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jmf 1/29/18 <br />RESOLUTION NO. 2018-009 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA ADOPTING THE CITY OF SANTA ANA DEBT <br />MANAGEMENT POLICY <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, and <br />declares as follows: <br />A. California Senate Bill No. 1029 ("SB 1029") was enacted in September 2016 <br />and became effective on January 1, 2017. <br />B. SB 1029 requires state and local agencies to adopt comprehensive debt <br />management policies before any new debt can be issued. <br />C. The City Council wishes to comply with SB 1029 and to adopt the proposed <br />Debt Management Policy for the City of Santa Ana, a copy of which is attached as <br />Exhibit A ("Policy"). <br />D. The City Council has reviewed and considered the Policy <br />Section 2. The City Council of the City of Santa Ana hereby approves and <br />adopts the Policy as the Debt Management Policy for the City of Santa Ana. <br />Section 3. This Resolution shall take effect immediately upon its adoption by <br />the City Council, and the Clerk of the Council shall attest to and certify the vote adopting <br />this Resolution. <br />ADOPTED this 6t" day of February, 2018. <br />APPROVED AS TO FORM: <br />Sonia R. Carvalho, City Attorney <br />BY <br />J n M. Funk <br />Assistant City Attorney <br />Resolution No. 2018-009 <br />Page 1 of 9 <br />