HomeMy WebLinkAboutOCSD 98-24 REPEALED5HSHDOHGE\5HVROXWLRQ1R
2&6'
RESOLUTION NO. OCSD 98-24
AUTHORIZING THE ESTABLISHMENT OF MISCELLANEOUS
BANKING ACCOUNTS
A RESOLUTION OF THE BOARD OF DIRECTORS OF ORANGE !
COUNTY SANITATION DISTRICT, AUTHORIZING THE ;
ESTABLISHMENT OF MISCELLANEOUS BANKING ACCOUNTS;i
ESTABLISHING POLICIES GOVERNING THE TRANSACTIONS 1
RELATED THERETO; AND DESIGNATING EMPLOYEES TO ACT
ON THE DISTRICT'S BEHALF FOR SAID ACCOUNTS i
I
I
I
I
WHEREAS, most financial transactions of the District involving a transfer: of
funds other than for investments, are processed by the District through accounts and
funds on deposit with the District's Treasurer; and,
WHEREAS, there are three (3) categories of transactions handled by the: District
which require daily accounting and fund transfers, to wit: (1) petty cash; (2) self-funded
worker's compensation claims; and (3) short-term investment earnings; and, !
WHEREAS, in order to properly manage these daily transactions, the District
I
needs depository accounts with banks and/or savings and loan associations.
NOW, THEREFORE, the Board of Directors of Orange County Sanitation
District,
DOES HEREBY RESOLVE, DETERMINE AND ORDER:
Section 1: That the District's Treasurer is authorized to designate, by written
directive, certain employees, or contract agents acting as District administrators for
worker's compensation claims, who are empowered to act on the District's beh~lf
relating to making deposits, issuing checks, ordering transfer of funds, and signing
bank documents related solely to those transactions. The designated employe~s or
agents shall be listed by name in the Treasurer's written directive, and may be ~hanged
from time to time at his discretion. The employees shall be the incumbents of the
following job classifications: 1
2090-300
64909_1 1
\,
!
-Treasurer
-General Manager
-Director of Finance
-Finance Manager
-Controller
-Accounting Supervisor
-Such other similar positions as
designated by the General Manager
-Such agents who act as administrators
for the District pursuant to written
agreement approved by the General
Counsel
I
I
Section 2: That the Treasurer or designated employees are authorized to
establish, in the name of the District, one or more deposit accounts with those I
depositories set forth in Section 3 below, upon such terms and conditions as may be
agreed upon with said depositories. Said accounts shall be for the purpose of handling
the transfer of funds related to the: :
II
II
II
2090-300
64909_1
I
-District's Petty Cash Fund !
-District's Self-Funded Worker's Compensation
Insurance Fund
-District's Short-Term Investment Earnings Fund
2
Section 3:
District funds:
That the following depositories are approved for the depositl of
I
I
-Union Bank of California Checking Account
No.2740013230
-Union Bank of California Worker's Compensation
AccountNo.2740013249
-Union Bank of California Sweep Investment
Account No. SW1323 ' I
I
I
Section 4: That the Treasurer or designated employees, but not the Di~trict's
I
Contract Agents, are authorized to execute Telephone Transfer Service Agreements or
Authorizations, Funds Transfer Agreements, and Funds Transfer on Oral lnstrudtion
Agreements, with any authorized depository. ·
Section 5: That all withdrawal of monies by and on behalf of the Distridt from
the authorized accounts shall be signed by any one person designated by the I
I
Treasurer in the Bank-Depositor Agreements, unless said Agreements specifically
provide for two authorized signatures. i
I
Section 6: That the authority delegated hereby to the District's Treasurer is
made to Gary G. Streed, whose signature appears after his name. I
2090-300
64909_1
Gary G. Streed
PASSED AND ADOPTED at a Special Meeting held July 1, 1998.
3
I
I