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(jxs 7/20/16) <br />RESOLUTION NO. 2016 -068 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA AUTHORIZING CITY PARTICIPATION IN THE <br />CALIFORNIA SAFE DRINKING WATER STATE <br />REVOLVING FUND FINANCING PROGRAM FOR WATER <br />AUTOMATED METERING INFRASTRUCTURE <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. WHEREAS, the City of Santa Ana (the "Agency ") desires to finance the <br />costs of constructing and /or reconstructing certain public facilities and <br />improvements relating to its water and wastewater system, including <br />certain treatment facilities, pipelines, and other infrastructure (the <br />'Project'); and <br />B. WHEREAS, the Agency intends to finance the construction and /or <br />reconstruction of the Project or portions of the Project with moneys <br />( "Project Funds ") provided by the State of California, acting by and <br />through the State Water Resources Control Board ( "State Water Board "); <br />and <br />C. WHEREAS, the State Water Board may fund the Project Funds with <br />proceeds from the sale of obligations the interest upon which is excluded <br />from gross income for federal income tax purposes (the "Obligations "); <br />and <br />D. WHEREAS, prior to either the issuance of the Obligations or the approval <br />by the State Water Board of the Project Funds, the Agency desires to <br />incur certain capital expenditures (the "Expenditures ") with respect to the <br />Project form available moneys of the Agency; and <br />E. WHEREAS, the Agency has determined that those moneys to be <br />advanced on and after the date hereof to pay the Expenditures are <br />available only for a temporary period and it is necessary to reimburse the <br />Agency for the Expenditures from the proceeds of the Obligations. <br />Section 2. The Agency hereby states its intention and reasonably expects to <br />reimburse Expenditures paid prior to the issuance of the obligations or the approval by <br />the State Water Board of the Project Funds. <br />Resolution No, 2016 -068 <br />Page 1 of 3 <br />