HomeMy WebLinkAboutVII(E) Resolution No. 98-04, Regarding Signatories For All Of The City's Bank Accounts Agenda 4-7-98
Item VII E
"CENTER OF GOOD LIVING-PRIDE OF WEST ORANGE" MAYOR•COMMISSIONER
S. SCOTT VANDERGRIFT
Ocoee COMMISSIONERS
' yj '\� CITY OF OCOEE DANNY HOWELL
a SCOTT ANDERSON
DRIVE N.LAKESHORE DvE SCOTT A.GLASS
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OCOEE,FLORIDA34761-2258 NANCY J.PARKER
(407)656-2322
CITY MANAGER
Of G 00�~ ELLIS SHAPIRO
MEMORANDUM
TO: The Honorable Mayor and Board of City Commissioners
FROM: Wanda Horton, Finance Director,Slf
DATE: April 2, 1998
RE: Resolution 98-04
Resolution 98-04 authorizes positions to be signatories on behalf of the City for all of the City's
bank accounts. This resolution repeals Resolution 94-08 which referenced the positions of
Finance Manager and Director of Administrative Services and replaces them with Director of
Finance and Finance Supervisor..
Additionally, this resolution authorizes the wire transfer of funds from the City's Payroll account
to employee bank accounts to facilitate direct deposit of payroll.
Action Requested
Staff requests the Mayor and City Commission adopt Resolution 98-04.
RESOLUTION NO. 98- 04
A RESOLUTION OF THE CITY OF ,OCOEE, FLORIDA
REPEALING RESOLUTION NO. 9448 REGARDING
SIGNATORIES FOR ALL OF THE CITY'S BANK ACCOUNTS;
AUTHORIZING THE MAYOR, CITY MANAGER AND DIRECTOR OF
FINANCE, TO BE SIGNATORIES ON BEHALF OF THE CITY OF
OCOEE FOR ALL OF THE CITY'S BANK ACCOUNTS;
AUTHORIZING THE USE OF FACSIMILE SIGNATURES FOR
TRANSACTIONS WITH RESPECT TO ALL BANK ACCOUNTS OF
THE CITY OF OCOEE; AUTHORIZING THE FINANCE
SUPERVISOR AND DIRECTOR OF FINANCE TO BE
SIGNATORIES ON BEHALF OF THE CITY OF OCOEE FOR ALL
OF THE CITY'S ACCOUNTS EXCEPT FOR BANK ACCOUNTS;
AUTHORIZING THE WIRE TRANSFER OF FUNDS FROM THE
CITY'S BANK ACCOUNTS FOR SPECIFIED PURPOSES;
AUTHORIZING THE CITY CLERK TO CERTIFY TO BANKS,
FINANCIAL INSTITUTIONS, BROKERAGES AND OTHER
INVESTMENT AND MONEY MANAGEMENT COMPANIES THE
PERSONS HOLDING THE POSITIONS OF THE AUTHORIZED
SIGNATORIES; PROVIDING FOR SEVERABILITY; PROVIDING
AN EFFECTIVE DATE.
WHEREAS, on April 19, 1994, the City Commission of the City of
Ocoee adopted Resolution No. 94-08 authorizing signatories on
behalf of the City of Ocoee for all of the City' s bank accounts;
and
WHEREAS, the City Commission of the City of Ocoee desires to
repeal Resolution No. 94-08 in its entirety; and
WHEREAS, the City Commission of the City of Ocoee desires to
authorize those persons who presently and hereafter hold the .
positions of Mayor, City Manager and Director of Finance to be
signatories on behalf of the City of Ocoee for all of ,the City' s
bank accounts; and
WHEREAS, the City Commission of the City of Ocoee desires to
authorize those persons who presently and hereafter hold the
positions of Finance Supervisor and Director of Finance to be
signatories on behalf of the City of Ocoee for all of the City' s
accounts, except for bank accounts, including but not limited to
money market accounts and other accounts with brokerages and other
investment and money management companies; and
WHEREAS, the City Commission of the City of Ocoee desires to
authorize the use of facsimile signatures by the signatories for
transactions with respect to the City of Ocoee' s bank accounts; and
WHEREAS,. the City Commission of the City of Ocoee desires to
authorize the wire transfer of funds from the City' s bank accounts
by authorized signatories for specified purposes; and
WHEREAS, the City Commission of the City of Ocoee desires to
authorize the City Clerk, from time to time as necessary, to
certify to banks, financial institutions, brokerages and other
investment and money management companies the names of the persons
holding the positions of authorized signatories .
