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HomeMy WebLinkAboutRES.1608.09-05-2000BILL NO. 2000-231 RESOLUTION NO. Apcg A RESOLUTION DESIGNATING AUTHORIZED SIGNERS ON ACCOUNTS AT COMMERCE BANK BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CAPE GIRARDEAU, MISSOURI, AS FOLLOWS: ARTICLE 1. That Commerce Bank (hereinafter called Bank), is hereby designated a depository of the City of Cape Girardeau, Missouri, a Municipal Corporation (hereinafter called City), and that a checking or deposit account be opened and maintained with Bank, subject to the terms and conditions contained in the Deposit Accounts Agreement and Disclosure, said accounts to be entitled City of Cape Girardeau Operating Account and City of Cape Girardeau Payroll Account. ARTICLE 2. That any one of the following officers or agents of the City is authorized to sign checks, drafts, bills of exchange, and other orders for the payment of money from said account and that the following officers or agents are all of the individuals so authorized: CHECKING 1. Albert M. Spradling, III 2. Mary F. Thompson 3. John R. Richbourg These individuals will provide their signatures on a Bank Signature Card. ARTICLE 3. That Bank be and it hereby is authorized and directed to honor and pay, without further inquiry, all such checks, drafts, or other orders against said account, signed in accordance with Article 2 above, whether such instruments be drawn or endorsed to the order of the person signing the same, or whether the same are tendered for cashing or are in payment of the individual obligation of the person signing the same, or are deposited to the individual credit of the person signing the same or to the individual credit of any off icer of the City, or not, and Bank shall not be under any obligation to inquire as to the circumstances of the issuance or use of any instrument signed in accordance with Article 2 above or the application or disposition of such instrument or the proceeds thereof; and any one of said officers or agents is authorized to endorse for credit or negotiation any and all checks, drafts, notes, bills, or exchange, or other evidences of debt, or orders for the payment of money at any time belonging to, or in the possession of the City, and that all endorsements for credit may be made by the written or stamped endorsement of the City without designation of the person making the same. ARTICLE 4. That Bank, as a designated depository of the City, is requested, authorized and directed to honor checks, drafts or other orders for the payment of money drawn in the City's name in accordance with Article 2 and/or Article 3 above when bearing or purporting to bear the facsimile signature of any one of the following officers or agents of the City: FACSIMILE 1. Albert M. Spradling, III 2. Mary F. Thompson 3. John R. Richbourg and Bank shall be entitled to honor and to charge the City for all such checks, drafts or other orders, regardless of by whom or by what means the facsimile signature thereon may have been affixed thereto, if such facsimile signature resembles one of the facsimile signatures duly filed with Bank. These individuals will provide their facsimile signatures on a Bank Signature Card. ARTICLE 5. That Bank is authorized and directed to honor, execute and process the written, telephonic and/or verbal requests for the transfer of funds from the accounts of the City to other accounts of the City or to third parties, upon and subject to such terms and conditions as may from time to time be agreed upon between the City and Bank; and any one of the following officers or agents of the City: 1. John R. Richbourg 2. Mary F. Thompson 3. Kendra L. Boos FUNDS TRANSFERS (Signature) 1,4 4 , 0, IJ A r7q'14 'An' (Signature (Signature) is authorized, for and in the name of the City, to execute agreements with the Bank providing for such funds transfers, to make and verify requests for such funds transfers, and to designate in writing other authorized officers or agents to make and verify requests for such funds transfers, and Bank shall be entitled to honor and charge the City for all such requests for funds transfers when given or purported to be given by any one of the above officers or agents or by any other officer or agent designated in writing by any one of the above officers or agents. 2 ARTICLE 6. That any one of the persons designated in Article 5 above is authorized to pledge and deliver any of the stocks, bonds, bills receivable or other property of the City and to execute and deliver real estate mortgages or deeds of trust on real property of the City and to execute and deliver chattel mortgages, security agreements or other forms of Security instruments covering property of the City, together with such stock powers, assignments or other instruments which might be necessary to permit such property to be sold, liquidated or otherwise disposed of by Bank, all for the purpose of securing any monies borrowed and/or any such bills receivable discounted and/or any other liability of the City to Bank upon such terms as any of such persons may designate, and each of such persons are authorized to receive and receipt for any and all securities property, evidence of debt, or property of the City which may be delivered to Bank as security for safekeeping or otherwise. ARTICLE 7. That any one of the following officers or agents of the City is authorized to buy, sell, assign, transfer and/or deliver any and all stocks, bonds or other securities now owned or hereafter acquired and registered in the name of the City or its nominee(s): SECURITIES 1. John R. Richbourg n 1= 1R_a.'e' (Signature) 2. Mary F. Thompson (Signature) ARTICLE S. That any one of said persons designated in Article 7 above is authorized to effect securities safekeeping transactions with Bank, to wit: to execute a Safekeeping Agreement; to give Bank instructions required to buy, sell or otherwise deal in securities; to receive, withdraw, receipt for and direct the disposition of money, securities and property of every kind held in safekeeping with Bank; to receive any communication from Bank; to enter into Repurchase Agreements with Bank; to enter into any other agreement(s) with Bank relating to or dealing in securities or investments; and to execute any documents relating to any of the foregoing matters. ARTICLE 9. That any one of the following officers or agents of the City is authorized to identify and implement cash management and/or other general banking services for the benefit of the City upon and subject to such terms and conditions as may from time to time be agreed upon between the City and Bank, and to enter into any agreements with Bank relating to or dealing with such cash management and/or other general banking services: 3 .g - 1. John R. Richbourg 2. Mary F. Thompson 3. Kendra L. Boos GENERAL SERVICES r4J k7'.�� ARTICLE 10. That the foregoing Articles shall remain in full force and effect until written notice of their amendment or recission shall have been received and acknowledged by an officer of Bank and that receipt of such notice shall not affect any action taken by the Bank prior thereto. ARTICLE 11. The City's Tax ID No. 43-6000593. PASSED AND ADOPTED THIS DAY OF,TYx ����? , 2000. A. M4 Spradli ATTEST: � Q C lilad C� Gayle CL. Conrad, City Clerk & 4 or