Laserfiche WebLink
RESOLUTION NO. 96-033 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CiTY OF <br /> SANTA ANA PROVIDING FOR THE FINANCING OF THE <br /> CITY OF SANTA ANA RECYCLING PROJECT AND APPROVING <br /> THE EXECUTION AND DELIVERY OF CERTAIN DOCUMENTS <br /> IN CONNECTION THEREWITH <br /> WHEREAS , this City Council (the "City Council") of the City of <br /> Santa Ana (the "City" ) proposes that the City finance various <br /> recycling components of its solid waste disposal facilities (the <br /> "Project" ) described in Exhibit A to the within mentioned <br /> Installment Purchase Contract; and <br /> WHEREAS , in connection with the financing of such Project, the <br /> City Council has determined that is in the best interest of the <br /> City to cause to be delivered certificates of participation (the <br /> "Ce rtificates" ) by the California Environmental Finance Corporation <br /> (the "Corporation" ) ; <br /> WHEREAS , the City has determined that dedication of its <br /> revenues , and in particular its solid waste collection revenues , <br /> toward the payment of long-term financing, will benefit the <br /> taxpayers and ratepayers of the City and that such dedication of <br /> reliable revenue sources and the related higher credit ratings are <br /> of considerable importance to investors purchasing long-team <br /> financing obligations of the City; <br /> NOW, THEREFORE, the City Council of the City hereby finds, <br /> determines , declares and resolves as follows : <br /> SECTION 1 . The City Council of the City hereby confirms and <br /> ratifies that ex-;enditures for components of the Projects made <br /> prior to the date hereof or the issuance of Certificates have and <br /> will be made, as the case may be , with the intention that the City <br /> be reimbursed for such expenditures with proceeds of a tax-exempt <br /> financing. <br /> SECTION 2 . The Installment Purchase Contract for the Project <br /> to be prepared with the assistance of City staff and the City <br /> Attorney, is hereby approved. The Mayor (or the authorized <br /> representative of the Mayor) , the City Manager and the Clerk of the <br /> Council are hereby authorized and directed to execute and deliver <br /> the Installment Purchase Contract with such changes, insertions and <br /> omissions as may be approved by the officer executing the same and <br /> the City Attorney, said execution being conclusive evidence of such <br /> approval . <br />