Item No: 4.C.5.
Meeting Date: June
11, 2012
From: Gladys
Johnson, Interim Finance Director
Subject: Resolution authorizing the Mayor and City
Clerk to execute Change of Authorized Signatories on all certificates of
deposit at BB&T.
Staff Recommendation:
Staff
Recommends approval of the resolution authorizing a change of authorized
signatories of those eligible to enter into a deposit agreement with BB&T.
Analysis:
The
City of Leesburg, with professional input from the City’s Investment Manager,
from time to time, enters into deposit agreements with BB&T for purposes of
investing the City’s money. BB&T has
requested the City execute a “Resolution and Agreement for Deposit Account” to
identify persons eligible to enter into a deposit agreement with BB&T. The requested action is necessary to change
the names of the individuals so authorized to enter into a deposit agreement in
the name of the City Commission of the City of Leesburg, Florida, with BB&T
due to the resignation of Jerry Boop, former Finance Director. Signature card changes occur whenever there
is a change in City Manager and/or Finance Director.
Options:
- Approve the attached resolution
authorizing a change of authorized signatories of those eligible to enter
into a deposit agreement with BB&T, or
- Such alternative action as the
Commission may deem appropriate
Fiscal Impact:
None
Submission Date and Time: 6/7/2012 11:29 AM____
|
Department: ___Finance_____ Prepared
by: Gladys Johnson Attachments: Yes____ No ___x_ Advertised:
_____ Not Required_x__
Dates: June 11, 2012 Attorney
Review : Yes___ No __x_
______________________________ Revised 6/10/04 |
Reviewed by: Dept. Head ________ Finance Dept. __________________ Deputy
C.M. ___________________ Submitted
by: City Manager ___________________
|
Account
No. _________________ Project
No. ___________________ WF No.
______________________ Budget ______________________ Available
_____________________ |
RESOLUTION NO._______________
RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF LEESBURG, FLORIDA, AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE CHANGE OF
AUTHORIZED SIGNATORIES ON ALL CERTIFICATES OF DEPOSIT AT BB&T; AND PROVIDING AN EFFECTIVE DATE.
BE IT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF LEESBURG, FLORIDA:
WHEREAS, BB&T, whose address is BB&T Capital Markets – Fixed Income, 901 E. Byrd
St., 3rd Floor, Richmond, VA 23219, 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 Finance
Director as a result of the resignation of Jerry Boop effective January 31,
2012, and,
WHEREAS,
the Commission, in and for the City of Leesburg, desires to authorize a change
of signatories as required by BB&T to honor all deposit agreements in the
name of the City of Leesburg on its certificates of deposits at BB&T, and,
WHEREAS,
BB&T has requested that the Commission provide a sample of the signatures
of the City Manager, Interim Finance Director, and Financial Reporting Manager
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:
THAT,
the City of Leesburg hereby authorizes the changes in signatories to honor all
deposit agreements in the name of the City of Leesburg on its certificates of
deposits held at BB&T, as follows:
Jay Evans, City Manager
City of Leesburg, Florida
Gladys Johnson, Interim Finance
Director
City of Leesburg, Florida
John Van Horn, Financial Reporting
Manager
City of Leesburg, Florida
THAT,
BB&T is being provided a sample of the signatories of the aforementioned
authorized persons.
THAT,
upon adoption by the Commission in open session, this resolution shall be made
part of the Public Records of the City of Leesburg, Florida, and a copy hereof
shall be furnished to BB&T.
THAT
this resolution shall become effective immediately.
PASSED
AND ADOPTED by the City
Commission of the City of Leesburg, Florida, at a regular meeting held the __11th___
day of June, 2012.
__________________________
Mayor
ATTEST:
__________________________
City Clerk