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not been rescinded or amended: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;
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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
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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.
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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