HomeMy WebLinkAbout#5088 Region 9 MABAS 53 Team RESOLUTION NO. 5088
A RESOLUTION APPROVING THE BANK OF FARMINGTON AS THE
INVESTMENT BANK FOR THE REGION 9 MABAS 53 TECHNICAL RESCUE TEAM
FUND
WHEREAS, the Region 9 MABAS 53 Technical Rescue Team is made up of the Canton
Fire Department, Monmouth Fire Department, Macomb Fire Department and Galesburg Fire
Department.
WHEREAS, each participant in the Region 9 MABAS 53 Technical Rescue Team
contributes $1,000.00 per year to a fund for equipment maintenance and purchase.
WHEREAS, the Canton Fire Department is the controlling entity for the monies
contributed to this fund.
WHEREAS, the City of Canton Finance Department has determined and recommended
that the funds be held in its own money market account.
WHEREAS, the City of Canton Finance Department requested quotes from local banks
and credit unions for interest, fees, and regulations on money market accounts.
WHEREAS, the Bank of Farmington responded with the highest interest rate and lowest
fees of all quotes received.
WHEREAS the Finance Committee of the City of Canton, has determined that it is in the
best interests of the City of Canton to hold the Region 9 MABAS 53 Technical Rescue Team
monies that it receives from other fire departments in a money market account at the Bank of
Farmington with the interest, fees and regulations as seen in Exhibit A, attached hereto.
WHEREAS, the City Council has reached a similar determination to deposit the Region 9
MABAS 53 Technical Rescue Team monies into a money market account at the Bank of
Farmington with the terms attached hereto in Exhibit A.
NOW THEREFORE, be it resolved by the City Council of the City of Canton, Fulton
County, Illinois, as follows:
I. That the Finance Department shall open a money market account at the Bank of
Farmington with the terms attached hereto and incorporated herein as Exhibit A in the
name of"Region 9 MABAS 53 Technical Rescue Team Fund."
2. That this Resolution shall be in full force an effect immediately upon its passage by
the City Council of the City of Canton, Fulton County, Illinois and approval by the
Mayor thereof.
NLR Documents/Resolutions
3/16/2017
PASSED by the City Council of the City of Canton, Fulton County, Illinois, at a regular meeting
this 21st day of March 2017, upon a roll call vote as follows:
AYES: Aldermen Justin Nelson, Gerald Ellis,John Lovell, Angela Hale, Craig West,
Ryan Mayhew
NAYS: None
ABSENT: None
ABSTAIN: Alderman Tad Putrich
APPROVED: (�Jy���
Jeffrey A. •• , Mayor
ATTEST:
n
Diana P. rr
NLR Documents/Resolutions
3/16/7017
BANK OF FARMINGTON
2115 NORTH MAIN STREET, P.O. BOX 428
CANTON, IL 61520
TRUTH IN SAVINGS DISCLOSURE
Terms following a 0 apply Only if checked.
MctFREMIER MONEY MARKET BUSIWWII
Met 1:701 394 Frequency of rate change
Date: 3/16/9017 S We may change the Interest rate on your account at
• The interest rate and annual percentage yield stated below Dur discretion
are mourns as of the date printed above.If you would like more ❑ Your Initial interest rate will not change
current rate and yield
Information Mme call us at (3091 64n-1500
This disclosure contains the rules which govern your deposit We may change the interest rate on your account at that time
account. Unless it would be Inconsistent to do ac, words and
phrases used M this disclosure should be construed so that the andeft Pr 17-11-7016 thereafter.
singuler Includes the plural and the plural includes the singular. limitations on rate Manges
We reserve the right to at any time require not les than 0 The interest rate for your account will not
days notice In writing before any withdrawal from an interest by mon than each
bearing account.
0 The Interest rate will not be less than %
❑ FIXED RATE or more than %.
❑ The interest rate for your account Is 96 with 0 The interest rate will not
an annual percentage yield of %.We will pay
this rate the Interest rate initially disclosed to you.
We will not decrease thie rate unless we first give you at Minimum Balance Regdremente
leen 30 days notice in writing.
