RES-2016-127RESOLUTION NO. 2016— 27
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM
AUTHORIZING THE ISSUANCE OF CITY OF ANAHEIM COMMUNITY
FACILITIES DISTRICT NO. 08-1 (PLATINUM TRIANGLE) SPECIAL
TAX BONDS, SERIES 2016, IN AN AGGREGATE PRINCIPAL AMOUNT
OF NOT TO EXCEED $60,000,000, AUTHORIZING THE EXECUTION
AND DELIVERY OF AN INDENTURE, AN ESCROW AGREEMENT, A
BOND PURCHASE AGREEMENT AND A CONTINUING DISCLOSURE
AGREEMENT AND THE PREPARATION OF AN OFFICIAL
STATEMENT AND OTHER MATTERS RELATED THERETO
WHEREAS, the City Council of the City of Anaheim (the "City Council") has formed
City of Anaheim Community Facilities District No. 08-1 (Platinum Triangle) (the "Community
Facilities District") under the provisions of the Mello -Roos Community Facilities Act of 1982
(the "Act");
WHEREAS, the Community Facilities District is authorized under the Act to levy
special taxes (the "Special Taxes") to pay for the costs of certain public facilities (the
"Facilities") and to issue bonds payable from the Special Taxes;
WHEREAS, in order to provide funds to finance and refinance a portion of the Facilities,
the Community Facilities District issued $28,630,000 aggregate principal amount of City of
Anaheim Community Facilities District No. 08-1 (Platinum Triangle) Special Tax Bonds, Series
2010 (the "Prior Bonds"), pursuant to the Indenture, dated as of August 1, 2010, by and between
the Community Facilities District and U.S. Bank National Association, as trustee;
WHEREAS, the Community Facilities District has determined that it would be
advantageous to refund the outstanding Prior Bonds;
WHEREAS, in order to provide funds to refund the outstanding Prior Bonds and to
finance certain additional Facilities, the Community Facilities District proposes to issue its City
of Anaheim Community Facilities District No. 08-1 (Platinum Triangle) Special Tax Bonds,
Series 2016 (the "Series 2016 Bonds"), in the aggregate principal amount of not to exceed
$60,000,000;
WHEREAS, in order to provide for the authentication and delivery of the Series 2016
Bonds, to establish and declare the terms and conditions upon which the Series 2016 Bonds are
to be issued and secured and to secure the payment of the principal thereof, premium, if any, and
interest thereon, the Community Facilities District proposes to enter into an Indenture with U.S.
Bank National Association, as trustee (the "Trustee") (such Indenture, in the form presented to
this meeting, with such changes, insertions and omissions as are made pursuant to this
Resolution, being referred to herein as the "Indenture");
WHEREAS, the moneys to defease and redeem the Prior Bonds will be applied to such
purpose pursuant to an Escrow Agreement by and between the Community Facilities District and
U.S. Bank National Association, as prior trustee and as escrow bank (such Escrow Agreement, in
the form presented to this meeting, with such changes, insertions and omissions as are made
pursuant to this Resolution, being referred to herein as the "Escrow Agreement");
WHEREAS, Stifel, Nicolaus & Company, Incorporated has presented the Community
Facilities District with a proposal, in the form of a Bond Purchase Agreement, to purchase the
Series 2016 Bonds from the Community Facilities District (such Bond Purchase Agreement, in
the form presented to this meeting, with such changes, insertions and omissions as are made
pursuant to this Resolution, being referred to herein as the "Purchase Agreement");
WHEREAS, Rule 15c2-12 promulgated under the Securities Exchange Act of 1934
("Rule 15c2-12") requires that, in order to be able to purchase or sell the Series 2016 Bonds, the
underwriters thereof must have reasonably determined that the issuer thereof has, or one or more
appropriate obligated persons have, undertaken in a written agreement or contract for the benefit
of the holders of the Series 2016 Bonds to provide disclosure of certain financial information and
certain material events on an ongoing basis;
WHEREAS, in order to cause such requirement to be satisfied, the Community Facilities
District desires to enter into a Continuing Disclosure Agreement with the Trustee relating to the
Series 2016 Bonds (such Continuing Disclosure Agreement, in the form presented to this
meeting, with such changes, insertions and omissions as are made pursuant to this Resolution,
being referred to herein as the "Continuing Disclosure Agreement");
WHEREAS, a form of the Preliminary Official Statement to be distributed in connection
with the public offering of the Series 2016 Bonds has been prepared (such Preliminary Official
Statement, in the form presented to this meeting, with such changes, insertions and omissions as
are made pursuant to this Resolution, being referred to herein as the "Preliminary Official
Statement");
WHEREAS, there have been prepared and submitted to this meeting forms of:
(a) the Indenture;
(b) the Escrow Agreement;
(c) the Purchase Agreement;
(d) the Continuing Disclosure Agreement; and
(e) the Preliminary Official Statement;
WHEREAS, the Community Facilities District desires to authorize the execution of such
documents and the performance of such acts as may be necessary or desirable to effect the
offering, sale and issuance of the Series 2016 Bonds; and
WHEREAS, the City Council is the legislative body of the Community Facilities
District;
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NOW, THEREFORE, the City Council of the City of Anaheim does hereby resolve,
determine and order as follows:
Section 1. The above recitals are true and correct, and the City Council so finds and
determines.
