1987-09-21 - Resolution 1987-47 - REGARDING THE VILLAGE OF BUFFALO GROVE POLICE PENSION FUND SAVINGS ACCOUNTo13o1-.7 ircr'.,. RESOLUTIONS OF BOARO OF OIRECTORS CORPORAT|ON
Resolution /187- 17
A RESOLUTION REGARDIIE THE VILLAGE OF BUFrALO GROVE PbriCE PENSION FIJND SAVINGS ACCOUNT
do hereby cortify
thrt r !m tho dutv I sletd I' [_.P9o.ct 4 I
Vlllage Clerk
lnd quslllled 6.cr.rcr'!nd tho k.rper ol ths rscord! and corpor.t. selt ot $qil!Ilggg-91-
Buffal o Grove . a corporation organizod and existing und€r th€ hw8 ot
the State of I1l1nols 8nd lhat the following is a tru6 and corrgct copy of consin r6solutions duly
!doPigd 8t 8 meotlng of tho Board ot DirsctoB thoroof, convened and h€ld in accordaoce with law and the by-law9 ol said corporation on
th6 day of seP teEh e r . 19--.187-, 8nd that 3uch rosolu ons ar6 now ln rull lorco and sftect
!nd 4.6 not ln contrsvsntion ot, or ln conlllct with lho by-laws or th6 chErter or articles of incorporatlon ol laid corporation, and thst the
tollowlng rosolutlons 8l8o constlluts an sgresment by said corporation with Co.ttingntal 88nk ot Burfalo Grove, N.A. in rsspsct to th€
matlor! h€roin sat lonhi
SE lT BESOLVED, That Continental Bank ot Bullalo Grove, N.A. be End hereby is dosignatod as s
depo8itsry ol thls corporslion. Ths d€pogitEry rslstionship governgd by those rasolutiong and agreomgnB may be torminat6d by this
corporltion by wlin€n notlce to laid bank, or by sald bank by wrin9n notics to this corpor8tion.
8E lT FURTHER RESOLVEO, That tho tund3 of lhi3 corporalion may be doposltod by lts olrlcer3, ag€nts
and €mployges and thal tho Presidsnt, any vics Pr$id6nt,lhe Treasurer, any Assi3tant Treasurer, th€ Secr€t8ry. 8ny Assistant Secratary,
or any othor otlic€r ol thig corporation be 6nd hereby i9 authorizsd to open and mainlain an accounl or accounts with gaid Bank and togndor3o and deposit with laid Bsnk negoliablo instrumenlg and ord€.3 lor the paymgnt of mon6y which endorsements may be mado ln
writing or by a stamp and without dosignation of th€ pgrson so ondorsing. and it being undorsiood and agregd that on all guch ltemE
doposited all prior gndorssment3 aro guarant6ed by this corporation whethsror not expraggly incorporatgd th]erein. Said Bank may return
lo lhi! corporation any itom not qlgarly endorggd by the corporatjon, or may ondorae any such item on the corporaiion's behatf ln ordgr to
lacilltat€ collsclion. The Bsnk shEll not bo liable for any dslays in tha prgsentmont or rgturn of nogotiablo insirum6nts and ordorS lortheplym€nt ol money whlch ar6 not prop€rly endoB6d.
AND BE lT FURTHER BESOLVED, That sny , (ooe ous! bc Treasurer) of tho tollowinglt*"***", ,n" ".*,."",,."r r,." ",*,n"",,'ilX"rl'Jl'.i-"j.lTi'r'i.*',iiJl.Xil,jjilllil'"--*-r,.",
A$iolail{ee.et ryrc,Robert Back or Robert Greenberg or Edward Wagner or Scott Krlstlan sen
and Brian Rubln (V1l1age Treasurer) for actual wlthdrawals or anyone of the above
for lrlre transfer to speelflc Penslon Fund lnvestnent programs.
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.k t .co to..ddliio,ral fiL. or lo .utho,it. colnn -ion.tu..r Bqr. olr all aD.c- not .o or<,. nub ost tth. ot .( ollloa.t not .utnon..d to at!6.)
