Res 1032 - Auth Officers Withdr
COUNCIL BILL NO. 1268
RESOLUTION NO. 1032
A RESOLUTION ESTABLISHING DEPOSITORIES FOR crIY FUNDS, AUTHORIZING
WITHDRAWALS THEREFROM BY CERTAIN OFFICERS, AND REPEALING RESOLUTION
NO. 997.
THE CITY OF WOODBURN RESOLVES AS FOLLOWS:
Section 1. That those banks and financial institutions as defined by Oregon
law (ORS 294.035(7)) 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Deposited funds may be withdrawn on checks, drafts, receipts, or advices of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
Deputy Recorder
and that said institution 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 and empowered to make,
collect, discount, negotiate, endorse and assign, in the name of the City of Woodburn, all
checks, drafts, notes, and other paper payable to or by the City of Woodburn; to make and
enter into any and all agreements, including but not limited to, Special Depository
Agreements and Arrangements 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may be deposited, collected, or withdrawn; to delegate to others such authority in
connection 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.
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.
Page 1 -
COUNCIL BILL NO. 1268
RESOLUTION NO. 1032
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Section 4. That Resoluti~ebY repealed and revoked.
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Approved as to form: (/ I ,. \I L
City Attorney Date
Filed in the Office of the Recorder
ATTEST: ~ .~~
Mary e nt, Deputy Recorder
City of Woodburn, Oregon
APPROVED: 1/(.J2 uJ ~
FRED W. KYSER, OR
December 17 . 1990
December 18. 1990
December 18, 1990
December 18, 1990
Passed by the Council
Submitted to the Mayor
Approved by the Mayor
Page 2 -
COUNCIL BILL NO. 1268
RESOLUTION NO. 1032
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