® To open the account. You must deposit at lust
❑ The 'Menet rete end annual percentage yield for your 05.000.00 to open this account.
account depend upon the applicable rate tier. We will pay ® To avoid imposition of fees.
these rates To avoid the imposition of the mi nl mum balance fee you
must meet She following requirements:
We will not decrease these rates unless we first give you n ® A ma n+mum ha l ance feeof 110 00
least 30 days notice In waling,
will be Imposed everyet atement ryrle
® VARIABLE RATE if the balance in the account falls below $5.000.00
IH The interest rate far your account is 0.65n% with any day of the statement curl e
an annual percentage yield of 0.65 %. Your Interest 0 A of 110 00
rate and annual percentage yield may chane. will be imposed every
® The Interest rate and annual percentage yield for your If the average daily balance for the
account depend upon the applicable rate tier. The interest fella below $ .The
rate and annual percentage yield for Mese Sera may change. average daily below.is calculated by adding the principal in
the account for each day of the period and dividing that figure
Determination of rate by the number of days in the period.
S At our discretion, we may change the Interest rate on The period we use is
your account. To avoid the Imposition of the you
❑ The interest rate for your account must meat following requirements
❑ A oft
will be imposed for
transaction (withdrawal, check paid, automatic transfer or
payment out of your account) If the balance in the account
❑ The fixed Initial rate Is not determined by this rule.
❑ The Initial Interest rate on your account falls below $ any day of the
❑ A of$
will be imposed for
transaction (withdrawal, check paid, automatic transfer or
Subsequent rates payment out of your account)if the average doily balance for
the falls below
Tut In Sevlree Disclosure Tp 711512011
eleWNW Kluwer NnMYBervIue 01902,2011 Page I an
1 .The average daily balance is calculated Transaction Limitations
by adding the principal in the account for each day of the
Period and dividing that figure by the number of days in the ❑
The minimum amount you may deposit is
Puled. 1
The period we use is ❑ The minimum amount you may withdraw ie
MI To obtain the annual percentage yield disclosed. 1
® You must maintain a minimum balance of ® During any month •
45. 000.00 in the account each day to obtain you may not make mon than 6
the dbclosed annual percentage yield. withdrawals or transfers to another account of yours or to a
❑ You must maintain a minimum average daily balance of third party by means of a pnauthorlad or automatic transfer or
i to obtain the disclosed annual telephone order or instruction, computer transfer, or by check,
percentage yank.The average daily balance is calculated by
adding the principal in the account for each day of the period draft,debit card or similar order to a third party
and dividing that figure by the number of day.in the period. ❑
The period we use I.
Compounding and Crediting
® frequency•Intercityil l be
compoundedmnnt h I y
'Merest will be credited to your account
monthly.
® Effect of closing an account If you close your account
before interest is credited, you will
receive the accrued interest.
Balance Computation Method
® Deily Balance Method. We use the daily balance method to
calculate the 'Merest on your account. This method applies s 0 You may only make deposits into your account each
daily periodic rate to the principal In the account each day.
statement cycle.
❑ Average Daily Balance Method. Ws us* the average daily 0 You may only make ATM
balance method to cabulna interest on your account. This your account sash statement cyclo.
method applies a periodic rate to the average daily balance In the
account for the period. The average daily balance is calculated 0 You may only make pietist/tensed transfers
by addingthe principal in the ac
account for eh day of the period
and dividng that figura by the number of days In the period. Your account each statement cycle.
Additional Terme
The period we use is A per check fee of $10.00 will be
Accrual of intens on noncash deposits charged for each debit transaction
❑ Interest be ins to accrue no later than the business day we (withdrawal, check paid, automatic
receive credit for the deposit of noncash hems 'for example. transfer or
checks). payment out of this account)
in excess of six (61 during a statement
® Interest begins to accrue on the business day cycle.
you deposit noncash items'for example checks).
B onuses
❑ You will
as a bonus
❑ You must maintain a minimum
of a
to obtain the bonus.
❑ To earn the bonus.
