09-54
RESOLUTION NO. 09-54
A RESOLUTION OF THE CITY OF CLEARWATER
AUTHORIZING EXECUTION OF A CORPORATE
RESOLUTION FOR BANKING FORM AND AUTHORIZING
ESTABLISHMENT OF A DEMAND DEPOSIT BANKING
ACCOUNT UNDER A MINIMUM PREMIUM FUNDING
ARRANGEMENT FOR THE CONTRACT PERIOD OF
JANUARY 1, 2010 TO DECEMBER 31,2010, IN ORDER TO
IMPLEMENT THE CONTRACT WITH CIGNA HEAL THCARE
FOR EMPLOYEE AND DEPENDENT MEDICAL
INSURANCE; PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Clearwater is continuing its contract for the provision of
employee and dependent medical insurance with CIGNA Healthcare under a rider to the
previous contract; and
WHEREAS, it is necessary under a new funding arrangement to open a demand
deposit banking account containing an initial amount, to be replenished weekly following
deduction of medical claim costs, and this requires execution of a Corporate Resolution
for Banking Form and the establishment of said account; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CLEARWATER, FLORIDA:
Section 1. That the City of Clearwater hereby approves execution of the
Corporate Resolution for Banking Form attached as Exhibit "A" and authorizes the
appropriate City officials to establish a demand deposit banking account with an imprest
amount of $241,000.00 under a minimum premium funding arrangement at an
appropriate banking institution for the contract period of January 1, 2010 through
December 31, 2010 for purposes of funding the CIGNA employee and dependent
medical insurance contract.
Section 2. This resolution shall take effect immediately upon adoption.
Resolution 09-54
, .
PASSED AND ADOPTED this 17th day of December, 2009.
CITY OF CLEARWATER, FLORIDA
By:
J~t/~
Frank V. Hibbard
Mayor
Approved as to form:
2
Resolution 09-54
CORPORATE RESOLUTION FOR BANKING
Legal Name of Corporation: City of Clearwater
Principal Place of Business: 100 South Mvrtle Avenue. Clearwater. Florida. 33756
Place of Incorporation: Clearwater. Florida
RESOLVED:
1. That Citibank, N.A., its branches, subsidiaries and affiliates (the "Bank") be and hereby is designated a depository of the funds
of this Corporation ("Corporation"); and
The Finance Director
(If officer(s). designate office(s) only. for example: President, Treasurer. etc.: if person(s) other than officer(s). insert name(s)).
(If two or more are designated. indicate number of signatures required to conduct transactions. If nothing indicated, one will be required.)
is/are hereby authorized (i) to open and close accounts in the name of this Corporation, (ii) to execute and deliver agreements for
Bank products and services, electronic banking, or other agreements relative to financial and banking transactions, including wire
transfers, or which may establish special authorizations and limitations pertaining to the accounts different from the authorizations
and limitations contained herein and to change such special authorizations and limitations from time to time, (iii) to sign for and on
the behalf of this Corporation, any and all checks, drafts or other orders with respect to any funds at any time to the credit of this
Corporation with the Bank and/or against any account(s) of this Corporation maintained at any time with the Bank, inclusive of any
such checks, drafts, or other orders in favor of any of the above-designated officer(s) and/or other person(s), even if such checks,
drafts or other orders create an overdraft on any account(s) of the Corporation and (iv) to make withdrawals at any time of any
such funds or from any such account(s) by any other means authorized by the Bank, including (without limitation) a debit card, a
credit card, a terminal or other device or facility providing access to any such funds or account(s) even if such withdrawals create
an overdraft on any account(s) of the Corporation; and that the Bank be and hereby is authorized (a) to open and close such
accounts for this Corporation; (b) to pay such checks, drafts or orders, and honor such withdrawals, by debiting any account(s) of
this Corporation then maintained with it whether or not any of the foregoing creates an overdraft in any account of the
Corporation; (c) to receive for deposit to the credit of this Corporation, and/or for collection for the account of this Corporation, any
and all checks, drafts, notes or other instruments for the payment of money, whether or not endorsed by this Corporation, which
may be submitted to it for such deposit and/or collection, it being understood that each such item shall be deemed to have been
unqualifiedly endorsed by this Corporation; and (d) to receive, as the act of this Corporation, any and all stop-payment
instructions with respect to any such checks, drafts, or other orders as aforesaid and reconcilement(s) of account when given by
anyone or more of the officer(s) and/or other person(s) as herein before designated. The authorization provided in (i) and (ii) may
be performed electronically, and the digital signature of a person authorized above will be binding on the Corporation.
2. That the Finance Director
(if officer(s) designate office(s) only. for example President. Treasurer. etc.; if person{s) other than officer{s). insert name{s)).
(If two or more are designated, indicate number of Signatures required to conduct transactions. If nothing indicated. one will be required.)
is/are hereby authorized to conduct all transactions as described in Paragraph 1 with respect to demand deposit accounts
established by the Corporation in connection with the welfare benefit program administered by CGLlC only, and in addition is/are
authorized to designate additional persons or entities authorized to conduct transactions as described in Paragraph 1.
3. That any and all withdrawals of money and/or other transactions heretofore had on behalf of this Corporation with the Bank are
hereby ratified, confirmed and approved, and that the Bank (and any interested third party) may rely upon the authority conferred
by this entire resolution unless, and except to the extent that, this resolution shall be revoked or modified by any subsequent
resolution of the Board, and until a certified copy of such subsequent resolution has been received by the Bank and the Bank has
had a reasonable opportunity to act thereon.
4. That (i) the Bank is further authorized to honor each check, draft or other order of payment of money (and "Item") drawn in the
name of this Corporation, 'including Items payable to the order of any person authorized to sign on behalf of this Corporation,
when bearing or purporting to bear any of the facsimile or printed signatures appearing on a Bank signature card for this
Corporation, regardless of by whom or by what means the actual or purported signature may have been affixed thereto or printed
thereon and (ii) all previous authorizations for the signing and honoring of items are hereby ratified and continued in full force
effect as amplified hereby.
C02016/0506
Exhibit "A"
5. That the Secretary orland Assistant Secretary or any other officer of this Corporation be/are and hereby is/are authorized and
directed to certify to the Bank the names of the present officers of this Corporation and other persons authorized to sign for it, and
the offices respectively held by them, together with specimens of their signatures and from time to time as changes in such
personnel are made, immediately to certify such changes to the Bank, and the Bank shall be fully protected in relying on such
certifications.
That the Secretary or an Assistant Secretary or any other officer of this Corporation be and hereby is authorized and directed to
certify to the Bank that this resolution has been duly adopted, is in full force and effect and is in accordance with the provisions of
the charter.
6. That this Corporation acknowledges and agrees that accounts are subject to the Bank's terms and conditions for accounts, as
same may be amended from time to time.
VERIFICATION:
We, the undersigned, Director and/or Secretary and/or Assistant Secretary and/or any other officer as set forth in Paragraphs 1 and 2
above of the above named Corporation as indicated below, which is duly organized and existing under the laws of City of Clearwater
and having its principal place of business at the above address, hereby CERTIFY that the above is a true copy of a certain resolution
duly adopted by the Board of Directors of the said Corporation in accordance with its constitutive documents, and not subsequently
rescinded or modified.
IN WITNESS WHEREOF, we have this day hereunto subscribed our names duly authorized to do so.
Countersigned:
CITY OF CLEARWATER, FLORIDA
By:
William B. Horne II
City Manager
Frank V. Hibbard
Mayor
Attest:
Cynthia E. Goudeau
City Clerk
C02016/0506