Loading...
HomeMy WebLinkAboutResolution 1987-027 RESOLUTION NO. 87-27 WHEREAS, from time to time, the City of North Richland Hills verbally requests Bank of North Texas, N.A. (the "Bank") to transfer funds to other banks or to other accounts at the Bank for credit to persons designed by the City of North Richland Hills in amounts not to exceed the collected balance on deposit with the Bank, in a matter which makes it inconvenient or impossible to execute prior written authorization, instructions or releases otherwise required by the Bank so that the Bank requests for the transfer of funds. NOW, THEREFORE, BE IT RESOLVED, that the officers of the City of North Richland Hills, listed below are hereby authorized to enter into and perform the Agreement attached hereto as Exhibit "A" on behalf of the City of North Richland Hills with the Bank providing for requests for the transmission of funds belonging to the City of North Richland Hills upon the terms and conditions set forth in said Agreement, and to appoint such persons who may request such transfers on behalf of the City of North Richland Hills in accordance with such Agreement. The authority conferred herein may be exercised by any two officers as outlined in the approved Investment Policy. The authorization shall continue in full force and effect until written notice of revocation shall be received by the Bank. Director of Finance TITLE ~~~ (Authorized Signature) ~ed~~=:~ Asst. Director of Finance TITLE Special Projects Accountant TITLE w~ CJ tvw!.rÞ¡,¡) (Authorized Signature) Staff Accountant TITLE Passed and approved this 28th day of September, ~ Mayor ATTEST: ()~~ APPR~O~ ANDþEG : ::;? ¿<--t:.-;!'~) At tæ'rney - ~-j. EXHIBIT A TO FUNDS TRANSFER A~REEMENT Authorized Accounts ------------------- Listed below are the accounts with BANK OF NORTH TEXAS from which funds may be transferred in ~ccordance with the Funds Transfer Agreement between Customer and Bank: 0178004 City of North Rich1and Hills - r..onso1idated Account Name Account Number Account Address PO noX:'1~6'1~ Attn: North Rich1and Hills, 'IX 7(;1'10 Deborah Scott Individual(s) and Telephone Number(s) to be used for verification: Name Deborah Scott Telephone ( 817 Telephone (817 281-0041 EXt 216 281-0041 Ext 217 Name Doma ··Heishman Do you wish to receive telephone notification for all incoming wires to this ac=ount? x YES NO ------------------------------------------------------------------------ ------------------------------------------------------------------------ 0177972 City of North Rich1and Hills - Debt Service/Bonds Account Name nn :'3ox J36,)9 Account Number Account Address North Rich1and Hills, '.T'x 7618n Attn: Ibnna Heishman Individual(s) and Telephone Number(s) to be used for verification: Name IXmna Heishman Telephone ( 817 Telephone ( 817 281-0041 Ext 217 281-0041 Ext 216 Name Deborah Scott Do you wish to receive telephone notification for all incoming wires to this account? X YES NO ======================================================================== City of North Rich1and Hills (herein cal~ "Customer") By: .....~'"Ø~c.~ BANK OF NORTH TEXAS (herein c9-11ed "Bank") / By: Title: Director of Finance Title: Effective Date: ~{. : .. .' ··.·r.-< EXHIBIT B TO FUNDS TRANSFER AGREEMENT Authorized Representatives -------------------------- The following are the Authorized Representatives, their Dollar Limit(s) (if any), and Account Number(s) for the undersigned wire transfer customer ("Customer") for purposes of the Funds Transfer Agreement between Customer and Bank. PIN' Authorized Dollar Acount (Assigned Representative (Name) Limit Number by Bank) +-------------------------------+------------+------------+------------+ 0178004 l-~:-~:~~---------------------l-~~~~~~~~~~~l-Q1I731Z-----l------------~ I Director of Finance I I I I . +-------------------------------+------------+-Õr-~~4-----+------------+ I Jim Cook I S 500,000.00 I 01~7~72 I I +-------------------------------+------------+------------+------------+ I Assistant Director of Finance I I I I +-------------------------------+------------+-Drnm~4-----+------------+ I Deborah Scott , I $ 500,000.00 I 0177972' I I +-------------------------------+------------+------------+------------+ I Accountant I I I I +-------------------------------+------------+-Õï7&0Õ4-----+------------+ I Danna Heishman I $ 500,000.00 I 0177972 I I +-------------------------------+------------+------------+------------+ I