|
5/6/74
<br />
<br />CITY OF SANTA ANA
<br />
<br /> RESOLUTION NO. 74-75
<br />
<br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA
<br />ANA, CALIFORNIA, AUTHORIZING THE ISSUANCE OF $1,950,000
<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 Santa Aha,
<br />for the purpose of submitting to the qualified voters of said city the proposition of issuing water revenue
<br />bonds of said city in the amount of $6,950,000 pursuant to the charter of said city and the Revenue
<br />Bond Law of 1941 (Chapter 6, Part 1, Division 2, Title 5 of the Government Code of the State of
<br />California) for the following purpose, to wit:
<br />
<br /> The acquisition and construction of additions to the revenue producing water utility of the
<br /> City of Santa Ana (i.e. the water supply and distribution system) for which the property to be
<br /> acquired and the improvements or additions to be made to the equipment for such revenue-
<br /> producing utility shall consist of works and facilities for the production, storage, transmission
<br /> and distribution of water, including water storage reservoirs, water wells, pumping and pressure
<br /> regulating stations, water transmission and distribution mains, capacity rights in works and facilities
<br /> to be used jointly with other public corporations, facilities of existing water companies; and for the
<br /> foregoing appurtenances and appurtenant works, and including the acquisition of all water rights,
<br /> lands, easements, pipe, pumps, and other property necessary therefor; the estimate of the cost of
<br /> the foregoing purpose being $6,950,000; the regulations and procedures for the sale and issuance
<br /> of such bonds to be as set forth in the Revenue Bond Law of 1941 (Chapter 6, Part 1, Division 2,
<br /> Title 5 of the Government Code of the State of California); and the provision to be made from the
<br /> revenue of such revenue-producing utility for the payment of interest on, and retirement of, the
<br /> bonds to be that said bonds are secured by and are payable from all of the revenues of said utility
<br /> as now or hereafter constituted, all as more particularly set forth in said Revenue Bond Law of 1941;
<br />
<br />and
<br />
<br /> WHEREAS, said proposition was approved by the votes of more than a majority of all the voters
<br />voting on said proposition at said special election, and this City is now authorized to issue said bonds
<br />as provided in said Charter and said Revenue Bond Law of 1941; and this City has issued and sold
<br />$3,000,000 of said bonds designated 1962 Water Revenue Bonds, Series A, and $2,000,000 of said
<br />bonds designated 1962 Water Revenue Bonds, Series B; and
<br />
<br /> WHEREAS, this City Council deems it necessary to issxte and sell at this time $1,950,000 water
<br />revenue bonds as "Series C"; and
<br />
<br /> WHEREAS, this City Council desires to utilize the provisions of Article 8, Chapter 3, Part 1,
<br />Division 2, Title 5 (commencing with Section 53540) of the Government Code of the State of California
<br />in lieu of issuing the remaining unissued portion of said authorized bonds;
<br />
<br /> NOW, THEREFORE, the City Council of the City of Santa Ana, California, DOES HEREBY
<br />RESOLVE, DETERMINE 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 Aha, California.
<br />
<br />
<br />
|