HomeMy WebLinkAbout1992-07-09 - Resolution No. 92-170 #
RESOLUTION NO. 92-17
RESOLUTION OF THE BOARD OF DIRECTORS OF THE
YORBA LINDA WATER DISTRICT
ADOPTING POLICY REGARDING THE TRANSFER FUNDS
VIA THE FEDERAL WIRE SYSTEM
WHEREAS, The Yorba Linda Water District transfers funds through the Federal
Wire System; and,
WHEREAS, the transfer of funds through the Federal 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 transfer
funds via the Federal Wire System be designated by a Resolution of the
Board of Directors; and,
WHEREAS, on June 25, 1992, the Board of Directors adopted Resolution No. 92-
16 which authorized the Auditor as the designated representative of the
District to transfer funds via the Federal Wire System; and,
WHEREAS, the Board of Directors wants to specify the wire transfer policy
previously stated in Resolution No. 92-16.
NOW THEREFORE BE IT RESOLVED by the Board of Directors of the Yorba
Linda Water District as follows:
Section 1. That Beverly Meza, Auditor, is hereby authorized, as the representative of
the District, to transfer District funds via the Federal Wire System for the
following purposes:
a. Investments. Any funds transferred for the purpose of making
investments on the 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 the payment of payables to the
following:
i. Municipal Water District of Orange County for payment of imported
water.
ii. Bank of America for payment of General Obligation Bonds.
iii. ACWA-HPIT for payment of health insurance premiums.
Section 2. That any funds transferred via the Federal Wire System for any purpose
other than specified in Section 1. a. and/or b. herein shall be approved by
two persons. Any of the following five are authorized to the first signers
on the Wire Instructions form: Paul R. Armstrong, Sterling L. Fox, M.
Roy Knauft, Jr., Arthur C. Korn or Carl T. Scanlin. And that Beverly
Meza, Auditor, is authorized to be co-signer. These are the only signatures
authorized to appear on the Wire Instructions form for funds transferred
under this section.
Section 3. The Bank of Yorba Linda is hereby instructed to verify transfers authorized
pursuant to Section 2 herein with the Secretary or, in the absence of the
Secretary, the Assistant Secretary of the District.
PASSED AND ADOPTED this 9th day of July, 1992 by the following called vote:
Ayes: 5 - Paul Armstrong, Sterling Fox, Arthur C. Korn, Carl Scanlin
Noes: 0 and M. Roy Knauft, Jr.
Absent: 0
Abstain: 0
esident, Paul R. Armstrong
Yorba Linda Water District
ATTESeer At2ary, illi am . Robertson
Yorba Linda Water District