RES-2007-077RESOLUTION NO. 2007R- 0
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ANAHEIM AMENDING RESOLUTION 2003R -58 DECLARING
ITS CONTINUING OFFICIAL INTENT TO REIMBURSE
CERTAIN EXPENDITURES FROM THE PROCEEDS OF BONDS
OR OTHER OBLIGATIONS
WHEREAS, the City of Anaheim (the "City intends to acquire, construct and /or
improve various water storage, transmission and distribution facilities (the "Capital Projects and
WHEREAS, the City anticipates incurring certain expenditures from its Water Utility
Fund (the "Reimbursement Expenditures in connection with the Capital Projects prior to the
issuance of indebtedness for the purpose of financing costs associated with the Capital Projects on
a long -term basis; and
WHEREAS, when the City adopted Resolution 2003R -58, the City estimated that it
reasonably expected that debt or other obligations were to be issued in an amount not expected to
exceed $20,000,000 for Capital Projects included at that time, but not limited to, Nohl Canyon Tank,
and that certain of the proceeds of such debt obligations would be used to reimburse the
Reimbursement Expenditures; and
WHEREAS, since the adoption of Resolution 2003R -58, additional information and
opportunities are now available so it is logical and appropriate for the City to consider additional
Capital Projects; and
WHEREAS, the City Council of the City of Anaheim finds and determines that it is
in the best interests of the City and its residents to increase the expected debt or other obligations
amount from $20,000,000 to amounts that will sufficiently fund the additional anticipated Capital
Projects including, but not limited to, the Nohl Canyon Tank, Walnut Canyon Reservoir, the
construction of new wells, the improvements to the transmission and distribution system which
include the rehabilitation or replacement of several main lines, and ongoing security and
communication improvements; and
WHEREAS, the public interest, economy, and general welfare will be served in
connection with these Capital Projects and others; and
WHEREAS, the City now reasonably expects that debt or other obligations in an
amount not expected to exceed $60,000,000 will be issued and that certain of the proceeds of such
debt obligations will be used to reimburse the Reimbursement Expenditures.
NOW, THEREFORE, the City Council of the City of Anaheim hereby finds,
determines and declares:
Section 2. This Resolution is adopted solely for purposes of establishing compliance
with the requirements of Section 1.150 -2 of the U.S. Treasury Regulations. This Resolution does
not bind the City to make any expenditure, incur any indebtedness, or proceed with any of the
Capital Projects.
Section 3. The City hereby declares its official intent to incur debt or other
obligations in an amount not to exceed $60,000,000 and to use a portion of the proceeds thereof to
reimburse itself for Reimbursement Expenditures.
Section 4. The Assistant General Manager Finance Administration of the
City's Public Utilities Department is hereby authorized and directed to keep such records and take
such other actions as may be necessary or desirable to carry out the purposes of this Resolution.
THE FOREGOING RESOLUTION is approved and adopted by the City Council of
the City of Anaheim this 5th day of June 2007 and shall take effect from and after its
adoption.
AYES: Mayor Pringle, Council Members Hernandez, Sidhu, Galloway, Kring
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE
ATTEST:
amk65206.3
Section 1. That the foregoing recitals are true and correct.
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CITY 0 ANAHEIM
MAYOR OF THE Y ANAHEIM