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HomeMy WebLinkAbout2009 01 12 Consent 215 Resolution 2009-06 City Manager and Finance Director Representatives CNLBankCOMMISSION AGENDA ITEM 215 January 12, 2009 Meeting CONSENT XX INFORMATIONAL PUBLIC HEARING REGULAR MGR /DEPT ~ ~ Authorization REQUEST: The Finance Department requests the Commission approve Resolution 2009-06 designating the City Manager and the Finance Director as authorized representatives to execute documentation required by CNLBank on behalf of the City of Winter Springs. PURPOSE: The purpose of this Agenda Item is to approve Resolution 2009-06 - a resolution that designates the City's representatives authorized to execute documentation with CNLBank. CONSIDERATIONS: On December 5, 2008, Resolution 2008-56 was adopted by the City Commission authorizing the City Manager, the Finance Director and other authorized City representatives to execute such applications and other documents as are required to invest and reinvest surplus funds in direct negotiable obligations of the US Treasury or CDARS. Resolution 2009-06 has been prepared to authorize the City Manager and the Finance Director as authorized representatives to execute documentation required by CNLBank on behalf of the City of Winter Springs. Due to the dual signatory requirement, Kipton Lockcuff, Public Works/Utility Director, is designated as the third representative only in the event of an emergency whereby the City Manager or the Finance Director is unavailable to duly execute needed documents. FUNDING: N/A ATTACHMENTS: Resolution 2009-06 RECOMMENDATION: The Finance Department recommends that the Commission approve Resolution 2009-06, which designates the authorized representatives to execute documentation with CNLBank. COMMISSION ACTION: RESOLUTION N0.2009-06 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF WINTER SPRINGS FLORIDA, DESIGNATING THE CITY MANAGER AND FINANCE DIRECTOR AS THE CITY'S REPRESENTATIVES AUTHORIZED TO EXECUTE DOCUMENTS REQUIRED BY CNLBANK ON BEHALF OF THE CITY; AUTHORIZING THE PUBLIC WORKS/UTILITY DIRECTOR A5 AN AUTHORIZED REPRESENTATIVE IN THE EVENT OF AN EMERGENCY WHEN THE CITY MANAGER OR FINANCE DIRECTOR IS UNAVAILABLE TO EXECUTE SAID DOCUMENTS; PROVIDING FOR SEVERABILITY, REPEAL OF PRIOR INCONSISTENT RESOLUTIONS, AND AN EFFECTIVE DATE. WHEREAS, on December 5, 2008, the City Commission adopted Resolution 2008-56, authorizing the City Manager, Finance Director and other authorized City representatives to execute applications and other documents as required to invest and reinvest surplus funds in direct negotiable obligations of the U.S. Treasury or in Certificate of Deposit Account Registry Services (CDARS); and WHEREAS, CNLBank acts as the City's public depository and requires the City's authorized representatives to execute certain documents for this account from time to time; and WHEREAS, the City Commission desires to expressly authorize the City Manager and Finance Director as the City's authorized representatives to execute said documents; WHEREAS, the City Commission desires to additionally authorize the City's Public Works/Utility Director as an authorized representative in case of emergency when the City Manager or Finance Director is not available; and WHEREAS, the City Commission of the City of Winter Springs deems that this Resolution is in the best interests of the public health, safety, and welfare of the citizens of Winter Springs. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF WINTER SPRINGS, SEMINOLE COUNTY, FLORIDA, AS FOLLOWS: Section 1. Incorporation of Recitals. The foregoing recitals are deemed true and correct and are hereby fully incorporated by this reference. Section 2. Designation of Authorized Representatives. The City Commission hereby designates Ronald W. McLemore, City Manager, and Michelle L. Greco, Finance Director, as the authorized representatives of the City of Winter Springs, Florida. In the event of an emergency where the City Manager or Finance Director are not available, Kipton Lockcuff, Public Works/Utility Director, shall be the duly authorized representative during said emergency. The designated representatives are hereby authorized, on behalf of the City of Winter Springs and in its name, to execute and to sign, together as City of Winter Springs Resolution 2009-06 Page 1 of 2 dual signatories, any application, deposit agreement, signature card and any other documentation required by CNLBank, to open said accounts, to withdraw funds from or transmit funds to any account ofCNLBank, to establish funds transfer instructions, and to take any other action pursuant to any deposit agreements approved by the City Manager and not inconsistent with the City's investment policy. All authorization permitted by this Resolution shall require the dual signature of the City Manager and Finance Director, and in the case of emergency and unavailability as stated above, the Public Works/Utility Director. Section 3. Duration. This resolution shall remain in full force and effect and the authority herein given to all of said persons shall remain irrevocable until CNLBank is notified in writing of the revocation of such authority by the City Commission. Section 4. Certification. The City Clerk is hereby authorized and directed to certify this Resolution to CNL Bank. Section 5. Repeal of Prior Inconsistent Resolutions. All prior resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of