SHORELINE COMMUNITY COLLEGE
DISTRICT NUMBER SEVEN
APRIL 20, 1990
DESIGNATION OF DEPOSITORY OF COLLEGE FUNDS
Resolution No. 56
This resolution supercedes and cancels
Resolution No. 55 dated September 16, 1988
WHEREAS, Shoreline Community College District Number Seven (the College) has the authority under RCW 28.B.50, the Community College Act of 1967, and the need for a checking account and other banking services including a safe deposit box,
NOW, THEREFORE, BE IT RESOLVED by the Board of Trustees of Shoreline Community College District Number Seven that U. S. Bank of Washington, National Association, Seattle, Washington be and is hereby designated as a depository for the funds of the College, including federal funds granted to the College, and that a bank account shall be opened and kept with the said U. S. Bank of Washington in the name of Shoreline Community College, General Fund, and
BE IT FURTHER RESOLVED,
(1) That said U. S. Bank of Washington be and is hereby authorized to honor and pay checks drawn in the name of the College and signed by any two of the following College officials, including those in “Acting” capacity:
President
Vice President for Academic Affairs
Vice President for Business
Vice President for Student Services
Director of Facilities Planning and
Operations
Director of Budgeting and
Accounting
(2) That said U. S. Bank of Washington be and is authorized to cash or pay to such
Individual or individuals all checks payable to the College either as payee or endorsee upon the endorsement of said individual or individuals made in their official capacity or individually, or both,
(3) That there shall be no obligation on the part of said U. S. Bank of Washington to see to the application of funds in any case whatsoever, and
(4) That facsimile signatures of any two of the above individuals may be used for checks written by the College.
BE IT FURTHER RESOLVED that a safe deposit box may be used at said U. S.
Bank of Washington without a rental fee or on a negotiated fee basis. Access to said safe deposit box by officials of the College shall be limited to the President, Vice President for Academic Affairs, Vice President for Business, Vice President for Student Services, Director of Facilities Planning and Operations, and Director of Budgeting and Accounting.
BE IT FURTHER RESOLVED, that any of the six officials named above may, in the name of the College, invest temporary surplus funds in repurchase agreements, certificates of deposit, United States Treasury Bills and United States Treasury Notes, federal government obligations, or other securities or investments authorized by State of Washington laws for Shoreline Community College District Number Seven or other applicable State of Washington laws.
BE IT FURTHER RESOLVED that a true copy of this resolution be certified and delivered to said bank
PASSED this 20th day of April, 1990 by the Board of Trustees.
BOARD OF TRUSTEES
Susan M. Johnson, Chairman
Linda S. Johnson, Vice Chairman
ATTEST: Cherry L. Jarvis, Trustee
Irene Laegreid James E. Massart, Trustee
Secretary, Board of Trustees
Shoreline Community College
District Number Seven Cherry A. McGee Banks, Trustee