Laserfiche WebLink
D. The City and the Authority have determined that it would be in the best <br />interests of the City and the Authority to provide the funds necessary to <br />refinance the Project and fund additional projects (the "2014 Project) <br />through the offering and sale of bonds of the Authority, designated "Santa <br />Ana Financing Authority Water Revenue Refunding Bonds, Series 2014 <br />(Payable Solely from Installment Payments Secured by Water System Net <br />Revenues)" (the "Bonds "); <br />E. In order to accomplish such refinancing and financing of the 2014 Project <br />the City and the Authority desire to enter into a new Master Installment <br />Purchase Agreement (the "Master Installment Agreement') and a First <br />Supplement to Master Installment Purchase Agreement (the "First <br />Supplement'); <br />F. The Authority and the City desire that The Bank of New York Mellon Trust <br />Company, N.A., as trustee (the "Trustee ") and the Authority enter into an <br />Indenture (the "Indenture ") in order to provide for the issuance of the <br />Bonds; <br />G. The Bonds will be issued pursuant to the Marks -Roos Local Bond Pooling <br />Act of 1985, commencing with Section 6584 of the California Government <br />Code; <br />H. The funds representing the Installment Payments payable by the City <br />under the First Supplement will be applied to the payment and redemption <br />of the Prior Bonds pursuant to an Escrow Agreement (the "Escrow <br />Agreement') by and among the City, the Authority and The Bank of New <br />York Mellon Trust Company, N.A., as escrow agent; <br />I. Stifel, Nicolaus & Company, Incorporated, as underwriter (the <br />"Underwriter "), has submitted to the City and the Authority a proposed <br />form of an agreement to purchase the Bonds in the form of a Bond <br />Purchase Agreement (the 'Purchase Contract'); <br />J. A form of the Preliminary Official Statement (the 'Preliminary Official <br />Statement") to be distributed in connection with the public offering of the <br />Bonds has been prepared; <br />K. The City is a member of the Authority and the Project is to be located <br />within the boundaries of the City; <br />L. The Governing Board has been presented with the form of each document <br />referred to herein relating to the refinancing contemplated hereby, and the <br />Governing Board has examined and approved each document and <br />desires to authorize and direct the execution of such documents and the <br />consummation of such refinancing; and <br />Resolution No. 2014 -XXX <br />Page 2 of 6 <br />55394.00011 \8780240.5 80A -236 <br />