HomeMy WebLinkAboutRES 09-328 RESOLUTION NO. 09-328
BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF BEAUMONT:
THAT Kandy Daniel, previously a designated investment officer for the City of Beaumont,
is hereby relieved and removed of said designation.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the 27th day of
October, 2009.
s�-7�,P��1rr��y
�� 44 - or Becky Ames -
Z.
i
Date
Opened: 10/8/2009 Term: 300 Days D: 74-6000278 Number: 4016000323
CERTIFICATE OF DEPOSIT COPY
AND Account Number: 4016000323
CERTIFICATE OF DEPOSIT SIGNATURE CARD
Amount of
Deposit: Two Hundred Forty-Five Thousand Dollars And No Cents $ 245,000.00
This Time Deposit is Issued to: Issuer:
TEXAS CAPITAL BANK, N. A.
__ AUSTIN BANKING CENTER
i CITY OF BEAUMONT 114 W 7th STREET SUITE 100
801 MAIN STREET STE 320 AUSTIN, TX 78701
BEAUMONT TX 77701
Not Negotiable-Not Transferable -Additional terms are below. By
Additional Terms and Disclosures
This form contains the terms for your time deposit. It is also the Minimum Balance Requirement: You must make a minimum deposit to
Truth-in-Savings disclosure for those depositors entitled to one. There
are additional terms and disclosures on pa a two of this form, some of open this account of$ 100,000.00
thhichorenxplain or expand on those below. You should keep one copy of X You must maintain this minimum balance on a daily basis to earn the
Maturity Date: This account matures 8/4/2010 annual percentage yield disclosed.
(See below for renewal information.) Withdrawals of Interest: Interest X accrued 5UC credited during a
Rate Information: The interest rate for this account is— 1.60 % term can be withdrawn: at any time without incurring an early
with an annual percentage yield of 1.61 %. This rate will be _withdrawal penalty
paid until the maturity date specified above. Interest begins to accrue on Early Withdrawal Penalty: If we consent to a request for a withdrawal
the business day you deposit any noncash item(for example,a check). that is otherwise not permitted you may have to pay a penalty. The
Interest will be compounded daily penalty will be an amount equal to: as described in the Terms and
Interest will be credited at maturity Disclosures booklet. Penalty amount is based on term
and amount withdrawn interest on the amount withdrawn.
® The annual percentage yield assumes that interest remains on deposit Renewal Policy:
until maturity.A withdrawal of interest will reduce earnings. ❑ Single Maturity: If checked, this account will not automatically
❑ If you close your account before interest is credited, you will not renew. Interest ❑ will El will not accrue after maturity.
receive the accrued interest. X Automatic Renewal: If checked, this account will automatically
The NUMBER OF ENDORSEMENTS needed for withdrawal or any renew on the maturity date.(see page two for terms)
other purpose is: Interest X will ❑ will not accrue after final maturity.
ACCOUNT OWNERSHIP: (Select one and place your initials next to account
selected) UNIFORM SINGLE-PARTY OR MULTIPLE-PARTY ACCOUNT TIN• 74-6000278
SELECTION FORM NOTICE: THE TYPE OF ACCOUNT YOU SELECT MAY
DETERMINE HOW PROPERTY PASSES ON YOUR DEATH. YOUR WILL Social Security or Employer's I.D. Ntunher: Under
MAY NOT CONTROL THE DISPOSITION OF FUNDS HELD IN SOME OF THE penalties of perjury I certify that the above number is my
FOLLOWING ACCOUNTS. corre t.' xpayer Id i ationNumber.
