HomeMy WebLinkAboutRes 97-36 Establishing a Checking Account at Keller State Bank, Authorizing Signers, and Establishing Procedures for Transferring FundsTOWN OF WESTLAKE
RESOLUTION 97-36
A RESOLUTION OF THE BOARD OF ALDERMEN OF THE TOWN OF
WESTLAKE, TEXAS ESTABLISHING A CHECKING ACCOUNT AT THE
WESTLAKE BRANCH OF THE KELLER STATE BANK; AUTHORIZING
CERTAIN INDIVIDUALS TO SIGN CHECKS ON SAID ACCOUNT AND THE
CONDITIONS FOR SIGNING CHECKS; ESTABLISHING THE PROCEDURES
FOR TRANSFERRING FUNDS OWNED BY THE TOWN OF WESTLAKE,
TEXAS IN TEX-POOL AND AUTHORIZING CERTAIN INDIVIDUALS TO
MAKE SAID TRANSACTIONS; AND DECLARING AN EFFECTIVE DATE.
WHEREAS, the Town needs to establish a checking account so that it can
conduct its business; and
WHEREAS, an Alderman has improperly drawn checks on the Town's previous
checking account and made an unauthorized transfer of Town funds from TexPool; and
WHEREAS, it is necessary for the Town to establish procedures and
authorizations for the checking account and TexPool account;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN OF
THE TOWN OF WESTLAKE, TEXAS:
SECTION 1: That the Board of Aldermen of the Town of Westlake, Texas hereby
authorize the establishment of a checking account in the Town's name with the Westlake
Branch of the Keller State Bank. The following conditions shall apply to that account:
a) Ginger Crosswy, Town Secretary' Fred Held Alderman; and Abe Bush,
Alderman are authorized to sign checks on said account;
b) If a check is more that One Thousand Dollars ($1,000.00) two signatures will
be required for the check to be valid; and
c) It will be a violation of this resolution subject to removal from office for any
individual to write multiple checks of $1,000.00 or less each in order to pay an
invoice or statement in an amount greater that $1,000.00.
SECTION 2: The Town of Westlake may invest funds in excess of those needed
for the normal operation of the Town in the State of Texas fund called "TexPool".
Cringer Crosswy, Fred Held, and Abe Bush are hereby authorized by the Town of
Westlake to authorize transfers of the Town of Westlake funds to the checking account
with the Keller State Bank. No funds may be transferred from TexPool to another
account without a properly adopted resolution of the Board of Aldermen.
Resolution 97-36
SECTION 3: That this resolution shall become effective from and after its date
of passage.
PASSED AND APPROVED ON THIS 12TH DAY OF MAY, 1997.
Mayor
ATTEST:
4
Ginge rosswy, Town Secr ry
APPROVED AS TO FORM:
Paul Isham, Town Attorney