1988-07-11 - Resolution 1988-39 - REGARDING THE VBG POLICE PENSION FUND SAVINGS ACCOUNTD13n:.17 r{ra. RESOLUTIONS OF BOARD OF DIRECTORS
RESoLUTIoN N0 88 - 39
A RESOLUTION RIGARDINE TEE VILTAGE OI' BUFFAIO GROVE POLICE PENSION FI'ND
CORPORATION
SAVINGS ACCOI]NT
I,J anet M. Slrablan do hsreby cortity
that r am rhe dulv I eletts I' I rPpo+Eted I
Buffalo Grove
the Vlllage of
, a corporation organiz6d and exisling under the l6ws of
the State of Illino is and that the lollowing is a truo and correcl copy of cenain rcsolutions duly
adoptod al a meeting ol the Board ol Di.ectorc thor6or, convensd and held in accordancE with law and tho by-laws of said corporation on
the day o, .Tn 1 y , 19-l-L, snd thal such rssolutions are now in full force and etl€ct
and ars not in contravention ot, or in conllict with lh9 by-laws orihe chaner orarticles ot incorporation ol said corpor.tion, and that the,ollowing rgsolutions also conslitut€ an sgreement by said corporation with Continenlal Bani o, Buflalo Grove, iil.A. in respect to the
mattsrs herein s€t lorth:
BE lT RESOLVEO, Thal Continonlsl Bank ol gutlalo Grove, N.A. b€ and hereby ls designated as a
depositary ol this corporation. The dgpositary rolationship govern6d by thess resolutions and sgreements may be terminited by thiscorporation by writt€n notics to said bank, or by said bank by w.itten notice to this Corporation.
BE lT FUBTHER RESOLVED, That the funds ol this corporation may b6 deposited by its office13, agents
and employees and that the President. any Vic€ President, the Treasurer, any Assistant T.easurer, th; Secreiary, any Assistant Secritary,
or 6ny other oflicer of this corporation be and hereby is authorized to opgn and maintain an account or accounts with s6id Bank and to
endorse and deposit with said Bank nsgoliable instruments and orders for the payment ot monsy which endo66m€nts may b€ made inwriting or by a stamp and wilhout desighation of the psrson so endorsing, and it bsing undgrsiood and agr6ed that on all such items
deposited all prior endorsements are guaranteed by thiscorporation whelh€r or not expr;ssty incorporat€d flierein. Said Bank may r6turn
to this corporation any rtem not clearly endorsed by the corporation, or may gnd0rs9 any suih item on tho corporation's bohalt in ordertofacililate collection. The Bank shall not be liable lor any dslays in the presentm€nt or return ol negoliabl€ insirurn€nts and orders for thepaymenl of money which ar€ not propgrly endorsed.
VlJ.lage Clerk
8nd qualitied Sge+ete.:t and th€ keep€r o, the rgco.d8 and qo,po.ato seal ol
ANO BEIT FURTHER RESOLVED, That any 2 (one nust be Treasurer of the tofiowing:
'r'"cr"i,."n o, rn" "o.,0 or oi,."ro.", tt" p...io"nt,
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v,." p,""io"nt,(lll"il'IlJ.l"lTi'iT"!1'tft"i,iTl,Lllllilt.",rrr.y,-^v
Robert Back or Robert Greenber g or Edward Wa ner or Scott Kristlansen
and Joseph Tenerelli (Vtllage Treasurer ) for actual rrlthdrawals or anyone of the above
for wlre transfer to speciflc Penslon Fund lnvestment pro Srarrs .
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ol this corporalion be authorized:
,or the conduct of any such account or accounts, and
(nub od lr tn ppIc.ob.)
nsements and ro issus such insrrucrions as,o I lllll | .rr"'r.*, lrol.,
(Us€ bl.nl !p.cd lor lddilio.rl I'lret or lo &r[orir.cou.t r!|gn.rur... Bur. our.rr !p.c!. nor !o u..d.8ul. out ti{.. ot !l olflc!.t not |ljthodtad lo ign.)
