Loading...
HomeMy WebLinkAbout2002 01 28 Consent F Resolution 2002-02 City to Bank with Bank of America COMMISSION AGENDA ITEM F CONSENT XX INFORMATIONAL PUBLIC HEARING REGULAR .T~mllary 2R, 2002 Meeting MGR r IDEPT -#-~- A lIthorization REQUEST: The Finance Department requesting the Commission approve Resolution 2002-02 which authorizes the City to establish and maintain accounts with Bank of America and designates the City Manager, Finance Director and the City Treasurer as authorized representatives to execute documentation required by the bank. PURPOSE: The purpose ofthis Agenda Item is to approve Resolution 2002-02 - a resolution that authorizes the City to bank with Bank of America. CONSIDERATIONS: The bank said they do not currently have a resolution on file that authorizes the City to bank with them. FUNDING: N/A ATTACHMENTS: Resolution 2002-02 RECOMMENDATION: The Finance Department recommends that the Commission approve Resolution 2002-02 which authorizes the City to bank with Bank of America and designates authorized representatives to execute documentation with the bank. COMMISSION ACTION: ..-. P.....e... ~ 0 \ '-' \-, 0....... d..OO d-. - 0 ~ 3ankofAmerica ~ Certified Copy of Unincorporated Association Resolutions - Opening and Maintaining Deposit Acco~nts and Services lANK OF AMEnICA, N.A,lTHE "BANK") Name of Unincorporated Associlttion City of Winter Springs Bank of America I, the underBigned, hereby ce"tify to , that I am the Secretary/Assistnnt Secretary and the designated kccp"r of the records and minutes of City of Winter Springs , an unincorpornted n"60cintion whose principaladdJ'ess is in the State of Florida (the "Association"); that I have full authority to mannge, represent; sign for nnd hind th" Association, that the following is a true copy of resolutions duly adopted by the governing body of said Association Ilt n meeting duly held on the day of , at which u quorum was present and acted throughout or adopted by the unanimous wl'itten consent of th" governing body; Ilnd that such /'esolutions are in full force and effect and have not b""n Ilm"nded or rescinded. ~. Resolved, that Bank of America (the "Bank") is hereby designated as a depository of the Associntion nnd thnt dcpnsit /lccounts and/or time deposits lCDs) he opened /lnd maintained in the name of this Association with the Bank in accordance with the terms of the Bank's Deposit Agreement and Disclosures and the applicable rules and regulations for such accounts; thnt anyone of the following Authorized Rcpresentativ"s of this ASBociation: (=l..., -.;>.-... r" <--- '--~~ ,--c.- rv-'\"",~ I ~~ N:,nlC \-... ~...J" ~-A"_ 1,.-1 0.--... S 0___ , ~ . rv=>- .-... C e.. D,~-c.. c.-L Nilmc Title ~,'> NanlC Title C : -l-v / (rc:,......o...-)"'--'~c:'~ \=r"F ~-~ N"nlC Title is hereby authorized, on behalf of this Association and in its nlUlle, to execute and to sign any application, deposit Ith'l'eement, signatlll'e card and any other docum"ntation required by the Bank to open said accounts; to sign checks, drafts, notes, bills of exchange, acceptanc"s, time deposits (CDs) 01' other o/'ders for payment of money; to endorse checks, drafts, notes, bills, time deposits (CDs) or other instruments owned or held by this Association for ieposit with Bank or for collection or discount by the Bank; to accept drafts, acceptances, and other instruments payable lit the Bank; to place orders Nith the Bank for the purchase and sale of foreign currencies on behalf of this Association; to execute and deli vel' an electronic fund t,'ansfers agreement llld to make transfers or withdrawals by electronic transfer on bebalfofthe Association; to obtain an access device lincluding but not limited to a card, :ode, or other means of access to the Association's accounts) that may be used for the purpose of initiating electronic fund transfers [Association agrees llld acknowledges that neither the Elect/'onic Funds Transfer Act (15 U.S.C. 1693 et seq.) nor Regulation E 112 C.F.R Part 205) are applicable to any ;uch access device!; to establish and maintain a night d"posit relationship; to execute and deliver a wire transfer agreement and to request, or to appoint .r d"leKate from time to time such persons who may request, wires of funds; to enter into any agreements with the Bank for the provision by Bank of 11l/'inus Treasury Management services to this Association as such Authorized Representative may determine, in his 01' her sole discretion, and to sign lilY and all documents and take all actions required hy Bank relative to such Treasury Management services or the performance of the Association's .bligations thereunder, and that any such Treasury Management agreement(s) shall remain in full force and effect until written notice to terminate :iven in accordance with the terms of any such agreement shall have been received by the Bank and that such termination shall not a.tTect any action .aken by the Bank prior to such termination; to rent or lellse a safe deposit box from Bank, to execute the rental agreement or lease, to enter the safe leposit box and to terminate the rental agr""ment or lellse; to take whatever other actions or enter into whatever other agreements relating to the lccollnts or investment of funds in such accounts with the Bank and to execute, amend, supplement and deliver to Bank such agreements on hehalf of he Association upon such terms and conditions as such Authorized Representative may deem appropriate and to appoint and delegate, from time to ime, "uch per6on(s) who may be authorized to enter into such a/{reements and