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HomeMy WebLinkAboutRes2021-060I I 1 Sponsored by: Bower CITY OF SEWARD, ALASKA RESOLUTION 2021-060 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: Melody Moline, Acting Finance Director Janette Bower, City Manager Stephen Sowell, Assistant 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 Fonds. 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 All previously approved resolutions in conflict herewith are hereby rescinded.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 24ih day of May, 2021. CITY OF SEWARD, ALASKA RESOLUTION 2021-060 AYES: Osenga, McClure, Casagranda, DeMoss, Seese, Baclaan, Terry NOES: None ABSENT: None ABSTAIN: None ATTEST: (City SEAL OF AEp5 1 Council Agenda Statement Meeting Date: May 24, 2021 Through: Janette Bower, 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 City Manager as well as the departure of the Finance Director provide 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 1. Comprehensive Plan (document source here): X 2. Strategic Plan (document source here): X 3 Other (list): Seward City Code 5.15 Investment & Collateralization of Public Funds X 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 2021-Oupdating the authorized signatories to the City of Seward's bank accounts and rescinding previous resolutions in conflict herewith. 70