Description: AGENDAHED.JPG

Item No: 4.C.1.D.

 

Meeting Date: August 27, 2012

 

From: Gladys Johnson, Deputy Finance Director

 

Subject: Resolution authorizing the Mayor and City Clerk to execute change of authorized signatories on all certificates of deposit held at Branch Banking & Trust, Co. (BB&T).

 

 


Staff Recommendation:

Staff recommends adoption of the proposed BB&T Resolution for Deposit authorizing signatures on Certificates of Deposit.

 

Analysis:

The requested action is necessary to change the name(s) and/or title of the individual(s) authorized on the accounts. Signature changes occur whenever there is a change in Mayor, City Manager, and/or Finance Director.

 

Options:

1. Approval of the attached resolution authorizing a change of authorized signatories on the accounts at BB&T;

2. Such alternative action as the Commission may deem appropriate

 

Fiscal Impact:

None

 

Submission Date and Time: 8/23/2012 11:46 AM____

 

Department: __Finance_____________

Prepared by: Gladys Johnson_______

Attachments: Yes_X__ No ______

Advertised: ____Not Required __X___

Dates: __________________________

Attorney Review : Yes___ No __X_

_________________________________

Revised 6/10/04

 

Reviewed by: Dept. Head ________

 

Finance Dept. __________________

Deputy C.M. ___________________

Submitted by:

City Manager ___________________

 

Account No. __N/A____________

 

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 BRANCH BANKING & TRUST, CO. (BB&T); AND PROVIDING AN EFFECTIVE DATE.

 

 

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

 

WHEREAS, Branch Banking & Trust Co. (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 hired a new Finance Director effective July 30, 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, Finance Director, Deputy 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

 

William Spinelli, Finance Director

City of Leesburg

 

Gladys Johnson, Deputy Finance Director

City of Leesburg

 

John Van Horn, Financial Reporting Manager

City of Leesburg

 

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 27 day of August, 2012.

 

 

 

__________________________

Mayor

 

ATTEST:

 

 

__________________________

City Clerk