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HomeMy WebLinkAboutAgenda Report - November 1, 2006 E-12AGENDA ITEM FoOKIML jft CITY OF Low %W COUNCIL COMMUNICATION TM AGENDA TITLE: Adopt resolution Authorizing the Deputy City Manager and Budget Manager as Signers on City of Lodi Farmers & Merchants Bank Accounts MEETING DATE: November 1, 2006 PREPARED BY: Kirk J. Evans, Budget Manager RECO14MENDED ACTION: Adopt resolution authorizing the Deputy City Manager and Budget Manager to act as signers on City of Lodi bank accounts v►4th Farmers and Merchants Bank; and authorize these individuals to execute the attached Exhibit A (Corporate Authorization Resolution) and Exhibit B (Electronic Transfer Corporate Resolution). BACKGROUND INFORMATION: Kirk Evans was recently appointed Budget Manager for the City of Lodi. James Krueger, Deputy City Manager/City Treasurer is his supervisor. These individuals will coordinate internet banking, wire transfers, automated clearing house entries and will serve as signers on City of Lodi bank accounts with Farmers and Merchants (F&M). The attached exhibits provided by F&M state in part that "the signature of an Agent on this resolution is conclusive evidence of their authority to act on behalf of the Corporation". F&M requires City Council authorization and the signatures of Mr. Krueger and Evans on these exhibits in order to conduct City banking business. FISCAL IMPACT: NIA FUNDING AVAILABLE: NIA KJE Attachment cc: City AVAFney irk J: Evans Bridget Manager APPROVED: Blair , City Manager CORPORATE AUTHORIZATION RESOLUTION [ �(� g FARMERS & MERCHANTS BANK OF CENTRAL CA By: CITY OF LODI CJS !1 PO BOX 3000 P 0 BOX 3006 LODI, CA 95241-1902 LODI CA 95241 Referred to in this document as "Financial Institution" Referred to in this document as "Corporation" 1 RANDI JOHL , certify that I am Secretary (clerk) of the above named corporation organized under the laws of CALIFORNIA Federal Employer I.D. Number 94-6000361 , engaged in business under the trade name of CITY OF LODI , and that the resolutions on this document are a correct copy of the resolutions adopted at a meeting of the Board of Directors of the Corporation duly and properly called and held on (date). These resolutions appear in the minutes of this meeting and have not been rescinded or modified. AGENTS Any Agent listed below, subject to any written limitations, is authorized to exercise the powers granted as indicated below Name and Title or Position Signature Facsimile Signature (if used) A. JAMES R KRUEGER X X B. KIRK EVANS X X C, X X D. X X E. X X F. X X POWERS GRANTS (Attach one or more Agents to each power by placing the letter corresponding to their name in the area before each power. Following each power indicate the number of Agent signatures required to exercise the power.) Indicate A, B, C, Description of Power D, E, and/or F NA {1 I Exercise all of the powers listed in this resolution. ABCDEF (2) Open any deposit or share account(s) in the name of the Corporation. ABCDEF (3) Endorse checks and orders for the payment of money or otherwise withdraw or transfer funds on deposit with this Financial Institution. NA (4) Borrow money on behalf and in the name of the Corporation, sign, execute and deliver promissory notes or other evidences of indebtedness, NA (5) Endorse, assign, transfer, mortgage or pledge bills receivable, warehouse receipts, bills of lading, stocks, bonds, real estate or other property now owned or hereafter owned or acquired by the Corporation as security for sums borrowed, and to discount the same, unconditionally guarantee payment of all bills received, negotiated or discounted and to waive demand, presentment, protest, notice of protest and notice of non-payment. ABCDEF (6) Enter into a written lease for the purpose of renting, maintaining, accessing and terminating a Safe Deposit Box in this Financial Institution. NA (7) Other LIMITATIONS ON POWERS The following are the Corporation's express limitations on the powers granted under this resolution. Indicate number of signatures required 1 I 1 EFFECT ON PRE)AOUS RESOLUTIONS This resolution supersedes resolution dated NA . If not completed, all resolutions remain in effect. CERTWICATION OF AUTHORITY I further certify that the Board of Directors of the Corporation has, and at the time of adoption of this resolution had, full power and lawful authority to adopt the resolutions