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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. 4384 <br />RESOLUTION OF THE CITY COUNCIL OF THE <br />CITY OF COLTON, CALIFORNIA, ACCEPTING <br />PROPOSAL AND MAKING AWARD FOR SALE OF <br />BONDS, AND PROVIDING FOR THE ESTABLISH- <br />MENT OF A REDEMPTION FUND FOR THE PAY- <br />MENT OF SAID BONDS <br />WHEREAS, the CITY COUNCIL of the CITY OF COLTON, <br />CALIFORNIA, has heretofore instituted and conducted proceedings <br />under the terms and provisions of the "Municipal Improvement Act <br />of 191311, being Division 12 of the Streets and Highways Code of <br />the State of California, for the construction of certain public <br />works of improvement, together with appurtenances and appurtenant <br />work, in a special assessment district known and designated as <br />ASSESSMENT DISTRICT NO. 79-1 <br />(AIRPORT COMMERCE CENTER) <br />(hereinafter referred to as the "Assessment District"); and, <br />WHEREAS, in the Resolution of Intention it was determined <br />and declared that bonds should issue under the provisions of the <br />"Improvement Bond Act of 1915", being Division 10 of the Streets <br />and Highways Code of the State of California; and, <br />WHEREAS, there has now been received, in proper form, a <br />Bond Purchase Agreement for the purchase of said bonds to issue <br />under said proceedings, and said proposal received is, in the <br />opinion of this City Council, considered to be the bid that would <br />best serve the interests of owners of land included within the <br />Assessment District and should be accepted. <br />NOW, THEREFORE, IT IS HEREBY RESOLVED AS FOLLOWS: <br />SECTION 1. That the above recitals are all true and <br />correct. <br />