HomeMy WebLinkAboutAgenda Report - June 18, 2008 E-04AGENDA ITEM E..wq
• CITY OF LODI
COUNCIL COMMUNICATION
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AGENDA TITLE: Adopt Resolution Authorizing the City Manager and Budget Manager as Signers
on City of Lodi Farmers & Merchants Bank Accounts (CM)
MEETING DATE: June 18,2007
PREPARED BY: Kirk Evans, Budget Manager
RECOMMENDED ACTION: That City Council authorize the City Manager and Budget Manager to
act as signers on City of Lodi bank accounts with Farmers &
Merchants Bank; and authorize these individuals to execute the
attached Exhibit A (Corporate Authorization Resolution) and Exhibit B
(Electronic Transfer Corporate Resolution).
BACKGROUND INFORMATION: Deputy City Manager, James Krueger will be leaving the City shortly.
Mr. Krueger and Kirk Evans, Budget Manager are currently listed as signers on all City of Lodi accounts
at Farmers & Merchants Bank (F&M). This action will allow the City Manager, Blair King to replace Mr.
Krueger as a signer on all City accounts and will allow these individuals to coordinate internet banking,
wire transfers and automated clearing house entries. 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. King and
Evans on these exhibits in order to conduct City banking business.
FUNDING AVAILABLE: N/A
KJE
Attachments
Cc: City Attorney
Blair King
City Manager'
APPROVED: (.._._
Btair Kilig, City Manager
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A RESOLUTION OF THE LODI CITY COUNCIL
AUTHORIZING THE CITY MANAGERAND BUDGET
MANAGER AS SIGNERS ON CITY OF LODI FARMERS
& MERCHANTS BANKACCOUNTS
NOW, THEREFORE, BE IT RESOLVED that the Lodi City Council does hereby
authorize the City Manager, Blair King, and Budget Manager, Kirk Evans, to act as
signers on City cf 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 (Corporate Authorization Resolution)and Exhibit
B (Electronic Transfer Corporate Resolution) attached hereto on behalf of the City of
Lodi.
Dated: June 18,2008
I hereby certify that Resolution No. 2008-106 was passed and adopted by the
City Council of the City of Lodi in a regular meeting held June 18, 2008, by the following
vote:
AYES: COUNCIL MEMBERS— Hansen, Hitchcock, Johnson, Katzakian,
and Mayor Mounce
NOES: COUNCIL MEMBERS— None
ABSENT: COUNCIL MEMBERS — None
ABSTAIN: COUNCIL MEMBERS — None
R
*eputy
NIFE M. PERRIN
Ci y Clerk
14iI11,05[1I:
CORPORATE AUTHORIZATION RESOLUTION
FARMERS & MERCHANTS BANK OF CENTRAL CA By: CITY OF LODI
PO BOX 3000 P 0 BOX 3006
LODI, CA 95241-1902 LODI CA 95241
EXHIBIT Al
Referred to in this document as "Financial Institution" Referred to in this document as "Corporation'
RANDI JOHL , certify that I am Secretary (clerk) of the above named corporation organized under the laws of
CALIFORNIA , Federal Employert.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
dopted at a meeting of the Board of Directors of the Corporation duly and properly called and held on 06118108 (date).
nese resolutions appear in the minutes of this meeting and have not been rescinded or modified.
GENTS 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)
BLAIR KING X X
KIRK JOHN EVANS X X
X
X X
X X
X X
OWERS GRANTED (Attach one or more Agents to each power by placing the letter corresponding to their name in the area before each power.
allowing each power indicate the number of Agent signatures required to exercise the power.)
dicate A, B. C, Description of Power indicate number of
, E, and/or F signatures required
NA (1) Exercise all of the powers listed in this resolution.
ABCDEF (2) Open any deposit or share accountlsl in the name of the Corporation. 1
ABCDEF (3) Endorse checks and orders for the payment of money or otherwise withdraw or transfer funds on deposit
with this Financial Institution.
NA 141 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 171 Other
MITATIONS ON POWERS The following are the Corporation's express limitations on the powers granted under this resolution.
TECT ON PREVIOUS RESOLUTIONS This resolution supersedes resolution dated 11/1/2006 . If not completed. all resolutions remain in effect.
rRTIFICATION OF AUTHORITY
urther 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
/opt 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
e same. (Apply seal below where aoorooriate.l
If checked. the Corporation is anon -profit Corporation. In Witn ereof, I have subscribed my nam o this document and affixed the seat
of r n on
'" (date).
er Secretary
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V 1985, 1997 Bankers Systems, Inc., St. Cloud. MN F km 5/1/2003 (page I of 21
The Carpormfon rlan don >iila rMsahMairi mhea *ot,
11► The Financial Institution is designated as a depository fat' the funds of the Corporation and to provide other Hnanciel accommodations irtditataad in
this resoiution.
