HomeMy Public PortalAboutResolution - 05-31- 20051109 - Issue Credit Cards RESOLUTION NO. 05-31
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
positions 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(currently vacant), Real Property Manager, Skyline Area Superintendent,
Foothills Area Superintendent, Support Services Supervisor, General Counsel,Construction,
Maintenance & Resource Supervisors (4) and Network Specialist 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 forty-three thousand dollars($43,000.00), which represents
two thousand dollars($2,000.00)per authorized position other than the General Manager and
Assistant General Manager,twelve thousand dollars($12,000.00) for the General Manager and
five thousand dollars($5,000.00) for the Assistant 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. 05-16.
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RESOLUTION NO. 05-31
PASSED AND ADOPTED by the Board of Directors of the Midpeninsula Regional Open Space
District on November 9, 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:
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Se etary Pre ident
Board of Directors Board Directors
I, the Deputy 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.
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