BC 2012 07 16 Regular Meeting - Laserfiche WebLink

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July 16, 2012 (Regular Meeting) Page 1161 BB &T is on Cabarrus County's approved list of depositories and banks. When BB &T was reviewing their files they realized that they did not have an updated resolution on file for Cabarrus County. UPON MOTION of Commissioner White, seconded by Vice Chairman Burrage and unanimously carried, the Board adopted the resolution and authorized staff to execute the signatures. Resolution No. 2012 -13 C.D. Accounts Only BB &T Resolution and Agreement for Deposit Account County of Cabarrus 56- 6000281 Name of Entity EIN ❑ Corporation © Government Entity ❑ Sole Proprietorship ❑ Unincorporated Association ❑ General Partnership ❑ Non - Profit Corporation ❑ Limited Liability Company ❑ Limited Partnership ❑ Other I, the undersigned, hereby certify to BB &T that I am the Secretary (or as applicable, Proprietor, Authorized Partner, Authorized Manager or other Authorized Employee) of the above named Entity duly organized and existing under the laws of the State of North Carolina; and that the following are resolutions duly adopted by the Entity, and that such resolutions are in full force and effect and have not been amended or rescinded: RESOLVED, that BB &T is hereby designated as a depository institution in which the funds of the Entity may, subject to the rules of BB &T, be deposited by any of its officers, agents or employees; and that any such officer, agent or employee is hereby authorized on behalf of the Entity and in its name to endorse for deposit, whether in demand or time accounts, or for negotiation or collection, any and all checks, drafts, certificates of deposit or any other payment instrument payable to the Entity, which endorsement may be in writing, by stamp or otherwise, with or without signature of the person so endorsing, it being understood that on such items all prior endorsements are guaranteed by the Entity, irrespective of the lack of a guarantee by the Entity; and FURTHER RESOLVED, that any of the individuals listed below (a "Designated Representative ") is hereby authorized to open or close any deposit account with BB &T and to authorize those persons ( "Authorized Signers ") who may execute a BB &T signature card on behalf of the Entity and transact business on such account: Designated Representative (Signature) Printed /Typed Name /s/ Pamela S. Dubois Pamela S. Dubois /s/ Susan B. Fearrington Susan B. Fearrington /s/ Margaret R. Selby Margaret R. Selby Title Finance Director Asst. Finance Director Accountant FURTHER RESOLVED, that BB &T be and is hereby authorized and directed to honor, pay and charge any of the accounts of the Entity, without inquiry to or responsibility for the application of the proceeds thereof, all checks, drafts, or other orders for the payment, withdrawal or transfer of money in the accounts of or to the credit of the Entity, and to honor any authorization for the transfer of funds between different accounts wither 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 an 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