PROVIDENCE, R.I. & MINNEAPOLIS--(BUSINESS WIRE)--Nov. 2, 2009--
U.S. Bank has been named trustee of the bonds for Rhode Island Clean
Water Finance Agency Water Pollution Control Bond Series 2009A,
representing $41,555,000 million in bond issuances.
“We selected U.S. Bank because their team is extremely competent,
diligent and detail oriented. More importantly, U.S. Bank makes us feel
like a valued client,” said Anthony Simeone, executive director for the
Rhode Island Clean Water Finance Agency.
The funding sources are a combination of Federal Act Capitalization
grants as well as grants that are in agreement with the American
Recovery and Reinvestment Act of 2009 under the Federal Stimulus Act.
U.S. Bank National Association has been the bond trustee for the
Agency’s Water Pollution Control and Drinking Water bond issues since
1992. Through the Water Pollution Control and Drinking Water programs,
U.S. Bank is the trustee for more than $648 million of bonds outstanding.
Rhode Island Clean Water Finance Agency, established in 1989 by the
Rhode Island General Assembly, was created as a body politic and
corporate; a public instrumentality for the State of Rhode Island to
administer certain federal and state programs relating to municipal or
community wastewater and drinking water financial assistance. The Agency
administers the Water Pollution Control revolving loan fund.
U.S. Bank has 46 corporate trust offices across the country and offers a
complete line of trust services. U.S. Bank serves as trustee and paying
agent for the issuance of taxable and non-taxable securities, including
the review of documents and indentures, registration and authentication
of bonds, receipts and disbursement of bond sale proceeds, successor
trusteeships, escrow account services and transfer and paying agency
services. Also, U.S. Bank provides mortgage-backed and asset-backed
securitizations, money market paying agency services, bond and tax
administration, escrow services and document custody services.
U.S. Bancorp (NYSE: USB), with $265 billion in assets, is the parent
company of U.S. Bank, the 6th largest commercial bank in the United
States. The company operates 2,851 banking offices and 5,175 ATMs in 24
states, and provides a comprehensive line of banking, brokerage,
insurance, investment, mortgage, trust and payment services products to
consumers, businesses and institutions. Visit U.S. Bancorp on the web at
Source: U.S. Bank
Amy Frantti, 612-303-0733