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HomeMy Public PortalAboutResolution - 80-10- 19800123 - Palo Alto Union Bank BorRESOLUTION 80-10 Certified Copy of Borrowing Resolution UNION BANK Hid -Peninsula Regional Head Office OFFICE 400 University Avenue Palo Alto, Ca. 94301 ADDRESS In completing this resolution; you must list in this opening paragraph the names of the officers authorized to sign and you must insert the words v'' will "OR"_ after the title of each officer if there is more than one authorized signer. Unless otherwise stated herein, use of the word "AND" will indicate that two or more signatures are needed to execute documents and use of the word "OR" will indicate that only one signature of two or more successive signers will be required on documents. RESOLVED, That BARBARA GREEN fir4,4..._ RICHARD S. BISHOP Signature Name NONETTE G. HANKO PRESIDENT AND VICE PRESIDENT AND Title SECRETARY AND Signature Name DANIEL G. WENDIN Title TREASURER AND Title DIRECTOR AND i.i Et )7? l�;L A.,..! • Name KATHERINE M. DUFFY Title DIRECTOR AND ./ EDWARD G. SHELLEY DIRECTOR (hereafter sometimes referred to, whether one or more, as "said officers") of Signature / v w Name HARRY A . TURNER Signature .,i;)PL.lI,1SULi', OPE:1 S'ACF i)T ST^T T a corporation, are authorized to borrow from time to time, in the name of and in behalf of this corporation, from UNION BANK such sums of money as said officers deem expedient, from time to time to extend or renew any such loan in whole or in part, to contract with said bank upon such terms and conditions as it requires for the issuance of commercial letters of credit, circular letters for the use of travelers and any other instruments of credit, the aggregate principal indebtedness of this corporation with respect to such transaction outstanding and unpaid at any one time not to exceed the sum of *ONE HUNDRED NINETY SEVEN THOUSAND SEVEN HUNDRED FIFTY AND i10/100** dollars ($ 197,750.00 ); and said officers are hereby authorized to execute in its corporate name the note or notes of this corporation as evidence of each such loan and of any extension or renewal thereof and to execute all contracts and other instruments required by the bank in connection with any loan, each of which contracts, notes and other instruments shall contain such terms and conditions as are agreed upon by said officers and said bank, including among others not specified in this resolution provisions regulating or restricting the declaration and payment of dividends by the corporation, the payment of indebtedness to officers, shareholders, or other persons other than the bank, or other regulations or restrictions of the same or different kinds, conditions as to default, attorney's fees, waivers of notice, and sale of securities. "RESOLVED FURTHER that said officers are authorized to hypothecate or pledge with and transfer and deliver to said bank as security for the payment of any obligations so incurred such securities or other assets of this corporation as are agreed upon by them and said bank and to execute in the name of the corporation such agreements of hypothecation as they deem expedient and to include in any such agreement such waivers of demand, notice or advertisement and such other waivers and provisions as seem expedient to them, including among others a provision that any such security may be held by said bank to secure any other indebtedness, whether due or not due, owing to said bank from this corporation. "RESOLVED FURTHER that said officers may direct said bank orally or by written instruction to disburse the proceeds of any loan made in the name of the corporation to any person, partnership, corporation or other legal entity without limit including to said officers personally. "RESOLVED FURTHER that at any time said bank may apply any money or property in its hands belonging to this corporation to the payment of any indebtedness of this corporation to it, whether due or not due, and any agreement executed as aforesaid may so provide. "RESOLVED FURTHER that if two or more resolutions of this corporation authorizing any of the transactions authorized by this resolution are outstanding concurrently at any time the provisions thereof shall be deemed to be cumulative. "RESOLVED FURTHER that said officers are authorized in addition to any obligation incurred under any of the preceding provisions of this resolution to discount with said bank any notes, drafts, acceptances, bills of exchange, or other evidences of debt owned by this corporation upon such terms as are agreed upon by said bank and said officers and in the name of this corporation to endorse such evidences of indebtedness so to be discounted by said bank and to guarantee payment thereof to said bank. "RESOLVED FURTHER that upon the execution by said officers of any instrument authorized by this resolution such instrument shall be deemed to be executed by this corporation whether or not the corporate seal of this corporation is affixed thereto. "RESOLVED FURTHER that all loans heretofore made by said officers in the name of this corporation and all promissory notes and other documents executed by them in connection therewith or to secure the same are hereby ratified and approved. "RESOLVED FURTHER that said bank shall be able to rely on the incumbency of the above named officers until written notice is received at the above captioned office. "RESOLVED FURTHER that this resolution shall remain in full force and effect until written notice of its repeal has been received by said bank, at the above captioned office, such revocation however not to affect the validity of any note or other instruments theretofore executed." This is to certify that the fore oin is a true copy of a resolution duly adopted by the directors of jiDPEAINSULA kl-_,A 01AL 0PE% S"ACE. DISTRICT a corporation, , 19 8 0 and that said at a meeting of its board of directors duly and regularly held on JAnury 23 resolution is in full force and effect. This will further certify that the signatures indicated above are true specimens of each captioned officer's signature. Dated Janaury 23 , 19 80 at Los Altos (City) , California. as Secretary of i1IDPENINSULA REGIONAL OPEN SPACE DISTRICT President CUSTOMER COPY GEN-263 (R E V.5/77 ) RESOLUTION NO. 80-10 PASSED AND ADOPTED by the Board of Directors of the Midpeninsula Regional Open Space District on January 23 , 19 80 at a regular/special meeting thereof, by the following vote:. AYES: K. Duffy, D. Wendin, B. Green, E. Shelley, N. Hanko, H. Turner and R. Bishop NOES: None ABSTENTIONS: ABSENT: None ATTEST: None APPROVED: S retary, bard of Directors President, Board of Directors I, the District Clerk/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 vote.