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RESOLUTION NO. 2019-101 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA AUTHORIZING THE ISSUANCEAND SALE OF <br />GAS TAX REVENUE REFUNDING BONDS, SERIES 2019 <br />TO REFINANCE OUTSTANDING OBLIGATIONS, <br />AUTHORIZING EXECUTION OF AN INDENTURE OF <br />TRUST, AND AUTHORIZING EXECUTION OF AND <br />APPROVING RELATED AGREEMENTS AND OFFICIAL <br />ACTIONS <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA, AS <br />FOLLOWS: <br />Section 1. The City Council of the City of Santa Ana conclusively finds, <br />determines and declares as follows: <br />WHEREAS, the Santa Ana Financing Authority (the "Authority") caused to be <br />executed and delivered its $68,010,000 Gas Tax Revenue Certificates of Participation <br />(2007 Local Street Improvement Project) (the "2007 Certificates"), pursuant to a Trust <br />Agreement, dated December 1, 2007, by and between the Authority and the trustee <br />named therein (the "2007 Trust Agreement"), for the purpose of financing street pavement <br />improvements for the City; and <br />WHEREAS, the 2007 Certificates were secured in part by payments to be made <br />under an Installment Sale Agreement (the "2007 Installment Sale Agreement"), dated as <br />of December 1, 2007, between the City and the Authority; and <br />WHEREAS, on November 16, 2007, the City was granted a favorable judgment in <br />Case No. 07CCO9172 with respect to the issuance of the 2007 Certificates, the 2007 <br />Trust Agreement, the 2007 Installment Sale Agreement and the pledge of the Gas Tax <br />Revenues to make Installment Sale Payments thereunder; and <br />WHEREAS, the City, after due investigation and deliberation, has determined that <br />it is in the interests of the City at this time to provide for the issuance of gas tax revenue <br />refunding bonds for the purpose of prepaying the 2007 Certificates and to prepay the <br />2007 Installment Sale Agreement, and to that end the City Council desires to approve <br />and authorize the issuance of its City of Santa Ana Gas Tax Revenue Refunding Bonds, <br />Series 2019 (the "Bonds") for such purposes; and <br />WHEREAS, the City is authorized pursuant to the provisions of Articles 10 and 11 <br />of Chapter 3 of Part 1 of Division 2 of Title 5 of the California Government Code, <br />commencing with Section 53570 et seq. and Section 53580 et seq. of said Code (the <br />"Bond Law"), to issue the Bonds for the purpose of refunding any outstanding <br />Resolution No. 2019-101 <br />Page 1 of 7 <br />