HomeMy WebLinkAboutresolution.council.029-93
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RESOLUTION NO. 27
(Series of 1993)
A RESOLUTION OF THE CITY OF ASPEN, COLORADO,
REPLACING THE PAYING AGENT FOR THE CITY'S TO BE
ISSUED GENERAL OBLIGATION HOUSING REFUNDING
BONDS, SERIES 1993A AND THE CITY'S TO BE ISSUED
GENERAL OBLIGATION HOUSING REFUNDING BONDS,
SERIES 1993B; REPLACING THE ESCROW AGENT FOR THE
CITY'S GENERAL OBLIGATION HOUSING BONDS, SERIES
1989A AND THE CITY'S GENERAL OBLIGATION HOUSING
BONDS, SERIES 1990A; AND PROVIDING OTHER DETAILS
IN CONNECTION WITH SAID REPLACEMENTS.
WHEREAS, the City of Aspen, in the County of Pitkin and State of Colorado (the
"City"), is a municipal corporation duly organized and existing as a home rule city pursuant to
Article XX, Section 6 of the Constitution of the State of Colorado and the home rule charter of
the City; and
WHEREAS, the City has, pursuant to its Ordinance No. 15 (Series of 1993), authorized
the issuance of its General Obligation Housing Refunding Bonds, Series 1993A (the "Series
1993A Bonds"), in the principal amount of $4,160,000 and has, pursuant to its Ordinance
No. 16 (Series of 1993), authorized the issuance of its General Obligation Housing Refunding
Bonds, Series 1993B (the "Series 1993B Bonds"), in the principal amount of $6,125,000; and
WHEREAS, the City has previously appointed Colorado National Bank as registrar and
paying agent for the Series 1993A Bonds and the Series 1993B Bonds and as escrow agent for
the City's General Obligation Housing Bonds, Series 1989A and the City's General Obligation
Housing Bonds, Series 1990A being refunded by the Series 1993A Bonds and the Series 1993B
Bonds, respectively (the "Refunded Bonds"); and
WHEREAS, the City has determined that it is in the best interest of the City to replace
.colorado National Bank in its capacity as registrar and paying agent for the Series 1993A Bonds
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and the Series 1993b Bonds and in its capacity as escrow agent for the Refunded Bonds with
Norwest Bank Denver, National Association.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ASPEN,
COLORADO THAT:
Section 1.
Replacement of Registrar and Paying Agent. Colorado National Bank is
hereby replaced with Norwest Bank Denver, National Association as registrar and paying agent
for the Series 1993A Bonds and the Series 1993B Bonds. The City shall enter into Registrar
and Paying Agent Agreements with respect to the Series 1993A Bonds and the Series 1993B
Bonds with Norwest Bank Denver, National Association, as registrar and paying agent, in the
respective forms approved in Ordinances No. 15 and No. 16 (Series of 1993).
Section 2.
Replacement of Escrow Agent. Colorado National Bank is hereby
_ replaced with Norwest Bank Denver, National Association as escrow agent for the Refunded
Bonds. The City shall enter into Escrow Agreements with respect to the Series 1993A Bonds
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and the Series 1993B Bonds with Norwest Bank Denver, National Association, as escrow agent,
in the respective forms approved in Ordinances No. 15 and No. 16 (Series of 1993).
Section 3.
Miscellaneous Documents. The Mayor or the Mayor Pro- Tem and the
City Clerk or Deputy or Assistant City Clerk, are hereby authorized and directed to execute and
deliver any and all documents necessary or desirable in connection with the replacements of
Colorado National Bank with Norwest Bank Denver, National Association.
Section 4.
Severability. If any provision of this Resolution shall be held or deemed
to be or shall, in fact, be illegal, inoperative or unenforceable, the same shall not affect any
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other provision or provisions hereof or render the same invalid, inoperative or unenforceable to
any extent whatever.
Section 5.
Governing Law. This Resolution will be governed by and construed in
accordance with the laws of the State of Colorado.
Section 6.
Repeals. All ordinances, resolutions, or parts thereof, in conflict with this
Resolution, are hereby repealed.
Section 7.
Records. A true copy of this Resolution, as adopted by the Council of the
City, shall be numbered and recorded, and its adoption shall be authenticated by the signatures
of the Mayor and City Clerk.
INTRODUCED, READ AND FINALLY adopted, passed and approved as provided by
law this 26th day of April 1993.
[SEAL]
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By
Mayor
Attest:
By~lk
City Clerk
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