RES-7940 Establishing Contractual Procedure for Wire TransfersRESOLUTION NO. 7940
A RESOLUTION OP THE CITY COUNCIL OP
THE CITY OP ORANGE AUTHORIZING THE
TREASURER AND THE PINANCE DIRECTOR TO
ESTABLISH A CONTRACTUAL PROCEDURE POR
WIRE TRANSPERS OP PUNDS WITH THE BANK
OP AMERICA.
WHEREAS, Bank of America National Trust and Savings
Association has been selected as the City's Agent bank for
purpose of wire transfers of funds, and
WHEREAS, the provision for transfers of funds by confirmed
telephone or other oral communication will provide City financial
personnel with needed flexibility to act promptly in transferring
funds; and
WHEREAS, the city Council has examined the proposed Funds
Transfer Agreement and finds it to be appropriate and in the best
interests of the city.
NOW, THEREPORE, BE IT RESOLVED THAT
This Resolution certifies that the City of Orange is a
California municipal corporation.
RESOLVED FURTHER, that the City authorizes the persons
designated in Schedule A annexed hereto as "Authorized Persons"
and their successors in office, to give instructions orally
including by telephone) to Bank of America National Trust and
Savings Association ("Bank"), to make funds transfers under the
terms of the Funds Transfer Agreement between the Bank and the
City. For purposes of these resolutions, "funds transfer" means
a transfer of funds by wire or by other similar means in any
amount from any account of the city to any other account(s) at
Bank or at any other financial institution for credit to City or
to any person, partnership, corporation, public agency or
association.
RESOLVED PURTHER that the City also authorizes anyone of
the Authorized Persons:
a) To delegate the authority granted to them to give oral
instructions to make funds transfers to one or more persons
each, a "Designated Caller"). Such delegation shall be
accomplished by delivering to Bank a letter or other written
notice signed by an Authorized Person listing the name and title
or position of such Designated Caller.
b) To revoke the authority granted to any Designated
Caller. Such revocation shall be accomplished by delivering to
Bank a letter or other written notice signed by an Authorized
Person listing the name and title or position of such Designated
Caller.
c) To execute such agreements or documents as Bank may at
any time request (and all renewals or amendments thereto)
regarding funds transfers including the Funds Transfer Agreement.
RESOLVED FURTHER that until the Bank receives written notice
from an Authorized Person adding or deleting Designated callers,
each of the persons listed as a Designated Caller in Schedule A
annexed is authorized to give instructions orally (including by
telephone) to Bank to make funds transfers pursuant to the terms
of the Funds Transfer Agreement.
RESOLVED FURTHER that the Bank is authorized to act and rely
on this Resolution until it actually receives written notice of
its revocation.
ADOPTBD this 11th day of February 1992.
GENE BEYER, Mayor of the city of Orange
9z/~{ IlvUvL a:J
By: -~
ayor
Pro Tem ATTBST:
ci&
11:~ ~ ~C(;~/~ge I
hereby certify that the foregoing Resolution was duly and regularly
adopted by the city Council of the City of Orange at a regular
meeting thereof held on the 11 th of February, 1992, by the
following vote:AYES:
NOES:
ABSENT:
COUNCIL
MEMBERS:COUNCIL
MEMBERS:COUNCIL
MEMBERS:STEINER,
BARRERA, COONTZ, SPURGEON NONE
MAYOR
BEYER pg~~~
cityCler0yof Orange RESO
No. 7940 2-dg
Attachment Reso 7940
SCHEDULE A Authorized Persons
List and specimen signature of each person authorized to delete or add persons to the list of "Designated Callers," to
give instructions regarding funds transfers, and olherwise act as described in Resolutions 2 and 3.
SPECIMEN
i NAME (Type or Print) SIGNATURE TITLE/POSITION TELEPHONE #
I
TED SCHOETTGER (714) 744-
2234
l_ FINANCE
DIRECTOR JIM EVANS TREASURER (714)
744-2222 GENE BEYER MAYOR
ht4) 744-2200 SCHEDULE
B Designated Callers List of persons authorized to give oral instructions to make funds transfers as described
in Resolution 4.NAME (Type or Print)
TITLE/POSITION TELEPHONE #TED SCHOETTGER FINANCE
DIRECTOR (714) 744-2234 JIM
EVANS TREASURER (714) 744-2222 MARK
WEISS FISCAL AGENT (714) 744-5590 JEANNE
COOPER ASST. FINANCE DIRECTOR (714)