❑ SINGLE-PARTY ACCOUNT WITHOUT"P.O.D."(Payable on Death)DESIGNATION X DATE
❑ SINGLE-PARTY ACCOUNT WITH"P.0.D."(Payable on Death)DESIGNATION Back p Withholding -Under penalties of perjury I certify
❑ MULTIPLE-PARTY ACCOUNT WITHOUT RIGHT OF SURVIVORSHIP that I am a U.S, person(including a U.S. resident alien) and
that I am not subject to backup withholding, either because I
❑ MULTIPLE-PARTY ACCOUNT WITH RIGHT OF SURVIVORSHIP have not been notified that I am subject to backup
❑ MULTIPLE-PARTY ACCOUNT WITH RIGHT OF SURVIVORSHIP withholding as a result of a failure to report all interest or
di0I,iddor the Internal R venue Service has notified me
AND"P.O.D."(Payable on Death)DESIGNATION thlonger sackup ithholding.
❑ TRUST ACCOUNT(name beneficiaries below) X TRUST ACCOUNT SUBJECT TO SEPARATE AGREEMENT D ng
DATED:
❑ OTHER: SIGNA IIR :I AGREE TO RMS STATED ON PAGE ONE AND PAGE TWO
NAME OR NAMES OF P.O.D.BENEFICIARIES: X
X
er " G 1993 Bankers Systems,Inc.,St,Cloud,MN Form CD-AA-LAZ-TX(2) 10/11/2001 READ PAGE TWO FOR ADDITIONAL TERMS (page 1 of 2)
DEFINITIONS: "We," "our," and "us" mean the issuer of this account On the death of the last survivin g a the ownership the account
and "you" and "your" mean the depositor(s). "Account" means the passes to the P.O.D. beneficiaries. Trust Account -The parties named as
original certificate of deposit as well as the deposit it evidences. "Party" trustees to the account own the account in proportion to the parties' net
means a person who, by the terms of the account, has a present right, contributions to the account. A trustee may withdraw funds from the
subject to request,to payment from a multiple-party account. account. A beneficiary may not withdraw funds from the account before
TRANSFER: "Transfer" means an change in ownership, all trustees are deceased. On the death of the last surviving trustee, the
y P. ownership of the account passes to the beneficiary. The trust account is
rights, or survivorship rights, including (but not limited to) any pledge or not a part of a trustee's estate and does not pass under the trustee's will or
assignment of this account as collateral. You cannot transfer this account by intestacy, unless the trustee survives all of the beneficiaries and all
without our written consent. other trustees.
PRIMARY AGREEMENT: You agree to keep your funds with us in this SET-OFF -We may (without prior notice and when permitted by law) set
account until the maturity date. (An automatically renewable account off the funds in this account against any due and payable debt you owe us
matures at regular intervals.) You may not transfer this account without now or in the future, by any of you having the right of withdrawal, to the
first obtaining our written consent. You must present this certificate when extent of such persons' or legal entity's right to withdraw. If the debt
you request a withdrawal or a transfer. arises from a note, "any due and payable debt" includes the total amount
Ibis account is void if the deposit is made by any method requiring of which we are entitled to demand payment under the terms of the note at
collection (such as a check)and the deposit is not immediately collected in the time we set off, including any balance the due date for which we
full. If the deposit is made or payable in a foreign currency, the amount of properly accelerate under the note.
the deposit will be adjusted to reflect final exchange into U.S.dollars. This right of setoff does not apply to this account if: (a)it is an IRA or
We may change any term of this agreement. Rules governing changes other tax-deferred retirement account, or (b) the debt is created by a
in interest rates have been provided. For other changes we will give you consumer credit transaction under a credit card plan (but this does not
reasonable notice in writing or by any other method permitted by law. affect our rights under any consensual security interest), (c) the debtor's
If any notice is necessary, you all agree that the notice will be right of withdrawal only arises in a representative capacity, or(d) the debt
sufficient if we mail it to the address listed on page one of this form. You is created by a home equity loan. You agree to hold us harmless from any
must notify us of any change. claim arising as a result of our exercise of our right of setoff.
