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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 />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 />RESOLUTION NO. R-92-00 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON <br />MAKING CERTAIN FINDINGS UNDER HEALTH AND SAFETY CODE <br />SECTION 33445 CONSENTING TO THE PAYMENT BY THE <br />REDEVELOPMENT AGENCY FOR THE CITY OF COLTON OF TAX <br />INCREMENT FUNDS FOR THE ACQUISITION7 INSTALLATION AND <br />CONSTRUCTION OF PUBLIC STREET INTERSECTION SIGNAL <br />IMPROVEMENTS ON RECHE CANYON ROAD WMCH BENEFIT THE <br />SANTA ANA RIVER REDEVELOPMENT PROJECT (1998 COLTON <br />PUBLIC FINANCING AUTHORITY TAX ALLOCATION REVENUE <br />BOND SERIES 1998A AND SERIES 1998B) <br />WHEREAS,, the Redevelopment Agency for the City of Colton (the "Agency") may <br />with the consent of the City Council of the City of Colton (the "City") pay for all or a part of <br />the cost of the installation and construction of any building, facility_, structure or other <br />improvement which is publicly owned either within or outside of the redevelopment project <br />area of the Santa Ana River Redevelopment Project (the "Project Area7) as set forth in Health <br />and Safety Code Section 33445; and <br />WHEREAS, the Agency has obtained a loan of funds from the Colton Public Finance <br />Authority (the "Authority") pursuant to the terms and conditions of a loan agreement, entitled <br />"Loan Agreement (Santa Ana River Redevelopment Project)" dated as of April 1, 1998 (the <br />" 1998 Santa Ana River Loan Agreement") which authorizes the Agency to draw certain funds <br />from the "Santa Ana River Bond Account" in an aggregate amount not to exceed <br />$41? 102�3 17. 0 1. as a loan from the Authority and the Agency may use and apply the proceeds <br />of such loan of funds which it may draw from the Santa Ana River Bond Account for any of <br />the purposes authorized under Section 3.09 of the 1998 Santa Ana River Loan Agreement, <br />including for the purpose of paying for the cost of the installation and construction of <br />buildings, facilities, structures or other improvements which are publicly owned and situated <br />within or of benefit to the redevelopment project area of the Santa Ana River Redevelopment <br />Project; and <br />COLT/0001/fM/355 <br />11/16/00 930 JMM <br />