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Resolution No. 2024-XXX <br />Page 1 of 2 <br />RESOLUTION NO. 2024-XXX <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA APPROVING REVISIONS TO THE <br />MUNICIPAL SECURITIES DISCLOSURE POLICY <br />AND PROCEDURES <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 hereby finds determines <br />and declares as follows: <br />A.The City of Santa Ana and its related entities issue municipal bonds, notes, <br />and other obligations (“Obligations”) from time to time that are offered to the <br />investing public. <br />B.Publicly offered debt obligations and securities, such as bo nds or certificates <br />of participation, are offered pursuant to an Official Statement or other type of <br />offering document that must comply with the “anti-fraud rules” of the federal <br />securities laws. (“Antifraud rules” refers to Section 17 of the Securities Act of <br />1933 and Section 10(b) of the Securities and Exchange Act of 1934, and <br />regulations adopted by the Securities and Exchange Commission under those <br />Acts, particularly “Rule 10-b-5” under the 1934 Act.) <br />C.The City of Santa Ana determined that it would be proper in the management <br />of its financial affairs to establish policies of the City and its related entities <br />with respect to the preparation of disclosure documents and the continuing <br />disclosure requirements related to the public offering Obligations. <br />D.On June 21, 2016, the City Council approved the Municipal Securities <br />Disclosure Policy and Procedures. <br />E.City staff has determined that revisions to the policy to maintain best practices <br />are recommended. These revisions include changes to the obligations of the <br />Disclosure Coordinator, training obligations and minor clerical changes. <br />Section 2. The City Council of the City of Santa Ana hereby approves and <br />adopts the revised Municipal Securities Disclosure Policy and Procedures, a copy of <br />which is attached as Exhibit A. <br />Section 3. This resolution shall supersede and replace Resolution No. 2016- <br />051. <br />EXHIBIT 1