To mak€ and from time to tims continue to make a.ra
. To sign checks and orde6 forthe paymeni ol money withdrawing tunds lrom said account or accounbwhethsr such checksand orders cr9ate or increass an overdraft ol said accouni or accounts or not:(payment or non payment of any such overdraft lo be ai theoption of said Bank), and said continental Bank of Butfalo crove, N.A. is hCreLy authorized a;d directed io act upon and honor anyinstruclions so issued and to honor, pay and chargg to anyaccount or account3, ofthis corpo.ation allchecks and o.derslorthg paymentoi
money so drawn when so signed without inquiring as to the circumstances of their issue or the disposition ot thsir p.ocEads, wh€t'hor suchchecks be ptyabl€ to ths orde. ot, or endorsed or nggoliatsd byany otlicer or person signing them, o. any o, said offlcers or persons in thgirindividual capacities or not, and wheth€rthey a16 doposiled to tho inaividual iredit ol oiteniered in payment ofths individuat obtigston ofany oflicer or psrson signing them or of any of the other officers ol p6€ons o, not. and
To endorso tor n€gotiation, n€gotiate, and rsc€iv€ th€ procaeds of any negoliab16 instrumants or orde6 for the paym€nt otmoney payable to or belonging to this corporation, and
. To identify' approv€, endorse. and guarantee the endorsoment of any payee or endoGer on any checks or drslts whether drawnby this corporation or anyon€ else and to guarantee th€ payment thereot, ani deiegate to oth€rs auth;riry to so identify, approv€, andendorse, and guaranle€ the endorsement ot any payeE or endorser on any such checks or drafts and to guaranteg thg payment ih€reof.
depositary of this corporation be norc ecks, drafts or otherorders for the payment
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r lhereon as sign€a or srgn€rs thsreot, when bearing or purponing to beartherac!,ollowing:lsnoeanngorpurportingtobealthe'acsimilesignature(s)ofany{rn..ffi il;16G."r,'.r ..q..d
on 6lch ladrum.nt.)
and Contine Bank of Buffalo Grove, N.A. sha be eniiled to honor and to cha rge this corporation for all such checks. drafts or othororders. regard s of by whom or by what means the facsimile si gnaturesthereon may have be€n affixed thereto, il such facsimiles ignatureor signatures mbl€ thg facsimil€ s pecimens duly certitied to or filed with Continental Eank of Buftalo Grove, N.A. by the Sec rclary otother ofricer ol th corporation
ANO AE lT FURTHEB RESOLVEO, That an yot the above named persons may issue an oralorwritten stopPaymenl order which st specily the precise account number,payee, date, amount and number of the item (which number should beMICR €ncoded il the ite s a check). lt is further agreed that said Eank may honor and charge to this corporation checks, drafts. or otherorderc for the payment of ney, otherwise properly payabt€ with out regard to the date thereon, and Bank wiI not be responsible or tiabtetor any stop payment order aced on any such items atter payment thereof, but in advance of its date
ND BE lT FURTHEB RESOLVED. That any of the following
The Chairman of the Board of Oi
(u$ brint 3p!c.. fo, .dd'tronlt tiio! o, to aurhonto nrrur€!. Fur. oor . 3t'.c6r .ot to us€d. 8ut! our riit.r ot ! oltic.r! .ot luthoriu.d io ,ign.)
