203 Employees Of The City Empowered To Withdraw Such FundsCITY OF YELM
RESOLUTION NO. 203
A RESOLUTION relating to the conduct of municipal
government, the management, deposit, and vithdraral of the public
funds thereof; designating a depository for certain funds of the
City; and further designating those officers or employees of the
City empowered to rithdrar or access ouch funds, and the number
of eignatore required to obtain such access or rithdraral; and
declaring an effective date.
WHEREAS, certain funds of the City of Yelm have been
and nor are deposited in an account in the name of this
municipality in Prairie Security Hank, a commercial bank, and it
is anticipated that this practice rill continue; and
WHEREAS, both the banking depository and the people of
the City of Yelm have a cowmon interest in designating the
officers empowered to access, and the means of accessing such
monies nor or hereafter deposited in the said bank; nor,
therefore,
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF YELM, ae
follors:
Section 1. Designation of Depository. Prairie Security Bank, a
commerclal bank, is hereby selected and designated ae a bank of
and the depository for certain Lunde of the City of Yelm in such
accounts and funds as may now or hereafter be necessary or useful
to the City for the management, access, end investment thereof,
all according to Lhe provisions of applicable lee.
Section 2. Designation of Municipal Officers Authorized to
Execute Withdraral or Payment Orders. Checks, drafts, or advices
of debit, other and further rithdrarals or directions of
municipal funds deposited in said bank may be executed by the
holders of the folloring elective or appointive municipal
offices, or their successors after election or appointment end
qualification, provided that the bank be notified in rriting of
such formal succession:
Mayor of the City of Yelm
Pro Tempore of the City of Yelm during an absence by
the elected Mayor
Treasurer of the City of Yelm
Secretary (Clerk) of the City of Yelm
Deputy Clerk in absence of the Clerk and/or Treasurer
PROVIDED, HOWEVER, that no such check, draft, order or other
document directing the rithdraral, payment, or other use of such
fund e, or any part thereof, shall be effective, nor shall any
such instrument of instruction be honored by the bank unless the
signatures of the Mayor or Mayor Pro Tempore and either the
Treasurer, Secretary or Deputy Clerk of the City shall appear
thereon.
Section 3 Breadth of Authority. The authority of the officers
named in Section 2 of this Resolution to direct deposited funds
shell include porer to dray and accept drafts and execute
contracts and other agreements betreen the bank and the City of
Yelm, and to make, collect, discount, negotiate, endorse and
assign, in the name of the municipal corporation, ell checks,
drafts, notes, end other paper payable to or by the City of Yelm;
and ell such paper, signed aforesaid, including checks payable to
the order of any one or more of said persons or to bearer shall
be honored by the bank and charged to the appropriate account of
the City of Yelm. EndoreemQnts for deposlt may be made Dy rubber
stamp end shall bind the municipality to the Hume effect nu
ll~uuVh al~ua~l 4y ll~a la,uy.ai ly oulhu~ lcc.l u(fl~•v~ 101, '1'I~lo
authority shall continue 1n force until notlc:r of ltd
Page One of Tro
RESOLUTION 203
Page Two and Last
modification or revocation shall have Deen given to and received
by the bank. This authority shall apply to and govern all
accounts which this municipality may now or hereafter open or
maintain with bank, and for which no separate and more limited
resolution of authority has been passed, provided to and received
Dy the bank.
If said account checks, obligations. and orders for the payment
of money referred to herelnbefore are signed by the use of the
facsimile signature(s) of the authorized signer(s), the City of
Yelm assumes full responsibility for any and all payments made by
the bank in reliance upon said facsimile signature(s) and agrees
to indemnify and hold harmless said Dank against any and all
lose, cost, damage, or expense suffered or incurred by bank
arising out of the misuse or unlawful or unauthorized use by any
person or such facsimile signatures; PROVIDED, HOWEVER, that no
such facsimile signature shall be honored by bank, nor shall any
agreement to indemnify or pay losses or costa as set forth
hereinbefore to be effective, unless end until a specimen of said
facsimile signature shall have been furnished to bank; AND
PROVIDED FURTHER, that in the event such a facsimile signature be
provided to bank, bank shall be entitled to rely upon the same to
the same extent ae an original signature, unless and until ar,
amended facsimile, or a revocation of authority to utilize such
facsimile, shall have been provided to and received by bank.
Section 4. Effect of Bank Rules and Regulations and Applicable
Lave. The City of Yelm agrees to De bound by ell lawful rules
and regulations governing accounts in the Prairie Security Benk
and any amendments, modifications. or additions thereto after
notification and actual receipt of the same in writing, which
bank agrees to provide within ten (10> business days hereof, and
within the same period after any modification thereof shall
become effective.
Section 5 Authorization to Execute Signature Card. The officers
authorized herinDefore to draw upon and direct Sunda deposited 1n
bank are further authorized and empowered to execute, on behalf
of the City of Yelm, to execute bank; signature card(s), with
respect to each account upon which they have authority to sign
instruments, and to bind the municipality to the lawful rules and
regulations of the bank governing seld accounts. subject to the
above notification requirements.
Section 6 Effective Date. This resolution shall be effective on
and after the 24th day of January, 1990.
Passed: January 24, 1990
Approved: January 24, 1990
Published: (by summary) February 1, 1990
L-~
obert A. Sanders, tfayor of the City of Yelm
ATTEST:
,v~/ _
Shelly Ba gar, City ark
Tbwn of Yelm
105 Yelm Avenue West
P.O. Box 479
Yelm, Washington 98597
206-458-3244
PUBLIC NOTICE
CITY OF YELM, WASHINGTON
SUMMARY OF RESOLUTION 203
A RESOLUTION relating to the conduct of municipal govern-
ment, the management, deposit,, and withdrawal of the public
funds thereof; designating a depository for certain funds
of the City; and further designating those officers or
employees of the City empowered to withdraw or access
such funds, and the number of signators required to obtain
such access or withdrawal; and declaring an effective date.
SECTION 1: Designation of Depository
SECTION 2: Designation of Municipal Officers Authorized
to Execute Withdrawal or Payment Orders
SECTION 3: Breadth of Authority
SL•'CTION 4: Effect of Bank Rules and Regulations and Appli-
cable Laws
SECTION 5: Authorization to Execute Signature Card
Effective Date: This resolution shall be effective on
and after the 24th day of January, 1990.
Duly passed and approved by the Council of the City of
Yelm, this 24th day of January, 1990.
Honorable Robert A. Sanders, Mayor
ATTEST: Yelm City Clerk
Completed copies of Resolution No. 203 are on file and
can be obtained at Yelm City Hall, 105 Yelm Avenue West,
Monday-Friday, 8 a.m. to 5 p.m.
Published: Nisqually Valley News, Thursday, February 1,
1990.