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Home My WebLink About2002 05 13 Regular M Resolution 2002-19 and Resolution 2002-20 Investment Accounts . t. COMMISSION AGENDA ITEM M ICONSENT INFORMATIONAL PUBLIC HEARING REGULAR x M::iy 11, JOn? Meeting A lIthori7:Jtion REQUEST: The Finance Department is requesting the City Commission approve Resolution 2002-19 and 2002-20 establishing investment accounts with Morgan Stanley Dean Witter and Salomon Smith Barney, respectively and authorize the City Manager and/or the Finance Director to enact investment transactions on behalf of the City. PURPOSE: To approve Resolutions 2002-19 and 2002-20 establishing investment accounts with Morgan Stanley Dean Witter and Salomon Smith Barney, respectively and authorize the City Manager and/or the Finance Director to enact investment transactions on behalf of the City. CONSIDERATIONS: . Section XI of the City of Winter Springs Investment Policy entitled "Competitive Selection of Investment Instruments" requires that the City receive a minimum of three bids/offers on securities from Qualified Institutions and/or Primary Dealers prior to purchase. . It is necessary for the City to establish accounts with three Qualified Institutions and/or Primary Dealers in order to begin the investment process. . Three Primary Dealers have been selected from the list of Primary Dealers for the Federal Reserve Bank of New York as follows: Banc of America Securities LLC, Morgan Stanley Dean Witter, and Salomon Smith Barney Inc.. . While the Investment Policy and Internal Control Manual clearly establishes that the City Manager and/or hislher designee may select the organizations that the City will enact investment transactions with, the individual organizations themselves are requiring specific Commission direction as follows: i' · According to the representative at Banc of America Securities, the City has an account set up already at the request of a former fmancial advisor. The representative only needs Commission minutes that reflect the individuals that are authorized to enact investment transactions on behalf of the City. . Morgan Stanley Dean Witter require an account agreement and the passage of an enabling resolution (2002-19). . Salomen Smith Barney Inc require an account agreement and the passage of a resolution (2002-20). RECOMMENDATION: To approve Resolutions 2002-19 and 2002-20 establishing investment accounts with Morgan Stanley Dean Witter and Salomon Smith Barney, respectively and authorize the City Manager and/or the Finance Director to enact investment transactions on behalf of the City. ATTACHMENTS: . Section XI of the City of Winter Springs Investment Policy . List of Primary Dealers - Federal Reserve Bank of New York . List of Qualified Institutions . Morgan Stanley Dean Witter account agreement . Resolution 2002-19 . Salomen Smith Barney Inc account agreement . Resolution 2002-20 COMMISSION ACTION: 2) Capital of no less than $10,000,000; 3) registered as a dealer under the Securities Exchange Act of 1934; 4) member of the National Association of Dealers (NASD); 5) registered to sell securities in Florida; and 6) the firm and assigned broker have been engaged in the business of effecting transactions in U.S. government and agency obligations for at least five (5) consecutive years. 7) Public Depositories qualified by the Treasurer of the State of Florida, in accordance with Chapter 280, Florida Statutes. All brokers, dealers and other financial institutions deemed to be Qualified Institutions shall be provided with current copies of the City's Investment Policy. A current audited financial statement is required to be on file for each financial institution and broker/dealer with which the City transacts business. x. MATURITY AND LIQillDITY REQUIREMENTS To the extent possible, an attempt will be made to match investment maturities with known cash needs and anticipated cash flow requirements. Investments of current operating funds shall have maturities of no longer than twenty-four (24) months. Investments of bond reserves, construction funds, and other non-operating funds ("core funds") shall have a term appropriate to the need for funds and in accordance with debt covenants, but in no event shall exceed five (5) years. XI. COMPETITIVE SELECTION OF INVESTMENT INSTRUMENTS After the Finance Director, management designee or the Investment Advisor has determined the approximate maturity date based on cash flow needs and m.arket conditions and has analyzed and selected one or more optimal types of investments, a minimum of three (3) Qualified Institutions and/or Primary Dealers must be contacted and asked to provide bidsloffers on securities in questions. Bids will be held in confidence until the bid deemed to best meet the investment objectives is determined and selected. However, if obtaining bidsloffers are not feasible and appropriate, securities may be purchased utilizing the comparison to current market price method on an exception basis. Acceptable current market price providers include, but are not limited to: A. Telerate Information System B. Bloomberg Information Systems C. Wall Street Journal or a comparable nationally recognized financial publication providing daily market pricing D. Daily market pricing provided by the City's custodian or their correspondent institutions The Finance Director or the Investment Advisor shall utilize the competitive bid process to select the securities to be purchased or sold. Selection by comparison to a current market price, as indicated above, shall only be utilized when, in judgment of the Finance Director or the Investment Advisor, competitive bidding would inhibit the selection process. City of Winter Springs Investment Policy Page 6 Federal Reserve Bank of New York - News and Events - Open Market Operations - Prima.. Page 1 of2 po + . About the Fed + Bonkins Information + Comm~lliff Dmfopmeat + Econol'llk Education + EconomIC Research & Dm + Allbndof Servlms .-----.-.", -.- - ~ + Nm'ffvellb +'Publiamons ,.------ + Slofisffcs April I, 2002 Primary Dealer List Below is a revised list of the primary dealers that report weekly to the Securities Reports Division of the Federal Reserve Bank of New York. The latest list reflects the following change(s): . . Effective March 30, 2002, Deutsche Bane Alex. Brown Inc. changed its name to Deutsche Bank Securities Inc. ,QUICK PICKS . . Effective March 31, 2002, Zions First National Bank has withdrawn its name from the list of primary dealers. I Carelli' Op~rtuJJiff.. I Conwroer CompJallds',,;;,t, l&naU Alert Semm:,':i'.." 10. hbJiamons .... ISGYiallsBGad Calculator' [Wharl". .. IWfrefesf' ..' ,.. ']in(l;iR,; I EmpIQJie10"ry I. Effective April I, 2002, Fuji Securities Inc. changed its name to Mizuho Securities USA Inc. A.l. Effective April I, 2002, BMO Nesbitt Bums Corp. has withdrawn its name from the list of primary . dealers. 1 I List of the Primary Government Securities Dealers Reporting to the Securities Reports Division of . the Federal Reserve Bank of New York I I ABN AMRO Incorporated BNP Pari bas Securities Corp. . j Banc of America Securities LLC Banc One Capital Markets, Inc. Barclays Capital Inc. Bear, Stearns & Co., Inc. CIBC World Markets Corp. Credit Suisse First Boston Corporation Daiwa Securities America Inc. Deutsche Bank Securities Inc. Dresdner Kleinwort Wasserstein Securities LLC. Goldman, Sachs & Co. Greenwich Capital Markets, Inc. HSBC Securities (USA) Inc. J. P. Morgan Securities, Inc. Lehman Brothers Inc. Merrill Lynch Government Securities Inc. Mizuho Securities USA Inc. Morgan Stanley & Co. Incorporated Nomura Securities International, Inc. Salomon Smith Barney Inc. UBS Warburg LLC. " NOTE: This list has been compiled and made availeble for statistical purposes only and has no significance with respect to other relationships between dealers and the Federal Reserve Bank of New York. Qualification for the reporting list is based on the achievement and maintenance of the standards outlined in the Federal Reserve Bank of New York's memorandum of January 22,1992 Securities Reports Division Federal Reserve Bank of New York April 1,2002 l.as,modiJi<d: 04///11001 H:46:46 33 Liberty Street New York, NY 10045 (212) 7206130 ACCESSIBILITY TERMS Of USE " Florida Administrative Wukly Volume 28, Number 17, Apri/26, 2002 DEPOSIT ACCOUNTS. DEPOSITORIES WITHDRAWING FROM THE PROGRAM HAVE A STATED EFFECTIVE DATE OF WITHDRAWAL BESIDE THE NAMES AND SHALL NOT RECEIVE OR RETAIN PUBLIC DEPOSITS AFTER THE DATE LISTED. .................................................. ALABAMA BIRMINGHAM AMSOUTH BANK COMPASS BANK REGIONS BANK SOUTHTRUST BANK MONTGOMERY COLONIAL BANK WARRIOR THE BANK BRANCHES OF THIS QPD CONDUCT BUSINESS IN FLORIDA UNDER THE NAMES THE BANK AND EMERALD COAST BANK