Resolution 94-15
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RESOLUTION 94- /6
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WYLIE, TEXAS
DESIGNATING THE AMERICAN NATIONAL BANK AS A CORPORATE
DEPOSITORY FOR THE CITY OF WYLIE; AND SPECIFYING PROCEDURES AND
PROVIDING AUTHORITY FOR MAKING OF DEPOSITS, WITHDRAWALS, AND
LOANS WITH SAID BANK
WHEREAS, the City Council did by unanimous vote at it regular meeting of June 14,
1994, authorize and approve the American National Bank (Bank) as a depository for the City;
and,
WHEREAS, such approval was in the form of accepting the proposal for banking services
submitted by Bank;
WHEREAS, such acceptance constitutes a legally binding agreement between the City and
the Bank, the Bank require further formal designation of its being the an official depository of
the City, as established by Resolution of the City;
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
WYLIE, TEXAS, as follow:
RESOLVED, That an account shall be established in the name of this Corporation with The
American National Bank, under the rules and regulations as prescribed by said Bank, wherein
may be deposited any of the funds of this Corporation, whether represented by cash, checks,
notes or other evidences of debt, and from which deposit withdrawals, are hereby authorized in
the name of the Corporation by any two (2) of the following persons:
Steven P. Norwood, City Manager, or his temporary or permanent successors;
Brady E. Snellgrove, Finance Director or his temporary or permanent successors;
Endorsements for deposit may be evidenced merely by the name of the Corporation being written
or stamped on the instrument deposited, without designation of the party making the
endorsement.
BE IT FURTHER RESOLVED, that no officers or officials, individually or in any
combination, shall have the power to borrow funds from said American National Bank on behalf
of the Corporation; unless and except the City Council shall pass a Resolution authorizing such
loan and stating the amount and repayment terms therefore, and a certified copy of such
Resolution is presented to the said American National Bank.
BE IT FURTHER RESOLVED, That the said American National Bank is hereby authorized
to honor any and all withdrawal items against the Corporation's funds although payable to the
officer or agent signing or countersigning the name and whether presented for encashment or for
credit to the personal account of such officer or agent or any other person and said Bank need
make no inquiry concerning such items and/or the disposition of the money, items or credit given
therefore.
DUL Y PASSED AND APPROVED by the City Council of the City of Wylie, Texas this
28th day of June, 1994.
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) t#1'Jd j) j~
)/unes D. Swartz - Mayor .
Attest:. {g~
Mary NiCW~Secetary