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REQUEST FOR SANTA <br />ANA FINANCING <br />AUTHORITY ACTION <br />CITY COUNCIL MEETING DATE: <br />JUNE 3, 2014 <br />TITLE: <br />RESOLUTION ESTABLISHING A <br />SCHEDULE OF REGULAR MEETINGS <br />FOR THE SANTA ANA FINANCING <br />AUTHORITY <br />ZIP <br />CITY MANA R <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 1s` Reading <br />❑ Ordinance on 2n° Reading <br />❑ Implementing Resolution <br />❑ Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />Adopt a resolution establishing a schedule of regular meetings for the Santa Ana Financing <br />Authority. <br />DISCUSSION <br />The Santa Ana Financing Authority (Authority) is a public agency pursuant to the Joint Exercise <br />of Powers Agreement (JPA) dated August 1, 1993, between the City of City of Santa Ana and <br />the Community Redevelopment Agency of the City of Santa Ana. The Authority is governed by <br />the board of directors comprised of the seven members of the City Council who are authorized <br />under the JPA to issue bonds and provide financial assistance to the City for the acquisition and <br />construction of public capital improvements. <br />To provide the Authority with the flexibility to adopt resolutions for the issuance and/or <br />refinancing of debt, it is necessary to establish Authority meeting dates which coincide with <br />regularly scheduled City Council meetings. As such, the Board of the Authority desires to <br />establish a schedule of regular meetings in conjunction with the regular scheduled meetings of <br />the City Council. <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. <br />3 -1 <br />