2007 RES R-39-07 - Laserfiche WebLink

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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 RESOLUTION NO. R-39-07 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON, CALIFORNIA, APPROVING AMENDMENT NO. 3 TO SANTA ANA RIVER PUBLIC WORKS PROJECTS FUNDING AND CONSTRUCTION MANAGEMENT AGREEMENT WHEREAS, the City of Colton, a municipal corporation (the "City") and the Redevelopment Agency for the City of Colton, a public body corporate and politic (the "Agency") previously entered into that certain Santa Ana River Public Works Projects Funding and Construction Management Agreement, dated as of March 20, 2001, Amendment No. 1 to Santa Ana River Public Works Projects Funding and Construction Management Agreement, dated as of June 4, 2002, and Amendment No. 2 to Santa Ana River Public Works Projects Funding and Construction Management Agreement, dated as of March 2, 2004 (the "Funding and Construction Management Agreement'), pursuant to which the Agency agreed (i) to withdraw certain funds in an aggregate amount of $1,327,100 from the "Santa Ana River Bond Account" established in connection with the issuance by the Colton Public Financing Authority of the Tax Allocation Revenue Bonds, Series 1998 A and B and (ii) to deposit such funds in the "Santa Ana River Projects Special Fund" established pursuant to the Funding and Construction Management Agreement (the "Special Fund"), for the purpose of paying for the cost of the installation and construction of certain public work improvement projects situated in or of benefit to the Santa Ana River Redevelopment Project Area and described in Section 2 of the Funding and Construction Management Agreement; and WHEREAS, Section 4 of the Funding and Construction Management Agreement, provided for completion of the Washington Street Median and Landscaping by March 31, 2002; and WHEREAS, the Washington Street Median and Landscaping project was not completed by March 31, 2002; and 1