HomeMy WebLinkAbout94-009 - Defeasance of Water Revenue Bonds, Series CRESOLUTION NO.
94- 009
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SANTA ANA AUTHORIZING AND DIRECTING THE
DEFEASANCE OF ITS OUTSTANDING CITY OF SANTA
ANA WATER REVENUE BONDS, SERIES B AND CITY OF
SANTA ANA WATER REVENUE BONDS, SERIES C; AND
DELEGATING TO OFFICERS OF THE CITY THE
AUTHORIZATION TO TAKE NECESSARY ACTIONS.
WHEREAS, the City of Santa Ana (the "City") has heretofore
issued its City of Santa Ana Water Revenue Bonds, Series B and city
of Santa Ana Water Revenue Bonds, Series C (collectively, the
"Prior Bonds") pursuant to Resolution No. 63-178, duly adopted by
the City Council of the City on November 18, 1963 and Resolution
No. 74-75, duly adopted by the City Council of the City on May 6,
1974, respectively; and
WHEREAS, the City has determined, and does hereby declare that
it is necessary and desirable to defease the outstanding Prior
Bonds;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SANTA ANA AS FOLLOWS:
SECTION 1: The Mayor, City Manager or any other proper officer
of the City, acting singly, is hereby authorized and directed, for
and in the name and on behalf of the City, to do any and all things
and to execute and deliver, and the Clerk of the Council is hereby
authorized to attest, seal and deliver any such documents,
including a refunding escrow agreement, as may be required or
advisable in order to affect the defeasance of the outstanding
Prior Bonds as contemplated by this Resolution, and any such action
previously taken by the aforementioned officers are hereby
ratified, confirmed and approved in all respects. Amounts which
may be used to accomplish such defeasance include but are not
limited to any amounts held in any fund or account by the trustee
or paying agent or the City for the Prior Bonds, and amounts made
available through a temporary borrowing from other funds of the
city.
RESOLUTION 94-009
Page 2
SECTION 2:
adoption.
This resolution shall take effect from and after its
ADOPTED this 7th day of March , 1994.
ATTEST:
c en 7o '
Mayor - t
COUNCILME~BERS:
Young
Pulido Aye
Lutz Aye
McGuigan Aye
Mills Aye
Moreno Ay~
Richardson Aye
APPROVED AS TO FORM:
City Attorney
CERTIFICATE OF ORIGINALITY & PUBLICATION
State of California
County of Orange
I, JANICE C. GUY, Clerk of the Council, do hereby certify the attached Resolution
~-00 ~ to be the original resolution adopted by the City Council of the
City of Santa Ana on -~ - 7- ~' ,at/
Date: ~ 2
Clerk of the Coundl
/~// Clerk of the . C /
City of Santa Ana -'