B .s$Vni1wwa,r. Tse rnsno,l.*r .esu
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Terms and Conditions of Your Account
Agreement. This document, along with any other any additional reasonable charges for services you request
documents we give you pertaining to your a count(s),is a which are not covered by this agreement.
contract that establishes rules which control your account(s) Bach of you also agrees to be jointly and severally
with us. Please read this carefully and retain it for future (individually)liable for any account shortage resulting from
reference. If you sign the signature card or open or continue charges or overdrafts, whether caused by you or another
to use the account,you agree to these rules. You will with access to this account. This liability is due
receive a separate schedule of rates, qualifying balances, and immediately, and can be deducted directly from the account
fees if they are not included in this document. If you have balance whenever sufficient funds are available. You have
any questions,please call us. no right to defer payment of this liability, and you are liable
This agreement is subject to applicable federal laws, the regardless of whether you signed the item or benefited from
laws of the state of Illinois and other applicable rules such as the charge or overdraft.
the operating letters of the Federal Reserve Banks and You will be liable for our costs as well as for our reasonable
payment processing system rules(except to the extent that attorneys' fees, to the extent permitted by law, whether
this agreement can and does vary such rules or laws). The incurred as a result of collection or in any other dispute
body of state and federal law that governs our relationship involving your account. This includes, but Is not limited to,
with you, however, is too large and complex to be disputes between you and another joint owner; you and an
reproduced here, The purpose of this document is to: authorized signer or similar party; or a third party claiming
1. summarize some laws that apply to common an interest in your account. This also includes any action
transactions; that you or a third party takes regarding the account that
2. establish rules to cover transactions or events which the causes us,in good faith, to seek the advice of an attorney,
law does not regulate; whether or not we become involved in the dispute. All costs
3. establish rules for cettain transactions or events which and attorneys' fees can be deducted from your account when
the law regulates but permits variation by agreement; they are incurred, without notice to you.
and Deposits. We will give only provisional credit wail
4. give you disclosures of some of our policies to which collection is final for any items,other than cash, we accept
you may be entitled or in which you may he interested. for deposit(including items drawn "on us"). Before
If any provision of this document is found to be settlement of any item becomes final, we act only as your
unenforceable according to its terms, all remaining agent, regardless of the form of Indorsement or lack of
provisions will continue in full force and effect. We may indorsement on the item and even though we provide you
permit sane variations from our standard agreement, hut we provisional credit for the item. We may reverse any
must agree to any variation in writing either on the signature provisional credit for items that are lost, stolen, or returned,
card for your account or in some other document. Actual credit for deposits of, or payable in, foreign currency
will be at the exchange rate in effect on final collection in
As used in this document the words "we," "our," and "us" U.S. dollars. We are not responsible for transactions by
mean the financial institution and the words "you" and mail or outside depository until we actually record them.
"your" mean the account holders)and anyone else with the We will treat and record all transactions received after our
authority to deposit, withdraw, or exercise control over the "daily cutoff time" on a business day we are open,or
funds in the account. However, this agreement does not received on a day we are not open for business, as if
intend, and the terms "you' and "your" should not be initiated on the next business day that we are open. At our
interpreted, to expand an individual's responsibility for an option, we may take an item for collection rather than for
organization's liability. If this account is owned by a deposit. If we accept a third-party check for deposit, we
corporation,partnership or other organization, individual may require any third-party indorsers to verily or guarantee
liability is determined by the laws generally applicable to their indorsements, or indorse in our presence.
that type of organization. The headings in this document arc Withdrawals.for convenience or reference only and will not govern the
interpretation of the provisions. Unless it would be Generally. Unless clearly indicated otherwise on the
inconsistent to do so, words and phrases used in this account records, any of you, acting alone, who sips to
document should be construed so the singular includes the open the account or has authority to make withdrawals
plural and the plural includes the singular. may withdraw or transfer all or any pan of the account
Doherty. You agree, for yourself(and the person or entity balance at any time. Each of you(until we receive
you represent if you sign as a representative of another)to written notice to the contrary)authorizes each other
the terms of this account and the schedule of charges. You person who signs or has authority to make withdrawals
authorize us to deduct these charges, without notice to you, to indorse any item payable to you or your order for
directly front the account balance as accrued. You will pay deposit to this account or any other transaction with us.
