HomeMy WebLinkAbout1987 032 CC RESO1987 032 CC RESO8f ;¢f ö Û
»RESOLUTION NO. 87-32
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF BAITWIN PARK APPOINTING
A FISCAL AGENT FOR ASSESSMENT
DISTRICT NO. 86-1
WHEREAS, the City of Baldwin Park the City") has heretofore
adopted Resolution No. 86-68 on August 6, 1986 the Resolution of Issuance"),
authorizing the issuance of improvement bonds designated City of Baldwin
Park/ Inprovemsnt Bonds/ Assessment District No. 86-1" in the principal anount
of $3/430,925.26 the Bonds"); and
WHEREAS/ the City has heretofore entered into a Paying Agent Contract
dated as of August 6/ 1986 the Paying Agent Contract") with Bank of America
National Trust and Savings Association the Paying Agent"); and
WHEREAS, the City desires to assign certain other duties and respon-
sibilities to the Paying Agent/-
NCW, THEREFORE, BE IT RESOLVED BY THE CITY OF BAIDWIN PARK, as
follows
SECTION 1. That the Paying Agent is hereby designated and appointed
Fiscal Agent, Registrar, and Paying Agent collectively/ the Fiscal Agent")
with respect to the Bonds. Fees and costs for such work shall be as set forth
in said firm's letter agreement dated December 5, 1986 and further amsnded by
letter dated January 13, 1987 the Agreemsnt").
SECTION 2. The City Manager is hereby authorized and directed to
execute and deliver the Agreement.
SECTION 3. Amendment to Section 7 of Resolution No. 86-68, the
Fiscal Agent shall hold the Reserve Fund on behalf of the City Treasurer.
The City Treasurer will deposit the unused portion of the Reserve Fund"
with the Fiscal Aaent.
SECTION 4. That the City Clerk shall
this Resolution.
Lfy to the adoption of
il, 1987.
APPROVED AND ADOPTED this 15th day/of
CL^ J^
MAYOR
ATTEST:
/
A L. CR, CITY CLERK
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES) SS.
CITY OF BALDWIN PARK
I, LINDA L. GAIR, City Clerk of the City of Baldwin Park do hereby
certify that the foregoing Resolution was duly and regularly approved and
adopted by the City Council of the City of Baldwin Park at its regular meeting
of the City Council on the 15th day of April, 1987, by the following vote:
AYES:
NOES:
ABSENT:
OOUNCIIMEN GIBSON, IZELL, KING AND MAYOR WHITE
COUNCIIMEN NONE
COUNCIH4EN NONE
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