Item 26 - Council Consideration of Resolution to Establish Public Financing Authority

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55394.00068\42104911.2 1 JOINT EXERCISE OF POWERS AGREEMENT CREATING THE CITY OF SANTA ANA PUBLIC FINANCING AUTHORITY THIS JOINT EXERCISE OF POWERS AGREEMENT (the “Agreement”), is made and entered into this ______________, 2024 by and among the Members (as defined herein); W I T N E S S E T H: WHEREAS, agencies formed under Article 1 (commencing with Section 6500) of the Joint Powers Law (as defined herein) are permitted to provide financing for any of their members or other local public agencies in the State of California in connection with the lease, acquisition, construction and improvement of public capital improvements, working capital requirements or insurance programs of such members or other local agencies; and WHEREAS, the Members wish to form an agency under the Joint Powers Law, known as the City of Santa Ana Public Financing Authority, for the purpose of providing an entity to assist in providing financing, for purposes which are authorized by law and which could finance, lease, own, operate and maintain public capital improvements for any of its Members, or to be owned by any of its Members (as defined herein). NOW, THEREFORE, in consideration of the above premises and of the mutual promises herein contained, the Members do hereby agree as follows: ARTICLE I DEFINITIONS Section 1.01. Definitions. In addition to the other terms defined herein, the following terms, whether in the singular or in the plural, when used herein and initially capitalized shall have the meanings specified. “Agreement” means this Joint Exercise of Powers Agreement, as originally entered into or as amended from time to time in accordance with Section 8.05 hereof. “Authority” means the City of Santa Ana Public Financing Authority established pursuant to Section 2.02 hereof. “Board” means the Board referred to in Section 3.01 hereof, which shall be the governing body of the Authority. “Bond Law” means the Marks-Roos Local Bond Pooling Act of 1985, being Article 4 of the Joint Powers Law (commencing with Section 6584), as amended from time to time, Article 2 of the Joint Powers Law (commencing with Section 6540), as amended from time to time, or any other law available for use by the Authority in the authorization and issuance of Indebtedness or to provide for the financing of Indebtedness and/or Public Capital Improvements, as amended from time to time.