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RESOLUTION NO, 2024-073 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA APPROVING REVISIONS TO THE <br />MUNICIPAL SECURITIES DISCLOSURE POLICY AND <br />PROCEDURES <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 and its related entities issue municipal bonds, notes, <br />and other obligations ("Obligations") from time to time that are offered to the <br />investing public. <br />B. Publicly offered debt obligations and securities, such as bonds or <br />certificates of participation, are offered pursuant to an Official Statement or other <br />type of offering document that must comply with the "anti -fraud rules" of the <br />federal securities laws. ("Antifraud rules" refers to Section 17 of the Securities <br />Act of 1933 and Section 10(b) of the Securities and Exchange Act of 1934, and <br />regulations adopted by the Securities and Exchange Commission under those <br />Acts, particularly "Rule 10-b-5" under the 1934 Act.) <br />C. The City of Santa Ana determined that it would be proper in the <br />management of its financial affairs to establish policies of the City and its related <br />entities with respect to the preparation of disclosure documents and the <br />continuing disclosure requirements related to the public offering Obligations. <br />D. On June 21, 2016, the City Council approved the Municipal Securities <br />Disclosure Policy and Procedures. <br />E. City staff has determined that revisions to the policy to maintain best <br />practices are recommended. These revisions include changes to the obligations <br />of the Disclosure Coordinator, training obligations and minor clerical changes. <br />Section 2. The City Council of the City of Santa Ana hereby approves and <br />adopts the revised Municipal Securities Disclosure Policy and Procedures, a copy of <br />which is attached as Exhibit A. <br />051. <br />Section 3. This resolution shall supersede and replace Resolution No. 2016- <br />Resolution No. 2024-073 <br />Page 1 of 2 <br />