RESOLUTION NO. 167-05

 

A RESOLUTION DESIGNATING A DEPOSITORY AND APPROVING AN AGREEMENT FOR BANKING SERVICES BETWEEN THE CITY OF GRAND JUNCTION, COLORADO, AND ALPINE BANK, GRAND JUNCTION

 

RECITALS:

 

1.  The City of Grand Junction (hereinafter called “City”) solicited proposals from local banks and received six proposals. The proposal received from Alpine Bank, Grand Junction (hereinafter called “Bank”), being judged to be in the City’s best interest.

 

2.  Alpine Bank, Grand Junction, a banking corporation, is qualified as a depository for the funds of the City of Grand Junction.

 

3.  The City has a legitimate need for which the Bank can provide the following services: normal banking operations which include General Operating, Accounts Payable Clearing, Payroll Clearing, Petty Cash Clearing, Worker’s Compensation Clearing, Investigative Clearing, and additional services outlined in the attached agreement.

 

NOW THEREFORE; BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GRAND JUNCTION, that:

 

a)  The agreement for Banking Services between the City of Grand Junction and Alpine Bank, Grand Junction is hereby approved, effective January 1, 2006.

 

b)  The Finance Director is authorized to finalize and sign the contract on behalf of the City.

 

c)  The Bank is thereby authorized, as a depository for City funds, to accept on behalf of the City for credit and/or collection and all bills and notes payable

when endorsed in the name of the City in writing, by rubber stamp or otherwise, and that all transactions in connection therewith shall be governed by the conditions, rules, regulations, customs and practices now or hereafter adopted or practiced by the Bank.

 

d)  The names and titles of the persons authorized to sign demands against the various accounts are as follows:

 

PAYROLL CLEARING: any two  Kelly E. Arnold, City Manager

           Ronald M. Lappi, Finance Director

 

 

ACCOUNTS

PAYABLE CLEARING: any two  Kelly E. Arnold, City Manager

           Ronald M. Lappi, Finance Director

           Lanny Paulson, Budget & Accounting

           Manager

Jodi Romero, Customer Service

Manager

 

   WORKER’S COMPENSATION CLEARING: As authorized and directed by the Finance Director.

 

INVESTIGATIONS CLEARING: As authorized and directed by the Finance Director.

 

   PETTY CASH CLEARING: Any employee of the City is authorized to

   sign a check for the Petty Cash Account. The Bank will not be held liable

   with the following stipulations:

 

1)  No check will be honored if the amount is over $100.

2)  No check will be honored unless it has the employee’s signature and Identification Number on the check.

 

e)  The Bank is hereby authorized to pay any such instruments so signed or endorsed as above written, and presented to it for payment, including those drawn to the individual order of any officer or other person authorized to

sign the same.

 

Adopted and Approved this 2nd day of November, 2005.

 

 

 

    /s/ Bruce Hill      

    President of the Council

ATTEST:

 

 

/s/ Stephanie Tuin    

City Clerk