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OFFICIAL STATEMENT SANTA ANA PUBLIC FINANCING AUTHORITY WATER REVENUE BONDS, SERIES 2024 INTRODUCTION General The purpose of this Official Statement of the Santa Ana Public Financing Authority (the "Authority") is to furnish information regarding the issuance and sale of the Authority's $ * principal amount of Water Revenue Bonds, Series 2024 (the "Bonds") pursuant to the provisions of an Indenture, dated as of June 1, 2024 (the "Indenture") between the Authority and U.S. Bank Trust Company, National Association (the "Trustee"). The Bonds will be issued pursuant to the Marks -Roos Local Bond Pooling Act of 1985 (Article 4, Chapter 5, Division 7, Title 1 of the California Government Code) (the "Bond Law"). The Authority and the City The Authority was established pursuant to a Joint Exercise of Powers Agreement dated May 8, 2024, between the City of Santa Ana (the "City") and the Santa Ana Housing Authority (the "Housing Authority"). The Authority was created for the purpose of providing financing for public capital improvements owned and operated by the City and/or the Housing Authority. The City of Santa Ana, county seat of Orange County and one of the oldest communities in Southern California, is located 35 miles southeast of Los Angeles, 20 miles east of the Ports of Los Angeles and Long Beach, ten miles inland from the Pacific Ocean and 90 miles north of San Diego. The City encompasses an area of approximately 27 square miles and lies on generally level land at an elevation approximately 115 feet above sea level. The City provides traditional city services, including fire protection services contracted with the Orange County Fire Authority (192 sworn personnel with ten stations) and police protection (384 sworn officers). The City, has over 1,400 employees. The Water System provides water service through the municipal water department to over 45,401 accounts. There are three library locations and 47 parks in the City. Public education for grades K-12 is provided by the Santa Ana Unified School District, the Garden Grove Unified School District, the Orange Unified School District and the Tustin Unified School District. The City has served as the county seat since the formation of Orange County in 1889. Numerous government offices have taken advantage of the City's central location and position as county seat. City, county, state and federal offices are conveniently located in the multi -government civic center in the heart of the City. The City has an industrial base which supports the local economy. The City Council is composed of six members, in addition to the Mayor. The City Council is elected biannually by ward to four-year terms, in addition to the Mayor, who is directly elected at large for two-year terms. The Mayor and Mayor Pro -Tern are selected by the City Council. The City has a council/manager form of government. The City Manager is appointed by the City Council to manage the daily affairs of the City and to implement policies established by the Council. For other selected information concerning the City, see "APPENDIX A - CITY OF SANTA ANA GENERAL DEMOGRAPHIC INFORMATION." Purpose The Bonds are being issued (i) to provide funds to refund in full the Santa Ana Financing Authority's Water Revenue Refunding Bonds, Series 2014, delivered in the initial principal amount of $15,690,000, of which $8,905,000 is currently outstanding (the "Prior Obligations"), (ii) to finance a portion of the design acquisition * Preliminary, subject to change.