Laserfiche WebLink
55394.00068\42104924.1 <br />Resolution No. 2024-XXX <br />Page 1 of 3 <br /> <br />LR 5/7/24 <br />RESOLUTION NO. 2024-XXX <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA <br />AUTHORIZING THE CREATION OF THE CITY OF SANTA ANA PUBLIC <br />FINANCING AUTHORITY AND CERTAIN OTHER MATTERS PERTAINING <br />THERETO <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 hereby finds, determines <br />and declares as follows: <br />A.WHEREAS, the City Council (the “City Council”) of the City of San ta Ana <br />(the "City") has determined that it is in the best interests of the City to <br />approve a joint powers authority which shall be created by the City and the <br />Housing Authority of the City of Santa Ana (the "Housing Authority") for the <br />purpose of assisting the members of such joint powers authority with the <br />financing of public capital improvements for the benefit of the community; <br />and <br />B.WHEREAS, it has been proposed that the City and the Housing Authority <br />form a joint powers authority to be designated as the "City of Santa Ana <br />Public Financing Authority" (the "Financing Authority"), pursuant to a Joint <br />Exercise of Powers Agreement (the "Joint Powers Agreement"), by and <br />between the City and the Housing Authority, dated ____________, 2024, a <br />copy of which has been presented to the City Council, pursuant to the Joint <br />Powers Law (Articles 1 through 4 of Chapter 5, division 7, Title 1 of the <br />California Government Code); and <br />C.WHEREAS, the City Council, with the aid of its staff, has reviewed the Joint <br />Powers Agreement and the City Council wishes to approve the Joint Powers <br />Agreement, the creation of the Financing Authority and matters related <br />thereto. <br />Section 2. Creation of Authority. The City hereby approves the creation of the <br />Financing Authority, the membership of the City therein and the Joint Powers Agreement. <br />The Mayor and the City Clerk are and each of them is hereby authorized and directed to <br />execute and delivery the Joint Powers Agreement for and on behalf of the City with any <br />such changes as the City Manager may deem appropriate. <br />EXHIBIT 1