HomeMy WebLinkAboutRESO 6566. . • •
RESOLUTION NO. 6566
RBSOLUTION OF THE COUNCIL~O~F~T~H~E~C~I~T~Y~OF PALO ALTO
AUTBORIZING TH~ OPENING o~ A BANK ACCOUNT FOR THE CITr OF
PALO ALTO GENERAL/AUTO LIA~ILIT1 PLAN A~D
AUT~ORIZING CERTAIN SIGNATURES AND PROCEDURES
ORIGINAL
~HEREAS~ the City of Palo Alto is a municipal corporation duly
organized and operating under a charter pursuant to thJ constitution
and laws of the State of California1
NOW, THEREFORE, th~ Council of the Cit7 of Palo Alto does hereby
RESOLVE as follows:
SEC"tION 1. That the Crocker National Bank (Bank) i~ hereby
selected and designated ae a depositary of (unds of this ~r.ganization
and that such deposit ac-.:ou!'lt or accounts b•l established and
maintained by and in the name of this organizati~n and at such office
or offices of the Bank and upon and subject to such terms ~nd
conditions as the City of Palo Alto may from ~i•e to time agree upon
~ith the Bank7 and
SECTION 2. That all checks, drafts, orders, receipts, and other
instruments drawn, accepted or given by tais organization for ~ayment
from any su~h acccunt or at any such office b~ signed on behalf of
this organization by the following perscns designated by na~e or
organizational title viz:
Rodger Hayton
Li"lda MacDonald
SECTION 3. ThLt the Bank may accept for deposit or collection
any check, draft, order, or other inst~Wllent for the payment of money
whether or not endorsed in the name of this o:..:3aniz~tion by written or
:;tamped endorsement and with or without designa.t.ion or signature of
the person making auch andocsement1
SECTION 4. That the Bank be and hereby is requested and
authorlzea to honor, receive. certify or P<lY any such C~'eck, d!:aft,
or, recGipt or othec instru•ent signed or endorsed in ac~ordance with
the foregoing resol~tions and the certification then in effect as
provid~d for in these resolutions, including any thereof presented for
neyotiation, encastuaent, or payment by, or drawn or endorsed to the
personal order of any ~erson signing or endorsing the saae1
SECTION s. Lhat the City Clerk, or any M.sistant City Clerk of
this organization be and hereby is authorized and directed to certify
to the Bank that these resolutions have been duly adopted and are in
conformity with the charter and by-laws or other governinq instrument
cf this ocg~nizati~n and fu~ther to certify to the Bank a copy of
• • •
these resolutions, the names and specimen signatures of the present
officers and other persons of this organization aut .. >rized to sign as
aforesaid, a~d the fact of any change of the persons herein design~ted
by ~itle together with the name and specimen signature of the
successor1 and
SECTION 6. That these resolutions and ~ach such certification
shall remain in full force and effect, and the Bank is authorize~ and
requested to rely and act thereon and shall be indemnified and saved
harmless f~om all liability and loss incurred by it in continuing to
act in pursuance of these resolutions (even though they may have been
changed) until it shall receive at its office, or offices if more than
one, to which a certified copy of these resolutions is delivered,
either a certified copy of a further resolution of the City council
am~~ding or rescindi~g these resolutivns or a further c~rtification as
above provid.:!d for, as the case may be; and the Bank is authorized to
honor any instrument and ~greem~nt signed by any n~w person in respec~
of whom it has recei'!ed any new ce.:-tification as succ("sor \i'ith the
same force and effect as if said new person were named' in the
foregoing resolutior~.
INTRODUCED AND PASSED: October 5, 1986
AYES: Bechtel. Cobb, Fletcher, Kle;n, Levy, Patitucci, Renzel, Sutorius,
Woolley
NOES: None
ABSTENTIONS: None
ABS ENT: None
APPROVE:D: ~~
APPROVED lt.S TO FORM:
A: PROVED:
Director of Finance
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