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RESOLUTION NO. 2014 -XXX <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA APPROVING THE FORM AND AUTHORIZING <br />THE EXECUTION OF CERTAIN LEASE FINANCING <br />DOCUMENTS IN CONNECTION WITH THE DEFEASANCE <br />OF A PORTION OF THE SANTA ANA FINANCING <br />AUTHORITY POLICE ADMINISTRATION AND HOLDING <br />FACILITY LEASE REVENUE BONDS, SERIES 1994A, AND <br />THE DEFEASANCE AND REFUNDING OF THE <br />OUTSTANDING CITY OF SANTA ANA CERTIFICATES OF <br />PARTICIPATION (1998 CITY HALL EXPANSION <br />PROJECT) AND AUTHORIZING AND DIRECTING <br />CERTAIN ACTIONS WITH RESPECT THERETO <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS <br />FOLLOWS: <br />WHEREAS, the Santa Ana Financing Authority (the "Authority ") has heretofore <br />issued its Santa Ana Financing Authority Police Administration and Holding Facility <br />Lease Revenue Bonds, Series 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 to the Authority under a lease agreement, <br />subsequently amended in connection with certain refunding bonds issued in 2004, <br />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 />Resolution No, 2014 -XXX <br />Page 1 of 4 <br />4 -15 <br />