HomeMy WebLinkAboutRes2021-034 CITY OF SEWARD, ALASKA
RESOLUTION 2021-034 Sponsored by: Regis
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, AUTHORIZING SIGNATURES FOR ALL CITY BANK
ACCOUNTS AND RESCINDING ALL PREVIOUS RESOLUTIONS IN
CONFLICT HEREWITH
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA that:
Section 1. Any two of the following signatures shall appear on all checks, drafts, notes or
orders drawn against the City of Seward bank accounts maintained at the Seward Branch of Wells
Fargo or the Seward Branch of the First National Bank of Anchorage:
Jennifer Pae, Finance Director Stephen Sowell, Assistant City Manager
111
Norm Regis, Acting City Manager Brenda Ballou, City Clerk
Section 2. Any one of the above persons shall have access to and full power to remove the
contents of and to exchange or surrender the safe deposit boxes rented by the City of Seward located
at the Seward Branch of Wells Fargo under the terms of the City of Seward's banking services
agreement with Wells Fargo.
Section 3. Any one of the above persons shall have authority to invest City monies with
financial institutions as prescribed by the Seward City Code Chapter 5.15, Investment and
Collateralization of Public Funds.
Section 4. All previously approved resolutions in conflict herewith are hereby rescinded.
Section 5. This resolution shall take effect immediately upon adoption.
PASSED AND APPROVED by the City Council of the City of Seward, Alaska, this 22nd
day of March, 2021.
THE I Y S WARD, ALASKA
C sty Terry Mayor
CITY OF SEWARD, ALASKA
RESOLUTION 2021-034
AYES: Osenga, McClure, Casagranda, DeMoss, Seese, Baclaan, Terry
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
rends J. Ball , C
City Clerk
(City Seal)...OF'SE.,''•,
= • s SEAL ••
• :
• J
...............
Council Agenda Statement
4
Meeting Date: March 22, 2021
Through: Norm Regis, Acting City Manager
From: Sam Hickok, Deputy Finance Director
Agenda Item: Authorization for Banking Signatures
BACKGROUND &JUSTIFICATION:
The Seward City Council is required to pass a resolution listing the individuals authorized to invest
monies and/or sign banking documents on behalf of the City of Seward. The recent onboarding of
the new Finance Director provides the need to update this authorization. This action forms the
basis upon which signature cards will be updated at the local banking institutions, and checks and
City payments and investments will be authorized on behalf of the City.
While each individual listed on the resolution is authorized to act on behalf of the City,the City's
practice is to have two separate individuals authorize every investment,approve all City payments,
and authorize all electronic banking transactions.
CONSISTENCY CHECKLIST: Yes No N/A
I. Comprehensive Plan (docconent source here): X
2. Strategic Plan (docconent source here): X
..... __
3' Other(list): Seward City Code 5.15 Investment &Collateral ization of X
l Public Funds
ATTORNEY REVIEW Yes _.._X__No
FISCAL NOTE
This action has no fiscal impact on the City.
Approved by Finance Department:
RECOMMENDATION
Seward City Council approve Resolution 2020-0 3 4, updating the authorized signatories to
the City of Seward's bank accounts and rescinding previous resolutions in conflict herewith.