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Board Consideration of Resolutions to approve and adopt City of Santa Ana Public <br />Financing Authority Bylaws and to declare its intent to issue Lease Revenue Bonds <br />May 7, 2024 <br />Page 3 <br />4 <br />2 <br />4 <br />2 <br />For Housing Authority Board consideration: <br />•Resolution No. 2024-XXX Resolution of the Board of Directors of the Housing <br />Authority of the City of Santa Ana Authorizing the Creation of the City of <br />Santa Ana Public Financing Authority and Certain Other Matters Pertaining <br />Thereto <br />If the City Council and Housing Authority Board adopt the aforementioned resolutions, <br />then staff recommends the newly established Financing Authority Board consider: <br />•Resolution No. 2024-XXX Resolution of the Board of Directors of the City of <br />Santa Ana Public Financing Authority Approving and Adopting Bylaws, <br />Establishing Regular Meeting Dates and Authorizing Certain Other Actions in <br />Connection Therewith <br />The City Council will be asked to consider issuing bonds to finance the City’s water <br />system capital improvements at a future meeting. Until then, the City may make <br />expenditures related to design and construction costs. The City may desire to use a <br />portion of the proceeds of the bonds to reimburse the City for prior expenditures on <br />capital improvements. The City, by making such a declaration, in no way obligates itself <br />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 City of Santa <br />Ana Public Financing Authority Approving and Adopting Bylaws, Establishing Regular <br />Meeting Dates and Authorizing Certain Other Actions in Connection Therewith <br />2. Resolution No. 2024-XXX Resolution of the Board of Directors of the City of Santa <br />Ana Public Financing Authority Declaring its Intent to Issue Tax Exempt Obligations <br />to be Used to Reimburse the City of Santa Ana for Expenditures Prior to the Issuance <br />of Such Bonds <br />3. Bylaws of the City of Santa Ana Public Financing Authority