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55A - RESO SCE STREET LIGHTS
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55A - RESO SCE STREET LIGHTS
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Last modified
3/29/2018 7:42:40 PM
Creation date
3/29/2018 7:21:43 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Public Works
Item #
55A
Date
4/3/2018
Destruction Year
2023
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EXHIBIT F <br />OPINION OF LESSEE'S COUNSEL <br />April 6, 2018 <br />Holman Capital Corporation <br />25201 Paseo de Alicia, Suite 290 <br />Laguna Hills, CA 92603 <br />Re: Equipment Lease -Purchase Agreement and Equipment Schedule both dated April 6, 2018 <br />Ladies and Gentlemen: <br />As counsel to the City of Santa Ana (the 'Lessee'), I have examined the Equipment Lease - <br />Purchase Agreement and Equipment Schedule both dated April 6, 2018 (collectively, the "Lease <br />Agreement'), between the Lessee and Holman Capital Corporation, as lessor ('Lessor'), the form of the <br />Escrow Deposit Agreement, together the Disbursement Request Form and Certificate of Acceptance <br />(collectively, the "Escrow Agreement'), and the proceedings taken by the Governing Body of the Lessee <br />to authorize on behalf of the Lessee the execution and delivery of the Lease Agreement and the Escrow <br />Agreement and the investment of the lease proceeds (if any) into the Permitted Investment (as such term is <br />defined in the Escrow Agreement). The Lease Agreement and the Escrow Agreement, together with all <br />documents, exhibits, certificates and attachments thereto are herein collectively referred to as the <br />"Transaction Documents. " Based upon the foregoing examination and upon an examination of such other <br />documents and matters of law as I have deemed necessary or appropriate, I am of the opinion that: <br />1. The Lessee is a charter city and municipal corporation, which is duly established and validly <br />existing under the Constitution and laws of the State of California and constitutes a "political subdivision" <br />of the State as such term is defined under Section 103 of the Internal Revenue Code of 1986, as amended, <br />with full power and authority to enter into the Transaction Documents. <br />2. The Transaction Documents have each been duly authorized, executed, and delivered by the <br />Lessee. The Permitted Investment has been duly authorized by the Lessee. Assuming due authorization, <br />execution and delivery thereof by Lessor, the Transaction Documents constitute legal, valid, and binding <br />obligations of the Lessee, enforceable against the Lessee in accordance with their respective terms, subject <br />to any applicable bankruptcy, insolvency, moratorium or other laws or equitable principles affecting the <br />enforcement of creditors' rights generally. <br />3. The Lessee has complied with any applicable public bidding requirements in connection with <br />the Transaction Documents and the transactions contemplated thereby. The resolution adopted by the <br />Governing Body of the Lessee authorizing the execution and delivery of the Transaction Documents, the <br />investment of lease proceeds into the Escrow Account and Permitted Investments, and certain other matters <br />was adopted at a meeting that was held in compliance with all applicable laws relating to the holding of <br />open and public meetings. <br />4. No litigation or proceeding is pending or, to the best of my knowledge, threatened to restrain or <br />enjoin the execution, delivery, or performance by the Lessee of the Transaction Documents or in any way <br />to contest the validity of the Transaction Documents, to contest or question the creation or existence of the <br />Lessee or the Governing Body of the Lessee or the authority or ability of the Lessee to execute or deliver <br />the Transaction Documents or to comply with or perform its obligations thereunder. There is no litigation <br />55A-133 <br />
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