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HomeMy WebLinkAbout2019 03 25 Consent 303 Resolutions 2019-02, 2019-03, 2019-04 Bank Authorizations COMMISSION AGENDA Informational Consent X ITEM 303 public Hearings g Regular March 25, 2019 KS SB Regular Meeting City Manager Department REQUEST: Finance and Administrative Services Department is requesting the Commission approve Resolutions 2019-02, 2019-03, and 2019-04 designating the Interim City Manager, Interim Finance Director and Public Works Director as authorized representatives to execute documentation required by 5/3rd and Regions Bank on behalf of the City of Winter Springs. SYNOPSIS: The purpose of this Agenda Item is to approve Resolutions 2019-02, 2019-03, and 2019-04 - resolution that designates the City's authorized representatives to execute documentation with 5/3rd and Regions Bank. CONSIDERATIONS: Resolutions 2019-02, 2019-03, and 2019-04 have been prepared to authorize the Interim City Manager, Shawn Boyle and the Interim Finance Director Kelly Balagia, as authorized representatives to execute documentation required by 5/3rd and Regions Bank on behalf of the City of Winter Springs. Due to the dual signatory requirement, Lena Rivera, Public Works Director, is designated as the third representative only in the event of an emergency whereby the Interim City Manager or the Interim Finance Director is unavailable to duly execute needed documents. Previously, this third signatory was Brian Fields and is now being replaced with Lena Rivera. Resolution 2019-02 is for the general operating and payroll checking accounts. Resolution 2019-03 is for the general operating and water/sewer refunding bond accounts. Resolution 2019-04 is for the City's retirement fund. Consent 303 PAGE 1 OF 2- March 25,2019 FISCAL IMPACT: There is no financial impact related to 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 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 six (6) 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. Applicable custody agreement and resolution will be sent to 5/3rd and Regions Bank. RECOMMENDATION: Staff recommends that the Commission approve Resolutions 2019-02, 2019-03, and 2019- 04 which designates the authorized representatives to execute documentation with 5/3rd and Regions Bank. ATTACHMENTS: Resolution 2019-02 through 2019-04 Consent 303 PAGE 2 OF 2- March 25,2019 RESOLUTION NO. 2019-02 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF WINTER SPRINGS, FLORIDA, REAUTHORIZING THE OPENING AND MAINTAINING OF DEPOSIT ACCOUNTS AND SERVICES WITH THE FIFTH THIRD BANK; PROVIDING FOR SEVERABILITY, REPEAL OF PRIOR INCONSISTENT RESOLUTIONS, AND AN EFFECTIVE DATE. WHEREAS , the City Commission desires to authorize the Interim City Manager to maintain accounts with The Fifth Third Bank and designate the Interim City Manager, Interim Finance Director, and Public Works Director as authorized representatives to execute documentation required by The 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.Reauthorizing The Fifth Third Bank as an Authorized Depository. The City Commission hereby reauthorizes The Fifth Third Bank as a designated depository of opened and maintained in the name of the City of Winter Springs with The Fifth Third sit 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 Interim City Manager. Section 3.Designation of Authorized Representatives . The City Commission hereby designates Shawn D. Boyle, Interim City Manager, and Kelly A. Balagia, Interim Finance Director, as the authorized representatives of the City of Winter Springs, Florida. In the event of an emergency in which either the Interim City Manager or Interim Finance Director are not available, Lena Rivera, Public Works 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 The 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 the Interim City Manager. All authorizations permitted by this Resolution shall require the dual signature of the Interim City Manager and Interim ÆY£ø¬Ãª†”—”êА Ɛ£±k†Ã£ª243+®42 ÉÐ3£ø2 Finance Director, and in the case of emergency and unavailability as stated above, the Public Works 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 the The Fifth Third Bank is concerned until such time as The 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 The Fifth Third Bank. Section 6. 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 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. th Section 8. Effective Date . This Resolution shall become effective April 8, 2019. RESOLVED by the City Commission of the City of Winter Springs, Florida, in a regular th meeting assembled on the 25 day of March, 2019. ___________________________________ 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  ÆY£ø¬Ãª†”—”êА Ɛ£±k†Ã£ª243+®42 ÉÐ2£ø2 RESOLUTION NO. 2019-03 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF WINTER SPRINGS, FLORIDA, REAUTHORIZING THE MAINTAINING OF DEPOSIT ACCOUNTS AND SERVICES WITH REGIONS BANK; PROVIDING FOR SEVERABILITY, REPEAL OF PRIOR INCONSISTENT RESOLUTIONS, AND AN EFFECTIVE DATE. WHEREAS , the City Commission desires to authorize the Interim City Manager to maintain accounts with Regions Bank and designate the Interim City Manager, Interim Finance Director, and Public Works Director as authorized representatives