him
them
( tntGd .u6b.r ot .igrErur€s ,.quir.d on ..ch inttrum.nr. )grs, the President, any Vice President, the Tr€asurer, any Assistanl Treasu.er, th€ Secretary, any
ot this corporation be aulhorized upon such lerms condilions to
To borrow money and incur liabitities for, on hali and in the name of this corporation, to sellordiscount its bilts and accountsrec€ivable, to enter inlo. make, s ign, and deliver repurch revolving credit, term loan and otheragreements, includi ng subordination andsimilar agreements, to sign, ex ecute, and deliver ac nd promissory notes (including notas with acontess ion oI iudgment clause)and other obligations of this corporation for suc
and provisions and such collateral poweB as lo
such lime , ai such rate of interest or discount, and containing such terms
eem proper, and
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To receivs and receipt for and to sign orders and issue i
notes and other obligations. and
ructions tor the handling and delivery of the proceeds ot promissory
To pledge, end orse, guarantee, assign, transter, and delive the bills and accounts receivable, bills ol lading, warehousereceipts, stocks, bonds, orother property of this corporation as security fo
or to be incurred by this corporation io connection with any acceptance.. Ietter of credit, guaranty, trust receipt or othe rwise, and
moneys borrowed and as security for any liabitit y incurred
To grant liens (by way of mortgage, pledge, assignment, lactor,s n, trust receipt, or any other liens whother similar ordissimilar to the loregoing)on any and all property or interest therein (includin without limiting lhe generality o, the loregoing, realproperty, chaltels. materia ls, work in process, bills and accounts receivable. wa use receipts, stocks and bonds) from time to timeowned by lhis corporation , as security for any moneys borrowed and any liabilit irect or contingent, now or herealter owing or tobecome owing lrom this corporation to Continental Bank ol Buffalo Grove, N.A. and i nection therewith to endorse and deliver anysuch property or interest therein and to execute and delivor agreements conc€rning suc ecurity and lhe raghts and powers of said Bankwith respect thorsto. and
To bu yand sellrorgign exchange, to purchasoletters of credit, travelers'checks, a srml lar inslruments and lor, on behall and
purchase, sale, or negotiation ot any
struments, and to receivgand receipt
in the name of thi 3 corporation to incur liabilities in connection therewith and in connection wbills ot exchange,letters of credit, trave lers'checks, acc€ptances, drafts, bills ol lading, and simifor. and sign receipts and t.ust recei pts theretor, and to sign. execute, and deljver orders, appli ions, and agreemenls in conneclion
ther€wilh, which o.de6, applications, and agre€ments may contain such provisions as to I
him I
lhem i ll seem proper
ANO BE lT FURTHER RESOLVED, That any
(ln$rt numb.r o, 6ignrtures r6qun.d on
sur€r, the Secretary, anyThe Chairman ol the Board of Directors, the pr€sident, any Vice presid ent, the Treasurer, any Assistanl
Assistanl Secretary. or
(U.. bl..t .p.c.. ,or .dd nionat ti 6s or to lurhorizacounr..-sio nrrure!. nul. oul.rl !pac6. dot ro u3ed. Rur. our tilo. ot.lt oflic.[ not.uthori:.<,
of lhis corporation bs authoriied upon such terms and conditions to
To dellv€rto and deposit with Continentat Bank ot Buffato
him
them shall seem proper:
A. for safekeeping,Grove, N custody, or other purpos€s anystockS, securities. and other property owned or olherwise held by this corporalion 8nd in connection therewith to open and maisaid Bank a safekeeping or custody account or acc0unts and to mak€ lhe initial deposit therein and from time to time to makg olheradditional deposits and to sign orders and issue instructions to said Bank for the conduct ot said account or accounts, and
nds,
Assistant Secretary, or
shallseem properI
of the lollowing:
t
corpbration, and to sign o.ders and issu€ instructiong for the handli ng, transler, regislration, sale, substitulion, exchange,a ryolany bonds. stocks, secuities, and otherpro perty and the proceeds thereol, delivered to, deposited with orotherw rse said Bank lor
the account ot this corporation. Such withd rawals. substitutions, exchanges, and deliveries whelher subject ent or nol and whether
pursuant to sale, exchange, or other transaction, may also be made by the bearer of any order,
To purchase bonds, stocks. socurities, and other propeny and to ers and issue instructions in conngclion with the
Purchase. t he paym€nt. the registration, and the detivery th€reot, and
To sell, pledge, transrer, assign,exch posit wilh any reorganization committe€, bondholders protectiv€, or other
similar com mittee, or otherwise dispose ol nds, stocks. securities, and other property betonging to or standing in the name ot this
corporation or its nominee or he s corpo ration lor the account of others, and to sign orderg and issue instructions regarding thohandling ol any matters with such transactions, and
identify and guarante€ assignments, transfers, and andorsements for transfer on bond3, slock cert iticales, interim.
ANO BE lT FURTHER RESOLVEO, That 6ach of theafor€mentioned otfic€.s, or p6.3on3 autho,ized loact
lorthis co.poration in anycasE sforesaid, shall be 8nd hgrgby is turth6rauthorized, without th6 concurence of any oth6rollicer or pgrson:
To waive presonlmenl, demand, protest, 8nd notics ot dishonororprotest and lo give inslructions in r99a.d lo ths hsndling or
dellvery ot any negoliabla or non-negoliable paperg or documents involved in any transactions fo. or on behalt oi this corporation, and
To sign rsconcilements and certify tothe corroctnsss ofstatemgnts olaccount and approveand authorize adjustments thsrein,
and
_ To act lor this corporalion in the lransaciion ot allother busing$ lor its account and tg sign orders and issue instructions to
Contingnlal Bank of Buffslo Grovg, N.A. in connection thor€with.
