FINANCIAL_SERVICESAPPROVED

Independent School District No. 284 Escrow Agreement April 2026

Wayzata Schools appoints Zions as escrow agent

Wayzata Public School DistrictZIONS BANCORPORATION NATIONAL ASSOCIATIONApril 19, 2026

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Description

Independent School District No. 284 entered into an Escrow Agreement with Zions Bancorporation, National Association to serve as Escrow Agent for its 2026A refunding bonds. The agent will hold $35,359,892.76 in bond proceeds in a segregated escrow account and remit funds to redeem portions of the District’s 2021A bonds on April 30, 2026. The agreement governs safekeeping, non‑reinvestment of funds absent bond counsel opinion, reporting, and succession of the escrow agent.

Contract Details

Vendor

ZIONS BANCORPORATION NATIONAL ASSOCIATION

Agency

Wayzata Public School District, MN

Contract Type

FINANCIAL_SERVICES

Document Date

April 19, 2026

Contract Term

Executed April 30, 2026; effective until close of the escrow account after April 30, 2026 redemption

Renewal Info

One-time escrow engagement tied to the refunding of the District’s 2021A bonds; agreement is irrevocable until all Refunded Bonds are paid from the escrow and the account is closed. No automatic renewal; successor agent may be appointed only upon merger, consolidation, resignation, or incapacity of the Agent.

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