HomeMy Public PortalAboutResolution - 05-16- 20050601 - Amend Credit Cards RESOLUTION NO. 05-16
RESOLUTION OF THE BOARD OF DIRECTORS OF THE
MIDPENINSULA REGIONAL OPEN SPACE DISTRICT
AUTHORIZING THE ISSUANCE OF DISTRICT CREDIT CARDS
AND RELATED BORROWING OF FUNDS FROM
FIRST NATIONAL BANK OF OMAHA
WHEREAS, the Midpeninsula Regional Open Space District is organized and existing
under and by virtue of the laws of the State of California, with its principal office at 330 Distel
Circle, Los Altos, California 94022-1404, and is duly authorized to transact business in the State
of California; and
WHEREAS, the District currently holds several accounts and maintains in good standing
a business relationship with the Mid-Peninsula Bank, whose affiliate is First National Bank of
Omaha("Lender"); and
WHEREAS,the Lender has agreed to issue the District credit cards for use by authorized
managers or supervisors in the employment of the District, at no cost; and
WHEREAS,the District has authorized the General Manager, Assistant General Manager,
Operations Manager, Planning Manager, Public Affairs Manager,Administration/Human
Resources Manager, Skyline Area Superintendent, Foothills Area Superintendent, Real Property
Manager, Support Services Supervisor, General Counsel and Maintenance & Resource
Supervisors to be issued District credit cards; and
WHEREAS, the issuance of these credit cards will enable the District to borrow from time
to time from the Lender on such terms as may be agreed upon between the District and the Lender,
such sum or sums of money as in their judgment should be borrowed; however, not exceeding at
any one time the principal amount of thirty-eight thousand dollars($38,000.00), which represents
two thousand dollars ($2,000,00) per authorized position other than the General Manager, and
twelve thousand dollars($12,000.00) for the General Manager, in addition to such sum or sums of
money as may be currently borrowed by the District from the Lender on terms where funds are
borrowed without use of credit cards.
NOW, THEREFORE, BE IT RESOLVED, that the Board of Directors of the Midpeninsula
Regional Open Space District authorizes and agrees to the terms of the issuance by the Lender of
credit cards to specified District employees, and hereby rescinds Resolution No. 05-12.
I
RESOLUTION No. 05-16
PASSED AND ADOPTED by the Board of Directors of the Midpeninsula Regional Open Space
District on June 1, 2005, at a Regular Meeting thereof, by the following vote:
AYES: J. Cyr, M. Davey, N. Hanko, L. Hassett, D_ Little, K. Nitz, P. Siemens
NOES: None
ABSTAIN: None
ABSENT: None
ATTEST: APPROVED:
ecretary Presid
Board of Directors Bo of Directors
I, the District Clerk of the Midpeninsula Regional Open Space District, hereby certify that
the above is a true and correct copy of a resolution duly adopted by the Board of Directors of
the Midpeninsula Regional Open Space District by the above vote at a meeting thereof duly
held and called on the above day.
Dis Jerk