HomeMy WebLinkAboutAgenda Report - February 1, 2023 C-11CITY OF
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CALIFORNIA
AGENDA ITEM C40
/ /
COUNCIL COMMUNICATION
AGENDA TITLE: Adopt Resolution Updating City Staff Signers on City of Lodi Farmers & Merchants Bank
Accounts
MEETING DATE: February 1, 2023
PREPARED BY: Deputy City Manager
RECOMMENDED ACTION: Adopt Resolution Updating City Staff Signers on City of Lodi Farmers &
Merchants Bank Accounts
BACKGROUND INFORMATION: With the upcoming retirement of the Budget Manager and the hiring of a
new Budget Manager, the City is in need of updating the signers on the
City's bank accounts held at Farmers & Merchants Bank.
Staff is requesting that the following staff are designed signers:
Steve Schwabauer, City Manager
Andrew Keys, Deputy City Manager
Lisa Noffsinger, Budget Manager
These individuals will coordinate internet banking, wire transfers, automated clearinghouse entries and will serve
as signers on City of Lodi bank accounts with F&M Bank. The attached exhibits provided by F&M Bank states
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 Bank requires City Council authorization and the signatures of Mr. Schwabauer, Mr.
Keys and Mrs. Noffsinger on the attached exhibit in order to conduct City banking business.
FISCAL IMPACT: Not applicable.
FUNDING AVAILABLE: Not applicable.
OoAneur X,,46i
Andrew Keys
Deputy City Manager/Internal Services Director
APPROVED, _ 1an 24, 20231332 PST)
Stephen Schwabauer, City Manager
EXHIBIT A
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
Referred to in this document as "Financial Institution " Referred to in this document as "Corporation "
I,OLIVIA HASHED , certify that I am Secretary (clerk) of the above named corporation
organized under the laws of CALIFORNIA , Federal Employer I.D. Number
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 February 1, 2023 (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These resolutions appear in the minutes of this meeting and have not been rescinded or modified.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)
STEPHEN SCHWABAUER
A. CITY MANAGER X
ANDREW C KEYS
B.DEPUTY CITY MANAGER X
LISA NOFFSINGER
C.BUDGET MANAGER X
D. X
E. X
F. X
X
X
R
X
X
Corporation Auth4M ation CA -11/810 0108
OOnkcrs Systcrns Pa a 1 01 3
Wohers Kluwer Financial Services 0 2016 A
Powers Granted. (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 Indicate number
D, E, and/or F
of signatures
required
(1)
Exercise all of the powers listed in this resolution.
A 8 c? (2)
Open any deposit or share account(s) in the name of the Corporation. a+
A C3ri (3)
Endorse checks and orders for the payment of money or otherwise
withdraw or transfer funds on deposit with this Financial Institution.
(4) Borrow money on behalf and in the name of the Corporation, sign,
execute and deliver promissory notes or other evidences of
indebtedness.
(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.
(6) Enter into a written lease for the purpose of renting, maintaining,
accessing and terminating a Safe Deposit Box in this Financial
Institution.
(7) Other:
Limitations on Powers. The following are the Corporation's express limitations on the powers granted under this
resolution.
Resolutions
The Corporation named on this resolution resolves that,
(1) 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 is 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 tray deem
advisable for the effective exercise of the powers indicated in this resolution, from time to time with the Financial
Institution, subject many 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.
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(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 (PIN), and digital signatures. If a facsimile signature specimen has been provided
on this resolution, (or 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(s) 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.
Effect on Previous Resolutions. This resolution supersedes resolution dated . If not
completed, all resolutions remain in effect.
