Ordinance 536-78 - Laserfiche WebLink

• w 0 I * • -of cash delivered to such officials and the dates of the use ' • thereof for the payment of the principal of and interest on the Refunded Obligations as the same shall become due and payable, and any other transactions of the Refunding Trustee pertaining to its duties and obligations as set forth herein. Such reports shall be separately prepared for each group of Acquired Obligations as they are allocated to the four accounts of the City in accordance with the schedule attached hereto. All Acquired Obligations, moneys and investment income deposited with or received by the Refunding Trustee pursuant to this agreement shall be subject to the trust created by this agreement and the Ordinance. The Refunding Trustee shall be liable for the preservation and safekeeping of all such Acquired Obligations, moneys, and investment income, and shall indemnify the City completely for any loss or disappearance thereof , regardless of its own negligence; provided, however, it shall not be responsible for any depreciation in value of any of the Acquired Obligations. Section 5 . Duties and Obligations of the Refunding Trustee. The duties and obligations of the Refunding Trustee shall be as prescribed by the provisions of this agreement and the Ordinance and the Refunding Trustee shall not be liable except for the performance of its duties and obligations as so specifically set forth and to act in good faith in the performance thereof, and no implied duties or obligations shall be incurred by the Refunding Trustee other than those specified herein. The Refunding Trustee may consult with counsel of its choice, and the opinion of such counsel shall be full and complete autho- rization and protection in respect of any action taken or not taken or suffered by it hereunder in good faith and in accordance with the opinion of such counsel. Section 6 . Compensation of Refunding Trustee. The fee of $60, 000. 00 to be received by the Refunding Trustee at the time -4-