HomeMy WebLinkAboutResolution 2004-01 Bank of America
RESOLUTION NO. 2004-01
A RESOLUTION OF THE CITY COMMISSION OFTHE 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 and City Controller as
authorized representatives to execute documentation required by Bank of America from time to time;
and
WHEREAS, the City Commission ofthe 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
ofthe 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 Ronald W. McLemore, City Manager, and Judith A. Cooper, City Controller, 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, 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 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. All authorization
permitted by this Resolution shall require the dual signature of the City Manager and City Controller.
City of Winter Springs
Resolution 2004-01
Page 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 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 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.
RESOL VED by the City Commission of the City of Winter Springs, Florida, in a regular
meeting assembled on the 12th day of January ,2004.
JOHN F. BUSH, Mayor
ATTEST:
ANDREA 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 2004-01
Page 2 of 2