Laserfiche WebLink
CITY OF COLTON <br />AGENDA REPORT (Continued) <br />FOR COUNCIL MEETING OF NOVEMBER 15, 1994 <br />SUBJECT: CONSIDER FIRST READING OF AN ORDINANCE OF THE CITY <br />COUNCIL OF THE CITY OF COLTON, CALIFORNIA, <br />APPROVING THE ENTERING INTO OF A LEASEBACK <br />AGREEMENT (ELECTRIC SYSTEM IMPROVEMENTS) <br />FINANCIAL IMPACT <br />The financial impact as a result of the request is to provide funding for a three-year capital <br />improvement program for the Electric Utility. Without the debt issue, the electric rates would have <br />to be increased to provide revenues to complete the anticipated projects. <br />ENVIRONMENTAL IMPACT <br />There are no environmental impacts as a result of this action. <br />RECOMMENDATION <br />Staff recommends that the City Council approve the first reading of the ordinance to enter into a <br />leaseback agreement for the electric system improvements. <br />City Manager's Concurrence: <br />Page 2 of 2 Item No. <br />