HomeMy WebLinkAboutResolutions - No. 88-142RESOLUTION NO. 88- 142
BEFORE THE CITY COUNCIL OF THE CITY OF
LODI, CALIFORNIA
A RESOLUTION APPOINTING ESCROW BANK, REGISTRAR,
TRANSFER AGENT AND PAYING AGENT AND AUTHORIZING
EXECUTION OF FEE AGREEMENT FOR SERVICES
TURNER ROAD AND CLUFF AVENUE ASSESSMENT DISTRICT NO. 1
(REASSESSMENT AND REFUNDING OF 1988)
RESOLVED, by the City Council of the City of Lodi, California, that
WHEREAS, said Council intends to issue refunding bonds under reassessment
proceedings for the refund and retirement of bonds previously issued and outstanding, and
the issuance of refunding bonds to provide the costs thereof, and
WHEREAS, the public interest and general welfare will be served by appointing and
employing a bank to act as escrow bank, and as Registrar, Transfer Agent and Paying
Agent in the administration of said bonds;
NOW, THEREFORE, IT IS ORDERED that:
1. BANK OF AMERICA NATIONAL TRUSt AND SAVINGS ASSOCIATION, a
national banking association, San Francisco, California, be and it is hereby appointed and
employed to do and perform all services required in the administration of said bonds, and
that its services and compensation therefor are hereby fixed as set forth in the Fee
Agreement on file in the office of the City Clerk; said compensation to be included in the
incidental expenses of said reassessment proceedings as to the escrow fee and set-up fee
for the refunding bonds to be issued, and in the annual reassessment installments as to the
recurring annual fee for the cost of administration and collection of installments on the
refunding bonds issued in the proceedings.
2. That the Director of Finance is hereby authorized to execute said agreement on
behalf of the City and the City Clerk is authorized to attest his signature.
DATED: October 5, 1988.
1, ALICE M. REIMCHE, City Clerk of the City of Lodi, do hereby certify that
Resolution No. 88-142 was passed and adopted at a regular meeting of the City Council
of the City of Lodi, held October 5, 1988, by the following vote:
AYES: Councilmembers - Hinch. Olson, Reid, Snider and
Pinkerton (Mayor)
NOES: Councilmembers - None
ABSENT: Councilmembers - None
ABSTENTIONS: Councilmembers - None
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ALICE M. EIMC E, City Clerk