take any other actions pursuant to such agreements in connection with .nid accounts that the Authorized Representative deems necessary; and to waive presentment, demand, protest, and notice of protest or dishonor of any h"ck, note, bill, draft, or other inhtrurnent made, drawn or endorsed by this Association; and :. Further Resolved, that the Bank be and is hereby authoriz"d to honor, receive, certify, payor exchange for money orders or other instrwnents ,II instruments signed in Itccordunce with the foregoing resolutions even though Buch payment may create an overdraft or even though such n"trllments may he drawn or endorsed to the order of any Autho,.ized Representative s.igning the same or tendered by such Authorized Representative r a third party for' exchange 01' cltshing, 01' in payment of the individual obligation of such Authorized Rep,'esentative, or fo,. depo,;it to such Authorized tepresentative's personal account and Bank shall not be required or be under any obligation to inquire as to the circumstances of the issuance or use oi ny instrument signed in accordance with the foregoing resolutions or the Ilpplication or disposition of such instrument or the proceeds thereof; and, urther, that the Bank is authorized to honor any instructions regarding withdrllwals, orders for payment or transfer of funds whether oral. by telephone r electronic means if such withdn\wnl, orders or t/'nnsfer are initiated by an Authorized Representative; and . Further Resolved, thltt the Bank be und is hereby requested, authorized and directed to honor and to treat as authoriwd, checks, drafts orother /.ders for the puyment of money drawn or purportedly drawn in this Association's nnrne, including those pnyable to the individual order of any person dIOse name appears thereon as signer thereof, when ben..;n~ 01' purporting to bear the facsimile signature of an Autho/'ized Representative authorized , the foregoing /'esolutions and Bank shall be entitled to hon"r, to tre/lt /lB authorized, and to charge this Association for Buch check", draft., or other ,'den. regardless of hy whom or by wh/lt means the actual or purported facsimile signature thereon may have been affixed thereto, if such signature e"emhle.. the facsimile specimen duly certified to or filed with the B/lnk hy the S"cretary or Assistllnt Secret/lry or other officer or an Authoriz"d :..p,'e"entntive of thi" A~Bocilltion or if suchf/lcsimile ..ign/lt~re re"embles any fac"imile sign/lture previously affixed to /Iny check, draft, or other order r/lwn' in the ABsociation'H name, which check, draft, or other order was accepted and paid without timely objection by the Al'sociation, th"rehy r/ltifying hi! liRe lIf such facsimile signature; /Ind the Association hereby indemnifies /lnd holds the Bank hnrmleos against any and 1111 loss, cost, dlunag" or xpense ..uffered 01' incurred by the Bank /\Tising out of or in /lny way rel/lted to the misuse or unlawful or unauthorized use by a per"on of Buch facsimile. iltn/lture; and OO,I1,90llM 6. I B!I!I Nfl. .... 4. Further Resolved, that endorsements for deposit may be evidenced by the name of the Association being written or stamped Oil the check or other instnuneI)t deposited, without designation of the party making the endorsement, arid Bank is a.uthorized to supply any endorsement on Rny instrutn';nt tendered for deposit or collection; and 5. Further Resolved, that the S"cretary or Assistant Secretary or other duly authorized officer of this Association shall certify to the Bank nmnes and signatures of persons authorized to act on behalfofthis Association under the foregoing resolutions nnd shall from time to time hereafter, as changes in the identity of said Authorized Rep,.esentntives are made, irnm"diately report, furnish nnd certify such chan!;es to Bank and shall suhmit to Bunk a new account signature card reflecting lluch change in order to mllke such chnngell effective and Bank 6hall be fully protected in relying on such certifications and shall be indemnified and saved IUlI.mless from any c1nims, demands, expenses, losses, or dalll/l!;es result; ng fmm, or !;rowing out of, honoring the signature of Rny Authorized Representative sO certified, or refusing to honor any signature Ilot so certified; and 6. Further Resolved, that the foregoing resolutions shall ren",in in full force nnd effect and the authority he,.ein !;ivell to all of said persolls shall remain irrevocahle as far as Bank is concerned until three (3) business daYll after Bank is notitied in writing of the revocation of such Ilutho,'ity and that receipt of such notice shall not affect Ilny action taken hy the Bank prior thereto: and "7. Further Resolved, that all transactions by any Authorized Rcpresentutive, officer or employee of this Association 0/\ its behalf and in its Ilame with Bank prior to the delivery to Bunk of a certified copy of the foregoing resolutions are, in all respects, hereby ratificd, confirmed, approved and adopted; and 8: Further Resolved, that the Secretary or Allsistant Secretary be and hereby is, authorized and directed to ce,.tify the~e resnl utions to Bunk and that the provisions hereof are in conformity with the Articles of Association, Cll1u.ter, Rules and Bylaws of this Association. In Witness Whereof and intending to bind the Allsocintion, I ha\'e hereunto subscribed my name as the of this Association this \ '-\ day of .::-T c--.". J =-..~; &. 0= :;>-... , I Secretary Sec."etaryl Assistant. Secretary Jank In'ormation )"t" !l1nking Ccnter Nllme \>>tlociul~'s N arne \.tUioc..:iatt:!'~ Pltollt: Nu,nber ."