Accountant I I I I +-------------------------------+------------+------------+------------+ I I I I I +-------------------------------+------------+------------+------------+ I I I I I +-------------------------------+------------+------------+------------+ Bank is authorized to issue Personal Identification Numbers (PIN's) for each of the Authorized Representatives listed above, and to mail those PIN's directly to the Customer Representative listed below: CUSTOMER REPRESENTATIVE: Lee Maness MAILING ADDRESS: City of North Rich1and Hills PO Box 18609 North Rich1and Hills, Tx 76180 City of North Rich1and Hills (herein called "Customer") By: - ~ ~~~. ~- BANK OF NORTH TEXAS (herein called "Bank") By: Tit 1 e : Director Qf Finance r Title: Effective Date: ·' EXHIBIT C TO FUNDS TRANSFER AGREEMENT .'!... Repetitive Transfers -------------------- ------------------------------------------------------------------------ Account to be Debited (Name and Number) Receiving Bank Name and Location (Include Branch if Applicable) Credit Information (Attention Line, Credit Account Name and Number, Special Instructions) ------------------------------------------------------------------------ City of North Rich1and Hills First Republic Bank Dallas #111000012 for credit to First Republic Bank Ridh1and 1~009237 Ci ty of North ìüchland Hills Federal Houston for credit to Allied Bank of Texas 1,Þl1300l064 Att: Invest::rœnt Dept GNMA. Repo Ci ty of North Rich1and Hills First Republic Bank Ft Worth for credit to Fidelity National Bank AccfhO037499 . ABAit 111900015 Ci ty of North Richland Hills First City National Bank Houston Invest::rœnt Division Attn: Ih11 IÆHaven Cred1.t orj-007 44 ABA:£~ 1130f)o010 Citf:r of North Ric and Hills MBank Fort Worth Attn: Bob Gregory AM.# 111~uUL22 City of North Rich1and Hills Federal-Dallas for credit to Haltom Bank Attn: Jo Ball ABAit 111922763 For further credit to City of North Rich1and Hills #4008R01 For further credit to City of North Rich1and Hills Insured CD Account For further credit to City of North Rich1and Hills Insured CD's For account of City of North Richland Hills Insured CD ' s For account of City of North Richland Hills Insured CD ' s For account of City of North Rich1and Hills Insured CD ' s ------------------------------------------------------------------------ Authorization for these repetitive transfers will remain in effect ' until amended or cancelled in writing. City of North Rich1and Hills (herei_n Z "Customer") By: ~/----- BANK OF NORTH TEXAS (herein called "Bank") . ,.... -" By: Title: Director of Finance Title: / Effective Date: FUNDS TRANSFER AGREEMENT Bank of North Texas The undersigned wire transfer customer (herein called "Customer") hereby requests . . ., . " " (herein called "Bank") to act upon instructions from Customer to transfer funds on the terms and conditions set forth In this Funds Transfer Agreement (herein called Agreement). The Funds Transfer service is offered by Bank as a method to transfer funds electronically for Customer. In consideration of the mutual covenants hereafter contained, Customer and Bank agree as follows: I. AUTHORIZATIONS 1. Customer requests Bank to honor and act upon all requests which Bank receives for the transfer of funds from accounts designated in Exhibit A (which is attached hereto and incorporated herein for all purposes) when such requests are accompanied by a confidential Personal Identification Number (herein called "PIN" or "PIN's") assigned to Customer. Such PIN's will be assigned by Bank to Customer for the use of Customer's Authorized Representatives designated in Exhibit B (which is attached hereto and incorporated herein for all purposes). Such requests must be in compliance with Bank's transfer and security procedures. 2. Customer requests Bank to transfer funds (a) from specific Customer account(s) at Bank to any other Customer bank account(s) specified by Customer, whether such accounts are at Bank or another bank or financial institution, and (b) from Customer account(s) at Bank to any account of a third party specified by Customer, whether such third party account(s) are at Bank or another bank or financial institution. 3. Bank agrees to use its best effort to act upon all Customer transfer requests on the day received, when received prior to deadlines set by Bank, and to use any means and routes that Bank, in its sole discretion, may consider suitable for the transmission of funds. 