE PROCESSING <br />APPLICATIONS <br />WHEREAS, the City of Colton (the "City") has found <br />that the Industrial Development Authority of the City of <br />Colton (the "Authority") was needed and has further declared <br />by ordinance the Authority to be functioning and organized in <br />accordance with and for the purposes set forth in the <br />California Industrial Development Financing Act, being <br />Title 10, commencing with Section 91500 of the Government <br />Code of the State of California (the "Act") ; and <br />WHEREAS, Section 91523 of the Act provides that the <br />City Council may, at its sole discretion, declare itself to <br />be the Board of Directors of the Authority. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL <br />OF THE CITY OF COLTON AS FOLLOWS: <br />Section 1. Board of Directors. This City Council <br />is declared to be the Board of Directors of the Authority <br />unless and until changed in accordance with provisions of the <br />Act. <br />Section 2. Expenses. The Board of Directors shall <br />be reimbursed for actual and necessary expenses incurred in <br />the performance of their duties. <br />Section 3. Administration Fees. A fee shall be <br />assessed in connection with the processing of applications <br />I <br />