1990 RES R-126-90 - Laserfiche WebLink

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1 2 3 4 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-126-90 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON, CALIFORNIA AUTHORIZING THE ISSUANCE OF SPECIAL TAX BONDS OF COMMUNITY FACILITIES DISTRICT NO. 90-1 (MOUNT VERNON CORRIDOR) SERIES 1990 IN AN AGGRE- GATE PRINCIPAL AMOUNT NOT TO EXCEED $10,000,000 AND APPROVING CERTAIN DOCUMENTS AND TAKING CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH WHEREAS, the City Council (the "City Council") of the City of Colton, California (the "City") has heretofore undertaken proceedings and declared the necessity to issue bonds on behalf of Community Facilities District No. 90-1 (Mount Vernon Corridor) of the City (the "Community Facilities District") pursuant to the terms and conditions of the Mello -Roos Community Facilities Act of 1982, as amended, being Chapter 2.5, Part 1, Division 2, Title 5 of the Government Code of the State of California (the "Act"); and WHEREAS, pursuant to Resolution No. R-121-90 adopted by the City Council on the 30th day of October, 1990, the bond proposition (attached as Exhibit A hereto and incorporated herein by reference) (the "Proposition A") was submitted to the qualified electors within the Community Facilities District and was unanimously approved at an election held on November 6, 1990; and WHEREAS, the City Council by its Resolution No. R-125 -90 adopted on November 6, 1990, has declared that Proposition A and Proposition B, the proposition authorizing the levy of special taxes (the "Proposition B"), presented to the qualified electors of the Community Facilities District on November 6, 1990, have received a unanimous vote of the qualified electors voting at said election and each has carried, and, accordingly, the Community