Res 1318 - Establi Depositories
COUNCIL BILL NO. 1663
RESOLUTION NO. 1318
A RESOLUTION ESTABLISHING DEPOSITORIES FOR CITY FUNDS, AUTHORIZING
WITHDRAWALS THEREFROM BY CERTAIN OFFICERS, AND REPEALING RESOLUTION NO. 1032.
THE CITY OF WOODBURN RESOLVES AS FOLLOWS:
Section 1. That those banks and financial institutions as defined
by Oregon law (ORS 294.035 (4)) and the Woodburn Investment Policy and
Portfolio Guidelines for the City are hereby designated as depositories of
funds for the city of Woodburn. Deposited funds may be withdrawn on checks,
drafts, receipts, or advices of debit given or signed in the name of the City
of Woodburn by any two (2) individuals in the following positions:
Mayor
City Administrator
Finance Director
City Recorder
and that said institutions shall be and are authorized to honor and pay the
same whether or not they are payable to bearer or to the individual order of
any person or persons signing the same.
Section 2. The aforesaid persons are authorized to draw funds and
deposit funds in the name of the City of Woodburn; to make and enter into
Special Depository Agreements with reference to the manner in which, the
conditions under which, or the purposes for which funds, checks, or other
items of the City of Woodburn may be deposited, collected, or withdrawn; to
delegate to others such authority in connections with any Special Depository
arrangement that may be deemed appropriate, and to do and perform such other
and further acts and things in connection with or pertaining to the
establishment of any account or the transaction of any banking or investment
business with said financial institutions as they may consider proper and is
allowed by law.
Section 3. That the authority hereby conferred upon the above
individuals holding these positions shall remain in full force and effect
until written notice of the revocation thereof shall have been delivered to
and received by the financial institution(s) at the branch(es) or office(s)
where such account(s) is(are) maintained.
section .. .
That Resolution No. 1032 is hereby repealed and
revoked.
Approved as to
formtJ1~~
City Attorney
8/rlbr
Date '
APPROVED: ~
NANCY
Page 1 - COUNCIL BILL NO. 1663
RESOLUTION NO. 1318
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Passed by the Council
Submitted to the Mayor
Approved by the Mayor
Filed in the Office of the Recorder
August.28, 1995
August 29, 1995
August 29, 1995
August 29, 1995
ATTEST: i!1~ ~t\.o-d-
Mary ~nnant, Recorder
City of Woodburn, Oregon
Page 2 - COUNCIL BILL NO. 1663
RESOLUTION NO. 1318
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