permanent ITHD AWAS AND TRAN SFEERS: Onthose o yoh s � BALANCE COMPUTATION METHOD: We use the daily balance g d y funds u account. (
method to calculate the interest on this account. This method a
pplies a
appropriate cases, a court appointed representative, a beneficiary of a
trust or pay-on-death account whose right of withdrawal has matured, or a daily periodic rate to the principal in the account each day.
withdraw from this nacco nt) The specific number of legal u who must a ree TRANSACTION LIMITATIONS: You cannot make additional deposits
to any withdrawal is written on page one in the section bearing the title to this account during a term (other than credited interest). You cannot
. Number of Endorsements . . . This means, for example, that if two Withdraw principal from this account without our consent except on or
of you sign the signature card but only one endorsement is necessary for after maturity. (For accounts that automatically renew, there is a grace
withdrawal then either of you may request withdrawal of the entire Period after each renewal date during which withdrawals are permitted
account at any time. without penalty.)
These same rules apply to define the names and the number of you In certain circumstances such as the death or incompetence of an
who can request our consent to a transfer. owner of this account, law permits, or in some cases requires, the waiver
of the early withdrawal penalty.
PLEDGES: Any pledge of this account (to which we have agreed), must FOR ACCOUNTS THAT AUTOMATICALLY RENEW: Each
first be satisfied before the rights of any joint account survivor,
pay-on-death beneficiary or trust account beneficiary become effective. renewal term will be the same as the original term beginning on
For example, if one joint tenant pledges the account for payment of a debt the maturity date(unless we notify you, in writing, before a maturity date,
and then dies, the surviving joint tenant's rights in this account are subject o
first to the payment of the debt. f a different term for renewal).
You must notify us in writing before, or within a ten 10 day grace
ACCOUNT OWNERSHIP: You intend these rules to apply to the period after, the maturity date if you do not want this account to
account depending on the form of ownership and beneficiary designation, automatically renew.
if any, specified on page 1. We make no representations as to the
appropriateness or effect of the ownership and beneficiary designations, Interest earned during one term that is not withdrawn during or
except as they determine to whom we pay the account funds. Further, the immediately after that term is added to principal for the renewal term.
type of account you select may determine how property passes on your The rate for each renewal term will be determined by us on or just
death. Your will may not control the disposition of funds held in some of before the renewal date. You may call us on or shortly before the maturity
the following accounts. Single-Party Account Without P.O.D. date and we can tell you what the interest rate will be for the next renewal
Designation -The party to the account owns the account. On the death of term. On accounts with terms of longer than one month we will remind
the party, ownership of the account passes as a part of the party's estate you in advance of the renewal and tell you when the rate will be known
under the party's will or by intestacy. Single-Party Account With for the renewal period.
P.O.D. Designation -The party to the account owns the account. On the
death of the party, ownership of the account passes to the P.O.D. See your plan disclosure if this account is part of an IRA or Keogh.
beneficiaries of the account. The account is not a part of the party's
estate. Multiple-Party Account Without Right of Survivorship - The
parties to the account own the account in proportion to the parties' net
contributions to the account. We may pay any sum in the account to a
parry at any time. On the death of a party, the party's ownership of the
account passes as a part of the party's estate under the party's will or by
intestacy. Multiple-Party Account With Right of Survivorship - The
parties to the account own the account in proportion to the parties' net
contributions to the account. We may pay any sum in the account to a
party at any time. On the death of a party, the party's ownership of the
account passes to the surviving parties. Multiple-Party Account With
Right of Survivorship and P.O.D. Designation - The parties to the
account own the account in proportion to the parties' net contributions to
the account. We may pay any sum in the account to a party at any time.
