Laserfiche WebLink
in said document it indicated that the COPs were callable on any date after October 1, <br /> 2010. The Trust Agreement also indicated this. However, the Lease Agreement <br /> indicated that the prepayment of the COPs could only occur on an interest payment <br /> date (October 1). In order to amend the Lease Agreement to correct the defective <br /> provision, the City, Pleasanton Joint Powers Financing Authority, along with Ambac, the <br /> insurer of the COPs, must approve by resolution the First Amendment to the Lease <br /> Agreement. Ambac has approved the First Amendment to the Lease Agreement. Upon <br /> approval of this document and depositing the necessary funds to pay off the COPs <br /> ($20, 843,254), the City will instruct the trustee for the COPs, Bank of New York Mellon <br /> Trust Company, to call the COPs on or about June 15, 2013. <br /> Submitted by: Approv by: <br /> Emily E. Wagner Nelson Fialho <br /> Director of Finance City Manager <br /> Attachments: <br /> 1. Resolution of the City <br /> 2. Resolution of the Pleasanton Joint Powers Financing Authority <br /> 3. First Amendment to the Lease Agreement <br /> Page 3 of 3 <br />