HomeMy WebLinkAbout2000-03-23 - Resolution No. 00-03RESOLUTION NO. 00-03
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. 98-15
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 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; and,
NOW THEREFORE BE IT RESOLVED by the Board of Directors of the Yorba Linda Water
District as follows:
Section 1. That William Robertson, Secretary/General Manager; Beverly Meza, Auditor; or
Michael Payne, Assistant General Manager/Assistant Secretary are 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 only the following:
1. Municipal Water District of Orange County for payment of imported water.
2. Bank of America for payment of General Obligation bonds debt.
3. ACWA-HPIT for payment of health insurance premiums.
4. Orange County Water District for payment of assessments.
Section 2. Any funds transferred via the Federal Wire System for any purpose other than
specified in Section 1(a) and/or (b) herein requires approval by two persons. Any
one of the following five members of the Board of Directors is authorized to be the
first signer: Mark Abramowitz, Paul R. Armstrong, Brett Barbre, Michael J.
Beverage or Arthur C. Korn. William Robertson, Secretary/General Manager;
Beverly Meza, Auditor; or Michael Payne, Assistant General Manager/Assistant
Secretary are hereby authorized to be the cosigner. These are the only signatures
authorized to appear on the Wire Instruction Form for funds transferred under this
section.
Section 3. Sandi Van Etten, Chau Le or Helen Whitman, Accounting Clerk II will verify all
wire transfers with Wells Fargo Bank have been sent via the Federal Wire System
Section 4. That Resolution No. 98-15 is hereby rescinded effective immediately upon passage
of this Resolution.
PASSED AND ADOPTED this 23rd day of March, 2000 by the following called vote:
AYES:
Beverage, Armstrong, Abramowitz, Barbre, and Korn
NOES:
None
ABSENT:
None
ABSTAIN:
None
Michael J Bever , President
Yorba Linda Water District
:
i liam J. Robertson, Secretary
Yorba Linda Water District
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