RES 67055 - Laserfiche WebLink

38 be reasonably necessary~or proper to carry out the intention or to facilitate the performance of this Resolution, and for the better assuring and conflrtning unto the holders of the Bonds of the rights and benefits provided in this R, solution. ARTICLE VI THE FISCAL AGENT AND THE PAYING AGENTS SECTION 6.01. Appolntment o~ Fiscal Agent. The BANI[ OF AMIlRICA NATIONAL TRUST AND SAVINGS ASSOCIATION in San Francisco, California, a national banking association organized and existing under and by virtue of the laws of the United States of America, is hereby appointed Fiscal Agent for the C~ for the purpose of receiving all moneys which the City is required to deposit with the Fiscal Agent hereunder, and to allocate, use and apply the same as provided in this Reso- lution. The City agrees that it will maintain a Fiscal Agent having a principal office in San Francisco, California, so long as any Bonds are outstanding and unpaid. The City may remove the Fiscal Agent initially appointed, and any sueeessur thereto, and may appoint a successor or successors thereto; provided that any such successor shall be a bank or trust company doing business and having an office in San Francisco, California, having a combined capital and surplus of at least five million dollars ($5,000,000), and subject to supervision or examination by federal or state authority. If such bank or trust company publishes a report ~ condition at least annually, pursuant to law or to the requirements of any supervising or examining authority above referred to, then for the purpose 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 condi- tion so published. The Fiscal Agent may,. at any time resign by giving written notice to the City and by giving the Bondholders notice by publication of such resignation, which no- rice shall be published at least once in a financial newspaper or journal printed in the English language and customarily published and of general circulation in San Francisco, California. Upon receiving such notice of resign~ the City shall promptly appoint a successor Fiscal Agent by an instrument in writing. Any resig- nation or removal of the Fiscal Agent and appointment of a successor Fiscal Agent shall become effective upon acceptance of appointment by the successor Fiscal Agent. SECTION 6.02. Appointment oi' Paying Agents. The FIRST NATIONAL CITY BANK in New York, New York, and THE FIRST NATIONAL BANK OF CHICAGO in Chicago, Illinois, are hereby appointed as Paying Agents for the purpose of paying the principal of and interest on any of the Bonds presented for payment in New York, New York, or Chicago, Illinois. The Fiscal Agent shall enter into such arrangements with each Paying Agent as shall be necessary and desirable in order