AGENDA MEMORANDUM

 

 

Meeting Date: January 26, 2009

 

From: Jerry Boop, CPA, CGFOA, Finance Director

 

Subject: Resolutions 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 will 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

 

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

 

Submission Date and Time: 1/21/2009 4:22 PM____

 

Department: _Finance________________

Prepared by: _Colette________________

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. _______EFS_________

Submitted by:

City Manager ___________________

 

Account No. __N/A_____________

 

Project No. __ N/A_____________

 

WF No. ____ N/A_____________

 

Budget ______N/A______________

 

Available _____N/A______________


 

 

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, whose address is SunTrust Bank, 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 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 a sample of the signatures of the Mayor, City Manager, Finance Director, and Deputy 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:

 

Lewis Puckett Mayor

City of Leesburg, Florida

 

Jay Evans, City Manager

City of Leesburg, Florida

 

Jerry Boop, Finance Director

City of Leesburg, Florida

 

Gladys Johnson

Deputy Finance Director

 

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 _26th____ day of January, 2009.

                                                                      

 

     _________________________________

                                                                             Mayor

ATTEST:

 

 

_____________________________________

City Clerk