HomeMy WebLinkAboutResolution 675 Refunding Revenue Bonds
RESOLUTION NO. 675
A RESOLUTION OF THE CITY OF WINTER SPRINGS, FLORIDA,
APPOINTING SUN BANK, NATIONAL ASSOCIATION AS REGISTRAR
AND PAYING AGENT IN PLACE OF BARNETT BANKS TRUST COMPANY,
N.A. FOR THE CITY'S WATER AND SEWER REFUNDING REVENUE
BONDS, SERIES 1991 AND TERMINATING THE CUSTODY AGREEMENT
RELATING TO THE FUNDS AND ACCOUNTS ASSOCIATED WITH SUCH
BONDS
WHEREAS, the City of Winter Springs, Florida (the "City")
adopted Resolution No. 667 on April 29, 1991 appointing Barnett
Banks Trust Company, N.A., ("Barnett") as Registrar and Paying
Agent for the City's $6,915,000 Water and Sewer Refunding Revenue
Bonds, Series 1991 (the "Bonds"); and
WHEREAS, the City now desires to appoint Sun Bank, National
Association to serve as the Registrar and Paying Agent for the
Bonds in place of Barnett; and
WHEREAS, the City desires to terminate the Custody Agreement
dated May 16, 1991 with Barnett by giving written notice thirty
(30) days prior to the termination of said Custody Agreement; and
WHEREAS, the City desires that Sun Bank, National Association
shall at the City's direction have responsibility for the funds and
accounts created pursuant to Resolution No. 665 of the City,
adopted on April 29, 1991;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF WINTER SPRINGS, FLORIDA, AS FOLLOWS:
1. Sun Bank, National Association is hereby appointed to
serve as the successor Registrar and Paying Agent for the Bonds and
the City Manager is authorized to provide notice to Barnett of its
termination in accordance with Section 6.10(a) of the Registrar and
Paying Agent Agreement between the City and Barnett relating to the
Bonds. The City Manager is also authorized to notify the Bondhold-
ers of the change.
2. The City Manager is hereby authorized to terminate the
custody Agreement dated May 16, 1991 with Barnett by giving written
notice of such termination thirty (30) days subsequent to such
notification.
3. The City's Finance Director and other staff are hereby
authorized upon termination of the Custody Agreement with Barnett
to coordinate with Sun Bank, National Association concerning the
investment and disbursement of moneys in the funds and accounts
created pursuant to the Resolution.
4. All prior resolutions of the City inconsistent with the
provisions of this Resolution are hereby modified, supplemented and
amended to conform with the provisions herein contained and except
as otherwise modified, supplemented and amended hereby shall remain
in full force and effect.
This Resolution shall take effect immediately upon its
adoption.
PASSED AND ADOPTED by the City Commission of the City of
Winter Springs, Florida, this 11th day of November, 1991.
CITY OF WINTER SPRINGS, FLORIDA
By: Mayor
( SEAL)
FLORIDA
Attest:
Mary T. Norton
City Clerk
25606RPA.RES
10/31/91