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__54- FL- = f
<br />Council Member 'A introduced the following resolution and moved
<br />its adoption:
<br />FIRER
<br />BANK
<br />CITY OF LINO LAKES
<br />RESOLUTION 2000-47
<br />CHANGE OF SIGNATORIES ON CITY FIRSTAR ACCOUNTS &
<br />AUTHORIZATION FOR WIRE TRANSFERS
<br />CORPORATE DEPOSITORY RESOLUTION
<br />By the [ ] beard oter-s of 1----k ir\C,, k.
<br />[ ] s here loirfers
<br />a !\kLi nil l a j' -a t j -t j corporation, hereinafter called "Corporation," whose principal
<br />place of business is located at (JCL
<br />RESOLVED, that Firstar Bank of Minnesota, N.A. (the "Bank") is hereby designated as a
<br />depository in which the funds of this Corporation may from time to time be deposited; that the following described
<br />account(s) be opened and maintained in the name of this Corporation with the Bank subject to the rules and regulations of
<br />the Bank from time to time in effect; that the person(s) and the number thereof designated by title opposite the following
<br />designation of account(s) are hereby authorized, for and on behalf of this Corporation, (1) to sign checks, drafts, notes,
<br />_ bills, certificates of deposit and other orders for payment or withdrawal of funds from said account(s) and to issue
<br />instructions regarding the same, (2) to direct, orally or in writing or electronically, or through any other medium agreed to
<br />by said designated person(s) and the Bank, the wire transfer of such funds and (3) to arrange for such wire transfers to be
<br />effected upon instructions from others identifying themselves in accordance with procedures approved by such designated
<br />persons (all of the foregoing being "Withdrawal Orders"), and to endorse for deposit, negotiation, collection or discount by
<br />the Bank any and all checks, drafts, notes, bills, certificates of deposit or other instruments or orders for the payment of
<br />money owned or held by said Corporation; that the endorsement for deposit may be in writing, by stamp or otherwise, with
<br />or without designation or signature of the person so endorsing (except that, notwithstanding any other provision of these
<br />resolutions, no endorsement on behalf of this Corporation shall be required for deposit of any of such instruments or orders
<br />to an account of this Corporation with the Bank); and that any officer, agent or employee of this Corporation is hereby
<br />authorized to make requests of the Bank for the transfer of funds or money between accounts maintained by this
<br />Corporation at the Bank.
<br />Designation
<br />of Account
<br />1.50900gs 6,5
<br />Number of Names or Titles of
<br />Signatures Required
<br />f
<br />2. 02 `..5-c_-% }`_j (o S
<br />Persons Authorized to Sign
<br />1 ai
<br />2. ' LLU CO.
<br />, ,C)v6 iu r7
<br />FURTHER RESOLVED, that the Bank be and is hereby authorized and directed to honor, certify, pay and charge to any of
<br />the accounts of this Corporation all checks, • drafts, notes, bills, certificates of deposit or orders for the payment,
<br />withdrawal or transfer of funds or money deposited in these accounts or to the credit of this Corporation, for whatever
<br />purpose or to whomever payable, including requests for conversion of such instruments into cash as well as for deduction
<br />from and payment of cash out of any deposit, and whether or not payable to, endorsed or negotiated by or for the credit
<br />of any persons signing such instrument or payable to or for the credit of any other officer, agent or employee of this
<br />Corporation, when signed, accepted, endorsed or approved as evidenced by original or facsimile signature by the person(s)
<br />and the number thereof, designated by title opposite the designation of the accounts described in the foregoing resolution,
<br />and to honor any request(s) made in accordance with the foregoing resolution, whether written or oral, and including but
<br />not limited to request(s) made by telephone or other electronic means for the transfer of funds or money between
<br />accounts maintained by this Corporation al: the Bark, and the Bank shall not be required or under any duty to inquire as to
<br />fhn rirr: t ,, ,•ns• f �h� j u, .,,� apki.t.ation or use of proceeds thereof.
<br />FURTHER RESOLVED, that to the extent that any Withdrawal Orders executed by the persons designated herein to
<br />effect same on behalf of this Corporation exceed collected balances of this Corporation on deposit with the Bank, the
<br />Bank may, in its sole discretion but without any obligation on its part to do so, and without notice to this Corporation,
<br />honor such Withdrawal Orders, and to the extent that the Bank so elects, this Corporation hereby agrees that such excess
<br />payment shall constitute an obligation and liability of this Corporation to the Bank, payable upon demand of the Bank
<br />together with interest thereon until paid at a rate equal to two percent (2%) per annum in excess of the prime rate
<br />announced by the Bank and in effect from time to time (with the rate on such obligation and liability changing as and
<br />when such prime rate changes).
<br />
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