1985-05-06 - Resolution 1985-28 - AUTHORIZING THE OPENING OF A CORPORATE SAVINGS ACCOUNT FOR VBG CAPITAL FACILITIES DEVELOPMENT FUNDRESoLUT r oN No. 85- 28
CORPORATION
A RESOLUTION AUTHORIZING THE OPENDING OF A CORPORATE SAVINGS
ACCOUNT FOR THE VILLAGE OF BUFFALO GROVE CAPITAL FACILITIES
DEVELOPMENT FUND.
I, the undersigne d, Do HctcbT catify, that the following is a complete, true and coffect copy of certain
resolutions of the Board of Directors of V IttAGE OF BUFFALO G ROV E
(N.n!. ol corDo.ntion h lull)
a corporation duly organized and existing under the laws of the State o tLLlN0ls
(N.Dc ol sr.t! w!.6 ortun[cd)
which resolutions were duly adopted at a duly called meeting of the said Board, held o
19 8q , a quorum being present, and are set forth in the minutes of the said meeting; that I am the keeper
of the corporate seat and of the minutes and records of this Corporation; and that the said resolutions have
not be€n rescinded or modified:
Be It Rcsobcd, that t
Y6
be and hereby is designated
posited by its officers, agen
a depositary in which the funds of this C,orporation may be de-
ts, and employes, and that th
shall be and each of them hereby is authorized to endorse for deposit or negotiation any and
all checks, drafts, notes, bills of exchange, and orders for the payment of money, either be-
longing to or coming into possession of this corporation. Endorsements for deposit may be
by the written or stamped endorsement of the company without designation of the person
making the endorsement.
CLERK,JANET M. S IRAB IAN (ONE MUST S IGN) AND V ILLAGE MAN GFR LlltII R RA LL ING
OR FINANCE DIRECTOR, I,JILLIAM H. BRIHM (o NE MUST SIGN) .
of this corporation (are) (is) authorized to sIGN ANY AND ALL CHECKS, DRAFTS,
AND ORDERS, including orders or directions in informal or letter form, against any funds
at any time standing to ihe cretlit of this Corporation with the said Bank, and,/or against
any account of this corporation with the said Bank, and that the said Bank hereby is
auihorized to honor any and all checks, drafts and orders so signed, including those drawn to
the individual order of any such officer and/or other person signing the same' without fur-
ther inquiry or regard to the authority of said officer(s) and/or other person(s) or the use
of said checks, drafts and orders, or the proceeds thereof'
aTrtli ot omcer. .Ddlor othcr D.non! aurhorlted l,o .im
i.! tDG rbov6 o.!t.d'oEGr. arc to .la.-.rntlt. t!, lro'
ch€ct.i .. a.: Prc.id.tt. Tt r.ucr. .lc.: al$ plca!. ndlc.lt lo tb'! mln
Be lt Futthct Resolvcd, that the-
(Pl..r indl..L b rlrrt o.all.t tb. .!.tr r'a'd o o".o .r" t" .aa-.tnalr. .a, ato. or lolnrtt. ctc-)
BANK OF BU FFALO GROVE
BeItFt hq Resobcd,l|p1 1[e vILLAGE PRESIDENT. VERNA I. Cl AYTON 0R VllIAnr
N/A
' of this Corpor.rtion (are) (islauthorizetl to borrow from time to timXn behalf of this Cor-poration from the said Bank guch sumg of money for such times and upon such terms ." mryto thcm, or any of them, seem advisable, and to execute in the name of'the Corporalion notes,drafts, or agreements for thc re-payment of any sums so borrowed, and they and each ofthlrnr are hereby authorized to discount with the said Bank any of ihe notes, bills receivableor acceptances held by this corporation upon such terms as they may deem advisabre andto plcdge or hypothecate as security to said Bank any of the notes, bonis, stocts, biirs receiv-able, ua'ehouse r"'ceipts and/or other documents, accounts, sccuriiics ani/or property of theCorporntion, and to cxccute and deliver any and all endorsements or instrunrents of assign-nrent or transfer which may be necessary or proper in such cases effc.ctua y to transfer tothe said Bank the property so hypothecated or delivered;
Be lt Fsthct Rcsobcd, that this corporation by its dury authorized agent, enter into an
agreement with the sai NK OF BU FF ALO G ROVEd
contemporaneousl y with the opening of said account whereb said eorporation agrees in con-vsideral ion of the opening of said accbunt to assume and pay all expenses, costs and attorn ey sft'es incurred by said Bank in any legal proceedings b rought against the said Bank by reason
ank to theof th e said account and further agrees that any fun ds in possession of the said B
c r,.'d it of this corporation may at any ti me be appli ed torvard payment of such expenses.
Presiden + VERN L. C LAYTON Asst. Secretary-
Vice-Presiden
8c lt Further Resobed, that each of the foregoing resolutions shall continue in force un-til e-rpress rvritten notice of its rescision or modification has been received by the said Bank,but if the authority contained in them should be revoketl or terminated by operation of lawnithout such notice, it is resolved and hereby agreed for the purpose of ind-ucing the saidBank to act thereunder, that the said Bank shall be seved harmless from any loJs sufferedor liability incurred by it in so acting after such revocation or termination without such
notice.
I Asst, Treasu
Vice-Presiden Y ILLAGE DANAGEE wr,LLl AI,l B! BALL ING
lerk JANET ll. SIRABIAN FINANCE DIRECTOR \./ILLIAM H. BP.IMM
Treasurer AI'L KOCH ENDORFER
It wi,aest Whercot,I have hereunto subscribed my name antl affixed the seal of the said Corporation,
this-5Lb-day of Ha A. D. 19 85.
SEAL &"S."^.
vil I ag C lerk -Ssclor.ry.
IMPORTANT:ATTE ST
Imprint Seal ot
Corporation Here.
P
vt age P res ident
I Fwthet Ccrtily that the following named persons are the ofhcers of the said Corporation, duly quali-
fied and now acting as such:
I]
ITEM XII. (E)
TO:
FROr'r:
DATE :
SUBJECT:
Wi I l iam R. Bal ling
lliI Iiam H. Erimm
April 23, l9 85
Capital Facil ities Development Fgnd
s ss.lsAttached, please find a Resolution for consideration by the President and
Board of Trustees on Hay 5, ,1985 that authorizes the opening of a corporate
savings account to be used for the deposi t of funds generated on behalf
of the new Capital Facilities Development Fund. This is the Capital
Projects fund that has been establ ished for FY 1985-1985 for all activitiesrelative to the proposed Police Station and Public Service Center capital
deve Iopment,
am r mm
J