HomeMy WebLinkAbout2018-069 - Sewer Collection System Improvements Project Reimbursementjmf 8/14/18
RESOLUTION NO. 2018-069
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA ANA AUTHORIZING THE REIMBURSEMENT OF
FUNDING FOR THE SEWER COLLECTION SYSTEM
IMPROVEMENTS PROJECT FROM THE STATE WATER
RESOURCES CONTROL BOARD
WHEREAS, the City of Santa Ana ("Agency") desires to finance the costs of
constructing and/or reconstructing certain public facilities and improvements relating to
its water and wastewater system, including specifically the Sewer Collection System
Improvements Project ("Project'); and
WHEREAS, the Agency intends to finance the construction and/or reconstruction
of the Project or portions of the Project with moneys (`Project Funds") provided by the
State of California, acting by and through the State Water Resources Control Board
("State Water Board"); and
WHEREAS, the State Water Board may fund the Project Funds with proceeds from
the sale of obligations the interest upon which is excluded from gross income for federal
income tax purposes ("Obligations"); and
WHEREAS, prior to the issuance of the Obligations or the approval by the State
Water Board of the Project Funds, the Agency desires to incur certain capital
expenditures ("Expenditures") with respect to the Project from available moneys of the
Agency; and
WHEREAS, the Agency has determined that those moneys to be advanced on
and after the date hereof to pay the Expenditures are available only for a temporary
period, and it is necessary to reimburse the Agency for the Expenditures from the
proceeds of the Obligations.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Santa
Ana as follows:
Section 1. The Agency hereby states its intention and reasonably expects to
reimburse Expenditures paid prior to the issuance of the Obligations or the approval by
the State Water Board of the Project Funds.
Section 2. The reasonably expected maximum principal amount of the Project
Funds is $9,500,000.
Section 3. This Resolution is being adopted no later than 60 days after the date
on which the Agency will expend moneys for the construction portion of the Project costs
to be reimbursed with Project Funds.
Resolution No. 2018-069
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Section 4. Each Agency expenditure will be of a type properly chargeable to a
capital account under general federal income tax principles.
Section 5. To the best of our knowledge, this Agency is not aware of the
previous adoption of official intents by the Agency that have been made as a matter of
course for the purpose of reimbursing expenditures and for which tax-exempt obligations
have not been issued.
Section 6. This Resolution is adopted as official intent of the Agency in order to
comply with Treasury Regulation Section 1.150-2 and any other regulations of the Internal
Revenue Service relating to the qualification for reimbursement of Project costs.
Section 7. All the recitals in this Resolution are true and correct, and this Agency
so finds, determines, and represents.
Section 8. This Resolution shall take effect immediately upon its adoption by
the City Council, and the Clerk of the Council shall attest to and certify the vote adopting
this Resolution.
ADOPTED this 18t' day of September, 2018.
APPROVED AS TO FORM:
Sonia R. Carvalho, City Attorney
By: /� `�'l�
Jo M. Funk
Assistant City Attorney
AYES:
NOES:
ABSTAIN:
NOT PRESENT:
Resolution No. 2018-069
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Councilmembers Benavides, Martinez, Pulido, Sarmiento, Solorio,
Tinaiero, Villegas (7)
Councilmembers None (0)
Councilmembers
Councilmembers None (0)
CERTIFICATE OF ATTESTATION AND ORIGINALITY
I, MARIA D. HUIZAR, Clerk of the Council,
Resolution No. 2018-069 to be the original
City of Santa Ana on September 18, 2018.
Date:
jmf 8/14/18
do hereby attest to and certify the attached
resolution adopted by the City Council of the
C-7;1� ki-L-6r, -�'D-/56A -"�
Maria D. Huizar
Clerk of the Council
City of Santa Ana
Resolution No. 2018-069
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