HomeMy WebLinkAbout1981-02-10; Parking Authority; Resolution 29RESOLUTION NO. 29
A RESOLUTION OF THE PARKING AUTHORITY OF
THE CITY OF CARLSBAD APPROVING A FISCAL
AGENCY AGREEMENT BETV7EEN SECURITY PACIFIC
NATIONAL BANK AND THE PARKING AUTHORITY
WHEREAS, this Authority is in the process of issuing its
$1,500,000 1981 Parking Revenue Bonds authorized by Resolution
No. 23 of the Authority; and
WHEREAS, said Resolution provides for the appointment of
Security Pacific National Bank as fiscal agent for the
Authority in connection with the bonds;
NOW, THEREFORE, BE IT RESOLVED that the Fiscal Agency
Agreement attached hereto is approved and the Chairm,an of the
Parking Authority is hereby authorized to execute said Fiscal
Agency Agreement on behalf of the Authority.
AYES: Directors Richardson, Dunne, Chase and Goodwin
NOES: None
ABSENT: Director McComas
PASSED, APPROVED AND ADOPTED this 10th day of February,
1981
.rmarr^yPSrking' Authority of
the City/jf Carlsbad, California
ATTEST:
Zlerk, Parking Authority of / ClerkJ
the City of Carlsbad,
California
FISCAL AGENCY AGREEMENT
Security Pacific National Bank
Corporate Trust Division
P.O. Box 30376, Terminal Annex
Los Angeles, California 90030
Gentlemen:
The Parking Authoritv of the City of Carlsbad, hereinafter
called "Issuer", hereby appoints Security Pacific National Bank
(Bank) as Fiscal Agent for the following described duly
authorized obligations of the Issuer:
Principal Amount Description Interest Rate(s)
$1,500,000 1981 Parking
Revenue Bonds
Interest is payable semi-annually on February 1 and August 1
each year until the maturity of the respective obligations.
Said obligations are payable as to principal and interest at
the office of the Bank in the City of Los Angeles, California,
and also at offices of co-paying agents in New York and Chicago.
Our agreement with you is subject to the following terms and
conditions:
1. The bank shall act as Fiscal Agent of the Issuer for the
purpose of receiving revenues, establishing, and maintaining
specified accounts, investing funds as authorized and
performing such other duties as provided in the Issuer's
Resolution Number 23 adopted January 10, 1981.
2. Issuer will pay your fees and expenses as such Fiscal
Agent promptly upon presentation of your statement.
3. The Bank shall pay for the account of the Issuer such bonds
and coupons presented to you for that purpose (either_
directly or through Co-Paying Agents) in compliance with
the terms of the bonds as they mature or otherwise become
payable. Such payments shall be made by the Bank to the
extent that funds are on deposit with you for said purpose.
All bonds and coupons paid by you shall be cancelled and
returned to the Issuer as soon as practicable or held
for destruction by the Bank if so requested in writing
by the Issuer.
4. This agreement will remain in full force and effect until
the issue matures and all funds are disbursed, or until
shaii'be effective upon receipt of such notice.
Very truly yours.
PARKING AUTHORITY OF THE CITY
OF CARLSBAD,
ardson y'
Attest:
Clerk
Dated: ^^/^/
Accepted:
SECURITY PACIFIC NATIONAL BANK
fy/yjt
By:.
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