HomeMy WebLinkAboutResolution 2019-02 Fifth Third Bank Deposit Account Authorization (2) 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 foregoingi 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 deposit accounts and/or time deposits (CD's) may be
opened and maintained in the name of the City of Winter Springs with The Fifth Third
Bank in accordance with the terms of the Bank's 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 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 Ibe 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
City of Winter Springs
Resolution 2019-02
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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, subsectiion, 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 April 8th, 20119.
RESOLVED by the City Commission of the City of Winter Springs, Florida, in a regular
meeting assembled on, the 25th day of March, 2019.
Chanes( 'c"e`y','rVYay'o'r
ATTEST:
-LUACES, City Clerk
Approved as to legal form and sufficiency for
the City, f Winter Springs, only:
o
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ANTHONY A. GARGAN ESE, City Attorney
City of Winter Springs
Resolution 2019-02
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