CALIFORNIA SAN FRANCISCO CITIBANK, F.S.B. FLORIDA ALACHUA FIRST NATIONAL BANK OF ALACHUA APALACHICOLA AP ALACHICOLA ST ATE BANK ARCADIA FIRST STATE BANK OF ARCADIA AVENTURA TURNBERRY BANK BARTOW CITRUS & CHEMICAL BANK COMMUNlTYNATIONAL BANK AT BARTOW BELLE GLADE BANK OF BELLE GLADE 1962 Section XII - Miscellaneous APR-26-2002 17:39 407 648 1323 BONIFAY BANK OF BONIFAY BRADENTON AMERlCANBANK COAST BANK OF FLORlDA FIRST BRADENTON BANK FIRST NATIONAL BANK & TRUST FLAGSHIP NATIONAL BANK BRANDON PLATINUM BANK BROOKSVILLE HERNANDO COUNTY BANK CANTONMENT CITIZENS & PEOPLES BANK, N.A. CAPE CORAL RIVERSIDE BANK OF THE GULF COAST CARRABELLE GULF ST ATE COMMUNITY BANK CHIEF LAND DRUMMOND COMMUNITY BANK CLEWISTON FIRST BANK OF CLEWIS TON FIRST FEDERAL SAVINGS BANK OF THE GLADES COOPER CITY FIRST WESTERN BANK CORAL GABLES BANKUNITED. F.S.B. GIBRALTAR BANK, F.S.B. METRO BANK OF DADE COUNTY eRA WFORDVILLE CITIZENS BANK OF W AKULLA W AKULLA BANK CRESTVIEW FfRST NATIONAL BANK OF CRESTVIEW CRYSTAL RIVER CR YST AL RIVER BANK 96% P.03 Florida AJmlnistraJi"e Weekly Volume 28, Number 17, April 26,2002 DADE CITY FIRST NA TIONAL BANK OF PASCO GRACEVILLE .BANK OF JACKSON COUNTY PEOPLES BANK OF GRACEVILLE DA VIE REGENT BANK GROVELAND PEOPLES STATE BANK OF GROVELAND DEBARY FIRST COMMUNITY BANK HAINES CITY FIRST NATIONAL BANK OF POLK COUNTY DESTIN DES TIN BANK HALLANDALE DESJARDINS FEDERAL SA VlNGS BANK DUNNELLON DUNNELLON STATE BANK HOMESTEAD COMMillllTY BANK OF FLORIDA FIRST NATIONAL BANK OF SOUTH FLORIDA ENGLEWOOD ENGLEWOOD BANK PENINSULA BANK. HOMOSASSA SPRINGS HOMOSASSA SPRINGS BANK FERNANDINA BEACH FIRST COAST COMMUNITY BANK FIRST NATIONAL BANK OF NASSAU COUNTY IMMOKALEE FLORIDA COMMUNITY BANK FORT LAUDERDALE INDIANTOWN BANKATLANTIC, F.S.B. FlRSTBANK OF INDIANTOWN EQmT ABLE BANK. GATEWAY AMERICANBANKOFFLORlDA 05/1512002 INVERNESS LANDMARK BANK, N.A. BANK OF lNVERNESS FORT MYERS EDISON NATIONAL BANK JACKSONVILLE FIRST ALLIANCE BANK FORT PIERCE HARBOR FEDERAL SAVINGS BANK RIVERSIDE NATIONAL BANK. OF FLORIDA JACKSONVILLE BEACH OCEANSIDE BANK FORT WALTON BEACH BEACHCO~TYBANK FIRST CITY BANK. OF FLORIDA FIRST NATIONAL BANK & TRUST KEY LARGO TIE BANK OF THE KEYS KEY WEST FIRST STATE BAt"\lK OF THE FLORIDA KEYS FROSTPROOF CITIZENS BANK OF FROSTPROOF KISSIMMEE FIRST NATIONAL BANK OF OSCEOLA COUNTY GAINESVILLE MERCHANTS & SOUTHERN BANK MILLENNIUM BANK LADY LAKE CITIZENS FIRST BANK Section XII - Miscellaneous 1963 APR-26-2002 17:39 407 648 1323 96% P.04 .' , Florida Admlnistrati"e Weekly Volume 28, Number 17, April 26,2002 LAKE CITY CNB NATIONAL BANK COLUMBIA COUNTY BANK PEOPLES STATE BANK LAKELAND FLORIDAFIRST BANK LAKE MARY COMMUNITY NATIONAL BANK OF MID FLORIDA LAKE WALES AMERICAN BANK & TRUST OF POLK COUNTY LARGO Premier Community Bank of Florida LAUDERHlLL UNION BANK OF FLORIDA LEESBURG FIRST FEDERAL SAVINGS BANK OF LAKE COUNfY LIVE OAK FIRST FEDERAL SAVINGS BANK OF FLORIDA LONGWOOD LIBERTY NATIONAL BANK MADISON MADISON COUNTY COMMUNITY BANK MALONE PCB, THE COMMUNITY BANK MARATHON MARINE BANK OF THE FLORIDA KEYS MAYO LAFAYETTE STATE BANK MIAMI BAC FLORID~ BANK CITY NATIONAL BANK OF FLORIDA COCONUT GROVE BANK COMMERCIAL BANK OF FLORIDA CONTINENTAL NATIONAL BANK OF MIAMI EAGLE NATIONAL BANK OF MIAMI EASTERN NATIONAL BANK ESPIRITO SANTO BANK 1964 Section XII - Miscellaneous RPR-26-2002 17:39 407 648 1323 EXECtITIVE NATIONAL BANK GULF BANK HEMISPHERE NATIONAL BANK INTERAMERICAN BANK, F.S.B. INTERNATIONAL BANK OF MlAMl, N.A. MELLON UNITED NATIONAL BANK NORTHERN TRUST BANK OF FLORIDA, N.A. OCEAN BANK SOFISA BANK OF FLOlUDA TOTALBANK TRANSATLANTIC BANK MILTON FIRST NATIONAL BANK OF FLORIDA MONTICELLO FARMERS & MERCHANTS BANK MOUNT DORA BRSTNATIONAL BANK OF MOUNT DORA FLORIDA CHOICE BANK NAPLES BANK OF NAPLES COMMUNITY BANK OF NAPLES, N.A. FrFTH TIIIRD BANK, FLORIDA FIRST NATIONAL BANK OF FLORIDA ORlON BANK NEW SMY~A BEACH FRIENDS BANK NICEVILLE PEOPLES NATIONAL BANK NORTH LAUDERDALE .SECURITYBANK, N.A. NORTH MIAMI KlSLAK NATIONAL BANK NORTH PALM BEACH COMMUNITY SAVINGS, FA ENTERPRISE NATIONAL BANK OF PALM BEACH PALM BEACH NATIONAL BANK. & TRUST COMPANY OAKLAND PARK AMERICAN NATIONAL BANK 96% P.05 V"tl "UI V"'" ..1.f.~' ~-SVf V-SU .J..vLv Florida Administrative Weekly ~ ....vv Volume 28, Number 17, April 26, 2002 OCALA FLORIDA CITIZENS BANK OKEECHOBEE BIG LAKE NATIONAL BANK ORANGE PARK FIRST NATIONAL BANK HERITAGE BANK OF NORTH FLORIDA ORLANDO CENTURY NATIONAL BANK CITRUS BANK SOUTHERN COMMUNITY BANK UNITED HERITAGE BANK ORMOND BEACH COQUINA BANK. OVIEDO CITIZENS BANK OF OVIEDO PAHOKEE FIRST COMMUNITY BANK OF PALM BEACH COUNTY PALATKA FIRST FEDERAL BANK OF NORTH FLORIDA PlITNAM STATE BANK PALM BEACH BANKERS TRUST FLORIDA, N.A. PALM BEACH GARDENS ADMIRALTY BANK PALM COAST CYPRESS BANK PALM HARBOR PEOPLES BANK PANAMA CITY BAY Bf.NK & TRUST COMPANY FIRST 'NATIONAL BANK NORTHWEST FLORIDA PEOPLES FIRST COMMUNlTY BANK. PEMBROKE PINES POINTE BANK . APR-26-2002 17:39 407 648 1323 PENSACOLA BANK OF PENSACOLA BANK OF THE SOUTH PERRY CITIZENS BANK OF PERRY PORT RICHEY GULF STREAM COMMUNlTY BANK PORT ST. LUCIE FIRST PEOPLES BANK QUINCY QUINCY STATE BANK ST. AUGUSTINE BANK OF ST. AUGUSTINE PROSPERITY BANK ST. CLOUD PUBLIC BANK ST. PETERSBURG FIRST COMMUNITY BANK OF AMERICA MERCANTILE BANK. REPUBLIC BANK UNITED BANK. & TRUST COMPANY SANT A ROSA BEACH FIRST AMERICAN BANK OF W ALTON COUNTY SEBRING HEARTLAND NATIONAL BANK HIGHLANDS INDEPENDENT BANK SOUTH MIAMI FIRST NATIONAL BANK OF SOUTH MIAMI STARKE COMMUNITY ST A IE BANK OF STARKE STUART FIRST NATIONAL BANK & TRUST OF THE TREASURE COAST GULFSTREAM BUSINESS BANK Section XII - Miscellaneous 1965 96% P.06 Florida Administrative Weekly Volume 28, Number 17, April 26, 2002 TALLAHASSEE CAPITAL CITY BANK FIRST SOUTH BANK T ALLAHAS SEE STATE BANK. LOUISIANA NEW ORLEANS WHITNEY NATIONAL BANK TAMPA FIRST CITRUS BANK FLORIDA BANK, N.A. SOUTHERN EXCHANGE BANK MASSACHUSETTS TRENTON TRI-COUNTY BANK BOSTON BOSTON BANK OF COMMERCE BRANCHES OF THIS QPD CONOuer BUSINESS IN FLORIDA UNDER THE NAME PEOPLES BANK OF COMMERCE UMA TILLA UNITED SOUTHERN BANK MINNESOTA VALPARAISO V ANGUARD BANK & TRUST COMPANY EDINA INTER SAVINGS BANK, F.S.B. NEW YORK VERO BEACH INDIAN RIVER NATIONAL BANK NEW YORK CITY INTERVEST NATIONAL BANK WAUCBULA FIRST NATIONAL BANK OF W AUCHULA WAUCHULASTATEBANK NORTH CAROLINA WEST PALM BEACH FIDELITY FEDERAL BANK & TRUST GRAND BANK & TRUST OF FLORIDA CHARLOTTE BANK OF AMERICA, N.A. W ACHOVIA BANK, N.A. .Q.HlQ WEW AHITCHKA .WEWAHITCHKA STATE BANK CINCINNATI PROVIDENT BANK WILLISTON PERKINS STATE BANK TENNESSEE WINTER PARK BANKFIRST MEMPIDS UNION PLANTERS BANK, N.A. .................................................. ZEPHYRHlLLS COMMUNITY NATIONAL BANK OF PASCO COUNTY THE FOLLOWING IS A LIST OF INSTITUTIONS THAT HAD A CHANGE SINCE DIE LAST PUBLICATION OF THIS REPORT. GEORGIA,' .................................................. ATLANTA SUNTRUST BANK BANK OF CENTRAL FLORIDA ORLANDO MERGED INTO FIRST NATIONAL BANK OF FLORIDA (NAPLES). DARlEN sournEASTERN BANK 1966 Section XII - Miscellaneous APR-26-2002 17:39 407 648 1323 96% P.07 ._~~ -.....Ly- Florida Administrative Weekly Volume 28, Number 17, April 26,2002 CITIZENS FEDERAL SAVINGS BANK OF PORT ST. JOE PORT ST. JOE MERGED INTO THE BANK (W ARRJOR, ALABAMA). FIRST NATIONAL BANK OF THE Ii'LORIDA KEYS MARATHON CHANGED ITS NAME TO ORlON BANK AND ITS HOME OFFICE LOCATION TO NAPLES. IT WILL NOW BE FOUND AS ORION BANK LISTED UNDER NAPLES IN FUTURE PUBLICATIONS. FIRST UNION NATIONAL BANK CHARLOTTE, NORTH CAROLINA AFTER WACHOVIA BANK, N.A. WAS MERGED INTO FIRST UNION NATIONAL BANK; FIRST UNION NATIONAL BANK CHANGED ITS NAME TO W ACHOVIA BANK, N.A. FLORIDA BANK OF COMMERCE PALM HARBOR MERGED INTO SOUTHERN EXCHANGE BANK (TAMPA). GULF COAST NATIONAL BANK NAPLES MERGED INTO FIRST NATIONAL BANK OF THE FLORIDA KEYS (MARATHON). HUNTINGTON NATIONAL BANK COLUMBUS, OHIO SUNTRUST BANK (ATLANTA, GEORGIA) ACQUIRED THE FLORIDA OPERATIONS OF HUNTINGTON NATIONAL BANK. HUNTINGTON NATIONAL BANK [S NO LONGER A QUALlFIED PUBLIC DEPOSITORY. W ACDOVIA BANK, N.A. WINSTON-SALEM, NORTH CAROLINA MERGED INTO FIRST UNION NA TIONAL BANK (CHARLOTIE, NORTH CAROLINA). DCA Final Order No.: DCA02-0R-107 In re: A LAND DEVELOPMENT REGULATION ADOPTED BY ISLAMORADA YILLAGE OF ISLANDS, ORDINANCE NO. 02-16 FINAL ORDER The Department of Community Affairs (the "Department") hereby issues its Final Order, pursuant to ~~ 380.05(6) and (11), Fla. Stat., and ~ 380.0552(9), Fla. Stat. APR-26-2002 17:39 407 648 1323 (2001), approving a land development regulation adopted by a local government within the Florida Keys Area of Critical State Concern as set forth below. FINDINGS OF FACT 1. On March I, 2002, the Department received for review Islamorada, Village ofJslands Ordinance No. 02-16 which was adopted by the Village Council on February 21,2002 ("Ord. 02-16"). Ord. 02-16 adopts definitions applicable to the Village's Land Development Regulations. 