Title
A Resolution Approving A Depository for the Series 2022 GO Warrant Proceeds
Summary
United Bank is requesting a separate resolution approving the checking account that will be used to manage the loan that was approved at the December 5th Council Meeting.
Budgetary Impact: N/A
Non-Capital Item:
____ Budgeted under account #_______________ (discussion item)
____ Not budgeted, requesting transfer of $__________ from Account #______________ to Account #_____________.**Request to Transfer Departmental Budget Dollars form must be attached**
____ Not budgeted requiring increase to account #___________ in the amount of $____________.**Request to Increase Departmental Budget Dollars form must be attached**
Capital - Departmental **Capital Purchase Worksheet form must be attached**
____ Budgeted under account #______________ for $_________ and described in budget as ________________________. Additional amount needed, if any: Increase in budget of $_________ OR, transfer of $________ from Account #____________ to Account #_____________**Request to Increase OR Request toTransfer Departmental Budget Dollars form must be attached**
____ Not Budgeted - account #____________ requires budget increase of $_____________.**Request to Increase Departmental Budget Dollars form must be attached**
Capital Project - **If requesting to start a project, a Capital Project Worksheet form must be attached**
In current year Capital Projects Plan:
_____ Yes, described as __________________________, planned amount $___________, requesting $_________ as total project estimate, including contingencies, under account #_________________
_____ No, requesting $___________ as total project estimate, including contingencies, under account #____________________.
_____ Yes, requesting an increase of $___________ to an already approved project titled ________________________ that is being tracked under Account No. ___________________.
_____ No, requesting an increase of $__________ to an already approved project titled _______________________ that is being tracked under Account No. _________________.
Body
WHEREAS, Council approved issuance of the Series 2022 General Obligation Warrants through United Bank at the December 5th, 2022, Council Meeting, and
WHEREAS, a separate resolution is now needed to approve opening the loan proceeds checking account.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Foley, Alabama, as follows:
SECTION 1: Authorizes the use of United Bank as a depository of the Series 2022 GO Warrants proceeds.
SECTION 2: Approves the following City Officials to execute financial documents and to act as signors on the account, with two signatures required for checks written for $5,000 or more:
J. Wayne Trawick, Council President
Charles J. Ebert, III, Council Member
Rick C. Blackwell, Council Member
Vera J. Quaites, Council Member
Richard Dayton, Council Member
Susan Steigerwald, Finance Director
SECTION 3: This Resolution shall become effective immediately upon its adoption as required by law.