(or
of thi! corporstron bo authorized:
To make and lrom tlms to time continus to mlko arrangomonB and to t$u68uch inEtructiona as to { lla lrn"" r*, prop",
tor lha conduct ol lny wch lccount or accountr, and - - -- '- | thom I
To gign check! 8nd ordors lor the payment ot money wathdratving fundg from grid sccount or accounts whothor such checkslnd ordar! croato or lnctelgo an ovordrsfl ol said accounl or aciounts or notl(paymsnt or non paym€nt of any such overdraft to b6 at theoptlon of said Bank). and sald Contln€ntal gank ol Butralo Grove, ru.A. is nere6y authorizod a;d orrecteo iJ act ,pon and hono, anylnstructions so issusd and lo honor, pay and chargeio any account or accountg. ot this corporation allchsck! and ord6B for the payment ofmonoy lo drawn whon 3o Signed without inquiring as lo the clrcumstances ol th€ir i$ue or the disposition ot thair procesds, wh€th€r suchchock! b€ payable to tho ordor of, or endorsed or negotiated by 8oy ofticeror p€rson signing them, orany oisairoric;; or peBons in theirindlvid ual capacities or nol, and whslhorthsy Ero dopo3itod to th6 individu8l cr;dlt of o; reniereo tn paylneniot ttte inoiviouat ootigaton ortny ollicer or p€rson gigning th€m or of Eny ol tho othsr olricers ol personJ or not. and
To sndorgs lor nogotiation, nggotiale, and rgcoava the proco€ds ol any nggoliablg ingtrumonts or orders ,or th6 paymont olmonoy pEyable to or belonglng to thls corporttion, and
To idontify, approvs. ondorse, and guarEntge the ondors6ment ot any payes or sndorssr on any checks or drafts whothordrawnby thir co'poralion or anyono elss 8nd to gualanlee the payment tnereot, and detegate to ottrers authority to
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ia"ntity.
"pprore, "na€ndorle, and guara.ltso lhs gndorssmenl ol any payee oi endorser on any such che-cks or drafts and to gu'ariniee it e payment ttrereot.
(Ful. oul ll in.0olic.bl..)
Arro-a
dopositary ol th rs corgoration be and it is hel8hlL .equasLd,{rthorizld-sntutrEcTEtndFo norc ks. drafts or other orders ror the paym€ni
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corporation, and lo 3lgn ordgrs s.sueinslructionsforlhehandllng,transtsr,169istrs..,gsl€,3ubstitlrlion,exchang€,an ol
any bonds, slocks, s6cuaalig!, an(r prop6rty and tho proceeds there9t, de
ithdrawals, substitutions, exchanges. a
livered to )sited wit
nd deliv6riHhether su biect
d Bank lorh orolherwiso
thaaccount ol this corporation. Su\i /w
or not and wh9lher
purauanl to sale, exchange. or other tran3action, may alEo be mado by tho bearer ol any order,rsqusgt so signed, snd
To purcha!6 boods, Etocks. rgcuritiss, and othor proporty and to rc and i!!ue inllructions in connoction with tho
purchaso, the paymont, th€ regictration, and the delivory thereof, !nd
To soll, plsdge, tranglsr, aslign. exc spo3it wilh any reorgsnlzation commingg, bondholdgrs protoctive, or oth6r
similar committoo, or othsrwlsg disposs d9. gtock3, securitio3. and other prop€rty b6longing to or standlng in tho nam6 ot this
corporalion or it9 nomingg or h rs corpora tion fortheaccountot oth€rs, and to sign orders and issue instruclions regarding tha
handling ol any matlOrg with 6uch transoctions, and
idgntify and gusranteg a$ignm€nts, transters, and endorsgments tor transler on bonds, slock cartiticate!, Intgrlm,
ANO BE lT FURTHER RESOLVED, That this corporation agre6a to 6xamlns statemgntg of sccount snd
both Sides of sccompanying itsms 8nd to notily gank of any unauthorizsd gr missing signatu;e or alteration of any itom, orany 6rror in thoslalement, within thiny days from the dats it is available for examanation or the date it is maaled and agrs€s to notity thg BEnk of any
unaulhorizod or migging orforg€d sndorgomont within six mohths t.om tho d8tg it is avaitsbl6 tor 6xaminEtion or the datolt 19 mallod:tailurg
to so nolify lhe Bank as provlded above shall prgcludo this corpo.ation trom a$erting against tho gsnk .ny guch unauthorizod or missing3i9nltur€ gr endorsomont, alterltion, error, o. forgsry,
ANO BE lT FUBTHEB RESOLVEO, Thsl olch olthc aloromonlloned officorr, or prrsonr luthorlzod to lct
,or this corporation ln any c!!o ltoroEaid, !h!ll b6 and hsreby is lurlher authorizod, wlthout ths concurrcncr ol rnyolhorofllcarorpo6on:
To waivo Pressntmant, dsmand, protsst, and notice ol dlshonor or protost snd to give inEtruction3 in rogard to th€ handllng or
dclivory of any nogotiEblo or non-n€gotisbls p!p€r! or documentr involvsd in any tranEacti;n! lor or on boh8t, oithi! corporltion, ;nd
. To 3i9n reconcil€moni3 rnd cenlfy to tho corractnsss ot ltatomant! ol lccount and lpprovg rnd luthoriz€ adiultmentt thor6in,rnd
I,o act lor thig corporation in tho lrangaction ol all othsr busine!8 tor its account and to sigo ord€r! and i$uo Instruc onE to
Contlnent8l Bank ol ButtElo Groyo, N.A. ln connection thsroryith.
