Res 07-499
RESOLUTION No.()l- 44lt.
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF FEDERAL WAY, WASHINGTON,
DESIGNATING THE QUALIFIED PUBLIC
DEPOSITORY WHERE CHECKS ARE TO BE
DRAWN, DESIGNATING THOSE PERSONS
AUTHORIZED TO SIGN CHECKS, DRAFTS OR
WARRANTS ON BEHALF OF THE CITY. (REPEALS
RESOLUTIONS NO. 89-09, NO. 90-22, NO. 90-30, NO.
94-174 AND NO. 99-304.)
THE CITY COUNCIL OF THE CITY OF FEDERAL WAY, WASHINGTON,
DOES HEREBY RESOLVE AS FOLLOWS:
Section 1. Repealer. Resolution No. 99-304, adopted October 5, 1999 is hereby
repealed.
Section 2. City's Depository Bank Designated. Bank of America, a national
banking association, is hereby designated to be the qualified public depository bank whereon the
City checks are to be drawn and certain accounts are to be established from time to time on behalf
of the City.
Section 3. City's Authorized Signature. The following designated positions, the
City Manager and the Assistant City Manager/Chief Financial Officer, are hereby authorized to
open such checking? draft, warrant, or other depository accounts for and on behalf of the City, as
they shall deem necessary from time to time. Any checks, drafts or warrants drawn on any
accounts, so established, in excess of Five Hundred Dollars and no/l 00 ($500.00) must be signed
by both the City Manager and the Assistant City Manager/Chief Financial Officer.
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Section 4. Reliance on Authorization. Bank of America is entitled to rely and
act in accordance with the authorizations contained in this resolution until such time as it is
notified by a new resolution of the Federal Way City Council amending or repealing this
resolution.
Section 5. Severability. If any section, sentence, clause or phrase of this
resolution should be held to be invalid or unconstitutional by a court of competent jurisdiction,
such invalidity, or unconstitutionality shall not affect the validity or constitutionality of any other
section, sentence, clause of phrase of this resolution.
Section 6. Ratification. Any act consistent with the authority and prior to the
effective date of the resolution is hereby ratified and affirmed.
Section 7. Effective Date. This resolution shall be effective immediately upon
passage by the Federal Way City Council.
RESOLVED BY THE CITY COUNCIL OF THE CITY OF FEDERAL WAY,
WASHINGTON, THIS 5~ DAY OF ~f'\.Jl-- ,2007.
CITY OF FEDERAL WAY
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ATTEST:
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APPROVED AS TO FORM:
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CITY ATTORNEY, PATRICIA RICHARDSON
FILED WITH THE CITY CLERK: ~ 0'"
PASSED BY THE CITY COUNCIL: '\ 5 { Dr
RESOLUTION NO. . Vc- 4Glot .
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