Tams en2<adtionNL
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Postdated Checks. A postdated check is one which how frequently or under what circumstances we have
bears a date later than the date on which the check is paid overdrafts on your account in the past. We can
written. We may properly pay and charge your account change our practice of paying overdrafts on your account
for a postdated check even though payment was made without notice to you. You can ask us if we have other
before the date of the check, unless we have received account services that might be available to you where we
written entice of the postdating in time to have a commit to paying overdrafts under certain circumstances,
reasonable opportunity to act. Because we process checks such as an overdraft protection line-of-credit or a plan to
mechanically, your notice will not be effective and we sweep funds from another account you have with us.
will not be liable for failing to honor your notice unless You agree that we may charge fees for overdrafts. For
it precisely identifies the number, date, amount and consumer accounts, we will not charge fees for
payee of the item. overdrafts causal by ATM withdrawals or one-time debit
Checks and Withdrawal Rules. Ifyou do not card transactions if you have not opted-in to that service.
your check blanks from us, must be certain We may use subsequent deposits,orother
vrng direct
purchaseyouto cdepover of social draftita nerd aftgovernment. benefits,
that wny aor byou purchase.h Weomay to cover such overdrafts and overdraft fees.
refuse any withdrawal or transfer request which you
attempt on forms not approved by us or by any method Multiple Signatures, Electronic Check Conversion,
we do not specifically permit. We may refuse any and Similar Transactions. An electronic check
withdrawal or transfer request which is greater in conversion transaction is a transaction where a check or
number than the frequency permitted, or which is for an similar item is converted into an electronic fund transfer
amount greater or less than any withdrawal limitations. as defined in the Electronic Fund Transfers regulation.
We will use the date the transaction is completed by us In these types of transactions the check or similar item is
(as opposed to the date you initiate it)to apply the either removed from circulation(truncated)or given
frequency limitations. In addition, we may place back to you. As a result, we have no opportunity to
limitations on the account until your identity is verified. review the check to examine the signatures on the item,
Even if we honor a nonconforming request, are not You agree that, as to these or any items as to which we
violate the s, weet have no opportunity to examine the signatures, you
required to do so laterIf you
transaction limitations (if any), in our discretion we may waive any requirement of multiple signatures.
close your account or reclassify it as a transaction Notice of Withdrawal. We reserve the right to require
account. If we reclassify your account, your account will not less than 7 days' notice in writing before each
be subject to the fees and earnings rules of the new withdrawal from an interest-bearing account other than a
account classification. time deposit, or from any other savings account as
If we are presented with an item drawn against your defined by Regulation D. (The law requires us to reserve
account that would be a "substitute check,' as defined by this right, but it is not our general policy to use it.)
law, but for an error or defect in the item introduced in Withdrawals from a time account prior to maturity or
the substitute cheek creation process, you agree that we prior to any notice period may be restricted and may be
may pay such item. subject to penalty. See your notice of penalty for early
withdrawal.
See the tondo availability policy disclosure for Ownership of Account and Beneficiary
information about when you can withdraw funds you Designation. These rides apply to this account depending
deposit. For those accounts to which our fulls on the form of ownership and beneficiary designation, if
availability policy disclosure does not apply, you can ask
us when you make a deposit when those funds will be any, specified on the account records. We make no
available for witha de . We may determine the amount representations as to the appropriateness or effect of the
ownership and beneficiary designations,
of available fus in your account for the purpose of he except as they
funds
deciding whether to return an item for insufficient funds determine to whom we pay the account funds.
at any dine between the time we receive the item and Individual Account.This is an account in the name of
when we return the item or send a notice in lieu of one person.
return. We need only make one determination, but if we Joint Account • With Survivorship (And Na[As
choose to make a subsequent determination, the account
balance at the subsequent time will determine whether Tenants In Common). This Is an account in the name of
there are insufficient available funds. two or more persons. Each of you intend that when you
at our
Overdrafts. You understand that we may, die the balance in the account(subject to any previous
ypledge to which we have agreed)will belong to the
discretion, honor withdrawal requests that overdraw your survivor(s). If two or more of you survive,you will
account. However, the fact that we may honor own the balance in the account as joint tenants with
withdrawal requests that overdraw the account balance survivorship and not as tenants in common.
