HomeMy WebLinkAboutResolution 2002-02 Bank of America
RESOLUTION NO. 2002-02
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
WINTER SPRINGS, FLORIDA, AUTHORIZING OPENING AND
MAINTAINING DEPOSIT ACCOUNTS AND SERVICES WITH THE BANK
OF AMERICA; PROVIDING FOR SEVERABILITY, REPEAL OF PRIOR
INCONSISTENT RESOLUTIONS, AND AN EFFECTIVE DATE.
WHEREAS, the City Commission desires to authorize the City Manager to establish and
maintain accounts with Bank of America and designate the City Manager, Finance Director and
the City Treasurer as authorized representatives to execute documentation required by Bank of
America 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 herein by this reference.
Section 2. Authorized Depository. The Bank of America is hereby designated as a
depository of the City of Winter Springs and that deposit accounts and/or time deposits (CD's)
may be opened and maintained in the name of the City of Winter Springs with the Bank of
America 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 Ronald W. McLemore, City Manager, Louise Frangoul, Finance Director, and Iris
Freeman, City Treasurer, as the authorized representatives of the City of Winter Springs. The
designated representatives are hereby authorized, on behalf of the City of Winter Springs and in
its name, to execute and to sign any application, deposit agreement, signature card and any other
documentation required by the Bank of America to open said accounts, to withdraw funds from
or transmit funds to any account at the Bank of America, to establish funds transfer instructions,
and to take any other action pursuant to any deposit agreements approved by the City Manager.
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 Bank of America is
concerned until such time as the Bank of America 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 the Bank of America.
Section 4. Repeal of Prior Inconsistent Resolutions. All prior Resolutions or parts of
Resolutions in conflict herewith are hereby repealed to the extent of the conflict.
SectionS. Severability. Ifany 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 6. Effective Date. This Resolution shall become effective immediately upon adoption
by the City Commission of the City of Winter Springs, Florida.
RESOLVED by the City Commission of the City of Winter Springs, Florida, i::} a regular
meeting assembled on the 11th day of February , 2002.
PAUL P. PARTYKA, Mayor
ATTEST:
ANDREA LORENZO-LUACES, City Clerk