1983.02.07 RESO 1983-1 - Laserfiche WebLink

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RESOLUTION 1983-1 CORPORATE AUTHORIZATION RESOLUTION I, Mary Ann Creager, do hereby certify that I am ggit Clerk City of Hugo Federal Employer I.D. Number 41-0954838 , a corporation organized under the laws of the State of Minnesota , and that the following is a true, complete and correct copy of resolutions adopted at a meeting of the of said Corporation duly and properly called and held on the — 7th day of Febru , 1983 ; that a quorum was present at said meet mg; that said resolutions are set forth in the minutes of said meeting and have not been rescinded or modified. RESOLVED, that First State Bank of Hugo hereinafter sometimes called the Bank be and it hereby is designated as a depository for the funds of this corporation and any officer of this corporation is hereby authorized to open or cause to be opened an account or accounts with said Bank on such terms, conditions and agreements as shall be required by said Bank, to endorse or cause to be endorsed, in the name of this cc:rpora- tion and to cash, to negotiate or to deposit or cause to be deposited in such account or accounts any money, checks, drafts, orders, nates and other instruments for the payment of money and to make any other agreements deemed advisable in regard thereto. RESOLVED FURTHER, that checks, drafts or other withdrawal orders issued against the funds of this corporation on deposit with said Bank may be signed by any One CCWbinat:LCQf the following: (Insert one or Two) and said Bank is hereby fully authorized to pay and charge to the account of this corporation any checks, drafts or other with- drawal orders, so signed, including those payable to the individual order of the person signing the same and including also checks or other withdrawal orders payable to the said Bank or to any other person or corporation, which are applied in payment of any in- debtedness owing to said Bank from the person or persons who signed such checks or other withdrawal orders. RESOLVED FURTHER, that any one combination of the following: $Insert One or Two) SEE AZTACHM be and I-ereby are authorized to borrow money for and on behalf of and in the name of this corporation; to make any ag:eernents in respect thereto; and to sign, execute and deliver promissory notes, acceptances or other evidences of indebtedness therefor, or in renewal thereof, in such amounts and for such time, at such rate of interest and upon such terms as they see fit; and are hereby authorized to endorse, assign, transfer, mortgage, or pledge to said Bank the bills receivable, warehouse receipts, bills of lading, stocks, bonds, real estate or other property now or hereafter owned by this corporation as security for the payment of any money so borrowed; to assign or negotiate to the Bank any bills receivable now or hereafter owned by this corporation, and to discount the same; to unconditionally guarantee payment of any or all bills receivable so negotiated or discounted, and to waive demand, protest and notice of non-payment. RESOLVED FURTHER, that this resolution shall continue in force until express written notice of its rescission or modifica- tion has been furnished to and received by said Bank. RESOLVED FURTHER, that all transactions, if any, in respect to any deposits, withdrawals, rediscounts and borrowings by or in behalf of this corporation with said Bank prior to the adoption of this resolution be and the same hereby are in all things ratified, approved and confirmed. RESOLVED FURTHER, that any of the persons above-named be and they hereby are authorized and empowered to rnake any and all other contracts, agreements, stipulations and orders which they may deem advisable, from time to time, with said Bank in respect to transaction between this corporation and said Bank in regard to funds deposited in said Bank, moneys borrowed from said Bank or any other business transacted by and between this corporation and said Bank. RESOLVED FURTHER, that any and all resolutions heretofore adopted by the Board of Directors of this corporatic.n and certified to said Bank as governing the operation of this corporation's account(s) with it, be and are hereby continued in full farce and effect, except as the same may be supplemented or modified by the foregoing. M • ♦ f N N M i R I further certify that the Board of Directors of this corporation has, and at the time of adoption of said resolut,on ha f, full power and lawful authority to adopt the foregoing resolutions and to confer the powers therein granted to the persons narnc{f who have full power and lawful authority to exercise the same. In Witness Whereof, I have hereunto subscribed my name and affixed the seal of this crnnnr;tfiQn this 7th day of Februar IMPRINT ) SEAL ? �_��)'Y)c �� _ •fes it-��-�'_ . L f ._r _• 't.i HERE' Attest by One Other Officer �C Mayon' City Clerk NOTICE: Prt.pare this form in duplicate — Forward the original copy to the Bank and retain the duplicate- copy for your files. Also, complete all other forms furnished by the Bank (such as signature card, lease forms, etc.) and forward them to the Bank immediately, as they are absolutely necessary to carry out the directives of this authorization.