R-904-2-89RESOLUTION NO. 9 0 4- 2- R 9 (g)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ALLEN, COLLIN COUNTY, TEXAS, AUTHORIZING CERTAIN
EMPLOYEES TO VERBALLY REQUEST THE TRANSMISSION OF
FUNDS FROM TEXAS AMERICAN BANK/MCKINNEY TO OTHER
BANKS.
WHEREAS, from time to time, the City of Allen verbally requests Texas
American Bank/McKinney (the "Bank") to transfer funds to other banks or to
other accounts at the Bank for credit to persons designated by the City of
Allen in amounts not to exceed the collected balance on deposit with the
Bank, in a manner which makes it inconvenient or impossible to execute prior
written authorization, instructions or releases otherwise required by the Bank
so that the Bank must have standing instructions upon which to act pursuant
to verbal requests for the transfer of funds;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF ALLEN, COLLIN COUNTY, TEXAS, THE EMPLOYEE'S
OF THE CITY OF ALLEN, LISTED BELOW ARE HEREBY
AUTHORIZED TO REQUEST THE TRANSMISSION OF FUNDS
BELONGING TO M CF-rY OF ALLEN.
on McCkLrty, City
Charlotte Smith, Finance Director
The authority conferred herein shall continue in force and effect until
written notice of revocation shall be received by the Bank.
DULY PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY
OF ALLEN, COLLIN COUNTY, TEXAS, ON THIS THE 16th DAY OF
February , 1988.
APPROVED:
Pub Farmer, MAYOR
ATTEST:
3
Marty Hendrix, C, CITY SECRETARY
Gentlemen:
CITY OF ALLEN ("Customer") authorizes Texas
American Bank/McKinney ("Bank") to receive, execute, and charge our account(s)
for all telephonic, telegraphic, computer communication device, oral or
written funds transfer requests, when such requests are received frau an
authorized Customer representative listed in Schedule A. Accordingly,
Customer and Bank agree as follows:
(1) In accordance with this Agreement, Bank may:
(a) Transfer funds from specified Customer aocount (s) with Bank
to any other specified Customer bank account(s) whether such
account(s) are with Bank or other bank (s) ; and
(b) Transfer funds from Customer account (s) with Bank to any
account(s) of a third party, whether such third Party account (s)
are with Bank or other bank(s).
(2) Bank shall assign a password identifying Customer for wire transfer
purposes. Bank will notify Customer in writing of such password
following Bank's receipt of a fully signed copy of this Agreement
and all Schedules attached hereto. After being notified of the
password, Customer's authorized representative will be required to
advise Bank of Customer's password at the time of each wire transfer
request. Bank will not be obligated to honor any wire transfer
request unless, at the time of a request, Customer's authorized
representative properly identifies himself and states Customer's
password.
(3) In the event that any telePhOm transfer request becomes repetitive
(oecuring at least monthly with the instructions remaining constant
except for the date and transfer amount), the Bank may assign a unique
Code Number to the repetitive transfer. These instructions must be
specified in writing by Customer in Schedule B, Authorization for
Repetitive (Line Sheet) Funds Transfers. Upon receipt of Schedule B,
Bank will return the signed Schedule B with the Code Number to
Customer. FSrcam that point on, Cust0mer must use both Password and
Code Number in requesting Bank to make these repetitive transfers.
(4) If Customer is a corporation, Customer shall execute the Resolution
Authorizing Wire Transfer of Funds attached hereto as Schedule C
and return such Resolution with a signed copy of this Agreement.
(5) Bank may, at Bank's sole discretion, and without liability for
failing to do so, call one of Customer's authorized representatives
(other than the representative who originated the request) to
authenticate a request prior to initiating a transfer. If Bank
is unable to authenticate such request, Bank may, at Bank's option,
refuse to make the requested transfer.
(6) Bank may rely upon the authority of the authorized representatives
listed in Schedule A until Bank's Wire Transfer Department has
received written notice from Customer specifying a change therein.
(7) Bank is authorized to electronically record telephone conversations
between Bank and Customer's authorized representatives. The
decision to record a call is solely within Bank's discretion and
Bank shall have no liability for failing to do so.
(8) Bank will mail daily to Customer at the address(es) listed on
Schedule A notification(s) of all transfer(s) made. Customer will
promptly r'e'port in writing to Bank any discrepancies between
Customer's records and the notification mailed by Bank. In no
event will Bank be liable with respect to any transfer unless
Bank receives Customer's report of a discrepancy within fourteen
(14) days after the day that Bank mails to Custc aer the notification.
(9) Transfer requests will at no time exceed the collected balance in
the Customer's acoount (s) at the Bank, as determined by the Bank.
(Customer shall be liable for any funds transferred upon proper
instructions by Custarer whether or not such amount exceeds collected
balance at the Bank).
(10) Compensation, if any, for loss of interest or use of funds due the
customer as a result of a Bank error or of the Bank's failure to
execute a transfer request on the date received when received prior
to the Bank's published deadlines will be for a period not exceeding
fourteen (14) days, (the Custamer Notification of Discrepancies
period) or the date of actual transfer or error correction, which-
ever aures first, and will be in the form of either of the following
at the Bank's option.
(a) Adjust the aggregate ledger and collected balances of the
Customer's accent to reflect properly in the average balances
on the account analysis the amount that would have resulted
had no error occurred.
