1986-11-17 - Resolution 1986-77 - CONTINENTAL BANK OF BUFFALO GROVE IS DESIGNATED AS A DEPOSITARY OF VBGRESOLUTION NO. 86- ,
RESOLUTIONS OF BOARD OF DIP"iTORS
Janet M. Slrabian
ol30t-a7 NUoa
do hereby certity
r r6cordgand corporats seal ol Ihe Vlllage of
Rr ffalo c rove
, a corporation organiz6d and existing undor th6 lawa ot
Ehe State of I11lnois and lhat lhe following is a true and corrgct copy o, cartain r€lolutions dutyadoptgd st a me€ting ol the Board ol Directors th€reol. con v€ned and held in accordance with law and the by-taws ol s.id corpo.ation on
ANO BE IT FURTHER RESoLVEo, Thst any 2 (one for \rire tran sfers It the tottowing:
=FffiiEkma'otsthr€oridd€ir6ro's,-thsF,.!idqr,tisnr,uictr?r.oidsi.'.$#x*I#*'}I#lHHl,l'ffi!","*""",
-*!!irt it€Gcrr,rart!. lan
orlo tulhoriz. countlrrEnrtur.r Fur. out lll rp.c...ot 30 u!.d. Fut. ost trt.j oi. onic.[ not.uinonr.d to!9n.)
(or-any othor ollicaG. ag6nts or employees who may he.oaft€r bq dolign8tsd in w.iting byof thir corDo.ation bo authorizod:
6" 17th dayo, November ,19--9.6-, and that such resotution3a.6 nowin tul torc€and ettsctand a'9 nol in contravention ot' or in conllict with tho by-laws or the charter or articles o, inco.poration ot said co.por8lion, 8nd th.t the
'ollowing
losolutions also consiitute an agr66menl byiaid corporstion wilh contin€ntal Bank of Buftalo G.ove, N.A. in resp€ct to themattgr! h6,9in set forth:
To endorse lor negotiation, negotiat€, and rec€ive th€ proceed! ot any negotiable instruments or ordoB lor the payment otmoney payable to or belonging to this corporation, and
To idenlify, approve. endorse, and guaranl€6 the endorsement ofany payee or6ndorseron any checks or drarts whether drawnby lhi3 corpoElaon or anyong else and to guarante€ lhe paym€nt the.eol. 8nd deiegate to othe6 authority to so identily, approve, andenclors6. and guaranlee the andorsement ol any payeo or endorser on any such cheiks or drafts and to gu;rantee th€ paym6nt thereof.
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depositary ol lhis corporation be and il is h
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COFPORATION
t.
BE lT RESOLVED, Thsl Continental Bank of Butfalo crovo, N.A. be and heroby i3 dosignatad as a' doposilary ol this corporstion. The depositary relationship govorned by these resolutions and ag,eem€nts msy b€ te.minatod by thiscoipo.ation by written notics to said bank, o. by said bani bt vrritten notico to this corporation.
BE lT FURTHER RESOLVEO, Thal th6 funds ol this co.poration may be deposited by its officaB, agent!and enployoos and thet thg presidenl, any Vice president, the Troasurer. any Assistant ireasurer, tne Secie-tary. any ististanf Secr6tary,or any oth6r otlicer ot this corporalion bs and hgreby is authorazed to opeoand m8intain an account or accounb wath said Bank .nd toendorse and d€posit with said Bank negoliable instrumgnts and orders ior the payment of money which endorce.nenE may be msdg inw.iting or by a slamp and without dqsignation of the person so gndorsing. and it being undersiood 8nd agre€d that on all such itomgdeposit6d all prior gndorsements are guaranleed by this co.poratio. wh€th;r or not expressty incorporated the.gin. Ssid Bank may returnlo this co.poration any item not clearly endorsed by the co.poration, o. may sndolse any suih item on the corporation'3 behall in orde.to
'acililate
colleclion. Tho Bank shall not be liable fo; any doiays in thg prss;ntment or return of negotiablo insiruments and orders for thepaymant ot money which arq nol property endo6ed.
