HomeMy WebLinkAbout1968-04-02; City Council; Resolution 15103.
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IdOES: None.
PAYING AGENCY AGREENUT?
Dated:
Security First National Bank
Corporate Trust Division
124 West Fourth Street
Los Angeles , California
Gentlemen:
Under Ordinance No. 1099 dated November 15, 1966, as amended by Ordinance No.
1100 dated December 13, 1966, the City of Carlsbad has authorized the issuance of
$295,000 principaL amount of bonds designated "1966 Library Bonds".
payable annually for the first year on January I, 1968, and semi-annually thereafter
on the first days of Jdy and Janumy until the maturity of the respective bonds.
Said bonds state they me payable at the office of the City Treasurer, or, at the
option of the holder thereof, at the paying agent of the City in Los Angeles,
California, in Chicago, Illinois, or in New York, New York.
Interest is
We confirm OUT agreement 'with you as follows:
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You are hereby appointed Paying Agent of the City of Carlsbad in Los
Angeles for the payment of principal and interest on the library bonds
of the City, and you are hereby authorized and requested to arrange
with Bankers Trust Company in New York and Harris Trust and Savings
Bank in Chicago to act as Paying Agents in New York and Chicago re-
spectively, charging your account for the payment of bonds and coupons
which may be presented to each for payment.
The City will deposit with you not less than two banking days prior
to each principal or interest date, funds sufficient to meet the
maturing principal and premim, if any, and interest.
Be City will pay your fees arzd expenses as such Paying Agent promptly
upon presentation of your bill therefor in accordance with the schedule
of fees set forth below.
Concurrently with the deposit of funds with you as hereinbefore pro-
vided, the Auditor of the City will file with you a certificate
showing the principal mount of bonds outstanding and the amount
and pacrticular bonds, if any, which are to be redeemed with the
funds deposited therewith.
You shall pay for the account of the City such bonds and coupons
presented to you for that purpose in compliance with the terms of
the bonds as they mature or otherwise become payable.
coupons paid by you shall be cancelled and delivered to the Auditor
of the City.
All bonds and
The City will compensate you for services rendered by you as Paying
Agent in accordance with the foregoing instructions, as follows:
Payment of Interest
For each interest maturity - $0.125 per coupon.
Minimum charge for each maturity - $50.00.
Payment of Principal
At maturity - 1/30th of 1% of the principal amount of bonds paid.
On call prior to maturity - 1/8th of 1% of the principal amount
of bonds paid.
Special Services
For any services not contemplated by the foregoing, a charge based
upon an appraisal of the responsibility and work involved.
Expenses
Expenses for postage, insurance, telephone charges, etc., will be
in addition to the foregoing charges and will be biXLed for at
cost.
'7. The fees of Bankers "rust Company and Harris Trust and Savings Bank
will be paid by you out of the fees collected by you pursuant to the
foregoing schedule.
Accept e d :
SECURITY FIRST WIONAL BANK
Yours very truly,
CITY OF CARLSBAD
BY
And