(page 2 of 2)
Per m 0 1993 Bankers Systems,Inc„St.Cloud,MN Form CD-AA-LAZ-TX 10/11/2001
i
RESOLUTION OF LODGE,ASSOCIATION OR OTHER SIMILAR ORGANIZATION
TEXAS CAPITAL BANK,N.A. By: CITY OF BEAUMONT
AUSTIN BANKING CENTER 801 MAIN STREET STE 320
114 W 7th STREET SUITE 100 BEAUMONT TX 77701
AUSTIN,TX 78701
Referred to in this document as"Financial Institution" Referred to in this document as"Association"
I• k'A K VIX65 aA, certify that I am Secretary(clerk)of the above named association organized under the laws of TEXAS
Federal Employer I.D.Number ,and that the resolutions on this document are a correct copy of the resolutions adopted at a meeting of the
Association duly and properly called and held on (date). These resolutions appear in the minutes of this meeting and have not been rescinded or
modified.
AGENTS. Any Agent listed below,subject to any written limitations,noted herein,if any,Is authorized to exercise the powers granted as indicated below:
Name and Title or Position Signat Facsimile Signature(if used)
A. LAURA CLARK-CFO X X
B. KYLE HAYES-CITY MANAGER X X
C. TODD SIMONEAUX CONTROLLER X X
D. X X
E. X X
F. X X
POWERS GRANTED. (Designate one or more Agents for each power by placing the letter corresponding to their name in the area before each power.
IF THIS"POWERS GRANTED"SECTION IS NOT FULLY COMPLETED, FINANCIAL INSTITUTION WILL ASSUME, UNTIL NOTIFIED OTHERWISE BY THE ASSOCIATION
IN WRITING, THAT THE ASSOCIATION'S MEMBERS GRANTED ALL OF THE FOLLOWING POWERS TO EACH OF THE AGENTS NOTED ABOVE.)
Indicate A, 6,C, DESCRIPTION OF POWER
D,E,and/or F
A-C 1. Exercise all of the powers listed in this resolution.
2. Open any deposit or share account(s)In the name of the Association.
3. Endorse checks and orders for payment of money or otherwise withdraw or transfer funds on deposit with this Financial Institution,
4. Borrow money on behalf and in the name of the Association,sign,execute and deliver promissory notes or other evidences of indebtedness.
5. Grant a security interest,lien or other encumbrance to Financial Institution in any or all real or personal property that Association now owns or may acquire In
the future for the payment or performance of:
Specific Debts. The debts,liabilities and obligatlons,and their renewals,extensions,refinancing and modificatlons,evidenced by(describe):
All Debts. All debts,liabilities and obligations of every type and description owed now or in the future by Association to Financial Institution,
6. Endorse,assign,transfer,mortgage or pledge bills receivable,warehouse receipts,bills of lading,stocks,bonds,real estate or other property now owned or
hereafter owned or acquired by the Association as security for sums borrowed, and to discount the same,unconditionally guarantee payment of all bills
received,negotiated or discounted and to waive demand,presentment,protest,notice of protest and notice of non-payment.
7. Enter into and execute a written night depository agreement,a lock-box agreement or a safe deposit box lease agreement.
8, Enter into and execute any preauthorized electronic transfer agreements for automatic withdrawals,deposits or transfers Initiated through an electronic ATM or
point-of-sale terminal,telephone,computer or magnetic tape using an access device like an ATM or debit card,a code or other similar means.
9. Enter into and execute commercial wire transfer agreements that authorize transfers by telephone or other communication systems through the network
chosen by Financial Institution.
10. Guaranty the payment and performance of debts,liabilities and obligations owed to Financial Institution or its successors and assigns by
Specific Debts. The debts,liabilities and obligations,and their renewals,extensions,refinancing and modifications,evidenced by(describe):
❑ All Debts. All debts,liabilities and obligatons,and their renewals,extensions,refinancing and modifications,that Borrower owes now or in the future
to Financial Institution,to the extent allowed by law.
11. Periodically amend,restructure,renew,extend,modify,substitute or terminate any agreements or arrangements with Financial Institution that relate to this
resolution.
12 Execute other agreements that Financial Institution may require,and perform or cause to be performed any further action necessary to carry out the purposes
of this resolution.