(hor. oll n h.99llc.!b.)
To make and lrom time to lime continue to make ariangements and to issue such instructions 8s to I lI1 I
lor ths conduct ol any such account or accounrs, and - '- -- '- l lhem I !h!ll8€em propor
. To sign chscks and orders totths payment ol money withdrawinE lunds lrom said account oraccounB whgthe.such chsck3and ordsrs create or incraase an overdraft o, said account or aciount3 or not,-(payment or non paym€nt orany such ovord.att io be at lhsoption of 38id Bank), and said Continental Bank ot Buffalo Grovg. N.A. i9 hereby authorized and dirgcted io act upon and hongr anyinst.uctions so issu€d.nd to honor, pay and chargeto any account oraccounts, of this corporation aI checksand ord6r!forthe payment oimoney rc drawnwhen so signed without inquiring as to the circum3tances of their issue orth6 disposition ol their p,oceods, whstisrsuchchgcks bo payable to lhs order of, orendorsed or negotiated by any ottico, or psrson signing them, oranyofsaid otfica13 or psrsons an thea.individual capacities or nol. and wheth€rthey ars deposited toih€ ;ndividual ;redit ot ortenaered in payment of tho individuat obtigation otany olticer or porson signing them or of any o, ths other officers ot persons or not, anct
E;
IF
aPPear thereon as srgneror srgn?
of tht follorving: \//
and Continen
orders, regardl
or signalur€s
other oflicer of thi
Paymsnl order which m
MICB encoded if the item
orderslorthe paymentot
for any stop payment orde rp
The Chairman of the Board of Di
Assistant Sec.etary, or
{Utrbl.rl tp.c.!ro..ddnroo.tr .!o,to.Ulnonr!
ol this corporation be authorized upon such lerms a
To borrow mongy and incur tiabilaties tor, on
rocsivabls, to enter into, mak6, sign, and deliver re purchase
simalaragre€msnB, to sign, execute, and deliver ptances
and other obligations ol this corporation forsuc
and provisions and such coltaterat powsB a3 to
ts,
ereol, \uhen beanng or purportrng to bear lhe tacs srgnature(s ) ot any ----------------\J (h$rr numb.r ot !'g^.tur.. r.qur.d
ks. dralts or other
h facsjmjle signature
A. by lhe S€crelary or
issue an oral or written stop
(which number should be
o.ation checks, drafts, or olher
k will not be responsible or liable
raqu .d o...ch.n3lrufra.t )
Assistant Treasurer, the Secretary, any
g,zot-
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EJtl!3oq,o
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u.od Aur. out titt !o,.ttotic.6 oor.utnon.d ro 3i9n )
all seem prope,:
ol lhis corporation, to sell o. discount its bills and accounts
rm loan and othe. agreements. includang subordination and
notes (including notes with a contession ot judgment clause)
, at such rate ol jnterest or discount. and conlaining such lermsamoun
him
them
h
shall s roper, and
To receiveand receipttorand to sign ordersand issue ctions forthe handling and delivery of the proceeds of promissorynotes and other obligations, and
To pledg€, endorse. guarantee, assign, transler billg and accounts receivable. bi s of lading, warchousereceipts, stocks, bonds. orother property ol thiscorporati moneys borrowed and as security for any Iiability incu.redor to b9 incurred by this corporation in connection rvith a elter O, credtl.guaranty. lrust receipt or otherwise. and
dissimilar I
To grant liens (by way of mortgage, pled trusl recaipl, or any othe. ligns whother simitar o.o the for€going) on any and all prope iy ithout timitin g the generality ol the loregoing, realprop6rty, chatt€ts, materials. work in procsss, bil ls se receipts, stocks and bonds) trom time to timegwned by this qorpoi-ation, as secu.a ty tor any m I or contingenl, now or hereatter owing or tobgcome owinO from lhis corpor.tion to Contin nnection therewith to endorse and deliver ansuch propgrty or intorest therein and to €xec
wilh .espect ther€lo, and
urity and the righls and powers of said gank
To buyand sell lor6ign excha ilar inslruments and tor, on beh6ltandin lh6 name of this corporation to incur li purchas6, sale, or negotiation of anybills of exchange, tetters ot credit, travel ruments, and loreceiveand receiptfor, and sign rac€ipts and trust recei
therewith, which orders, applicat
ol the tollowing
The Chairman of the Board rer, the Secreta ry, ar|y
Assistaht Secrstary, or
(uta bl.^r ap.c.r tor addrlionrt ti B or to autho.:s counl!4'9nrlur.t. R ula oul.rr !p.c.! not ro us.d nut. out ubiol llt otncorr .ot .uihorirld to !ign.)