AND BE lT FURTHEB RESOLVED, That lhis corporalion agre€s to examine statemedts ot account and
both sides of accompanying items and to notity Bsnk ot any unauthorized or missing signatuie or a[eration ot any item, orany error in th€
statemenl, wilhin thirty days from th€ date it is available for examinalion or the date it is mailed and agrees to notify the Bank of any
unauthorized or missing orlorggd endorsement within six monlhslrom the date it is availabte lor examinatiin or th9 date it is mail€d:failure
to so notity the Bank as provided abovg shall preclude this corporation from asserling against the Bank any such Ltnauthorized or missing
signaturE or eadorsoment, alteration, 9rror, or forgery.
AND BE lT FURTHER RESOLVED. That lhe Secretary or any othe. officor ol this corporation be and
h€reby is authorized lo certily to said Continental Bank ol Bufralo Grove. N.A. a copy ot lhese resolutions and the names and signatures ol
this corporation's otficers or employe€s hereby authorized to acl in the pr6mises, and said Bank is hereby authorizsd to rely upon such
certilicate until tormally advised by a like certiticate ot any change th6rein, and is authorized to rely on any such additionsa cgrtificatesprovided that any additional certaficates shall not b€etfective wath resp6ct to any check or other instrument forthe psyment ol moneydatedgn or prior to the dats ot such additional certiticatg but presented for payment aft€r receipt thoreof by the Bank.
ANY PBOVISION HEREOF which may be declared unenrorceable under any l8w shall not
altect th6 validity ot any othor provision hgrsor.
This agreemont shall bg govsrned by and construsd in accordanco wilh ths laws of the Stat6 ot lllinois.
I FURTHER CERTIFY THAT the following persons hav6 boen appointed or electsd, havsqualiliad and are now acting as ofticers or employess o, said corporatio; in th6 capacity set betoro thsir rsspBctivs nam$:
OFFICER Namg oFFIoER Name
Chairman ol lhe Bosrd
ot Directors
President
Vice Prssident
Vice President
Vice Presidsnt
Uember
Baek
Treasurer
Secrotary
Comptroller
Assigtant Treasurgr
Assistant Sscrolqry
Menber
.Josanh Tana pl l l
Scott Kr ls t i.ansen
Robert Greenber P,Edward Wasner
request so si9ned, and
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lN WITNESS WHEREOF, I have subscribed my name as Secretary and have caused the
corporat€ seal o, said corporation to be herounto affixed this l tth day of July ,le-ix .
Atfix Corporatg Seal Betow:r .l\', I
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vil Clerk
Village Presldent
S€€r€ta{y
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)ror<r xva
A RESOLUTION
RESOLUTIONS OF BOARD OF O' :TORS
RESoLUTIoN N0 88 - 39
REGARD ING TltE VILLAGE OF BUFFALO GROVE POLICE PENSION FI'ND SAVINGS ACCOI'NT
CORPORATION
that tam the durv I €l@td I. t appe.etod ,
Buffalo Grove
Janet M. Slrablan do herEby certity
Vlllage Clerk
and qualitiod Sgo€t€.ia and thg keoper ot the rsco.ds and corporats ssal ot the Vlll-age of
AND BE lT FURTHER RESOLVED, That an, 2 (one must be Treasurer ot $e rolowing:(lnxd nuDb.rol.agn tur!! r.qulr.d on.rch an.rrum.nr.)
. a corporation organized snd 6xisting und6r the laws ot
the State of I1lino ls
and that the following is a lrug and correcl copy of certain resolutions duly
adoptod at a megting of th6 Boa.d ol Directors lhsreot, convened and held in accordanca with law and lhe by-laws of said corporation on
the I I rh dayol -Tu'l y ,19--88-,and thatsuch rssotutions ars now tn fu forcoand etfect
and aro not in contravgntion of, or in conlllct with the by-laws or the charter or adicles ol incorporation ol said corporation, and that ihstollowing resolutions also constituto an agrgement by said corporrtion with Continental Bani of Buffalo Grore, i{.n. in ,espect to themattoB hersin get fodh:
BE lT RESOLVEO, That Continental Bank ot Buflalo crovo, N.A. bs and hereby is de3lgnated as a' depositary ol this corporation. The depositary relationship govgrned by thesg r€solutions and agresm€nls may be terminited by thiscorporalion by written notico to said bank, or by said bsnk bi writgn notice to this co.poration.
