HomeMy WebLinkAbout2016-067 - Sewer Collection System Improvements(jxs 7120/16)
RESOLUTION NO. 2016 -067
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA ANA AUTHORIZING CITY PARTICIPATION IN THE
CALIFORNIA CLEAN WATER STATE REVOLVING FUND
FINANCING PROGRAM FOR SEWER COLLECTION
SYSTEMIMPROVEMENTS
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS
FOLLOWS:
Section 1. The City Council of the City of Santa Ana hereby finds, determines
and declares as follows:
A. WHEREAS, the City of Santa Ana (the "Agency') desires to finance the
costs of constructing and /or reconstructing certain public facilities and
improvements relating to its water and wastewater system, including
certain treatment facilities, pipelines, and other infrastructure (the
"Project'); and
B. WHEREAS, the Agency intends to finance the construction and /or
reconstruction of the Project or portions of the Project with moneys
( "Project Funds") provided by the State of California, acting by and
through the State Water Resources Control Board ( "State Water Board ");
and
C. WHEREAS, the State Water Board may fund the Project Funds with
proceeds from the sale of obligations the interest upon which is excluded
from gross income for federal income tax purposes (the "Obligations');
and
D. WHEREAS, prior to either the issuance of the Obligations or the approval
by the State Water Board of the Project Funds, the Agency desires to
incur certain capital expenditures (the "Expenditures ") with respect to the
Project form available moneys of the Agency; and
E. WHEREAS, the Agency has determined that those moneys to be
advanced on and after the date hereof to pay the Expenditures are
available only for a temporary period and it is necessary to reimburse the
Agency for the Expenditures from the proceeds of the Obligations.
Section 2. The Agency hereby states its intention and reasonably expects to
reimburse Expenditures paid prior to the issuance of the obligations or the approval by
the State Water Board of the Project Funds.
Resolution No. 2016 -067
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Section 3. The reasonably expected maximum principal amount of the Project
Funds is $9.5 Million.
Section 4. This resolution is being adopted no later than 60 days after the date
on which the Agency will expend moneys for the construction portion of the Project
costs to be reimbursed with Project Funds.
Section 5. Each Agency expenditure will be of a type properly chargeable to a
capital account under general federal income tax principles.
Section 6. To the best of our knowledge, this Agency is not aware of the previous
adoption of official intents by the Agency that have been made as a matter of course for
the purpose of reimbursing expenditures and for which tax - exempt obligations have not
been issued.
Section 7. This resolution is adopted as official intent of the Agency in order to
comply with Treasury Regulation §1.150 -2 and any other regulations of the Internal
Revenue Service relating to the qualification for reimbursement of Project costs.
Section 8. All the recitals in this Resolution are true and correct and this Agency
so finds, determines and represents
Section 9. BE IT FURTHER RESOLVED that the Executive Director of the Public
Works Agency, or his /her designee, is hereby authorized as Signature Authority to
execute all documents necessary to implement and secure payment; and
Section 10. BE IT FURTHER RESOLVED that this authorization is effective until
rescinded by this governing body.
Section 11. This Resolution shall take effect immediately upon its adoption by the
City Council, and the Clerk of the Council shall attest to and certify the vote adopting
this Resolution.
ADOPTED this 2nd day of August, 2016.
APPROVED AS TO FORM:
Sonia R. Carvalho, City Attorney
By: ' C�,L"u
V Jose Sandoval
Chief Assistant City Attorney
Resolution No. 2016 -067
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Qxs 7/20/16)
AYES: Councilmembers: Benavides, Pulido, Reyna, Tinaiero (4)
NOES: Councilmembers: Martinez (1)
ABSTAIN: Councilmembers: None (0)
NOT PRESENT: Councilmembers: Amezcua, Sarmiento (2)
CERTIFICATE OF ORIGINALITY
I, MARIA D. HUIZAR, Clerk of the Council, do hereby certify the attached Resolution
No. 2016 -067 to be the original resolution adopted by the City Council of the City of
Santa Ana on August 2, 2016.
Date: ®aA7�
Clerk of the Council
City of Santa Ana
Resolution No. 2016 -067
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