Laserfiche WebLink
RESOLUTION NO. 2024-025 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA AUTHORIZING THE EXECUTION AND <br />DELIVERY BY THE CITY OF A MASTER INSTALLMENT <br />PURCHASE AGREEMENT, A FIRST SUPPLEMENT TO <br />MASTER INSTALLMENT PURCHASE AGREEMENT, AN <br />ESCROW AGREEMENT, A CONTINUING DISCLOSURE <br />CERTIFICATE AND A PURCHASE AGREEMENT IN <br />CONNECTION WITH THE ISSUANCE OF SANTA ANA <br />PUBLIC FINANCING AUTHORITY WATER REVENUE <br />BONDS, SERIES 2024, APPROVING THE ISSUANCE OF <br />SUCH BONDS IN AN AGGREGATE PRINCIPAL AMOUNT <br />OF NOT TO EXCEED $47,000,000, AUTHORIZING THE <br />DISTRIBUTION OF AN OFFICIAL STATEMENT IN <br />CONNECTION WITH THE OFFERING AND SALE OF <br />SUCH BONDS, AND AUTHORIZING THE EXECUTION OF <br />NECESSARY DOCUMENTS AND CERTIFICATES AND <br />RELATED ACTIONS <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. The City of Santa Ana (the "City") desires to finance the costs of the <br />acquisition, construction and installation of certain water system capital <br />improvements (the "Project") pertaining to the City's water system (the "Water <br />System" ); <br />B. The City and the Santa Ana Financing Authority have previously financed <br />costs of the Water System with the issuance of $15,690,000 original principal <br />amount of Santa Ana Financing Authority Water Revenue Refunding Bonds, <br />Series 2014 (the "2014 Bonds"); <br />C. The City and the Santa Ana Public Financing Authority (the "Authority") <br />have determined that it would be in the best interests of the City and the <br />Authority to provide the funds necessary to refinance the 2014 Bonds and <br />finance the Project through the offering and sale of bonds of the Authority, <br />designated "Santa Ana Public Financing Authority Water Revenue Bonds, Series <br />2024" (the "Bonds"); <br />D. In order to accomplish such financing of the Project, the City and the <br />Authority desire to enter into a new Master Installment Purchase Agreement (the <br />Resolution No.2024-025 <br />Page 1 of 6 <br />