BE lT FURTHER RESOLVEo, That th€ lunds of this corporation may b6 deposited by its olltc6rs. agentsand employees and thal ths Presideni, any vice Presidenl, the Trgasursr, sny Assislant Treasurer, the Secreia.y, aniissistant secrA".y,or any oth€r orticor ot this corporstion be and hereby is suthorized to opeoand maintain an account or accounts with said Bank and toendorse and deposit with said Eank negotiable instruments and orderc ior ihe payment of money which endors€menls may b€ mado inwriting or by a stamp and without designation ol the porson so €ndorsing. and it being undersiood and agr€od that on sll such itemsdeposit€d all prior endorsements are guaranteed by thiscorporalion wheth;ror not expresgly incorporstgd therein. Said Bank may relurn
lollis corporation any itom nol clearly endorsed by the corporation, or may ondorse anysuci item on the corporation's behalt in order tolacrlrtate collection. Thg Bank shall not b€ lisble lor any delays in the pregentment or return of negotiable insiruments and ordsrs ror thepayment o, money which aro not properly endorsed.
Robert Back or Robert Greenber g or Edward l,rragner or Scott Krlstiansen
and Joseph Tenerelli (Village Treasurer) for actual wlthdrawals or anyone of the above
for wire transfer to speclflc Penslon Fund lnves tment prograEs.
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of this co.poration be authorized:
r,,,n""""#lXl:""i,Xd,:;TJfflijlX"":*ll":etodmak€arransementsandtoissuesuchrnstructionsastol lfll), f"n"ur*,0,or",
To sign check3 and ordeB fo-rthe paym€nt ol money withdrawing funds lrom said account oraccounts whgth€r such check3and orders create or inc.aalsan overdratl o, said account or aciornt" oinoi,"(p"vrn"nt or non paymgnto, any such overdralt to be at th€option ot said Bank). and said continental Bsnk ot Bufl8to crove, N.l. is nJre6y au0rorized'a;d ;ir;i; io-iii ,ipon
"no
nono,
"nyinstruction-s so issuod and to honor, pay and chargelo any account oi
"""orni", ortH""orpora on allchocksand ordors forthe paymentofmonev eo drawn when so sionod wlthout inquiring as to tire circumstsnceeoti;eir issu" o? tni oirpo"irion oi ihe];;;;;;eds, whethersuchchecks be payab16 to tho ord6.ot. or ondorcio or iegotiateo ly ani oni""r - p"rson
"igning
them. orany of said ollce6or peruons in thetrindividual cspaciti€s or not. and whother they are oe-posited toirre inotriou"-lJrLit or o, t€ndsr6d in payment of the individuat obtigation ofany ofllcer or percon signing them or ot an! ot tne btner ofteri ot f"i*i.-o', not,
"no
To e'dorse for n€gotiation. heg-orialo. and rac6iv€ the proce€ds of any negotiabls instrumgnts or orders for th6 payment otmon€y payabte to or belonging to this corp;rr on, and
To idenlity' approv€. gndorse, and guarantee theendor3emenl otany payes orendors€r on 8ny checks ordratts whothgr drawnby lhis corporation or anvone else and to guirantee ttre paymenitn"i"ori aia. o"r"g"t" to orha.s aurhority to so identity, approve, andendorse. and guarante€ the onc,orcement jr anv pav"e oi.iJoae, on i-nvluln
"n""r" or d.arts and to gua.anto€ tho paymsnt thereol.
