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HomeMy WebLinkAbout2520 Vendor Subject Department Status Code Amount Begin Date End Date Review Date Insurance Comments Contract Number 2520 SEATTLE FIRST NATIONAL BANK Destruction Agreement - Fiscal Agent Finance PRO File Class LEG 12-1 $ 10/01/1984 12/31/2005 02/15/2007 GL $ AL $ E&O $ Insurance Total $ Insurance Review Date Vault 01/01/2007 DESTRUCTION AGREEMENT THIS AGREEMENT is entered into by and between ~-~-~ ~ ~h~~ , hereinafter called "Issuer", and SEATTLE-FIRST NATIONAL BANK, hereinafter called "Agent", for the uses and purposes hereafter set forth. 1. The parties are subject to and entitled to the benefits of an agreement now in effect entitled the "Washington State Fiscal Agency Agreement", hereinafter called "WSFA. A". dated April 11, 1984 between the State of Washington, acting through its State Finance Committee, and Seattle-First National Bank, a national banking associa- tion and J. Henry Schroder Bank & Trust Company, a State of New York Corporation. 2. Agent is designated as the destruction agency for the Issuer until temina- tion of this Agreement as herein provided or by termination of the WSFAA. 3. The Agent shall, at the end of the month in which the bonds and/or coupons are paid, provide the Issuer with a statement containing the coupon number for paid coupons, bond number for paid bonds, bond or coupon due date, number of bonds or coupons paid, bond or average coupon value, and total dollars paid. 4. One {1} year after any general or revenue obligation bonds, bearer or registered, or interest coupons have been cancelled or paid by Agent, they may be destroyed by Agent in a manner and by means consistent with industry standards. 5. After the destruction provided for in Paragraph 4 above, a certificate of destruction, giving full descriptive reference to the instruments destroyed, shall be made by the employee or employees of Agent authorized to perform such destruction. One executed copy of the certificate shall be filed with the treasurer or fiscal officer of Issuer. 6. Whenever the Issuer's treasurer or fiscal officer has redeemed any of the bonds or coupons referred to in this Agreement through his or her local office, or whenever such redemption has been performed by the trustee of any revenue bond issue, and the cancelled instruments or certificates of transmittal thereafter have been forwarded to the Issuer's treasurer or fiscal officer for recording, such cancelled instruments may be forwarded to Agent for destruction pursuant to this Agreement. Such cancelled instruments forwarded to Agent by Issuer's treasurer or fiscal officer shall be accompanied by a written full descriptive reference to the instruments to be destroyed. 7. Agent shall hold Issuer haKmless from losses resulting from overpayment on coupons due to Agent's fault, provided that Issuer notifies Agent of the overdrawn coupon account within a reasonable time. 8. The Agent may rely upon any certificate or statement by the said Treasurer or records of the previous fiscal agent as to the total amount of any general obli- gation or revenue bond, bearer or registered, or interest coupon of any particular maturity which has been issued at any time or which may be outstanding at any time and may accept for payment or cremation any such bond or interest coupon which appears to have been duly and validly issued and executed and otherwise appears to be genuine on its face; provided, however, that the Agent shall not be relieved of responsibility in the event of any improper payment of any forged instrument. 9. Nothing herein shall prohibit Seattle-First National Bank, as Agent, from designating and authorizing its co-Fiscal Agent, J. Henry Schroder Bank & Trust Company, to perform the destruction of Issuer's bonds or coupons referred to in this Agreement. When so designated and authorized, J. Henry Schroder Bank & Trust Company shall perform such destruction pursuant to the terms of this Agreement. -1- CITY OF BREMERTON BREMERTON CITY HALL 239 4TH STREET BREMERTON WA 98310 1. Tax Identification Number off Municipality # 91 -6001231 2. Name of parson who should be called for information concerntn~ bond calls, bond issues outs2andin$, etc. 2. Leo 51ney -- 3. Telephone Number to use (206) 478-5210 Any additional Bond/Note issues you wish to add. There is no charge for this service. Any balances added for non refund bearer will be eligible for the rate based on earntnss on 53% of the balances. DH/dh/06Sls $-CA? 'L-g'F/tT$1'IVAI'/171VAL BAtVi DIVISI'ON DAVID L HENWOOD Vice President and Manager Bond Trustee Services Security Services Administration September 13, 1984 Dear Treasurer: Enclosed please find two copies of the new Destruction Agreement. This Agreement replaces the Cremation Agreement between you and the former Fiscal Agent. We ask that you please review this agreement and, if it meets with your approval, sign and return it in the envelope provided. For some of you who are new to the Fiscal Agency or who in the past had not participated under this agreement, this will give you the opportunity to have us per- form the function of holding the cancelled bonds and coupons for I year after payment, then destroying them and providing you with a certificate of destruction. This is the custom in the industry and is~ the approach used by the state for its cancelled bonds and coupons. It should save you time and expense. There is no additional charge for this service. One additional item is the attached page with your mailing label attached. Please review the address and make the changes necessary to provide more direct mail service. You will note on'the page a request for 3 other. pieces of information. If you will fill these in it will assist us so we can provide you with efficient service. Sincerely, Encl. DLH:gy 1001 FOURTH AVENUE / POST OFFICE BOX 3586 / SEATTLE, WASHINGTON 98124 / TELEPHONE (206) 583-5000