NOW, THEREFORE, BE IT RESOLVED BY THE CITY CONMKISSION OF THE
CITY OF OCOEE, FLORIDA, AS FOLLOWS:
SECTION ONE. Authority. The City Commission of the City of
Ocoee has the authority to adopt this Resolution pursuant to
Article VIII of the Constitution of the State of Florida, Chapter
166, Florida Statutes, and Article VI of the Charter of the City of
Ocoee.
SECTION TWO. Authorized Signatories for Bank Accounts. .The
City Commission of the City of Ocoee, Florida, hereby authorizes
those persons who presently and hereafter hold the positions of
Mayor, City Manager and Director of Finance to be signatories on
behalf of -the City of Ocoee for all of the City' s bank accounts .
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The signatures of any two of the three authorized signatories shall
be necessary to authorize a transaction with respect to the City of
Ocoee' s bank accounts .
SECTION THREE. Facsimile Signatures for Hank Accounts. The
City Commission of the City of Ocoee, Florida, hereby authorizes
the use of facsimile signatures by the authorized signatories for
transactions with respect to the City of Ocoee' s bank accounts .
SECTION FOUR. Authorized Signatories for All City Accounts,
except Bank Accounts. The City Commission of the City of Ocoee,
Florida, hereby authorizes those persons who presently and
hereafter hold the positions of Finance Supervisor and Director of
Finance to be signatories on behalf of the City of Ocoee for all of
the City' s accounts, except for bank accounts, including but not
limited to money market accounts and other accounts with brokerages
and other investment and money management companies . The
signatures of any one of the two authorized signatories shall be
necessary to authorize a transaction with respect to such accounts
of the City of Ocoee; provided, however, the transfer of funds from
such accounts, whether by wire transfer or otherwise, shall be made
only to bank accounts of the City of Ocoee. All transfers of funds
from such accounts are expressly prohibited except for transfers to
bank accounts of the City of Ocoee.
SECTION FIVE. Wire Transfer of Funds from Bank Accounts. The
City Commission of the City of Ocoee, Florida, hereby authorizes
those persons who presently and hereafter hold the position of
Finance Supervisor and Director of Finance to authorize the wire or
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electronic transfer of funds from bank accounts of the City,
subject to the following conditions and limitations :
(1) Each such transfer shall be confirmed in
writing and signed by any one of the two authorized signatories.
(2) Wire or electronic transfers from City bank
accounts shall be permitted only for the following purposes :
(a) For transfers to retirement or deferred
compensation accounts of City employees.
(b) For transfers to credit union accounts of
City employees when such funds are otherwise
payable by the City to the employee and the
employee has provided the Personnel Department with
a written authorization to transfer such funds to
the credit union account of the employee and the
credit union confirmed that it has lawful authority
to accept such deposit .
(c) For - transfers to accounts of the United
States of America in payment of obligations of the
City to the United States of America.
SECTION SIX. Certification by City Clerk. The City
Commission of the City of Ocoee, Florida, hereby authorizes the
City Clerk, from time to time as necessary, to certify to banks,
financial institutions, brokerages and other investment and money
management companies the names of the persons holding the positions
of Mayor, City Manager, Finance Supervisor, and Director of
Finance.
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SECTION SEVEN. Severability. If any section, subsection,
sentence, clause, phrase 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 EIGHT. Effective Date. This Resolution shall become
effective immediately upon passage and adoption and shall remain. in
full force and effect until repealed.
PASSED -AND ADOPTED this day of , 1998 .
APPROVED:
ATTEST: CITY OF OCOEE, FLORIDA
Jean Grafton, City Clerk S . Scott Vandergrift, Mayor
(SEAL)
READ FIRST TIME AND ADOPTED
, 1998,
UNDER AGENDA ITEM NO.
FOR USE AND RELIANCE ONLY BY
THE CITY OF OCOEE, FLORIDA
APPROVED AS TO FORM AND LEGALITY _
this day of , 1998 .
FOLEY LARDNER
By:
City Attorney
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