94-058 RESOLUTION NO. 94R-58
RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF ANAHEIM, CALIFORNIA, AUTHORIZING CERTAIN
EXPENDITURES WITH RESPECT TO THE CITY'S UTILITY SYSTEMS
TO BE REIMBURSED FROM FUTURE
LONG-TERM FINANCING
WHEREAS, the City of Anaheim (the "city") has
undertaken the design, planning and construction of improvements
and additions to the City's telecommunications system relating to
its water and electrical systems and other municipal services,
such as remote video training for police and fire, remote
lighting control for parks and recreation, and local municipal
area network connection for data processing and facility
maintenance, which improvements and additions primarily consist
of controls, protection, telemetry, SCADA and voice
telecommunications (the "Project"); and
WHEREAS, the City has begun or will begin to make
expenditures with respect to costs of the Project; and
WHEREAS, the city intends to make arrangements to
provide long-term financing for costs of the Project, which
financing may be structured so as to bear interest which is
excluded from gross income for Federal income tax purposes; and
WHEREAS, the city has not yet finalized the
arrangements for such long-term financing for costs of the
Project, but is proceeding with the Project at this time by
making expenditures (from sources other than proceeds of such
long-term financing) on an interim basis with the intention that
such expenditures be reimbursed from proceeds of such long-term
financing to the maximum extent permitted by law and prudent in
the judgment of the City, and the City desires to confirm its
intentions with respect to such expenditures;
NOW, THEREFORE, BE IT RESOLVED that:
SECTION ~: Pending the consummation of such long-term
financing, the City has made, and intends to continue to make,
expenditures with respect to the Project on an interim basis from
monies in the Electric Revenue Fund.
S~.C~ION 2: The City intends that expenditures made on
an interim basis from such Electric Revenue Fund with respect to
costs of the Project prior to the consummation of such long-term
financing are, to the fullest extent possible, to be reimbursed
LA01 \60?0\12985.4 94601.3
to the City from the proceeds of such long-term financing upon
its consummation; provided, however, that the maximum principal
amount of debt to be issued with respect to the Project shall not
exceed $10,100,000.
SBCTION 3: While the City is not bound to proceed with
long-term financing for the Project, the City reasonably expects,
based on all presently existing relevant facts and circumstances
after due inquiry, to proceed with such long-term financing for
the Project, and to reimburse itself from the proceeds of such
financing.
SECTIO~ 4: This resolution shall take effect on its
date of adoption.
PASSED AND ADOPTED this 12th day of April 1994,
by the following vote:
AYES: Feldhaus, Simpson, Hunter, Daly
NOES: None
ABSENT: Pickler
ATTEST:
~. Cl%y Cler~
LA01 \6070\12985,4 2 94601
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss.
CITY OF ANAHEIM )
I, LEONORA N. SOHL, City Clerk of the City of Anaheim, do hereby certify that the foregoing Resolution
No. 94R-58 was introduced and adopted at a regular meeting provided by law, of the Anaheim City
Council held on the '12th day of April, 1994, by the following vole of the members thereof:
AYES: COUNCIL MEMBERS: Feldhaus, Simpson, Hunter, Daly
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: Pickler
AND I FURTHER CERTIFY that the Mayor of the City of Anaheim signed said Resolution No. 94R-58
on the 13th day of April, 1994.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of
Anaheim this 13th day of April, 1994.
,iI~¢~'.CITY CLERK OF THE OF ANAHEIM
(SEAL)
I, LEONORA N. SOHL, City Clerk of the City of Anaheim, do hereby certify that the foregoing is the
original of Resolution No. 94R-58 was duly passed and adopted by the City Council of the City of
Anaheim on April 12, 1994.