ANKENY CITY COUNCIL

Regular Agenda

April 15, 2019
5 : 30 PM
Gary Lorenz, Mayor
Mark Holm, Mayor Pro tem
Council Members: Bobbi Bentz, Jim McKenna, Kelly Whiting, Kerry Walter-Ashby
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ORIGINATING DEPARTMENT: COUNCIL GOAL:
City Manager High Performing City Organization: Financially Sound, Providing Service Value
ACTION REQUESTED:
Resolution
LEGAL:
Item Reviewed by Legal Counsel
SUBJECT:

Consider motion to adopt RESOLUTON appointing UMB Bank, N.A. of Kansas City, Missouri, to serve as substitute paying agent, registrar, and transfer agent.
EXECUTIVE SUMMARY:

Bankers Trust has notified the City that it will cease paying agent, registrar and transfer agent services on or about June 10, 2019, and has assigned its contracts for such services to UMB Bank, N.A. of Kansas City, Missouri. 

Staff has determined that it is in the best interest of the City to engage UMB Bank, N.A. to serve as paying agent, registrar and transfer agent for all outstanding financing issues as shown on Exhibit A.

 
FISCAL IMPACT: No
CITY MANAGER'S RECOMMENDATIONS:
Approve UMB Bank, N.A. of Kansas City, Missouri to serve as substitute paying agent, registrar and transfer agent.
PREVIOUS COUNCIL/COMMISSION/BOARD ACTION(S):
PUBLIC OUTREACH EFFORTS:
ACTION REQUESTED:
ADDITIONAL INFORMATION:
ATTACHMENTS:
Click to download
Resolution
Exhibit A