2. Ord. 02-16 is consistent with the Village Comprehensive Plan. CONCLUSIONS OF LAW 3. The Department is required to approve or reject land development regulations that are enacted, amended or rescinded by any local government in the Florida Keys Area of Critical State Concern. ~~ 380.05(6) and (11), Fla. Stat., and ~ 380.0552(9), Fla. Stat. (2001). 4. Islamorada, Village of Islands is a local government within the Florida Keys Area of Critical State Concern. 9 380.0552, Fla. Stat. (2001), and Rule 28-29.002 (superseding Chapter 27F-8), Fla. Admin. Code. 5. "Land development regulations" include local zoning, subdivision, building and other regulations controlling the development ofland. 9 380.031 (8), Fla. Stat. (2001). The regulations adopted by Ord. 02-16 are land development regulations. 6.' All land development regulations enacted, amended or rescinded within an area of critical state concern must be consistent with the Principles for Guiding Development (the "Principles") as set forth in ~ 380.0552(7), Fla. Stat. (2001). The Principles are construed as a whole and no specific provision is construed or applied in isolation from the other provisions. 7. Ordinance 02-16 promotes and furthers the following Principles: (a) To strengthen local government capabilities for managing land use and development so that local government is able to achieve these objectives without the continuation of the area of critical state concern designation. 8. Ordinance 02-16 is not inconsistent with the remaining Principles. Ord. 02-16 is consistent with the Principles for Guiding Development as a whole. WHEREFORE, IT IS ORDERED that Ord. 02-16 is found to be consistent with the Principles for Guiding Development of the Florida Keys Area of Critical State Concern, and is hereby APPROVED. This Order becomes effective 21 days after publication in the Florida Administrative Weekly unless a petition is filed as described below. Section XlI - MisceIlaneous 1967 96% P.08 U'tl ~Ol VL. .1.' ,. Lou ~ "tV I U-SO ..1...)'''> Florida Administrative Weeldy J'UUL.1\'" J'.1.l'U~"\"'.1J'''L 'l!,J.VVL Volume 28, Number 17, April 26, 2002 DBE PARTICIPATION: TCRA solicits and encourages Disadvantaged Business Enterprise (DBE) participation. DBEs will be afforded full consideration of their responses and will not be subject to discrimination. FLORIDA HOUSING FINANCE CORPORA nON Request for Proposals 2002/02 Program AdministralorlMaster Servicer The Florida Housing Finance Corporation invites all qualified and interested parties wishing to provide services as Program Administrator/Master Servicer for the Single Family Mortgage Revenue Bond Program to submit proposals for consideration. Written, sealed proposals shall be acccptcd until 12:00 Noon (Eastern Time), May 31, 2002, to the attention of Robin Grantham, Senior Contracts Analyst, Florida Housing Finance Corporation, 227 North Bronough Street, Suite 5000, Tallahassee, Florida 32301-1329. For questions or additional information, please contact Robin Grantham, (850)488-4197 or ro bin.grantham@f1oridahousing.org. To obtain a copy ~f the R~uest for Proposals, which outlines selection criteria and offeror's responsibilities, please submit your request to the attention of Robin Grantham, or you can download the Request for Proposals from the Florida Housing Finance Corporation website at http://www.f1oridahousing.orglrfps.html. Any modifications that occur to the Request for Proposals will be posted at the website and may result in an extension of the deadline. PALM BEACH COUNTY WORKFORCE DEVELOPMENT BOARD REQUEST FOR PROPOSALS FOR CHILD CARE SERVICES The Palm Beach County Workforce Development Board, Inc. (WDB) is accepting proposals for the provision of childcare services for dependent children of program participants including infants, pre-schoolers, toddlers and school-age children. Services provided shall be in accordance with the Palm Beach County Health Department's licensing requirements and minimwn standards for childcare programs conducted in Palm Beach County and with any other applicable federal, state, county or municipal law. The deadline for receipt ofRFP responses is 5:00 p.m.(Eastem Daylight Time) as detennined by WDB, May 17, 2002 at WDB's administrative office, 2051 Martin Luther King, Jr., Blvd., Suite 302, Riviera Beach, FL 33404, A TIN: Kenneth E. Montgomery, President without exception. The RFP is available for pickup between the hours of8:oo a.m. and 5:00 p.m., April 18, 2002 through May 17, 2002 at the WDB administrative office address stated above for a non-refundable service charge of $20.00 per RFP application. APR-26-2002 17:]9 407 648 1]23 Make checks payable to the "Palm Beach County Workforce Development Board, Inc." The RFP is also available free of charge on WDB's website at www.pbcworks.com. WDB may change scheduled dates if it is to the advantage of WDB to do so. WDB wiU notify applicants of aU RFP changes via posting on the WDB website, www.pbcworks.com. at the same location as the RFP. A bidder's conference to answer questions regarding the RFP wiU be held at WOB's administrative office on May 2. 2002, 2:00 p.m. and May 9, 2002, 9:00 a.m. The WOB complies with the provisions of the Americans With Disabilities Act. If you are a disabled person requiring any accommodations or assistance, please notify the WDB, Kenneth E. Montgomery at least 72 hours (3 days) in advance. WDB encourages women and minority businesses to submit proposals. WDB reserves the right to reject any or aU proposals. Section XII Miscellaneous DEPARTMENT OF INSURANCE DEPARTMENT OF INSURANCE OFFICE OF THE TREASURER BUREAU OF COLLATERAL MANAGEMENT PUBLIC DEPOSITS SECI'lON .................................................. FOR PUBLIC DEPOSITORS TO RECEIVE THE PROTECTION FROM LOSS PROVIDED IN CHAPTER 280, FLORIDA STATUTES, THEY SHALL COMPLY WITH THE FOLLOWING ON EACH PUBLIC DEPOSIT ACCOUNT IN . ADDITION TO ANY OTIIER REQUIREMENTS SPECIFIED IN CHAPTER 280: (1) EXECUTE TIlE PUBLIC DEPOSIT IDENTIFICATION AND ACKNOWLEDGMENT FORM DI4-1295 WITH THE QUALIFIED PUBLIC DEPOSITORY (QPD), MAINTAIN IT AS A VALUABLE RECORD, AND CONFIRM THE ACCOUNT ANNUALLY; (2) EXECUTE A REPLACEMENT FORM DI4-1295 WHEN THERE IS A MERGER, ACQUISITION, NAME CHANGE, OR OTHER EVENT ~CH CHANGES THE ACCOUNT N~ ACCOUNT NUMBER, OR NAME OF THE QPD. THE FOLLOWING QPDS ARE AUTHORlZED TO HOLD PUBLIC DEPOSITS. THEY ARE LISTED UNDER THE STATE OF HOME OFFICE LOCATION. INSTITUTIONS MARKED WITH AN ASTERISK HAVE LIMITED THE AMOUNT OF PUBLIC DEPOSITS THEY WILL ADMINISTER AND ARE NOT ACCEPTING NEW PUBLIC Section XII - Miscellaneous 1961 96% P.02 04/2ti/02 17:25 '0'407 ti41i 1323 J'UllLl C l' 1 NA!'I..\2!.!!...~ I@UUl '-".- .----. e... ~ Public Finandal Management Ananclal and Investment AdvlsOfll SullQ 720 201 South Orange Avenue Orlando, FL . 32801-3470 407648-2206 407-648-1323 fax www.ptm.c:om Fax To LCltJ, 'Se. -:t=Vc.,VIJ J 0 Lll C~veAle:n:0 Jay Glover Finn C\ hy at- kil'v-JR-C Sp f'c'U) From David Miller Eric Lasso David Moore Rebecca Peterson VirgInia Rutledge Dorrena Davis Client # Fax 407-~7-L(7S~ cr/2y ~L- Phone Date Pages IncludIng co\(er o Urgent o As Requested o For. Review o Please Reply Message Q r D L.l'~-r QS 0+ ~ cnJ- le.-f- ~e... ~"-' () vV JA CA. v~ 0-. .lVlle.... ~ eJLe. vvd ,- I f?-vmIl~ . A-pvl'l h.Ov-J ~ G <2 DOL ( .C<A~ ~~. Lre-. The infonnalion contained In this facsimile message is privileged and confidential information, intended only for the use or the Indjvldual or entily named above. If the reader of this message Is no! the Intended reclplent, you are hereby notified thaI any dissemlnalfon. dlslnbutlon or copy of thIs communlcation Is shicIJy prohibIted. If you have received this communication In error, please Immediately notify us by telephone. APR-26-2002 17:39 407 648 1323 %% P.01 MORGAN STANLEY DEAN WITTER OFFICE ACCOUNT NO. FA I I I ,- I For Municipalities, Non-Profits, and other Organizations & Institutions Type of Organization: L Municipality/Governmental Entity_ Non-Profit Private Sector: Educational_ Religious_ CharitablelFoundation_ Labor Union/Credit UnionlCooperative_ Other: Account Agreement & Enabling Resolutions To Dean Witter Reynolds Inc.: . The undersigned, c.; 4- , C> ~~ ..~~ ~ ~t..~~.s (name of organization/institution, referred to as the "Client"), actinifby P A....- \ t'. ; A ,- ~ "- Po.:J (name of individual), the Client's duly authorized \-" A II' ~ r (President/Chair an/Mayor, or other title, referred to as the "Officer"), pursuant to the following duly certified resolutions, hereby authorizes you to open a Securities Account in the name of the Client. This authorization shall continue in effect until revoked by the Client by a written notice addressed to you and received at :;1.00 t:.. ""., ~ fi.....S)arv!. .L(t,t1organ Stanley Dean Witter branch carrying the account). ......,...;.