Item 38 - Water Revenue Bonds - Laserfiche WebLink

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FIRST SUPPLEMENT TO MASTER INSTALLMENT PURCHASE AGREEMENT This FIRST SUPPLEMENT TO MASTER INSTALLMENT PURCHASE AGREEMENT, made and entered into as of 1, 2024 (this "Supplement"), by and between the CITY OF SANTA ANA, a charter city and municipal corporation organized and existing under and by virtue of the Constitution and the laws of the State of California and its Charter (the "City"), and the SANTA ANA PUBLIC FINANCING AUTHORITY, a joint exercise of powers authority and public entity duly organized and existing under and by virtue of the State of California (the "Authority"); WITNESSETH: WHEREAS, the City previously financed the acquisition, construction and installation of certain improvements to its Water System (the "Project") (capitalized terms used herein shall have the meanings given such teens in Section 1.01) through the incurrence of certain Prior Obligations, defined herein. WHEREAS, the City desires to finance and refinance the Project by prepaying the Prior Obligations; WHEREAS, concurrently with the prepayment of the Prior Obligations, the City will reacquire the Project and will resell the Project to the Authority and then repurchase the Project from the Authority pursuant to this Supplement; WHEREAS, the City and the Authority have heretofore entered into a Master Installment Purchase Agreement, dated as of 1, 2024 (the "Agreement"), pursuant to which the Authority has agreed to provide the Project and any Components thereof to the City and the City has agreed from time to time to purchase the Project and/or Components thereof as are specified in a Supplement, and has declared the conditions and terms upon which obligations such as installment payments (the "Component Installment Payments"), and the interest thereon, are to be incurred and secured; WHEREAS, the Authority proposes to assign without recourse certain of its rights under and pursuant to this Supplement to U.S. Bank Trust Company, National Association, as trustee (the "Trustee"); WHEREAS, in consideration of such assignment and the execution and entering into of the Indenture, dated as of the date hereof, by and between the Trustee and the Authority, the Authority has agreed to issue its Santa Ana Public Financing Authority Water Revenue Bonds, Series 2024 (Payable Solely from Installment Payments Secured by Water System Net Revenues) (the "Component Obligation Series 2024"); WHEREAS, a portion of the proceeds of the Component Obligation Series 2024 will be used to provide for the prepayment of the Prior Obligations; and 55394.00068\42086635.3