HomeMy WebLinkAboutResolution 2019-03 Regions Bank Deposit Account Authorization (2) RESOLUTION NOK . 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 1. Incorporation 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
with the terms of the Bank's deposit agreement and disclosures and the applicable rules
and regullations for such accounts. Said agreements, disclosures and applicable rules
and regullations 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 Regiions 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.
City of winter Springs
Resolution 2019-03
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Section 4. Duration. This resolution shall remain in full force and effect and the authority
herein given to alll of said persons shall remain irrevocabie 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. Repeat 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 juriscliction, such portion shall be deemed a separate, distinct and inidlependent
provision and such holding shall not affect the validity of the remaining portion hereto.,
Section 8. Effective Date. This Resolution shall become effective April Wh 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,
Char es Cadby, May
ATTEST:
tt)RENZO-LUACES, City Clerk
Approved as to legal form and sufficiency for
the City of Winter Springs only:
ANTHOW A. GARGANESE, City Attorney
City of Winter Springs
Resolution 2019-03
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