1987-06-01 - Resolution 1987-31 - CONTINENTAL BANK OF BUFFALO GROVE IS DESIGNATED AS A DEPOSITARY OF VBGD1301-47 N3/e4- RESOLUTIONS OF BOARD OF DIRECTORS
CORPORATION
IN WITNESS WHEREOF, I have subscribed my name as Secretary and have caused the
corporate seal of said corporation to be hereunto affixed this 1st day of Jun 19_87_.
Affix Corporate Seal Below: Village President.
Village 'Clerk
SEAL
ffSaammmy
L
ATTEST:
AYES: 6 - Marienthal, Glover, Reid, Shields, Kowalski, Shifrin
NAYES: 0 - None
ABSENT: 0 - None
PASSED: June 1
APPROVED: June 1
1987.
1987.
Resolution # 87- 31
1, Janet M. Sirtbian do hereby certify
Village Clerk
that I am the duly elected and qualified -and the keeper of the records and corporate seal of the Village of
Buffalo Grove
, a corporation organized and existing under the laws of
the State of Illinois and that the following is a true and correct copy of certain resolutions duly
adopted at a meeting of the Board of Directors thereof, convened and held in accordance with law and the by-laws of said corporation on
the 1st day of June 119 87 and that such resolutions are now in full force and effect
and are not in contravention of, or in conflict with the by-laws or the charter or articles of incorporation of said corporation, and that the
following resolutions also constitute an agreement by said corporation with Continental Bank of Buffalo Grove, N.A. in respect to the
matters herein set forth:
BE IT RESOLVED, That Continental Bank of Buffalo Grove, N.A. be and hereby is designated as a
depositary of this corporation. The depositary relationship governed by these resolutions and agreements may be terminated by this
corporation by written notice to said bank, or by said bank by written notice to this corporation.
BE IT FURTHER RESOLVED, That the funds of this corporation may be deposited by its officers, agents
and employees and that the President, any Vice President, the Treasurer, any Assistant Treasurer, the Secretary, any Assistant Secretary,
or any other officer of this corporation be and hereby is authorized to open and maintain an account or accounts with said Bank and to
endorse and deposit with said Bank negotiable instruments and orders for the payment of money which endorsements may be made in
writing or by a stamp and without designation of the person so endorsing, and it being understood and agreed that on all such items
deposited all prior endorsements are guaranteed by this corporation whether or not expressly incorporated therein. Said Bank may return
to this corporation any item not clearly endorsed by the corporation, or may endorse any such item on the corporation's behalf in orderto
facilitate collection. The Bank shall not be liable for any delays in the presentment or return of negotiable instruments and orders for the
payment of money which are not properly endorsed.
AND BE IT FURTHER RESOLVED, That any 2 (one must be Treasurer) of the following:
(Insert number of signatures required on each instrument.)
The f+iairrrnet-t-44-he-$eafd-9€9+lector&,-M9-Rcesi4er_a&W-Vir-e-Plesideat,St>�TteaSLLrE[.�II)LASSistarrt �reastrrer-tkieSesratar an.
Assistant-SesreteFy;-Gf- Robert Rack or Robert Greenbarg or Edward Wagner or Seott Kris iarrsun
and Paul Kochendorfer (Village Treasurer) for actual withdrawals or anynnp of tha
above for wire transfer to specific Pension Fund investment programs
_ (Use blank spaces for additional titles or to authorize counter -signatures. Rule out all spaces not so used. Rule out titles of all officers not authorized to sign.)
7
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of this corporation be authorized: (Rule out if inapplicable.)
0
Z To make and from time to time continue to make arrangements and to issue such instructions as to him shall seem proper
H for the conduct of any such account or accounts, and them
H tZ
Y O To sign checks and orders for the payment of money withdrawing funds from said account or accounts whether such checks
V e and orders create or increase an overdraft of said account or accounts or not, (payment or non payment of any such overdraft to beat the
Z
= IW option of said Bank), and said Continental Bank of Buffalo Grove, N.A. is hereby authorized and directed to act upon and honor any
V a instructions so issued and to honor, pay and charge to any account or accounts, of this corporation all checks and orders forthe payment of
Z money so drawn when so signed without inquiring as to the circumstances of their issue or the disposition of their proceeds, whether such
a checks be payable to the order of, or endorsed or negotiated by any officer or person signing them, or any of said officers or persons in their
individual capacities or not, and whether they are deposited to the individual credit of or tendered in payment of the individual obligation of
Z any officer or person signing them or of any of the other officers of persons or not, and
Z To endorse for negotiation, negotiate, and receive the proceeds of any negotiable instruments or orders for the payment of
money payable to or belonging to this corporation, and
f!�
To identify, approve, endorse, and guarantee the endorsement of any payee orendorser on any checks or drafts whether drawn
by this corporation or anyone else and to guarantee the payment thereof, and delegate to others authority to so identify, approve, and
endorse, and guarantee the endorsement of any payee or endorser on any such checks or drafts and to guarantee the payment thereof.
