APFA-2007-002RESOLUTION NO. R- 2007- 002
A RESOLUTION OF THE ANAHEIM PUBLIC
FINANCING AUTHORITY DECLARING ITS
OFFICIAL INTENT TO REIMBURSE
CERTAIN EXPENDITURES FROM PROCEEDS
OF INDEBTEDNESS
WHEREAS, the Board of Directors of the Anaheim Public Financing
Authority (the "Issuer") intends to acquire, construct, and improve certain facilities
relating to the City of Anaheim's sewer infrastructure system (the "Project");
WHEREAS, the Issuer expects to pay certain expenditures (the
"Reimbursement Expenditures") in connection with the Project prior to the issuance of
indebtedness for the purpose of financing costs associated with the Project on a long-term
basis;
WHEREAS, the Issuer reasonably expects that debt obligations in an
amount not expected to exceed $55,000,000 will be issued and that certain of the
proceeds of such debt obligations will be used to reimburse the Reimbursement
Expenditures;
WHEREAS, proceeds of such debt obligations will be allocated to
Reimbursement Expenditures no later than 18 months after the later of (i) the date the
cost is paid, or (ii) the date the project is placed in service or abandoned (but in no event
more than three years after the cost is paid); and
WHEREAS, Section 1.150-2 of the Treasury Regulations requires the
Issuer to declare its reasonable official intent to reimburse prior expenditures for the
Project with proceeds of a subsequent borrowing.
NOW, THEREFORE, the Issuer hereby resolves and declares:
Section 1. The Issuer finds and determines that the foregoing recitals
are true and correct.
Section 2. This resolution and declaration is made solely for purposes
of establishing compliance with the requirements of Section 1.150-2 of the Treasury
Regulations. This resolution and declaration does not bind the Issuer to make any
expenditure, incur any indebtedness, or proceed with the Project.
Section 3. The Issuer hereby declares its official intent to use proceeds
of indebtedness to reimburse itself for Reimbursement Expenditures.
Section 4. This resolution and declaration shall take effect from and
after its adoption.
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THE FOREGOING RESOLUTION is approved and adopted by the Board
of Directors of the Anaheim Public Financing Authority this 27tYtiay of February
2007, by the following roll call vote:
AYES: Chairman Pringle, Authority Members Hernandez, Galloway,
Sidhu, Kring
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
ANAHEIM PU FINANCIN THORITY
By
CHAIRMAN
ATTEST•
SECRETARY
64543.1
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