-.,.. p--~... w:: &.-. Further, Client hereby certifies that the following is a full, true, and correct copy of Resolutions duly and regularly adopted by vote of the c~~,......,...".'\.(c.t.*__ (Board of Trustees, Council, or other supreme governing body, referred to as the "Boardj of the Client, that such Resolutions have not been rescinded or modified and are in full force and effect. and Client further represents and warrants tha~ (1) the Resolutions are in accord with and pursuant to Client's underlying charter and by-laws; (2) the Resolutions are in accord with all constitutional, statutory, and regulatory provisions pertaining to Client; (3) Client is empowered to take the actions called for by the Resolutions; (4) Client is duly organized and existing; and (5) the persons designated below as officers of Client have been duly installed and now hold the offices in Client set forth by their respective names and their true signatures. c.. I+r -~ -...-J~~:""5~ (Client), by: (Officer) Date: ,~. Authorized Individuals: I further certify that the following officers and/or individuals have been duly authorized, individually, pursuant to Resolutions "second" and "third" on the reverse, to issue instructions concerning the Securities Account, and that the following are their true signatures: Print Name: Print Title: Signature: hr'">. h ~c... Co. Fr-A~5O-\ ~.~::::_::- ?~.~~~<5( --- (1... 00 r-.. \ ~ ~. ('V' c. I.-.P~~ l /' . - IN WITNESS WHEREOF, I have hereunto affixed my hand and the Seal of the Client, this day of '~-' (Secretary, or specify: ) Morgan Stanley Dean Witter is a service mark of Morgan Stanley Dean Witter & Co. OWR 7889 (12-92) REV. 10198 Services are offered through Dean Witter Reynolds Inc., member SJPc. -, Resolution 2002-19 FIRST: Resolved that the City of Winter Springs is authorized and empowered to open a Securities Account with Dean Witter Reynolds as described in the Morgan Stanley Dean Witter Client Agreement. SECOND: Resolved that the Securities Account shall be a Cash Account for the purpose of purchasing, selling (including short sales), transferring, exchanging, pledging, and generally dealing in any and all forms of securities and financial instruments as detailed in the City of Winter Springs Investment Policy. All orders and instructions, written or oral, relating to the Securities Account shall be given you by one ofthe individuals designated below under the heading "Authorized Individuals," and each ofthem individually is hereby authorized and directed to purchase and/or sell and/or deal in any and all securities and financial instruments for the City of Winter Springs, including the power to deliver, accept delivery of, pledge, endorse, and direct the transfer of record title of any assets beneficially owned by the City of Winter Springs, without obligation on your part to inquire into the reasons for said orders or instructions. THIRD: Resolved that you may deal with any of the Authorized Individuals as though you were dealing with the City of Winter Springs directly. FOURTH: Resolved that each of the Authorized Individuals is authorized and directed to execute and deliver to you on behalf of the City of Winter Springs any and all agreements, documents, contracts, and other writings that you may require. FIFTH: Resolved that the Secretary (or other duly designated officer) of the City of Winter Springs is hereby authorized, empowered and directed to certify, under the Seal of the City of Winter Springs, or otherwise to you: (a) a true copy of this Resolution; (b) specimen signatures of each and every individual empowered by this Resolution; (c) a certificate (which, if you require, shall be supported by an opinion of the general counsel of the City of Winter Springs, or other counsel satisfactory to you) that the City of Winter Springs is duly organized and existing, that its charter empowers to transact the business contemplated in this Resolution, and that no limitation has been imposed upon such powers by constitution, statute, regulations, charter, by-law, or otherwise. SIXTH: Resolved that you may rely upon any certification given in accordance with this Resolution as continuing fully effective unless and until you shall receive due written notice of an amendment, modification or rescission of such Resolution or certification. Further resolved that you shall not be liable for any action taken or not taken upon instruction of any Authorized individual prior to your actual receipt of written notice of the termination or impairment of such person's authority. The failure to supply any specimen signature shall not invalidate any transaction, which is in accordance with authority actually granted. SEVENTH: Resolved that in the event of any changes in the office or powers of persons hereby empowered, the Secretary (or other duly designated officer) shall certify such changes to you, in writing, which certification, when you receive it, shall terminate the powers of the persons previously authorized and empower the persons thereby substituted. This Resolution introduced and adopted by the City Commission at its Regular Meeting on May 13, 2002. City of Winter Springs Paul P. Partyka, Mayor City of Winter Springs, Florida Attest: Andrea Lorenzo-Luaces, City Clerk City of Winter Springs, Florida ("'"'""""\ Q r:::> co.-.. ..s .b- \__ Enabling Resolutions '7 )-. -=.:::> ":4 - \ '\ FIRST: Resolved that the Client is authorized and empowered to open a Securities Account with Dean Witter Reynolds Inc. ("you") as described in the Morgan Stanley Dean Witter Client Agreement. SECOND: Resolved that the Securities Account shall be a Cash Account or a Margin Account for the purpose of purchasing, selling (including short sales), transferring, exchanging, pledging, and generally dealing in any and all forms of securities and financial instruments of fNery kind or nature whatsofNer. All orders and instructions, written or oral, relating to the Securities Account shall be given you by one of the individuals designated below under the heading "Authorized Individuals," and each of them individually is hereby authorized and directed to purchase and/or sell and/or deal in any and all securities and financial instruments for the Client, including the power to deliver, accept delivery of, pledge, endorse, and direct the transfer of record title of any assets beneficially owned by the Client, without obligation on your part to inquire into the reasons for said orders or instructions. THIRD: Resolved that you may deal with any of the Authorized Individuals as though you were dealing with the Client directly. FOURTH: Resolved that each of the Authorized Individuals is authorized and directed to execute and deliver to you on behalf of Client any and all agreements, documents, contracts, and other writings that you may require. FIFTH: Resolved that the Secretary (or other duly designated officer) of the Client is hereby authorized, empowered and directed to certify, under the Seal of the Client, or otherwise to you: (a) a true copy of these Resolutions; (b) specimen signatures of each and every individual empowered by these Resolutions; (c) a certificate (which, if you require, shall be supported by an opinion of the general counsel of the Client, or other counsel satisfactory to you) that the Client is duly organized and existing, that its charter empowers to transact the business contemplated in these Resolutions, and that no limitation has been imposed upon such powers by constitution, statute, regulations, charter, by-law, or otherwise. SIXTH: Resolved that you may rely upon any certification given in accordance with these Resolutions as continuing fully effective unless and until you shall receive due written notice of an amendment, modification or rescission of such Resolution or certification. Further resolved that you shall not be liable for any action taken or not taken upon instruction of any Authorized Individual prior to your actual receipt of written notice of the tennination or impairment of such person's authority. The failure to supply any specimen signature shall not invalidate any transaction which is in accordance with authority actually granted. SEVENTH: Resolved that in the event of any change in the office or powers of persons hereby empowered, the Secretary (or other duly designated officer) shall certify such changes to you, in writing, which certification,_when you _receive_it, shaILtemminateJhe___ ____ powers of the Persons previously authorized and empower the persons thereby substituted. l'tHY. c::. c::tlldC:: ,:l..:jbrTI .::>l"l.l I r1 OHKlil:.. r I tV. 01 tJ ,- .