HomeMy WebLinkAboutResolution 2010-19 Designating Authorization To Execute Bank Of New York Documentation RESOLUTION NUMBER 2010 -19
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
WINTER SPRINGS, FLORIDA, REAUTHORIZING THE MAINTAINING
OF DEPOSIT ACCOUNTS AND SERVICES WITH THE BANK OF NEW
YORK; 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 NEW YORK and designate the City Manager, Finance
Director, and Public Works /Utility Director as authorized representatives to execute
documentation required by BANK OF NEW YORK 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. BANK OF NEW YORK as an Authorized Depository. The
City Commission hereby reauthorizes The BANK OF NEW YORK as a designated
depository of the City of Winter Springs and that deposit accounts and /or time deposits
(CD's) may be opened and maintained in the name of the City of Winter Springs with
the BANK OF NEW YORK 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 Shawn Boyle, Finance 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 Finance Director are not available,
Kipton Lockcuff, Public Works /Utilities Director, shall be a duly authorized
representative during said emergency and unavailability. 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
NEW YORK, to open said accounts, to withdraw funds from or transmit funds to any
account of the BANK OF NEW YORK, 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 Finance Director, and in the case of emergency and
unavailability as stated above, the Public Works /Utilities 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 NEW YORK is concerned until such time as the BANK OF NEW YORK 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 BANK OF NEW YORK.
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 the City Commission of the City of Winter Springs, Florida, in a
regular meeting assembled on the 26 day of April 2010.
_, .--t,-, - ; 64-
JO F. BUSH, Mayor
All • :
AN IP A LORENZO - LUACES, City Clerk
Approved as to legal form and sufficiency for
the City of ., ., ter Springs only:
,,,,,
A ' HONY 7 . GARGANESE, City Attorney
City of Winter Springs, Florida
Resolution 2010 -19
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