HomeMy WebLinkAboutResolution 2024-41 Reauthorizing the Maintaining of Deposit Accounts and Services with FL PalmRESOLUTION NO. 2024-41
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
WINTER SPRINGS, FLORIDA, REAUTHORIZING THE MAINTAINING
OF DEPOSIT ACCOUNTS AND SERVICES WITH FL PALM; 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, Finance Director, and
Operations Director as authorized representatives to execute documentation required by FL
PALM 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 FL PALM as an Authorized Depository. The City Commission
hereby reauthorizes FL PALM 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 Banlc'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 Cornrnission
hereby designates Kevin Sweet, City Manager, and Holly Queen, Finance 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 Finance Director are not available, Brian Dunigan, Operations
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 FL PALM, to open said accounts, to
withdraw funds from or transmit funds to any account of FL PALM, 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 Finance Director and in the case of emergency and
unavailability as stated above, the Operations Director.
City of Winter Springs
Resolution No. 2024-41
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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 FL PALM is concerned until
such time as FL PALM 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 Resolution. 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 Resolutions 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 December 16, 2024.
RESOLVED by the City Commission of the City of Winter Springs, Florida, in a regular meeting
assembled on the 61day of 320240
r
KEVIN
ATTEST:
CHRISTIAN GOWAN, City Clerk
Approved as to legal form and sufficiency for
the City of Winter Springs only:
City of Winter Springs
Resolution No. 2024-41
Mayor
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