RESOLUTION NO.  6746

 

            RESOLUTION OF THE CITY OF LAWRENCE, KANSAS ESTABLISHING U. S. BANK NATIONAL ASSOCIATION AS AN OFFICIAL DEPOSITORY OF THE CITY OF LAWRENCE, KANSAS PURSUANT TO K.S.A. 9-1401.

 

            WHEREAS,  pursuant to K.S.A. 9-1401, the Governing Body of the City, the “Depositor”, has the authority to designate banks, savings and loan associations and savings banks which shall serve as depositories of its funds; and

 

WHEREAS, U.S. Bank National Association, hereinafter the “Bank”, is hereby designated as a depository of 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 U.S. Bank Customer Agreement for commercial deposit accounts, as amended from time to time; and

 

            WHEREAS, 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 designated by the City as "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, 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 authorization as the Bank may communicate to the Depositor from time to time; and

 

            WHEREAS, the Finance Director of the City of Lawrence or his or her designee, shall certify 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 and shall 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; and

 

            WHEREAS, this resolution shall continue in force until express written notice of their rescission or modification has been furnished to the Bank; and

 

            WHEREAS, 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.

 

 

            BE IT RESOLVED BY THE GOVERNING BODY OF THE CITY OF LAWRENCE, KANSAS, AS FOLLOWS:

 

            Section 1.  The above recitals are incorporated herein as if fully set forth below.

 

            Section 2.  U.S. Bank National Association is hereby designated as an official depository of the City of Lawrence, Kansas, a municipal corporation, pursuant to K.S.A. 9-1401.

 

            Section 3.  This Resolution shall be in full force and effect from and after its adoption and shall continue in force until express written rescission has been adopted by the Governing Body and notice provided by First Class U.S. Mail to U.S. Bank National Association.

 

            ADOPTED by the governing body on the _____ day of December, 2007.

 

                                                                        APPROVED:

 

                                                                        ________________________________

                                                                        Sue Hack, Mayor

 

 

ATTEST:

 

 

 

______________________________

Frank S. Reeb

City Clerk

 

 

Approved as to form and legality:

 

 

_________________________________________

Toni Ramirez Wheeler,  Director of Legal Services