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HomeMy WebLinkAboutRes 49-85 10/01/1985 r'\ ..--~ RESOLUTION NO. 49-85 A RESOLUTION AUTHORIZING THE SALE OF CERTAIN STOCK WHEREAS, the Village of Mount Prospect is the owner of certain stock; and WHEREAS, the Village of Mount Prospect, through its duly designated agents, desires to sell certain stocks; and WHEREAS, it is the opinion of the Mayor and Board of Trustees of the Village of Mount Prospect that in order to accomplish the sale of certain stock an account be opened by the Village with Prudential-Bache for the purpose of exchanging, purchasing or securing certain securities; and. . WHEREAS, thë Mayor and Board of Trustees of the Village of Mount Prospect deem it to be in the~est Lnterests of the Village to enter into an agreement with Prudential-Bache for the purpose of selling certain stock held in the name of the Village of Mount Prospect. NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS: SECTION ONE: That the Mayor is hereby authorized to sign and the Village Clerk to attest her signature on the "Cash Account Authorizing Resolution", attached hereto as Exhibit "A", which authorizes .the Village to open an investment account with Prudential-Bache Securities, Inc. to purchase, sell and/or deal in investment securities on behalf of the Village. SECTION TWO: That David C. Jepson, Director of Finance, and Richard L. Jesse, Treasurer/Comptroller are hereby authorized to execute any and all documents necessary to accomplish the sale of certain stock to be sold by Prudential-Bache Securities, on behalf of the Village of Mount Prospect. SECTION THREE: That this Resolution shall be in full force and effect ~rom and after its passage and approval in the manner providea by law. AYES: Arthur, Farley, Floros, Murauskis, Van Geem, Wattenberg NAYS: None ABSENT: None PASSED and APPROVED this 1st day of October , 1985. {!Q:/4~~ ,JI k ~ Carolyn H":Y Krause, Mayor- ATTEST: 1~y~ Carol A. Fields Village Clerk Cash Account Authorizing Resolution Prudential-Bache SeCUrities Document ID Code 62 955317 A.E.No. Deerfield, Branch 015 Account Number Village ,~ètiAäi¥ of , a corporation organized under the laws of , hereby certify that the following is a true and for~ct copy of a resolution dÖlð tdffited by the Bo'Y~ of Directors of said corporation at a meeting duly called and held on the s day of 0 er , 19 - , at which a quorum was present and that the said resolution has not been modified or rescinded and is still in full force and effect: Resolved, that an account be opened by this corporation with Prudential-Bache Securities Inc. (hereinafter referred to as Prudential-Bache), members of the New York Stock Exchange, and of other stock exchanges, to purchase, sell, and/or deal in any and all stocks, bonds, put and call options and other securities, and choses.in action (including, -but not exclusively, debentures, notes, scrips, participation certificates, rights, subscriptions, option warrants, when issued seéurities, repurchasé and reverse repurchase agreements, (including lending and borrowing monies in connection with such transactions) certificates of deposit, choses in action, evidences of indebtedness, certificates of indebtedness, certificates of interest of any and every kind and nature whatsoever, secured or unsecured, whether represented by trust, participating and / or other certificates or otherwise), and that all orders and instructions, written or oral, upon said account be given by either the President, Secretary, Treasurer, Vice-President or other designee of this corporation, and each of them is hereby authorized and directed to purchase and/or sell and/or deal in, through said Prudential-Bache, on behalf of this corporation, any and all stocks, bonds, put and call options and other securities, choses in action, that either of them may deem necessary or advisable for this corporation, for cash, and also to make payment and to sign checks or drafts drawn upon the funds of the corporation, and also, for this corporation, to withdraw from the said Prudential-Bache from time to time, to deliver or accept delivery of, and / or to borrow and / or to endorse, and / or to direct the transfer of record title of, any and all stocks, bonds, other securities, choses in action, and/or assets or funds that may be carried by said Prudential-Bache for the account of this corporation, and Further Resolved, that each of the aforesaid officers of this corporation, be and hereby is authorized and directed to execute and deliver on behalf of this corporation any customer's agreement required by Prudential-Bache, and to enter into, execute, and deliver, any and all other agreements, documents, rE!leases, and writings that may be required by said Prudential-Bache for the opening and / or continuing of said account in connection with any transactions relating to said account or to any securities, moneys or other property of the corporation, whether or not in said account, and Further Resolved, that until Prudential-Bache shall receive due written notices of change or rescission of these resolutions, said Prudential-Bache may rely upon the authority contained in these resolutions as continuing fully effective, and the said Prudential- Bache may rely upon any certified copy of resolutions, specimen signatures or other writings, signed on behalf of this corporation by any officer thereof; the acceptance of any other form of notice shall not constitute a waiver of this provision, nor shall the fact that any person hereby empowered ceases to be an officer or becomes an officer under some other title, in any way affect the powers hereby conferred, until Prudential-Bache shall receive due written notice of change or rescission, as aforesaid, and Further Resolved, that in the event of any change in the office or powers of persons hereby empowered, the secretary shall certify those changes to Prudential-Bache in writing, in the manner hereinabove specified, which notification, when received, shall be adequate both to terminate the powers of the person theretofore authorized, and to empower the persons thereby submitted, and Further Resolved, that any and all orders and instructions heretofore given to said Prudential-Bache on behalf of this corporation by any officer of this corporation, are hereby in all respects ratified, confirmed and approved, and Futher Resolved, that the foregoing resolutions and the certificates actually furnished to Prudential-Bache by any officer of the corporation, be and they hereby are made irrevocable, and shall be fully effective as to any transactions for the account of the corporation notwithstanding that the account may have been temporarily closed or inactive, until written notice of the revocation thereof shall have been received by Prudential-Bache. I do further certify that the following are the signatures and titles of the persons authorized and empowered to act on behalf of this corpor.at;on, pu""anllo the loo'e90;n9 .esolullo",; aod this "SOI~ce wll.h and does nol C.onflict with the existing corpor l chart (articles of i ~d bY-laws.. ~ ~ President ~~ Village Clerk Carol A. Fields MulluL PLU::;P\:::I..:: L Clerk the Village of ~tate of illlnols I, Vice-President Treasurer Title Designee Name Title Designee Name I do further certify that the said corporation is duly organized and existing, and has the power to take the action calleçl for by the aforesaid resolutions. In Witness Whereof, I have hereunto affixed my hand and the seal of the said corporation, this October 85 day of ,19- 1st (AffIX. Corporation Seal Here) :SM:HM~ Vlllage Clerk 4Cì-~~ Form 2115E