HomeMy WebLinkAboutResolution No. 91-R240 0
RESOLUTION NO. 91-R24
A RESOLUTION OF THE CITY OF AZUSA
REDEVELOPMENT AGENCY APPROVING AN AGREEMENT
WITH FIRST INTERSTATE TRUST COMPANY OF NEW
YORK TO PROVIDE CO -PAYING AGENT SERVICES FOR
THE REDEVELOPMENT AGENCY OF THE CITY OF AZUSA
$38,350,000 RESIDENTIAL MORTGAGE REVENUE
BONDS, 1979 SERIES A
WHEREAS, the City of Azusa Redevelopment Agency (the
"Agency") has adopted Resolution No. 38, A Resolution Authorizing
the Issuance of Residential Mortgage Revenue Bonds, 1979 Series
A; and
WHEREAS, Article VIII of the aforesaid Resolution No. 38
indicates that a Co -Paying Agent be maintained in or around New
York for the convenience of the Bondholders; and
WHEREAS, Citicorp, has deigned to relinquish their current
position as Co -Paying Agent for the bond issue; and
WHEREAS, First Interstate Trust Company of New York has
offered to assume the position of Co -Paying Agent vacated by
Citibank.
NOW, THEREFORE, the Redevelopment Agency of the City of Azusa
does hereby resolve as follows:
SECTION 1. The Board of Directors of the Redevelopment
Agency of the City of Azusa hereby approves the Agreement with
First Interstate Trust Company of New York to provide Co -Paying
Agent services for the life of the Residential Mortgage Revenue
Bonds, 1979 Series A; and authorizes the Agency Chairman or other
authorized officer to execute said Agreement attached herewith as
"Exhibit All.
SECTION 2. The Agency Secretary shall certify the adoption
of this resolution.
PASSED AND APPROVED this 20th day of May , 1991.
i
I HEREBY CERTIFY that the foregoing Resolution was duly
passed, approved, and adopted by the Board of Directors of the
City of Azusa Redevelopment Agency, at a regular meeting thereof,
held on the 2nrh day of May 1991 by the following vote of
the Directors:
AYES: DIRECTORS:DANGLEIS, STENLRICH, NARANJO, ALEXANDER, MOSES
NOES: . DIRECTORS:NONE
ABSENT: DIRECTORS:NONE
Secretary/ D put S retary