HomeMy WebLinkAbout2008-12-11 - Resolution No. 08-15 RESOLUTION NO. 08-15
RESOLUTION OF THE BOARD OF DIRECTORS OF THE
YORBA LINDA WATER DISTRICT AUTHORIZING
INDIVIDUALS TO TRANSFER.FUNDS VIA THE FEDERAL
WIRE SYSTEM AND RESCIND RESOLUTION NO. 06-02
WHEREAS, the Yorba Linda Water District (District) desires to transfer funds through
the Federal Wire System; and
WHEREAS, the transfer of funds through the Federal Wire System is authorized by
signature and is completed electronically or by telephone if necessary, for
the purpose of paying certain debts and making investments; and
WHEREAS, financial institutions require that those persons authorized to sign District
checks and transfer funds via the Federal Wire System be designated by
a Resolution of the Board of Directors; and
WHEREAS, on April 13, 2006, the Board of Directors adopted Resolution No. 06-02
which authorized the Secretary/General Manager, Assistant Secretary
and Auditor as the designated representatives of the District to transfer
funds via the Federal Wire System; and,
' WHEREAS, with the retirement of Michael A. Payne, Secretary/General Manager
effective December 30, 2008; and,
WHEREAS, the Board of Directors wish to update the names of the employees who
are designated and authorized representatives of the District to transfer
funds,
NOW THEREFORE BE IT RESOLVED by the Board of Directors of the Yorba Linda
Water District as follows:
Section 1. That Kenneth R. Vecchiarelli/Secretary, or Diane Cyganik, Auditor, are
both hereby authorized, as representatives of the District, to transfer
funds via the Federal Wire System for the following purposes:
a. Investments. Any funds transferred for the purpose of making
investments on behalf of the Yorba Linda Water District must be for
the credit of the Yorba Linda Water District, and can only be to
financial institutions authorized by the latest adopted Investment
Policy Resolution.
b. Payables. Transfer of funds for payment of payables to the following:
1. Vendors requesting a wire transfer instead of a check.
2. To assure payment in a timely manner to avoid a financial penalty.
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c. Payment of payroll taxes.
-1. Payment at 3`1 party checks ter insurance. deferred Income,
garnishment, CaIPERS, etc.
Section 2. Any funds transferred via the Federal Wire System for any purpose other
than those specified in Section I(a) sucker (b) herein requires approval by
two persons. Any one, of the five, members of the Board of Directors is
authorized to be the first signer and Kenneth R. Vecchiarelli..'secretary or
Diane Cyganik, Auditor are hereby authorized to be cosigners. These are
the only signatures authorized to appear on the Wire instruction Form for
funds transferred under this section.
Section 3. Sandi Van Edon, Senior Accountant, or ( h;.1U Le, Accounting Assistant 11,
will verify all wire transfers with Wells Fargo Bank that have been sent via
the Federal Wire System.
Section 4. That Resolution No. 06-02 is hereby rescinded effective immediately
upon passage of this Resolution.
PASSED AND ADOPTED this 11th (:toy of December 2008 by the following called
vote:
AYES:
NOES:
ABSENT,
ABSTAIN:
- .. ......
John W. SUffinierfiold, Presidemt
Yorba Linda Water District
ATTEST:
Kenneth R. Vecchiarelf, Secretary
Yorha Linda Water District
REVIEWED AS 10 FORM BY GENERAL COUNSEL:
-e
Arthur G.
Kidinan. Esq.
h1cCormick, Kidman and Bf-Avens
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