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EXHIBIT 7 RESOLUTION NO. 2019-xxx RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA AUTHORIZING THE ISSUANCE AND SALE OF GAS TAX REVENUE REFUNDING BONDS, SERIES 2019 TO REFINANCE OUTSTANDING OBLIGATIONS, AUTHORIZING EXECUTION OF AN INDENTURE OF TRUST, AND AUTHORIZING EXECUTION OF AND APPROVING RELATED AGREEMENTS AND OFFICIAL ACTIONS BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA, AS FOLLOWS: Section 1. The City Council of the City of Santa Ana conclusively finds, determines and declares as follows: WHEREAS, the Santa Ana Financing Authority (the "Authority") caused to be executed and delivered its $68,010,000 Gas Tax Revenue Certificates of Participation (2007 Local Street Improvement Project) (the "2007 Certificates"), pursuant to a Trust Agreement, dated December 1, 2007, by and between the Authority and the trustee named therein (the "2007 Trust Agreement'), 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 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, the 2007 Installment Sale Agreement and the pledge of the Gas Tax Revenues to make Installment Sale Payments thereunder; and 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 gas tax revenue refunding bonds for the purpose of prepaying the 2007 Certificates and to prepay the 2007 Installment Sale Agreement, and to that end the City Council desires to approve and authorize the issuance of its City of Santa Ana Gas Tax Revenue Refunding Bonds, Series 2019 (the "Bonds") for such purposes; and WHEREAS, the City is authorized pursuant to the provisions of Articles 10 and 11 of Chapter 3 of Part 1 of Division 2 of Title 5 of the California Government Code, commencing with Section 53570 et seq. and Section 53580 et seq. of said Code (the "Bond Law"), to issue the Bonds for the purpose of refunding any outstanding indebtedness of the City which is payable from the revenues of the gas tax fund, and the City Council has determined that it is in the interests of the City at this time to provide for Resolution No. 2019-xxx Page 1 of 6 55394.00055\32329888.4 #13276v2 55A-5