HomeMy WebLinkAbout1988-142
SBEOOOl-315/2791S/es
01120/88
RESOLUTION NO. 88-142
A RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF
THE CITY OF SAN BERNARDINO, CALIFORNIA, APPROVING
AN INCREASE IN FEES FOR CERTAIN TRUST FIDUCIARY
SERVICES PROVIDED BY SECURITY PACIFIC NATIONAL
BANK IN CONNECTION WITH THE CITY'S SINGLE FAMILY
RESIDENTIAL MORTGAGE REVENUE BONDS, 1980 SERIES A
WHEREAS, the City of San Bernardino, California (the
"City"), has issued its Single Family Residential Mortgage Revenue
Bonds, 1980 Series A (the "Bonds"), for which Security Pacific
National Bank (the "Bank") has provided and is currently providing
certain trust fiduciary services; and
WHEREAS, the Bank has, by its letter of December 18, 1987
(a true and correct copy of which is attached hereto as Exhibit A),
requested that its fees for certain of said trust fiduciary services
be increased as set forth in Exhibit B attached hereto.
NOW, THEREFORE, THE MAYOR AND COMMON COUNCIL OF THE CITY
OF SAN BERNARDINO, CALIFORNIA, DO HEREBY FIND, RESOLVE, DETERMINE
AND ORDER AS FOLLOWS:
Section 1.
The proposed increase in fees for certain
trust fiduciary services provided by the Bank in connection with the
Bonds is hereby approved as set forth in Exhibit B attached hereto
and by this reference incorporated herein.
- 1 -
EXHIBIT A
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SECURITY PACIFIC NATIONAL BANK
10-7-7641
10-7-7908
CORPORATE TRUST DIVISION
333 SOUTH BEAUDRY AVENUE, LOS ANGELES, CALIFORNIA
MAILING ADDRESS: POST OFFICE BOX 30376, TERMINAL ANNEX. LOS ANGELES. CALIFORNIA 9
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December 18, 1987
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Redevelopment Agency of the
City of San Bernardino
300 North "0" Street
Suite 320
San Bernardino, CA 92418
Attn: Barbara Lindseth
RE: REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO
SINGLE FAMILY RESIDENTIAL MORTGAGE REVENUE BONDS
1979 SERIES A
CITY OF SAN BERNARDINO
SINGLE FAMILY RESIDENTIAL MORTGAGE REVENUE BONDS
1980 SERIES A
Dear Ms. Lindseth:
.
We at Secnrity Pacific National Bank appreciate the opportunity
to work with you. Our commitment remains, as always, to satisfy
your particular needs and to meet the challenges of the ever
changing economic, tax, and regulatory requirements in the
securities processing and trust fiduciary fields.
Strong performance requires, in addition to the dedication of
Cllrrent resources, the necessary development of new systems and
services. To continue to provide you with high quality and
personalized service, it is necessary to revise our fees as of
January I, 1988
Attached is a schedule of the fees which have been increased:
all other fees presently applicable to your account would remain
in effect. If you have any questions, please call me at (213)
345-3404, or William Sharp (213) 229-2929.
Sincerely,
<#f
William C. Arnebeck
Vice President
WCA/mge
Enclosure
A-I
EXHIBIT B
IE1'..!'.CTIVE JANUARY 1. 1988
SCHEDULE OF FEE INCREASES
Investment Fee, per trade or substitution of collateral...
50.00
Wire Transfer Fee, Per Wire Sent
Domestic Wire
Foreign '~il~es
25.00
50.00
Redemption Fee
Adminfotrative Services per redemption of debt
Fee per debt certificate redeemed
750.00
2.90
Coupon payin~ fee, if applicable
Per Coupon
.30
I.R.S. Reporting
Preparation and mailing of Form 1099's and
other tax information forms to debt hoiders.
each form, per holder
.20
All other fees presently in
the fee increases for the
unallocable indirect overhead
tntal feeD billed.
effect will continue in addition IO
s e r v .i c e sin d j cat t~ dab'o v e . A 1 so.
expenses shall be billed at 1?~ of
B-1