80A - JOINT - SAFA - WATER SYS BONDS

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OFFICIAL STATEMENT SANTA ANA FINANCING AUTHORITY WATER REVENUE REFUNDING BONDS, SERIES 2014 INTRODUCTION General The purpose of this Official Statement of the Santa Ana Financing Authority (the "Authority ") is to furnish information regarding the issuance and sale of $ ` principal amount of Santa Ana Financing Authority Water Revenue Refunding Bonds, Series 2014 (the "Bonds ") pursuant to the provisions of an Indenture of Trust, dated as of 2014 (the "Indenture ") between the Authority and The Bank of New York Mellon Trust Company, N.A. (the "Trustee "). The Bonds will be issued pursuant to the Marks -Roos Local Bond Pooling Act of 1985 (Article 4, Chapter 5, Division 7, Title 1 of the California Government Code) (the "Bond Law "). The Authority and the City The Authority was established pursuant to a Joint Exercise of Powers Agreement dated August 1, 1993, between the City of Santa Ana (the "City ") and the Santa Ana Redevelopment Agency (the "Agency "), now the Successor Agency to the Santa Ana Redevelopment Agency. The Authority was created for the purpose of providing financing for public capital improvements jointly owned and operated by the City and the Agency. The City of Santa Ana, county seat of Orange County and one of the oldest communities in Southern California, is located 33 miles southeast of Los Angeles, 20 miles east of the Ports of Los Angeles and Long Beach, ten miles inland from the Pacific Ocean and 90 miles north of San Diego. The City encompasses an area of approximately 27 square miles and lies on generally level land at an elevation approximately 135 feet above sea level. The City provides traditional city services, including fire protection (192 sworn personnel with ten stations) and police protection (329 and three stations). The City, has approximately [1,492] employees. The Water System provides water service through the municipal water department to over 44,657 accounts. There are two libraries and 41 parks in the City. Public education for grades K -12 is provided by the Santa Ana Unified School District, the Garden Grove Unified School District, the Orange Unified School District and the Tustin Unified School District. The City has served as the county seat since the formation of Orange County in 1889. Numerous government offices have taken advantage of the City's central location and position as county seat. City, county, state and federal offices are conveniently located in the multi - government civic center in the heart of the City. The City has an industrial base which supports the local economy. The City Council is composed of seven members elected biannually at large to four year alternating terms. The Mayor and Mayor Pro -Tem are selected by the City Council. The City has a council /manager form of government. The City Manager is appointed by the City Council to manage the daily affairs of the City and to implement policies established by the Council. For other selected information concerning the City, see "APPENDIX A - CITY OF SANTA ANA GENERAL DEMOGRAPHIC INFORMATION." Purpose The Bonds are being issued (i) to provide funds to refund in full the Authority's Water Revenue Refunding Bonds, Series 2004, delivered in the initial principal amount of $20,110,000, of which $12,785,000 is currently outstanding (the "Prior Obligations "), (ii) to finance a portion of the acquisition and construction of x Preliminary, subject to change. 80A -141