HomeMy WebLinkAboutResolution 2009-32 Bank of America SignatoriesRESOLUTION NO. 2009-32
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
WINTER SPRINGS FLORIDA, REPEALING RESOLUTION 2009-11,
REAUTHORIZING THE MAINTAINING OF 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 maintain
accounts with Bank of America and designate the City Manager, Interim Finance Director, and
Public Works/Utility Director 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 by this reference.
Section 2. Reauthorizing The Bank of America as an Authorized Depository. The City
Commission hereby reauthorizes The Bank of America as a designated depository of the City of
Winter Springs and that deposit accounts and/or time deposits (CD's) maybe 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 Kevin L. Smith, City Manager and Kipton Lockcuff, Public Works/Utilities 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 Public Works/Utilities Director are not available, Kelly Balagia,
Interim Finance Director, shall be a duly authorized representative during said emergency and
unavailability. The designated representatives are hereby authorized, on behalf ofthe 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 Bank of America, to open
said accounts, to withdraw funds from or transmit funds to any account of 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. All authorization permitted by this Resolution shall require the dual
City of Winter Springs
Resolution 2009-32
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signature of the City Manager and Public Works/Utilities Director, and in the case of emergency and
unavailability as stated above, the Interim Finance 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 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 6. Repeal of Prior Inconsistent Resolutions. All prior resolutions or parts of
resolutions in conflict herewith, including but not limited to Resolution 2009-11, 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 the City Commission of the City of Winter Springs, Florida, in a regular
meeting assembled on the 11th day of May , 2009. /&K--
J N F. BUSH, Mayor
ATTEST:
r
A A LORENZO-LUACES, City Clerk
Approved as to legal form and sufficiency for
the City of Winter Springs only:
ANTHONY A. GARGANESE, City Attorney
City of Winter Springs
Resolution 2009-32
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