HomeMy WebLinkAbout2004-034 Not Adopted
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RESOLUTION NO. 2004-034
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA ANA SUPPORTING THE PROPOSED
ACQUISITION OF THE ASSETS OF THE SAN JOAQUIN
HILLS TRANSPORTATION CORRIDOR AGENCY AND
THE FOOTHILL/EASTERN TRANSPORTATION
CORRIDOR AGENCY BY THE TRANSPORTATION
CORRIDOR SYSTEM
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA, AS
FOLLOWS:
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C. The City .of Santa Ana is a party ta the jaint pawers agreements far bath
the SJHTCA and the F/ETCA and is a member public entity with a representative an the
Baard .of Directars .of bath .of said agencies.
D. In early 2002, the $JHTCA and the F/ETCA (callectively referred ta
hereinafter as "the agencies") began analyzing the feasibility .of creating a single agency
ta manage and .operate the Caunty's tall-raad system.
E. In April 2003, the agencies created the Transpartatian Carridar System
("TCS"), a jaint pawers autharitycorTlpased .of the members .of the twa agencies ta study
patential acquisitian .of the assets of the agencies.
F. The City .of Santa Ana is a member .of the TCS with a representative an
the Baard .of Directors.
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G. Fallawing nearly twa years .of comprehensive analysis, a propased plan
has been prepared and presented ta the agencies (the "recammended finance plan")
which identifies ways ta establish lang-term financial stability far the tall-road system.
Resolution No. 2004-034
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H. Key elements .of the recammended finance plan include the propased
issuance .of approximately $3.9 billian in nan-recaurse tall-revenue bands, including an
estimated $3.4 billian in Seniar Lien Fixed-Rate Bands and $475 millian in Juniar Lien
Fixed Rate Bands which wauld be paid aut .of future tall revenues and develapment
impact fees.
Sectian .
the City Cauncil,
this Resalutian.
ADOPTED this <;lay .of
,2004.
f
Miguel A. Pulida
Mayar
<
'-;';<~.:';
APPROVED AS TO FORM:
Jaseph W. Fletcher, City Attarney
By:
Benjamin Kaufman
Chief Assistant City Attarney
Resolution No. 2004-034
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AYES:
Cauncilmembers:
NOES: Cauncilmembers:
ABSTAIN: Cauncilmembers:
NOT PRESENT: Cauncilmembers:
CERTIFICATE OF ATTESTATION AND ORIGINALITY
Date:
attest ta and certify the
ian adapted by the City
Resolution No. 2004-034
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