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55A - RESO - GAS TAX BONDS
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11/05/2019
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55A - RESO - GAS TAX BONDS
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Last modified
10/30/2019 12:55:49 PM
Creation date
10/30/2019 11:40:51 AM
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Template:
City Clerk
Doc Type
Agenda Packet
Agency
Finance & Management Services
Item #
55A
Date
11/5/2019
Destruction Year
2024
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"2007 Installment Sale Agreement" means the Installment Sale Agreement, dated as of <br />December 1, 2007, between the City and the Authority. <br />"2007 Trustee" means The Bank of New York Mellon Trust Company, N.A., as trustee <br />under the 2007 Trust Agreement. <br />SECTION 1.02 Rules of Construction. All references in this Indenture to "Articles," <br />"Sections," and other subdivisions are to the corresponding Articles, Sections or subdivisions of <br />this Indenture; and the words "herein," "hereof .. "hereunder," and other words of similar import <br />refer to this Indenture as a whole and not to any particular Article, Section or subdivision hereof. <br />Words of the masculine gender shall be deemed and construed to include correlative <br />words of the feminine and neuter genders. Unless the context shall otherwise indicate, words <br />importing the singular number shall include the plural number and vice versa, and words <br />importing persons shall include corporations and associations, including public bodies, as well as <br />natural persons. <br />SECTION 1.03 Authorization and Purpose of Series 2019 Bonds. The City has reviewed <br />all proceedings heretofore taken relative to the authorization of the Series 2019 Bonds and has <br />found, as a result of such review, and hereby finds and determines that all things, conditions, and <br />acts required by law to exist, happen and/or be performed precedent to and in the issuance of the <br />Series 2019 Bonds do exist, have happened and have been performed in due time, form and <br />manner as required by law, and the City is now authorized, as an exercise of its powers as a <br />municipal corporation under the constitution and laws of the State and pursuant to the Bond Law <br />and each and every requirement of law, to issue the Series 2019 Bonds in the manner and form <br />provided in this Indenture. Accordingly, the City hereby authorizes the issuance of the Series <br />2019 Bonds pursuant to the Bond Law and this Indenture for the purpose of providing funds to <br />refund the 2007 Certificates and 2007 Installment Sale Agreement, to fund a reserve account, <br />and to pay Costs of Issuance of the Series 2019 Bonds. <br />SECTION 1.04 Equal Security. In consideration of the acceptance of the Series 2019 <br />Bonds by the Owners thereof, this Indenture shall be deemed to be and shall constitute a contract <br />among the City, the Trustee and the Owners from time to time of the Series 2019 Bonds; and the <br />covenants and agreements herein set forth to be performed on behalf of the City shall be for the <br />equal and proportionate benefit, security and protection of all Owners of the Series 2019 Bonds <br />without preference, priority or distinction as to security or otherwise of any of the Series 2019 <br />Bonds over any of the others by reason of the number or date thereof or the time of sale, <br />execution or delivery thereof, or otherwise for any cause whatsoever, except as expressly <br />provided therein or herein. <br />ARTICLE II <br />ISSUANCE OF SERIES 2019 BONDS <br />SECTION 2.01 Terms of Series 2019 Bonds. The Series 2019 Bonds authorized to be <br />issued by the City under and subject to the Bond Law and the terms of this Indenture shall be <br />designated the "City of Santa Ana Gas Tax Revenue Refunding Bonds, Series 2019", and shall <br />55394.00055\32329348.3 55d'-2 V <br />
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