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 />15I <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 />ORDINANCE NO. 0-20-94 <br />AN ORDINANCE OF THE CITY OF COLTON, CALIFORNIA, <br />APPROVING THE ENTERING INTO OF A LEASEBACK <br />AGREEMENT (ELECTRIC SYSTEM IMPROVEMENTS) <br />WHEREAS, the City of Colton (the "City") and the <br />Redevelopment Agency of the City of Colton have heretofore entered <br />into a Joint Exercise of Powers Agreement establishing the Colton <br />Public Financing Authority (the "Authority") for the purpose, among <br />others, of issuing the Authority's bonds to finance public capital <br />improvements of the City; and <br />WHEREAS, it has been proposed that the Authority assist the <br />City in the financing of the acquisition, replacement, construction, <br />installation and/or reconstruction of certain portions of the City's <br />electric system and related facilities, including additions and <br />improvements thereto (the "Facilities"); and <br />WHEREAS, it is in the best interest of the Authority, the <br />City and the citizens of the City to authorize the Authority's <br />acquisition, replacement, construction, installation and <br />reconstruction of the Facilities and the City's purchase of such <br />Facilities from the Authority pursuant to an Installment Purchase <br />Agreement, between the City and the Authority (the "Installment <br />Purchase Agreement"), pursuant to which the City will agree to make <br />certain purchase payments in connection therewith; and <br />LA01 \6169\18242.3 <br />95490.2 <br />