HomeMy WebLinkAboutRes 2006-13 Relating to signatures on checks
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RESOLUTION NUMBER 2006-13
A RESOL'UTION RELATING TO SIGNATURES ON CHECKS DRA WN ON CITY
ACCOUNTS; AUTHORIZING SUCH SIGNATURES AND AUTHORIZING USE OF
FACSIMILE SIGNA TU'RES; AUTHORIZING THE CITY T,REASURER TO RATIFY
CERTAIN SIGN'ATURES; AND CONTAINING FINDINGS AND PROVISIONS
RE:LA TIN'O TO THE SUBJECT.
WHEREAS, the City of West University Place (the "City") req'uires all checks to
be signed, by the City Treasurer and at least one other officer; and
WHEREAS, the City requires all authorized officer to sign any withdrawal notice
before securities 'held by the Federal Reserve Bank as collateral for the City's deposits
may be released;
NOW, THEREFOR'E, BE IT RESOLVED BY T'HE CITY COUNCIL O'F TH'E
CITY OF WEST UNIVERSITY PLACE, TEXAS:
Section 1. City Treasurer Walter Thomas is authorized to sign chec'ks drawn
on all City accounts held by the depository, if the checks are co-signed by one of the
following:
A. Burt Ballanfant, Mayor
B~ Phyllis Cohen, Mayor Pro Tern
C. Michael Ross, City Manager
D. M. Christop,her Peifer
Section 2. All signatures authorized in Section lluay be signed either
man'ually or by facsimile in accordance with article 717 J -1 of the Texas Unifonn
Facsimile Signature of Public Officials Act, Chapter 618 of the Texas Government Code.
Section 3. The following officers are authorized to release any securities held
by the Federal Reserve Bank, provided that the aggregate market value of pledged
securities lleld by the Federal Reserve Bank must be at least 102% of the Depository's
required collateral value (the amount of collected funds on deposit with the depository
increased by accrue<! but uncredited interest reduced by the portion of funds insured by
the FDIC):
A. Walter Tholnas, Finance Director/City Treasurer
8" Michael Ross, City Manager
C. ME Christopher Peifer
Section 4~ All resolutions and parts of resolutions in conflict herewith, are hereby
repealed to the extent of the conflict only.
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Section 5. If any word, phrase, clause, sentence, paragraph, section or other part
of this resolution or~ the application thereof to any person or circumstance, sllalI ever be
held to be invalid or unconstitutional by any court of COlnpetent jurisdiction, the
remainder of tllis resolution and the application of such word, phrase, clause, sentel1ce,
paragraph, section, or other pali of this resolution to any other person or CirCUlTIstances
shall not be affected thereby.
Section 6. TIle City Council officially finds, determines and declares that a
sufficient written notice of the date, hour, place and subject of each meeting at which this
resolution was discussed, considered or acted u,pon was given in the manner required by
the Texas Open Meetings Act, as amel1ded, and that each such Ineeting has been open to
the public as required by law at all times during such discussion, consideration and
action. The City Council ratifies, approves and confinns such notices and the contents
and posti11g tl1.ereof.
Section 7. This notice shall take effect immediately upon its ado,ption and
signature~
PASSED, APPROVED AND ADOPTED on ~~ //
2006~
Signed:
ATTEST: (SEAL)
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