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RESOLUTION NO. 108-87 <br />A RESOLUTION OF THE CITY OF COUNCIL OF THE <br />CITY OF COLTON FIXING AND ESTABLISHING <br />THE TAX RATE FOR THE BONDED INDEBTEDNESS <br />OF THE CITY OF COLTON FOR THE 1987-88 <br />FISCAL YEAR. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLTON <br />AS FOLLOWS: <br />The tax rate necessary to be applied to taxable property <br />in the City of Colton to generate revenue to pay a portion of the <br />bonded indebtedness of the City of Colton and the expense of col- <br />lecting such amount will be fixed by the County of San Bernardino. <br />The rate is to be applied to the total value of the <br />property within the City as determined by the County Assessor and <br />applied by the County by the County auditor of the County of San <br />Bernardino. <br />This Resolution is adopted pursuant to the general laws <br />of the State of California, specifically, Chapter 292 of the <br />statutes of 1978 implementing Proposition 13. The ad valorem tax <br />rate is to retire the current year amount, $19,866, of the Gener- <br />al Obligation Bonds in the amount of $305,000, approved by ref- <br />erendum in 1965. <br />PASSED, APPROVED and ADOPTED this 18th day of August, 1987. <br />FRANK A G N LEZ <br />Mayo <br />ATTEST: <br />X� <br />HELEN A. RAMOS, CMC <br />City Clerk <br />