the conflict. Section 6. Severability. If any section, subsection, sentence, clause, phrase, word, or portion of this Resolution is for any reason held invalid or unconstitutional by any court of competent jurisdiction, such portion shall be deemed a separate, distinct and independent provision and such holding shall not affect the validity of the remaining portion hereto. Section 7. Effective Date. This Resolution shall become effective immediately upon adoption by the City Commission of the City of Winter Springs, Florida. RESOLVED by the City Commission of the City of Winter Springs, Florida, in a regular meeting assembled on the day of , 2009. JOHN F. BUSH, Mayor ATTEST: ANDREA LORENZO-LUACES, City Clerk Approved as to legal form and sufficiency for the City of Winter Springs only: ANTHONY A. GARGANESE, City Attorney City of Winter Springs Resolution 2009-06 Page 2 of 2 RESOLUTION NO. 2009-06 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF WINTER SPRINGS FLORIDA, DESIGNATING THE CITY MANAGER AND FINANCE DIRECTOR AS THE CITY'S REPRESENTATIVES AUTHORIZED TO EXECUTE DOCUMENTS REQUIRED BY CNLBANK ON BEHALF OF THE CITY; AUTHORIZING THE PUBLIC WORKS/UTILITY DIRECTOR AS AN AUTHORIZED REPRESENTATIVE IN THE EVENT OF AN EMERGENCY WHEN THE CITY MANAGER OR FINANCE DIRECTOR IS UNAVAILABLE TO EXECUTE SAID DOCUMENTS; PROVIDING FOR SEVERABILITY, REPEAL OF PRIOR INCONSISTENT RESOLUTIONS, AND AN EFFECTIVE DATE. WHEREAS, on December 5, 2008, the City Commission adopted Resolution 2008-56, authorizing the City Manager, Finance Director and other authorized City representatives to execute applications and other documents as required to invest and reinvest surplus funds in direct negotiable obligations of the U.S. Treasury or in Certificate of Deposit Account Registry Services (CDARS); and WHEREAS, CNLBank acts as the City's public depository and requires the City's authorized representatives to execute certain documents for this account from time to time; and WHEREAS, the City Commission desires to expressly authorize the City Manager and Finance Director as the City's authorized representatives to execute said documents; WHEREAS, the City Commission desires to additionally authorize the City's Public Works/Utility Director as an authorized representative in case of emergency when the City Manager or Finance Director is not available; and WHEREAS, the City Commission of the City of Winter Springs deems that this Resolution is in the best interests of the public health, safety, and welfare of the citizens of Winter Springs. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF WINTER SPRINGS, SEMINOLE COUNTY, FLORIDA, AS FOLLOWS: Section 1. Incorporation of Recitals. The foregoing recitals are deemed true and correct and are hereby fully incorporated by this reference. Section 2. Designation of Authorized Representatives. The City Commission hereby designates Kevin Smith, Acting City Manager, and Michelle L. Greco, Finance Director, as the authorized representatives ofthe City of Winter Springs, Florida. In the event of an emergency where the City Manager or Finance Director are not available, Kipton Lockcuff, Public Works/Utility Director, shall be the duly authorized representative during said emergency. The designated representatives are hereby authorized, on City of W inter Springs Resolution 2009-06 Page I of 2 behalf of the City of Winter Springs and in its name, to execute and to sign, together as dual signatories, any application, deposit agreement, signature card and any other documentation required by CNLBank, to open said accounts, to withdraw funds from or transmit funds to any account of CNLBank, to establish funds transfer instructions, and to take any other action pursuant to any deposit agreements approved by the City Manager and not inconsistent with the City's investment policy. All authorization permitted by this Resolution shall require the dual signature of the City Manager and Finance Director, and in the case of emergency and unavailability as stated above, the Public Works/Utility Director. Section 3. Duration. This resolution shall remain in full force and effect and the authority herein given to all of said persons shall remain irrevocable until CNLBank is notified in writing of the revocation of such authority by the City Commission. Section 4. Certification. The City Clerk is hereby authorized and directed to certify this Resolution to CNLBank. Section 5. Repeal of Prior Inconsistent Resolutions. All prior resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of the conflict. Section 6. Severability. If any section, subsection, sentence, clause, phrase, word, or portion of this Resolution is for any reason held invalid orunconstitutional by any court of competent jurisdiction, such portion shall be deemed a separate, distinct and independent provision and such holding shall not affect the validity of the remaining portion hereto. Section 7. Effective Date. This Resolution shall become effective immediately upon adoption by the City Commission of the City of Winter Springs, Florida. RESOLVED by the City Commission of the City of Winter Springs, Florida,, ir: a regular meeting assembled on the 12'" day of January, 2009. Cc~ ~ I J F. BUSH, Mayor ATTEST: 1 A A LORENZO-LUACES, City Clerk Approved as to legal form and sufficiency for the City gP'~'Vinter Springs only: ANTHONY A. GARGANESE, City Attorney City of Winter Springs Resolution 2009-06 Page 2 of 2