HomeMy WebLinkAbout1993-08-17; Municipal Water District; 222; Designation of Persons - Debt ObligationsOF THE ISSUFR FOR CERTAIN DEBT OBLIGATIONS
RECOMMENDED ACTION:
Adopt Resolution No. aq? d esignating persons to act on the behalf of the issuer for
certain debt obligations.
ITEM EXPLANATION:
The Carlsbad Municipal Water District has issued debt in which a trustee has been hired to
administer the debt repayment. However, from time to tune, it is necessary for the District
to instruct the trustee as to the investment or transfer of funds and payment of expenses.
Due to changes in City staff representation for the District, it is now necessary to update the
list of those persons authorized to instruct the trustee. The attached resolution provides the
authorization for certain employees to act on behalf of the District with respect to the debt
obligation.
FISCAL IMPACT:
None.
EXHIBITS:
1. Resolution No. 8 q 4 d esignating persons to act on the behalf of the issuer for
certain debt obligations.
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RESOLUTION NO. 849
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE CARLSBAD MUNICIPAL WATER DISTRICT, CALIFORNIA DESIGNATING PERSONS TO ACT ON THE BEHALF OF THE ISSUER FOR CERTAIN DEBT OBLIGATIONS
WHEREAS, the following debt obligation is currently outstanding:
Costa Real Municipal Water District Certificates of
Participation - Reservoir and Water Facilities 1988
Refunding and Financing Project; and
WHEREAS, it is necessary from time to time for the issuer to
instruct the trustee for this debt obligation as to the investment of funds,
transfers of money and other transactions relating to the debt issue; and
WHEREAS, under the terms of the trust indenture, the Board has
the authority to designate certain persons to act on behalf of the Board with
respect to the trust agreement.
NOW, THEREFORE, BE IT RESOLVED by the Board as follows:
1. That the above recitations are true and correct.
2. That the following persons are duly authorized to act on the
behalf of the Board with respect to the trust indenture for the above named
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debt issue which would include signing written instructions, consents,
certificates and/or other securities, etc.:
Executive Director
City Assistant City Manager
City Financial Management Director
City Finance Director
City Assistant Finance Director
PASSED, APPROVED AND ADOPTED at a regular meeting of the
Board of Directors of the Carlsbad Municipal Water District on the 17tb day
of AUGUST 3 1993, by the following vote, to wit:
AYES: Board Members Lewis, 'Stanton, Nygaard, Finnila
NOES: None
ABSENT: Board Member Finnila
ATTEST:
ALETHA L. RAUTJZNKRANZ, Secret