depositary of this corporation be and it is her onorc ec s, drafts or other orders for the payment
of the following: (Insert number of signatures require
on each instrument.)
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and Continental Bank of Buffalo Grove, N.A. shall be entitled to honor and to charge this corporation for all such checks, dr s or other
orders, regardless of by whom or by what means the facsimile signatures thereon may have been affixed thereto, if such facsi a signature
or signatures resemble the facsimile specimens duly certified to or filed with Continental Bank of Buffalo Grove, N.A. by t Secretary or
other officer of this corporation.
AND BE IT FURTHER RESOLVED, That any of the above named persons may issue a oral orwritten stop
payment order which must specify the precise account number, payee, date, amount and number of the item (wh h number should be
MICR encoded if the item is a check). It is further agreed that said Bank may honor and charge to this corporation hecks, drafts, or other
orders forthe payment of money, otherwise properly payable without regard to the date thereon, and Bank will n be responsible or liable
for any stop payment order placed on any such items after payment thereof, but in advance of its date.
AND BE IT FURTHER RESOLVED, That any of the following:
(Insert number of signatures require on each instrument.)
The Chairman of the Board of Directors, the President, any Vice President, the Treasurer, any Assis nt Treasurer, the Secretary, any
Assistant Secretary, or
(Use blank spaces for additional titles or to authorize counter -signatures. Rule out all spaces not so /eern
Rule out titles of all officers not authorized to sign.)
of this corporation be authorized upon such terms and conditions to himshall proper:
/auch
To borrow money and incur liabilities for, on behalf and in the corporation, to sell or discount its bills and accounts
receivable, to enter into, make, sign, and deliver repurchase, revolving creand other agreements, including subordination and
similar agreements, to sign, execute, and deliver acceptances and promiscluding notes with aconfession of judgment clause)
and other obligations of this corporation for such amounts, for such time of interest or discount, and containing such terms
and provisions and such collateral powers as to himshall seem pr
them
To receive and receipt for and to sign orders and issue inst ctions for the handling and delivery of the proceeds of promissory
notes and other obligations, and
To pledge, endorse, guarantee, assign, transfer, a deliver the bills and accounts receivable, bills of lading, warehouse
receipts, stocks, bonds, or other property of this corporation a security forany moneys borrowed and as security for any liability incurred
or to be incurred by this corporation in connection with any cceptance, note, letter of credit, guaranty, trust receipt or otherwise, and
To grant liens (by way of mortgage, pledg , assignment, factor's lien, trust receipt, or any other liens whether similar or
dissimilar to the foregoing) on any and all property or Interest therein (including, without limiting the generality of the foregoing, real
property, chattels, materials, work in process, bills d accounts receivable, warehouse receipts, stocks and bonds) from time to time
owned by this corporation, as security for any mogbys borrowed and any liabilities, direct or contingent, now or hereafter owing or to
become owing from this corporation to ContinenjAl Bank of Buffalo Grove, N.A. and in connection therewith to endorse and deliver any
such property or interest therein and to execute end deliver agreements concerning such security and the rights and powers of said Bank
with respect thereto, and j
To buy and sell foreign exchan e, to purchase letters of credit, travelers' checks, and similar instruments and for, on behalf and
in the name of this corporation to incur li ilities in connection therewith and in connection with the purchase, sale, or negotiation of any
bills of exchange, letters of credit, trave rs' checks, acceptances, drafts, bills of lading, and similar instruments, and to receive and receipt
for, and sign receipts and trust recei s therefor, and to sign, execute, and deliver orders, applications, and agreements in connection
therewith, which orders, applicatio s, and agreements may contain such provisions as to him shall seem proper.
them
AND BE IT FURTHER RESOLVED, That any of the following:
(Insert number of signatures required on each instrument.)
