HomeMy WebLinkAboutRES2023-063 Updating Bank Signatures CITY OF SEWARD,ALASKA Sponsored by: Regis
RESOLUTION 2023-063
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
NOW,THEREFORE,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:
Sully Jusino, Deputy Finance Director Stephen Sowell,Assistant City Manager
Norm Regis,Acting City Manager Kris Peck,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rescinded.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 May 2023.
CITY OF SEWARD, ALASKA
RESOLUTION 2023-063
THE CITY OF SEWARD, ALASKA
Cd eLK
Sue McClure, Mayor
AYES: Osenga, DeMoss, Calhoon, Wells, Finch, Barnwell, McClure
NOES: None
ABSENT: None
ABSTAIN: None
ATTEST:
Kris Peck
Deputy City Clerk
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City Council Agenda Statement
a
Meeting Date: May 22, 2023 t!
To: City Council
From: Norm Regis, Acting City Manager
Subject: Resolution 2023-063: Authorizing Signatures for All City Bank Accounts
and Rescinding All Previous Resolutions in Conflict Herewith
Background and 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 new Acting City Manager and the new City Clerk 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.
Comprehensive and Strategic Plan Consistency Information
This legislation is consistent with (citation listed):
Comprehensive Plan:
Strategic Plan:
Other: SCC 5.15 Investment and Collateral ization of Public Funds
Certification of Funds
Total amount of funds listed in this legislation: $
This legislation (✓):
Creates revenue in the amount of: $
Creates expenditure in amount of: $
Creates a savings in the amount of: $
x Has no fiscal impact
Funds are (✓):
Budgeted Line item(s):
Not budgeted
x Not applicable
Fund Balance Information
Affected Fund (✓):
General SMIC Electric Wastewater
Boat Harbor Parking F1 Water HHealthcare
Motor Pool Other
116
Note: amounts are unaudited
Fund Balance/Net position — unrestricted/unassigned $
Available Unrestricted Cash Balance: $
Finance Signature:
Attorney Review
RxYes Attorney Signature:
Not applicable Comments:
Administration Recommendation
x Approve Res.
Other:
117