HomeMy WebLinkAboutR-93-25RESOLUTION NO.:
A RESOLUTION OF THE CITY OF SEBASTIAN, INDIAN RIVER
COUNTY FLORIDA, ADOPTING POLICY REGARDING THE NUMBER AND
FORM OF SIGNATURES THAT MUST APPEAR ON CHECKS, DRAFTS,
AND OTHER FINANCIAL DOCUMENTS; PROVIDING FOR REPEAL OF
RESOLUTIONS OR PARTS OF RESOLUTIONS IN CONFLICT HEREWITH;
PROVIDING FOR SEVEHABILITY; AND PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, Federal and State regulations now require almOst
immediate turnaround of payroll tax deposits, employee deductions,
pension and other benefit checks related to the issuance of payroll
checks; and
WHEREAS, the present bank authorized signatories resolution
only provides for two required signatures of a total of three
authorized signatories; and
WHEREAS, based on demonstrated and predicted circumstances,
the city has a need for additional flexibility in meeting legal
requirements of payroll-related disbursements, timely vendor
payments to take full advantage of discounts and avoidance of
penalties and late fees.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF SEBASTIAN, INDIAN RIVER COUNTY, FLORIDA, that:
Section 1. The City Council of the City of Sebastian hereby
establishes the following policy regarding the number of signatures
and the form of such signatures that must be placed on certain
documents regarding financial matters, including negotiable
instruments, purchase orders, and other financial papers.
· The following five officials are hereby authorized to sign
all such financial documents unless in a given case or cases a
statute of law may require a different requirement:
a. Finance Director
b. City Manager
c. Vice Mayor
d. Mayor
e. Acting City Manager
· The Finance Director or the city Manger may sign, as the
sole signatory, checks and other negotiable or non-negotiable
instruments, and other papers when the total of the financial
obligation of any such instrument is five hundred dollars ($500) or
less, except for payroll checks of the city, which shall be signed
by two signatures, actual or facsimile.
· Any such instruments that have a financial obligation of
more than five hundred dollars ($500.00) shall require the actual
manual signature of two of the above listed officials, and the
signature of the Vice Mayor and Mayor or the Acting City Manager
shall be allowed only in the absence or inability of the Finance
Director or the city Manager to affix his or her signature.
Section 2. CONFLICT. All resolutions or parts of resolutions
in conflict herewith are hereby repealed.
section 3~. SEVERABILITY. In the event a court of competent
jurisdiction shall hold or determine that any part of this
Resolution is invalid or unconstitutional, the remainder of the
Resolution shall not be affected and it shall be presumed that the
City Council of the City of Sebastian did not intend to enact such
invalid or unconstitutional provision. It shall further be assumed
that the City Council would have enacted the remainder of this
2
that the City Council would have enacted the remainder of this
Resolution without such invalid and unconstitutional provision,
thereby causing said remainder to remain in full force and effect.
Section 4. EFFECTIVE DATE.
This resolution shall take
effect immediately upon adoption by the City Council and shall
repeal Resolution No. R-87-43.
The foregoing Resolution was moved for adoption by Councilmember
as follows:
. The motion was seconded by Councilmember
and, upon being put into a vote, the vote was
Mayor Lonnie R. Powell
Vice-Mayor Frank Oberbeck
Councilmember Carolyn Corum
Councilmember Norma J. Damp
Councilmember Robert Freeland
The Mayor thereupon declared this Resolution duly passed as
adopted this ~~ day of ~~ .~ , 1993.
CIT~ OF ~EBA
Kathry~ M. O'Halloran, CMC/AAE
City Clerk
(SEAL)
Approve~/~Form_ and Content:
charles Ian Nash
City Attorney