(b) Reimbursement by check not exceeding the average Find Finds
interest rate for the period and aacxnt in question.
(11) All requests by Costner for transfers shall conform to the procedures
as Bank may from time to time prescribe. Bank may change these pro-
cedires upon notice to Customer. Customer further agrees that it will
prevent the disclosure within and outside of its organization, except
on a "need to know" basis, of any of Bank's procedures relating to
transfers of funds. If the confidentiality of the procedures is am -
promised, Customer will notify Bank immediately.
(12) Bank's duties and responsibilities are limited to those described in
this Agreement. Bank will use due care in performing under this
Agreement and will be responsible for any lass sustained by Customer
only to the extent such loss is caused by Bank's negligence; however,
in such case, liability will extend only to the resulting direct loss,
and not to any consequential or special loss or damages. Bank will
not be responsible for liability, loss or damage resulting from:
Customer's failure to follow this Agreement or other procedures for
wire transfers of which Bank has notified Customer, any delay in the
performance by Bank of, or failure to perform, the provisions of this
Agreement which is caused by an act of God, fire or other catastrophe,
electrical or computer failure; acts of, delays or failure to act by,
any carrier and/or agent operating between Bank and Customer, or by
recipients of transferred funds and their personnel; or, without
limiting the generality of the foregoing, any other cause beyond
Bank's control.
(13) Customer will indemnify and hold Bank harmless from any claims,
demands, expenses (including reasonable attorney's fees), losses or
damages arising out of Bank's acting upon a transfer request by
persons purporting to be authorized Customer representatives and
which transfers are made by bank in accordance with the Agreement
or from Bank's refusal to act upon requests not made in accordance
with this Agreement or which cannot be authenticated by Bank if
Bank elects to attempt an authentication.
(14) This Agreement will be governed by the laws of the State of Texas.
All obligations hereunder are performable in Collin County, Texas.
This Agreement will terminate upon Bank's written notice to Customer,
or upon receipt by Bank's Wire Transfer Department of Customer's
written notice of termination. The indemnification and limitation
of liability provisions of the Agreement will survive any such
termination.
(15) Bank's Operating Procedures are specified in Schedule D attached
hereto and made a part hereof. Bank may revise such Operating
Procedures or this Agreement by notice to Customer.
Please evidence acceptance of this Agreement by signing and dating this Agree-
ment and the attached Schedules A through D where appropriate.
Accepted this � day of
19 -Li.
AOCEPTID:
TEXAS AEI BAW/Lkait-162-
MCKINE
By:Ri
n
Title:
Date Sided:
LIP., -100715W
Jon McCarty
City Manager (214) 727-9171
Finance Director (214) 727-9171
Please insert addresses) to which daily Advices of Wire Transfer should be sent
for ac=mt(s) held at Texas American Bank/McKinney.
571-00-1088-4 City of Allen GO Bonds One Butler Circle, Alien, Texas 75002
571-00-1089-2 City of Allen Water & One Butler Circle, Allen, Texas 75002
Sewer Revenue Bonds
571-01-4003-8 City of Allen Revenue One Butler Circle, Allen, Texas 75002
Sharing
571-01-4001-2 City of Allen Operating One Butler Circle, Allen, Texas 75002
571-01-4002-0 City cf Allen Payroll One Butler Circle; Allen, Texas 75002
Password 9181 (to be assigned by Texas American Bank/
McKinney upon receipt of Schedule A)
Submitted by:Accepted:
Citv of Alien
By: Charlotte Smith
Title: Finance Director
Date:
Texas Amen Bank/McRiru�iey
By: �. ��c-
44
Title:
Date: ' �`/
RESOLUTION NO.g04-2-89 (F)_
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
ALLEN, COLLIN COUNTY, TEXAS, AUTHORIZING CERTAIN
EMPLOYEES TO VERBALLY REQUEST THE TRANSMISSION OF
FUNDS FROM TEXAS AMERICAN BANK/MCKINNEY TO OTHER
BANKS.
WHEREAS, from time to time, the City of Allen verbally requests Texas
American Bank/McKinney (the "Bank") to transfer funds to other banks or to
other accounts at the Bank for credit to persons designated by the City of
Allen in amounts not to exceed the collected balance on deposit with the
Bank, in a manner which makes it inconvenient or impossible to execute prior
written authorization, instructions or releases otherwise required by the Bank
so that the Bank must have standing instructions upon which to act pursuant
to verbal requests for the transfer of funds;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF ALLEN, COLLIN COUNTY, TEXAS, THE EMPLOYEE'S
OF THE CITY OF ALLEN, LISTED BELOW ARE HEREBY
AUTHORIZED TO REQUEST THE TRANSMISSION OF FUNDS
BELONGING TO C Y OF ALLEN.
\ n�
y, City �Mana
Charlotte Smith, Finance Director
The authority conferred herein shall continue in force and effect until
written notice of revocation shall be received by the Bank.
DULY PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY
OF ALLEN, COLLIN COUNTY, TEXAS, ON THIS THE 16th DAY OF
-February_, 1988.
APPROVED:
• Farmer, MAYOR
ATTEST: '
r
A
{ 4
Marty Hendrix, CVC, CITY SECRET Y
(. .
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