4414ORDINANCE NO. 4414
AN ORDINANCE OF THE CITY COUNCIL OF THE
CITY OF ANAHEIM, CALIFORNIA, PROVIDING
FOR PROCEDURES FOR THE AUTHORIZATION,
ISSUANCE AND SALE OF ELECTRIC REFUNDING
REVENUE BONDS OF SAID CITY
WHEREAS, the City of Anaheim (the "City") is a municipal
corporation organized and existing under a charter duly and regularly
adopted pursuant to the provisions of the Constitution of the State
of California (the "Charter"); and
WHEREAS, pursuant to Section 1210 of the Charter, the City,
acting by and through its City Council, has authorized and will
authorize, on behalf of the City, electric revenue bonds payable from
revenues of its electric system; and
WHEREAS, pursuant to Section 1210.1 of the Charter, elec-
tric refunding revenue bonds may be issued to purchase, redeem or
retire any electric revenue bonds of the City heretofore or hereafter
issued pursuant to Section 1210 or 1210.1 of the Charter, whenever
the City Council of the City determines that (1) costs of the City
will be reduced by the refunding of electric revenue bonds, or
(2) issuance of the electric refunding revenue bonds will otherwise
be financially advantageous to the City; and
WHEREAS, the City Council of the City, acting under and
pursuant to the powers reserved to the City under Section 5 of
Article XI of the Constitution of the State of California and Section
1210.1 of the Charter, finds that the public interest and necessity
require the establishment by this procedural Ordinance of procedures
for the authorization, issuance and sale of electric refunding reve-
nue bonds for the purchase, redemption, or retirement of any electric
revenue bonds of the City issued pursuant to Section 1210 or 1210.1
of the Charter;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ANAHEIM
DOES ORDAIN AS FOLLOWS:
SECTION 1. That the City Council, exercising the powers
reserved to the City under Section 5 of Article XI of the
Constitution of the State of California and Section 1210.1 of the
Charter, may when the public interest and necessity require, by reso-
lution or resolutions, issue electric refunding revenue bonds to pro-
vide funds for the purchase, redemption or retirement of any electric
revenue bonds of the City issued pursuant to Section 1210 or
Section 1210.1 of the Charter. Each resolution of the Citv Council
shall contain a determination by the City Council that the issuance
of the electric refunding revenue bonds will reduce costs of the City
or/and will otherwise be financially advantageous to the City.
SECTIQN 2. That the procedure for the issuance of
electric refunding revenue bonds shall be the procedure set forth in
Section 3 of this Ordinance together with the procedure set forth in
the Revenue Bond Law of 1941 (commencing with Section 54300 of the
Government Code of the State of California), and by this reference,
with the exceptions hereinafter stated, the provisions of said Law
are incorporated herein; provided, however, that
(a) No election to authorize the issuance of said bonds
shall be held, and to that end Sections 54380 to 54387 of said
Government Code are not incorporated herein and shall not be
applicable to the issuance of said bonds;
(b) The restrictions of Government Code Sections 54310 and
54662 shall not apply, and to that end said Sections 54310 and
54662 are not incorporated herein;
(c) The City Council may sell such bonds in such manner as
it may determine, either by private sale, or by means of compet-
itive bid, and to that end Government Code Section 54388 is not
incorporated herein;
(d) Said bonds may be sold at such discount as the City
Council may determine, and to that end Government Code
Section 54418 is not incorporated herein; and
(e) Said bonds shall bear interest at such rates, payable
at such times, as the City Council may determine, notwithstand-
ing any restriction contained in Government Code Section 54402.
SECTION 3. That the electric refunding revenue bonds will
also be issued in accordance with the provisions of Sections 53580
through 53585 of the Government Code of the State of California, and
said provisions, by this reference, are incorporated herein. Said
refunding bonds may be issued at any time in a principal amount suf-
ficient to provide funds for any or all of the following, as deter-
mined by resolution of the City Council: (a) payment of the princi-
pal of, premium (if any) on, and interest to the date of maturity or
prior redemption on, the bonds to be so refunded; (b) deposits to
bond reserve funds for said refunding bonds; (c) all or a portion of
the interest on said refunding bonds from the date thereof to such
date or dates as the City Council shall determine; (d) any discount
involved in the sale of said refunding bonds; and (e) all other costs
or expenses incidental to or in connection with the authorization,
issuance or sale of said refunding bonds and the purchase, redemption
or retirement of the bonds to be so refunded.
SECTION 4. That the "enterprise" referred to in the pro-
visions of the Revenue Bond Law of 1941 incorporated herein is the
entire electric system of the City of Anaheim, including all
improvements and extensions later constructed or acquired.
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SECTION 5. That the City Clerk shall cause this Ordinance
to be published once, within fifteen (15) days after its adoption, in
The Anaheim Bulletin, the official newspaper of the City.
SECTION 6. This Ordinance shall become effective thirty
days from and after the date of its adoption.
ADOPTED, SIGNED AND APPROVED this26thday of April, 1983.
(SEAL)
ATTEST:
CIT LERK OF THECITY OF
ANAHEIM
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/G•
MAYOR OF THE CITY OF ANAHEIM
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF ANAHEIM )
I, LINDA D. ROBERTS, City Clerk of the City of Anaheim, do hereby certify that
the foregoing Ordinance No. 4414 was introduced at a regular meeting of the
City Council of the City of Anaheim, held on the 5th day of April, 1983, and
that the same was duly passed and adopted at a regular meeting of said City
Council held on the 26th day of April, 1983, by the following vote of the
members thereof:
AYES: COUNCIL MEMBERS: Kaywood, Pickler, Overholt, Bay and Roth
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
AND I FURTHER CERTIFY that the Mayor of the City of Anaheim signed said
Ordinance No. 4414 on the 26th day of April, 1983.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal
of the City of Anaheim this 26th day of April, 1983.
CITY CLERK OF THE CITY OP --ANAHEIM
(SEAL)
I, LINDA D. ROBERTS, City Clerk of the City of Anaheim, do hereby certify that
the foregoing is the original Ordinance No. 4414 and was published once in the
Anaheim Bulletin on the 5th day of May, 1983.
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