Laserfiche WebLink
RESOLUTION NO. 2014 -XXX <br />A RESOLUTION OF THE SANTA ANA FINANCING <br />AUTHORITY APPROVING THE FORM AND <br />AUTHORIZING THE EXECUTION OF CERTAIN LEASE <br />FINANCING DOCUMENTS IN CONNECTION WITH THE <br />DEFEASANCE OF A PORTION OF THE SANTA ANA <br />FINANCING AUTHORITY POLICE ADMINISTRATION AND <br />HOLDING FACILITY LEASE REVENUE BONDS, SERIES <br />1994A, AND THE DEFEASANCE AND REFUNDING OF <br />THE OUTSTANDING CITY OF SANTA ANA <br />CERTIFICATES OF PARTICIPATION (1998 CITY HALL <br />EXPANSION PROJECT) AND AUTHORIZING AND <br />DIRECTING CERTAIN ACTIONS WITH RESPECT <br />THERETO <br />BE IT RESOLVED BY THE BOARD OF DIRECTORS (THE "BOARD ") OF THE <br />SANTA ANA FINANCING AUTHORITY (THE "AUTHORITY "), AS FOLLOWS: <br />WHEREAS, the Authority has heretofore issued its Santa Ana Financing <br />Authority Police Administration and Holding Facility Lease Revenue Bonds, Series <br />1994A (the "1994 Bonds "); <br />WHEREAS, the proceeds of the 1994 Bonds were used to finance the costs of <br />the construction and equipping of a police administration and holding facility (the "1994 <br />Project "); <br />WHEREAS, the payment of debt service on the 1994 Bonds is derived from <br />lease payments made by the City of Santa Ana (the "City ") to the Authority under a <br />lease agreement, subsequently amended in connection with certain refunding bonds <br />issued in 2004, payable from the City's General Fund (the "1994 Lease Agreement "); <br />WHEREAS, the 1994 Bonds are currently outstanding in the principal amount of <br />$67,100,000; <br />WHEREAS, the City has previously caused the execution and delivery of its <br />Certificates of Participation (1998 City Hall Expansion Project) (the "1998 Certificates "); <br />WHEREAS, the proceeds of the 1998 Certificates were used to finance the costs <br />of the construction of an expansion to the City of Santa Ana City Hall (the "1998 <br />Project "); <br />WHEREAS, the payment of debt service on the 1998 Certificates is derived from <br />lease payments made by the City to the Authority under a lease agreement payable <br />from the City's General Fund (the "1998 Lease Agreement "); <br />Resolution No. 2014 -XXX <br />80A-9 Page 1 of 4 <br />