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349 <br /> <br />RESOLUTION NO. 92439 <br /> <br />RESOLUTION OF THE CITY COUNCIL <br />OF THE CITY OF SANTA ANA <br /> <br />DECLARATION OF OFFICIAL INTENT OF THE CITY OF <br />SANTA ANA TO REIMBURSE CERTAIN CAPITAL <br />EXPENDITURES FROM PROCEEDS OF INDEBTEDNESS <br /> <br /> WHEREAS, the City of Santa Ana (the "Issuer") intends to <br />(i) construct a new police administration building and holding <br />facility and (ii) rehabilitate and renovate the existing police <br />administration facility (collectively, the "Project"); <br /> <br /> WHEREAS, the Issuer expects to pay certain capital <br />expenditures in connection with the Project prior to the issuance <br />of indebtedness to be used to finance such expenditures; <br /> <br /> WHEREAS, the Issuer is authorized to incur or issue debt <br />obligations to finance costs of the Project; <br /> <br /> WHEREAS, in order to reimburse itself or pay for the <br />costs of the Project, the Issuer reasonably expects it will issue <br />debt obligations in an amount not reasonably expected to exceed <br />$100,000,000 for the purpose of financing costs of the Project on <br />a long-term basis; and <br /> <br /> WHEREAS, Section 1.103-18 of the Treasury Regulations <br />requires the Issuer to declare its reasonable official intent to <br />reimburse prior expenditures for the Project with proceeds of a <br />borrowing; <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the <br />City of Santa Aha (the "City Council") as follows: <br /> <br /> Section 1, The City Council finds and determines that <br />the foregoing recitals are true and correct. <br /> <br /> Section 2. This Resolution is adopted by the city <br />Council solely for purposes of establishing compliance with the <br />requirements of Section 1.103-18 of the Treasury Regulations. This <br />Resolution does not bind the Issuer to make any expenditure, incur <br />any indebtedness or proceed with the Project. <br /> <br /> <br />