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1989-046
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1989-046
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Last modified
6/25/2021 1:40:10 PM
Creation date
2/4/2021 9:58:00 AM
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Resolutions
Resolution Number
1989-046
Approved Date
05/02/1989
Subject
Amend & restate Resolution 89-19 - providing for issuance of $7,500,000 water & sewer revenue
refunding bonds, Series 1989
Document Relationships
1989-019
(Agenda)
Path:
\Resolutions\1980'S\1989
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z . <br />.. e„ <br />b. is the lead bank of a parent bank holding <br />Companywith an uninsured, unsecured and <br />unguaranteed obligation meeting the rating <br />requirements in (a.) above; <br />(7) deposits of any bank or savings and loan association <br />which has combined capital, surplus and undivided <br />Profits of not less than $3 million, provided such <br />deposits are fully insured by the Federal Deposit <br />Insurance corporation or Federal savings and Loan <br />Insurance Corporation; <br />(8) investments in a money-market fund rated "Am" or <br />"Am -G" or better by Standard & Poor's Corporation; <br />(9) repurchase agreements with a term of one year or <br />less with any institution with debt rated "AA" or <br />commercial paper rated "A-1" (in each case by <br />Standard & Poor's Corporation); <br />(10) repurchase agreements collateralized by Direct <br />Obligations or Agency Obligations with any <br />registered broker/dealer subject to the Securities <br />Investorts# Protection Corporation jurisdiction or <br />any commercial bank, if such broker/dealer or bank <br />has an uninsured, unsecured and unguaranteed <br />obligation rated "Prime -1" or 41A3" or better by <br />Moody's Investors Service, and "A-1" or "A-" or <br />better by Standard & Poor's Corporation, provided: <br />(A) a master repurchase agreement or specific <br />written,repurchass agreement governs the <br />transaction; and <br />(B) the securities are held free and clear of any <br />lien by the Trustee or an independent third <br />party acting solely as agent for the Trustee, <br />and such third party is (a) a Federal Reserve <br />Bank, (b) a bank which is a member of the <br />Federal Deposit Insurance Corporation and <br />which has combined capital, surplus and <br />undivided profits of not less than $25 <br />Million, or (c) a bank approved in writing for <br />such purpose by Financial Guaranty Insurance <br />Company, and the Trustee shall have received <br />written confirmation from such third party <br />that it holds such securities, free and clear <br />of any lien, as agent for the Trustee; and <br />(C) a perfected first security interest under the <br />Uniform Commercial Code, or book entry <br />procedures prescribed at 31 C.F.R. 306.1 et <br />seq. or 31 C.F.R. 350.0 et seq. in such <br />securities is created for the benefit of the <br />Trustee; and <br />Exhibit A <br />Page 2 of 3 <br />
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