1988-07-11 - Resolution 1988-38 - REGARDING THE VBG FIRE PENSION FUND SAVINGS ACCOUNTVl1lage of Buffalo Grove
Publlc Fund
19--8!-, a quorum being present, snd are set forth in the minutes of the said meeting; ,#ii"ll*ti'l L*r*
of the corporate sesl and of the minutes and records of this Corporation; and that the said resolutions have
not beeu resclnded or modified:
00002s25-20
RESOLUTION NO. 88-38 CORPORATION
A RESOLUTION REGARDING TIiE VILLAGE OF B UFFALC GROVE FIRE PENSION FI'ND SAVINGS ACCOI'NT
I, the undersigred, Do Hctcbt CatilT, lhat lhe following is a complete, true and correct copy of certain
resolutions of the Board of Directors of Village Of Buffalo Grove
(N.d6 o, @.rD..Xoo ltr tutt)
a corporstion duly organized and existing under the laws of the State of Illinois
(N.oo ol Strtc eh6r6 olarnlred)
which resolutions were duly adopted et a duly called meeting of the said Board, held
Bc It Rctobcd, that the Bank of Buffalo Grove
be and hereby is deeignated a depositary ia which the funds of this corporation may be de-
posited by its ofEcers, agents, and employes, and thst the Villaqe Treasurer
shall be snd 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 designafion of the person
making the endorsement.
Be It Futther Rcsobed, Lhat t Villaee President Verna L, Clayton or Tiuro thy
Sashko, Fund Sec reEary or Willian H. BriDn,Finance Director (on ) and
Joseph Tenerel 11. Vlllase Treasurer (ust sien)- Onc eionei-',r af qaw al a bove
to author iz e 11cy
(Trtl.. ol omc.r. rDdn.r th. .boY. o&t.d /of orbc! D.rDr. .uahorl4al to .tar ch.cl.: .. ar.: Pr!.ldcot. Trrt.ur!..ac.: rtro Dlc!.c nrdiclr. tn wh.i b.n.orn..r. .lj. ao .itD--iDtlr. .lr, tro. o!,olDtlr. !ac.)
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 the credit of this Corporation with the gaid Bank, and./or against
any account of this Corporation with the said Bank, and that the said Bank hereby is
authorized to honor any ond 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 :aid officer(s) and/or other person(s) or the use
of said checks, drafts and orders, or the proceeds thereof.
Bc It Fwthet Rercbcd, that the
(Pl.r.. inali.rlc h what orDn.r t[o rbor. n.E.d odle!..r! to n.n---.ilr.lr. .n, rro, or johrrr. !rc.)
nh Julv 11.
poration from the said Bank such sums of money for such times and upon such ter may
to them, or any of them, seem advisable, and to execute in the name of the ion notes,
drafts, or agreements for the re-payment of any sums so borrowed, and and each of
thr'm are hereby authorized to discount with the said Bank any of
may deem advisable and
to plr ige or hypothecate as security to said Bank any of otes, bonds, stocks, bills receiv-
able, warehouse receipts and/or other documents, ac ts, securities and/or property of the
Corporation, and to execute and deliver any en dorsements or instruments of assigzr-
ment or transfer which may be necessar proper in such cases effectually to transfer to
the said Bank the property so hypo or delivered;t
Be It Futthct Resolyed t this corporation by its duly authorized agent, enter into an
agreement with the
contemporaneo th the opening of said account whereb said corporation agrees in con-]'sideration e opening of said account to assume and pay all expenses, costs and attorney'sfees in by said Bank in any legal proceedings bro ugh t against the said Bank by reasonofsaid a ccount and further agrees that any fund s in possession of the said Bank to the
Bc It Fwthq Resobcd, that each of the foregoing resolutions shall continue in force un-til express written notice of its rescision or modification has been received by the said Bank,
but if the authority contained in them should be revoked or terminated by operation of law
rvithout such notice, it is resolved and hereby agrced for the purpose of inducing the said
Bank to act thereunder, that the said Bank shall be saved harmless from any loss suffered
or liability incurred by it in so acting after such revocation or termination without such
notice.
I Fnthct CcttilT that the following named persons are the olficers of the said Corporation, duly quali-
6ed and now acting as such:
Asst. Secretary-
Vice-Presiden
Vice-Presiden
t Asst. Treas
t Finance Dlrec tor Willlam H. Br1
Secretary TimothvSashko
Treasurer Joseph Tenerelli
Ia Witnets Wheteol,I have hereunto subscribed my name and affixed the seal of the said Corporation,
this-llth d ay of Trr'l w A. D. 19 88
Village
7n 8diG,,,.
SEAL
IMPORTA]flI:
Imprint Seal of
Corporation Here.
e
age Preside t
Sectet ryl
bills receivableor accept:rnces held by this Corporation upon such terms as
p"".16ar1 Verna L. Clayton
i ll