HomeMy WebLinkAboutResolution 2007-42 Fifth Third Bank
RESOLUTION NO. 2007-42
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF WINTER
SPRINGS, FLORIDA, AUTHORIZING OPENING AND MAINTAINING
CUSTODY DEPOSIT ACCOUNTS AND SERVICES WITH THE FIFTH
THIRD BANK RELATED TO THE CITY OF WINTER SPRINGS
RETIREMENT FUND; PROVIDING FOR SEVERABILITY, REPEAL OF
PRIOR INCONSISTENT RESOLUTIONS, AND AN EFFECTIVE DATE.
WHEREAS, the City Commission, as the trustees of the City's retirement plan, desires to
authorize the City Manager to establish and maintain accounts with The Fifth Third Bank, an Ohio
Corporation and designate the City Manager and Finance Director as authorized representatives to
execute documentation required by The Fifth Third Bank from time to time related to the City's
retirement fund; and
WHEREAS, the City Commission also desires to designate the Public Works/Utilities
Director as an authorized representative in the event of emergencies when the City Manager or
Finance Director are not available; 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 Fifth Third Bank is hereby designated as a depository
ofthe City of Winter Springs and that custody accounts may be opened and maintained in the name
of the City of Winter Springs with The Fifth Third Bank in accordance with the terms of the Bank's
custodial service agreements 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, and Michelle Greco, Finance Director, as the
authorized representatives of the City of Winter Springs, Florida. 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 The Fifth Third Bank to open said accounts, to withdraw funds from or
transmit funds to any account at The Fifth Third Bank, to establish funds transfer instructions, and
City of Winter Springs
Resolution 2007-42
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to take any other action pursuant to any deposit agreements approved by the City Manager. In the
event of an emergency in which either the City Manager or Finance Director are not available,
Kipton Lockcuff, Public W orkslUtility Director, shall be a duly authorized representative during said
emergency and unavailability. All authorization 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 Public WorkslUtility 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 Fifth Third Bank is
concerned until such time as The Fifth Third Bank is notified in writing of the revocation of such
authority by the City Commission. Further, The Fifth Third Bank is authorized to rely on this
resolution until written notice of change is sent by resolution of the City Commission.
Section 5. Certification. The City Clerk is hereby authorized and directed to certify this
Resolution to The Fifth Third 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 immediately upon adoption
by the City Commission of the City of Winter Springs, Florida.
RESOLVED by th~ City commis~n of the. City of Winter Springs, Florida, in a regular
meeting assembled on the :Jt.jHl day of, 'LJl-enLiJk.V ,2007.
7~_
ATTEST:
Approved as to legal form and sufficiency for
the City of Winter Springs only:
~
ANTHONY A. GARGANE~, City Attorney
City of Winter Springs
Resolution 2007-42
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