TC Res. No. 1997-11RESOLUTION NO. 97-11
SERIES OF 1997
A RESOLUTION AUTHORIZING THE FINANCE DIRECTOR THE AUTHORITY
FOR THE SIGNING OF CHECKS AND OTHER INSTRUMENTS
WHEREAS, The bid for the Town of Avon's depository banking a nd cash
management services was recently awarded to I' Bank of Avon based on their proposal;
and
WHEREAS, The Town of Avon desires to establish a new bank account structure
and take advantage of various banking and cash management services identified in the
Request for Proposal; and
WHEREAS, The establishment of these accounts and services requires the Town
to enter into agreements with I` Bank of Avon.
NOW, THEREFORE, BE IT HEREBY RESOLVED, that the Town Council of
the Town of Avon, Colorado, adopts the attached Corporate Resolution authorizing the
Town's Finance Director, Scott Wright, to sign checks and other instruments as identified
in the Corporate Resolution, and to enter into agreements on behalf of the Town to
implement additional banking and cash management services.
ADOPTED AND PASSED, this 28' day of January, 1997
TOWN OF AVON
By: A-e
VJaeFa*woett
A
Patty' Lambert, NMC
Town Clerk
353-052-2600 CORPORATE RESOLUTION
84-0771088
.353-052-2910 of Tax I.D. Number
353-052-2880 TOWN OF AVON
(Name of Company)
Account Number(s) PO BOX 975
news
AVON, CO 81620
P
TO FirctRank of Avon rBankh
The following resolutions were unanimously adopted by the Board of Directors of said Company.
L AUTHORIZING SIGNING OF CHECKS AND OTHER INSTRUMENTS
1. 'RESOLVED, that any one of the following officers or employees of this Company be, and they hereby are authorized, in the name of the
Company, to collect, discokmt, negotiate, endorse and assign all checks, drafts, notes and other negotiable or non-negotiable Instruments payable to
the Company, or in which this Company has an interest, and to draw, sign and deliver, in the name of the Company, checks or drafts against the funds
of the Company on deposit in Bank.
2. RESOLVED, that any one of the following officers or employees may endorse, assign, transfer and deliver to Bank on behalf'of the Company
any checks, drafts, negotiable instruments, securities or other financial instruments payable to or for the benefit of the Company.
3. RESOLVED, that any one of the following officers or employees is authorized to enter into agreements on'behalf of the Company with Bank
to implement additional depository and funds transfer services, including but not limited to facsimile signature authorizations and agreements, wire
transfer agreements, automated clearinghouse agreements, merchant bank card agreements and payroll deposit programs. By signing this
authorization, the persons signing beiow'acknowtedge receipt of a copy of the Deposit Account, Automated Banking Card and Electronic Funds
Transfer Agreements. These, persons further agree to be bound by the terms of these agreements as well as all Rules and Regulations which may be
issued from time to time by Bank governing any banking service.
Only the officers or employees who are signers on the account(s) should sign In the
Finance Director
Mayor
Finance Officer
Jack Fawcett
Valerie McCoy
True Print Name Signature
Title Print Name Signature
IL BORROWING AUTHORIZATION
4. RESOLVED, that any NA of the following officers are authorized on behalf of the Company to borrow money and to obtain Ones of
credit from Bank. As collateral for ,arty existing or future credit obligations of the Company, these designated persons are further authorized to
encumber real and personal property and other assets owned by the Company. These designated persons are further authorized to execute and
deliver promissory notes, security instruments, loan documents, and other Instruments related -to borrowings of the oami pany. These designated
persons are further authorized to execute and deliver any agreement of guaranty, indemnity, hypothecation, pledge or other agreements in the name
of the Company which Bank may require in connection with credit extensions to the Company. These designated psrsms are further, authorized to
execute any agreement of guaranty, indemnity, hypothecation, pledge or other agreements on behalf of the Company with respect to the
indebtedness of others and to execute any agreement of guaranty, indemnity, hypothecation, pledge or other agreements on behalf of the Company
with respect to the indebtedness of others and to execute assignments and endorse such Instruments as may be necessary to assign or subordinate to
Bank any obligations or debts owed to the Company by other persons or entities.
The signature (s) of the authorized corporate officers are:
True Print Name Signature
Tide Print Name Signature
Title Print Name Signature
Title Print Name Signature
Title Print Name Signature
5. FURTHER RESOLVED, that any one of the above officers is authorized to certify to Bank that these resolutions have been duly adopted by
the Board of Directors of the Company. The Board of Directors further resolves and agrees that these resolutions will'bind tie Company until written
notice is delivered to Bank stating that the resolutions have been amended or revoked.
S._ FURTHER RESOLVED, that the authority of the aforesaid officers and employees to perform each and all of the i3bwers conferred by the
foregoing resolutions shall continue until notice in writing, terminating such authority, shall be served upon said Bank. and shall be noted upon the
certified copy of such resolutions delivered to said Bank.
NOTICE
The undersigned and each person signing above as an authorized person under Part I or Part 11 consents and agrees- that Banc may obtain a credit
report and any other information it considers appropriate concerning the Company as well, as any of the authorized persons in their personal
capacities. }
The undersigned officer(s) of the Company hereby certify that the above resolutions were unanimously acioritea in accoraanerwitn applicable law at a
meeting of the Board of Directors of the Company duly called and held on January 28, 1997 and that these resolutions
have not been modified or rescinded in any manner. The undersigned further certify that all of the person`s signing above ari duly-elected officers or
otherwise authorized to act on behalf of the Company in the capacities described, and that all of the original signatures contatied in this resohnIon are
genuine in all respects.
Executedon January 29, 1997
- SEAL
z c Mayor
Signature Tide
i
Signature Title
IPOWS/011e P/M