ot this corporation be aulhorizod upon such terms and conditions lo him
ihem shall seem proper
and agreemenls in connection
seem proper.
rs. the Presldent. any Vice President. the Treasurcr, a
BD E FUT EFRTH That an alhe nbove edam mvrsonspe
lhesp€ci ty ee a Uo npay ofber eth
ca h It furseck hert threed at sa Bard nk ha9 o anor cnd h e rh ISat9
ot he seey ba rthproperl uto a td h epayv Ireg
ced b ut an dva nce o,dals
B na ofk N hs a b e a hdcto a lh s o ra io hc cr9etpSU
oof or aby ea s ethby si resnalu nthereo am h a ve be ailIv xed sbmlesendspeciUcertediliollhcontalneBaklyofurlaloaGle the facsi
orporation
on any 3uch itemg aftor payment the.eol,
D BE lT FURTHER RESOLVED. Thar any
!rgn.tu..t. Fola our tll spacaa.
condilions to
It and in the na
volving credi
d promi
I him
I them
ch li
. to purchase lette.s ol credit. travelers'checks, and
lities in connection lherewith and in connection with
'checks, accaptances, dratts, bills of lading, and samilar i
therefor, and to sign, €xgcute, and deliver orders. applicati
Oir€ctors, the President, any Vics President, thg Treasurer, any Assistanl T
sh
(l nr.rr .onb.. ot lEnrtu r.t r.qur@d on
ND BE lT FURTHEB RESOLVED, That any
nd deliver
s security lora
nd deliver agreements concerning such
I Bank ot Butlalo Grove, N.A. and in
eys borrowed and any liabaltties,
nd accounts rgceivable. wareh
inte.est therein (including,
, assignm€nt, factor's I
To delrver to and deposit wilh Continental Eank of Burtalo Grove, N.A. for safekeepang, custody. or other purposes any bonds,
ll?jlt; iiYlllii^110_o-lher propenv owned or otherwise hetd by rnis corpoiation ano in conneciion therdwirnio op!n ano maintain wirnsdrs oanK a salexeeprng or cuslody accounl or accounts and to make the initial deposil therean and trom trme to ti;e to make other andadditronal deposits and to srgn orders and issue instructions to said Bank lor the conduct of said account or accounts. anct
of the following:
honorBuffaloGrove,enti ed to lor all
lacsrmile thereto.
to liled
number.