(Ful. oul i, in.ppllcrbt€.)
depositary of this corporatiohbea norc ecks, drafts orotherorders torthe payment
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lherson as gignerorsignerslher€.''hen boaringorpurporting to bearthelacsimilesign-' .e(s) otanye tollowing
Payment order which spec
MICR encoded it the ite sach
orders for the payment of ney
for any stop paymsnt order
NO BE lT FURTHER RESOLVED, That any ol the following
( lnre.l . um60r ol signaturc! r.quired on.!€n tn!trum.nr.)The Chairman of the Board of Di tors, the President. any Vice President. the Trgasurer, a ny Assislant Treasurer, the Secretary, any
Assistant Secretary, or
(1,1..!l.nt !p.c!! tor additionrt rarb3 or to.uthoriz.Ftlgn.l!r... 8ul. our .ll rp.clr not.o u..d. Ruts oul lillcr ol .I ofilc..r not lurhortz.d lo !ign.)
of this corporation be authorizsd upon such terms conditions to him
them shall saem proper:
To borrow money and incur liabilities lor, on half ahd in the name of this corporation, to se or discount its bills and accounts
AND BE lT FURTHER EESOLVED. That any of the above named persons may issuean oralor written stopity the precise account number. payee, dar6, amount and numbgr ol the it€; (which number should beeck). lt is further agreed that said Bank may honor and charge to this corporation ch€cks, dratts, or other
, otherwise properly payabr6 without regard to rhe dare therton, and Bani wiI not bs responsibre or riabre
ed on any such items after payment thereof, but in advance of its date.
(l.s6n numb.r o, s,gnat!16!.6.i
on 6ich i.lr.umsnt )
d promissory notes (including notes with a conlessao n otjudgmenl clause)
and Contine Bank of Butfalo Grove, N.A. shall b€ entifled to honor and to cha rge this corporation for all such checks. drafis or otherorders, regard of bywhom or by what means th€ tacsimile si gnatures lh€reon may have been atfixgd th€reto, if such facsimile signatureor signatures rnble the tacsirnite specimens du ly certified to or filed with Continental Eank ot Buffalo Grove, N.A. by the Secretary orother olricer of th corporation
receivable. to enter rnto, make. sig
similar agreements. to sign, exgcu
n, and deliver repurch revolving credit, term loan and other agreernents, includi ng subordination and
le, anc, deliverac ce
ls,and other obligations ot this corporation lor suc
and provisions and such collaleral powers as to
such time , at such rate ol interest or discount, and containing such terms
eem proper. and
To receive and r9c€ipt lor and lo sign orders and issue i
notes and other obligations, and
ructionstorth€ hand,ing and detivery ol the procogdg of promissory
To pledge. endors€, guarantee, assign, lransfer, and delive the bills and accounts receivable, bills of lading, warehousereceipls, slocks, bonds. orother prope.ly ot this corporation as security for ny moneys borrowed and as secu.i ty tor any liability incurredor to be incurred by this corporation in connection with any acceptance, n , lener of credit, guaranty, trust receipt or otherwise, 8nd
To g.ant liens (by way of mortgage, pledge, assignment, factor,s n, trust receipt, or any other liens whgthgr similar ordissimilar to the loregoing)on any and all propeny or anteresl therein (includin without limiting the generatity of the foregoing, realproperly. chattels. materials , work in process, bills and accounts receivable, wa use receipts, stocks and bonds) lrom time to timeowned by this corporation,as security lor any moneys borrowed and any tiabititae irect or conlingent, now or hereafter owing or tobecome owing from this co rporation to Continental Bank of Buflalo Grove, N.A. and i onnection therewith lo endorce and deliver anysuch property or inter$t th erein and to execute and deliver agreements concerning suc .ity and the rights and powers of said gank
with respgct thereto, and
To buy and sellloreign exchange, to purchase letters of credit, travelers,checks, a similar instruments and lor, on behalf andin the name ot this corporation to incur liabilities in connection therewith and in conn6cllon w purchase, sale. or n69otiation of anybills of exchange, letters of c redit, travelers' checks, acc€ptances, dratts, bills of lading, and simi nstruments, and lo rec€iveand receipttor, and sign receipts and t rust receipts lheretor, and to sign, exscute, and deliver o.ders, appli ions, and agrcements in connection
