HomeMy WebLinkAbout1988-03-24 - Resolution No. 88-13RESOLUTION NO. 88-13
RESOLUTION OF THE BOARD OF DIRECTORS
OF THE YORBA LINDA WATER DISTRICT
AUTHORIZING INDIVIDUALS TO SIGN ON DISTRICT CHECKS AND
TRANSFER FUNDS VIA THE FEDERAL WIRE SYSTEM
WHEREAS, the District's checking account requires two signatures, one
staff member and co-signed by one member of the Board of
Directors; and,
WHEREAS, the District has acquired an automated check signing machine
with a signature plate made of metal and imprinted with the
names of Paul Armstrong, President of the Board, and William
J. Robertson, Assistant General Manager; and,
WHEREAS, transfer of funds made through the wire system are not
authorized by signature, but are made by telephone 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,
NOW, THEREFORE, be it resolved by the Board of Directors of the Yorba
Linda Water District that the District may establish in its name one or more
deposit accounts with the Bank of Yorba Linda upon such terms and conditions
as may be agreed upon with said bank, and that the President of the Board of
Directors and Secretary of the District be and they are hereby authorized to
establish such an account.
Be it further resolved that the signature plate bearing the names of Paul
Armstrong, President of the Board, and William J. Robertson, Assistant
General Manager, and the accompanying maceration of the checks by the
automated check signing machine, be the only signatures authorized to sign
checks on District accounts.
Be it further resolved that Cheryl E. Gunderson, Business Manager, is hereby
authorized, as the designated representative of the General Manager, to
perform the Treasurer's function, to transfer District funds via the Federal
wire system.
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PASSED AND ADOPTED this 24th day of March, 1988 by the following called
vote:
Ayes: 4 Whit Cromwell, Sterling Fox, Arthur C. Korn, Roy Knauft
Noes: 0
Absent: 1 Paul Armstrong
Abstain: 0
President
Yorba Linda Water District
Attest:
17
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Secretary
Yorba Linda Water District