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RESOLUTION NO. R-124-89 <br />RESOLUTION OF THE CITY COUNCIL OF THE <br />CITY OF COLTON ACTING ON BEHALF OF <br />COMMUNITY FACILITIES DISTRICT NO. 89-2, <br />DETERMINING THE NECESSITY TO INCUR BONDED <br />INDEBTEDNESS IN THE AMOUNT OF $9,000,000 <br />WITHIN COMMUNITY FACILITIES DISTRICT NO. <br />89-2 OF THE CITY OF COLTON <br />WHEREAS, the City Council (the "Council") of the City of <br />Colton (the "City") has heretofore adopted Resolution No. R- <br />115-89 stating its intention to form Community Facilities <br />District No. 89-2 of the City of Colton ("Community <br />Facilities District No. 89-2" or "CFD No. 89-2") pursuant to <br />the Mello -Roos Community Facilities Act of 1982, as amended, <br />(the "Act"); and <br />WHEREAS, the Council has heretofore adopted Resolution <br />No. R-116-89 stating its intention to incur bonded <br />indebtedness in the amount of $9,000,000 within proposed <br />Community Facilities District No. 89-2 for the purpose of <br />financing certain public facilities ("Facilities"), to serve <br />the area within Community Facilities District No. 89-2; and <br />WHEREAS, on September 19, 1989, this Council held a <br />noticed hearing as required by law relative to the proposed <br />formation of Community Facilities District No. 89-2; and <br />WHEREAS, at said hearing all persons not exempt from the <br />special tax desiring to be heard on all matters pertaining to <br />the formation of Community Facilities District No. 89-2 were <br />heard and a full and fair hearing was held; and <br />-1- <br />