Laserfiche WebLink
:*:/:Il 11110 <br />WHEREAS, the issuance of the Obligations shall be subject to the approval of and <br />execution by the Authority of all financing documents relating thereto to which the <br />Authority is a party; and <br />WHEREAS, the Authority and the Borrower have requested the City Council to <br />approve the issuance of the Obligations in order to satisfy the public approval <br />requirements of Section 147(f) of the Code; and <br />WHEREAS, a public hearing was held by the City Council on this 5ti' day of <br />February, 2019, at the meeting which commenced at the hour of 5:45 p.m., in the City <br />Hall Council Chamber, 22 Civic Center Plaza, Santa Ana, California 92701, following duly <br />published notice thereof in a newspaper of general circulation in the City of Santa Ana, <br />and all persons desiring to be heard have been heard; and <br />WHEREAS, it is intended that this Resolution shall comply with the public approval <br />requirements of Section 147(f) of the Code; provided, however, that this Resolution is <br />neither intended to nor shall it constitute an approval by the City Council of the Facilities for <br />any other purpose, including, but not limited to, compliance with the California <br />Environmental Quality Act (California Public Resources Code, Section 21100, et seq.) <br />("CEQA" ); <br />NOW, THEREFORE, BE IT RESOLVED, that the City Council hereby finds and <br />declares the above recitals are true and correct; and, be it <br />Section 1. The City Council hereby finds and determines that all of the recitals <br />are true and correct. The City Council, as the "applicable elected representative" of the <br />governmental unit on behalf of which the Obligations will be issued and having jurisdiction <br />over the area in which the Facilities are located, hereby approves the issuance of the <br />Obligations by the Authority, which Obligations may be tax-exempt and/or taxable as <br />approved by the Authority in its resolution, in an amount not to exceed $38,000,000 to <br />finance the cost of the Facilities. This Resolution shall constitute "issuer" approval and <br />"host" approval of the issuance of the Obligations within the meaning of Section 147(f) of <br />the Code; provided, however, that this Resolution shall not constitute an approval by the <br />City Council of the Facilities for any other purposes, including compliance thereof with <br />CEQA, nor does it constitute an approval of the underlying credit or financial structure of <br />the Obligations. The City shall not bear any responsibility for the issuance of the <br />Obligations, the tax-exempt status of the Obligations, the repayment of the Obligations or <br />any other matter related to the Obligations. <br />2 <br />7501-8 <br />