AUTHORIZE THE FINANCE DIRECTOR TO REQUEST THAT WELLS FARGO BANK, N.A. RESIGN AS THE TRUSTEE AND PAYING AGENT FOR THE CITY AND COMMUNITY FACILITIES DISTRICTS RECOMMENDATION: Authorize the Finance Director to request that Wells Fargo Bank, N.A. resign as the trustee and paying agent for the City and Community Facilities Districts (CFDs). PURPOSE: The City and CFDs desire to do business with trustees and paying agents that provide services through local representatives and Wells Fargo Bank, N.A., the current majority trustee and paying agent for the City’s and CFDs’ bond issuances, no longer operates a corporate trust office within Arizona. (Larry Lange, Finance Director)

Committee

City Council Regular Meeting

Introduced

October 30, 2013

On agenda

November 18, 2013

Passed

November 18, 2013