City Council

11. City Council: Staff recommends that the City Council and the Oceanside 25-1146 Public Financing Authority approve the form of Agreement of Removal, Appointment and Acceptance in order to remove The Bank of New York Mellon Trust Company, N.A. (“BNY”) as trustee for various bonds (described below), under and pursuant to certain governing documents, and appoint U.S. Bank Trust Company, National Association (“U.S. Bank”) as successor trustee; approve the Custody Agreement with U.S. Bank for asset custody services for the City’s investment portfolio; and authorize the City Manager or Financial Services Director to execute the agreements with such changes as recommended by the City Attorney and Special Counsel.