to execute documentation required by Regions 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 1Incorporation of Recitals. . The foregoing recitals are deemed true and correct and are hereby fully incorporated by this reference. Section 2.Reauthorizing Regions Bank as an Authorized Depository. The City Commission hereby reauthorizes Regions Bank as a designated depository of the City of Winter Springs and that investments may be maintained according to the City of Winter Springs formal investment policy adopted by the City Commission, and in accordance and regulations for such accounts. Said agreements, disclosures and applicable rules and regulations shall be subject to prior approval by the Interim City Manager. Section 3.Designation of Authorized Representatives . The City Commission hereby designates Shawn D. Boyle, Interim City Manager, and Kelly A. Balagia, Interim Finance Director, as the authorized representatives of the City of Winter Springs, Florida. In the event of an emergency in which either the Interim City Manager or Interim Finance Director are not available, Lena Rivera, Public Works 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 Regions Bank, to open said accounts, to withdraw funds from or transmit funds to any account of Regions Bank, to establish funds transfer instructions, and to take any other action pursuant to any deposit agreements approved by the Interim City Manager. All authorizations permitted by this Resolution shall require the dual signature of the Interim City Manager and Interim Finance Director, and in the case of emergency and unavailability as stated above, the Public Works Director. ÆY£ø¬Ãª†”—”êА Ɛ£±k†Ã£ª243+®41 ÉÐ3£ø2 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 the Regions Bank is concerned until such time as Regions 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 Regions Bank. Section 6.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 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. th Section 8.Effective Date . This Resolution shall become effective April 8 2019. RESOLVED by the City Commission of the City of Winter Springs, Florida, in a regular meeting assembled on the 25th day of March, 2019. ___________________________________ 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  ÆY£ø¬Ãª†”—”êА Ɛ£±k†Ã£ª243+®41 ÉÐ2£ø2 RESOLUTION NO. 2019-04 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF WINTER SPRINGS, FLORIDA, REAUTHORIZING THE OPENING AND MAINTAINING OF CUSTODY DEPOSIT ACCOUNTS AND SERVICES WITH THE FIFTH THIRD BANK RELATED TO THE CITY OF WINTER SPRINGS RETIREMENT FUND; PROVIDING FOR SEVERABILITY, REPEAL OF PRIOR INCONSISTENT RESOLUTIONS, AND AN EFFECTIVE DATE. WHEREAS , the City Commission desires to authorize the Interim City Manager to establish and maintain accounts with The Fifth Third Bank and designate the Interim City Manager and Interim Finance Director, as authorized representatives to execute documentation required by The Fifth Third Bank from time to time ; and WHEREAS, the City Commission also desires to designate the Public Works Director as an authorized representative in the event of emergencies when the Interim City Manager or Interim Finance Director are 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.Reauthorizing The Fifth Third Bank as an Authorized Depository. The City Commission hereby reauthorizes The Fifth Third Bank as a designated depository of the City of Winter Springs and that custody accounts may be opened and maintained in the name of the City of Winter Springs with The Fifth Third Bank in accordance with the custodial service agreements 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 Interim City Manager. Section 3.Designation of Authorized Representatives . The City Commission hereby designates Shawn D. Boyle, Interim City Manager, and Kelly A. Balagia, Interim Finance Director, as the authorized representatives of the City of Winter Springs, Florida. 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 The 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 ÆY£ø¬Ãª†”—”êА Ɛ£±k†Ã£ª243+®40 ÉÐ3£ø2 other action pursuant to any deposit agreements approved by the Interim City Manager. In the event of an emergency in which either the Interim City Manager or Interim Finance Director are not available, Lena Rivera, Public Works Director, shall be a duly authorized representative during said emergency and unavailability. All authorization permitted by this Resolution shall require the dual signature of the Interim City Manager and Interim Finance Director, and in the case of emergency and unavailability as stated above, the Public Works 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 The Fifth Third Bank is concerned until such time as The 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 The Fifth Third Bank. . Section 6. 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 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. th Section 8. Effective Date . This Resolution shall become effective on April 8, 2019. RESOLVED by the City Commission of the City of Winter Springs, Florida, in a regular th meeting assembled on the 25 day of March, 2019. ___________________________________ 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 ÆY£ø¬Ãª†”—”êА Ɛ£±k†Ã£ª243+®40 ÉÐ2£ø2