RES-2010-219 RESOLUTION NO. 2010- 219
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 ( "City"), in furtherance of the Capital
Improvements Program of the City's Public Utilities Department, intends to construct and /or
improve various electric distribution facilities, including substation and distribution system
automation, substation protection and security projects, telecommunication and fiber expansions,
distribution transformer, direct buried cable replacement programs, and other electric
transmissions and distribution system reliability enhancement projects (collectively, "Capital
Projects "); and
WHEREAS, the City anticipates incurring certain expenditures from its Electric
Utility Fund ( "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 is approved and adopted by the City Council
of the City of Anaheim at a regular meeting of the City Council held on the 14th day of
December , 2010, by the following roll call vote:
AYES: Mayor Tait, Council Members Sidhu, Eastman, Galloway, Murray
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE
CITY OF ANAHEIM
MAYOR OF THE CITY OF ANAHEIM
ATTEST:
AAAA zipARAIO
CITY CLERK OF THE CITY OF NAHEIM
80527.1