RES-2014-122 RESOLUTION NO. 2014- 122
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ANAHEIM DECLARING ITS OFFICIAL INTENT TO
REIMBURSE CERTAIN ELECTRIC UTILITY FUND
EXPENDITURES FROM THE PROCEEDS OF BONDS OR
OTHER OBLIGATIONS.
WHEREAS, the City of Anaheim (the "City"), in furtherance of the Capital
Improvements Program of the City's Public Utilities Department, intends to replace aging
infrastructure that is nearing the end of its useful life and make system enhancements such as
substation improvements, transformers and cable, automation equipment, and field switches
(collectively, the "Capital Projects"); and
WHEREAS, the City anticipates incurring certain expenditures from its Electric
Utility Fund (the "Reimbursement Expenditures") in connection with the Capital Projects prior
to the issuance of indebtedness for the purpose of financing costs associated with the Capital
Projects on a long-term basis; and
WHEREAS, the public interest, economy and general welfare will be served in
connection with these Capital Projects and others; and
WHEREAS, the City now reasonably expects that debt or other obligations in an
amount not expected to exceed $70,000,000 will be issued and that certain of the proceeds of
such debt obligations will be used to reimburse the Reimbursement Expenditures.
NOW, THEREFORE, the City Council of the City of Anaheim hereby finds,
determines, and declares:
Section 1. The foregoing recitals are true and correct.
Section 2. This Resolution is adopted solely for purposes of establishing
compliance with the requirements of section 1.150-2 of the U.S. Treasury Regulations. This
Resolution does not bind the City to make any expenditure, incur any indebtedness, or proceed
with any of the Capital Projects.
Section 3. The City hereby declares its official intent to incur debt or other
obligations in an amount not expected to exceed $70,000,000 and to use a portion of the
proceeds thereof to reimburse itself for Reimbursement Expenditures.
Section 4. The Assistant General Manager - Finance & Administration of the
City's Public Utilities Department is hereby authorized and directed to keep such records and
take such other actions as may be necessary or desirable to carry out the purposes of this
Resolution.
Section 5. This Resolution shall take effect immediately upon adoption.
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THE FOREGOING RESOLUTION was approved and adopted by the City
Council of the City of Anaheim at a regular meeting of said City Council held on the 15th day
of July , 2014, by the following roll call vote:
AYES: �Yor Tait, Council Members Ea.stman, Murray, Brandman and Kring
NOES: None
ABSTAIN: None
ABSENT: None
CITY OF ANAHEIM
MA OR OF THE CITY OF ANAHEIM
ATTEST:
CITY CLERK OF THE CITY OF A AHEIM
101407
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