2001-007CITY OF ANAHEIM RESOLUTION NO. 2001R- 7
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ANAHEIM, CALIFORNIA (I) APPROVING THE FORM OF
AND AUTHORIZING EXECUTION AND DELIVERY OF A
FUNDING AGREEMENT WITH THE CALIFORNIA
DEPARTMENT OF WATER RESOURCES RELATING TO THE
SAFE DRINKING WATER STATE REVOLVING FUND;
(II) APPROVING THE FORMS OF AND AUTHORIZING
THE EXECUTION OF AN ASSIGNMENT AGREEMENT, A
FISCAL SERVICES AGREEMENT, A SECURITY
AGREEMENT AND AN ESCROW AGREEMENT; AND
(III) APPROVING CERTAIN ACTIONS IN CONNECTION
THEREWITH
WHEREAS, the City of Anaheim (the "City') and the Anaheim
Public Financing Authority (the ~Authorit~') participated in the
issuance and sale of $20,000,000 in aggregate principal amount of
the Authority's Revenue Bonds, 1994 Series (City of Anaheim Water
Utility Lenain Filtration Plant Project) (the ~Bonds"}; and
WHEREAS, in order to refund the Bonds with net present value
savings to the Water Utility, the City has applied to the
California Department of Water Resources (the "Department") for a
iow-interest loan from the Safe Drinking Water State Revolving
Fund; and
WHEREAS, as stated in a letter from the Department to the
City dated July 17, 2000 (the "Notice of Acceptance"), the
Department has accepted the City's application and has reserved
$18,062,849 to be loaned to the City at an annual interest rate
of 2.7934% with a 20-year repayment period (the "Loan"), upon the
satisfaction of certain conditions; and
WHEREAS, as a condition to the disbursement of Loan
proceeds, the City is required to enter into a Funding Agreement
with the Department (the "Funding Agreement"), the proposed form
of which has been presented to this City Council; and
WHEREAS, to facilitate repayment of the Loan on a parity
with other Qualified Obligations of the City's Water Utility, the
City and the Authority desire to enter into an Amendment and
Assignment Agreement (the ~Assignment Agreement"), the proposed
form of which has been presented to this City Council; and
WHEREAS, as a condition to the disbursement of Loan
proceeds, and to facilitate repayment of the Loan and maintenance
of the reserve contemplated by the Funding Agreement, the City is
required to enter into a Fiscal Services Agreement with a bank or
other fiduciary (the ~Fiscal Services Agreement"), the proposed
form of which has been presented to this City Council; and
WHEREAS, as a condition to the disbursement of Loan
proceeds, the City is required to enter into a Security Agreement
with the Department (the ~Security Agreement"), the proposed form
of which has been presented to this City Council; and
WHEREAS, in order to apply Loan proceeds to the advance
refunding and defeasance of the Bonds, the City and the Authority
desire to enter into an Escrow Agreement with the Trustee for the
Bonds (the "Escrow Agreement"), the proposed form of which has
been presented to this City Council; and
WHEREAS, the City and the Authority have determined that it
would be in the best interests of the City, the Authority, the
Water Utility and the citizens of the City to authorize the
incurrence of the Loan, the execution and delivery of documents
required by the Department in connection with the Loan and the
execution and delivery of the Escrow Agreement in order to refund
the Bonds;
NOW, THEREFORE, the City Council of the City of Anaheim,
California does hereby resolve, determine and order as follows:
SECTION 1: The City Council hereby approves the Loan and
its repayment from Water Utility revenues on a parity with other
Qualified Obligations of the Water Utility pursuant to the
Funding Agreement and the Assignment Agreement; provided, that
the final principal amount, interest rate, repayment period and
reserve requirement thereof are substantially similar to such
terms described in the Notice of Acceptance.
SECTION 2: The City Council hereby approves the Funding
Agreement in the form thereof on file with the City Clerk,
together with such additions thereto and changes therein as are
approved in accordance with Section 1 hereof, such approval to be
conclusively evidenced by the execution and delivery thereof.
The Mayor, the City Manager and the Public Utilities General
Manager are each hereby authorized to execute, and the City Clerk
is hereby authorized to attest and affix the seal of the City to,
the final form of the Funding Agreement, for and in the name and
on behalf of the City, and to approve and execute the Claim for
Reimbursement relating thereto. The City Council hereby
authorizes the delivery and performance of the Funding Agreement.
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SECTION 3: The City Council hereby authorizes the
Assistant General Manager-Water or his designee (so long as such
designee is a registered engineer or a person approved by the
California Department of Health Services) to execute the Budget
and Expenditure Sur~nary and Certification of Project Completion,
as required by the Notice of Acceptance.
SECTION 4: The City Council hereby authorizes the City
Treasurer to establish a project deposit account in accordance
with generally accepted government accounting standards, separate
and distinct from all of other accounts of the City, to
facilitate the City's payments under the Funding Agreement, as
required by the Notice of Acceptance.
SECTION 5: The City Council hereby approves the
Assignment Agreement in the form thereof on file with the City
Clerk, together with such additions thereto and changes therein
as are approved in accordance with Section 1 hereof, such
approval to be conclusively evidenced by the execution and
delivery thereof. The Mayor, the City Manager and the Public
Utilities General Manager are each hereby authorized to execute,
and the City Clerk is hereby authorized to attest and affix the
seal of the City to, the final form of the Assignment Agreement,
for and in the name and on behalf of the City. The City Council
hereby authorizes the delivery and performance of the Assignment
Agreement.
SECTION 6: The City Council hereby approves the Fiscal
Services Agreement in the form thereof on file with the City
Clerk, together with such additions thereto and changes therein
as are approved in accordance with Section 1 hereof, such
approval to be conclusively evidenced by the execution and
delivery thereof. The Mayor, the City Manager and the Public
Utilities General Manager are each hereby authorized to select a
bank or other fiduciary to serve as fiscal agent thereunder and
to execute, and the City Clerk is hereby authorized to attest and
affix the seal of the City to, the final form of the Fiscal
Services Agreement, for and in the name and on behalf of the
City. The City Council hereby authorizes the delivery and
performance of the Fiscal Services Agreement.
SECTION 7: The City Council hereby approves the Security
Agreement in the form thereof on file with the City Clerk,
together with such additions thereto and changes therein as are
approved in accordance with Section 1 hereof, such approval to be
conclusively evidenced by the execution and delivery thereof.
The Mayor, the City Manager and the Public Utilities General
Manager are each hereby authorized to execute, and the City Clerk
is hereby authorized to attest and affix the seal of the City
to, the final form of the Security Agreement, for and in the name
and on behalf of the City. The City Council hereby authorizes
the delivery and performance of the Security Agreement.
SECTION 8: The City Council hereby approves the Escrow
Agreement in the form thereof on file with the City Clerk,
together with such additions thereto and changes therein as are
approved by the officer executing the same, such approval to be
conclusively evidenced by the execution and delivery thereof.
The Mayor, the City Manager and the Public Utilities General
Manager are each hereby authorized to execute, and the City Clerk
is hereby authorized to attest and affix the seal of the City to,
the final form of the Escrow Agreement, for and in the name and
on behalf of the City. The City Council hereby authorizes the
delivery and performance of the Escrow Agreement.
SECTION 9: The Mayor, the City Manager, the Public
Utilities General Manager, the Financial Service Manager of the
Public Utilities Department, the City Treasurer, the City
Attorney and the City Clerk of the City and the other officers,
employees and agents of the City are hereby authorized and
directed, jointly and severally, for and in the name and on
behalf of the City, to do any and all things and to take all
actions, including execution and delivery of any and all
assignments, certificates, requisitions, agreements, notices,
consents, instruments of conveyance, warrants and other documents
which they, or any of them, may deem necessary or advisable in
order to consummate the Loan, to effect the defeasance of the
obligations of the City relating to the Bonds, to effect the
advance refunding and defeasance of the Bonds and to consummate
the transactions contemplated by the Funding Agreement, the
Assignment Agreement, the Fiscal Services Agreement, the Security
Agreement and the Escrow Agreement, and such actions previously
taken by such officers, employees and agents, including but not
limited to the engagement of Fulbright & Jaworski L.L.P. and
Public Financial Management, Inc. in connection with such
transactions, are hereby ratified and confirmed.
SECTION 10: This Resolution shall take effect from and
after its date of adoption.
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PASSED AND ADOPTED this 9th day of January, 2001, by the
following vote:
AYES:
NOES:
ABSENT:
[SEAL]
ATTEST:
Mayor
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
CITY OF ANAHEIM )
I, Sheryll A. Schroeder, City Clerk of the City of Anaheim,
do hereby certify that the foregoing Resolution No. 2001R-
was introduced and adopted at a regular meeting of the City
Council of the City of Anaheim duly called, noticed and held on
the 9th day of January, 2001, by the following vote of the
members thereof:
AYES:
COUNCIL MEMBERS:
NOES : COUNCIL MEMBERS:
ABSENT: COUNCIL MEMBERS:
AND I FURTHER certify that the Mayor of the City of Anaheim
signed said Resolution No. 2001R- on the 9th day of
January, 2001.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
seal of the City of Anaheim this day of ,
2001.
CITY CLERK OF THE CITY OF
ANAHEIM
(SEAL)
I, Sheryll A. Schroeder, City Clerk of the City of Anaheim, do
hereby certify that the foregoing is the original Resolution No.
2001R- duly passed and adopted by the Anaheim City
Council on January 9, 2001.
CITY CLERK OF THE CITY OF
ANAHEIM
38417. I \LMOS ES\December 28, 2000 6
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF ANAHEIM )
I, SHERYLL SCHROEDER, City Clerk of the City of Anaheim, do hereby certify that the foregoing
Resolution No. 2001R-7 was introduced and adopted at a regular meeting provided by law, of the
Anaheim City Council held on the 9th day of ,January, 2001, by the following vote of the members
thereof:
AYES:
MAYOR/COUNCIL MEMBERS: Feldhaus, Kring, Tait, McCracken, Daly
NOES:
MAYOR/COUNCIL MEMBERS: None
ABSENT:
MAYOR/COUNCIL MEMBERS: None
CiTY CLERf~ OF THE CITY OF ANAHEIM
(SEAL)