on page 2 and to confer the powers granted above to the persons named who have full power and lawful authority to exercise the same. {Apply seal below where appropriate.) © If checked, the Corporation is a non-profit corporation. In Witness Whereof, I have subscribed my name to this document and affixed the seal of the Corporation on (date). Attest by One Other Officer Secretary " ® 1985, 1997 Bankers Systems, Inc., St. Cloud, MN Form CA -1 5/1/2003 (page I of 2) RESOLUTIONS EXH.181T The Corporation named on this resolution resolves that, M The Financial Institution is designated as a depository for the funds of the Corporation and to provide other financial accommodations indicated in this resolution. (2) This resolution shall continue to have effect until express written notice of its rescission or modification has been received and recorded by the Financial Institution. Any and all prior resolutions adopted by the Board of Directors of the Corporation and certified to the Financial Institution as governing the operation of this corporation's account(s), are in full force and effect, until the Financial Institution receives and acknowledges an express written notice of its revocation, modification or replacement. Any revocation, modification or replacement of a resolution must be accompanied by documentation, satisfactory to the Financial Institution, establishing the authority for the changes. (3) The signature of an Agent on this resolution its conclusive evidence of their authority to act on behalf of the Corporation. Any Agent, so long as they act in a representative capacity as an Agent of the Corporation, is authorized to make any and all other contracts, agreements, stipulations and orders which they may deem advisable for the effective exercise of the powers indicated on page one, from time to time with the Financial Institution, subject to any restrictions on this resolution or otherwise agreed to in writing. (4) All transactions, if any, with respect to any deposits, withdrawals, rediscounts and borrowings by or on behalf of the Corporation with the Financial Institution prior to the adoption of this resolution are hereby ratified, approved and confirmed. (5) The Corporation agrees to the terms and conditions of any account agreement, properly opened by any Agent of the Corporation. The Corporation authorizes the Financial Institution, at any time, to charge the Corporation for all checks, drafts, or other orders, for the payment of money, that are drawn on the Financial Institution, so long as they contain the required number of signatures for this purpose. (6) The Corporation acknowledges and agrees that the Financial institution may furnish at its discretion automated access devices to Agents of the Corporation to facilitate those powers authorized by this resolution or other resolutions in effect at the time of issuance. The term "automated access device" includes, but is not limited to, credit cards, automated teller machines (ATM), and debit cards. (7) The Corporation acknowledges and agrees that the Financial Institution may rely on alternative signature and verification codes issued to or obtained from the Agent named on this resolution. The term "alternative signature and verification codes" includes, but is not limited to, facsimile signatures on file with the Financial Institution, personal identification numbers (PINI, and digital signatures. If a facsimile signature specimen has been provided on this resolution, lar that are filed separately by the Corporation with the Financial Institution from time to time) the Financial Institution is authorized to treat the facsimile signature as the signature of the Agent(sI regardless of by whom or by what means the facsimile signature may have been affixed so long as it resembles the facsimile signature specimen on file. The Corporation authorizes each Agent to have custody of the Corporation's private key used to create a digital signature and to request issuance of a certificate listing the corresponding public key. The Financial Institution shall have no responsibility or liability for unauthorized use of alternative signature and verification codes unless otherwise agreed in writing. Pennsylvania. The designation of an Agent does not create a power of attorney; therefore, Agents are not subject to the provisions of 20 Pa.C.S.A. Section 5601 et seq. (Chapter 56; Decedents, Estates