R ESO LVEO,of
accountprecise date.and
tomay
to anddate thereon,
and agreements msy contain such provisio". * a I ll}. I
acceptahce,
TO-ut&dtarr'€Cei! C re68ipl 19. _^n,t^ wilh.tra'r upen trBgt re€etf
corporation, and tO Sign orders av.s
any bonds, siocks. securities, and othe
at the risk
ue instructions for the handling. lransfer, registL-r4, sale, substitution, excha ivery ol
rproperty and lh€ proceecls thereol, deliver€d to. deposited with orothe ldbysaid Bankfor
th€ accounl of lhis corporatlon. Such wilhdrawals, substitutions. exchanges. and deliveries whqther su p aym€ntor notand wheth€r
purcuant lo sale, exchange, or other taaosaction. may also be made by the bearer ol any o . or request so signed. and
To purchaso bonds, slocks, sacurities, and other prg o sign orderc and issue instructions in conneclion wilh the
purchase. the payment. the registration, and the delivery nd
To sell. pledge, transler.hange. deposit with any reorganization commattee, bondholders protectivq, or olher
similar commiitee, or otherwise of any bonds. stocks, secunties, and other property belonging to or standing in the name of thise
corporalion or ils nomi eld by this corpo.ation ,or the accounl of others, and to sign orders and issue instructions regarding the
handling ot any connect€d wath such lransactions, and
To idenlily and guarantee assignmehts, transfers. and endorsements for transfer on bonds, stock certilicates, int6rim,
ANO BE lT FURTHEB RESOLVEO, Thst 6ach of thsalorementionod officers, or pe.sons authorized lo.qtforthiscorporatign in anycase alorssaid, shal! be and hereby is funher authorized, wilhout the concurence ot a;y otherotficer orpe13on:
To waivo pre3anlment. demand, protest, and notice ot dishonororprotest and to give instructions in.egard to the handlang or
delivery of any negoliable o. non-negotlable papers or documenls involved in any transactio-ns for or on beh8[ oaihis corporation, ;nd
To sign reconcilements and certify to thscorsctnessof stalements ofaccount and app.ovg and authoriza adiustmsntsthgrein,
and
- To act torthis corporation in tha transaction ot allother business lo, its account anO'to sigrn oraeE and issue instructions to
Continsnlal-Bank of Buffalo Grovg, N.A. in conn6ction ihorewith.
ANO BE lT FURTHER RESOLVEO, That th€ Sscrelary or any other otficer ot this corporation bo.nd
hereby is authorized lo certity to said Continental Bank ot Buffalo Grove, N.A. a copy ol these reiolutions and the names and signatures o,
this corporation's olticers or employees hereby authorized to act an the premises, and said Bank is hereby authorized io rely-upon such
certificate until lormally advised by a like certiticate of any chan99 therein, and is authorized to rety on any such additional certificat€sp.ovided that any addilional certilacates shall not be etlective with ;espect to any check orother instrument for the payment of money dated
on or prior to the dal€ ot such additional ceniticale but presented for payment after receipt thereof by the Bank.
ANY PROVISION HEREOF which may b6 declarod unentorceable under any law ghall not
at ect the validity ot any other provision hereof.
This agreement shall be governed by and construed in accordance with the laws of th6 State of lllinois.
I FURTHER CERTIFY THAT the lollowing persons have been appointed or electod, havequalified and are now acting as ofric€rs or employ6es ol said corporatio; in the capacity set berore their respectivo names:
OFFICEB Name OFFTCER Name
Chairman ol the Board
ot Oirectors
Presidenl
Vic6 President
Vics President
Vice President
J3lres-}4---SiE3+i€n--
Treasurer
ffiffi cr".r.
Comptroller
Assistant Treasurer
Assistanl Secrelary
?aul Kocheodorfer
Vll1age Manager Willian R.Balling Flnance Dlrector Wi1l1am H. Brlmn
Vernq I. Cl ryrnn
AND BE lT FURTHER BESOLVED, That this corporation agrees to eramine slatements of account and
both sides of accompanying items and to notify Eank of any unauthorized or missing signaiu;e or a[eration of any item, orany eror in the
statement, within thirty days trom th6 date il is available for examrnation or the date rt is mailed and agrees to notily the Bank of any
unauthorized or missing or lorged endorsement within six monlhs from th6 date it is available for examinaii;n or the date it is mailed: failura
to so notily the Bank as provided abov6 shall preclude this corporation trom assBrting againsl the Bank any such uoauthorized or misging
signature or endorcemenl, alterataon, error. or torgery.
IF{ITNESS WHEREOF, I h8va subscribsd -i*r" e3 Secretary and hav8 crusea lhe
corporata soal o, said corpora on to b6 hareunto affirod this 17th
At ix Corporutr So.t Bctow:
day o,November ,1s_!q .
g""h^,
gaerctary
V111age Clerk
ViJ-Iage I
r
L
SEAL
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