HomeMy WebLinkAboutResolution 2022-24 Reauthorizing accounts with Regions Bank RESOLUTION NO. 2022-24
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, Director of
Finance, and Deputy City Manager 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 Scott E. Borror, Director of Finance, as
the authorized representatives of the City of Winter Springs, Florida. In the event of an
emergency in which either the City Manager or Director of Finance are not available,
Casey E. Howard, Deputy City Manager, 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
of the City Manager and Director of Finance.
City of Winter Springs
Resolution 2022-24
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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 September 27th 2022.
RESOLVED by the City Commission of the City of Winter Springs, Florida, in a
regular meeting assembled on the 26th day of September, 2022.
Kevin McCann, Mayor
ATTEST: T •°,�'RiNrB .
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CHRISTIAN GOWAN, City Clerk r ivy v, a
Approved as to legal form and sufficiency for '. NGLE
the City of Winter Springs only:
ANTHONY A. GARGANESE, City Attorney
City of Winter Springs
Resolution 2022-24
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