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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 />. (i) It is a corporation duly organized, validly existing and in <br />good standing under the laws of the State of North <br />Carolina, has full power and authority to execute ~d <br />deliver this Agreement and perform its obligations herein, <br />and has received all corporate approvals necessary to <br />execute and deliver this Agreement and to perform such <br />obligations. <br />(ii) . It is the duly authorized agent of Public DepositOr for the <br />purposes generally described herein; <br />(iii) No security interest created or permitted by Finistar exists <br />with respect to Public Deposit Funds or any MasterNOW <br />Account; . <br />(iv) No statement or representation, whether written or oral, has <br />been or will be made to Public Depositor or any <br />Participating Bank to the effect that Fiscal Agent has <br />investigated the desirability or advisability of the business <br />transactions generally described in this Agreement or to the <br />effect that Fiscal Agent has approved, endorsed or passed <br />upon the merits of such business transactions; <br />(v) It shall not use Fiscal Agent's business name, or any <br />variation thereof, in any press releases, advertisements, or <br />marketing. or sales literature or documents except to <br />identify Fiscal Agent as the Fiscal Agent as contemplated <br />by this Agreement; and <br />(vi) Its performance of its obligations under this Agreement do <br />not violate its articles of incorporation or bylaws, any <br />. agreement to which it is a party, or any law or regulation <br />applicable to the business transactions contemplated by this <br />Agreement. <br />(b) Fiscal Agent. Fiscal Agent represents and warrants to Finistarand Public <br />Depositor that: <br />(i) It is a corporation duly organized, validly existing and in <br />good standing under the laws of the State of North <br />Carolina, has fully power and authority to execute and <br />deliver this Agreement and to perform its obligations <br />hereunder, and has' 'received all corporate approvals <br />necessary to execute and deliver. this Agreement and <br />perform such obligations; <br />(ii) It has all regulatory authority and approvals under <br />applicable banking laws, inclUding trust or limited trust <br />powers, necessary to execute and deliver this Agreement <br />and to perform its obligations under this Agreement <br />including the requirements for the collateralization of <br />public deposits by exercising the. pooling method as <br />provided in Title 20 North Carolina Administrative Code, <br />Chapter 7 ; and <br /> <br />G-~ <br />
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