2007 RES R-40-07 - Laserfiche WebLink

Browse Search

it2 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-40-07 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON, CALIFORNIA, APPROVING AMENDMENT NO. 2 TO MT. VERNON CORRIDOR 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 Mt. Vernon Corridor Public Works Projects Funding and Construction Management Agreement dated as of June 4, 2002 and Amendment No.1 to Mt. Vernon Corridor Public Works Projects Funding and Construction Management Agreement (the "Funding and Construction Management Agreement') pursuant to which the Agency agreed (i) to withdraw certain funds in an aggregate amount of $2,349,697 from the "Mt. Vernon Bond Account" established in connection with the issuance by the Colton Public Financing Authority of certain tax allocation bonds and (ii) to deposit such funds in the "Mt. Vernon 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 Redevelopment Project Area and described in Section 2 of the Funding and Construction Management Agreement; and WHEREAS, Section 4 of the original Funding and Construction Management Agreement, provided for completion of the Fairway Street Widening project by January 31, 1 2003; and 1 31, 2003; and WHEREAS, the Fairway Street Widening project was not completed by January 1