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HomeMy WebLinkAbout2017 12 11 Consent 300 Resolution 2017-17 5/3rd Bank Documentation AuthorizationCOMMISSION AGENDA ITEM 300 Informational Consent X Public Hearings Regular December 11, 2017 KS SB Regular Meeting City Manager Department REQUEST: Finance and Administrative Services Department requesting the Commission approve Resolution 2017 -17 designating the City Manager, Finance Director and Community Development Director as authorized representatives to execute documentation required by 5 /3rd Bank on behalf of the City of Winter Springs. SYNOPSIS: The purpose of this Agenda Item is to approve Resolution 2017 -17— a resolution that designates the City's representatives authorized to execute documentation with 5 /3rd Bank. CONSIDERATIONS: Resolution 2017 -17 has been prepared to authorize the City Manager and the Finance Director as authorized representatives to execute documentation required by 5 /3rd Bank on behalf of the City of Winter Springs. Due to the dual signatory requirement, Brian Fields, Community Development Director, is designated as the third representative only in the event of an emergency whereby the City Manager or the Finance Director is unavailable to duly execute needed documents. Previously, this third signatory was Kip Lockcuff and is now being replaced with Brain Fields. FISCAL IMPACT: There is no financial impact related to this agenda item. COMMUNICATION EFFORTS: This Agenda Item has been electronically forwarded to the Mayor and City Commission, Consent 300 PAGE 1 OF 2 - December 11, 2017 City Manager, City Attorney /Staff, and is available on the City's Website, LaserFiche, and the City's Server. Additionally, portions of this Agenda Item are typed verbatim on the respective Meeting Agenda which has also been electronically forwarded to the individuals noted above, and which is also available on the City's Website, LaserFiche, and the City's Server; has been sent to applicable City Staff, Media/Press Representatives who have requested Agendas /Agenda Item information, Homeowner's Associations/Representatives on file with the City, and all individuals who have requested such information. This information has also been posted outside City Hall, posted inside City Hall with additional copies available for the General Public, and posted at six (6) different locations around the City. Furthermore, this information is also available to any individual requestors. City Staff is always willing to discuss this Agenda Item or any Agenda Item with any interested individuals. RECOMMENDATION: Staff recommends that the Commission approve Resolution 2017 -17, which designates the authorized representatives to execute documentation with 5 /3rd Bank. ATTACHMENTS: Resolution 2017 -17 Consent 300 PAGE 2 OF 2 - December 11, 2017 RESOLUTION NO. 2017 -17 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF WINTER SPRINGS, FLORIDA, REAUTHORIZING THE MAINTAINING OF DEPOSIT ACCOUNTS AND SERVICES WITH 5 /3 rd BANK; 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 5 /3rd Bank and designate the City Manager, Finance Director, and Community Development Director as authorized representatives to execute documentation required by 5 /3rd Bank 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. 5 /3rd Bank as an Authorized Depository. The City Commission hereby reauthorizes 5 /3rd Bank 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 5 /3rd Bank 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 D. 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, Brian Fields, Community Development 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 5 /3rd Bank, to open said accounts, to withdraw funds from or transmit funds to any account of 5 /3rd Bank, 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 Community Development. 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 5 /3rd Bank is concerned until such time as 5 /3rd Bank 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 5 /3rd Bank. 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 day of , 2017. Charles Lacey, 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