Section 2. Subject to the provisions of Section 3 hereof, the issuance of the Series 2016
Bonds, in an aggregate principal amount of not to exceed $60,000,000, on the terms and
conditions set forth in, and subject to the limitations specified in, the Indenture, be and the same
is hereby authorized and approved. The Series 2016 Bonds shall be dated, shall bear interest at
the rates, shall mature on the dates, shall be subject to call and redemption, shall be issued in the
form and shall be as otherwise provided in the Indenture, as the same shall be completed as
provided in this Resolution.
Section 3. The Indenture, in substantially the form submitted to this meeting and made a
part hereof as though set forth herein, be and the same is hereby approved. Each of the Mayor of
the City, and such other members of the City Council as the Mayor may designate, the City
Manager of the City, the Finance Director of the City, the Deputy Finance Director of the City
and such other officers of the City as the City Manager may designate (the "Authorized
Officers") is hereby authorized, and any one of the Authorized Officers is hereby directed, for
and in the name of the Community Facilities District, to execute and deliver the Indenture in the
form submitted to this meeting, with such changes, insertions and omissions as the Authorized
Officer executing the same may require or approve, such requirement or approval to be
conclusively evidenced by the execution of the Indenture by such Authorized Officer; provided,
however, that such changes, insertions and omissions shall not authorize an aggregate principal
amount of Series 2016 Bonds in excess of $60,000,000, shall not result in a final maturity date of
the Series 2016 Bonds later than September 1, 2046 and shall not result in a true interest cost for
the Series 2016 Bonds in excess of 4.50%.
Section 4. The refunding of the Prior Bonds is hereby approved. Such refunding shall be
accomplished by paying the principal of and interest on the Prior Bonds to and including
September 1, 2016 and redeeming the Prior Bonds on September 1, 2016 by paying the
redemption price therefor. In accordance with Section 53363.8 of the Act, the City Council
hereby designates the following costs and expenses as the "designated costs of issuing the
refunding bonds:"
(a) all expenses incident to the calling, retiring, or paying of the Prior Bonds
and incident to the issuance of the Series 2016 Bonds, including the charges of any agent
in connection with the issuance of the Series 2016 Bonds or in connection with the
redemption or retirement of the Prior Bonds;
(b) the interest upon the Prior Bonds from the date of sale of the Series 2016
Bonds to the date upon which the Prior Bonds will be paid pursuant to call; and
(c) any premium necessary in the calling or retiring of the Prior Bonds.
Section 5. The Escrow Agreement, in substantially the form submitted to this meeting
and made a part hereof as though set forth in full herein, be and the same is hereby approved.
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Each of the Authorized Officers is hereby authorized, and any one of the Authorized Officers is
hereby directed, for and in the name of the Community Facilities District, to execute and deliver
the Escrow Agreement in the form presented to this meeting, with such changes, insertions and
omissions as the Authorized Officer executing the same may require or approve, such
requirement or approval to be conclusively evidenced by the execution of the Escrow Agreement
by such Authorized Officer.
Section 6. The Purchase Agreement, in substantially the form submitted to this meeting
and made a part hereof as though set forth in full herein, be and the same is hereby approved.
Each of the Authorized Officers is hereby authorized, and any one of the Authorized Officers is
hereby directed, for and in the name of the Community Facilities District, to execute and deliver
the Purchase Agreement in the form presented to this meeting, with such changes, insertions and
omissions as the Authorized Officer executing the same may require or approve, such
requirement or approval to be conclusively evidenced by the execution of the Purchase
Agreement by such Authorized Officer; provided, however, that such changes, insertions and
omissions shall not result in an aggregate underwriters' discount (not including any original issue
discount) from the principal amount of the Series 2016 Bonds in excess of 1.00% of the
aggregate principal amount of the Series 2016 Bonds.
