HomeMy WebLinkAbout09-95 r
Resolution No. 09-95
RESOLUTION
ACCEPTING THE AFFIDAVIT AND INDEMNITY FROM U.S. BANK
NATIONAL ASSOCIATION IN CONNECTION WITH THE
CITY OF ELGIN$5,485,000 GENERAL OBLIGATION
CORPORATE PURPOSE BONDS,
SERIES 2004B, DATED OCTOBER 1, 2004
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS,
hereby accepts the Affidavit and Indemnity ofU.S.Bank National Association in connection with the
City of Elgin $5,485,000 General Obligation Corporate Purpose Bonds, Series 2004B, dated
Octoberl, 2004, a copy of such Affidavit and Indemnity being attached hereto and made a part
hereof by reference.
s/Ed Schock
Ed Schock, Mayor
Presented: April 8, 2009
Adopted: April 8, 2009
Omnibus Vote: Yeas: 6 Nays: 0
Attest:
s/Diane Robertson
Diane Robertson, City Clerk
®bank®
Five Star Service Guaranteed
Corpdrate Trust Services .
Rookery Building
209 South LaSalle Street Suite 300
Chicago, IL 60604
April 1,2009
City of Elgin
150 Dexter Court
Elgin,IL 60120
Attention: James R.Nowicki, Fiscal Services Manager
Re: Replacement of Lost Bonds
Dear Mr.Nowicki:
Previously we have contacted you regarding the replacement of lost bonds for the City of
Elgin.Based on your acceptance,we are now providing you with an Affidavit and Indemnity
executed by U.S.Bank.
In order for Chapman and Cutler to release the bonds to us they need your consent.
Kindly indicate receipt and acceptance of the Affidavit and Indemnity by signing the lower
portion of this letter and forwarding an original copy to Chapman and Cutler with a copy to me.
Should you have any questions please feel free to call or e-mail me. It has been a
pleasure working with you on this matter and I thank you for your cooperation.
4cey,t Drelicharzte Trust Services
U.S.Bank National Association
209 S.LaSalle Street, Suite 300
Chicago,Illinois 60604
312-325-8976 direct
312-325-8973 fax
margaret.drelicharz(a,usbank.com
Received and Accepted:
Issuer:
By G�
Title:
Date:
AFFIDAVIT AND INDEMNITY
STATE OF ILLINOIS )
SS
COUNTY OF COOK )
Re:
City of Elgin$5,485,000 General Obligation Refunding Bonds, Series 2004B,
dated, October 1, 2004
TO THE GOVERNING BODY OF THE BOND ISSUER("ISSUER")OF THE BONDS IN REFERENCE(THE
"BONDS"),GREETINGS:
The undersigned (the "Afant"), on behalf of U.S Bank National Association (the
"Bank"), as successor to LaSalle National Bank ("LaSalle"), being duly sworn, on oath says the
following:
(A) The Issuer has issued the Bonds, and in so doing named LaSalle as its
trustee or bond registrar and paying agent. A portion of the Bonds so delivered were lost
by LaSalle. The lost Bonds are described as follows:
City of Elgin General Obligati n Refunding Bonds, Series 2004B
CUSIP Number Interest Rate Maturity Currently Outstanding
Principal Amount
286299YV8 3.25% 12/15/09 $ 400,000.00
286299YW6 3.50% 12/15/10 $ 415,000.00
286299YX4 3.75% 12/15/11 $ 425,000.00
286299YY2 4.00% 12/15/12 $ 455,000.00
286299YZ9 4.00% 12/15/13 $ 475,000.00
286299YM8 5.00% 12/15/14 $ 500,000.00
286299YN6 5.00% 12/15/15 $ 525,000.00
286299YPI 5.00% 12/15/16 $ 550,000.00
286299Y 9 5.00% 12/15/17 $ 215,000.00
Total lost bonds 1 $ 3,960,000.00
(B) To the best information and belief of the Affiant, the Lost Bonds have
been lost or destroyed.
(C) The Bank is the duly authorized and proper holder of the Bonds as agent
for the registered owner, Cede& Co., nominee of The Depository Trust Company.
2162246•TVM•4/1/09
(D) The Bank requests the Issuer to provide replacement bonds ("Replacement
Bonds") for the Lost Bonds pursuant to the Illinois Bond Replacement Act (30 ILCS
315). The Issuer has agreed to provide such Replacement Bonds upon issuance of this
Affidavit and Indemnity.
ACCORDINGLY:
(1) In consideration of the issuance of the Replacement Bonds, the Bank
hereby agrees to indemnify, defend and hold harmless each of the Issuer, its officers and
employees, its legal representatives, and successors and assigns, against any loss, costs,
liability, claims, expenses or damages (including, but not limited to, attorneys fees) that
may be incurred by it due to the issuance or on account of the Replacement Bonds.
(2) In consideration of the issuance of the Replacement Bonds, the Bank
hereby further agrees to pay to or on behalf of the Issuer the cost (including, but not
limited to, attorneys fees) of the preparation of the Replacement Bonds.
(3) In the event that the Bank locates any Lost Bond, the Bank shall promptly
cancel and destroy such bond and issue its certificate of cancellation and destruction.
This Affidavit and Indemnity is for the benefit of the Issuer, its officers and employees,
its legal representatives, and successors and assigns, and is binding on the Bank and all
successors and assigns of the Bank.
Dated: / 4 9
U.S.BANK NATIONAL ASSOCIATION
By � b I--
Name brace A. G rka
Title: VICE PRESIDENT
Subscribed and sworn to before me
this lsf' day of AP-/L 20 P?
OFFICIAL SEAL
JULIA LINIAN
[stamp] NOTARY PUBLIC-STATE OF ILLINOIS
MY COMMISSION EXPIRES:01/17/11
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