ANO BE lT FUnTHER RESOLVED. Thst lhs Secr€tary or any othor otlicsr of thi! corporatlon bo 8ndhoreby ir authorizsd lg cortify lo trid Contin€nt8l 88nk ot Bufl8lo Grovg, N.A. a copy of th999 rogolutlong and tho namo3 and Signaiurgg ofthl3 corporatlon'! olllcoru or employoo! heroby lulhorlrad to 8ct ln tha promlsa!;;nd ssid Bsnk is horoby luthorizsd to .aty-upon luchc6.tifical6.unlil lormally sdvised by E like co.tirlcEto ot any changs ther€in, and is suthorizod to rety on ;ny such sddi onsi corflricatesprovidod that any sdditional certilicales shall not be olloctivo with iespect to any check or other instrument toith6 pEymrnt ol monoy drtedon or prior lo the date ol such additional c€rtiticato bul pre!€nted lor paymeni afier receipt thorool by tho Bani.
ANY PROVISION HEBEOF which m8y bo dsclared unentorcasbla undar any law shall notaftect the validity ot any other provision hereot.
This sgreement shall bB govsrned by and construad in accordance with thg laws ol tho State ot lllinolr.
I FUBTHER CERTIFY THAT th6 rollowlng persons have b6€n appolntod or olected, hevequalified and ars now acting as orlicers or 6mployees or saio corporatioi iir tne capacity set oetoriiheirieepecrlve names:
OFFICER NAME OFFICER NAME
Chalrman o, lho Board
ol Oiroctors
Prssid6nt
Vice Presidont
Vic€ Prssidsnt
Vice Prssid€nt
Robert Back
Troaguror
Socretary
Comptrollgr
Agsistanl Tr6asuror
A$istant S€cretary
Brlan Rubln
Scott Krlstlansen
Menber Robert Greenber s,Me ber
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' ol th. tollowing (lnrn numb., ol rgnrlur..
End Contlnentrl Bank of Bullslo Grove, N.A. 9h8ll be 6nlitl6d to honor and to chsrgo this corporstion for all such chgcks,
ord6rE, rggardlgs3 ot by whom or by what means the lacsilnile signatures thoreon may have begn atfired lhereto, if such
or llgnatureg rslombls tho fEcaimile sp6cimens duly cenitied to or fal€d with Continontsl Bsnk ol Buflalo Grove, N,A,
othgr ollicor of lhis corporstion.
atls or other
ile signature
Secr6tary or
ANO BE lT FURTHER RESOLVED, Thal Eny of th6 Bbov€ n8m6d poBons may iss n oralorwrittgn slop
payment order whlch rnust specify the precise account number, payo€, d6te. amount and numb€r of th€ itsm (ich number should be
MICR sncoded if thg ii€m i8 a check). lt i9 furlhor E9r9gd lhal said Bank may honor 8nd charge to thls corporat hecks, drafls, or olh€r
orders lor the paymont of mon€y, Othe.wis€ prop6rly paysbte without regard to the date thsreon,8nd Ban
for any glop paymgnt ordsr placed on any such it6m9 alter payment lhgreot, but in advsnce of its dats.
ol bs rosponsible or liable
ANO SE lT FUBTHER RESOLVED, Thst any
Tho ChElrman ot th€ Board ol Oiroctorr, th6 Pre3id€nt, any Vlca pregiOentl'
ol the lollowing
.r.d.!hbr, ol !ig^.lur.. r.q
the Treasuror, any nt Treasur€r, the S€crotary, any
Aslistant Socrstary, or
(Ur. bh.t.p.c.. to,.ddttonlt titl.r or ro ruthorir! cou.t.rtig nrt! rus Fut. out !I.p.co. not ro Fur. oul Inr.. ol.rl ofllc.n nolrulho l.d io tlgn.)
