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HomeMy WebLinkAbout1782 SAVINGS ACCOUNT RESOLUTION NO. 1782 CERTIFIED COPY OF RESOLUTIONS ADOPTED BY A CORPORATION The undersigned secretary of Bremerton City Treasurey/Self Insurance Workmen;s Compensation Fund- a corporation, does hereby certify that the following is a full, tree and correct copy of a resolution duly and regularly adopied at a meeting of the Board of Directors of the company, duly called and held in the manner provided in the by-laws of the company on the 19th day of Semptember ,19 78 , at which meeting a quorum was present, to-wit: RESOLVED: Thai the PEOPLES NATIONAL BANK OF WASHINGTON be and is hereby designated as a depositary for the funds of this corporation and that a bank savings accounl shall be opened and kepl with the said PEOPLES NATIONAL BANK OF WASHINGTON in the name of this corporation. RESOLVED FURTHER: That the said PEOPLES NATIONAL BANK OF WASHINGTON be and it is hereby authorized to honor savings withdrawals in the name of this corporation and signed by any one ( 1 ) of the following officers: (number required) R. L. Goodpasture- City Treasurer Robert L. Trowbridge, Asst. City Treasurer Robert B. Stewart, Commissioner of Finance BE IT FURTHER RESOLVED: That said bank is authorized to supply any endorsement for the named corporation on any check or other instrument tendered for this account. BE IT FURTHER RESOLVED: That said bank is authorized to refuse to accept any deposit which would cause this company's savings accounts with PEOPLES NATIONAL BANK OF WASHINGTON to exceed any sum established by stalute or regulation. BE IT FURTHER RESOLVED: That there shall be no obligation on the part of said bank to see to the application of funds in any case whatsoever, and that a true copy of this resolution be certified and delivered to said bank on the opening of said account. IN WITNESS WHEREOF, I have hereunto set my hand and affiied the seal of said corporation this 3rd day of Oct ,1978 (SEAL) Glenn K. Jarstad, Mayor Kathleen L. Mandio, City Clerk Note: Present Federal Regulations (Regulation Q, Section 217.1 )permits profit making organizations to maintain a savings deposit provided such funds do not exceed $150,000 per such depositor at a member bank.