HomeMy WebLinkAboutTC Res 2000-09-20 (4)
RESOLUTION NO. 3445
A RESOLUTION OF THE TOWN COUNCIL OF
THE TOWN OF TIBURON APPROVING AGREEMENT
FOR BOND RESERVE TRUSTEE SERVICES
MAIN STREET ASSESSMENT DISTRICT
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The Town Council of the Town of Tiburon (the "Town"), County of Marin, California resolves:
WHEREAS, on December 8, 1999, by way of Town of Tiburon Resolution No. 3388, Town
Council authorized issuance of the Limited Obligation Bonds of the Main Street Assessment District; and
WHEREAS, Resolution No. 3388, Article IV, Section 4.04 requires the establishment ofa separate
Bond Reserve Fund, that is to be in the amount offive percent of the total amount to bond ($408,513), to
be administered in accordance with Part 16 of the Bond Law; and
WHEREAS, since adoption of Resolution No. 3388 the Town has maintained the required reserve
monies with the redemption monies of the Main Street Assessment District; and
WHEREAS, previous and current auditors of the Town's general purpose financial statements have
approved of Town utilization of third party fiscal, paying agent and trustee services for general
obligation, special tax, revenue, and special assessment bond issues of the Town; and
WHEREAS, the public interest will be served by employing a Trustee to manage the Bond Reserve
required by Resolution No. 3388.
I"" NOW THEREFORE, IT IS RESOLVED AS FOLLOWS: that the Finance Director is authorized to
enter into agreement for Bond Trustee services to administer the Bond Reserve in accordance with the
provisions of Resolution No, 3388 and applicable laws associated with the Limited Obligation Bonds of
the Main Street Assessment District,
PASSED AND ADOPTED at a regular meeting of the Town Council of the Town ofTiburon on,
Seotember 20. 2000 by the following vote::
AYES:
NOES:
ABSENT:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
COUNCIL MEMBERS:
Bach, Gram, Hennessy, Matthews, Thompson
None.
None.
B
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