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Home My WebLink About2002 01 14 Consent Item D Resolution 2002-02 Maintain Accounts with Bank of America COMMISSION AGENDA ITEM D CONSENT XX INFORMATIONAL PUBLIC HEARING REGULAR .T:m1l9ry 14,2002 Meeting MGR ~EPT ~. A nthori zati on REQUEST: The Finance Department requesting the Commission approve Resolution 2002-02 which authorizes the City to establish and maintain accounts with Bank of America and designates the City Manager, Finance Director and the City Treasurer as authorized representatives to execute documentation required by the bank. PURPOSE: The purpose of this Agenda Item is to approve Resolution 2002-02 - a resolution that authorizes the City to bank with Bank of America. CONSIDERATIONS: The bank said they do not currently have a resolution on file that authorizes the City to bank with them. FUNDING: N/A ATTACHMENTS: Resolution 2002-02 RECOMMENDATION: The Finance Department recommends that the Commission approve Resolution 2002-02 which authorizes the City to bank with Bank of America and designates authorized representatives to execute documentation with the bank. COMMISSION ACTION: P-..e.. .~ (;> \ \oJ -\- \ g....... aDo a.... -0 ~ BankofAmerica .. BANK OF AMERICA, N.A, <THE "BANK") Certified Copy of Unincorporated Association Resolutions - Opening and Maintaining Deposit Accounts and Services Name of Unincorporated Association City of Winter Springs I, the undersigned, hereby certify to Bank of America , that I am the Secretary/Assistant Secretary and the designated keeper of the records and minutes of City of Winter Springs ,an unincorporated association whose principal address is in the State of Florida (the "Association"); that I have full authority to manage, represent, sign for and bind the Association, that the following is a true copy of resolutions duly adopted by the governing body of said Association at a meeting duly held on the day of , at which a quorum was present and acted throughout or adopted by the unanimous written consent of the governing body; and that such resolutions are in full force and effect and have not been amended or rescinded, , 1. Resolved, that Bank of America (the "Bank") is hereby designated as a depository of the Association and that deposit accounts and/or time deposits (CDs) be opened and maintained in the name of this Association with the Bank in accordance with the terms of the Bank'" Deposit Agreement and Disclosures and the applicable rules and regulations for such accounts; that anyone of the following Authorized Representatives of this Association: R '.7'-"'" r <-- \.-~"""" (--c- Name ('V"\ ~ "i ~.r- \...... =..J\' ........... ;:::. 0.- S p~ \ 1= ,,.-....e...~ ~ e.... O.~-c:::.. c:-L- ,- Name Title ~_r<., Name Title C ~-h.. / -r r c-a.... S '-' r ~ ~ ~.re- ~.~ Name Title is hereby authorized, on behalf of this Association and in its name, to execute and to sign any application, deposit agreement, signature card and any other documentation required by the Bank to open said accounts; to sign checks, drafts, notes, bills of exchange, acceptances, time deposits (CDs) or other orders for payment of money; to endorse checks, dr'afts, notes, bills, time deposits (CDs) or other instruments owned or held hy this Association for deposit with Bank or for collection or discount by the Bank; to accept drafts, acceptances, and other instruments payable at the Bank; to place orders with the Bank for the purchase and sale of foreign cw'rencies on behalf of this Association; to execute and deliver an electronic fund transfers agreement and to make transfers or withdrawals by electronic transfer on behalf of the Association; to obtain an access device (including but not limited to a card, code, or other means of access to the Association's accounts) that may be used for the pw'pose of initiating electronic fund transfers [Association agrees and acknowledges that neitherthe Elect,'onic Funds Transfer Act (15 U,S,C. 1693 et seq,) nor Regulation E (12 C,F,R Part 205) are applicable to any such access device]; to establish and maintain a night deposit relationship; to execute and deliver a wire transfer agreement and to request, or to appoint or delegate from time to time such persons who may request, wire~ of funds; to enter into any agreements with the Bank for the provision by Bank of various Treasury Management services to this Association as such Authorized Representative may determine, in his or her sole discretion, and to sign any and all documents and take all actions required by Bank relative to such Treasury Management services or the performance of the Association's obligations thereunder, and that any such Treasury Management agreement(s) shall remain in full force and effect until written notice to terminate given in accordance with the terms of any such agreement shall have been received by the Bank and that such termination shall not affect any action taken by the Bank prior to such termination; to rent or lease a safe deposit box from Bank, to execute the rental agreement or lease, to enter the safe deposit box and to terminate the rental agreement or lease; to take whatever other actions or enter into whatever other agreements relating to the accounts or investment of funds in such accounts with the Bank and to execute, amend, supplement and deliver to Bank such agreements on behalf of the Association upon such terms and conditions as such Authorized Representative may deem appropriate and to appoint und delegate, from time to time, such person(sJ who