&:. Account Application, Client Agreement and Substitute Form W-9 Request for Taxpayer Identification Number SALOMON'SMITHBARNEY Aaount Number Brmr.h k.rJlI lOr A memberof otlgrou~ Fe: Account Dwne~hl / List all aecount owners: Account Addreu: Street Mdr8S$/ Lire 1 Dale 01 Birth aT Accounl Owner named 11m above CIty L-> "",~c.r Slate and ZIP Code i=- \ ...., '" U.S. Penrllnent !Widen! Allen: Counlly of citizenship Is: f.'MA C.trd 3':)...,=-'i I' , I I of I. 0......5 other 'Ie 5 ~..-c>-J .~~ tJo Mu/tip/s owner iJCt:I)untS: Pleaso tell us If one or two signatures ii/S reQui/ed to 3'.itlJorize ClJecks. How snould the account owne/'s (pri~ry caromsmbe/'s) Information ilppeJ/? Home PhlX1t Number ~J~I !>P.r'llritv Nllmher tJrO How shoUld the account oo-Q'I.'ner's information appear? Home Pnone Number A(I(lition.,1 FM^ Privileges ,Idle cull wi.lI be SWllpt cbily into your dtoia: of: '0 &Ilk Dep~it Ptogmn- FDIC-insured ~'t'I in i affiJ~ted Cirigroup banlcs (Ncnc: not :rn.i~hle , mm1grd ~a:oums or hlUinest accounu.) o Ta."I'fn:c money muka fund seleCTion. o In.lured $\\\'in" deposits through the ID.AI~tuIe. ; 111I11I11~lllallllllllll ~// ~ J 0 ::! 6 . I r o Direct Drpont. Your empl~t ptlUion plan or Socill Securily a.'1 mxl payments ditcl:dy 10 your u.coUIU. CoRl-1Ct the PITte dilccrJy 10 enroll. f'J,o fOR 3026 (1<12001) / f'llge 1 014 MAY-02-2002 15:50 99% P.02 l'lAY. 2. 2002 3:3SPr1 ::>r'11 I H I::lHkNI:. Y l'iU. tj(<:J t-'..::l I_.N",,~' Brandl I At:coun! IT ,e (C ) Tnnsfer money by phonc bctWC<!n your PMA and bank ac:c:ounr.. You tn2y sJ.<o tr.IJlj(cr to UlOther Salomon Smith Barner sccoum Wt h~, been r )'Our FMA ucount ror mrement rcponing pUrpos~. Altac/l a voided check Of d letter (rom yo/J{ bank com7rml/lg th~ dXi1 um~r. litle, iJCtt)UnJ fype (che . or savings) dfld //Ie bdnk rouling nliTllJer (fIOI fe(Juirod 101 /f3IlSfers to Sd/OlTlOll Smith Barney JfXoonrs). Your bank arxount ~ f/;;vs //I~ name 01 311m tille. Spsak to your Financial ConStJIlMt lor lrusl and eslJ~ ownorsliip requirfflltn/$. Flnancldl Account InslllUlIM Number . /.) a Salomon Smith Buncy FuuncW Manascncnr .Account, you m:lY rr.lck )'Our =unt ) t= and acrivitywith Quidccn-, Quidc:eoola;cII, or Miecosoftcll Money sol1w:uc. Fees nuy ~ppl Please our Pinmci.&.l Consultanr for an application. Fst::ablish my 2.CXOUDt :IS lID FMA. PWS, I wiU benefit. from: fee: W3lv<!l$ on up to 100 ATM withdnwili per )'C3I with m}' PMA Urd, no monthly fee for cIown102ding dAta to Quicken or () Microsoft Monq. a C1Jmplimcn~ IRA llnJced to my ao:ouru, :1lld premier lat.!menr reponing. ~ I Sp'ult with )OUT Rn4.1'ci4./ OJn/'ulr_r fir tlaadr on rl4.Ummr rlJ'Dning _tI IRA rn-vim. Nor I awi!4h1r /Jtuinm PMA It~rountt. Name Disclosure The i= of socuritia we held for you in weellW1lC aur rcquec)"Our rwn:, address ~ =itia posicion. I nw information ....ulnot be reb.~ if )"ou checlc thu bOle: 0 I Bank. irsued a=niEiora of deposit purctu-l throll{;h Salomon Smith Buucy, the S~OIUOD Smith BIUDey' B:mk Deposit Progam"" :1lld the Salomon Smlth Barney l.D~und DepCKit Amount iWeep fc:suurc: :LIe mNctd br tho FDIC (see: disd08uce doasme:lltll for ckuiU). All other invc'tmcoT 01' iosunncc products ~~~~~~~ ' . -are DOC ill.turc:dbydlO PDIC; . I "llI'C not a deposit 01' other obl~tioll of s depodtoIY illmtution Md lIl'C IlOt gu.u;\l1teed by:. depository iD.fticutiol\l I .~ subject to Unubnau ri..kJ; including me p<nsibk log; of tha priadpd amOQllt ill'fUter!. ,In comida:aion of Sllomon Smicb BUIlcy Inc. rSSB") uupting an ICCDunr for me/us. r!we (1") ~knowIedse dur I ~ read, w1dcrmnd ~d I;ra: to the = of the lct:lchcd Client ~t in rccUoes 1 through 11. If chis is 1 mUltiple: pm)' aCCOunt, lIwc futthet adcnowledge dut Uwt h-: rod. undem:znd llld ~ EO the = of the ! m.uhc:d Client Agreemenr COJ\Wned in KCtiolU 12 chrou~ I ".If I ~ rcqucited Salomoa Smich Buncy Jvxeis. I hrtc twi und=d, llld 2gfGe to die terms of w Salomon ,Smith Bunty kceu ~=nctlt lfI haTe req=cd allY ot the scrvicc$ roc.retlced in cbc FMA S<<lialU 2hoYe, I ~ee to the = of the FMA J.srecmcne due Iw been provided lto me n1d Ulldcrsand rlut both an accouot minimum 6/l1lCC Uld tMUaI &:c apply. r ~l\!hodze.ssB ro ettlb1Wi chtdcing privilege$. Online: ~ snd the Auronuoc Pundt lTn.n.tkr servi<:e. ~ to ~ve the FMA Card(s) u,<ucd as ilUuuad on this Ao:ounr~pJiation. and r affirm We I have me ~uthorit)' co open this account. I authortt.c ssa and ~cbc FMA G.rd Issuer to have FMA UrJU) iuued u incliarcd. I undcutand rhu this aa:oWlt u governed by the PMA Agr~m:nr. the: Oic:ne Agreemenr, the: Online Savi= ~ ~~c:cment, my agroemc:ne with rhc FMA Cud iuua; the &lIk Oepont Program DUcJo.IlUC Document. the IDA Disd.os\ue Docwna1r, and/or Otha agreanellts I J:U)' Iuve ~f1fh SSB or odla pronws of setYia:s n:latt\! to the PM}. account. fluvt read all ~ dOQJmtQtt and ago: to their ~. )f this 8.OOOIUll is cst:ablimed with Ponfolio CrecUd.ine pri~ I fUnher admowladgc we [ h2w n:ad, undttstmd aDd agne to the temn of the Ittw:bed Oient ~CDt contniAed La tc:ctio~ IS duoutk 17 &.ad Wt rriy/OUl secwitiao nuy be loaDed to 10U or IOlUltd out to othtts. Tn: Certlllallon: Under pena1!les of perfuIY I cerlil, Urat 1.) the number I havI ~ravld8d allan is my correet Takplyer Ident1l1caUan Numbsr (ar lam wailinlllor a number to be issued to me). and 2.) I am not subJect to backup wIlhhaldlnl because: a.) I am axumpt Irom bacJcup withholding, Dr b.) Ilrave not been noUlled bV I/Ie Inlemal Rovenue Service (IRS) ilia I 1 3m ",bluet to backup wllllholdlng at e resall 01 a lallure to report aU Interost and dividend:, or c.) lIIe IRS har nOllllOI1 me lhall am no long or subject to backup whhhordlftll. 3.II;lm a U.S, parsoR;(lncludlng a U.S. rasldenl alienI Cerfillcallon InstructIon,: You must aon Ollt 110m (2) above (I you have been naUlled by the IRS Ihal you are currently sublecllo backup wlthheldlng because you hIVe lalled 10 report all Interest and dlvhfonds an your 1a118lUrn. Sa/JJ"," Smith B4m" 1M. ~"}'MIf' (Dnsnd t4 tlrc qpSu6lt proftsitnu of rbir A,rrctmmt in tmlltr UJ Dpm tlJJ4 mnirrrm. yofJt' tIfflJ/InL -::::::- ~ I awOVJlcdgt that I ha~ mcciwd me CJiCl1l: ~ 1.fmuJ Rnnuu &n,;" Joa "Gt ref";" ~fIf' ~All . ~Cl1t which contl.ins Il prc-clil}lutc In&UlIl'''.,,, prwiri,,, Gf tlN ~r .ElItr t?- rlH ~ <<corm! own".t m.~ Ubicnr.iOD chuse in IttboD 6. um'fWMtu ~ t4 It'HiJ 61J1/Np 1IithI.JJl.I. If FMA Checking is r~tUsrcd, 6:~1 ~ r-"-N--"'-'C-_.'--"'-'--~--..-oa'e .s -T--'-~l PUASC sign IU YDU wiD ttonnally Slgn.uure , :~...:..._-_._--;-=~-_.__._.__.________l.:-L.:~ fign your checJa. ~i~~~:r~ ~ r'?"M'-__:,.{ ~-"~_._'~---'-~oate'-~_' -~-~-'i --~~w ..-. ~N' ../...r~.__ N ----.-.--.--~----A ~-~- li.r.: 1 ~:,:!:l'~\~~;/~~~~Jr!~':~: FOR 302E (1t;~l/ P20t 2 014 ~\IB..;..~~;.I("..J~..\U;Iir.:'_ ::::s:.tt:......t l-i~ OPTIONAL. C,mpt.ftI Dnly 11 you rtIIb ~ embllth monlhly at blweDkfY mcnrrlng ffsMJsI1. Campl.ls fbI, ,SCIIaR DnlY If your bAst I~DI1n1 "", itrdar/ft f6meDoe who It RaI , Co.owner D' your Select your TeJophofle Aul11orfZ3~on Code: InlJf1'tb8f3 onry): Ty]le or Account 0 Chcdcing o s"ving& j~ ~tU/lIy. on the I iweekly Oil 0 MOIl I day 01 aadl mOO1/) (spec/~ ItlS 1st rlvoug1l 28/h) o Tue 0 Wed 0 Ttlu 0 fri !Dare I'IH I. c::... C.U(JC- ...:.J-...:", I I' In considoration of your opening O/1e or more accounls tor me (\<.e'. 'us' 2nd 'our' are each subsUlUled for 'J", 'me' and 'my", respectively. In !he C3re of multiple account holdors. corporations and other enlifles). and )'Our aQreeing 10 act zs broker/dealer for me [0( Ihe exlension of cfoolt afld in the purcha!2 or sale of recurilies. commodifies. options and othef properly. ills aoreed in respect to any andall accourLs. whether upon margin or otherYoise. which I now have or may alany luture Ume have....ith Salomon Smith Bameylnc. or lis diroct or indired subsidiaties and affiliates or their successor.; or assigns (he.reimiter referred to as 'you' or 'your or 'S$8'), lI1af; 1. All trolsacllons entered into undor thIs Agree/llef1! shall be subject to any 2Ilpllcable conSlitutiOll. rules, regulations. CUSloms 2nd usages of the axchange or flW',((l( and its cJearfn9hoUS8, it any, where such ttansadions are ClteculOO by ssa or il.S aQ8flts and to all applicable Io?w.;, rules and regula/ions 01 governmsn131 euthorities and SSn-nJ!lUlatory agencies. Such relerence to IIIe 'consUtl.Jlion. rules, re!julallons, custorw; 2nd usaQes of the exdl:lnlls' shalf in no way b~ COOSlJ\JOO 10 creale a calOSQ 01 aclion arising Irom afly ~iolalion of such oonstitution. ruJas. regul.11Jons, c~toms and usages. 