Laserfiche WebLink
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 />16I <br />17 <br />18 <br />IM <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />04:1 <br />RESOLUTION NO. R-88-13 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON <br />AUTHORIZING THE LOAN AGREEMENT WITH SAN BERNARDINO <br />ASSOCIATED GOVERNMENTS FOR THE INTERSTATE 10 FREEWAY (I- <br />10)/PEPPER AVENUE INTERCHANGE PROJECT, AND AUTHORIZE THE CITY <br />MANAGER TO EXECUTE THE LOAN AGREEMENT. <br />WHEREAS, the City Council of the City of Colton desires to improve the safety of the <br />bridges and traffic circulation within City jurisdiction; and <br />WHEREAS, the City of Colton intends to improve the interchange on Interstate 10 (I- <br />10) at Pepper Avenue (PROJECT) in the City of Colton; and <br />WHEREAS, the PROJECT received federal grants through the County of San <br />Bernardino (County) to be administered by San Bernardino Associated Governments <br />(SANBAG), thus providing an opportunity to complete PROJECT at a relatively low cost to <br />the City; and <br />WHEREAS, the City of Colton is willing to participate in funding the PROJECT <br />pursuant to the provisions of the Development Mitigation Nexus Study prepared by SANBAG, <br />and approved by the SANBAG Board of Directors on November 2, 2011; and <br />WHEREAS, the City Council approved a cooperative agreement between the City, <br />County and SANBAG for the I-10 Freeway /Pepper Avenue Interchange Project on January <br />14, 2013; and <br />WHEREAS, the City needs to enter into a Loan Agreement with SANBAG to use the <br />future Measure I Local Pass -Through revenue to fund the City's Development Mitigation <br />Nexus Study for the PROJECT. <br />NOW, THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF THE <br />CITY OF COLTON DOES HEREBY RESOLVE AS FOLLOWS: <br />