Santa Ana Municipal Code § 28-7 Rules and regulations

The city is authorized and empowered:

(a) To determine the location and character of any project to be financed under the provisions of this chapter, and to finance such projects by making or purchasing loans to participating parties therefor.

(b) To issue bonds for the purpose of financing or otherwise assisting the acquisition of projects authorized by this chapter and for the purpose of funding or refunding bonds.

(c) To fix fees, charges and interest rates for financing any project, and to revise such fees, charges and interest rates from time to time, and to collect interest and principal on any loan made to a participating party together with such fees and charges incurred in such financing, and to contract with any person, partnership, association, corporation or public agency with respect thereto.

(d) To hold deeds of trust as security for financing any project and to pledge the same as security for repayment of bonds issued therefor.

(e) To establish the terms and conditions for the financing of any project undertaken pursuant to this chapter.

(f) To require that the full amount owed on any loan for the financing of a project pursuant to this chapter shall be due and payable upon sale or other transfer of ownership of such project.

(g) To acquire, by deed, purchase,lease, contract, gift, devise, or otherwise, any real or personal property, structures, rights, rights-of-way, franchises, easements, mortgages and other interests in property located within the state necessary or convenient for the financing or acquisition of a project, upon such terms and conditions as it deems advisable and to lease, sell or dispose of the same in such manner as may be necessary or desirable to carry out the objects and purposes of this chapter.

(h) To employ or contract for such engineering, architectural, accounting, collection, economic feasibility, or other services in connection with the servicing of loans made to participating parties, as may be necessary in the judgment of the city council for the successful financing of a project. The city may pay the reasonable costs of consulting engineers, architects, accountants, construction experts, and economic feasibility experts, if, in the judgment of the city council, such services are necessary to the successful financing of a project and if the city is not able to provide such services. The city may employ, contract for, and fix the compensation of financing consultants, bond counsel, and other advisers as may be necessary in its judgment to provide for the issuance and sale of bonds.

(i) In addition to all other powers specifically granted in this chapter, to do all things necessary or convenient to carry out the purposes of this chapter.

(Ord. No. NS-1609, § 1,11-16-81)

The city shall not have the power to operate any project as a business. Furthermore, the city shall not realize a profit from any project financed pursuant to this chapter nor shall the city compete with any private firm in connection therewith. The city shall take no more action with respect to any project than is necessary to promote the public interests of the city.

(Ord. No. NS-1609, § 1, 11-16-81)

Participating parties may apply for financing pursuant to this chapter by filing an application with the city in such form and with such person or office as shall be specified by the rules and regulations. Applications shall set forth all information required to evaluate the financial reliability and stability of the participating party and the feasibility of the proposed project, and to verify and assure that the long-term employment of residents of the city will be increased. Among all other information, agreements and undertakings required to be contained therein, applications shall include an estimate of the maximum amount of bonds proposed to be issued, a description or itemization of the costs of the proposed project, and an agreement to pay all administrative expenses for the proposed project.

(Ord. No. NS-1609, § 1,11-16-81)

Upon receipt of an application containing all require information, agreements and undertakings, the city council shall at such time as is deemed convenient by it, review such application and any staff recommendations with respect thereto. If the city council chooses to approve any application, it shall adopt a resolution in which it:

(1) Finds and determines that the proposed project described in the application:

(a) Promotes the long-term employment of residents of the city,

(b) Will not adversely affect areas outside the boundaries of the city or transient residents of the state, and

(c) Is in the public interests of the city and constitutes a municipal affair of the city, a valid exercise of the police powers of the city, and a public purpose in which the city has a peculiar and unique interest, and

(2) Accepts and approves such application and the participation of the city in the financing of such project, subject to the provisions of this chapter and the conclusion of all proceedings undertaken to consummate such financing to the satisfaction of the city.

(Ord. No. NS-1609, § 1,11-16-81)

All proceedings taken in connection with the processing of applications and the financing of projects shall be in accordance with this chapter and with such rules and regulations as promulgated, and as shall be amended or supplemented from time to time, by the city manager of the City of Santa Ana in furtherance of this chapter.

(Ord. No. NS-1609, § 1,11-16-81)