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38. Resolution of the City of Santa Ana Authorizing the Issuance and Sale of <br />Water Revenue Bonds, Series 2024 <br />Department(s): Finance and Management Services <br />Recommended Action: <br />1. Adopt a resolution authorizing the Issuance of the Santa Ana Financing <br />Authority's Water of Santa Ana Water Revenue Bonds, Series 2024 ("the <br />Bonds") <br />RESOLUTION NO. 2024-025 entitled RESOLUTION OF THE CITY COUNCIL <br />OF THE CITY OF SANTA ANA AUTHORIZING THE EXECUTION AND <br />DELIVERY BY THE CITY OF A MASTER INSTALLMENT PURCHASE <br />AGREEMENT, A FIRST SUPPLEMENT TO MASTER INSTALLMENT <br />PURCHASE AGREEMENT, AN ESCROW AGREEMENT, A CONTINUING <br />DISCLOSURE CERTIFICATE AND A PURCHASE CONTRACT IN <br />CONNECTION WITH THE ISSUANCE OF SANTA ANA PUBLIC FINANCING <br />AUTHORITY WATER REVENUE BONDS, SERIES 2024, APPROVING THE <br />ISSUANCE OF SUCH BONDS IN AN AGGREGATE PRINCIPAL AMOUNT OF <br />NOT TO EXCEED $47,000,000, AUTHORIZING THE DISTRIBUTION OF AN <br />OFFICIAL STATEMENT IN CONNECTION WITH THE OFFERING AND SALE <br />OF SUCH BONDS, AND AUTHORIZING THE EXECUTION OF NECESSARY <br />DOCUMENTS AND CERTIFICATES AND RELATED ACTIONS. <br />2. Authorize the execution of and approving a form of the Master Installment <br />Purchase Agreement, First Supplement to the Master Installment Purchase <br />Agreement, Escrow Agreement, Bond Purchase Agreement, Indenture of Trust, <br />and Preliminary Official Statement. <br />MINUTES: Finance Management and Services Director Kathryn Downs provided <br />a presentation regarding the Water Revenue Bonds. <br />Mayor Pro Tem Phan asked what happens if the bonds are not approved. <br />Deputy Director of Public Works Cesar Barrera spoke regarding the challenges <br />related to not approving the item. <br />Mayor Amezcua spoke in support of the item. <br />MOTION: Mayor Amezcua moved to approve the recommended action for <br />Item No. 38, seconded by Mayor Pro Tern Phan. <br />MINUTES: Councilmember Penaloza asked for clarification regarding the rates. <br />Director Downs clarified there would be no rate increases. <br />The motion carried, 7-0, by the following roll call vote: <br />CITY COUNCIL 16 JUNE 4, 2024 <br />