75D - WATER REVENUE BONDS - Laserfiche WebLink

Home Browse Search

Lo Rule 15c2-12 promulgated under the Securities Exchange Act of 1934 ("Rule 15c2-12") requires that, in order to be able to purchase or sell the Bonds, the Underwriter must have reasonably determined that the City has undertaken in a written agreement or contract for the benefit of the holders of the Bonds to provide disclosure of certain financial information and certain material events on an ongoing basis; In order to cause such requirement to be satisfied, the City desires to execute and deliver a Continuing Disclosure Certificate (the "Continuing Disclosure Certificate"); The City is a member of the Authority and the Project is located within the boundaries of the City; On this date, the City held a public hearing on the refinancing of the Project in accordance with Section 6586.5 of the Act, which hearing was held at 60 Civic Center Plaza, Santa Ana, California; Po In accordance with Section 6586.5 of the Act, notice of such hearing was published once at least five days prior to the 'headng in the Orange County Register, a newspaper of general circulation in the City; The City Council has been presented with the form of each document referred to herein relating to the refinancing contemplated hereby, and the City Council has examined and approved each document and desires to authorize and direct the execution of such documents and the consummation of such refinancing; and All acts, conditions and things required by the laws of the State of California and the City Charter of the City to exist, to have happened and to have been performed precedent to and in connection with the consummation of such refinancing authorized hereby do exist, have happened and have been performed in regular and due time, form and manner as required by law, and the City is now duly authorized and empowered, pursuant to each and everY requirement of law, to consummate such refinancing for the PUrpose, in the manner and upon the terms herein provided; Section 2. All of the recitals herein contained are true and correct and the City Council so finds. Section 3. The City Council, on behalf of the City, hereby finds that the use of the Act to assist the City in refinancing the Project will result in significant public benefits to the citizens of the City because it is expected that such Use will provide demonstrable savings in effective interest rate costs. The prepayment of the Prior Installment Payments and the redemption of the Prior Bonds are hereby approved. Resolution No~0_~rl~ Page 209 ~"ag~a~'o~l/'lB~' .