The City Council hereby finds and determines that the sale of the Series 2016 Bonds at
negotiated sale as contemplated by the Purchase Agreement will result in a lower overall cost.
Section 7. The Continuing Disclosure Agreement, in substantially the form submitted to
this meeting and made a part hereof as though set forth in full herein, be and the same is hereby
approved. Each of the Authorized Officers is hereby authorized, and any one of the Authorized
Officers is hereby directed, for and in the name of the Community Facilities District, to execute
and deliver the Continuing Disclosure Agreement in the form presented to this meeting, with
such changes, insertions and omissions as the Authorized Officer executing the same may
require or approve, such requirement or approval to be conclusively evidenced by the execution
of the Continuing Disclosure Agreement by such Authorized Officer.
Section 8. The Preliminary Official Statement, in substantially the form presented to this
meeting and made a part hereof as though set forth in full herein, with such changes, insertions
and omissions therein as may be approved by an Authorized Officer, be and the same is hereby
approved, and the use of the Preliminary Official Statement in connection with the offering and
sale of the Series 2016 Bonds is hereby authorized and approved. The Authorized Officers are
each hereby authorized to certify on behalf of the Community Facilities District that the
Preliminary Official Statement is deemed final as of its date, within the meaning of Rule 15c2-12
(except for the omission of certain final pricing, rating and related information as permitted by
Rule 15c2-12).
Section 9. The preparation and delivery of a final Official Statement (the "Official
Statement"), and its use in connection with the offering and sale of the Series 2016 Bonds, be
and the same is hereby authorized and approved. The Official Statement shall be in substantially
the form of the Preliminary Official Statement, with such changes, insertions and omissions as
may be approved by an Authorized Officer, such approval to be conclusively evidenced by the
execution and delivery thereof. Each of the Authorized Officers is hereby authorized, and any
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one of the Authorized Officers is hereby directed, for and in the name of the Community
Facilities District, to execute the final Official Statement and any amendment or supplement
thereto.
Section 10. The assessed values of the property within the Community Facilities District
are set forth in the Preliminary Official Statement and the value -to -lien information with respect
thereto is set forth therein and, based thereon, the City Council, for purposes of Section 53345.8
of the Act, hereby finds and determines that the value of the real property that would be subject
to the Special Tax to pay debt service on the Series 2016 Bonds will be at least three times the
principal amount of the Series 2016 Bonds to be sold and the principal amount of all other bonds
outstanding that are secured by a special tax levied pursuant to the Act on property within the
Community Facilities District or a special assessment levied on property within the Community
Facilities District.
Section 11. The Authorized Officers and the officers and employees of the City are, and
each of them is, hereby authorized and directed, for and in the name of the Community Facilities
District to do any and all things and to execute and deliver any and all documents, including
without limitation amending the City budget to take the transactions set forth above into account,
in addition to those enumerated herein, which they or any of them deem necessary or advisable
in order to consummate the transactions contemplated by this Resolution and otherwise to carry
out, give effect to and comply with the terms and intent of this Resolution.
Section 12. All actions heretofore taken by the officers and employees of the City with
respect to the issuance and sale of the Series 2016 Bonds, or in connection with or related to any
of the agreements or documents referred to herein, are hereby approved, confirmed and ratified.
Section 13. This Resolution shall take effect immediately upon its adoption.
THE FOREGOING RESOLUTION is approved and adopted by the City Council
of the City of Anaheim this 12 t hday of jj, j y , 2016, by the following roll call vote:
AYES: Mayor Pro Tem Kring and Council Members Murray, Brandman,
and Vanderbilt
NOES: None
ABSENT: Mayor Tait
ABSTAIN: None
CITY OF ANAHEIM
W6k OF THE CITY 0 .,..
PRO TEV
ATTEST:
By:
CITY CLERK OF THE CITY OF ANAHEIM
117798
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF ANAHEIM )
I, LINDA ANDAL, City Clerk of the City of Anaheim, do hereby certify that the foregoing
Resolution No. 2016-127 was introduced and adopted at a regular meeting provided by law, of the
Anaheim City Council held on the 12th day of July, 2016, by the following vote of the members
thereof:
AYES: Mayor Pro Tem Kring and Council Members Murray, Brandman and Vanderbilt
NOES: None
ABSTAIN: None
ABSENT: Mayor Tait
IN WITNESS THEREOF, I have hereunto set my hand and affixed the official seal of the City of
Anaheim this 26th day of July, 2016.
CITY CLERK OF THE CITY OF ANAHEIM
(SEAL)