Laserfiche WebLink
1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />111 <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. R-33-04 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />COLTON, CALIFORNIA, APPROVING AMENDMENT NO. 1 <br />TO MT. VERNON CORRIDOR PUBLIC WORKS PROJECTS <br />FUNDING AND CONSTRUCTION MANAGEMENT <br />AGREEMENT <br />WHEREAS, the City of Colton, a municipal corporation (the "City") and the <br />Redevelopment Agency for the City of Colton, a public body corporate and politic (the <br />"Agency") have heretofore entered into that certain Mt. Vernon Corridor Public Works <br />Projects Funding and Construction Management Agreement dated as of June 4, 2002 (the <br />"Funding and Construction Management Agreement') pursuant to which the Agency agreed <br />(i) to withdraw certain funds in an aggregate amount of $2,349,697 from the "Mt. Vernon <br />Bond 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 "Mt. Vernon <br />Projects Special Fund" established pursuant to the Funding and Construction Management <br />Agreement (the "Special Fund"), for the purpose of paying for the cost of the installation and <br />construction of certain public work improvement projects situated in or of benefit to the Santa <br />Ana Redevelopment Project Area described in Section 2 of the Funding and Construction <br />Management Agreement; and <br />WHEREAS, the Funding and Construction Management Agreement provides <br />that in the event any funds remain in the Special Fund on or after June 15, 2005, the Agency <br />shall instruct the fiscal agent to disburse such funds to the order and account of the Agency; <br />and <br />WHEREAS, as of the date hereof, certain of the public work improvement <br />projects described in Section 2 of the Funding and Construction Management Agreement <br />have not been completed; and <br />1 <br />