1987-02-02 - Resolution 1987-03 - AUTHORIZING THE OPENING OF A CORPORATE SAVINGS ACCOUNT FOR VBG WATER FUND\-/
RESOLUTION NO. 87 3
A RESOLUTION AUTHORIZING THE OPENING OT A CORPORATE SAVINGS ACCOIJNT FOR THE VIILAGE
OF BUFFALO GROVE WATER FUND
I' thc undersigncd, Do Hereby Ccaifu, thr;t thc folloving is a complcte, truc and correct copy of clrtain rcsolutions
of the Board of Directors of the Village of Buffalo Grove
(l{.6. ol.orpor.rion in lult)
a corporation duly organized and existing under thc laws of the State ol I llinois
r€solutions were duly adopted at a duly called mecting of the said Board, held on
Be It Resolved, that the
*hich
(N.lnc ol Strrc rh.r! o?8.[ir.dl
February 2 19 87 ,a(Dr!col mcdinB)
quorum being present and are set forth in the minules ol the said meeting; that I am the keepcr of th€ corporate seal and of the
minutes and records of this Corporation; and that the said resolutions have not been rescinded or modified:
F irst Arnerican ank of lake Co untv
be and hereby is d€signated a depositary in which the lunds of this Corporation may bc deposited by its offic.ers,
agents, and employees, and that the Village Treasurer
shall be and each of them hereby is authorized to endorsc for dcposit or negotiation any and all checks,
drafts, notes, bills of exchange, and orders for the payment of money, eithcr belonging to or coming into
possession of this Corporation. Endorsements for deposit may be by the written or stamped endorsement of the
company without disignation of the person making the endorsement.
Be It Further Reso/ved, that the Vl1lage President, Verna L. Clayton, or Village Clerk,
Janet M. Sirablan (one must sign) or Village l{anager, William R. Balling or
Flnance Director, Willian H. Brirmr (one must sign) (two must sing for \^/ithdrawaLs;
one must sing for wire transfers between approved accounts per Village Deposlt and
Investment Policy)
(Till6 ol ollicGrt .ndlor oth.r pcfiont trlahorizld ro dtn chcctr: ..8
olriccR :r. to ri8fl-rin3ly. rry l*o. or Fintlr. .tc.)
Prlrid.at. Tr!.tuEr. .tc.: rllo pL.t indicrl. in rhri ml,lmr lh rtov! nrrrd
of this Corporation (are) ([ authorized to SIGN ANY AND ALL CHECKS, DRAFTS, AND ORDERS, inctuding
orders or directions in informal or letter form, against any funds at any time standing to the credit oI 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 authorized to honor any and all checks, drafts and ordes so signed, including those drawn to
the individual order of any such officer andlor other person signing the same, without further inquiry or regard to
the authority of said office(s) andlor other person(s) or the use of said checks. drafts and orders, or the proceeds
thereof.
(Pl.rs. indicrt. in rhrl Inrnn.r th! .bovc n.mcd ot'tic.tt e,t to si$-.in8lr, rnv two ot
Fotfi a2476 Eanklormr. lnc.
johtly. .lc.)
sums
and to execute in the name o
borrowed, and thcy and each of them are
bills receivable or acctptancrs hcld by this
to pledge or hypothecatc as sccurity
rcrripts andlor othcr
dcliver an
as€s
sable,
paym ent oI any sums so
t} the said Bank any of thc notes,
such tsrms as thcy may deem advisable and
stocks, bills receivable, warehousc
, and to exccute and
any of the notes;
, accounts, sccu rities and/or propcrty o, thc
meBts or instrumcnts of assignment or transfcr which may bc
effectu<y to transfer to thc srid Bank the property so hypothccated or dclivercd;
Be It Fuaher Resolvcd, That this clrporation by its duly authorizcd agcnt, cntcr into atr agreemcnt
with thc said
cutcmPoraneously with the opening oI said accrunt whcreby said corporation agrecs in consideration oI
thc oPening of said account to assumc and pay all cxpcnses, costs and attorney's fccs incurred by said Bank in
any legal proceedings brought against the said Bank by rcason of thc said account and furthcr agEes that any
lunds in posscssion oI thc said Bank to the cr€dit of this corporation m.y at any timc bc applied toward paymcnt
of such exprcnscs.
Be It Fuaher Resolvcd, thtl each of thc forcgoing rcsolutions shall cpntinue in forcc until exprcss written
notic! of its rescision or modification has been rccrived by thc said Bank, but if the authority containcd in them
shoutd bc revoked or tcrninated by opcration of law vithout such notict, it is rcsolved and hcrcby agrced for
thc Purpose ol inducing the said Bank to act thercundcr, that the said Bank shall bc sayed harmless lrom any
loss suffered or liability incurrcd by it in so actirg aftcr such revocation or termination without such noticc.
I Fuaher Cedily lhall thc follorring namcd prcrsons arc thc officcrs of thc said Corporation, duly qualified and now
acting as such:
Village of Buffalo
Verna L. Clayton Asst. Secretary
Asst. TrsssutlrVicc-President
Vicr-President
for such times and upon such tcrms as may to them, or any o,
tion not6, drafts, or agr€cmcnts
authorizcd to
\''i I l aaeSrttlry Clerk Janet M, Sirabian Finance Director Willian II. Brimm
Trtasurer
In Witness
2n tl 6", o;Februarv
lilheraf, I havc hcrcunto subscribed my name and slfixcd thc scal of thc said Corporation, this
, A.D. 19 87
'ld.?n &*1""
wtSEAL
IMPORTANT:
Impriat Seal of
Corporation Hcre.
Janet \t Sirabian, Villag
Verna L. Clayton, Villag
e Clerk
iesident
Bank such
ln
President
Village Manager I,I11liam R. Balllng
Paul Kochendorfer