RES-2022-042RESOLUTION NO.2022-042
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ANAHEIM STATING THAT THE CITY INTENDS TO
CONSTRUCT CERTAIN WATER TREATMENT SYSTEMS
WITH PROJECT FUNDS FROM THE STATE WATER BOARD,
THAT THE FUNDING MAY ORIGINATE INITIALLY FROM
RESTRICTED WATER UTILITY FUNDS, BUT THAT SUCH
FUNDS ARE TO BE REIMBURSED FROM STATE WATER
BOARD OBLIGATIONS.
WHEREAS, the City of Anaheim (the "Agency") desires to finance the costs of the City
of Anaheim constructing and/or reconstructing certain public facilities and improvements relating
to its water system, including certain treatment facilities, pipelines and other infrastructure (the
"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 (the "Obligations"), and
WHEREAS, prior to either 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 (the
"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, THE AGENCY DOES HEREBY RESOLVE, ORDER AND
DETERMINE 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
$85,000,000.
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.
SECTION 4. Each Agency expenditure will be of a type properly chargeable to a capital
account under general federal income tax principles.
SECTION S. 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 ofcourse 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 §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.
THE FOREGOING RESOLUTION is approved and adopted by the City Council of the
City of Anaheim this 2& day of April , 2022, by the following roll call vote:
AYES: Mayor Sidhu and Council Members O'Neil, Diaz,
Ma'ae, Moreno, Valencia and Faessel
NOES: None
ABSENT: None
ABSTAIN: None
CIT OF ANAHEIM
Illf'or,'InIfIcitl O HEIM
CITY C RK OF THE CITY OF ANAHEIM
CAO 145414
CLERK'S CERTIFICATE
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF ANAHEIM )
I, THERESA BASS, City Clerk of the City of Anaheim, do hereby certify that the foregoing is the
original Resolution No. 2022-042 adopted at a regular meeting provided by law, of the Anaheim
City Council held on the 26th day of Anvil 2022 by the following vote of the members thereof:
AYES: Mayor Sidhu and Council Members O'Neil, Diaz, Ma'ae, Moreno, Valencia,
and Faessel
NOES: None
ABSTAIN: None
ABSENT: None
IN WITNESS WHEREOF, I have hereunto set my hand this 27th day of April. 2022.
CITY C ERK OF THE CITY OF ANAHEIM
(SEAL)