and Fiduciaries Code) unless the agency was created by a separate power of attorney. Any provision that assigns Financial Institution rights to act on behalf of any person or entity is not subject to the provisions of 20 Pa.C.S.A. Section 5601 et seq. (Chapter 56; Decedents, Estates and Fiduciaries Codel, FOR FINANCIAL INSTITUTION USE ONLY Acknowledged and received on (date) by (initials) ❑ This resolution is superseded by resolution dated Comments: Ej,� @ 1966, 1997 Bankers Systems, Inc., Si. Voud, MN Form CA -1 51112003 tpage 2 of 2) Sacramento • Elk Grove - Galt • Lodi - Linden , Stockton • Modesto - Tud SK EXHIB11 B] "reBaAlis,&Uf ELECTRONIC TRANSFER CORPORATE RESOLUTION 1, (Narne) (Tide) of a corporation organized under the laws of the (Name of Corporation) State of , hereby certify that the following is a full and true copy of a resolution adopted at a meeting of the Board of Directors of said Company, duly held on the day of (MontWYear) Electronic Tnsfer Resolution "RESOLVED, that (Day) is hereby authorized to make, (Nanta) execute and approve on behalf of this Company, any and all electronic transfer contracts and to execute and approve on behalf of this Company, other instruments, a part of or incident to such contracts; effective until otherwise ordered by the Board of Directors." AND I DO FURTHER CERTIFY that the above resolution has not been in any way altered, amended or repealed, and is now in full force and effect. IN WITNESS WHEREOF, I have hereunto set my hand. this day of (Name o orpor n 7MY7 (Month/Year) (Signature) (Title) Farmers & MercWts Bank of Central California— Confidential (1/06) RESOLUTION NO. 2006-198 A RESOLUTION OF THE LODI CITY COUNCIL AUTHORIZING THE DEPUTY CITY MANAGER AND BUDGET MANAGER AS SIGNERS ON CITY OF LODI FARMERS & MERCHANTS BANK ACCOUNTS NOW, THEREFORE, BE IT RESOLVED that the Lodi City Council does hereby akAhorize the Deputy City Manager, James R. Krueger, and Budget Manager, Kirk Evans, to act as signers on City of Lodi bank accounts with Farmers and Merchants Bank; and BE IT FURTHER RESOLVED that the City Council further authorizes the above- named individuals to execute Exhibit A (Corporate Authorization Resolution) and Exhibit B (Electronic Transfer Corporate Resolution) attached hereto on behalf of the City of Lodi. Dated: November 1, 2006 I hereby certify that Resolution No. 2006-198 was passed and adopted by the City Council of the City of Lodi in a regular meeting held November 1, 2006, by the fo#owing vote: AYES: COUNCIL MEMBERS — Beckman, Hansen, Johnson, Mounce, and Mayor Hitchcock NOES: COUNCIL MEMBERS — None ABSENT: COUNCIL MEMBERS — None ABSTAIN: COUNCIL MEMBERS — None PANDIL City Clerk AJsiaJaag 66 Jaayjp +8+.110aup Aq. ►salty lelep) " ` — uo u0119lod)OO aql 10 feat aLp pftLljo pug luawnoop 9!411 of aweu AW psgy.0Rgn6 aAa41 1 'J00.19 M, sseul'M u1 'U0!v2J0dJ03 jr1;"Jd-u0u a s! unFlQJac):o^. !3141 ::..:� •: =;�.; 1•ate!Jc^.oxitle aJaym m41e.; !eas h:cld,r r.;>s _�{: a9twaxe of Aipo4ing lnjme) pus Jamod lint oAoq oym peweu suosled a111 of anoge palucie s)amod aq1 Jajue3 02 pug Z ;vBecl uc su— in -1;0. 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L9E0009-56 3 laJapa �1 to smel ayl Japun paxrutdio uoilsJodia3 PQWeU anage 0144 10 (XiMol AJeiaiaa,3 we I imp ApiJaa „uawaJodJop,, ss tuawnoop s!qi u! of pauajad ouminl!lsul la!aulEu,A„ se luamnaop sky; w t .aa�:: T1,ZS6 'rl0 IC10q ?G _-Z49S-1�i:_, ..'3 . 900E x0H 0 d1G0'I 90 X111 ASVZ) ltf2ilJ�tsp c3 hPI�tH SI. iH� a .v 1191HX3 NoamlDSW N0t1:N2imo"inv 3ivwodwo RESOLUTIONS EXH,TT A The Corporation nanied on this resolution resolves that, M :1 `'he iia ;. ai Irstisation is designated :,s a depository for the funds of the Corporation and to provide other financial accommodations indicated in 'nit°esc-uteC'n 2 Thi; -e,, :utrcrr ghat continue to have f=lied until express written notice of its rescission or modification has been received and recorded by the Any and all prior r ,solutions adopted by the Board of Directors of the Corporation and certified to the Financial Institution as t - "3ri the i:nara*ion of this corporation's accountls), are in full force and effect, until the Financial Institution receives and acknowledges an `.,r.tter notice of its revocation, modification of replacement, Any revocation, modification or replacement of a resolution must be ,r ,� e f dctc:umentatinr,. satisfac.tary to the Financial Institution, establishing the authority for the changes. 