HomeMy WebLinkAboutResolution 2020-10 Regions Bank Reauthorizing RESOLUTION NO. 2020-10
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 City Manager to
maintain accounts with Regions Bank and designate the City Manager, IT and
Administrative Services Director, and Community Development 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 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 Shawn D. Boyle, City Manager, and Casey E. Howard, IT 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 IT and Administrative
Services Director are not available, Christopher J. Schmidt, Community Development
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 City
Manager. All authorizations permitted by this Resolution shall require the dual signature
City of Winter Springs
Resolution 2020-10
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of the City Manager and IT and Administrative Services Director, and in the case of
emergency and unavailability as stated above, the Community Development 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 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.
Section 8. Effective Date. This Resolution shall become effective June 27th 2020.
RESOLVED by the City Commission of the City of Winter Springs, Florida, in a regular
meeting assembled on the 8th day of June, 2020.
Cha es Lacey, ayo "
ATTEST:
CRRISTIAN GOWAN, Interim City Clerk
Approved ' to legal form and sufficiency for
the Cit ed/ inter Springs only:
d
ANTHONY GARGANESE, City Attorney
City of Winter Springs
Resolution 2020-10
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