RESOLUTION NO. RS2002-940
A resolution approving or appointing Regions Bank as successor Trustee, Registrar, Paying Agent and/or Escrow Agent for certain outstanding bonds of the Metropolitan Government.
Whereas, the Metropolitan Government has authorized and issued various bonds in accordance with various bond resolutions; and
Whereas, the Metropolitan Government has appointed various entities to act as Trustee, Registrar, Paying Agent and/or Escrow Agent under the bond resolutions for various bond issues; and
Whereas, AmSouth Bank has been acting as Trustee, Registrar, Paying Agent and/or Escrow Agent for certain bond issues that are still outstanding; and
Whereas, AmSouth Bank is unable to continue to serve as Trustee, Registrar, Paying Agent and/or Escrow Agent for the various outstanding bonds of the Metropolitan Government; and
Whereas, it is necessary to appoint a new Trustee, Registrar, Paying Agent and/or Escrow Agent to replace AmSouth Bank for various outstanding bonds of the Metropolitan Government; and
Whereas, Regions Bank is willing and able to serve as Trustee, Registrar, Paying Agent and/or Escrow Agent on the same basis as AmSouth Bank; and
Whereas, the Director of Finance is authorized to appoint a successor Trustee, Registrar, Paying Agent and/or Escrow Agent under certain of the bond resolutions; and
Whereas, the Metropolitan Council must approve the appointment of a successor Trustee, Registrar, Paying Agent and/or Escrow Agent by the Finance Director under certain of the bond resolutions; and
Whereas, the Metropolitan Council must appoint a successor Trustee, Registrar, Paying Agent and/or Escrow Agent under certain of the bond documents; and
Whereas, a contract has been entered into with Regions Bank to perform the duties of Trustee, Registrar, Paying Agent and/or Escrow Agent for the various outstanding bonds of the Metropolitan Government
Now, therefore be it resolved by the Council of The Metropolitan Government of Nashville and Davidson County:
Section 1. The appointment by the Director of Finance of Regions Bank as Trustee, Registrar, Paying Agent and/or Escrow Agent for the bond issues as specified in Exhibit A is hereby approved for those bond issues requiring such approval under the applicable bond resolutions.
Section 2. Regions Bank is hereby appointed as Trustee, Registrar, Paying Agent and/or Escrow Agent for the bond issues as specified in Exhibit A for those bond issues requiring appointment by the Metropolitan Council under the applicable bond resolutions.
Section 3. The resignation of AmSouth Bank as Trustee, Registrar, Paying Agent and/or Escrow Agent for the bond issues specified in Exhibit A is hereby acknowledge and accepted.
Section 4. All resolutions or parts thereof, in conflict with the provisions of this Resolution are, to the extent of such conflict, hereby repealed.
Sponsored By: David Briley
LEGISLATIVE HISTORY |
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Referred to: | Budget & Finance Committee |
Introduced: | February 5, 2002 |
Adopted: | February 5, 2002 |
Approved: | February 7, 2002 |
By: | ![]() |