him
them allse€m proper
ANO BE IT FURTHER RESOLVEO, That any
(ln!€n numb.r ot sig.aru..i ..qut.d on
The Chairman ot the Board ol Oirectors, the president. any Vice preside nt, the Treasur€r, any Assistant T rer, the Secretary, any
Assistant Secretary, or
(Ur. bl!.k tP.c.! lor lddillon.lltl.! or to rurhoraz€ counb.-lign.turor. Eulo out.ll!prc...ot ro ur.d. Furc our ri{.. ol.llotlic.r! nol rurhorir.d
ot this corporalion b€ authorized upon such terms and conditions to him
them shall s€em proper:
To d€liver lo and deposit with Continental Bank of Butfalo Grove, N.A. for safekeeping. cuslody. or other purposes any
stocks. securities, and other property owned or olherwise held by this corporataon and in connection therewith to open and maintai
h
ceptan
amoun
him
them
said Bank 8 sareke€ping or custody account or accounts and to make the inilial deposit therein and from tim0 to time to make othar
additional deposits and to sign orders and issue instructions to said Bank lor the conduct o, said account or accounls, and
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therewith, which ord€rs, applications, and agreements may contain such provisions a9 to
of the lollowing:
I
cArporatioo, and to sign orde
f€-+ilhd+*x.--re€.'^: end reegipl fer aod te withd{aw up€n truEt r€6
rJoth6rproperty and the proceeds thgreol, del
d issue instructions forth€ handling, transfe r, reg r
ivered\,:d
on, sal€, substitution, exchange,a ofany bonds, stocks, sgcuriiies,e9 osited rvith orotherwise said Bank for
the account otthig corporati on. Such withdrawals. substitutions, exch anges, and deliveries whether subiect ornotandwh€th6rpursuant to gale, exchange, or oth€r taanagction, may also b€ made by the bearer of any order.i rgquost so signsd, and
To purchase bonds, stocks, securities, and oth6r property and to rs and issue inslructions in connection with thgpurchasg, the paym0nt, th€ registration, and th€ delivery th6 reof. and
To sell, plgdge, transler, assign,6xc h
similar com mittee, or othe.wise dispose of
it with any .eorganizalion committe€, bondholders protective, or oth6r
, stocks, securiti€s, and other property belon ging lo or standing in the name of thiscorporation or its nominee or hel s corpo €tion for lhe account ot oth€rc, and to sign ord ers and issue instructions regarding th€handling oi any matters wilh such transactions, and I t.
o identify and g ualantee assignmenls. tlanaleIs, and endorsemenls tor iranstBr on bond3. I tock certificalgs. intorlm.
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AND BE lT FURTHER RESOLVEO, That this corporation a9regg lo eramino statemorr1s ot account andboth sides of accompanying items and to notify Bank ol any unauthorizgd or missing signat;e oralteration ol any item, oranyerror ln thestal€m€nt, within thirty dsys trom the date it is available for examination or ths d;ts it is mailed and agrees t; notily ths bank of anyunauthoriz€d or missing or lorgEd 6ndorsEment within six months from th6 date it is available forexaminati;n or thgdatoit l8 msil€d;lailu16lo so nolily the Bank 83 provided above shall proclude this corporation trom assgrting against tho Bank anysuch unauthorlzed or misgingsignatu.e or endo6em6nt. alteration, error, or lorg6ry.
AND BE lT FUBTHER BESOLvED, That e8ch of theaforem€ntionod ottice13, or persons authorized to acttorthis corporation ln anycass aforssaid, shall be and hereby is turtherauthorized, withoul the concurrenca ol any otherolticoror per3on:
. To waive pr€s€ntm€nt, dgmand. p.ot6t, and notice ol dishonor or prot$t and to 9iv6 instructions in .egard to the handling ordslivety ol any negotiable or non-negoiiable papeB or documents involvod in any lransactidns tor or on behEll oithi! corporation, ;nd
To sign reconcilements and certity to th€ corectness of statemgnts ot account and spproveand authorlz€ adjustment3 theroin,and
To act to. this corpo.ation in the transaction of all other business for its account and to sign ordgrs snd is9u6 instructions toContinent8l Bank ol Buffalo Grove, N.A. in connsction thsr€with.