4. Customer requests Bank to transfer funds based upon pre-determined repetitive transfer information described in written instructions to Bank signed by Customer. The written instructions are attached hereto as Exhibit C (which is incorporated herein for all purposes). Such instructions cover pre-authorized transfers of a repetitive nature (those in which transfer debit and credit parties remain the same; date and dollar amount are variable). These instructions may be modified, changed, or altered by submission of the written modification to Bank; such modification must be signed by Customer and such modification shall not be effective until it is incorporated into the Funds Transfer System by Bank. 5. Bank may, at its option, verify transfers by notifying Customer at the telephone number specified by Customer. This number may be changed by written request of Customer; however, such change shall not be effective until acknowledged in writing by Bank. 6. Customer authorizes Bank to record mechanically any telephonic instructions received by Bank from Customer; however, Bank has no duty to record any such instructions and the decision to record such instructions is totally within Bank's discretion. II. PERSONAL IDENTIFICATION NUMBERS (PIN'S) 1. Bank will assign PIN's to Customer for the use of Customer Authorized Representatives to enable such individuals to make verbal requests for wire transfers. 2. Customer shall maintain the highest level of security and will make the PIN's known only to the Authorized Representatives who will use such PIN's. 3. Bank assumes no responsibility to discover, audit, or report to Customer any possible breach of security by Customer's agents or representatives, or unauthorized disclosure or use of such PIN's. Customer shall promptly notify Bank of any compromise of security. Customer will be responsible for any liability, loss, or damage resulting from Bank's actions in accordance with instructions to Bank from unauthorized persons when accompanied by a PIN assigned to Customer. 4. Customer shall provide the appropriate PIN, in addition to Customer name, telephone caller's name, dollar amount(s), account number(s), and other transfer information when requesting a transfer. 5. Customer agrees to comply with and maintain the confidentiality of all security measures instituted by Bank. Bank may change security measures upon written notice to Customer. III. ADDITIONAL AGREEMENTS 1. Customer agrees to release Bank from responsibility or liability for any inaccuracy, interruption, delay, or failure in transmission, and to indemnify and hold Bank harmless against claims based thereon, when same are occasioned by any circumstances beyond Bank's reasonable control, including but not limited to circumstan- ces associated with the following: wire service availability, weather, power failure, air conditioning failures, communication line failures, and errors or the lack of responsiveness of other organizations. 2. Customer assumes full responsibility for all transfers made by Bank in accordance with the procedures stated herein. 3. Customer agrees to assign to Bank no responsibility beyond the duty to exercise ordinary care, and Customer agrees that Bank shall be conclusively deemed to have exercised ordinary care if Bank has followed the procedures stated herein or if Customer has not followed such procedures. 4. Customer agrees to provide written notice to Bank in order to change or revoke the designation of Authorized Representatives; provided, however, that Bank will have a reasonable period of time to act upon each such change, and that Bank may, in its sole discretion, act upon verbal notice which it reasonably believes to be from Customer; however, Customer will promptly confirm such verbal notice in writing. 5. Customer shall have no right to reverse, adjust, or revoke a transfer request after it is received by Bank, except under mutual agreement. In the case of an erroneous or otherwise irregular transfer of funds, Bank may, but shall not be obligated to, on its own initiative, request the transferee to return the funds previously transferred on behalf of Customer. A transfer request issued by Customer is paid at the time the transfer is sent, at the time the transfer is credited to the transferee's account on the books of Bank, or at the time the advice of credit for such transfer is sent or telephoned to the transferee by Bank, whichever occurs first. 