City Council

11.\nStaff recommends that the City Council and the Oceanside\nPublic Financing Authority approve the form of Agreement\nof Removal, Appointment and Acceptance in order to\nremove The Bank of New York Mellon Trust Company,\nN.A. (“BNY”) as trustee for various bonds (described\nbelow),\nunder\nand\npursuant\nto\ncertain\ngoverning\ndocuments, and appoint U.S. Bank Trust Company,\nNational Association (“U.S. Bank”) as successor trustee;\napprove the Custody Agreement with U.S. Bank for asset\ncustody services for the City’s investment portfolio; and\nauthorize the City Manager or Financial Services Director to\nexecute\nthe\nagreements\nwith\nsuch\nchanges\nas\nrecommended by the City Attorney and Special Counsel.\n25-1146\nCity Council: