RES-2007-050RESOLUTION NO. 2007 -050
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ANAHEIM APPROVING THE FORM OF AN INSTALLMENT
PURCHASE AGREEMENT, AN OFFICIAL STATEMENT, A
CONTINUING DISCLOSURE AGREEMENT AND A BOND
PURCHASE AGREEMENT CONCERNING THE
ACQUISITION OF CERTAIN IMPROVEMENTS TO THE
SANITARY SEWER COLLECTION SYSTEM OF THE CITY
AND AUTHORIZING THE EXECUTION AND DELIVERY
THEREOF; AND APPROVING THE ISSUANCE BY THE
ANAHEIM PUBLIC FINANCING AUTHORITY OF NOT TO
EXCEED $55,000,000 AGGREGATE PRINCIPAL AMOUNT
OF SEWER REVENUE BONDS, SERIES 2007
WHEREAS, Chapter 5 of Division 7 of Title 1 of the Government Code of the
State of California (the "Act authorizes local agencies to form a joint powers authority and
authorizes and empowers such an authority to issue bonds for the purpose of financing and
refinancing public capital improvements whenever there are significant public benefits, as
determined by the local agency; and
WHEREAS, the City of Anaheim (the "City and the Redevelopment Agency of
the City of Anaheim have created and established, pursuant to the laws of the State of California,
the Anaheim Public Financing Authority (the "Authority for the purpose, among others, of
assisting in providing financing for public capital improvements under the Act; and
WHEREAS, the City desires to purchase from the Authority certain additions,
betterments, extensions, replacements and improvements (the "Project to its sanitary sewer
collection system (the "System and
WHEREAS, the City has determined that it is in the public interest and furthers
the public purpose and that there are significant public benefits to be derived from securing the
assistance of the Authority in financing the Project, in that the City and the Authority will benefit
from demonstrable savings in the cost of financing the Project and in providing the services of
the System as a result of the issuance of bonds by the Authority pursuant to Article 4 of the Act;
and
WHEREAS, in order to achieve such public benefits, the City desires to approve
the Authority's issuance of not to exceed $55,000,000 in aggregate principal amount of the
Authority's Sewer Revenue Bonds, Series 2007 (the "Bonds to finance the Project; and
WHEREAS, it has been proposed that the City and the Authority enter into an
Installment Purchase Agreement (the "Agreement pursuant to which the Authority will sell the
Project to the City, and the City will agree to make payments to the Authority for the purchase of
the Project, as the terms of such payments are set forth in the Agreement, the proposed form of
which is on file with the City Clerk of the City (the "City Clerk and
WHEREAS, it has been proposed that a Preliminary Official Statement (the
"Preliminary Official Statement be used in connection with the offering of the Bonds, the
proposed form of which is on file with the City Clerk; and
WHEREAS, it has been proposed that the City provide certain information
concerning the System to the holders of the Bonds in accordance with Rule 15c -2 -12 of the
United States Securities and Exchange Commission pursuant to a Continuing Disclosure
Agreement (the "Continuing Disclosure Agreement by the City and accepted and agreed to by
The Bank of New York Trust Company, N.A., as trustee and as dissemination agent, the
proposed form of which is on file with the City Clerk; and
WHEREAS, it has been proposed that the Underwriter will offer to purchase the
Bonds pursuant to a Bond Purchase Agreement (the "Bond Purchase Agreement by and
among the Authority, the City and E.J. De La Rosa Co., Inc., as underwriter (the
"Underwriter the proposed form of which is on file with the City Clerk.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ANAHEIM
DOES HEREBY RESOLVE:
Section 1. The foregoing Recitals are true and correct and are hereby adopted
by the City Council as findings and determinations.
Section 2. The City Council hereby approves the issuance of the by the
Authority in an aggregate principal amount not to exceed $55,000,000.
Section 3. The Agreement, in substantially the form on file with the City
Clerk and incorporated by reference as if fully set forth herein, is hereby approved. Each of the
Mayor, the City Manager, the City Treasurer, the Finance Director and the Assistant Finance
Director (each such officer being hereinafter referred to as an "Authorized Officer severally, is
hereby authorized and empowered to execute the Agreement by manual or facsimile signature
and deliver said document, in substantially said form, with such changes, insertions and deletions
as are approved by the City Attorney and the Authorized Officer executing such document, such
approval to be conclusively evidenced by the execution thereof, and the City Clerk is hereby
authorized and directed to attest to such Authorized Officer's signature.
Section 4. The Preliminary Official Statement, substantially in the form on
file with the City Clerk and incorporated by reference as if fully set forth herein, is hereby
approved. Each Authorized Officer, severally, is hereby authorized and empowered to: prepare,
or cause to be prepared, information concerning the City and the System and their respective
operations and finances for inclusion in an official statement in connection with the Bonds (the
"Official Statement substantially in the form of the Preliminary Official Statement with such
changes, insertions or deletions therein as may be necessary or advisable for the purposes of the
Official Statement and as are approved by the City Attorney. Each Authorized Officer is hereby
authorized and empowered to execute and deliver the Official Statement to the Underwriter.
Section 5. The Continuing Disclosure Agreement, in substantially the form
on file with the City Clerk and incorporated by reference as if fully set forth herein, is hereby
approved. Each Authorized Officer, severally, is hereby authorized and empowered to execute
the Continuing Disclosure Agreement by manual or facsimile signature and deliver said
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document, in substantially said form, with such changes, insertions and deletions as are approved
by the City Attorney and the Authorized Officer executing such document, such approval to be
conclusively evidenced by the execution thereof, and the City Clerk is hereby authorized and
directed to attest to such Authorized Officer's signature.
Section 6. The proposed form of Bond Purchase Agreement, on file with the
City Clerk and incorporated by reference as if fully set forth herein, is hereby approved. Each
Authorized Officer, severally, is hereby authorized and empowered to execute the Bond
Purchase Agreement by manual or facsimile signature and deliver said document, in
substantially the form on file with the City Clerk, with such changes, insertions and deletions as
are approved by the City Attorney and the Authorized Officer executing such document, such
approval to be conclusively evidenced by the execution thereof, and the City Clerk is hereby
authorized and directed to attest to such Authorized Officer's signature.
Section 7. The officers and agents of the City are hereby authorized and
directed, severally, to do any and all things and to execute and deliver any and all documents,
certificates and other instruments which they may deem necessary or advisable in order to
consummate the transaction contemplated in this resolution, all as authorized herein and
described in the Preliminary Official Statement, and otherwise to carry out, give effect to, and
comply with the terms and intent of this resolution and the documents herein approved and
authorized to be executed.
Section 8. 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 24th day of April, 2007, by the following roll call vote:
AYES: Mayor Pringle, Council Members Hernandez, Sidhu, (Z 1lokey, Kring
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
ATTEST:
CITY OF AN EIM
By
C CLERK OF TH T F ANAHEIM
MAYO OF THE CITY EIM
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