Certification 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 stated above 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) -
Secretary
OLIVIA NASHED
Attest by One Other Officer
For Financial Institution Use Only
Acknowledged and received on
❑ This resolution is superseded by resolution dated
Comments:
Corporation Auth rizat,On
Bankers SystemsIM
Wolters Kluwer Financial Services 0 2018
(date) by (initials)
CA -1 7/1/2018
118071.01
Pape 3 of 3
RESOLUTION NO. 2023-28
A RESOLUTION OF THE LODI CITY COUNCIL AUTHORIZING
THE CITY MANAGER, DEPUTY CITY MANAGER, AND BUDGET MANAGER
AS A SIGNERS ON CITY OF LODI
FARMERS & MERCHANTS BANK ACCOUNTS
NOW, THEREFORE, BE IT RESOLVED that the Lodi City Council does hereby
authorize the City Manager, Stephen Schwabauer; Deputy City Manager, Andrew Keys; and
Budget Manager, Lisa Noffsinger, to execute Exhibit A (Corporate Authorization Resolution)
attached hereto on behalf of the City of Lodi.
Dated: February 1, 2023
I hereby certify that Resolution No. 2023-28 was passed and adopted by the City
Council of the City of Lodi in a regular meeting held February 1, 2023, by the following vote:
AYES: COUNCIL MEMBERS — Bregman, Khan, Nakanishi, and Mayor Hothi
NOES: COUNCIL MEMBERS — None
ABSENT: COUNCIL MEMBERS — Craig
ABSTAIN: COUNCIL MEMBERS — None
OLIVIA NASHED
City Clerk
2023-28
EXHIBIT A
Corporate Authorization Resolution
FARMERS & MERCHANTS BANK OF CENTRAL CA
By; CITY
OF
LODI
PO BOX 3000
P O
BOX
3006
LODI, CA 95241-1902
LODI
CA
95241
Referred to in this document as "Financial Institution " Referred to in this document as "Corporation "
j OLIVIA NASHED , certify that I am Secretary (clerk) of the above named corporation
organized under the laws of CALIFORNIA , Federal Employer I.D. Number
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 February 1, 2023 (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)
STEPHEN SCHWABAUER
A.CITY MANAGER X X
ANDREW C KEYS
B.DEPUTY CITY MANAGER X X
LISA NOFFSINGER
C,BUDGET MANAGER X X
D. X X
E. X X
F. X X
Corporalian Aulh dstion
Bankers SVStems4M
Wolters Wk wor Financial Services ® 2018
CA•1 7/11201 B
f 18071.01
Page 1 of 3
Powers Granted. (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 Indicate number
D, E, and/or F of signatures
required
(1) Exercise all of the powers listed in this resolution.
A B—ap (2) Open any deposit or share account(s) in the name of the Corporation. o�
(3) 1=ndor%e checks and orders for the payment of money or otherwise
withdraw or transfer timds on deposit with this Financial institution.
(4) Borrow money on behalf and in the name of the Corporation, sign,
execute and deliver promissory notes or other evidences of
indebtedness.
(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.
(6) Enter into a written lease for the purpose of renting, maintaining,
accessing and terminating a Safe Deposit Box in this Financial
Institution.
(7) Other:
Limitations on Powers. The following are the Corporation's express limitations on the powers granted under this
resolution.
Resolutions
The Corporation named on this resolution resolves that,
(1) 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) 'rhe signature of an Agent on this resolution is 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 in this resolution, from time to time with lite Financial
Itlstltution, 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.
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Hankers $Ya1eriralH 0 807101
Woir ara %lower Fhiont fel Servleea C 2018 Pape 2 of 3
(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 (PIN), and digital signatures. If a facsimile signature specimen has been provided
on this resolution, (or 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(s) 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 filer 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 Iiability for unauthorized use of alternative signature and
verification codes unless otherwise agreed in writing.
Effect on Previous Resolutions. This resolution supersedes resolution dated . If not
completed, all resolutions remain in effect.
Certification 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 stated above 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) .
Secretary
OLIVIA NASHED
Attest N! One Other Officer
For Financial Institution Use Only
Acknowledged and received on
❑ This resolution is superseded by resolution dated
Comments:
COrporZhgn Aulh gallon
R Anka rs Sy tam S�M
wollera Kluwer Financial Services Q 2018
(date) by (initials)
CA -1 7/112018
11807101
Pape 3 of 3