HomeMy WebLinkAboutR-95-41 RESOLUTION NO.: R-95~41
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
SEVERABiLITY; AND PROVIDING FOR AN EFFECTIVE DATE.
WltEREAS, the present bank authorized signatories resolution only provides for two
required signatures of a total of six authorized signatures; and
WItEREAS, based on demonstrated and predicted circumstances, the City has a need
for additional flexibility in meeting legal requirements of disbursements and timely vendor
payments to take full advantage of discounts and avoidance of penalties and late fees.
NOW, THEREFORE, BE IT RESOLVED BY lite 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 six 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:
PRIMARY SIGNATORIES
City Manager
Finance Director
Mayor
ALTERNATE SIGNATORIES
City Clerk
Assistant Finance Director
Vice-Mayor
The alternate signatory will be authorized to sign in the absence of the primary
signatory; however, the primary and the alternate may not both sign the same check for any
mount regardless of purpose.
The Finance Director or the City Manager 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, but the signature of an alternate may be allowed only in the absence of the primary
signatory and the signature of the Mayor or Vice Mayor shall be allowed only in the absence
or inability of the Finance Director or the City Manager to affix his or her signature.
~ CONFLICT. All resolutions or parts of resolutions in conflict herewith
are hereby repealed.
Sectlon 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 Resolution without such invalid and unconstitutional provision,
thereby causing said remainder to remain in full force and effect.
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Section 4. EFFECTIVE DATE. This resolution shall take effect immediately upon
adoption by the City Council and shall repeal Resolution No. R-93-25.
h~ foregoing Resolution was moved for adoption
~~ . The motion was seconded by Councilmember
--
upon being put to a vote, the vote was as follows:
y/Councilmember
and,
Mayor Arthur L. Firtion
Vice Mayor Carolyn Corem
Councilmember Louise Cartwright
Councilmember Norma Damp
Councilmember Raymond Halloran
The Mayor thereupon declared this Resolution duly passed and adopted this
day of ~ ,1995.
CITY OF SEBASTIAN, FLORIDA
Arthur L. Fir[ion
- '~ Mayor
ATTEST:
Kathryn 1~. O'Italloran, CMC/AAE
City Clerk
Approved as to Form and Content:
Timothy Williams
City Attorney
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