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��i <br />Elk River , <br />Municipal Utilities UTILITIES COMMISSION MEETING <br />TO: <br />FROM: <br />ERMU Commission <br />Melissa Karpinski — Finance Manager <br />MEETING DATE: <br />AGENDA ITEM NUMBER: <br />August 13, 2024 <br />2.5 <br />SUBJECT: <br />Bond Trust Services Corporation Agreement <br />ACTION REQUESTED: <br />• Adopt, by motion, Resolution 24-7 appointing Bond Trust Services Corporation as fiscal <br />agent in connection with certain outstanding obligations <br />• Approve, by motion, the agreement with Bond Trust Services Corporation as the <br />authorized Paying Agent for certain outstanding obligations <br />BACKGROUND/DISCUSSION: <br />Ehlers was recently appointed as ERMU's Financial Advisor. It is recommended that ERMU <br />utilize Bond Trust Services Corporation (BTSC) as the paying agent for utilities bonds. ERMU <br />currently uses US Bank, and the transition will reduce points of contact and reduce transaction <br />fees. The effective date is August 15, 2024, to allow sufficient time for US Bank and BTSC to <br />coordinate the transfer after the August 1, 2024, payments. <br />FINANCIAL IMPACT: <br />None/immaterial <br />ATTACHMENTS: <br />• Resolution Appointing Bond Trust Services Corporation as Fiscal Agent in connection <br />with certain outstanding obligations <br />• Bond Trust Services Corporation Paying Agency Agreement <br />Page 1 of 1 <br />43 <br />