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RESOLUTION No. SAPFA 22-003 <br />RESOLUTION F THE GOVERNING NING BOARD OF THE <br />SANTA ANA PUBLIC FINANCING AUTHORITY <br />AUTHORIZING ING THE EXECUTION AND DELIVERY BY THE <br />AUTHORITY IT F A MASTED INSTALLMENT PURCHASE <br />AGREEMENT, A FIRST SUPPLEMENT TO MASTED <br />INSTALLMENT PURCHASE AGREEMENT, AN <br />INDENTURE, AN ESCROW AGREEMENT AND A <br />PURCHASE AGREEMENT IN CONNECTION WITH THE <br />ISSUANCE OF SANTA A A. PUBLIC FINANCING <br />AUTHORITY WATER REVENUE ENUE BONDS, SERIES 2024, <br />AUTHORIZING THE ISSUANCE OF SUCH BONDS IN AN <br />AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED <br />$47,000,000, AUTHORIZING IZING THE DISTRIBUTION OF AN <br />OFFICIAL STATEMENT IN CONNECTION WITH THE <br />OFFERING AND SALE OF SUCH BONDS} AND <br />AUTHORIZING THE EXECUTION of NECESSARY <br />DOCUMENTS AND CERTIFICATES AND RELATED <br />ACTIONS <br />BE IT RESOLVED BY THE GOVERNING BOARD D of THE SANTA AN <br />PUBLIC FINANCING AUTHORITY AS FOLLOWS: <br />SECTION 1. The Governing Board of the Santa Ana Public Financing Authority <br />(the "Authority") hereby finds, determines and declares as follows: <br />A. The City of Santa Ana (the "City") wishes to finance the costs of the <br />acquisition, construction and installation of certain garter system capital <br />improvements (the `Project") pertaining to the City's water system (the 'Water <br />System"); <br />B. The City and the Santa Ana Public Financing Authority have previously <br />financed costs of the Water system with the issuance of $15,690,000 original <br />principal amount of Santa Ana Financing Authority Water Revenue Refunding <br />Bonds, series 2014 (the "2014 Bonds"); <br />C. The City and the Authority have determined that it would be in the hest <br />interests of the City and the Authority to provide the funds necessary to refinance <br />the 2014 Bonds and finance the Project through the offering and sale of bonds of <br />the Authority, designated "Santa Ana Public Financing Authority Water Revenue <br />Bonds, series 20" (the "Bonds"); <br />D. In order to accomplish such refinancing and financing of the Project the City <br />and the Authority desire to enter into a new Master Installment Purchase <br />Resolution No. SAPFA 0 4-00 <br />Page I of <br />