HomeMy WebLinkAboutResolution 2024-39 Reauthorizing the Maintaining of Deposit Accounts and Services with Regions BankRESOLUTION N0. 2024-J9
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, Finance Director, and
Operations 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 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 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 Finance Director and in
the case of emergency and unavailability as stated above, the Operations Director.
City of Winter Springs
Resolution No. 2024-39
Pa0e 1 of 2
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 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 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 day ofyPzem &0� , 2024.
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.2024-39
Page 2 of 2
V cCANN, Mayor
W1tJT��+ o
. ? rn
195� v
COW�'