(2) This resolution shall ccomi>we to have effect unto express written notice of It# rsodsoion cr modification has boan received and recorded by the
Financial O"tvtk!a, Any and all prior resolutions adoptatt by the Board of Directors of tha Corporation and certified to the Flnanoisl Institution as
governing the operation of this tbrporatioWs account(sl, are in tum force and effect, untif the Financial Institution receives and acknowledges an
express Written notice of its revderrt€ora, modification or repRecerrleant. Any revocation, modification or replacement of a resolution must be
accompanied by documentation, satisfactory to the Financial institution, establishing the authority for Me c h a m s .
(3) The signature of an Agent on this resolution is cor oki" evidence of their authority to act on behalf of the Corporation. Any Agent. so long as
they act in a representative capacity as en 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 res -Elution or otherwise agreed I o in writing,
14) 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.
15) The Corporation agrees to the terms and conditions cf 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.
16) The Corporation admowledges and agrees that the Financial Institution may furnish at Its discretion autometed access devices to Agents of t"
Corporation to facilitate triose powers authorized by this resolution or other resolutions in effect at the time of issuance. The term 'automate-€
access deVice' inciudeC but is not limited to, credit cards, aummated summatedteller machines (ATMI, and debit cards.
(7) The Corporation acknawiedges and agrees thar ft Financial institution may rely on alternative signature and verification codes issued to ar,
obtained from the Agent named on this resolutlori. The term "alternative signature and vefification codes" includes. but is not limited to, facsimile
segnaaturese on file with the Financial Institution. personal identification numbers [PIN), and digital ire? Ifa facsimile signature specimen has
been provided on this resolution. for that are filed separately by the Corp -oration with the Financial Institution from time to timO the Financial
Institution is authorized to treat the facsirnlie asignaatcoa ars the signature of the Agent(s) regardless of by whom of by what means the facsimile
signature may have bean affixed so lorig as it resembles the fKairnite signature specimen on file. The Corporation authorizes each Agent to heve
custody of the Corporation's private key used to create a digital signature and to request Issuance of a certiticate listing the corresponding public
key. The Financial Institution shall have no responsibility cr liability for unauthorized use of alternative signature and verification codes Unless
otherwise, agreed in writing.
Ponmwwjdvaa1. The designation of an .Agent does not create a power of attorney; therefore, Agents are rant a sit to the provisions of,".90 ft C.S.A.
Section 5607 et seq. 4Chapter 56; Decedents, Estates and Fiduciaries CocW untbar the agency was created by a separate power aiittotrioy. Any
provision their aalgriis F€rtaMial 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
at seq. (Chapter 56, Wecnrierrfdi, Estates and Fiduciaries Code).
FOR FINANCIAL INSMITUMt4 USE ONLY
Acknowledged and received on (date) by (€nit€alb) 0 Tbk nesoltrtiorr is ttuperseded by resoluthM dated
Comments
0 1985, 1 897 8w*m Syumns, Inc., St. CkxA, MN Cam CA- 1 511IM3 fpV# 2 0 2)
EXHIBIT B
..........
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ELECTROW TRANSWR CORPORATE RESOLUTION
i, Randi Johl Citv Clerk
(1 i arrit)
(TWO
Of City o f Lodi , a corporation organized under the laws of the
(Name ofCorparalion)
State of California , hereby certify that the following is a full and true cop)' of a
resolution adopted at a meeting of the Board of Directors of said Company, duly held on the 18th
(Day)
day of Jute , 208
taathl ate)
"RESOLVED, that Blair King and Kirk Evans is lil y a oma# to make,
XWJ i,
execute and approve on behalf of this Company, my and 91 iia transfer contracts and to
execute and approve on behalf of this Company, other instnirents, a part of cr incident to such
contracts; dfi've until otherm-se ordered: by the Board of Di ctors."
AND I DO FURTHM CERTIFY that the above resalutim has not k e n in any way altered, amended
or rep ed, and is now in full force and pct.
IN W 1NM WHEREOF, I have hereunto set my hand.
City of l adite4r y of
ar
City Clerk
(Title)
Farmem &!`lVla rMM HW* of ed Cha - Cw i l (1107)