Loading...
HomeMy WebLinkAboutReso - CC - 068-2023RESOLUTION NO. 068-2023 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BURLINGAME AUTHORIZING CITY OF BURLINGAME SIGNATORIES FOR CITY CHECKS, DRAFT AND OTHER ORDERS ON BANK OF AMERICA WHEREAS, the City of Burlingame has a long-established relationship with the Bank of America; and WHEREAS, the Bank of America requires the City to adopt a resolution in order to allow funds to be deposited with the Bank of America and to identify and authorize certain city officers to sign check, drafts, and other orders of said bank. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF BURLINGAME DOES HEREBY RESOLVE AND ORDER AS FOLLOWS: 1. The City Council authorizes that funds of the City of Burlingame may be deposited with Bank of America subject to the terms and the signature card, rules of the Bank, including all amendments and additions thereto, all applicable laws, regulations and practices of the Bank in force from time to time, and all service charges now of hereafter established or allowed by law. 2. The City Council authorizes the following City officers to sign checks, drafts or other orders for and on behalf of the City of Burlingame; the signature of one of these officers shall be required for checks, drafts or other orders of less than $5,000.00; the signature of two of these officers shall be required for checks, drafts or other orders of $5,000.00 or more. a. Lisa K. Goldman, City Manager b. Changwei (Helen) Yu-Scott, Finance Director/Treasurer c. Darlene Wong, Financial Services Manager/Deputy Treasurer d. Karen Cao, Financial Services Manager/Deputy Treasurer e. Margaret Ono, Accounting Technician 3. The City Council authorizes each of the above named persons to endorse checks, drafts and other orders for and on behalf of the City of Burlingame for deposit, encashment or otherwise and further, the City Council authorizes the Bank of America to honor and pay on account any and all checks, drafts or other orders signed and/or endorsed herewith, or, if said checks, drafts or other orders are presented unendorsed for deposit to City’s account, to supply any required endorsement. 4. The City Council agrees that any sum at any time in the account with the Bank of America shall be subject to the right of offset for monies owed by City to Bank of America to the extent legally permissible; further, the City Council agrees to pay the Bank of America on demand, the amount of overdrafts on this account and any amounts for account fees and rates according to the current schedule of fees and rates. 5. The City Council authorizes the Bank of America to hold all statements and vouches until called for, and if not called for within thirty (30) days, to mail said statements. _________________________________________ Michael Brownrigg, Mayor DocuSign Envelope ID: F602E822-FD09-4630-ADA9-5E36EDC34B90 I, Meaghan Hassel-Shearer, City Clerk of the City of Burlingame hereby certify that the foregoing Resolution was duly and regularly introduced and adopted at a regular meeting of the Burlingame City Council held on June 5, 2023, by the following vote to wit: AYES: Councilmembers: BEACH, BROWNRIGG, COLSON, ORTIZ, STEVENSON NOES: Councilmembers: NONE ABSENT: Councilmembers: NONE _________________________________________ Meaghan Hassel-Shearer, City Clerk DocuSign Envelope ID: F602E822-FD09-4630-ADA9-5E36EDC34B90