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2014 05 12 Consent 307 Bank Signature COMMISSION AGENDA Informational Consent X ITEM 307 public Hearings g Regular May 12, 2014 KS SB Regular Meeting City Manager Department REQUEST: The Finance Department requesting the Commission approve Resolution 2014-08 designating the City Manager and the Finance Director as authorized representatives to execute documentation required by 5/3rd Bank on behalf of the City of Winter Springs. SYNOPSIS: The purpose of this Agenda Item is to approve Resolution 2014-08— a resolution that designates the City's representatives authorized to execute documentation with 5/3rd Bank . CONSIDERATIONS: Resolution 2014-08 has been prepared to authorize the City Manager and the Finance Director as authorized representatives to execute documentation required by 5/3rd Bank 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. FISCAL IMPACT: There is no fiscal impact of this agenda item. COMMUNICATION EFFORTS: This Agenda Item has been electronically forwarded to the Mayor and City Commission, City Manager, City Attorney/Staff, and is available on the City's Website, LaserFiche, and Consent 307 PAGE 1 OF 2-May 12,2014 the City's Server. Additionally, portions of this Agenda Item are typed verbatim on the respective Meeting Agenda which has also been electronically forwarded to the individuals noted above, and which is also available on the City's Website, LaserFiche, and the City's Server; has been sent to applicable City Staff, Media/Press Representatives who have requested Agendas/Agenda Item information, Homeowner's Associations/Representatives on file with the City, and all individuals who have requested such information. This information has also been posted outside City Hall, posted inside City Hall with additional copies available for the General Public, and posted at five (5) different locations around the City. Furthermore, this information is also available to any individual requestors. City Staff is always willing to discuss this Agenda Item or any Agenda Item with any interested individuals. RECOMMENDATION: The Finance Department recommends that the Commission approve Resolution 2014-08, which designates the authorized representatives to execute documentation with 5/3rd Bank. ATTACHMENTS: Resolution 2014-08 Consent 307 PAGE 2 OF 2-May 12,2014 RESOLUTION NO. 2014-08 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF WINTER SPRINGS FLORIDA, REPEALING RESOLUTION 2010-14, AUTHORIZING THE MAINTAINING OF DEPOSIT ACCOUNTS AND SERVICES WITH FIFTH THIRD BANK; PROVIDING FOR SEVERABILITY, REPEAL OF PRIOR INCONSISTENT RESOLUTIONS, AND AN EFFECTIVE DATE. WHEREAS, the City Commission desires to authorize the City Manager to maintain accounts with Fifth Third Bank and designate the City Manager, Finance and Administrative Services Director, and Public Works/Utility Director as authorized representatives to execute documentation required by Fifth Third Bank from time to time; 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.Authorizing Fifth Third Bank as an Authorized Depository. The City Commission hereby authorizes as a designated depository of the City of Winter Springs and that deposit accounts and/or time deposits (CDs) may be opened and maintained in the name of the City of Winter Springs with Fifth Third Bank in accordance with the terms of the Banks deposit agreement and disclosures and the applicable rules and regulations for such accounts. Said agreements, disclosures and applicable rules and regulations shall be subject to prior approval by the City Manager. Section 3. Designation of Authorized Representatives. The City Commission hereby designates Kevin L. Smith, City Manager and Shawn Boyle, Finance and Administrative Services Director, as the authorized representatives of the City of Winter Springs, Florida. In the event of an emergency in which either the City Manager or Finance and Administrative Services Director are not available, Kipton Lockcuff, Public Works/Utilities Director, shall be a duly authorized representative during said emergency and unavailability. 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 dual signatories, any application, deposit agreement, signature card and any other documentation required by Fifth Third Bank, to open said accounts, to withdraw funds from or transmit funds to any account of the Fifth Third Bank, to establish funds transfer instructions, and to take any other action pursuant to any deposit agreements approved by City of Winter Springs Resolution 2014-08 Page 1 of 2 the City Manager. All authorization permitted by this Resolution shall require the dual signature of the City Manager and Finance and Administrative Services Director, and in the case of emergency and unavailability as stated above, the Public Works/Utilities Director. Section 4. Duration. This resolution shall remain in full force and effect and the authority herein given to all of said persons shall remain irrevocable as far as Fifth Third Bank is concerned until such time as Fifth Third Bank is notified in writing of the revocation of such authority by the City Commission. Section 5. Certification. The City Clerk is hereby authorized and directed to certify this Resolution to Fifth Third Bank. Section 6. Repeal of Prior Inconsistent Resolutions. All prior resolutions or parts of resolutions in conflict herewith, including but not limited to Resolution 2010-14, are hereby repealed to the extent of the conflict. Section 7. 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 8. 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 __________, 2014. ___________________________________ CHARLES LACEY, 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 2014-08 Page 2 of 2