may be authorized to enter into such agJ"eements and take any other actions pursuant to such agreements in connection with said accounts that the Authorized Representative deems necessary; and to waive presentment, demand, protest, and notice of protest or dishonor of any check, note, bill, draft, or other instrument made, drawn or endorsed by this Association; and 2. Further Resolved, that the Bank be and is hereby authorized to honor, receive, certify, payor exchange for money orders or other instruments all instruments signed in accordance with the foregoing resolutions even though such payment may create an overdraft or even though such instruments may be drawn or endorsed to the order of any Authorized Representative s'igning the same or tendered by such Authorized Representative or a third party for exchange or cashing, or in payment of the individual obligation of such Authorized Representative, or for deposit to such Authorized Representative's personal account and Bank shall not be required or be under any obligation to inquire as to the circumstances of the issuance or use of any im,trument signed in accordance with the foregoing resolutions or the application or disposition of such instrument or the proceeds the,'eof; and, further, that the Bank is authorized to honor any instructions ,'egarding withdrawals, orders for payment or transfer of funds whether oral, by telephone or electronic means if such withdrawal, orders or transfer are initiated by an Authorized Representative; and 3, Further Resolved, that the Bank be and is he,'eby requested, authorized and directed to honor and to treat as authorized, checks, drafts orother orders for the payment of money drawn or purportedly drawn in this Association's name, including those payable to the individual order of any person whose name appears thereon as signer thereof, when belU'ing or purporting to bear the facsimile signature of an Autho,-ized Representative authorized in the fo/'egoing /'esolutions and Bank shall be entitled to honor, to treat as authorized, and to charge this Association for such checks, drafts, or other ol'ders regrn'dless of by whom or by what means the actual or purported facsimile signature thereon may have been affixed thereto, if such signature resemhles the facsimile specimen duly certified to or tiled with the Bank by the Secretary or Assistant Secretary or other officer or an Authorized Rep,"esentative of thin Association or if such fllcsimile signature resembles any facsimile signature previously affixed to any check, d.'aft, or other order drawn' in the Association's name, which check, draft, or other order WllS accepted and paid without timely objection by the ABsociation, therehy ratifying the use of such facsimile signature; and the Association hereby indemnities and holds the Bank harmless against any and all loss, cost, damage or expense nuffered or incurred by the Bank arising out of or in any way related to the misuse or unlawful or unauthorized use by a person of such facsimile signature; and OO,l0J.9011M 6-1999 NfL 4, Further Resolved, that endorsements for deposit may be evidenced by the name of the Association being wl'itten or stamped on the check or other instrument deposited, without designation of the party making the endorsement, and Bank is authorized to supply any endorsement on any instrument tendered for deposit or collection; and 5, Further Resolved, that the Secretary or Assistant Secretary or other duly authorized officer of this Association shall certify to the Bank names and signatures of persons authorized to act on behalf of this Association under the foregoing resolutions and shull from time to time hereafter, as changes in the identity of said Authorized Representatives are made, immediately report, furnish and certify such changes to Bank and shall submit to Bank a new account signature card reflecting such change in order to make such changes effective and Bank shall be fully pl"otected in l'elying on such certifications and shall be indemnified and saved harmless from any claims, demands, expenses, losses, or dlunages result; ng from, or growing out of, honoring the signature of any Authorized Representative so certified, or refusing to honor any signature not so certified; and 6, Further Resolved, that the foregoing resolutions shall remain in full force and effect and the authority herein given to all of said pel'sonS shall remain irrevocahle as far as Bank is concerned until three (3) business days after Bank is notified in wl'iting of the revocation of such authority and that receipt of such notice shall not affect any action taken hy the Bank prior thereto: and 7, Further Resolved, that all transactions by any Authorized Representutive, officer or employee of this Association on its behalf and in its name with Bank prior to the delivery to Bank of a certified copy of the foregoing resolutions are, in all respects, hereby ratified, confirmed, approved and adopted; and ,8, Further Resolved, that the Secretary or Assistant Secretary be and hereby is, authorized and directed to certify these resolutions to Bank and that the provisions hereof are in conformity with the Articles of Association, Charter, Rules and Bylaws of this Association. In Witness Whereof and intending to bind the Association, I have hereunto subscribed my name as the of this Association, this \ Y day of ::3 cv......~ """ '(. ~ = :;>...... SecretlU'y Secretaryl Assistant Secretary Bank 'nfonnation Date Banking Center Name Associate's Name Associate's Phone Numher