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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 />WHEREAS, the City and the Agency entered into that certain Santa Ana River Public <br />Works Projects Funding and Construction Management Agreement, dated as of March 20, <br />2001, and its Amendment No. 1, dated as of June 4, 2002 (collectively the "Funding and <br />Construction Management Agreement'), pursuant to which the Agency agreed (i) to withdraw <br />certain funds in an aggregate amount of $1,327,100 from the "Santa Ana River Bond <br />Account" established in connection with the issuance by the Colton Public Financing <br />Authority of certain tax allocation bonds and (ii) to deposit such funds in the "Santa Ana River <br />Projects Special Fund" established pursuant to the Funding and Construction Management <br />Agreement (the "Special Fund"), for the purpose of paying the cost of the installation and <br />construction of certain public improvement projects situated in or of benefit to the Santa Ana <br />Redevelopment Project Area, all as described in Section 2 of the Funding and Construction <br />Management Agreement; and <br />WHEREAS, all of the improvements recommended by the CAC, thereafter, prioritized <br />by the Agency on December 7, 1999, and made a part of the Santa Ana River Public Works <br />Projects Funding and Construction Management Agreement and its Amendment No. 1, have <br />been substantially completed or eliminated; and <br />WHEREAS, the City Engineer has identified other public improvement projects in the <br />Santa Ana River Redevelopment Project Area to be installed and constructed; and <br />WHEREAS, the installation and construction of the public improvement projects <br />identified by the City Engineer and more fully described in this Resolution shall implement <br />the Redevelopment Plan for the Santa Ana River Project Area and assist with the elimination <br />of blighting conditions within the redevelopment project area; and <br />WHEREAS, the Agency, with the consent of the City, may draw available funds from <br />the Santa Ana River Loan Account to pay for the installation and construction of the public <br />improvement projects described in this Resolution. <br />oil <br />