HomeMy WebLinkAbout1959-03-02 - Resolution No. 002SOLUTION NO. 2
COR RATE RESOLUTION TO BO OW
Y0"A LIITDA COUNTY WAT 'E R DISTR T
RESOLVED, that this corporation, I....C ,
borrow from BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION, a national banking association,
hereinafter referred to as "Bank", from time to time, such sum or sums of money as, in the judgment of the officer or officers
hereinafter authorized, this corporation may require; provided that the aggregate amount of such borrowing, pursuant to this reso-
lution, shall not at any one time exceed the sum of
ONE THOUSAND • Dollars ($1,_~.QO..®~04...........
in addition to such amount as may be otherwise authorized;
RESOLVED FURTHER, that
vid..Cist PRESIDENT the
or the
AI'Q.
and .VALD9J ' -SIIT~................................................................................. the ...AlUD
or the
of this corporation (the officer or officers, or officers acting in combination, authorized to act pursuant hereto being hereinafter designated
as "authorized officers"), be and they are hereby authorized, directed and empowered, in the name of this corporation, to execute and
deliver to Bank, and Bank is requested to accept, the note or notes, advance account agreements, acceptance agreements or other instru-
ments evidencing the indebtedness of this corporation for the monies so borrowed, or to be borrowed, with interest thereon, and said
authorized officers are authorized from time to time to execute renewals or extensions of said note or notes, advance account agreements,
acceptance agreements or other instruments.
RESOLVED FURTHER, that said authorized officers be and they are hereby authorized, directed and empowered, as security
for any note or notes or any other indebtedness of this corporation to Bank, whether arising pursuant to this resolution or otherwise, to
grant, transfer, pledge, mortgage, or otherwise hypothecate to Bank, or deed in trust for its benefit, any property belonging to this cor-
poration, and to execute and deliver to Bank any and all loan or credit agreements, grants, transfers, trust receipts, pledge agreements,
mortgages, deeds of trust and other hypothecation agreements, which said instruments and the note or notes and other instruments
referred to in the preceding paragraph may contain such provisions, covenants, recitals and agreements as Bank may require and said
authorized officers may approve, and the execution thereof by said authorized officers shall be conclusive evidence of such approval;
FURTHER RESOLVED, that said authorized officers be and they are hereby authorized, directed and empowered (a) to dis-
count with or sell to Bank, Conditional Sale Contracts, leases, bailment agreements, notes, acceptances, drafts, receivables and evidences
of indebtedness payable to this corporation, upon such terms as may be agreed upon by them and Bank, and to endorse in the name of
this corporation said notes, acceptances, drafts, receivables and evidences of indebtedness so discounted, and to guarantee the payment
of the same to Bank and (b) to apply for and obtain from Bank letters of credit and in connection therewith to execute agreements, appli-
cations, trust receipts, pledge agreements, guaranties, indemnities and other financial undertakings.
RESOLVED FURTHER, that Bank is authorized to act upon this resolution until written notice of its revocation is delivered
to Bank, and that the authority hereby granted shall apply with equal force and effect to the successors in office of the officers herein
named.
I YALDO Y. SMITH
.
YORBA LIR'TDA COUNTY WATER DISTRICT------------------------
Secretary
a corporation, incorporated
under the laws of the State of .C. A !I~...-RNIA........................... do hereby certify that the foregoing is a full, true and correct copy
of a resolution of the Board of Directors of said corporation, duly and regularly passed and adopted at a meeting of the Board of
Directors of said corporation which was duly and regularly called and held in all respects as required by law, and by the by-laws of
said corporation, at the office thereof on the S200NQ........................................... day of .CH................................ , 19.5Q.....,
at which meeting a majority of the Board of Directors of said corporation was present and voted in favor of said resolution.
I farther certify that said resolution is still in full force and effect and has not been amended or revoked, and that the specimen
signatures appearing below are the signatures of the officers authorized to sign for this corporation by virtue of this resolution.
IN WITNESS WHEREOF, I have hereunto set my hand as such Secretary, and affixed the corporate seal of said corporation,
this .---....9 day of j%rl; 1.............._....... 19.5Q....
AUTHORIZED SIGNATURES:
(Signature)
Affix
-------------------------------------(Signature)....----•----••---- corporate seal (Signature) SECRETARY OF
here
(Signature) A CORPORATION
(Signature)
N-243 3-e6