1982-43 Authorizing the Staff to Contact the Various Banks Bond Paying Agents for Destruction of Paid Bonds and Coupons.STAFF TO CONTACT THE VARIOUS (HANKS)
PAID BONDS AND COUPONS.
•
bonds, and
ATTEST:
17'
BY a, 7/d vs - / f / , 'a. ' 2 /%Ae_
Borough Clerd
KODIAK ISLAND BOROUGH
RESOLUTION NO. 82 -43 -R
A RESOLUTION OF THE KODIAK ISLAND BOROUGH ASSEMBLY AUTHORIZING THE
BOND PAYING AGENTS FOR DESTRUCTION OF
WHEREAS, the Kodiak Island Borough has, over the years, issued many
Ilbonds of which varying amounts are currently outstanding, and
WHEREAS, in the future it will be necessary to issue additional
WHEREAS, it is now common practice to have the paying agent to pay,
'.i destroy and render a certificate of destruction, thus in no way compromising
1 good accounting and internal controls, and
WHEREAS, this does eliminate hours of tabulation, storage, shipping
charges and such costs both to the bank and the Borough.
NOW, THEREFORE, BE IT RESOLVED by the Kodiak Island Borough Assembly,
that staff is authorized to have the servicing bank (paying agent) to pay,
'account for and report, and to destroy and render a certificate of destruction
for all bonds and coupons handled.
BE IT FURTHER RESOLVED that staff is authorized and directed to
destroy all paid bonds and coupons on hand that have accumulated over a
'period of years.
PASSED AND APPROVED this 1St day of July
KODIAK ISLAND BOROUGH
, 1982.