Ordinance 2098-95 - Laserfiche WebLink

• EXHIBIT A ESCROW AGREEMENT THIS ESCROW AGREEMENT, made and entered into as of the 1st day of October, 1995 (the "Agreement"), by and between the City of Everett, Washington (the "City"), and First Interstate Bank of Washington, Seattle, Washington (the "Refunding Trustee"); WITNES SETH : WHEREAS, the City, pursuant to Ordinance No. 1739-90 of the City, issued and sold its $5,384,000 Limited Tax Levy General Obligation Bonds, 1990A(the "1990A Bonds"), and WHEREAS, the City now has outstanding its lease obligations (the "Lease Obligations") authorized by ordinance, prepayable on certain dates, and marketed under issues of Certificates of Participation, as follows: Date of Optional Prepayment Authorizing Approving Lease Obligations Dates COP Series Ordinance Resolution April 23, 1991 April 1, 2001 1991A 1774-91 3541 October 1, 1991 October 1, 2001 1991C 1818-91 3538 May 31, 1992 March 1, 2002 1992A 1858-92 3605 WHEREAS, the City by Ordinance No. , passed on September 27, 1995 (the "Bond Ordinance"), has determined to refund its outstanding 1990A Bonds maturing after December 1, 2000, and the Lease Obligation installments payable after the above Optional Prepayment Dates (the "Refunded Obligations"), by the issuance of its Limited Tax General Obligation Refunding Bonds, 1995, in the aggregate principal amount of$17,865,000 (the "Bonds"); and WHEREAS, the City pursuant to the Bond Ordinance has duly authorized the execution and delivery of this Agreement and the irrevocable pledge of the moneys and obligations to be deposited with the Refunding Trustee hereunder to the payment of the Refunded Obligations; NOW, THEREFORE, in consideration of the mutual covenants hereinafter contained, and for the benefit of the owners and holders of the Refunded Obligations, the parties hereto covenant and agree as follows: