2.5 EMRUSR 08-13-2024��i
Elk River ,
Municipal Utilities UTILITIES COMMISSION MEETING
TO:
FROM:
ERMU Commission
Melissa Karpinski — Finance Manager
MEETING DATE:
AGENDA ITEM NUMBER:
August 13, 2024
2.5
SUBJECT:
Bond Trust Services Corporation Agreement
ACTION REQUESTED:
• Adopt, by motion, Resolution 24-7 appointing Bond Trust Services Corporation as fiscal
agent in connection with certain outstanding obligations
• Approve, by motion, the agreement with Bond Trust Services Corporation as the
authorized Paying Agent for certain outstanding obligations
BACKGROUND/DISCUSSION:
Ehlers was recently appointed as ERMU's Financial Advisor. It is recommended that ERMU
utilize Bond Trust Services Corporation (BTSC) as the paying agent for utilities bonds. ERMU
currently uses US Bank, and the transition will reduce points of contact and reduce transaction
fees. The effective date is August 15, 2024, to allow sufficient time for US Bank and BTSC to
coordinate the transfer after the August 1, 2024, payments.
FINANCIAL IMPACT:
None/immaterial
ATTACHMENTS:
• Resolution Appointing Bond Trust Services Corporation as Fiscal Agent in connection
with certain outstanding obligations
• Bond Trust Services Corporation Paying Agency Agreement
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