City of Goodyear - File #: 13-5148

• File #: 13-5148
• Version: 1
• Type: Miscellaneous File
• Status: Passed
• File created: 10/30/2013
• In control: City Council Regular Meeting
• On agenda: 11/18/2013
• Final action: 11/18/2013
• Title: AUTHORIZE THE FINANCE DIRECTOR TO REQUEST THAT WELLS FARGO BANK, N.A. RESIGN AS THE TRUSTEE AND PAYING AGENT FOR THE CITY AND COMMUNITY FACILITIES DISTRICTS RECOMMENDATION: Authorize the Finance Director to request that Wells Fargo Bank, N.A. resign as the trustee and paying agent for the City and Community Facilities Districts (CFDs). PURPOSE: The City and CFDs desire to do business with trustees and paying agents that provide services through local representatives and Wells Fargo Bank, N.A., the current majority trustee and paying agent for the City's and CFDs' bond issuances, no longer operates a corporate trust office within Arizona. (Larry Lange, Finance Director)

Date	Ver.	Action By	Action	Result
11/18/2013	1	City Council Regular Meeting	APPROVED	Pass

TITLE

AUTHORIZE THE FINANCE DIRECTOR TO REQUEST THAT WELLS FARGO BANK,  N.A. RESIGN AS THE TRUSTEE AND PAYING AGENT FOR THE CITY AND COMMUNITY FACILITIES DISTRICTS

RECOMMENDATION:

Authorize the Finance Director to request that Wells Fargo Bank, N.A. resign as the trustee and paying agent for the City and Community Facilities Districts (CFDs).

PURPOSE:

The City and CFDs desire to do business with trustees and paying agents that provide services through local representatives and Wells Fargo Bank, N.A., the current majority trustee and paying agent for the City's and CFDs' bond issuances, no longer operates a corporate trust office within Arizona. (Larry Lange, Finance Director)