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jmf 9/28/19 <br />RESOLUTION NO. 2019-XXX <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA AUTHORIZING THE REIMBURSEMENT OF <br />FUNDING FOR THE AUTOMATED METER <br />INFRASTRUCTURE PROJECT FROM THE STATE WATER <br />RESOURCES CONTROL BOARD <br />WHEREAS, the City of Santa Ana ("Agency") desires to finance the costs of <br />constructing and/or reconstructing certain public facilities and improvements relating <br />to its water and wastewater system, including specifically the Automated Meter <br />Infrastructure Project ("Project'); and <br />WHEREAS, the Agency intends to finance the construction and/or <br />reconstruction of the Project or portions of the Project with moneys ('Project Funds") <br />provided by the State of California, acting by and through the State Water Resources <br />Control Board ("State Water Board"); and <br />WHEREAS, the State Water Board may fund the Project Funds with proceeds <br />from the sale of obligations the interest upon which is excluded from gross income for <br />federal income tax purposes ("Obligations"); and <br />WHEREAS, prior to the issuance of the Obligations or the approval by the State <br />Water Board of the Project Funds, the Agency desires to incur certain capital <br />expenditures ("Expenditures") with respect to the Project from available moneys of the <br />Agency; and <br />WHEREAS, the Agency has determined that those moneys to be advanced on <br />and after the date hereof to pay the Expenditures are available only for a temporary <br />period, and it is necessary to reimburse the Agency for the Expenditures from the <br />proceeds of the Obligations. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of <br />Santa Ana as follows: <br />Section 1. The Agency hereby states its intention and reasonably expects <br />to reimburse Expenditures paid prior to the issuance of the Obligations or the approval <br />by the State Water Board of the Project Funds. <br />Section 2. The reasonably expected maximum principal amount of the <br />Project Funds is $10,117,365. <br />Section 3. This Resolution is being adopted no later than 60 days after the <br />date on which the Agency will expend moneys for the construction portion of the <br />Project costs to be reimbursed with Project Funds. <br />Resdution No. 2019-XXX <br />Page 1 of 3 <br />EXHIBI66 E -5 <br />