HomeMy WebLinkAboutResolution No. 1306r
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RESOLU1rI0N'NO. :.
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A' RESQLUT IOAI OF THE CITY. COUNCIL :OF, THE C ITY OF
AZUSA RELATIVE �f..0 TRU;ST.NO BA -243. -INVOLVING PARAMOU'NTTRACT WITH
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"THE BANK`OF ITALY.NATIONAL-TRUST AND,r,iAVINGS ASSOCIATION.
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'TheCity Oouncil of -'the 'City of Azusa does re-'
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solve as follows[-
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WHEREAS`+',the.City Council''of, the City of Azusa'
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by proper' action, -at* said time taken,-.'duri'ng the mon' h< -of 'October,
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1930y. depo's,ited.with the Bank: of Italy:National Trust .and Savings
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As'socrdt'i,on, and/or Bank -of America'Nati:orial Tru at and Savings.'';
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Association, a '.pertain°."Assignment'of Beneficial..a.and Payee Iiit-
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Brest,"y'.'of•.said City :of Azusa in Ti•usrt 'No. BA-2?3,yand/or avails,
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`and
property or proceeds thereof,
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WHEREAS the City of'Azusa at the same .time !filed
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'with said Bank.as"a part of :said Trust'•No. BA=243 .instructions
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as to:.the delivery of-said."As'signment° to.HenryIT"Sc,ott. and.
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WHEREAS,the •City of. Azusa since said. month of
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October, 1;930, hake on•di,fferent occasions filed wit h'said Bank
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amended inatructi'pns:relatiia-t`o said Trus t, and "Aasignment.of
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BenePi'cial'.Payee Interest" iheiein involved, and
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MHEREAS Henry•W. Scott has.utterly failed to COM -
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1-y`with or abide with the' terms' -'of his agreement and instructions
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: as Piled' in said Trust, ;and. r '
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WH-EREAS. the -interested pa''rties in, said Trust agree-
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ment are 'in i da,fault, and.having "xn.'no''"r•espeet-complied with the
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terms 6f,5Laid .agreement :by that to,;bs.performed,and
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t WHEREAS the, CLity of"Azus'a feels t -hat_ -is �is for
the: best imt'arest, for the Cit �•of Asu'sa and part ies,'-invo'lved
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that 'said `'Trust should b'e` t'erminated�' and that that Y"Assignment
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Interest° of ikid" City ,of, Azsa, deposited
. of Beneficie,l.;'Payeeu
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in said: Trust should, be`'`recaed, :a„nd
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1-1 - THEREFORE{ BE IT,.,RESOLVED:..by-.the, City Council'-
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ouncil•'2of�thq city', of Azusa the City of Azusa. withdraw'from said'
3 Trust No. BA�243, 'irid•that- the Bank of. It'sly, National Trust':and
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4SavYn,gs Assoaiati'on''ana/or Bank of Americ,a,Nitional Trust and '
5 Savings' Associati-on be'`;requested to is turn to'the':City of. Azusa
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6.the,"Assignment'of Beneficial Payee.;Inter,est'.' so,deposited
? ^during the .month ='of,October, 1§30 'and als.o:the•,original instruction'•
and a'1`1 amendments or`changed instructiorie,.and
9 :'HE IT'FURTHER RESOLVED that the said Bank..,and/or
110Bariks ar'e.•her aby 'requested to. return al.l..do,cuments•filad by, the.;
1L ,Oity`of A'iusa in' '.or with said Trust No. BA-243,an(t that said
12 Banks are hereb • Advised .that.said'C3. y of 'Azusa has. terminated
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13.it�s,lconnect•ions'with.said Trust and•has':declared `same null and,.
14 'void '.so far, as. the City, of, Azusa is, concerned therein
15- I hereby certify that the foregoiing(;re- ,
16 .' solution was. duly and. reaularly adopted by' the City Council
pf. the -City 'o.f,, Azusa;"Pt'a, reguisf. meeting`,_`,held on the.
,17 !at daq,, of August, 1932, by: the. following vote' of the
?Council': '
18 AYLS Councilmen: Place Johnson' Morden
19 a' aWillihins.Mei r.
20 NOES Nene.
ABSENT,' .None.
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23 qty Clete. ,1e'` ty of..1 zusa ' ..
24 APProved'this •'1•st.day'6P4ugust, R32-.
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26 Mayor ';of, the,
City of Azusa...•
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2s
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