RESOLUTION NO. 2023-_____
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ANAHEIM DECLARING IT S OFFICIAL INTENT TO
REIMBURSE CERTAIN WATER UTILITY FUND
EXPENDITURES FROM TH E PROCEED S OF BONDS OR
OTHER OBLIGATIONS.
WHEREAS, the City of Anaheim ( “City”), in furtherance of the Capital Improvements Program of the City ’s Public Utilities Department, intends to construct and/or improve various water facilities, including general distribution, transmission and storage assets (collectively, “Capital Projects”); and
WHEREAS, the City anticipates incurring certain expenditures from its Water Utility Fund (“Reimbursement Expenditures”) in connection with the Capital Projects prior to the issuance of indebtedness for the purpose of financing costs associated with the Capital Projects on a long-term basis; and
WHEREAS, the public interest, economy and general welfare will be served in connection with these Capital Projects and others; and
WHEREAS, the City now reasonably expects that debt or other obligations in an amount not expected to exceed $60,000,000 will be issued and that certain of the proceeds of such debt obligations will be used to reimburse the Reimbursement Expenditures.
NOW, THEREFORE BE IT RESOLVED, the City Council of the City of Anaheim hereby finds, determines and declares:
1. The foregoing recitals are true and correct.
2. This Resolution is adopted solely for purposes of establishing compliance with the requirements of section 1.150-2 of the U.S. Treasury Regulations. This Resolution does not bind the City to make any expenditure, incur any indebtedness, or proceed with any of the Capital Projects.
3. The City hereby declares its official intent to incur debt or other obligations in an amount not expected to exceed $ 60,000,000 and to use a portion of the proceeds thereof to reimburse itself for Reimbursement Expenditures.
4. The Assistant General Manager – Finance & Energy Resources of the City’s Public Utilities Department is hereby authorized and directed to keep such records and take such other actions as may be necessary or desirable to carry out the purposes of this Resolution.
5. This Resolution shall take effect immediately upon adoption.
2 THE FOREGOING RESOLUTION is approved and adopted by the City Council of the City of Anaheim at a regular meeting o f the City Council held on the ______ day of _________________, 2023, by the following roll call vote:
AYES:
NOES:
ABSTAIN:
ABSENT:
CITY OF ANAHEIM
_______________________________
MAYOR OF THE CITY OF ANAHEIM
ATTEST:
_____________________________________
CITY CLERK OF THE CITY OF ANAHEIM
150317/137597123.2