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AG 2005 12 19
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AG 2005 12 19
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Last modified
3/3/2006 8:34:20 AM
Creation date
11/27/2017 11:36:48 AM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
12/19/2005
Board
Board of Commissioners
Meeting Type
Regular
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<br />Depositor Received by Fiscal Agent prior to 1:00 o'clock, p.m., on such Business Day <br />shall be consolidated, shall be held on deposit in the Custodial Account until transferred, <br />and shall be transferred as instructed via a wire/ACH transaction by 4:00 o'clock, p.m., <br />on that Business Day. Funds (and interest thereon) Received by Fiscal Agent after 1:00 <br />o'clock, p,m., on such Business Day shall be held on deposit in the Custodial Account <br />until transferred, and shall be transferred' via a wire/ACH transaction promptly after <br />Receipt by Fiscal Agent. In the event that Public Deposit Funds received by Fiscal Agent <br />are not transferred to Public Depositor on the same Business'Day they are received, such <br />Public Deposit Funds shall be promptly transferred via a wire/ACH transaction by 4:00 <br />o'clock, p.m., on the next Business Day. Such Public Deposit Funds shall accrue interest <br />at the rate agreed upon by Finistar, Fiscal Agentand Public Depositor from time to time. <br /> <br />Section 4. Continuation of Deposits. Notwithstanding the provisions of Section 3 and <br />Section 4 hereof and in conjunction with,or apart from, deposits of funds into the <br />Custodial Account, withdrawals of Public Deposit Funds from the Custodial Account, <br />and/or transfers of funds from Master NOW Accounts to the Custodial Account, Public <br />Depositor may instruct Finistar to cause some or all of deposit funds (including some or <br />all of the interest earned thereon) of Public Depositor held in a Master NOW Account (or . <br />in some or all applicable Master NOW Accounts), and being subject to withdrawal under <br />the terms of the deposit of such deposit funds, to be re-deposited in such Master NOW <br />Account or deposited in one or more Master NOW Accounts at other Participating Banks <br />on such terms as are then existing (a "Continuation Notice" attached hereto as Exhibit <br />E). Finistar shall provide to Fiscal Agent a copy of such Continuation Notice. <br /> <br />Section 5, Recordkeeping: Customer Information: Reconciling Funds. The <br />recordkeeping obligations ofFinistar and Fis.cal Agent are as follow: <br />(a) Finistar, Finistar shall act as a third party record keeper with respect to <br />deposit funds, and interest earned thereon, of Public Depositor. In this <br />regard, it shall maintain (and provide to Public Depositor and/or Fiscal <br />Agent upon request): . <br />(i) Records of the name, address, taxpayer identification <br />number of Public Depositor, and the name and contact <br />information of the Public Depositor; <br />(ii) . Records of the Public Deposit Notice regarding each <br />transfer of Public Deposit Funds to Fiscal Agent by Public <br />Depositor; <br />(iii) Records of the Public Deposit Instructions given to Fiscal <br />Agent with respect to each transfer of Public Deposit Funds <br />of Public Depositor. by Fiscal Agent to eligible <br />. Participating Banks (including any interest earned thereon <br />as a result of such Public Deposit Funds being placed in the <br />Custodial Account); <br />(iv) Records of each Receipt Notice given by Fiscal Agent to <br />Finistar; <br /> <br />Q-3 <br />
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