HomeMy WebLinkAboutResolution 2009-33 Fifth Third Bank SignatoriesRESOLUTION NO. 2009-33
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF WINTER
SPRINGS, FLORIDA, REPEALING RESOLUTION 2009-12, REAUTHORIZING
THE OPENING AND MAINTAINING OF 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 Public Works/Utilities 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 Interim Finance Director as an
authorized representative in the event of emergencies when the City Manager or Public Works/Utilities
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. Reauthorizing The Fifth Third Bank as an Authorized Depository. The City
Commission hereby reauthorizes the Fifth Third Bank as a designated depository of the 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
Kevin L. Smith, City Manager, and Kipton Lockcuff, Public Works/Utilities 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 to take any other action
pursuant to any deposit agreements approved by the City Manager. In the event of an emergency in
City of Winter Springs
Resolution 2009-33
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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. All authorization permitted by this Resolution shall require the dual 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 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, including but not limited to Resolution 2009-12, 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 11 th day of May , 2
John if. Bush, Mayor
ATTkST:
DACES, City Clerk
Approved to legal form and sufficiency for
the Ci of inter Springs only:
ANTHONY A. GARGANESE, City Attorney
City of Winter Springs
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