AGENDA MEMORANDUM

 

Meeting Date:           May 14, 2007

 

From:                          Bill Pfeilsticker, Finance Director

 

Subject:                      Resolution Designating Authorized Signatories on the SunTrust Bank

                                    Payroll Account, Central Claims Account, Venetian Cove Marina

                                    Account and Flexible Spending Account and Authorizing Payment of

                                    Money Drawn on Those Accounts

 

Staff Recommendation:

Staff recommends immediate adoption of the proposed Resolution authorizing signatures on bank accounts.

 

Analysis:

The proposed Resolution designates the current Mayor, Interim City Manager, and Finance Director as authorized signatories for the following described Suntrust Bank accounts.

 

The proposed Resolution also authorizes Suntrust Bank to honor all checks, drafts, or other orders for payment of money drawn in the name of the City of Leesburg on the following described accounts and to charge for transactions on those same accounts.

 

Due to the recent change in City management, Suntrust is currently honoring bank transactions in the described accounts without proper documentation. Therefore, it is important that the proposed designation of authority described by the resolution take effect immediately upon passage.  

 

Accounts at Suntrust Bank:

            City of Leesburg Payroll Account

City of Leesburg Central Claims Account

City of Leesburg Venetian Cove Marina Account      

City of Leesburg Flexible Spending Account

 

Authorized signatories:

            Sanna Henderson, Mayor

            Jay Evans, Interim City Manager

            William Pfeilsticker, Finance Director

 

Options:        

1.   Adopt the resolution as presented; or

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

 

 

Fiscal Impact

None

 

 

 

Submission Date and Time:    5/11/07 1:48 PM5/9/07 1:34 PM____

 

Department: ______________________

Prepared by:  ______________________                     

Attachments:         Yes____   No ______

Advertised:   ____Not Required ______                     

Dates:   __________________________                     

Attorney Review :       Yes___  No ____

                                                

_________________________________           

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.______

 

A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA, AUTHORIZING SUNTRUST BANK TO HONOR ALL CHECKS, DRAFTS, OR OTHER ORDERS FOR PAYMENT OF MONEY DRAWN IN THE NAME OF CITY OF LEESBURG PAYROLL ACCOUNT, CENTRAL CLAIMS ACCOUNT, VENETIAN COVE MARINA ACCOUNT, AND FLEXIBLE SPENDING ACCOUNT; AUTHORIZING SUNTRUST BANK TO HONOR AND CHARGE THE CITY COMMISSION FOR ALL SUCH ORDERS FOR PAYMENT OF MONEY; DESIGNATING THE INDIVIDUALS AUTHORIZED TO ISSUE ORDERS FOR THE PAYMENT OF MONEY ON BEHALF OF THOSE DESCRIBED CITY OF LEESBURG ACCOUNTS, 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 has qualified as a City depository pursuant to the provisions of Chapter 280, Florida Statutes; and,

 

            WHEREAS, inasmuch as SunTrust Bank has been designated as a qualified depository for City of Leesburg Funds, the City Commission desires by means of this resolution to authorize said depository to honor all checks, drafts, or other orders for the payment of money drawn in the name of the City of Leesburg, Florida Payroll Account, Central Claims Account, Venetian Cove Marina Account, And Flexible Spending Account;

 

            WHEREAS, the City Commission, in and for the City of Leesburg, Florida desires to authorize SunTrust Bank to honor and charge the City Commission for all such checks, drafts, or other orders the payment of money; and,

 

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

 

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

 

1.                  That SunTrust Bank as a designated depository of the City of Leesburg, Florida, is hereby requested, authorized, and directed to honor all checks, drafts, or other orders for the payment of money drawn in the name of the City of Leesburg, Florida Payroll Account, Central Claims Account, Venetian Cove Marina Account, and Flexible Spending Account, including those drawn by the Mayor, City Manager and Finance Director when bearing or purporting to bear the actual or facsimile signature of any two of the following individuals:

 

Sanna Henderson, Mayor

City of Leesburg, Florida

 

Jay Evans, Interim City Manager

City of Leesburg, Florida

 

William Pfeilsticker, Finance Director

City of Leesburg, Florida

 

2.                  That SunTrust Bank is hereby entitled to honor and to charge the City Commission of the City of Leesburg, Florida for all such checks, drafts, or other orders for payment of money, regardless of by whom or by what means the actual or purported facsimile signature or signatures thereon may have been affixed thereto if such signature or signatures resemble the specimens above.

 

3.                  That this authorization for the honoring of checks, drafts, or other orders for the payment of money drawn on demand deposits, time deposits, or savings accounts of the City Commission of the City of Leesburg, Florida Payroll Account, Central Claims Account, Venetian Cove Marina Account, And Flexible Spending Account is cumulative, and the authority granted hereby is not limited by any previous authorization.

 

4.                  That, upon adoption by the City 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.

 

5.                  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 14th day of May 2007.

 

 

 

                                                                            __________________________

                                                                             Mayor

 

ATTEST:

 

 

__________________________

City Clerk