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HomeMy WebLinkAboutRes 04-14 WA Authorizing CEO to enter into a Depository Contract WESTLAKE ACADEMY RESOLUTION NO. 04-14 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE WESTLAKE ACADEMY, AUTHORIZING THE CEO OF THE ACADEMY TO ENTER INTO A DEPOSITORY CONTRACT. BE IT RESOLVED BY THE BOARD OF DIRECTORS OF WESTLAKE ACADEMY: WHEREAS, Section 100.1943(b) of Title 19 of the Texas Administrative Code, requires the charter holder/charter school to file one copy of the depository contract with the TEA Division of Financial Audits by November 1, and WHEREAS, the Texas Administrative Code requires that a copy of the board resolution approving the awarding of the depository contract to the bank be filed by November 1, and WHEREAS, a letter stating that the prior year's contract is still in effect will not be accepted by TEA. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE WESTLAKE ACADEMY: SECTION 1: That the Board of Directors of Westlake Academy does hereby authorize the CEO to enter into a depository agreement on behalf of the charter holder/charter school. SECTION 2: That this Resolution shall become effective upon the date of its passage. PASSED AND APPROVED ON THIS 1 Ith DAY OF OCTOBER, 2004. Afx ATTEST: Scott Bra Ile , President � p inge Crosswy, Secre Trent O. e , CE APPRO RM: L. Canton A ey WA 04-14- DEPOSITORY CONTRACT FOR FUNDS OF OPEN-ENROLLMENT CHARTER SCHOOLS UNDER TEXAS EDUCATION CODE, CHAPTER 12, SUBCHAPTER D. STATE OF TEXAS COUNTY OF TEXAS County-District Number: 220-810 FEIN Number(Federal Identification Number): 75-2449357 Bank Routing Number: ARTICLE I. JP Morgan Chase (Bank One), hereinafter referred to as the "Depository," located at 420 Throckmorton, Suite 400, Fort Worth, TX 76113-2050, Tarrant County, State of Texas, being a bank as that term is defined in section 45.201 of the Texas Education Code, hereinafter referred to as "the Code," was duly selected by the governing body of the Westlake Academy Charter School/Town of Westlake (charter holder) located in Tarrant County, Texas, hereinafter referred to as the "school,"to serve as the Depository of the school funds of the School received under section 12.106, Texas Education Code, except those school funds permitted by law to be deposited or invested in accordance with sections 2256.009-2256.016, Texas Government Code at the sole discretion of the governing board of the school. The action of the governing board of the school was duly taken and the Depository is to serve pursuant to this contract until its successor is selected and has qualified unless sooner terminated by Depository's failure to adhere to all requirements of the Code and of this contract. ARTICLE II. This contract is executed by the school and the Depository in three copies, all of which shall be deemed originals. TO TO BE COMPLETED BY SCHOOL AND VERIFIED BY BANK (For all funds f _I ro e from the Texas Education Agency) Type of Account: Checking Transit Routing Number Account Number AGREED AND ACCEPTED on behalf of the school this the 11'' day of October, 2004. Signature of CEO Signature of Secretary of School Board ATTEST: AGREED AND ACCEPTED on behalf of Depository this the _ day of October, 2004. Typed Name of Depository JP MORGAN CHASE (BANK ONE) Signature of Authorized Officer Title of Authorized Officer Acknowledgment STATE OF TEXAS COUNTY OF TARRANT Before me, the undersigned authority in and for said county and state, on this day personally appeared (insert name of bank officer) known to me to be the person whose name is subscribed to the foregoing instrument on behalf of the Depository named therein, and known to me to be an officer authorized to execute the foregoing instrument on behalf of said depository, and acknowledged to me that (s)he executed the same as the act and deed of said Depository, for the purpose therein expressed and in the capacity therein stated. Given under my hand and seal of office this the day of , 2004. Signature of Notary. Notary Public in and for (SEAL) County, Texas My Commission Expires: ACCEPTED AND FILED AT TEXAS EDUCATION AGENCY,AUSTIN, TEXAS (Date), (Signature) The School Financial Audits Division.