The URL can be used to link to this page

Home My WebLink About1990-11-14 91-15 RESOLVEDate r.uuio-14-gn Item No. 91-15 Item/subject: ORDER, n,nw..iaiag MY Manager M @recuts FeeolLstioe for OpenDq areiw a Deposit Fleet Responsible Department: Bank .m.n... FiiuLKE DepaxliplLt. Commentary: itrelir Ma Cfty's current cl a writing ptocabne, ore iatlividual me rgtd o iae i M sign all of our checks — the City ltessLmi. Tn tevieaing this sftvat , we balleve Mat certain addtT:'*wt aefeguatder can t helpful in ireurilg .� that final paNients aM other payor r" ate not being taleae al to mntracinee or vendors udticut cleaterce flan all teeponefble depatmmis. The proposal ptxshae would temlite Mat all checker of $5000 ov ^ower he physically sigred by txo auM ital City petsvmel. Genem11Y, this would be one iMividual frau Me FLeLce DapazLiant ard one fma Ma City +iareger's Office. W world tevnme ci }our approval of Mie Otvlar. nepettxvnr Nm✓ I�EY 'finance Dinactor's tmmnmtlatioe and would request Your approval. City Monegrr Associ fo i tion., for Opallag and MkIaLning a Deposit Pranm[, and P®ranrLau fron Fiaenco Dirs.Te Budget Approval: N/A Female Damenor Legal Approval: eiy saeeanr Introduced For Passage ❑ First Reading Page _ of _ ❑ Referral 91-15 Assigned co Councilor Scone, November 14, 1990 CITY OF BANGOR (TITLE.) City NianaBei. w.saraht,an ?_mj;_sli Aorooint Flet Bagc By W City Caenail ofthe City ofBaryor: MWLVBD. T Fleet Hank of Maine is hereby ciss:gna•ed an; a depcaitoiy "th amutlarity to accept at any throe for the aslit of said aroonni(s). deposits; by wlnreoeuei fn whatsaei form aM in whatever muauer arbxesl; artl 88 IT F MHER RE*CL 1, THAT the City of Barmicrr crer two (2) accaums with Fleet Bards of Media. Soh eoouos Stull be cumedt 1. City of Bmnp - Acvwnta Payable 2. City of Bauer - Payroll m IT FUREC®i BESQM® 9 until entified in cuithnq to the contrary, Pleet emk of [sire he authorized aced dixxted to pay, certify, apply, or otlerwiae 1»ror arch charge to the acccimts eutleriaed adthout Inquiry ad without reganl to the application of the proceeds thereof, choclm, dvfts, totes, bills of expunge, xreptanm, mtlertaldnge ad oth¢ a,mt..mrmt. car orders for the paynent, transfer or withhauul of money for r3at s P¢yxee and to ehonsoevez payahle, including those dram to the frrlividual oxxiesc of a signer, ad to rempubme AN valid all waives of daoaM, protest ad Notice of protest or dishonor of ay, check, rote, hill, draft or atter made, drawn or etdorsm when Signal, accepted or exedcrsol byr Mame Title John G. Field Deputy Finance Director SON[ Finance Director fYWad A. Baaatt City Manager Rout W. Farrar D veatvr of NNi.nle[Ldtiom Serer 6 Stgrutiue - Single Signatures tD to $4,999.99 Soint Signature $5,000.00 or grmter Single Signature - Sohn Field Sohn n.. saint Sigrat� re - Schn DmrYetero - fb) Serrett Rrbert Fatter AND BH 1T iWRB6H BtiB l 1 until Notified in writing to the contrary, Fleet Bunk of Meire is a tloriaed to accept and to act and rely upon ay Npecivena of Signatures of officers, or other persons, if ary, authorized to sign which ars frniehai to the BaNc. IN CITY COOCNIL November 16, 1990 Passed gg%9 TY B N 91-15 E E 5 0 L V E Aatborizine City Maraper to tatablieb a Deposit Account - Fleet Bank CITY OF eM MAINE 8NE e: I aa FINANCE DEPAPTM ENT TEL. 21171045 hhn Guarana, FinanreumiAr yW'' 1 NOVO 5 7530 ')Re: 1, 1990 CITY MANAGER'S OFFICE �[o: Edward A. Barratt, City manager r: John Quartararo, Finance Director Re: Corporate resolution for Fleet Bank Attached in the standard resolution Fleet Bank uses for the opening of a bank ac count by a municipality and the seting of authorised signers.As we have discussed, certain additional safeguards are needed to assure that final payments are not being released to contractors without clearance fret all responsible departments. Further, that the city is assured that payments are being released where there is sufficient and proper backup to justify and warrant the payment. I am recommending that the city institute a two party signature policy for payments equal to or greater than $5,000. The originator would be the first signer, who could issue a check up to $6,999.99 on his o signature. The joint signer is needed for checks equal to or greater than $5,000. No one person could signer as both an originator and a joint signer. The signers would be as follows: originator - John Field, Deputy Finance Director John puartararo, Finance Director joint signer John Quartararo, Finance Director Rdward A. Barrett, City manager Robert W. Farrar, Director of Administration It you agree with this approach, please place it on the next City Council agenda for action.