1/ any provision Is eoact:d that would bt il1CDl1si.l!en! with any of !he provisions of this Agreemen~ lhe ptovision so 2lIedad shall be deemed modJned or supe1seded by 1I1e enactmenl bu/ !he rerNining provisions o1lnis Agreafllllfl/ shall remain in elIecl Except as herein providsd, no provision o1lt1is AQrgel'l18ll1 may be waived, allered, modified or amended unless lI1s same i3 in writing and signed by an au&iori2&d olTicial 0/ sse. 2. I agree (h.!1 all property wnich I own or in which I nave an ~Ship interest, whalherowned indivIdually, joinuy or in !he name 01 another person 0( emily, whIch at any Ums may be U1 your possession or conITol lor JJ1y purPOSe, indudino salelceepi/lQ, shall be SUbJect to a COntinUing security inlerest, lien and righl 01 sel-off ror /he diSC1l3rge and sailsfadion 01 any dsbls or Obligations however anslng lI1at I may owe to sse al any ti~ llld for any reason. sse may at its discretion nold such property unlil my dsblS or Obligations b sse are fUlly s.<lisfied or sse may apply such propel1y and !/le pr0G38ds ollhe Iiquidallon 01 slttl propeny toward the satisfaction o( my dalllS and obligations and I will rerrnin liable to ssa 10( any doflclancy.l~ :. enlorcifllJ your S8CUrity inlefesl, )'OU sh211 have I~e discretion to detennine wnich pro~ is 10 be sold and the ordet in wnio'l it IS [0 be sold and snail hava ell the rights 2Jld remedies avaIlable to a secured ~r1y unoor Ihe New Yoll< Uniform Commercial Cede.. Wlttlout your prior written coll3etlL I will not causa or allow any or II1e col/zleral held in my accoUnl(sl.lvhetrel nfN/ owned or hereanBr 2CQuJrad, 10 be or become sub)ec110 2ny liens. S&lJriry interests. mortgages or encumbrances of eny nalure otI1Or lh2Il your s~rit)' lr1lerasL . . Wi thout limiling \hs generali ty olthe foregoing ,I herebyauthor1za sse to autom!ticzlly liquidate any money r:'l3fket fund shams or 'f.1lhclraw any savings depOSit balznces available in my accounl(s) from lims to Ume to coV!!r any of my i~dabtedness or oblioa1lons to ssa inctudino non-lrade relal.ed debts. You 2fe further 2utllorlzed to tiQuidate arrl othel' property held In my aCCOLD1~s) 10 satisfy any such indebtBdness or obligations vA1anever in your discrallon you consIder II necessary roc your prolECtlon. You are herel1t authorized y,illloulflR1har dlreclion from me to automatically deposltor~p. all tne 'ree Cflldlr balances in my 3CCOlIlllnlo one or more FDIC insure<! deposilol)' InSlllutions ('Program Banks') affiliated with you as more parti!:ulc.r1y s9/forth ill the disclosure docul!lent . which I reptesenllhall have read and by....hich I <.qrooto be bound. I undefstal\d lhalyou may amand rha lis! 01 Program Ba~ and th3l1 may elimlnale clIly Program B2nk fromlhe lis! at any Urns. II ~treecredilbalancest/la[ araswepl into lhe Program Bank!; reach tn9 rnaxlmum 8100unl /hat I have aulhoriled you on my benalllo deposit or lllal !Ny be so deposltea under the Bank Deposit Program rProoram'J. you are autl1ori29d 10 sweep. \Ioiltoout furtl>er direction [rom me, my excess eligible fres credit balances into the 5B Money Fllld portfolio rhall have chOS!n. I acknowledge (i) tltall am responsible to monitor lh9 lDlalamOlll1 of dsposlrs I nave at each Program Bank in order 10 determiroe tile exfli\1t of ~deral Oe;lOSit Insurance Corporation inSllTilnce COV"J3Qe available to me. and (li)lhal Salomon Smilh I!arnay is not responsible for any insured or uninsured portion ol my d9posits al any of the Program Banks. f undefstand Iha/I may insltud you not [0 sv,13ep Ihe free c(edlr balances in any of my aCtOUnls into a Program Bank account but insta2d to sweep such /re(j cndil balances into a laX exsmpr I money markal rund. 1/ I so instruct you, you are aul/1oriZOO, wlthoulfurther direellon from me, 10 invest any eligible free credit bzlancas In any 01 my accounts In the tal exempt money market I. fund you make available and that I have chosen. I III have eleded II1e Insur~ Deposl/ Account ('IDA 'J leature as Il'ri sweep, you are authorized . withoullurtherdlT9Cllon from me 10 inv~ eligible lreecredi! balanca in my accounts insavings I deposils atlhe deoos/tory Institutions in the ordllrset forth on the lisllurnlshed to me Irom time to lime. I understand l/lat you may aflle/ld the list 01 deposloory InstiMions and l11atl may slim/na/e aeposilory institutiO/1s from !he list at any lime.l( my runds i.nvested through the IDA teallJre read1the mJ-timum amount Ul311 have wlhO(lzed you 10 so Invest or lI12/ may be so invested roo aro aul110rlzad 10 invest excess eliolble tree credit bzlancas in tile rroney mar1<cl lund I hM c!losen or yoo have chosen pursuant 10 my aulhoril2!ion. I have reed the IDA Disclosure Doeumtn!and ~ree 10 be bound by its terms and r.ond:dons. 'Prooerty' as u;:ed anywhere In rhl~ AorP.:'m.ont ~h~J1 incl'Jda. but Ml tie limilild to, invosl/llQnI prolleflY, securilie9 andcommodilies 3OCOums, securilies at a/l kindS. ~Oll6y, ssvings deposits, , certificales ot deposi~ banlaJrs' accepr.ances, commerc~ Daper. OPtIons. commodltlas, and contracts tor the iuture delivery of convnodilies or rslallng /0 commodities or securiUes, and rhe distributions. procoods, prodlJcts and cCl:essions of any of the above. All property held In a FOR 3026 (12/2001) / Paoa 3 of4 , I . r1AY-c;J::;J-.?00.'2 15: 50 CLIENT AGREEMENT securities accounl shall be lfe:lted as a llnancial asset under Article 8 of Ihe New York Uniform Commercial Code. 3. In case of lhe sale of any soCurlry. commodity, or orher properly al my direction 2nd Ihe inabili!y of SS8 10 delivet ths 52mB to the purchaser by reason 01 my failure 10 supply l/lem 10 558.1 au[hori2e sse to borrow any security. commOdi~J. or other properly necessary to make dellvf{y 1I1erro1. and I hereby agree 10 be responsible for any loss which sse rT1JYsuslain Ihereby ana any premiums, inlerest or other costs which sse may be required to pay.:s a resuli of such borrowing, and for any loss or CO$( v.flicn SSB may sustain by Te2Son 01 Its Inability to borrow the S6Curiry, oommoditl', or olher propefty sold. I agrea mat i/ I utilize your services to receive or Issue funds ~ wire (wire lranstors), I am responsible for the issuance 01 3CC1Jf2le ,"d COrt'4llele ins!rUcllons in rela~on (0 saId w~e transfers and I will hold you Ilarmle<'..5 from all liabilities it I ~II 10 fulfill this respOnsibility. I fUMer agree thaI shoold I Incur a loss in conn8CIion With a wirnlransfer as a resull of negligence or olher activities on your part. your lIabl1lry will be limilBd 10 /he actual amount 0/ !he misdirected or mIsapplied funds 2nd no other damages of any othet nature inchxling conse- Quenlizl danlaQas will be ~ble. You may ch2roe my accounl(s) with Sllcll usual and QJSlllmary ch3rges as you may delelmine lo cover your services and facilities. InclUding, but not limited to, custody, lralUaCtion and iermination fees. In addition, you may ch3fge zn InadMly fee which once c/wged, shalf be nonrefundable. I \\-ill promptly pay sse any daticiency lIlal might arise In my ilCCOlJnl{s). I understand and agree that a finance charge mzy be charge<! on any deblr balance in any casto ilOOOU~11 have wilh sse In ~ordance with the lSrms desaiboo ill the SSB literature prevlOlJ$ly provided lorne and any subsequent nlOdifjcarlof'l!: lI1eretowhichwlll be provided to me. You may transfer excess lundS between any of my aa:ounls (including commodity accounts) for any reason not in contllClllith the Commodlly E'Xctlange Ad or eny olner applicable law. II arrl transactions are effecled on an exc/lange in which a lorelgn currency is used. any profilOf loss 3$ a result of a IIIJCMlion in the exchanqe rate will be ctaerged oc credi!Dd ro my accounl{s). 4. CommuniC3llons fll3Ybe sent to the mailing address on Rle witn you, or al sucIl other address as I may heraafter give in wrilino. and alf comunicarlons so senl wIlelhGI by mail,/elegraDh, JneSS9nger or olherwise. shall bs dgel11ed given to fTl9 personally, wIl9rhar cctual/y received or nOl.lackl1owledgelh.:! the rules of the Seculltles and Exd'.ange Commission require thaI CMain corrvr.Jnicalionsbs saN to me TEther than an agentacling on mybahalll warrantthar \headdress Currently on rlle wlrh you is an address where I personally f9C9ive communicaUons unless il is lIIe address 01 a Qualified cuslodlan as defined ty the S61;LKities and Ext;haflQa Commission, Transactions entm into ror my accounl(s) sh211 bG oonfirmed in writing ro me Wllet'e required by applicable law or rellUlellon. In sddition, SSB shall provide me with periodic slatamenfS reflecting activity In SlJc~ account(s), I aaree /hallTansactions raflected on such confirmations and statemoms shall De condusivsly deemed 3CC1J/'210 as stared unless I nc(1ty sse in writing within thros (3) days and ten (10) d4ys of receipL respacllvely. that the (lI(onnation contained in sul11 conlirmation or statement is inaccurate. Such notice musl be sanr It, me to sse by leIe!jram or letter directed to the attention 01 the Branch Office Mznager of Ihe office sctvIclng the account failure In so nO(lty SSG shall elso preclude me from zssening at any later dcla that such lransaction was unwrhol!ud. I 2111h0(lze you al your diSCfenon 10 ob/ain reports and 10 provide In(ormalion In oll19fs concerning mycredit sl3fJdlng and my business cooduct 'rou mayask crMf[ reporting agcocJes (or consurrer reports oi my credit history. Upon /T1Y reQUfslyou will IlIform me wt1elhcr you ~ave ob13/ned anysucllconsurner reports and if you h3\'l!, you will inloon meotlne name Z11d addrtl!S of the consumtr rejlOrtlng agMcy thaI furnIshed lIle reports to you. S. I h8fllby represent that I am of the age of majorfty, Unless / advise YOll to the contrary, III Iltriting, and provide you wlth a leller 01 approval (rom my employef, where required,l reP/1lSll(ll thai I am not an employee of any exchange, or of any corporation of wniCh any excIlafl(le owns a majorlly 01 tne cap/tal Sloell. or 01 a member of any esctl2(Ille, oc of a membef firm 01 member corporation reqiSlsred on any exchznoe. orol any corporation, firm or individual engaged in !he busin2SS 01 deeling, ei!