HomeMy WebLinkAboutResolution - 99-8 RESOLUTION NO. 99- 8
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RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SAN JACINTO, CALIFORNIA AUTHORIZING
AN ORIGINATION AGREEMENT FOR AUTOMATED CLEARING
HOUSE SERVICES WITH
THE BANK OF HEMET
WHEREAS, the Ciry Council has reviewed copies of the proposed Origination Agreement for
Automated Clearing House Origination Services (the "Agreement"), to be entered into by and
between the City and the Bank of Hemet ( "Bank"): and
WHEREAS, the Council has determined that its participation in the Bank's Automated Clearing
House Origination Services ("ACII Origination Services") will be on the terms and conditions
set forth in the Agreement;
NOW, THEREFORE, IT IS HEREBY RESOLVED:
I. It is in the best interest of the City to participate in the ACH Origination Services, such
participation to be on the terms and conditions set forth in the Agreement; and
2. The Council authorizes and directs an authorized officer of the City, for and on behalf of the
City to negotiate, cxecutc and deliver the Agreement and any renewals or amendments thereof,
with such terms, covenants, and conditions as such officer or officers executing Elie Agreement
on behalf of the City may approve, such approval to be conclusively evidenced by the execution
and delivery of the Agreement; and
3. The Council has considered the security procedures contemplated by the Agreement, and
finds that such security procedures are commercially reasonable procedures for verifying that a
Request or other communication purporting to have been issued by the City as originator is in
fact a Request of the City. In reaching this determination, the Council has considered the size,
type and frequency of ACH Origination Services that the City anticipates issuing to the Bank;
and
4. The Council is aware that the Bank may have available alternative security procedures that
may providc a greater degree of certainty for verification of the authenticity of Entries, and
authorizes and directs an authorized officer of the City to disclose to the Bank the size, type and
frequency of Entries that the City anticipates issuing to the Bank, to review altemative security
procedures available from tite Bank, and to consent to and agree to the use of the security
procedures set forth in the Agreement as submitted to the Council only after determining that
such procedures are appropriate for the City, such determination to be conclusively evidenced by
the execution and delivery of the Agreement; and
5. The Council authorizes an authorized officer in connection with the Agreement (a) to initiate..
cancel. conform or verify the authenticity of instructions to the Bank for ACH Origination
Services, whether given orally, electronically, «ritten or by facsimile instructions; and (b) to w
designate one or more persons, authorized to perform any of the foregoing and to revoke any
authorization granted to any such persons, as he or she deems appropriate; and
b. The Council authorizes an authorized officer in connection with the Agreement to delegate
any of the authorities granted to hirn or her under this resolution to one or more persons and to
revoke any authorization granted to any such person, as he or she deems appropriate-, and
7. The Bank is authorized to act and rely on this resolution until it actually receives written
notice of its amendment or revocation; and
S. As used in this Resolution, the term, "authorized officer of the City" shall mean the following
acting separately:
Title Name Signature Initial
a. Interim Finance Director George H. Kaenel
Ii. Accountant Kay Bouza
C. City Manager L. Michael Hanavan�^� ✓�`—^ �i��
d. Mayor Dcbbie Cornett
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e. Vice Mayor M. Joan Good
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APPROVED AND ADOPTED this 21 st day of January, 1999.
Ayes: Councilmerbers Conner, Good , Smedley, Williams and ! ayor Cornett
Noes: None
Abstain: None
Absent: None
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Mayor
ATTLST:
Pamela L. Lee, City Clerk
City Clerk