ANO BE lT FUBTHER BESOLVED. That th€ Secretary or any other oflice. o, this corporstlon be andhereby is authorized to certily to said Conlinental Bank ol Butlalo Grovs, N.A. a copy ot these resolutionsand lhg names and signatures o,
th is corporation's ofticsrs or employees heroby authorized to act in the premises, ind said Bsnk i9 hgreby authorized to rely upon suchcertificate until tormally advised by a like certiricEte o, any change theroin, and is authorized to rely on ;ny such additlonai csniflcatosprovided thal sny additionalcertifical$ shall not be stfective with ;espgct to anychec* orothsrinstrument to;the paymgnt ol mongy dEt€don or p.ior to the date ot such additional certilicatg but pr$ented for payment attgr rgceipt thoraof by the Bank. '
ANY PROVISION HEREOF rvhich may be doclared unenforceable under any law shall notartect the validity of any other provision hereof.
This agreement shall be govorned by and construed in accordanc€ with the laws ol tho State o, lllinois.
I FURTHER CERTIFY THAT the ,ollowing persons hav6 been appointed or 6lected, havequalitied and are now acting as otficers or €mployees of said corporatio; in the capacity set belore lheir respactive names:
OFFICER Name oFFICER Name
Chairman ot the Board
oI Oirectors
President
Vice President
Vice President
Vice Prssident
Member
Rnh ert Br.k
Treasurer
Secr6tary
Comptroller
Assistanl Treasurer
Assistant S€cretary
.Tnsanh Tano el II
Scott Krlstlansen
Robert Greenbers Membe Fdward Wagner
\v. \,lN WITNESS WHEREOF, I hav6 subscribed my name asEecretary and have caused the
corporate seal of said corporation to be hereunto aftixed this I 1rh
Aflix Corporat6 Seal Below:-l
day of July ,19 88
.
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v11 Clerk
VlIlage Pres ident
ITEMS XII . (G) (H)
TO:
FROM:
DATE :
SUBJECT:
l{illian R. Balling
Willian H. Brinn
June 23, 1988
Depository Banking Resolutlons
Attached, please find two ResolutioDs, r.,lch approprlate signature cardsfor consideration by the President and Board of rrustees authorizlng thechange of authorlzed signators for both the police pension and FirePenslon Fund corporate savlngs accounts at the continental Bank of BuffaloGrove, N.A., and Bank of Buffalo Grove, respectively, The purpose of thechanges is to provide for the appointment of Joseph Tenerelii as VillageTreasurer, replacing Brian Rubin who has resigned. The vtllage Treasuler isa statutory member and/or custodian of pension fund assets and must be aslgnator for certaln fund transactions.
As noted in the Resolutions, reference is made to authorized fund investment
Programs. While the Villagets Deposit and Investment Policy has been distributedon several occasions, a letter of direction to the continenial Bank for thePolice Pension Fund regarding the approved investment accounts and notingprocedures that should be followed in the wire transfer of funds fron thesavings account is included with that Fundrs Resolution. This specific letterof dlrection has been deveroped to protect the interests of the Fund frou anypossible mls-managernent of fund assets beyond the approved intention of theFund Board.
t)*u*- k
William H. Brim
/ rt
\rrL,r-AGg-otr =tlrHa.r-o eFLo\ut
&ftg, fra,rr//" gh'd..g u//a/o, I nnnu, 99 oo o a s
William H. Brimm
Di!eclor ol Finance
312.459-2510
Fax 312.459-7906
TO:
FROM:
DATE :
SUBJECT:
Effective this date, the corporate deposltory savings account for the Village
of Buffalo Grove Police Penslon Fund w111 be revlsed due to recent elections
for nenberhip. As noted in the Resolution for the savlngs account, only one
slgnature of a menber of the Pension Fundrs Board is requlred to wire transfer
funds only to approved pension investment programs. Following is a list of
approved prograns as of July 11, 1988:
NAME ACCOUNT
Dreyfus Money lilarket Investments, Inc.
Government Serles
Rodman & Rensharr, Inc.
E.F. Hutton & Co.-Hutton Government Fund
008-20012575-5
c-AD-120-87004
139-08128
A11 wire transfers to the above accounts should be confirmed to speed rnemowlthin twenty-four (24) hours after transfer, Any failure to confirm a wiretransfer or any attenpt to wire to any other account other than those abovenust be brought to my attention imediately.
Sincerely,
VILLAGE OF BUFFALO GROVE
*)lut,u.,*
WlIliam 11. Brlmm
Finance Direc torlrt
Continental Bank of Buffalo Grove, N.A.
Willian H. Brim
July ll, 1988
Village of Buffalo Grove
Police Penslon Fund Investment Programs
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