To terminate The Bank of New York Mellon Trust Company, N.A. as current paying agent/registrar for certain outstanding debt obligations of the City and appointing UMB Bank, N.A. as a successor paying agent/registrar for certain outstanding debt obligations of the City; approving and authorizing the execution of the Paying Agent/Registrar Agreement with UMB Bank, N.A.; resolving other matters incident and related thereto; and providing a severability clause and an effective date. Adopted Resolution No. 2024-10-8(R)

Approval of this item will terminate BNY Mellon as the current paying agent/registrar and appoint UMB Bank, N.A. as the new paying agent/registrar. There will be a cancellation penalty with BNY Mellon in the amount of $4,500, but this will be offset by an estimated savings of approximately $9,450 per year for the first five (5) years.

Approval of this Resolution relates to the City's Strategic Plan Critical Success Factor of Excellent, Innovative, and Accountable City Government.