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HomeMy WebLinkAboutContract 47034 /2 // 1 1�" �`4 0"w [ D ? T CONTRACT N% DEPOSIT AGREEMENT +pi11 NUri _ 0 BOKF, NA (the `Bank"), as paying agent for the City of Fort Worth, Texas Water and Sewer System Subordinate Lien Revenue Bonds, Series 2005A (the "Obligations") issued by the City of Fort Worth, Texas (the "Issuer")hereby acknowledges, agrees and certifies for the benefit of the Issuer and the owners of the Obligations as follows: 1. The Bank understands that certain maturities of the Obligations, as described in the notice of redemption attached hereto as Exhibit A (referred to herein as the "Called Obligations"), have been called for cancellation and redemption on December 1, 2015 (the"Redemption Date"). 2. The Bank acknowledges that the total amount due on the Redemption Date for such Called Obligations is $4,722,807.50, representing principal in the amount of$4,685,000.00 plus accrued interest in the amount of$37,807.50. Funds in payment of such principal and interest will be deposited with the Bank upon receipt of such funds from the Issuer on or before the Redemption Date. 3. The Bank acknowledges that the fees and expenses due to the Bank with respect to the Called Obligations to and through their redemption and final payment have been paid or will be duly provided for. The Bank will continue to act as paying agent for the Called Obligations under the existing paying agent agreement with the only remedy for nonpayment of its fees being an action for amounts owing under such agreement. 4. The Bank acknowledges receipt of notice of redemption of the Called Obligations to effect the redemption of the Called Obligations on the Redemption Date. 5. The Issuer certifies that it will cause to be deposited the amounts stated in paragraphs 2 and 3 with the Bank on or before the Redemption Date. 6. The Bank shall deposit any moneys received from the Issuer for the payment of the Called Obligations into one or more trust accounts to be held in a fiduciary capacity, with such moneys to be collateralized to the extent required by law. 7. This Deposit Agreement may be executed in any number of counterparts, each of which shall be deemed an original and all of which shall constitute one and the same Deposit Agreement. [Execution Page Follows] OFFICIAL RECORD C IT Y S E C R E�//�'yG�.Vrc IN EXECUTED as of September 24,2015. CITY OF FORT WORTH, TEXAS VORr City Manager (SEAL © City Secreta v APPROVED AS TO FORM: City Attorney BOKF,NA By: Name: Title: REXORD Signature Page Deposit Agreement—City of Fort Worth, Texas EXECUTED as of September 24,2015. CITY OF FORT WORTH,TEXAS City Manager (SEAL) City Secretary APPROVED AS TO FORM: City Attorney BOKF,NA By: �- �La Name: Anne-Marie i ansen Title: Officer Sw Signature Page DepositAgreenent—City of Fort Worth, Texas EXHIBIT A NOTICE OF REDEMPTION CITY OF FORT WORTH,TEXAS Notice is hereby given that the following obligations issued by the City of Fort Worth, Texas (the "City") are called for redemption prior to their scheduled maturities on the dates and at the redemption price of par plus accrued interest to the redemption date: CITY OF FORT WORTH, TEXAS WATER AND SEWER SYSTEM SUBORDINATE LIEN REVENUE BONDS, SERIES 2005A, all obligations maturing on March 1 in each of the years 2016 through 2023, aggregating $4,685,000 in principal amount; REDEMPTION DATE: DECEMBER 1,2015. Maturity Date Principal Amount Interest Rate CUSIP 03/01/2016 $590,000 3.05% 349515FX9 03/01/2017 $610,000 3.10% 349515FY7 03/01/2018 $630,000 3.15% 349515FZ4 03/01/2019 $650,000 3.20% 349515GA8 03/01/2020 $670,000 3.25% 349515GB6 03/01/2021 $695,000 3.35% 349515GC4 03/01/2022 $715,000 3.40% 349515GD2 03/01/2023 $125,000 3.45% 349515GEO Due provision for the payment of the above-described obligations has been made with BOKF,NA ("BOKF"),the paying agent for said obligations, and said obligations shall be presented for payment either in person or by mail,at the following addresses: Mail Overn!�ht Deliven BOKF,NA BOKF,NA P.O. Box 64106 Corporate Trust Services St,Paul,MN 55164-0106 111 Fillmore Avenue E St.Paul,MN 55017 Interest on the redeemed obligations shall cease to accrue thereon after the redemption date. CUSIP numbers have been assigned to this issue by the CUSIP Service Bureau and are included solely for the convenience of the Bondholder. Neither the City nor BOKF shall be responsible for the selection or correctness of the CUSIP numbers on the obligations or as indicated in any redemption notice. IMPORTANT NOTICE: Under the provisions of the Jobs and Growth Tax Relief Reconciliation Act of 2003 (the "Act'), paying agents making payments of interest or principal on municipal securities may be obligated to withhold a 28% tax from remittance to individuals who have failed to furnish the paying agent with a valid taxpayer identification number. Owners of the Bonds who wish to avoid the imposition of the tax should submit certified taxpayer identification numbers when presenting the Bonds for payment. THIS NOTICE is given under authority of an ordinance adopted by the City Council of the City on June 16,2015.