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F. The CPUC approved the Purchase and Sale Agreement in November 2017. <br />G. To provide funding for the purchase of the Streetlights System, it is proposed <br />that the City enter into an eleven -year financing agreement with Holman Capital <br />Corporation in an amount not to exceed $8,608,053, which sum includes principal <br />and interest costs. <br />H. In addition to providing funding for the Streetlights System, the proposed <br />financing agreement with Holman Capital Corporation will provide funding for: the <br />purchase and installation of energy efficient LED lighting for the streetlights by <br />Siemens, Inc.; the installation of lighting in under -lit areas; a reserve contingency; <br />a master plan for fiber optics; the installation of metering and controls; and the <br />documentation fee for the financing agreement. Agreements for these additional <br />components will be approved and entered into separately. <br />I. City staff issued a Request for Qualifications on March 1, 2018 from several <br />financial firms to provide the necessary funding for the Streetlights System. <br />Holman Capital Corporation was selected on the basis of the lowest Interest rate. <br />Holman Capital specializes in financing the equipment, infrastructure, and facilities <br />of state and local governments, educational institutions, and healthcare providers <br />nationwide. <br />Section 2. The City Council of the City of Santa Ana hereby authorizes the City <br />Manager or Executive Director of Finance to enter into an eleven year financing <br />agreement with Holman Capital Corporation, in an amount not to exceed $8,608,053 <br />(including principal and interest), to provide funding for the City's purchase of the <br />Streetlights System from Southern California Edison pursuant to the Purchase and Sale <br />Agreement previously approved by the City Council on April 4, 2017, which funding shall <br />include the purchase and installation of LED lighting and the related projects described <br />above. The City Manager or Executive Director of Finance is also authorized to execute <br />any documents or make any assurances that are necessary as part of the financing <br />agreement. <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 3rd day of April, 2018. <br />Resolution No. 2018-022 <br />Page 2 of 3 <br />