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Board Consideration of Resolution to Establish Public Financing Authority <br />May 7, 2024 <br />Page 3 <br />4 <br />2 <br />4 <br />0 <br />expenditures on capital improvements. The City, by making such a declaration, in no <br />way obligates itself to issue the bonds. <br />If the Santa Ana Public Financing Authority is created, staff recommends the Financing <br />Authority Board consider: <br />•Resolution No. 2024-XXX Resolution of the Board of Directors of the City of <br />Santa Ana Public Financing Authority Declaring its Intent to Issue Tax Exempt <br />Obligations to be Used to Reimburse the City of Santa Ana for Expenditures <br />Prior to the Issuance of Such Bonds <br />FISCAL IMPACT <br />This action will allow the City, through the issuance of bonds by the Financing Authority, <br />to finance water system capital projects. <br />EXHIBIT(S) <br />1. Resolution No. 2024-XXX Resolution of the Board of Directors of the Housing Authority <br />of the City of Santa Ana Authorizing the Creation of the City of Santa Ana Public Financing <br />Authority and Certain Other Matters Pertaining Thereto <br />2. Joint Exercise of Powers Agreement <br />Submitted By: Kathryn Downs, Executive Director of Finance and Management <br />Services <br />Approved By: Alvaro Nuñez, Acting City Manager