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LS 2.6.18 <br />RESOLUTION NO. 2018-005 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA APPROVING THE DISSOLUTION OF THE <br />COUNTYWIDE PUBLIC FINANCING AUTHORITY <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA, AS <br />FOLLOWS: <br />Section 1. The City Council of the City of Santa Ana conclusively finds, <br />determines and declares as follows: <br />A. The Countywide Public Financing Authority (the "Authority") was created by <br />the cities of Brea, Buena Park, Fullerton, Garden Grove, Orange, Santa Ana, <br />Seal Beach, Stanton and Tustin (collectively, the "Members") pursuant to a joint <br />powers agreement dated June 19, 1996 (the "JPA Agreement'). The Authority <br />was created to provide a vehicle to financing projects beneficial to the Members. <br />B. The Authority has no remaining assets, liabilities or other outstanding <br />obligations, and is not a party to any outstanding material contracts. <br />C. The Members desire to dissolve the Authority and terminate the JPA <br />Agreement. <br />NOW, THEREFORE, it is hereby ORDERED and DETERMINED, as follows: <br />Section 2. The City, as a Member, hereby elects to terminate the JPA Agreement <br />and to dissolve the Authority which dissolution shall take effect upon the concurrence of <br />all of the Members. <br />Section 3. The City authorizes Quint & Thimmig LLP, Larkspur, California, to <br />provide all necessary documentation to the State Controller to effectuate such <br />dissolution. <br />Section 4. The City authorizes the City Manager and the Finance Director to do <br />any and all things and execute and deliver any and all documents which they may deem <br />necessary or advisable in order to consummate, carry out, give effect to and comply <br />with the terms and intent of this resolution and the dissolution of the Authority. Any <br />actions heretofore taken by such person in furtherance off any of the actions authorized <br />herein are hereby ratified, confirmed and approved. <br />Section 5. 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 />Resolution No. 2018-005 <br />Page 1 of 2 <br />