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Res 1935 - US Bank Authorized SignersCOUNCIL BILL NO. 2784 RESOLUTION NO. 1935 A RESOLUTION DESIGNATING THE US BANK NATIONAL ASSOCIATION AS A DEPOSITORY OF THE CITY OF WOODBURN AND DESIGNATING AUTHORIZED SIGNERS ON THE BANK ACCOUNT WHEREAS, the City finds that it must authorize at least three but not more than five individuals to sign on the City's bank accounts; and WHEREAS, all authorized signers should be part of top management; and WHEREAS, Scott Derickson has replaced the previous City Administrator and this signatory must be modified, NOW, THEREFORE, THE CITY OF WOODBURN RESOLVES AS FOLLOWS: Section 1. The US Bank National Association ("the Bank") is designated as a depository of The City of Woodburn ("the Depositor") with authority to accept or receive at any time for the credit of the Depositor deposits by whomsoever made of funds and other property in whatever form or manner transferred to endorsed; and that any officer of the Depositor is hereby authorized to open or cause to be opened one or more accounts with the Bank on such terms, conditions and agreements as the Bank may now or hereafter require and to make any other agreements deemed advisable in regard to any of the foregoing. Depositor acknowledges and agrees that the services contemplated by this resolution shall be governed by the US Bank Customer Agreement for commercial deposit accounts, as amended from time to time. The Bank shall provide reasonable notice to the Depositor of all said amendments. Section 2. Checks, drafts or other orders for the payment, transfer or withdrawal of any of the funds or other property of the Depositor on deposit with the Bank shall be binding on the Depositor when signed, manually or by use of a facsimile or mechanical signature or otherwise authorized, by any one of the individuals listed in the section entitled "Authorized Signers," and the Bank is hereby authorized to pay and charge to the account of the Depositor any such checks, drafts or other orders so signed or otherwise authorized, including those payable to the individual order of the same person or persons signing or otherwise authorizing the same and including also those payable to the Bank or to any other person for application, or which are actually applied to the payment of any such indebtedness owing the Bank from the person or persons who signed such checks, drafts or other withdrawal orders or otherwise authorized such withdrawals. In particular, and not in limitation of foregoing, Page 1 -COUNCIL BILL NO. 2784 RESOLUTION NO. 1935 such persons may authorize payment, transfer or withdrawal by oral or telephonic directions to the Bank complying with such rules and regulations relating to such authorizations as the Bank may communicate to the Depositor from time to time. Section 3. The Finance Director certifies to the Bank the names and signatures (either actual or any form or forms of facsimile or mechanical signatures adopted by the person authorized to sign) of the Authorized Signers listed below and from time to time hereafter, upon a change in the facts so certified, immediately certify to the Bank the names and signatures (actual or facsimile) of the persons then authorized to sign or to act. The Bank shall be fully protected in relying on such certificates and on the obligation of the certifying officer (set forth above) to immediately certify to the Bank any change in any facts so certified, and the Bank shall be indemnified and saved harmless by the Depositor from any claims, demands, expenses, loss or damage resulting from or growing out of honoring or relying on the signature of other authority (whether or not properly used and, in the case of any facsimile signature, regardless of when or by whom or by what means such signature may have been made or affixed) of any officer or person whose name and signature was so certified, or refusing to honor any signature or authority not so certified. The authorized signers for the Depositor are as follows: Name: Title: Signature D BENJ GILLESPIE MARY E TENNANT SCOTT DERICKSON Signer Limited Access Signer Limited Access Signer Limited Access Section 4. This Resolution shall continue in force until express written notice of their rescission or modification has been furnished to and received by the Bank; and Section 5. Any and all transactions by or on behalf of the Depositor with the Bank prior to the adoption of this Resolution be, and the same hereby are, in all respects ratified, approved and confirmed. Page 2 - COUNCIL BILL NO. 2784 RESOLUTION NO. 1935 -7), Approved as to form: City Attorney Date Appro ed: Kathy n Figl y, ayor Passed by the Council Submitted to the Mayor Approved by the Mayor Filed in the Office of the Recorder �" ATTEST: - Mary Te ant City Recorder City of Woodburn, Oregon Page 3 - COUNCIL BILL NO. 2784 RESOLUTION NO. 1935 ,lune 8. 2009 v June 10, 2009 June 10, 2009 June 10, 2009