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RES-2014-122 RESOLUTION NO. 2014- 122 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM DECLARING ITS OFFICIAL INTENT TO REIMBURSE CERTAIN ELECTRIC UTILITY FUND EXPENDITURES FROM THE PROCEEDS OF BONDS OR OTHER OBLIGATIONS. WHEREAS, the City of Anaheim (the "City"), in furtherance of the Capital Improvements Program of the City's Public Utilities Department, intends to replace aging infrastructure that is nearing the end of its useful life and make system enhancements such as substation improvements, transformers and cable, automation equipment, and field switches (collectively, the "Capital Projects"); and WHEREAS, the City anticipates incurring certain expenditures from its Electric 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, 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 $70,000,000 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 1. The foregoing recitals are true and correct. 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 expected to exceed $70,000,000 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. Section 5. This Resolution shall take effect immediately upon adoption. _ __ _ _ � __ THE FOREGOING RESOLUTION was approved and adopted by the City Council of the City of Anaheim at a regular meeting of said City Council held on the 15th day of July , 2014, by the following roll call vote: AYES: �Yor Tait, Council Members Ea.stman, Murray, Brandman and Kring NOES: None ABSTAIN: None ABSENT: None CITY OF ANAHEIM MA OR OF THE CITY OF ANAHEIM ATTEST: CITY CLERK OF THE CITY OF A AHEIM 101407 __ _ . _