3, `h: or Agent on this rest, onion is conclusive evidence of their authority to act on behalf of the Corporation. Any Agent, so long as ''e, i}e : F, ,e;,�resentative capacity as an Agent of the Corporation, is authorized to make any and all other contracts, agreements, stipulations and t,;vy —ay deem adv";satri, for the effective exercise of the powers indicated on page one, from time to time with the Financial sad• ,'�;t 'cany restrictions 0 this resolution or otherwise agreed to in writing. s..f ar y. with respect tp imy deposits, withdrawals, rediscounts and borrowings by or on behalf of the Corporation Y01h the Financia) ST *L.atIE Wis,r tl a adoption of this rsolution are hereby ratified, approved and confirmed. "hr; "n -t> ral=or agrees to the terms and conditions of any account agreement, properly opened by any Agent of the Corporation. The Corporation ,t• ". iz = 'h'e V-;nanc.iar Institution, at ary time, to charge the Cofpofativn for all cheats, drafts, or other orders, for the payment of money, that are '•~e F.^an`aE Ittstitutien, sn fo-g as they contain the required number of signatures for this purpose. 1<° . > +->.i:ie-" ac.:rrawledges and agrees that the Financial Institutior. may furnish at its discretion automated access devices to Agents of the those powers `tutharized by this resolutior. or other resolutions in effect at the time of issuance. The term "autamated ,:i .: ; nclt:c#es, but is not ii mita°d to, Credit cards, automated teiler machines (ATM), and debit cards. ,;r : rr r.r .-o-" ar i:nowledges and a�:ees that the Financial institution may rely on alternative signature and verification codes issued to or ,�_� A,'icnt narred oma. this resolution. Tie term "atternative signature and verification codes" includes, but is not limited to, facsimile arurf f ; : wi,h the Financia' )ns- tut'.on, personal identification numbers IPIN), and digital signatures, II a facsimile signature specimen has 0(7- eo ;s resolution, {or that are filec separately by the Corporation with the Rnancial Institution born time to time) the Financial i --or red to tree? the facsimile signature as the signature of the Agents) regardless of by whom or by what means the facsimile �- I',ave green affixed sa form; as it resembles the facsimile signature specimen on fife, The Corporation authorizes each Agent u, have f; fj '_•,!car='s pr.vate e used to create it digital signature and to request issuance of a certificate listing the corresponding public <; A ,s'itution small „a'w; ne responsibility of liabi)ity for unauthorized use of alternative signature and verification codes unless =°enr;sy3sanic ".I. YSit zatit7n of an Agent ;nes not create a power of attorney; therefore, Agents are not subject to the provisions of 20 Pa.C,S,A, er •^^ 5� ' r, sex, ',-hapter 5&; Recede its: Estates and Fiduciaries Code) unless the agency was created by a separate power of attorney. Any < ossit„:'s Fnanciat Institution right,,; to act on behalf of any person or entity is not subject to the provisions of 20 Pa.C.S.A. Section 5601 _.,re. ESE Decodents, Estates anti Fiduciaries Code'. FOR FINANCIAL INSTITUTION USE ONLY a-�'d ice. vad or, .._.,._.-., Idate) by _-___..__�... (initials) ❑ This resolution is superseded by resolution dated MM Forr;CA-1 gs:wnn: IP00.0 2 T1 100 Sacramento Elk Grove Galt - Latld • Untlen , StodctOn • 1do e*W Tu ...., .- UMMUftsmogwilegui EX H I:B I"[ B ELECTRONIC TRANSFER. CORPORATE RESOLUTION a corporationorganized under the laws of the carne t,f `,'arporotian' }e _ .� i7ereby certify that the following is a full and true copy of a s taioi l adopted at a meeting of the Board of Directors of said Company, duly held on the (DaY1 '.°=ni3tn-Marr Electronic I-ra er &sWu6on .RES0L-V ESD. that is hereby authorized to make, {Name) cxecwt, �:-d appro-ve. on behalf of this Company. any and all electronic transfer contracts and to =-,xecu*e .,rld approve on behalf ofthis Company. other instruments, a part of or incident to such ccjrtracis. ef'fectiv'e until otherwise ordered by the Board of Directors." z' D 1 00 F1 "'RTNER CTRTIFY that the above resolution has not been in any way altered, amended. cr�,. rcpcaled. and is now in full farce and effect. :,` "vt-`11°hl"SS WHEREOF, T have; hereunto set my hand. this day of S.A nnasr,, -- 401 ar�ncr a ,arc wa s tiara: of Central Califumia -- C'o4dcntial 0/06)