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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.