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RESOLUTION NO. 2004-008 <br /> <br />JWF 1/13/04 <br /> <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA <br />ANA AUTHORIZING THE EXECUTION AND DELIVERY BY THE <br />CITY OF A MASTER INSTALLMENT PURCHASE AGREEMENT, A <br />FIRST SUPPLEMENT TO MASTER INSTALLMENT PURCHASE <br />AGREEMENT, AN ESCROW AGREEMENT, A CONTINUING <br />DISCLOSURE CERTIFICATE AND A PURCHASE CONTRACT IN <br />CONNECTION WITH THE ISSUANCE OF SANTA ANA FINANCING <br />AUTHORITY WATER REFUNDING REVENUE BONDS, SERIES <br />2004 (PAYABLE SOLELY FROM INSTALLMENT PAYMENTS <br />SECURED BY WATER SYSTEM NET REVENUES), APPROVING <br />THE ISSUANCE OF SUCH BONDS IN AN AGGREGATE PRINCIPAL <br />AMOUNT OF NOT TO EXCEED $22,000,000, AUTHORIZING THE <br />DISTRIBUTION OF AN OFFICIAL STATEMENT IN CONNECTION <br />WITH THE OFFERING AND SALE OF SUCH BONDS AND <br />AUTHORIZING THE EXECUTION OF NECESSARY DOCUMENTS <br />AND CERTIFICATES AND RELATED ACTIONS <br /> <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS <br />FOLLOWS: <br /> <br /> Section 1. The City Council of the City of Santa Ana hereby finds, determines <br />and declares as follows: <br /> <br />The City of Santa Ana (the "City") previously financed the costs of the <br />acquisition, construction and installation of certain water system capital <br />improvements (the "Project") pertaining to the City's water system (the <br />'~/Vater System"); <br /> <br />In order to accomplish such financing, the City entered into the Master <br />Installment Purchase Agreement, dated as of August 1, 1994 (the "Prior <br />Master Installment Purchase Agreement"), between the City and the <br />Authority, and the First Supplement to Master Installment Purchase <br />Agreement, dated as of August 1, 1994,. between the City and the <br />Authority (the "Prior Supplement" and together with the Prior Master <br />Installment Purchase Agreement, the "Prior Installment Purchase <br />Agreement") and pertaining to the Water System; <br /> <br />In order to provide the funds necessary to finance the Project, the <br />Authority issued its Water Revenue Bonds, Series 1994 (Payable Solely <br />from Installment Payments Secured by Water System Net Revenues) (the <br />"Prior Bonds"), secured by the Prior Installment Purchase Agreement; <br /> <br />Page 207 Res°luti°n NTa <br /> <br /> <br />