of thig corporation b€ authorizgd upon such tgrms and conditions to him
thom
To borowmonsyand jncur tiabilitiss for. on beha[and in the na
rEcsivable, to gnter into, make, si9n. and d€liv€r rapurchase, revolving credit
Similsr sgreements, to 3i9n, stscute. and deliver acceptances and prom
and othor obligationg ot this corpo.ation for such amounls, lor such ti
rnd provrlions and ruch colarorat powona""l lllT. lsnarrseem
seem prop€r:
lhis corporation. to sellor discount its billg and accounts
m loan and other agreements, including subordinstion and
nol99 (including notog with a conlession ofiudgment Clause)
t such rate ol int€rest or discount, 8nd containing such terms
p€r, and
To recoive and rscoipt lor and to sign orderg and issuE i uclionsforth8 handling and deliveryolthe procood! of promissory
notes 8nd othsr obligationg, and
To plsdge, 6ndorge. guarants€, assign. lranster,nd d€liver the bills and accounts receivabls, bills ol lading. war€hous€
roceipts, stocks, bonds, or othgr prop€rty ol this corporat s sgcurily forany monsys borrow€d and as security for any li.bility incurr6d
or to bB incurrgd by this corporstion ln connection with a accsptance, notg. letter ol credil, guaranty, trust receipt Or Otherwlge, and
To grant llons (by way ot mortgage, pl , assignment. hctor's lien, trust recsipt, or any other ligns whsth€r similar ordisgimilar to the foregoing) on any and all propsrty r interest thgrgin (including, without timiting th€ ggn€ratity of the foregoing, rest
d accounls rEceivable, warehous6 receipts. stocks and bonds) from timo to timeproperty, chatlels, matgrislS, work in process, bil
ownsd by this corporalion, as securily lor an
becom€ owing from this corporation to Conti
3uch propgrty or intgregt lher6in and lo ex€cu
ys borrowed ancl any liabilitiss, direct or conlingent, now or hergafter owing or to
tal Bank ol Bultalo Grovo, N.A. and in connection th€rewith to ondors€ and deliver any
with respect ther€to, End
To buyEnd !€llrgrsign oxch €, to purchas6 letlers of credit, trsvsleB'checks, and similar in3trumentsan d lor, on behalfandin thg namg of thi! corporalion to incur abllitieg in connection therowith and in connBction with the purchase, sale, or nogotiation ol snybills ot sxcha ng6, let€19 of cred it. tr 6rs'check9, accoplances. dralts. bills ol tadi ng, and similar instrumgnls, and to receive and recaiptfor. snd sign rsceipt! snd t.urt pls thgrefoa, and to sign, execule, and delive r orders. spplicati on8, and agr€gm€nts in connaction
shEllsg€m proper.
End d€liv6r agregments conc€rning such security and th€ rights and pow€G ol said Bank
thsrowith, which orders, apptica s, Bnd agreomonrs may contain such provilions as to I IlIm I
ANO BE tT FURTHER RESOLVED, Thst any o, ths tolowing:
Dirscrors, rho pr6trdonr, !ny vic6,,",,0,",1'Hji"lIll!'J::",1fi$:'iliil""jJl.*,,lii!*",","r,
"ny
Th6 Ch6irman ot the
As!istant Sac.eta.y,
nr D...r ror.ddiio..t ur.. or td .utho,iz. coont raig tor.r. 8ut out .I rC.cn nol.o rrLd. Ful. od nfl.rotdro,ticl.. notaulhorlr.d to dln )
of this rslion b€ authorizod upon guch tarms and condilions lo him Shall seem propgr:
ks, sec u
To doliver lo 6nd dgposat wrth Continenlst Bsnk ol g ullBlo Grovo. N A. lor slltoioepin 0. cuslody, or othdt pllrpo!o! {rry tt(.trr{lawned or olherwtso h€ld by lhis corporalion ana, rn connoc lion lhororyrth lo opon !nd maintatn tNrlh86nk a
filres. and olhgr property o
salekeeping or cu3tody ac coUot or accounls and lo make lhs tnilisl dd posrl lhororn ltnd lrotn lrnlo to linlo lo nralo othor nul
them
lN ll-ilESS WHEREOF, I hsve subscrlbed my n\-/ aE Secrotary and h8vo csusod tha
corporate soal ol Said corporation lo be hereunto atfixod this 21 qt, d8y ol -lell-e-Eher-, 19 8 7
Alllx Corporlto SeEl Bltow:
t--l
Village Pres ldent
SEAL
v Clerk Sesrctjry
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