HomeMy WebLinkAbout1990-02-08 - Resolution No. 90-03r ~
RESOLUTION NO. 90-03
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 Arthur C. Korn, 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 Arthur C.
Korn, President of the Board, and William J. Robertson, Assistant General
Manager, and the accompanying imprint on 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, and William
J. Robertson, Assistant General Manager, are hereby authorized, as the
designated representatives of the General Manager, to perform the Treasurer's
function and to transfer District funds via the Federal wire system.
0 0
PASSED AND ADOPTED this eighth day of February, 1990 by the following
called vote:
Ayes: 4 Arthur Korn, M. Roy Knauft, Whit Cromwell, Sterling Fox
Noes: 0
Absent: Paul Armstrong
Abstain:
President
Yorba Linda Water District
Attest:
Secretary
Yorba Linda Water District