55394.00068\42104979.1
Resolution No. 2024-XXX
LR 5/7/24
RESOLUTION NO. 2024-XXX
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE CITY OF SANTA ANA
PUBLIC FINANCING AUTHORITY DECLARING ITS INTENT TO ISSUE LEASE
REVENUE BONDS TO BE USED TO REIMBURSE THE CITY OF SAN TA ANA
PUBLIC FINANCING AUTHORITY FOR EXPENDITURES PRIOR TO THE
ISSUANCE OF SUCH BONDS
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF S ANTA ANA PUBLIC FINANCING AUTHORITY AS FOLLOWS:
Section 1. The Board of Directors of the City of Santa Ana Public Financing Authority hereby finds, determines and declares as follows:
A. WHEREAS, the City of San ta Ana Public Financing Authority (the “Authority”) plans to issue tax -exempt lease revenue bonds (the “Obligations”) to fund the improvements to the City’s water distribution system (the “Project”); and
B. WHEREAS, the Authority reasonably expects to use a portion of the proceeds of the Obligations to reimburse the Authority for expenditures on the Project.
Section 2. Declaration of Official Intent . The Authority hereby declares its official intent, subject to the further approval of this Board of Directors, to use up to $30,000,000 of the proceeds of the Obligations to reimburse for expenditures on the Project. It is intended that this Resolution shall constitute a declaration of “official intent” within the meaning of Section 1.150 -2 of the Treasury Regulations promulgated under Section 150 of the Internal Revenue Code, as amended.
Section 3. Other Approvals. The adoption of this Resolution shall not bind the Authority to proceed with execution and delivery of the Obligations until and unless all other necessary actions and appro vals are taken or received in accordance with all applicable laws, at the discretion of the Authority.
Section 4. Effective Date. This Resolution shall take effect immediately upon its adoption by the Board of Directors, and the Secretary of the Board sha ll attest to and certify the vote adopting this Resolution.
ADOPTED this __ day of ___, 2024.
[Signatures on following page]
EXHIBIT 2
Resolution No. 2024-XXX
_______________________
Valerie Amezcua
Chairperson
APPROVED AS TO FORM:
Sonia R. Carvalho
Authority Attorney
By:________________________
Laura A. Rossini
Chief Assistant Authority Attorney
AYES: Board members _______________________________________
NOES: Board members _______________________________________
ABSTAIN: Board members _______________________________________
NOT PRESENT: Board members _______________________________________
CERTIFICATE OF ATTESTATION AND ORIGINALITY
I, JENNIFER HALL, Secretary of the Board, do hereby attest to and certify that the attached Resolution No. ______ to be the original resolution adopted by the Board of Directors of the City of Santa Ana Public Financing Authority on _____, 2024.
Date: ________________ ____________________________________ Jennifer L. Hall
Secretary of the Board