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OFFICIAL STATEMENT CITY OF SANTA ANA Gas Tax Revenue Refunding Bonds, Series 2019 INTRODUCTION This introduction is not a summary of this Official Statement. It is only a brief description of and guide to, and is qualified by, more complete and detailed information contained in the entire Official Statement, including the cover page and appendices hereto, and the documents summarized or described herein. A full review should be made of the entire Official Statement. The offering of the Bonds to potential investors is made only by means of the entire Official Statement. Capitalized terms not defined herein have the meanings specified in the Indenture. City of Santa Ana. The City of Santa Ana (the "City"), county seat of the County of Orange (the "County'), is one of the oldest communities in Southern California. The City is located 33 miles southeast of Los Angeles, 20 miles east of the Ports of Los Angeles and Long Beach, ten miles inland from the Pacific Ocean and 90 miles north of San Diego. The City covers an area in excess of 27 square miles and has a current population of approximately 337,192. Interstate 5 and State Routes 22, 55 and 57 traverse the City. The City was incorporated in 1886. In 1952, the voters approved a charter which established a council-manager form of government. The City Council consists of a mayor that is elected directly for a two-year term and six -members that are elected annually at large for four-year terms. See APPENDIX G — "GENERAL INFORMATION ABOUT THE CITY OF SANTA ANA AND THE REGION," for additional information concerning the City. Authority for Issuance. The Bonds are authorized pursuant to the provisions of Sections 53570 et seq. and 53580 et seq. of the California Government Code, a resolution adopted by the City Council of the City on [November 5], 2019 (the "City Resolution'), and an Indenture of Trust, dated as of December 1, 2019 (the "Indenture'), between the City and U.S. Bank National Association, as trustee (the "Trustee'). Form of Bonds. The Bonds will be dated their date of delivery and will be issued in fully registered form, without coupons, in the minimum denominations of $5,000 or any integral multiple thereof. See "THE BONDS — General Provisions." When delivered, the Bonds will be registered in the name of The Depository Trust Company, New York, New York ("DTC'), or its nominee. DTC will act as securities depository for the Bonds. Individual purchases of Bonds will be made in book -entry form only in the principal amount of $5,000 each or any integral multiple thereof Purchasers of the Bonds will not receive certificates representing the Bonds purchased. See "THE BONDS - Book -Entry Only System" and "APPENDIX E — DTC AND THE BOOK - ENTRY ONLY SYSTEM." Purpose of the Bonds. The Bonds are being issued to provide funds to (i) to prepay the Santa Ana Financing Authority's (the "Authority') Gas Tax Revenue Certificates of Participation (2007 Local Street Improvement Program) (the "2007 Certificates'), (ii) purchase a municipal bond insurance policy and debt service reserve surety for the Bonds, and (iii) pay the costs of issuing the Bonds. See "REFUNDING PLAN." Pledge of Gas Tax Revenues. The Bonds are payable from the Gas Tax Revenues generally consisting of amounts received by the City from taxes imposed on the purchase of motor vehicle fuels and any payments, subventions or reimbursements received by the City from the State in lieu of such revenues and certain funds and accounts held under the Indenture. See "SECURITY FOR THE BONDS — Pledge of Gas Tax Revenues" and "GAS TAX REVENUES." ' Preliminary, subject to change. 55A-88