6. Customer agrees that transfer requests shall not exceed the current collected balance in Customer's account. If Customer's account does not contain sufficient funds to accomplish such transfer, Bank may, at Bank's option, debit Customer's account into overdraft and Bank shall not be liable for damage to Customer as a result thereof; however, Bank shall not be obliged to debit Customer's account into overdraft. Bank may, in its sole discretion, refuse any transfer request if the transfer would result in an overdraft. Customer shall pay overdrafts which occur from the above-described events upon demand, together with interest on the overdraft at the maximum lawful rate of interest. Bank may charge Customer's account at any time for the amount of this interest. 7. Customer shall supply Bank with any other information the Bank may reasonably request, including but not limited to money amounts, accounts affected, dates of transfer, supplemental instructions, and further evidence of any Authorized Representative's authority to transfer funds or to do any other act contemplated under this Agreement. 8. Bank may elect not to act upon a transfer request, for Customer's protection, if Bank is unable to obtain proper verification of such request satisfactory to Bank, or if there is any inconsistency between a transfer request and information previously supplied to Bank, or if such request is not initiated in accordance with security procedures implemented by Bank. 9. Customer shall review promptly the written notification of transfer mailed to Customer by Bank and promptly report to Bank any discrepancy or objection concerning such transfer. 10. Customer shall review promptly and reconcile its statements of account and report to Bank in writing within thirty (30) days after the statement date any discrepancies or any other objections of any type or nature between Customer's records of such transactions and the statement furnished by Bank. Customer expressly agrees that the failure to report any such discrepancies or objections shall relieve Bank of any liability with respect to such discrepancies or objections. 11. Customer agrees to hold Bank harmless and indemnify Bank for any and all claims, demands, expenses, (including but not limited to attorney's fees and costs), loss or damage of any nature whatsoever arising directly or indirectly from any transfer request initiated pursuant to this Agreement, any addenda to this Agreement, or other matters related to this Agreement, including but not limited to any election made by Bank under Section 111.8. of this Agreement, except for liability to Customer caused by gross negligence of Bank; however, in no event shall Bank be liable for any consequential or special damages. 12. Customer agrees to pay such wire transfer fees as Bank may impose from time to time in accordance with Bank's customary pricing policies and to reimburse Bank for any direct or indirect transfer charges or expenses incurred by Bank. Such fees, charges, or expenses shall be paid by Bank's debiting Customer's account(s) at Bank, or if Bank so elects, by a method of imposing account analysis fees and balance requirements upon Customer's account(s) at Bank. IV. OTHER CONDITIONS 1. The headings of Sections as used herein are for convenience only and shall not be construed to be a part of the text of this Agreement. 2. This Agreement may be terminated at any time by Bank and by written notice by Customer to Bank; however such termination by Customer shall not be effective until acknowledged by Bank. Termination of this Agreement shall not terminate the provisions of Sections 111.3 and 111.11 of this Agreement. 3. This Agreement constitutes the entire agreement between Bank and Customer and supersedes any and all other agreements, either oral or in writing, between the parties with respect to the subject matter hereof. No modification or supplement to this Agreement shall be valid or effective until the same is in writing and signed by Customer and Bank. 4. This Agreement shall be deemed to be a contract under and for all purposes shall be governed by and construed in accordance with the laws of the State of Texas and the appliable laws of the United States. This Agreement is effective on the Effective Date of Agreement which appears hereinbelow. City of North Rich1and Hills ~ ~'customer") ~ _L£Lt:4. .. - ~ By: By: Title: Title: Director of Finance Effective Date of Agreement September 28, 1987