195 Conduct Of Municipal Government
TOWN OF YELM
RESOLUTION NO. 195
A RESOLUTION relating to the conduct of municipal
government, the management, deposit, and withdrawal of the public
funds thereof; designating a depository for certain funds of the
Town; and further designating those officers or employees of the
Town empowered to withdraw or access such funds, and the number of
signators required to obtain such access or withdrawal; and
declaring an effective date. .
WHEREAS, certain funds of the Town of Yelm have been
and now are deposited in an account in the name of this
municipality in Puget Sound National Bank, a commercial bank, and
it is anticipated that this practice will continue; and
WHEREAS, both the banking depository and the people of
the Town of Yelm have a common interest in designating the officers
empowered to access, and the means of accessing such monies now
or hereafter deposited in the said bank; now, therefore,
as follows:
BE IT RESOLVED BY THE COUNCIL OF THE TOWN OF YELM,
Section 1. Designation of Depository. Puget Sound National Bank,
a commercial bank, is hereby selected and designated as a bank of
and the depository for certain funds of the Town of Yelm, in such
accounts and funds as may now or hereafter be necessary or useful
to the Town for the management, access, and investment thereof, all
according to the provisions of applicable law.
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other and further withdrawals or directions of municipal funds
deposited in said bank may be executed by the holders of the
following elective or appointive municipal off ices, or their
successors after election or appointment and qualification,
provided t hat the bank be notified in writing of such formal
succession:
Mayor of the Town of Yelm
Pro Tempore of the Town of Yelm during an absence
by the elected Mayor
Treasurer of the Town of Yelm
Secretary of the Town of Yelm
PROVIDED, HOWEVER, that no such check, draft, order or other
document directing the withdrawal, payment, or other use of such
funds, or any part thereof, shall be effective, nor shall any such
instrument or instruction be honored by the bank unless the
signatures of the Mayor or Mayor Pro Tempore and either the
Treasurer or Secretary of the Town shall appear thereon.
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Section 3. Breadth of Authority. The authority of the officers
named in Section 2 of this Resolution to direct deposited funds
shall include power to draw and accept drafts and execute contracts
and other agreements between the bank and the Town of Yelm, and to
make, collect, discount, negotiate, endorse and assign, in the name
of the municipal corporation, all checks, drafts, notes, and other
paper payable to or by the Town of Yelm; and all such paper, signed
as 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 Town of Yelm.
Endorsements for deposit may be made by rubber stamp and shall bind
the municipality to the same effect as though signed by the
properly authorized officer(s). This authority shall continue in
force until notice of its modification or revocation shall have
been 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 by the bank.
• If said account checks, obligations, and orders for the payment of
money referred to hereinbefore are signed by the use of the
facsimile signature(s) of the authorized signer(s), the Town 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 bank against any and all loss,
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 costs as set forth hereinbefore be
effective, unless and 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 as an
original signature, unless and until an amended facsimile, or a
revocation of authority to utilize such facsimile, shall have been
provided to and received by bank.
Laws. The Town of Yelm agrees to be bound by all lawful rules and
regulations governing accounts in the Puget Sound National Bank,
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 hereinbefore to draw upon and direct funds deposited in
bank are further authorized and empowered to execute, on behalf of
th Town of Yelm, to execute bank's 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 said accounts, subject to the above notification
requirements.
Section 6. Effective Date. This resolution shall be effective on
and after the 12th day of January, 1989.
Passed: January 12, 1989
Approved: January 12, 1989
Published: January 19, 1989
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Ronald G. Lawton, Mayor of the Town of Yelm
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Shelly B ger, Town; Jerk
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