55A - RESO - GAS TAX BONDS - Laserfiche WebLink

Home Browse Search

INDENTURE OF TRUST THIS INDENTURE OF TRUST, made and entered into as of , 2019, by and between the CITY OF SANTA ANA, a municipal corporation organized and existing under the constitution and laws of the State of California (the "City"), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, with a corporate trust office in Los Angeles, California, and being qualified to accept and administer the trusts hereby created, as trustee (the "Trustee"), WITNESSETH: WHEREAS, the City issued its $68,010,000 Gas Tax Revenue Certificates of Participation (2007 Local Street Improvement Program Project) (the "2007 Certificates"), for the purpose of financing street pavement improvements for the City; and WHEREAS, the 2007 Certificates were secured in part by payments to be made under an Installment Sale Agreement (the "2007 Installment Sale Agreement'), dated as of December 1, 2007, between the City and the Santa Ana Financing Authority (the "Authority"); and WHEREAS, on November 16, 2007, the City was granted a favorable judgment in Case No. 07CCO9172 with respect to the issuance of the 2007 Certificates, the 2007 Trust Agreement, defined herein, the 2007 Installment Sale Agreement and the pledge of the Gas Tax Revenues to make Installment Sale Payments thereunder; WHEREAS, the City, after due investigation and deliberation, has determined that it is in the interests of the City at this time to provide for the issuance of its gas tax revenue refunding bonds under this Indenture for the purpose of refunding the 2007 Certificates and the 2007 Installment Sale Agreement, and to that end the City Council has heretofore adopted its Resolution No. approving and authorizing the issuance of its City of Santa Ana Gas Tax Revenue Refunding Bonds, Series 2019 (the "Series 2019 Bonds") for such purposes; WHEREAS, in order to provide for the authentication and delivery of the Series 2019 Bonds, to establish and declare the terms and conditions upon which the Series 2019 Bonds are to be issued and secured and to secure the payment of the principal thereof and of the interest and premium, if any, thereon, the City Council has authorized the execution and delivery of this Indenture; WHEREAS, all of the Series 2019 Bonds will be secured by a pledge of the Gas Tax Revenues, as defined herein, and certain other moneys and securities held by the City and the Trustee hereunder; and WHEREAS, the City has determined that all acts and proceedings required by law necessary to make the Series 2019 Bonds, when executed by the City, authenticated and delivered by the Trustee and duly issued, the valid, binding and legal special obligations of the City, and to constitute this Indenture a valid and binding agreement for the uses and purposes herein set forth, in accordance with its terms, have been done and taken; and the execution and delivery of this Indenture have been in all respects duly authorized; 55394.00055\32329348.3 55A-1 w