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29033-22 JHHW:PJT:slc 01/23/91 J8~29 3g '3 RESOLUTION NO. 91- 025 A RESOLUTION OF INTENTION TO INCUR BONDED INDEBTEDNESS OF TI-IE PROPOSED COMMIJNITY FACII JTIES DISTRICT NO, 1 (FIRE FACH.ITIES AND SERVICES ) OF ~ CITY OF SANTA ANA PURSUANT TO TIlE CITY OF SANTA ANA SPECIAL TAX FINANCING IMPROVEMENT CODE Community Facilities District No. (Fire Facilities and Services) of the City of Santa Aha WHEREAS, this City Council has this date adopted its Resolution entitled "A Resolution of Intention to Establish a Community Facilities District and To Authorize the Levy of Special Taxes Pursuant to the City of Santa Aha Special Tax Financing Improvement Code", stating its intention to form a community facilities district pursuant to the City of Santa Aha Special Tax Financing Improvement Code, enacted by Ordinance No. NS-2033 of the City adopted on November 20, 1989 (the "Act"), for the purpose of financing certain public improvements (the "Facilities") and certain services, as further provided in said Resolution; and WHEREAS, this City Council estimates the amount required for the financing of the the Facilities to be the sum of approximately $11,000,000; and WHEREAS, in order to finance the Facilities it is necessary to incur bonded indebtedness in the amount of not to exceed $50,000,000. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS FOLLOWS: 1. It is necessary to incur bonded indebtedness within the boundaries of the proposed Community Facilities District No. 1 (Fire Facilities and Services) of the City of Santa Ana (the "District") in the amount of not to exceed $50,000,000 to finance the Facilities. 2. The bonded indebtedness is proposed to be incurred for the purpose of financing the Facilities, including ail costs incidental to or connected with the accomplishment of said purposes and of the financing thereof, as permitted by Section 20-62 of the Act. 3. This City Council, acting as legislative body for the District, intends to authorize the issuance and sale of bonds in the maximum aggregate principal amount of not to exceed $50,000,000, bearing interest payable semi-annually or in such other manner as this City Council shall determine, at a rate not to exceed the maximum rate of interest as may be authorized by applicable law at the time of sale of such bonds, and maturing not to exceed 40 years from the date of the issuance of said bonds.