Item 38 - Water Revenue Bonds - Laserfiche WebLink

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Forward -Looking Statements This Official Statement contains forward -looking statements, including (i) statements containing projections of Net System Revenues and other financial items, (ii) statements of future economic performance of the Water System, and (iii) statements of the assumptions underlying or relating to statements described in (i) and (ii) above, (collectively, the "Forward -Looking Statements"). All statements other than statements of historical facts included in this Official Statement, including without limitation statements under "THE WATER SYSTEM" and "SECURITY FOR THE BONDS" regarding the financial position, capital resources and status of the City and the Water System are Forward -Looking Statements. Although the City believes that the expectations reflected in such Forward -Looking Statements are reasonable, no assurance can be given that such expectations will prove to be correct. Important factors which could cause actual results to differ materially from expectations of the City (collectively, the "Cautionary Statements") are disclosed in this Official Statement. All Forward -Looking Statements attributable to the City or the Authority are expressly qualified in their entirety by the Cautionary Statements. Summaries Not Definitive Definitions of certain capitalized terms herein are contained in Appendix B hereto, and are incorporated herein by reference. Definitions of certain terms used in this Official Statement, and the summaries of and references contained herein to the Indenture, the Bonds, the Installment Purchase Agreement, the Continuing Disclosure Agreement, statutes and other documents do not purport to be comprehensive or definitive and are qualified by reference to each such document, instrument or statute. Additional copies of this Official Statement and copies of the Indenture and the Installment Purchase Agreement may be obtained from the Trustee or the City, 20 Civic Center Plaza, Santa Ana, California 92502. THE FINANCING PLAN Refunding of Prior Obligations The Authority is selling the Bonds to provide, among other things, the moneys (together with other available funds) necessary to refund in whole the Prior Obligations. A portion of the proceeds of the Bonds, along with certain remaining funds from the Prior Obligations, will be used to establish an escrow fund (the "Escrow Fund") for the Prior Obligations to be held in trust by U.S. Bank Trust Company, National Association, acting as escrow bank for the Prior Obligations (the "Escrow Bank') under an Escrow Deposit and Trust Agreement between the City and the Escrow Bank, dated as of June 1, 2024 (the "Escrow Agreement"). Proceeds deposited into the Escrow Fund will be used to pay the debt service on the Prior Obligations on September 2, 2024 and to pay the redemption price, as specified in the Escrow Agreement. Upon deposit of such proceeds and other moneys into the Escrow Fund, the Prior Obligations will no longer be deemed outstanding and will no longer have a claim on Net System Revenues. Moneys deposited in the Escrow Fund are not available to pay principal of or interest on the Bonds.