/ler as a bioket or es prlnclD!l, in seaJrities. bl/ls of exd!znge. a~ceptalUS or 0lIler forms of comfTle(cial papet.1 further represenllhzl no one except those signino thIs agreement has an Inlete<..l in my accounl. II my accounl has been introduced to you and is ~rr;ed by >'Ou only as a clearing bt'oket, I agree th2! you are nol responsible tor lha conduct of the imroducing broker and you~ only responsi- bilities to mt rel<tolo Ihe eX8CUllon. dearino 2nd boold<epirig of tranS2C~Otl$ U1 my accounts. 6. Arbllrallon · Arbllralion is lInaland binding on Iha parties. · The parllll$;lre waiving UleJr rlghllo seek remedies In court,lncfuding Ihe right to Jury trIal. . · Pre.artlllralion dl~coVllry IE oenef1llly mora limited Ill1In and dltferenttrom tourf proceedings. '1l1e a rbltr.lIOrt' award Is nol required to In elude 'actual finding; or legal reasonino, and any party's rlohllo appeal orlo leek modifinllon of rullnos bVthe arblualort I! stricti V IImlled. . The panel of arbUmor; wllllVPically Include a minority 01 arbllrators who were or are affilIated wllh the securillcs Induslry. I agree lhal all claim, or controversies, whelher such claims or controversies 99% P.04 f'lAY. 2. 2002 3: 3tJI-'f1 :=,f'l1 I H jjHKI'It.r .aroIl! prIor. on orcubsequenlto Ihe dale hereol. between me and sse and/orany of Ill; preJenl or rormer olf/cers, directors, 01 employeas collt:e1n'ng or arisIng I' from (i) any accaunt malnlained by me wllh SS8 Individually or Jolnllywllh oihcll . In eny capacIty; (II) any lnIuacllon Involving sse or any pf1ldecenor IIrmI by merger, acquisition or olher bU9lne1S comblnallon and me, whethtr or 1'101 such Iransacllon occurred In such account or accounts; Of 111I)lhe conslructlon, performanco or breach of Ihl, or any olher agreement betweon us, any duty arIsing Irom tho bustnenolSSB or otherwise, shall be delermlned by erbllrallon before, and only before, any nll.regulalory organlza/ion or cxchange of whlcf1 SSB I~ a member. I may ellcl Which ollhese arbitrellon forums shall hear the maner by sending a rl!glstercd lener ortolcgram addroeud 10 Salomon SmIth Bamey Ine. al71 Water Streel, New York. H. Y. 10005. Ann: law Departmenl. II J lall to malc1l such eledlon before the eIplr.lllon of five (5) da~ aller receipt of a 1IIrl\lon requesl Irom SSB 10 make such ol9Ctlon. sse shall have the rlqhlto chool>9 the forum. No pelton shall bring a pulaUve Dr certifIed class action 10 arbllrallon, nor seek 10 enforte any prc-dlspute arbllnllion agreomenl allll/ns! any person who has InItialed In court a putative tlan actIon; or Who is a member 01 a pulallve elau who has nol opled out Df the tfan wIth respect to any claims eru:ompa"ad by the pUJative dass action unUI: (I) Ihe tlau cer1ificallon Is denied; (II) the class is decertlfled; or (IIn the customer Is euluded Irom 1I1e Class by Iho court. Such lorbear.lnce to enlorce an agreement 10 arbitrate Shall nol canstllUle a waIver 01 any rl;hls ander Ihls ag~menlelcept to the ex1en1 sidled herein. 7. The provisiollS O/lIlts Agreemenl shall be continuous, sh.111 ClIVer indi~iduzlly a(ld collec- tively all accounts whict1 I ~ 011911 or reopen with ssa. and s/l!llinure to tha banefit 01 SSS's, IltliSllnT organi14lioll. and ~nys~organi13tion or assigns; and shall be binding upon fTlY hel~, executors. zdminlstTa!OtS, assignsorsucomotS in interest SIlouldanytelmorprovtslon 01 this Aj)reamenl be deemed 01 hold to be iMalid or unenfOICE.1ble. the remalnln9 ~ and provlslOtl$ shall conhnue in fullloree 3I1d effect, ExteP[ lor statutes 01 IIrnlralion applic:zble to cla/fIlS.lhis Agreement and aJl tile lenT\! herein shall be govemtd and construed in accordanca wllh rhe laws 0I1tle SlzJe of Naw York wilhout glvlno e1Ied 10 principles of comlid 01 laws. The, I, statute o/limitlllons applicable to my claim shall be thaI whIch would be applied by the courts 'I' ollhe stale in which I reside. a I understand lhal you may in your solo dls:crelion prohibir or r6SlriCllrading oi sacurlties 01 subsUlution 01 S>9CU11l1es in any 01 my ar:.courts, You hZV2 lhe righl to lermina18 any or my actoonls (includIng rNIliDJe owner ~C:COU/lC;) Z1 any time by noUca to m~. The provisIons 01 this I aQTeeIllfnt stlall surviva 1M tenninzrJon or zny account 9. Your Iailure 10 insisr at any Uma upon strid COOlplklnce wilh any term or [his ~reemenl Dr any delay or Iailure on your pallID exercise my power or right gi~ co you in this Aqreemanl. I or a continued course of such COndllct on your pan shall at no time Opglilt6 as a ov.liver 01 sudl I po,ver or rigl1[. nor smll allY single Of partial exGrClse prccfL(je any OItler (1J(l/1e( erercise. All rights and relMdios g/ven 10 you in this Agr6MIenlareOJmulativeznd no! e:u:lusive otanyOlhet I rights or rerTl8dles which you otheiwlse have. 10. I undetStal1d thar sse shall not txlllable lor loss e<uscd directly or indiredIY by govemment I reslriclioo.\ 6XChange or marXelrullngs, suspension 01 lradl~g, ov.lf, $lrikes or oCher COndilions, commonly known 2S -acts 01 God: beyOnd SSB'$ COOlro!. 1,. From dme to lUre you may al your discrelion. maks loans 10 me lor a purpose other than purchaslro. carrying orttadlng In sccufWes ('Express Credit l?ans'). ~ress Credit l.o3ns will be made ;n a nonsecurllles credit aCCOlln[ ('EYpress Credil Account'). The minimum 3110 maximum amount olany Darticular loan maybe established by you In ytlur discretion regardlCS!: DI the amount 01 eel/a1a1'll1 delivered to you afld you II1ll'I change sut~ minil1lJm ard maximum amounts from dlTl9lO lime. I agree not 10 use me proceeds of any Express Credil t.ozn to purcrose. cany or \l'ade In sCQJrities.1 also agree nollo use Express Credilloan procoods direclly or indirectly 10 repay oIher deIlc ChaC Ilncor lot Ihe purpose 01 purchasing, czrrylfllJ or rrading in secu1tie9. Addlllonal Terms for Mu/llple Party AcclJunts ParaGraphs 12 through 14 apply only 10 multiple party accounts. 12. Illhis is a multiple party account in conslder31ion 01 YOI! .nd your succe~ors carrying a I IIlJltipl8 party aCCOUllion margin or otherwise forthe under&19ned. ead1 o/us ZQmss to be joinlly I and sevmlly liable for sid 3W)Jnl and to p~ on demand any r1tbit oolance or losses ar arrt : . tlme due in this account. Arrt 0/ us nas rull powsr JIld alJlhorily to rr12ks purchms and S2lllS, I induditlQ short sales. 10 withdraw menlos and securities irOlTl. or to do anything oIse wllh reIereoce to our accoun~ ejlher individually Dr in our joinl names, ZJ1d you cnd your SUCCllSSors I att aulhorl28d and direcled 10 act upon instructions recelv9d from any of us and to ~CC8pl paywer4 and seclll'iUes !rOm any 01 us for lha credit oi this GC.."'OIJIll Nolwilhstmding tho aOlliry , of eadl 01 us 10 conlrollhe accoullt IndMdually, we understand and 3Qr!'e tlul you may..u your sole ODdon, require \Mitten instnJCtlons signed by all account owr.er.; when PJYIl\8n!s 01 transfers are requested. Any and all notlC8$. communications, or any demo-nds for mzroln SMI to any of us shall be binding upon all. end may be glviln I1f Imi! or oiller means 01 communlcatlon. We hereby declare lhls aCCOllnl to be 2 joint ronal'CJ with fights oj survivorshIp unless we lJ1S/TUct you 10 eslablish anotll8r 10rm 01 multiple ownershIp by executing ~ lenancy I III COfllIIlon 3greemer<<, ~ni1Y lJ(OP8l1V 3greemcnl partnerShip ~rwnent or olher applicable agreement evidencing rtls desired larm 01 ownership. FDA 3026(1212001) I Psge 4 01 4 M^'_J' n...... _ "")nn""l 1 c; . C::~ 13. Each of us agrees to hold SSB h.armJess Irom 2nd indemnify ssa zgainst any losses. causes or action, darroges and expenses arising Irom or as Ule resulr of SSB 'allowIng [/le inslruclions or eilher 0( arrt or us. SSB, in its sole discretion. may Zl any time suspend all activity In !he mulliple party