2014-004 SAFA - Laserfiche WebLink

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D. The City and the Authority have determined that it would be in the best interests of the City and the Authority to provide the funds necessary to refinance the Project and fund additional projects (the "2014 Project') through the offering and sale of bonds of the Authority, designated "Santa Ana Financing Authority Water Revenue Refunding Bonds, Series 2014 (Payable Solely from Installment Payments Secured by Water System Net Revenues)" (the "Bonds "); E. In order to accomplish such refinancing and financing of the 2014 Project the City and the Authority desire to enter into a new Master Installment Purchase Agreement (the "Master Installment Agreement') and a First Supplement to Master Installment Purchase Agreement (the "First Supplement'); F. The Authority and the City desire that The Bank of New York Mellon Trust Company, N.A., as trustee (the "Trustee ") and the Authority enter into an Indenture (the "Indenture ") in order to provide for the issuance of the Bonds; G. The Bonds will be issued pursuant to the Marks -Roos Local Bond Pooling Act of 1985, commencing with Section 6584 of the California Government Code; H. The funds representing the Installment Payments payable by the City under the First Supplement will be applied to the payment and redemption of the Prior Bonds pursuant to an Escrow Agreement (the "Escrow Agreement') by and among the City, the Authority and The Bank of New York Mellon Trust Company, N.A., as escrow agent; Stifel, Nicolaus & Company, Incorporated, as underwriter (the "Underwriter "), has submitted to the City and the Authority a proposed form of an agreement to purchase the Bonds in the form of a Bond Purchase Agreement (the "Purchase Contract'); J. A form of the Preliminary Official Statement (the "Preliminary Official Statement") to be distributed in connection with the public offering of the Bonds has been prepared; K. The City is a member of the Authority and the Project is to be located within the boundaries of the City; L. The Governing Board has been presented with the form of each document referred to herein relating to the refinancing contemplated hereby, and the Governing Board has examined and approved each document and desires to authorize and direct the execution of such documents and the consummation of such refinancing; and M. All acts, conditions and things required by the laws of the State of California to exist, to have happened and to have been performed precedent to and in connection with the consummation of such refinancing authorized hereby do SAFA Resolution No. 2014 -004 Page 2 of 5