13. Other(specify)
LIMITATIONS ON POWERS(IF ANY). The following are the Association's express limitations on the powers granted under this resolution.
EFFECT ON PREVIOUS RESOLUTIONS. Unless otherwise agreed to in writing, this resolution replaces any earlier related resolution and will remain effective until Financial
Institution receives and records an express written notice of its revocation,modification or replacement.Any revocation, modification or replacement of this resolution must be
accompanied by documentation,satisfactory to Financial Institution,establishing the authority for the change.
CERTIFICATION OF AUTHORITY. !further certify that the Association has, and at the time of doption of this resolu' n had, full power and lawf authority to adopt the
resolutions on Page 3 and to confer the powers granted above to the persons named who have ul power and lauoful ority to exercise the same. ply seal below where
appropriate.)
❑If checked,the Association is a non-profit lodge,association,or similar organization. X
(Secretaryt
est by Other )
X
(Attest by Other Officer)
Page 1 of 2 Rev.05/08
The Association named on this resolution resolves that:
(1) The Financial Institution is designated as a depository for the funds of the Association and to provide other financial accommodations indicated in this resolution.
(2) This resolution shall continue to have effect until express written notice of its rescission or modification has been received and recorded by the Financial Institution. Any
and
all prior resolutions adopted by the Association and certified to the Financial Institution as governing the operation of this association's account(s),are in full force and effect,
until the Financial Institution receives and acknowledges an express written notice of its revocation, modification or replacement. Any revocation, modification or
replacement of a resolution must be accompanied by documentation,satisfactory to the Financial Institution,establishing the authority for the changes.
(3) The signature of an Agent on this resolution is conclusive evidence of their authority to act on behalf of the Association. Any Agent,so long as they act in a representative
capacity as an Agent of the Association, is authorized to make any and all other contracts, agreements,stipulations and orders which they may deem advisable for the
effective exercise of the powers indicated on page one,from time to time with the Financial Institution,subject to any restrictions on this resolution or otherwise agreed to in
writing.
(4) All transactions, if any,with respect to any deposits,withdrawals, rediscounts and borrowings by or on behalf of the Association with the Financial Institution prior to the
adoption of this resolution are hereby ratified,approved and confirmed.
(5) The Association agrees to the terms and conditions of any account agreement,properly opened by any Agent of the Association. The Association authorize the Financial
Institution,at any time,to charge the Association for all checks,drafts,or other orders,for the payment of money,that are drawn on the Financial Institution,so long as they
contain the required number of signatures for this purpose.
(6) The Association acknowledges and agrees that the Financial Institution may furnish at Its discretion automated access devices to Agents of the Association to facilitate those
powers authorized by this resolution or other resolutions in effect at the time of issuance. The term"automated access device"includes,but is not limited to,credit cards,
automated teller machines(ATM),and debit cards.
(7) The Association acknowledges and agrees that the Financial Institution may rely on alternative signature and verification codes issued to or obtained from the Agent named
on this resolution. The term"alternative signature and verification codes"includes, but is not limited to,facsimile signatures on file with the Financial Institution, personal
identification numbers(PIN),and digital signatures. If a facsimile signature specimen has been provided on this resolution,(or that are filed separately by the Association
with the Financial Institution from time to time)the Financial Institution is authorized to treat the facsimile signature as the signature of the Agent(s)regardless of by whom or
by what means the facsimile signature may have been affixed so long as it resembles the facsimile signature specimen on file. The Association authorizes each Agent to
have custody of the Association's private key used to create a digital signature and to request issuance of a certificate listing the corresponding public key. The Financial
Institution shall have no responsibility or liability for unauthorized use of alternative signature and verification codes unless otherwise agreed in writing.
FOR FINANCIAL INSTITUTION USE ONLY
Acknowledged and received on (date)by MI0130PERE (initials).
❑This resolution Is superseded by resolution dated
Comments:
Page 2 of 2 Rev.05/08