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HomeMy WebLinkAbout2008-22RESOLUTION 2008-22 Banking Resolution Regarding Certification and Authorization of Town Officers as Signatories for Deposit Accounts WHEREAS, Wachovia, the Bank of America, and the National Bank of Blacksburg (NBB) are designated as a depositories for the funds of the Town of Pulaski, Virginia; NOW THEREFORE be it RESOLVED, that the Financial Institutions named above at any one or more of its offices and branches, be and it hereby are designated as a depository for the funds of this Entity, which may be withdrawn on checks, drafts, advices of debt, notes or other orders for the payment of monies bearing the following appropriate number of signatures: Any one (1) of the following named officers or employees of this Entity ("Agents"), whose actual signatures are shown below: S. Worrell -Mayor ~~--~-+t David N. Quesenberry Asst. to Town Manager and that the Financial Institutions shall be and are authorized to honor and pay the same whether or not they are payable to bearer or to the individual order of any Agent or Agents signing the same. FURTHER RESOLVED, that the Financial Institutions are hereby directed to accept and pay without further inquiry any item drawn against any of the Entity's accounts with the Financial Institutions bearing the signature or signatures of Agents, as authorized above or otherwise, even though drawn or endorsed to the order of any Agent signing or tendered by such Agent for cashing or in payment of the individual obligation of such Agent or for deposit to the Agent's personal account, and the Financial Institutions shall not be required or be under any obligation to inquire as to the circumstances of the issue or use of any item signed in accordance with the resolutions contained herein, or the application or disposition of such item or the proceeds of the item. FURTHER RESOLVED, that any one of such Agents is authorized to endorse all checks, drafts, notes and other items payable to or owned by this Entity for deposit with the Financial Institutions, or for collection or discount by the Financial Institutions; and to accept drafts and other items payable at the Financial Institutions. FURTHER RESOLVED, that the above named agents are authorized and empowered to execute such other agreements, including, but not limited to, special depository agreements and arrangements regarding the manner, conditions, and purposes for which funds, checks or items of the Entity may be deposited, collected, or withdrawn and to perform other acts as they deem reasonably necessary to carry out the provisions of these resolutions. The other agreements and other acts may not be contrary to the provisions contained in this Resolution. FURTHER RESOLVED, that the authority hereby conferred upon the above named Agents shall be and remain in full force and effect until written notice of any amendment or revocation thereof shall be delivered to and received by the Financial Institutions at each location where an account is maintained. Financial Institutions shall be indemnified and held harmless from any loss suffered or any liability incurred by it in continuing to act in accordance with this resolution. Any such notices shall not affect any items in process at the time notice is given. FURTHER RESOLVED AND CERTIFIED, that the persons named above occupy the positions set forth opposite their respective names and signatures; that the foregoing Resolution now stand of record on the books of the Entity; that they are in full force and effect and have not been modified in any manner whatsoever. This resolution is effective upon adoption and is hereby adopted this 2"d day of September 2008 by the duly recorded vote of the Town Council of the Town of Pulaski, Virginia as follows: David L. Clark -Aye Joel B. Burchett, Jr. -Aye Larry G. Clevinger, I I -Aye Robert A Bopp -Aye H.M. Kidd -'Aye Morgan P. Welker -Aye IN TESTIMONY WHEREOF, I have hereunto set my hand on September 2, 2008 and attest that the signatures set opposite the names listed above are their genuine signatures. ATTEST: c, Patricia Cruise, Clerk of Council Worrell, Mayor ..,,., ...w,,,, CERTIFIED TO AND ATTESTED BY: