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HomeMy Public PortalAbout1976_07_14_R106 Designating Peoples National Bank as Depository for the TownTOWN OF LEESBURG IN LOUDOUN COUNTY, VIRGINIA PRESENTED July 14, 1976 RESOLUTION NO. 76-106 ADOPTED July 14, ,976 A RESOLUTION: DESIGNATING PEOPLES NATIONAL BANK, FIRST & MERCHANTS NATIONAL BANK, VIRGINIA NATIONAL BANK AND FIRST VIR- GINIA BANK AS DEPOSITORIES OF THE TOWN OF LEESBURG. I, the undersigned, hereby certify to Peoples National Bank, First & Merchants National Bank, Virginia National Bank and First Virginia Bank that I am Clerk of the Council of the Town of Lees- burg, in Virginia, a municipal corporation chartered by an Act of the General Assembly of Virginia; that the following is a true copy of resolutions duly adopted in accordance with law by the Council of said Town at a meeting held in Council Chambers the 14th day of July , 1976, and that such resolutions have not been rescinded or amended: BE IT RESOLVED by the Town Council of the Town of Leesburg, Virginia, as follows: SECTION I. That Peoples National Bank, First & Merchants National Bank, Virginia National Bank and First Virginia Bank are hereby designated as depositories of the Town of Leesburg, in Vir- ginia, and that checking accounts shall be maintained in said Banks in the name "Town of Leesburg, Virginia." SECTION II. That checks, drafts, bills of exchange, acceptances or other orders for the payment of money from said accounts shall be signed, on behalf of this Town and in its name, by any two of the Town following officers; namely, the Town Manager, Assistant to the/Manager, Director of Finance and Clerk of the Council. SECTION III. That the Director of Finance is hereby authorized, on behalf of this Town and in its name, to endorse checks, bills, certificates of deposit or other instruments owned or held by this Town, for deposit in said accounts or for collection by said Banks; -2- however, the endorsement of such instruments may be made by rubber stamp endorsement containing the name of this Town without signature, or by the endorsement of any person by such writing as to designate that the instrument is intended to be credited to the said accounts; to accept drafts, acceptances and other instruments payable at said Banks; to waive demand, protest, and notice of protest, or dishonor of any check, note, bill of exchange, draft or other instruments made, drawn or endorsed on behalf of this Town. However, strict compliance as to the words "Town Manager," "Assistant to the Town Manager," "Director of Finance" and "Clerk of the Council" appear- ing after the names of said officers on any of said instruments for the payment of money from said checking accounts shall not be re- quired. SECTION IV. That Peoples National Bank, First & Merchants National Bank, Virginia National Bank and First Virginia Bank are hereby authorized to honor, receive, certify or pay all instruments signed in accordance with these resolutions, even though drawn or endorsed to the order of any officer signing the same or tendered for cashing or in payment of the individual obligation of any such officer, or for deposit to his personal account, and said Banks shall not be required, or be under any obligation to inquire as to the circumstances of the issuance, or use of any instrument signed in accordance with these resolutions, or the application, or disposi- tion of such instrument, or the proceeds thereof. SECTION V. That the Clerk of the Council shall certify to said Banks, the names and signatures of the presently duly qualified and acting Town Manager, Assistant to the Town Manager, Director of Fi- nance and Clerk of the Council of this Town, and the Clerk of the Council -3- shall, from time to time hereafter as changes in the personnel of said officers are made, certify such changes to the Banks, and the Banks shall be fully protected in relying on such certifications of the Clerk of the Council, and shall be indemnified and saved harmless from any claims, demands, expenses, loss, or damage result- ing from, or growing out of, honoring the signature of any officer so certified, or in refusing to honor any signature not so certified, or in refusing to honor any signature which may be replaced through changes made by any such certification. SECTION VI. That all resolutions adopted by the Council of this Town prior to July 14 , 1976, for the designation of said Banks as depositories for the accounts maintained in said Banks in the name "Town of Leesburg, Virginia," authorizing the signing of instruments for the withdrawal of money from the accounts of this Town in said Banks, and for the endorsement of instruments for deposit to the ac- counts of this Town in said Banks, be, and the same are hereby re- voked and rescinded. SECTION VII. That the foregoing resolutions shall remain in full force and effect until written notice of their amendment or rescission shall have been received and acknowledged by said Banks, and that receipt of any such notice shall not affect any action taken by said Banks prior thereto. SECTION VIII. That the Clerk of the Council is hereby author- ized and directed to certify to Peoples National Bank, First & Mer- chants National Bank, Virginia National Bank and First Virginia Bank the foregoing resolutions, and th~ the provisions thereof are in conformity with the Charter and Ordinances of this Town, and the laws of the State of Virginia. -4- I, the undersigned, further certify that the Council of the Town of Leesburg, in Virginia, is authorized and empowered to adopt the foregoing resolutions by virtue of its Charter and Ordi- nances, and pursuant to the laws of the State of Virginia. I further certify that the names and official signatures of the presently duly qualified and acting Town Manager,~Assistant to the Town Manager, Director of Finance and Clerk of the Council of said Town are as follows: Office: Town MAnager Assistant to the Town Manager Director of Finance Name: John Niccolls Jeffrey H. Minor Mervyn C. Timberlake, Jr. Off icial ~ S i~natur e: Council Dorothy B. Rosen . In witness whereof, I have hereunto subscribed name and affixed the seal of the Town of Leesburg, in Virginia, by direction of the Council, this 14thday of July , 1976. PASSED this 14th day of July Clerk of t~e Council Town of LFsburg, in Virginia , 1976. ATTEST: Mary A~ne Newman, Mayor Town of Leesburg