Title
A Resolution Approving an Increase to the VISA Credit Card Limit and the Issuance of Four New Cards
Summary
Description of Topic: A resolution approving an increase to the VISA credit card limit and the issuance of four new cards.
Body
WHEREAS, Resolution 3323-08 authorized obtaining VISA credit cards with an aggregate credit limit of $20,000 to be used in according with City policies and guidelines, and
WHEREAS, the following increases have been made to accommodate growth: Resolution 4914-12 increased to $36,500; Resolution 13-0166 increased to $50,000; Resolution 15-2087 increased to $75,000; Resolution 21-1074 increased $85,000; Resolution 22-1200 increased to $100,000; Resolution 23-1210 increased the limit to $145,000: Resolution 24-1161 increased to $161,500 and
WHEREAS, there is a need to increase the City's aggregate credit card limit to $201,500 and issue new cards as indicated on the attached report.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, as follows:
SECTION 1: Approves increasing the VISA credit card limit from $161,500 to $201,500 for the issuance of three additional cards and the increases in credit limit to existing cards.
SECTION 2: This Resolution shall become effective immediately upon its adoption as required by law.