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10A Action Items 2017 1218
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10A Action Items 2017 1218
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Last modified
12/13/2017 11:33:34 AM
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12/13/2017 11:33:30 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agenda
Document Date (6)
12/18/2017
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Document Relationships
OB Reso 2017-06 Refunding Bonds
(Reference)
Path:
\City Clerk\Successor Agency Oversight Board
SA Reso 2017-008
(Reference)
Path:
\City Clerk\City Council\Resolutions\2017
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<br />-40- <br />institution as a separate co-trustee. The following provisions of this Section 6.09 are adopted to <br />these ends. <br /> <br />In the event that the Trustee shall appoint an additional individual or institution as a <br />separate or co-trustee, each and every remedy, power, right, claim, demand, cause of action, <br />immunity, estate, title, interest and lien expressed or intended by this Indenture to be exercised <br />by or vested in or conveyed to the Trustee with respect thereto shall be exercisable by and vest <br />in such separate or co-trustee but only to the extent necessary to enable such separate or co- <br />trustee to exercise such powers, rights and remedies, and every covenant and obligation <br />necessary to the exercise thereof by such separate or co-trustee shall run to and be enforceable <br />by either of them; provided, however, in no event shall the Trustee be responsible or liable for the <br />acts or omissions of any co-trustee. <br /> <br />Should any instrument in writing from the Successor Agency be required by the separate <br />trustee or co-trustee so appointed by the Trustee for more fully and certainly vesting in and <br />confirming to it such properties, rights, powers, trusts, duties and obligations, any and all such <br />instruments in writing shall, on request, be executed, acknowledged and delivered by the <br />Successor Agency. In case any separate trustee or co-trustee, or a successor to either, shall <br />become incapable of acting, resign or be removed, all the estates, properties, rights, powers, <br />trusts, duties and obligations of such separate trustee or co-trustee, so far as permitted by law, <br />shall vest in and be exercised by the Trustee until the appointment of a new trustee or successor <br />to such separate trustee or co-trustee. <br /> <br />Section 6.10. Other Transactions with Successor Agency. The Trustee, either as principal <br />or agent, may engaged in or be interested in any financial or other transaction with the Successor <br />Agency. <br /> <br />466
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