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jmf 6113116 <br />RESOLUTION NO. 2016 -XXX <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA APPROVING THE ADOPTION OF <br />MUNICIPAL SECURITIES DISCLOSURE POLICY AND <br />PROCEDURES <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS <br />FOLLOWS: <br />Section 1. The City Council of the City of Santa Ana hereby finds, determines <br />and declares as follows: <br />A. The City of Santa Ana and its related entities issue municipal bonds, <br />notes, and other obligations ( "Obligations ") from time to time that are <br />offered to the investing public. <br />B. Publicly offered debt obligations and securities, such as bonds or <br />certificates of participation, are offered pursuant to an Official Statement or <br />other type of offering document that must comply with the "anti -fraud <br />rules" of federal securities laws. ( "Anti -fraud rules" refers to Section 17 of <br />the Securities Act of 1933 and Section 10(b) of the Securities and <br />Exchange Act of 1934, and regulations adopted by the Securities and <br />Exchange Commission under those Acts, particularly "Rule 10b -5" under <br />the 1934 Act.) <br />C. The City of Santa Ana has determined that it would be proper in the <br />management of its financial affairs to establish policies of the City and its <br />related entities with respect to the preparation of disclosure documents <br />and the continuing disclosure requirements related to the public offering of <br />Obligations. <br />D. City staff is directed and has prepared a Municipal Securities Disclosure <br />Policy and Procedures, a copy of which is attached as Exhibit A. <br />Section 2. The City Council of the City of Santa Ana hereby approves and <br />adopts the Municipal Securities Disclosure Policy and Procedures, a copy of which is <br />attached as Exhibit A and will be on file at the offices of the Finance and Management <br />Services Agency of the City for public inspection. <br />Exhibit 2 <br />Resolution No. 2016 -xxx <br />Page 1 of 2 <br />55C -7 <br />