The Chairman of the Board of Directors, the President, any Vice President, the Treasurer, any Assistant Treasurer, the Secretary, any
Assistant Secretary,
(Use Lank spaces for additional titles or to authorize counter -signatures. Rule out all spaces not so used. Rule out titles of all officers not authorized to sign.)
of this corporation be authorized upon such terms and conditions to ) him them � shall seem proper:
To deliver to and deposit with Continental Bank of Buffalo Grove, N.A. for safekeeping, custody, or other purposes any bonds,
sto s, securities, and other property owned or otherwise held by this corporation and in connection therewith to open and maintain with
s d Bank a safekeeping or custody account or accounts and to make the initial deposit therein and from time to time to make other and
corporation, and to sign orders and issue instructions for the handling, transfer, registration, sale, substitution, exchange, and ry of
any bonds, stocks, securities, and other property and the proceeds thereof, delivered to, deposited with or otherwise h said Bank for
the account of this corporation. Such withdrawals, substitutions, exchanges, and deliveries whether subject to ent or not and whether
pursuant to sale, exchange, or other transaction, may also be made by the hearer of any order, rece , request so signed, and
To purchase bonds, stocks, securities, and other property and to si ers and issue instructions in connection with the
purchase, the payment, the registration, and the delivery thereof, and_
To sell, pledge, transfer, assign, exch posit with any reorganization committee, bondholders protective, or other
similar committee, or otherwise dispose of onds, stocks, securities, and other property belonging to or standing in the name of this
corporation or its nominee or hel is corporation for the account of others, and to sign orders and issue instructions regarding the
handling of any matters c cted with such transactions, and
identify and guarantee assignments, transfers, and endorsements for transfer on bonds, stock certificates, interim,
AND BE IT FURTHER RESOLVED, That this corporation agrees to examine statements of account and
both sides of accompanying items and to notify Bank of any unauthorized or missing signature or alteration of any item, orany error in the
statement, within thirty days from the date it is available for examination or the date it is mailed and agrees to notify the Bank of any
unauthorized or missing or forged endorsement within six months from the date it is available for examination or the date it is mailed; failure
to so notify the Bank as provided above shall preclude this corporation from asserting against the Bank any such unauthorized or missing
signature or endorsement, alteration, error, or forgery.
AND BE IT FURTHER RESOLVED, That each of the aforementioned officers, or persons authorized to act
forthis corporation in any case aforesaid, shall be and hereby is further authorized, without the concurrence of any other officer or person:
To waive presentment, demand, protest, and notice of dishonor or protest and to give instructions in regard to the handling or
delivery of any negotiable or non-negotiable papers or documents involved in any transactions for or on behalf of this corporation, and
To sign reconcilements and certify to the correctness of statements of account and approve and authorize adjustments therein,
and
To act for this corporation in the transaction of all other business for its account and to sign orders and issue instructions to
Continental Bank of Buffalo Grove, N.A. in connection therewith.
AND BE IT FURTHER RESOLVED, That the Secretary or any other officer of this corporation be and
hereby is authorized to certify to said Continental Bank of Buffalo Grove, N.A. a copyof these resolutions and the names and signatures of
this corporation's officers or employees hereby authorized to act in the premises, and said Bank is hereby authorized to rely upon such
certificate until formally advised by a like certificate of any change therein, and is authorized to rely on any such additional certificates
provided that any additional certificates shall not be effective with respect to any check or other instrument for the payment of money dated
on or prior to the date of such additional certificate but presented for payment after receipt thereof by the Bank.
ANY PROVISION HEREOF which may be declared unenforceable under any law shall not
affect the validity of any other provision hereof.
This agreement shall be governed by and construed in accordance with the laws of the State of Illinois.
I FURTHER CERTIFY THAT the following persons have been appointed or elected, have
qualified and are now acting as officers or employees of said corporation in the capacity set before their respective names:
OFFICER Name OFFICER Name
Chairman of the Board
of Directors
Treasurer
President Robert Back Secretary
Vice President
Vice President
Vice President
Member Robert GreenhPrc,
Comptroller
Assistant Treasurer
Assistant Secretary
Paul Kochendorfer
Scott Kristianson