Action 9.
Regular Board of Supervisors Meeting
Board of Supervisors
- Meeting Date:
- 04/22/2014
- Title:
- Payment to Bank of New York Mellon Trust Company
- Submitted By:
- Arlethe Rios, Board of Supervisors
- Department:
- Board of Supervisors
Presentation:
Recommendation:
Document Signatures:
# of ORIGINALS
Submitted for Signature:
Submitted for Signature:
1
NAME
of PRESENTER:
of PRESENTER:
TITLE
of PRESENTER:
of PRESENTER:
Mandated Function?:
Source of Mandate
or Basis for Support?:
or Basis for Support?:
Docket Number (If applicable):
Information
Agenda Item Text:
Adopt Resolution 14-08, ordering the redemption prior to maturity of certain certificates of participation heretofore issued on behalf of Cochise County; ordering payment of all outstanding certificates on August 1, 2014; and ordering payment of the not to exceed amount of $2,355,000 to the Bank of New York Mellon Trust Company, Successor Trustee, for payment of the construction for the Melody Lane Complex.
Background:
TBD
Department's Next Steps (if approved):
Upon adoption of the resolution, staff will coordinate with Bank of New York Mellon Trust Company to deliver payment and interests involved.
Impact of NOT Approving/Alternatives:
If the resolution is not approved, payment of certificates will not be done and the County will continue to pay interests.
To BOS Staff: Document Disposition/Follow-Up:
Record resolution with fully executed exhibits.
Fiscal Impact
Attachments
- Resolution
- Release of Purchase Agreement
- NTC - Cochise COPS 2002 Defeasance (2014) - Notice of Deposit & Instructions to Redeem