A RESOLUTION AUTHORIZING CERTAIN CITY OFFICIALS/EMPLOYEES TO EXECUTE CHECKS AND DRAFTS ON SPECIFIED ACCOUNTS OF THE CITY OF ELKINS
WHEREAS, there are numerous accounts holding funds of the City of Elkins, Arkansas,
WHEREAS, these accounts are with Arvest Bank, Elkins branch, and are utilized to hold funds and pay obligations in respect to the business of the City.
WHEREAS, financial institutions which maintain these accounts require clear direction as to authorized signatures for transactions on these accounts; and,
WHEREAS, Arkansas law and State or Federal regulations prescribe which officials may be authorized to transact business on some of these accounts.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELKINS, ARKANSAS, that:
SECTION I: Any two of the following four (4) officials/employees of the City of Elkins provided there is one official/employee from Group A and one official/employee from Group B, may and hereby are authorized to execute checks and drafts in the name of the City of Elkins on the accounts listed on Exhibit X attached hereto, to-wit:
Group A Mayor - L. Bruce Ledford Office Manager-Gayla Sta!unan
Group B Recorder-Treasurer-Delia Foster City Council Chairman-Lloyd Stith
SECTION 2: These authorizations are effective with the passage of this Resolution and shall continue in full force and effect until a new Resolution is passed by the City Council of Elkins, Arkansas; only the copy of this Resolution to be provided to Arvest Bank reflects the account numbers for each of the accounts listed on Exhibit X. All persons listed above are so authorized as a result of their representative capacity with the City of Elkins, Arkansas, and their authority shall cease and terminate in the event that their Representative capacity (as indicated) shall end, lapse or terminate for any reason. This Resolution revokes and replaces any prior resol utions. The disqualification of one or more of such Representatives shall not affect the authority hereby otherwise granted.
PASSED ANS APPROVED this 20th day of December, 2012