aCl:ounl perxling inslruC!ionsfrom 2 coun 01 compelenl/lR1sdlction or require tM Instructions pertaining 10 the mulllpla party account or rhe property therein be in wriling signed by bolh or all of us. sse shall be entitled to r~over from Ihe accounl or from a~ or U3 prior 10 distribulion ollila funds or propeny marein such costs as iI may incur. Including rea~1e attorney's let!. <S the r<'5ult 01 any dispute between or among us rrlating 10 or ar1~ing from \lie account 14, Eadl 0/ us 2crees that. in the event oi the dealh 01 either or any 01 us.tha survivor or S\Jf\oivon shall immedi<lely give you wril1an noUce Ihereof. and you may. beforP. Dr after receivi~c such nolico. Iaks such actions. require ~ucl1 pzpers, Inheritance Of CS!3te laX W,livers. relJln such pOlllon of the account .nd res/riet lransadlons in the account as you rmy doom ~dviS2ble 10 prated you against a~ lax. liability, Pllnally or lass under any presenl Dr flf.lJre Ia'~ or othetWise. The 6State 01 eill1er or any of us who shall have died shall 00 liJble and flich survwor shall cortInue liable, jointly and severally. to you for ,](1y nel debir balan~ or loss in S2id account in anyway resulling lrom tho completion 01 transact10ns iniliared pr/OlIO IlIe receipt tJJ you 01 Ule wr/rren nlXice ol/he doalh ollhr decedanL or incurred in the liquidation 01 lh6 awlLlnl or tIlo adjustmenl of \he Interests 0/ Iht respBCIlva parties. If tills accountconC2ins r1ghcs of survivorship. In the evenr of U12 death of eilhcf or any of us, all assets in the aa:OlJri shall pass 10 and be vested in the survivor or survivors on tho same leons and conditions as prevlOllSly held, wil/lou[ In a"l manner reloa~lng rhe decedenl's 8SlJte Crom the liabilities provided for herein. The estate ollhe decedenUs) and the survivors hereby jointly zndseverol/yagrllO to tully indemnify and hOld harmless ssa rrom all liabilityfor allyraxes which .~ ~ owed in connection l/1e(ewilh or any claims by 1l11rd patties, Margin Agraement Paragraphs 15 Ihroullh 17 applv only 10 Margin Accounls 15. You arehmbyzul/lorl29d, wilhoulootice CO me, andwittlOUt regard as bwhothel ornClt)OO have in your possesSion 01 under your control althe Umalhsrrol olher propsny o/the same kind 3I1d amoum, 10 pledge. repledge./lypot/lec.a/e ot retlypornecJte my propeny or any part \hereol. , eilher S9DarateJy Of togtlhet' with other propef\Y 01 OCher clienls. Glther lor !he amoum due)OLl from me or lor a greater sum. 16.1 aQre9 to pay ON DEMAND any balance owfng wilh resped toanyolmyaccounll:.lnduding inlnf8SC md convnissions and any costs of collection (includinc anomeys'lees. if Incurred by you).lundersl3l1d lh21 VOlJ may demand full payment olth~ b21<nca due in my accounc plus any interosl charges acaued Ihlll'9on. at your sole optlo". at any lima withOut c<use and wNJrlter 0( not such demand is made lor your prolfctjon, I understand thaI all lOdns made are nor lor il(\y speciac l8rm or dllT2tion but m due 3nd p;!yabfe at your discr~lion upon a demand I"r paymarn made to me. I agree thai all paymants received for myaccounlfs) including inleres~ dividends. premiums. principal 0( olher paymerts may be appllaa by you 10 ~ny b3lances due in my aCCOL\'lI(s).1/ I maintain both a cas~ and a mugin account w;th you. ~u are aulhori1ed In your dlSl:reOon \0 utililf the equity in eill1er type of accounr in S2lis~lIon 01 any rTl3inlenznce margin requiremenl wittloullh8 ~l /mlsfinlnce 01 fundS or securities between such accounts. Whenever you ct!em II ~ O(zppropriare for your proCllCllon. you us aurhori2ed. in your sole discretion. co sail. assign, lr'dlS16r md deliver all or any P3tl oj my propsny w~ich may be in your oossession or control in any manner you deem appropriate. m~1re a~ necessary purchas8s to cover short salas ana/or any open commodity comraCl positions andlor co cancel zny ourstanding orders in order to close olot Ille 3CC1)unl. Wilhoul limiting Ihe ~Iily 0/ ~ foregoing, such sale. PUI'Cl13Se 0( cancallation may be made, i~ your solo discretion. on fh8 excllange or olhcr market where such busitlC"..5 is then usually 1l3nsacled. ;,t oubfic auction or at private sale will10ut advertising lhe same. All oj the abovA may be done w11/l0lll demznd lor margin or noticeof purchzse, sale Dr cancellalion 10 me. No dam3nd lor margin. or notice given to me 01 intent CO DUrchase or sell property or 10 caral orders in my ct:our>l, sh211 im~e on you any obligarlon CO make sum d&rn2nd or provide suCl1 nO/iet 10 me, Any such noo~ or demaro is hereby expressly W2/vod. and no specific demand 0( notice smlllnvalida/e this W2ivGr. Anar dedudil1(llll COSls and expenses or Ihe purc/lasr and/~ S41, and deljv~rias, includlno. but nor limited [0. commissions dnd \l'ansfrr and stamp i~S. you sh:311 apply lhe residue 01 the Pfoce&ds to the payment of any.1ncl al/ or my liabilities to you. lJ1d I s/12]/ remain liable for Jny deliciency. Upon 2ny SUCll sale. you may purchase the v.oolo or any pari ~reor (roe rlom any right 01 redempllon.ln the event oi my dealh 0( incollljJarency. [he authority glvan by this F'l!lllgraphs/lall conQn~ eileclive and shell be binding upon my petSonal represenlaUves and heirs. 17. I will at aU times malnrain sum mzroln lor my accourrt maintCilned by SS8. as sse may requirt Irom dlNllo lime. and arrt debit balances arisino In such aCC1)unl shall be Charged i~leresl in accordance with !he lemts deSC(1bea in Il1e sse IItllrarura previously prov!dAd 10 me and any subseqU9nl modifications Itmelo which will be prO\lidcd 10 m9. f am aware It.:!l Inl!rest charges, il not paid. wlll be added to the d9!l11 balance in my zccoUn! let (~~ net! inletesl Wlod. , am aware and aorea lhat you may impDSa. ror my account(s). margin reqlliremenlS more srrinqent than l!loSo reoulred by lav/or eW1ZnQ6 reoul31ions. Ilurthet"underSlancl and agft! lhar such margin reQUirements may be ctl.1nged lnd modmed by you irom tima 10 tln'lB wilhoit prior notice 10 me. I tunher' zgrealhat 3I1ywaiver by ~'OIJ orfa:lure to promptlyenlorC9, 3S 10 my accoort or !hat 01 0111efs. such maroin reauirements shzll Mf in ~ny vn.y prP.\tP.f'lI Y1ulrom $ubtequonUy enforcing said margfn ruoulremenLS \'Jim regard l/) my accounL 99% P.05 Resolution 2002-20 Be it resolved that: Louise C. Frangoul, Finance Director and Ronald W. McLemore, City Manager are hereby authorized to sell, assign and endorse for transfer, certificates representing stocks, bonds, or other securities now registered or hereafter registered in the name of this municipality in accordance with the City of Winter Springs Investment Policy. I, Paul P. Partyka, Mayor of the City of Winter Springs, Florida hereby certify that the foregoing is a true copy of a resolution duly adopted by the City Commission of the City of Winter Springs, at' a meeting duly held on the 13th of May, 2002 at which a quorum was present and voting and that the same has not been repeated or amended and remains in full force and effect and does not conflict with the Charter of the City of Winter Springs. / ' City of Winter Springs PauIP.Partyka,11ayor City of Winter Springs, Florida Attest: Andrea Lorenzo-Luaces, City Clerk City of Winter Springs, Florida " r'lA'I. 2 . 2002 3: 39pr1 <!' - ~ - St1ITH BARt~EY t~O . 870 P.6 :l. .::> ~ ~ - ..)-..0::>0 Resolution Naming Authorized Offfcers (AssDciatlon Dr other Non-corporate Organization) SALOMON SMITH BARNEY Amemberof crtlgroupj I Pleal1e read carefully, sign and return to Salomon Smith Barney Inc. New Accounc: Ollpartmel1t 3.93 West 34lh Sueer ,New York. NY 10001 r::counl'UmDer Bm~eh, I~unl [IJ rc ,Be it resolved that: 11. Name(s) and i TIlIe(sl of 01flcer(sl is hereby authorized to sell, assign and endorse for transfer, certificates representing stocks, bonds. or other securities now registered or hereafter :registered in the name of this 2. Type of OIQanization , . 3. I Name aM Title oi Offlcnr I , 4t. of Name 01 OrganiZlllion I (the "Organization") , /1ereby certIfy that the foregoing is a true copy of a resolution duly adopted by the ~_ Name of Governing , Body oi the Organlzallon I IDf the Organization, at a meeting duly held an the day of at which a Quorum was present and voting and that the same has not been repealed or amended and remains in full force and effect and does nat conNie! ~ith the Name of Docum~nt under whiCh OrganizatIon Is Operating of the Organization. THIS DOCUMENT MUST BE SIGNED IN THE PRESENCE OF A NOTARY PUBLIC Dale (SEAL) (If "I) seal certify that lhsre is no seal) SECRETARY'S (or a/her elte5t1ng oHlclal's) SIGNATURE Must be signed by ofllclal(s) olller than Ihe In"ivhfual(s) IIll$lgnate" in m:tJon 1. I Subscribed and Sworn to Before me this day of NOTARY PUBLIC (Affix Seal) 5277 (4,12000) I CPI 52771 111I11111II1111~ IIIIIIIIIII~ . 5 2 ., ., . M'.....'.'_",-._ ~nn-., 1 c:: ~ c:-~ qqy P.06