BC 2014 06 16 Regular Meeting - Laserfiche WebLink

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June 16, 2014 (Regular Meeting) Page 2072 oral, by phone or electronic means without inquiry as to the circumstances related thereto and for whatever purpose or to whomever payable, including requests for conversion into cash as well as for deduction from and payment of cash out of any deposit, and whether or not payable to, endorsed or negotiated by or for the credit of any person signing same of any other officer, agent or employee of the Entity, when signed or endorsed by an original or facsimile signature of any ONE Authorized Signer; and FURTHER RESOLVED, that BB &T be and is hereby authorized to honor, receive, or pay any items bearing the signature of any one Authorized Signer even though payment may create an overdraft or even though such items may be drawn or endorsed to the order of such signer for exchange or cashing, or in payment of the individual obligation of such signer, or for deposit to such Authorized Signer's personal account and BB &T shall not be required or be under any obligation to inquire as to the circumstances of the issuance or use of any such item or the application or disposition of such item or the proceeds thereof; and FURTHER RESOLVED, that the Entity assumes full responsibility and holds harmless BB &T for any and all payments made or any other action taken by BB &T in reliance upon the signatures, including facsimiles thereof, of any Authorized Signer regardless whether or not the use of the facsimile signature was unlawful or unauthorized and regardless of by whom or by what means the purported signature or facsimile signature may have been affixed if such signature reasonably resembles the specimen or facsimile signature of the Authorized Signer; and FURTHER RESOLVED, that any Designated Representative, or person authorized in writing by a Designated Representative, is authorized to act on behalf of the Entity as follows: obtain information on accounts; appoint, remove or change Authorized Signers; deliver any night depository agreement; enter into any agreement for cash management services; lease a safe deposit box; enter into an agreement for deposit access device; enter into an agreement for credit cards; or enter into other agreements concerning the deposit accounts at BB &T; and FURTHER RESOLVED, that any and all prior resolutions executed on behalf of the Entity are hereby revoked and that the foregoing resolutions shall remain in full force and effect until the Entity officially notifies BB &T to the contrary in writing. BB &T may conclusively presume that this Resolution and Agreement for Deposit Account and any signature cards executed pursuant hereto are in effect and that persons identified herein are properly authorized to act on behalf of the Entity. The Entity, as changes to the Designated Representatives and/ or Authorized Signers are made, will immediately report and certify such changes to BB &T through submission of a new Resolution and Agreement for Deposit Account and /or signature card, as applicable. BB &T shall be fully protected in relying on such certifications and shall be indemnified and saved harmless from any claims, demands, expenses, losses, or damages resulting from the signature of any Designated Representative so certified, or refusing to honor any signature not so certified; and FURTHER RESOLVED, that all transactions by any officer, employee or agent of the Entity on its behalf and in its name prior to the delivery of this Resolution and Agreement for Deposit Account are hereby ratified and approved. In Witness 'Whereof, I have hereunto subscribed my name and affixed the seal, if any, of this Entity, this 16 day of June, 2014. /s/ Elizabeth F. Poole (F -2) Finance - CCS Request for a Budget Revision for the New Northwest Area Elementary School - $337,000.00 Cabarrus County Schools (CCS) is requesting a $337,000.00 budget reallocation for the New Northwest Area Elementary School. The request involves a reduction in the Contingency line item of $337,000.00 and increases to the Architect ($90,000.00), Engineering ($107,000.00), and Land ($140,000.00) line items. The request will be made to the Cabarrus County Schools Board of Education at their June 2, 2014 meeting.