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Whereas, In negotiation with the Treasurer of the Executive Council with the officers of CitiBank to transfer overseas diocesan accounts to "NOW" Accounts, the CitiBank is requesting that the Board of Directors adopt their general resolution in place of the standard resolution permitting the Treasurer to open such accounts. In order for the dioceses to gain at least 5 1/4% interest on the NOW Accounts, the following resolution is hereby recommended for adoption:
- Resolved, That CitiBank, N.A. (hereinafter called the "Bank") be and hereby is designated a depository of the funds of this Corporation and the Treasurer and the Assistant Treasurer or person or persons designated by the Treasurer, who are to sign singly is/are hereby authorized to sign, for and on behalf of this Corporation, any and all checks, drafts or other orders with respect to any funds at any time(s) to the credit of this Corporation with the Bank and/or against any account(s) of this Corporation maintained at any time(s) with the Bank, inclusive of any such checks, drafts or other orders in favor of any of the above-designated officer(s) and/or other person(s), and/or to make withdrawals at any time(s) of any such funds or from any such account(s) by any other means authorized by the Bank, including (without limitation) a debit card, a credit card, a terminal or other device or facility providing access to any such funds or account(s), and that the Bank be and hereby is authorized (a) to pay such checks, drafts or orders, and/or to honor such withdrawals, by debiting any account(s) of this Corporation then maintained with it; (b) to receive for deposit to the credit of this Corporation, and/or for collection for the account of this Corporation, any and all checks, drafts, notes or other instruments for the payment of money, whether or not endorsed by this Corporation, which may be submitted to it for such deposit and/or collection, it being understood that each such item shall be deemed to have been unqualified endorsed by this Corporation; and (c) to receive, as the act of this Corporation, any and all stop-payment instructions (inclusive of any relative agreement) with respect to any such checks, drafts or other orders as aforesaid and reconcilement(s) of account when signed by any one or more of the officer(s) and/or other person(s) as hereinbefore designated.
- Resolved, That the Treasurer and the Assistant Treasurer or person or persons designated by the Treasurer, who are to sign singly is/are hereby authorized, for and on behalf of this Corporation, to transact any and all other business with or through the Bank which at any time(s) may be deemed by the said officer(s) and/or other person(s) transacting the same to be advisable, including, without limiting the generality of the foregoing, authority to: (a) discount and/or negotiate notes, drafts and other commercial paper; (b) apply for letters or other forms of credit; (c) borrow money, with or without security; (d) assign, transfer, pledge or otherwise hypothecate any property of the Corporation; (e) purchase, exchange, sell or otherwise deal in or with any sticks, bonds and other securities; (f) execute and deliver automated customer services and other agreements relative to performance of various computer services; and (g) in reference to any of the business or transactions hereinbefore in this subdivision "2" referred to, make, enter into, execute and deliver to the Bank such negotiable or non-negotiable instruments, indemnity and other agreements, obligations, assignments, endorsements, hypothecations, pledges, receipts and/or other documents as may be deemed by the officer(s) and/or person(s) so acting to be necessary or desirable.
- Resolved, That any and all withdrawals of money and/or other transactions heretofore had in behalf of this Corporation with the Bank are hereby ratified, confirmed and approved, and that the Bank (and any interested third party) may rely upon the authority conferred by this entire resolution unless, and except to the extent that, this resolution shall be revoked or modified by a subsequent resolution of this Board, and until a certified copy of such subsequent resolution has been received by the Bank.
- Resolved, That the Bank is further authorized to pay to the debit of any account(s) of this Corporation, any and all checks, drafts and other instruments for the payment of money drawn in the name of this Corporation bearing or purporting to bear the facsimile signature(s) of the Treasurer and the Assistant Treasurer or person or persons designated by the Treasurer, who are to sign singly inclusive of any favor of any person(s) whose facsimile signature(s) appear(s) thereon, if the facsimile signature(s) thereon, regardless of by whom or what means affixed, resemble(s) the specimen(s) thereof filed with the Bank.
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