HomeMy WebLinkAboutCC Resolution 7608 (Fire Truck Financing)RESOLUTION NO. 7608
A RESOLUTION AUTHORIZING THE SIGNING OF A
CONTRACT, LEASE OR AGREEMENT
THE CITY COUNCIL OF THE CITY OF SAN RAFAEL RESOLVES as follows:
or CITY MANAGER
The MAYOR/and CITY CLERK are authorized to execute, on behalf of
the City of San Rafael, a contract, lease or agreement with
FIRST AMENDMENT TO TRUST AGREEMENT WITH THE BANK OF CALIFORNIA,
ABAG, CITIES OF CERES, ROCKLIN, & SAN PABLO. (REGARDING FINANCING
OF FIRE TRUCK AND PUBLIC WORKS TRUCK - Changinq financinq to Seattle
First National Bank (Seafirst)).
a copy of which is hereby attached and by this reference made a part
hereof.
I, JEANNE Al. LEONCINI , Clerk of the City of San Rafael, hereby
certify that the foregoing resolution was duly and regularly intro-
duced and adopted at a regular
City held on Tuesdav
meeting of the City Council of said
the 8th day of September ,
1987 , by the following vote, to wit:
AYES: COUNCILMEMBERS: Breiner, Frugoli, Nave, Willms & Mayor Mulryan
NOES: COUNCILMEA4BERS: None
ABSENT: COUNCILMEMBERS: None
JEA1jE M. LEONCINI, City Clerk
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FIRST AMENDMENT TO TRUST AGREEMENT
This FIRST AMENDMENT TO TRUST AGREEMENT made and entered into
effective as of Sept. I , 1988, amends the Trust Agreement, made and entered into on
April 1, 1985, by and among The Bank of California, National Association, a national
banking association having a corporate trust office in the City of San Francisco,
California (the "Trustee"), the Cities of Ceres, Rocklin, San Pablo and San Rafael,
California (collectively referred to herein as the "Lessees"), and the Association of Bay
Area Governments, a California joint powers agency (the "Association") pursuant to
Section 701 of Exhibit C of the Trust Agreement (the Agreement).
In consideration of the mutual covenants herein contained and for other
valuable consideration, the parties hereto do hereby agree to amend the Trust Agreement
as follows:
1. Section 401 is hereby amended in full as follows:
401. Trustee; Duties, Removal and Resignation. By executing and
delivering the Trust Agreement, the Trustee accepts the duties and obligations of the
Trustee provided in the Trust Agreement, including but not limited to certain insurance -
related functions specified in Section 603 of the Trust Terms and Conditions, but only
upon the terms and conditions set forth in the Trust Agreement.
The Association, the Insurer or a majority of the Lessees as long as they are
not in default under their Lease Agreements may, or the holders of the majority in
aggregate principal amount of all Certificates Outstanding mai, by written request,
remove the Trustee initially a parte hereto, and any successor thereto, and in such event,
or in the event the Trustee resigns, the Association shall appoint a successor Trustee, but
any such successor shall be a bank or trust company or national banking association in
good standing within or without the State of California, having trust powers and a
combined capital (exclusive of borrowed capital) and surplus of at least Fifty Million
Dollars ($50,000,000) and subject to supervision or examination by federal or state
authority. If such National Banking Association, bank or trust company publishes a report
of condition at least annually , pursuant to law or to the requirements of any supervising or
examining authority above -referred to, then for the purposes of this Section the combined
capital and surplus of such bank or trust company shall be deemed to be its combined
capital and surplus as set forth in its most recent report of conditions so published.
The Trustee may at any time resign by giving written notice to the
Association, the Insurer and the Lessees and by giving to the Certificate Owners notice by
mailing a notice of such resignation to their addresses appearing in the Certificate
Register. Upon receiving any such notice of resignation; the Association shall promptly
appoint a successor Trustee by an instrument in writing; provided, however, that in the
event that the Association does not appoint a successor Trustee within thirty (30) days
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following receipt of such notice of resignation, the resigning Trustee may petition an
appropriate court having jurisdiction to appoint a successor Trustee. Any resignation or
removal of the Trustee shall not become effective until written acceptance of
appointment by the successor Trustee under the Trust Agreement.
Any Trustee which shall resign or be removed pursuant to this Section, shall be
entitled to compensation in accordance with Section 402 and to reimbursement for
reasonable and proper expenses and advances incurred and not previously reimbursed for
its activities in connection with the Trust Agreement and the Lease Agreements and for
any indemnification due pursuant to Section 609 hereof and not previously paid. Any
Trustee which resigns or is removed, upon payment of its unpaid compensation and
expenses hereunder, shall execute such further assurances and do such other and further
things as may be proper or convenient to more fully and certainly vest and confirm in said
successor Trustee all the right, title and interest of the retiring Trustee in and to the
Trust Estate, and such retiring Trustee shall promptly pay over, assign and deliver to the
successor Trustee any money or other property constituting part of the Trust Estate then
held by such Trustee and deliver any and all records, or copies thereof, in respect to the
Trust Estate whici h it may have.
effect.
2. All other terms and conditions of the Trust Agreement to remain in
IN WITNESS WHEREOF, the parties have executed this First Amendment to
Trust Agreement by their officers thereunto duly authorized as of the date and year
written below.
Dated: THE BANK OF CALIFORNIA, as Trustee
by
Trust Officer
Dated: ASSOCIATION OF BAI' AREA GOVERNMENTS
b�
Deput) Executive Director
Dated: CITY OF CERES
Attest: by
City Clerk
Mayor
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by
Deputxecut erector
Dated: CITY OF CERES
Attest: by
City Clerk
!P -A
Mayor
following receipt of such notice of resignation, the resigning Trustee may petition an
appropriate court having jurisdiction to appoint a successor Trustee. Any resignation or
removal of the Trustee shall not become effective until written acceptance of
appointment by the successor Trustee under the Trust Agreement.
Any Trustee which shall resign or be removed pursuant to this Section, shall be
entitled to compensation in accordance with Section 402 and to reimbursement for
reasonable and proper expenses and advances incurred and not previously reimbursed for
its activities in connection with the Trust Agreement and the Lease Agreements and for
any indemnification due pursuant to Section 609 hereof and not previously paid. Any
Trustee which resigns or is removed, upon payment of its unpaid compensation and
expenses hereunder, shall execute such further assurances and do such other and further
things as may be proper or convenient to more fully and certainly vest and confirm in said
successor Trustee all the right, title and interest of the retiring Trustee in and to the
Trust Estate, and such retiring Trustee shall promptly pay over, assign and deliver to the
successor Trustee any money or other property constituting part of the Trust Estate then
held by such Trustee and deliver any and all records, or copies thereof, in respect to the
Trust Estate which it may have.
I
effect.
2. All other terms and conditions of the Trust Agreement to remain in
IN WITNESS WHEREOF, the parties have executed this First Amendment to
Trust Agreement by their officers thereunto duly authorized as of the date and year
written below.
Dated: THE BANK OF CALIFORNIA, as Trustee
by
Trust Officer
Dated: ASSOCIATION OF B. -\Y AREA GOVERNMENTS
by
Deputy Executive Director
Dated: CITY OF CERES
Attest: by� I
Mayor r
Mityrk
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Dated: June 14, 1988 CITY OF ROCKLIN
Attest:
City Jerk
Dated:
Attest:
City Clerk
Dated:
Attest:
City Clerk
by,
Vi yo;
CITY OF SAN PABLO
by
Finance Director
CITY OF SAN RAFAEL
by
Acting City Manager
-3- Exhibit A
to Res o . No. 88-208
Dated: CITY OF ROCKLIN
Attest: by
Mayor
City Clerk
Dated: CITY OF SAN PABLO
Attest: by "-4, "
Finarr Director
T,Z ",,ry City Cle7k-
Dated:
Attest:
City Clerk
CITY OF SAN RAFAEL
by
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Acting City Manager
I w
0
Dated: CITY OF ROCKLIN
Attest: by
Mayor
City Clerk
Dated: CITY OF SAN PABLO
Attest: by
Finance Director
City Clerk
Dated: g'3//d g CITY OF SAN RAFAEL
Attest: by ,
-& City Ma ger
i yOre rk
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