AGENDA MEMORANDUM

 

 

Meeting Date: January 24, 2011

 

From: Jerry Boop, CPA, CGFOA, Finance Director

 

Subject: Resolution Authorizing a Change of Authorized Signatories on All Bank Accounts at SunTrust Bank

 

 

Staff Recommendation:

Staff recommends approval of the resolution authorizing a change of authorized signatories on all bank accounts at SunTrust Bank.

 

Analysis:

The requested action is necessary to change the names of the individuals authorized to sign all checks, drafts, or other orders for the payment of money drawn in the name of the City Commission of the City of Leesburg, Florida, on its demand deposits, time deposits, and savings accounts at SunTrust Bank. Signature card changes occur whenever there is a change in Mayor, City Manager and/or Finance Director.

 

Options:

1.                  Approval of the attached resolutions authorizing a change of authorized signatories on all bank accounts at SunTrust Bank, or

 

2. Such alternative action as the Commission may deem appropriate.

 

Fiscal Impact:

None

 

 

Submission Date and Time: 1/19/2011 4:22 PM____

 

Department: ___Finance______________

Prepared by: __Finance ____________

Attachments: Yes____ No ______

Advertised: ____Not Required ______

Dates: __________________________

Attorney Review : Yes___ No ____

_________________________________

Revised 6/10/04

 

Reviewed by: Dept. Head __JB____

 

Finance Dept. _____JB___________

Deputy C.M. ___________________

Submitted by:

City Manager ___________________

 

Account No. _________________

 

Project No. ___________________

 

WF No. ______________________

 

Budget ______________________

 

Available _____________________


 

RESOLUTION NO._______________

 

A RESOLUTION OF THE CITY OF LEESBURG CITY COMMISSION, AUTHORIZING A CHANGE OF SIGNATORIES AS REQUIRED BY SUNTRUST BANK TO HONOR ALL CHECKS, DRAFTS, OR OTHER ORDERS FOR PAYMENT OF MONEY DRAWN IN THE NAME OF THE CITY OF LEESBURG; AND PROVIDING A SAMPLE OF SAID INDIVIDUALS SIGNATURE;  AND PROVIDING AN EFFECTIVE DATE.

 

BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA:

 

            WHEREAS, SunTrust Bank N.A., whose address is SunTrust Bank, N.A., 200 S. Orange Avenue, SOAB 6, Orlando, FL 32801 has qualified as a City depository pursuant to the provisions of Chapter 280, Florida Statutes; and,

 

            WHEREAS, inasmuch as the City of Leesburg has changed the responsibilities of Mayor at the organizational meeting dated January 3, 2011, and,

 

            WHEREAS, the Commission, in and for the City of Leesburg, desires to authorize a change of signatories as required by SunTrust Bank to honor all checks, drafts and other orders for payment of money drawn in the name of the City of Leesburg on its demand deposits, time deposits and savings accounts at SunTrust Bank, N.A.

 

            WHEREAS, SunTrust Bank, N.A. has requested that the Commission provide a sample of the signatures of the Mayor, City Manager, and Finance Director of the City of Leesburg, Florida to facilitate the above referenced transactions. 

 

            NOW THEREFORE, BE IT RESOLVED by the Commission, in and for the City of Leesburg, Florida as follows:

 

1.         That, the City of Leesburg hereby authorizes the changes in signatories to honor all checks, drafts, or other orders for payment of money drawn in the name of the City of Leesburg, as follows:

 

Bill Polk, Mayor

City of Leesburg, Florida

 

Jay Evans, City Manager

City of Leesburg, Florida

 

Jerry Boop, Finance Director

City of Leesburg, Florida

 


 

2.    That, SunTrust Bank, N.A. is being provided a sample of the signatories of the aforementioned authorized persons.

  

3.    That, upon adoption by the Commission in open session, this resolution shall be made a part of the Public Records of the City of Leesburg, Florida, and a copy hereof shall be furnished to SunTrust Bank, N.A..

 

4.    This Resolution shall take effect immediately.

           

            PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a regular meeting held the _24th___ day of January, 2011

                                                                      

 

     _________________________________

                                                                             Mayor

ATTEST:

 

 

_____________________________________

City Clerk