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CITY OF ,~IqTA ANA
<br />RESOLUTION NO. 62-92
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<br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA
<br />ANA, CALIFORNIA, AUTHORIZING THE ISSUANCE OF $3,000,000
<br />WATER REVENUE BONDS OF SAID CITY AND PROVIDING THE
<br />TERMS AND CONDITIONS FOR THE ISSUANCE OF SAID BONDS.
<br />
<br /> Whereas, pursuant to Ordinance No. NS~561, a special election was held in the City of
<br />Santa Aha, for the purpose of submitting to the qualified voters of said city the proposition
<br />of issuing water revenue bonds of said city in the amount of $6,950,000 pursuant to the charter
<br />of said city and the Revenue Bond Law of 1941 (Chapter 6, Part 1, Division 2, Title 5 of the
<br />Government Code of the State of California) for the following purpose, to wit:
<br />
<br /> The acquisition and construction of additions to the revenue producing water utility ~[
<br />of the City of Santa Ana (i.e. the water supply and distribution system) for which the
<br />property to be acquired and the improvements or additions to be made to the equipment for
<br />such revenue-producing utility shall consist of works and facilities for the production, storage,
<br />transmission and distribution of water, including water storage reservoirs, water wells, pump-
<br />ing and pressure regulating stations, water transmission and distribution mains, capacity
<br />rights in works and facilities to 'be used jointly with other public corporations, facilities of
<br />existing water companies; and for the foregoing appurtenances and appurtenant works, and
<br />including the acquisition of all water rights, lands, easements, pipe, pumps, and other property
<br />necessary therefor; the estimate of the cost of the foregoing purpose being $6,950,000; the
<br />regulations and procedures for the sale and issuance of such bonds to be as set forth in the
<br />Revenue B~nd Law of 1941 (Chapter 6, Part 1, Division 2, Title 5 of the Government Code
<br />of the State of California); and the provision to be made from the revenue of such revenue-
<br />producing utility for the payment of interest on, and retirement of, the bonds to be that
<br />said bonds are secured by and are payable from all of the revenues of said utility as now or
<br />hereafter constituted, all as more particularly set forth in said Revenue Bond Law of 1941.
<br />
<br />and
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<br /> WHEREAS, said proposition was approved by the votes of more than a majority of all the
<br />voters voting on said proposition at said special election, and this city is now authorized to
<br />issue said bonds as provided in said Charter and said Revenue Bond Law of 1941; and
<br />
<br /> WHEREAS, this City Council deems it necessary to issue and sell at this time $3,000,000 of
<br />said bonds as "Series A";
<br />
<br /> NOW, THEREFORE, the City Council DOES HEREBY RESOLVE, DETERMINE
<br />AND ORDER as follows:
<br />
<br /> Section 1. Definitions. As used in this resolution, unless the context indicates otherwise, the
<br />following terms shall have the following meanings:
<br />
<br />(a) "City" means the City of Santa Ana, California.
<br />
<br />(b) "City Council" or "Council" means the City Council of said City.
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