HomeMy WebLinkAboutSAPFA 2024-002RESOLUTION NO.2024-002
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
CITY OF SANTA ANA PUBLIC FINANCING AUTHORITY
DECLARING ITS INTENT TO ISSUE LEASE REVENUE
BONDS TO BE USED TO REIMBURSE THE CITY OF
SANTA ANA PUBLIC FINANCING AUTHORITY FOR
EXPENDITURES PRIOR TO THE ISSUANCE OF SUCH
BONDS
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF SANTA
ANA PUBLIC FINANCING AUTHORITY AS FOLLOWS:
Section 1. The Board of Directors of the City of Santa Ana Public Financing
Authority hereby finds, determines and declares as follows:
A. WHEREAS, the City of Santa Ana Public Financing Authority (the "Authority")
plans to issue tax-exempt lease revenue bonds (the "Obligations") to fund the
improvements to the City's water distribution system (the "Project"); and
B. WHEREAS, the Authority reasonably expects to use a portion of the proceeds
of the Obligations to reimburse the Authority for expenditures on the Project.
Section 2. Declaration of Official Intent. The Authority hereby declares its
official intent, subject to the further approval of this Board of Directors, to use up to
$30,000,000 of the proceeds of the Obligations to reimburse for expenditures on the
Project. It is intended that this Resolution shall constitute a declaration of "official intent"
within the meaning of Section 1.150-2 of the Treasury Regulations promulgated under
Section 150 of the Internal Revenue Code, as amended.
Section 3. Other Approvals. The adoption of this Resolution shall not bind the
Authority to proceed with execution and delivery of the Obligations until and unless all
other necessary actions and approvals are taken or received in accordance with all
applicable laws, at the discretion of the Authority.
Section 4. Effective Date. This Resolution shall take effect immediately upon its
adoption by the Board of Directors, and the Secretary of the Board shall attest to and
certify the vote adopting this Resolution.
ADOPTED this 7th day of Mav, 2024.
[Signatures on following page]
Resolution No. 2024-002
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APPROVED AS TO FORM:
Sonia R. Carvalho, Authority Attorney
By:�&Al -'. 1` 04y— i
Laura A. Rossini
Cheif Assistant Authority Attorney
AYES: Board members Amezcua, Bacerra, Hernandez, Lopez,
Penaloza, Phan, Vazquez (7)
NOES: Board members None (0)
ABSTAIN: Board members None (0)
NOT PRESENT: Board members None (0)
CERTIFICATE OF ATTESTATION AND ORIGINALITY
I, JENNIFER HALL, Secretary of the Board, do hereby attest to and certify that the
attached Resolution No. 2024-002 to be the original resolution adopted by the Board of
Directors of the City of Santa Ana Public Financing Authority on May 7, 2024.
Date:
Secretanl er
ry Boar
Resolution No. 2024-002
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