does not obligate us to do so later. So you can NOT rely
on us to pay overdrafts on your account regardless of
terms em ewwonwIL
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Joint Account - No Survivorship (As Tenants hi payment order expires. A release of the stop-payment
Common). This is owned by two or more persons, but request may be made only by the person who initialed the
none of you intend(merely by opening this account)to stop-payment order.
create any right of survivorship in any other person. We If you stop payment on an item and we incur any damages
encourage you to agree and tell us in writing of the or expenses because of the stop payment, you agree to
percentage of the deposit contributed by each of you. indemnify us for those damages or expenses,including
This information will not, however, affect the "number attorneys' fees. You assign to us all rights against the payee
of signatures" necessary for withdrawal. or any other holder of the item. You agree to cooperate with
Revocable Trust or Pay-On-Death Account. if two us in any legal actions that we may take against such
or more of you create this type of account, you own the persons. You should be aware that anyone holding the item
account jointly with survivorship, Beneficiaries of either may he entitled to enforce payment against you despite the
of these account types cannot withdraw unless: (1)all stop-payment order.
persons creating the account die, and(2) the beneficiary our slop-payment cutoff time is one hour after the opening
is then living. If two or more beneficiaries are named of the next banking day after the banking day on which we
and survive the death of the owner(s)of the account, receive the item. Additional limitations on our obligation to
such beneficiaries will own this account in equal shares, stop payment are provided by law(e.g., we paid the item in
without right of survivorship. The person(s)creating cash or we certified the item).
either a Pay-On-Death or Revocable Trust account
reserves the right to: (1)change beneficiaries, (2) Telephone Transfers. A telephone transfer of funds from
change account types, and(3) withdraw all or part of the this account to another account with us, if otherwise
account funds at any time. arranged for or permitted, may be made by the same
persons and under the same conditions generally applicable
Business, Organization and Association to withdrawals made in writing. Unless a different limitation
Accounts. Earnings in the form of interest,dividends, or is disclosed in writing, we restrict the number of transfers
credits will he paid only on collected funds, unless from a savings account to another account or to third
otherwise provided by law or our policy. You represent that parties, to a maximum of six per month(less the number of
you have the authority to open and conduct business on this "preauthorized transfers"during the month). Other account
account on behalf of the entity. We may require the transfer restrictions may be described elsewhere.
governing body of die entity opening the account to give us
a separate authorization telling us who is authorized to act Amendments and Termination. We may change any
on its behalf. We will honor the authorization until we term of this agreement. Rules governing changes in Interest
actually receive written notice of a change from the rates are provided separately in the Truth-in-Savings
governing body of the entity. disclosure or in another document. For other changes, we
will give you reasonable notice in writing or by any other
Stop Payments. Unless otherwise provided,the rules in method permitted by law. We may also close this account at
this section cover stopping payment of items such as checks any time upon reasonable notice to you and tender of the
and drafts. Rules for slopping payment of other types of account balance personally or by mail. Items presented for
transfers of hinds, such as consumer electronic fund payment after the account is closed may be dishonored.
transfers, may be established by law or our policy. If we When you close your summit you are responsible for
have not disclosed these rules to you elsewhere, you may leaving enough money in the account to cover any
ask us about those rules. outstanding items to be paid front the account. Reasonable
We may accept an order to stop payment on any item front notice depends on the circumstances, and in some cases such
any one of you. You must make any stop-payment order in as when we cannot verify your identity or we suspect fraud,
the manner required by law and we must receive it in time it might be reasonable for us to give you notice after the
to give us a reasonable opportunity to act on it before our change or account closure becomes effective. For instance,
stop-payment cutoff time. Because stop-payment orders are if we suspect fraudulent activity with respect to your
handled by computers, to he effective, your stop-payment account, we might immediately freeze or close your account
order must precisely identify the number,date, and amount and then give you notice. You agree to keep us informed of
of the item, and the payee. your current address at all times. Notice from us to any one
of you is notice to all of you. If we have notified you of a
You may stop payment on any item drawn on your account change in any term of your account and you continue to
whether you sign the item or not Generally, if your stop- have your account after the effective date of the change, you
payment order is given to us in writing it is effective for six have agreed to the new term(s).
months. Your order will lapse atter that time if you do not Statements.
renew the order in writing before the end of the six-month
period. If the original stop-payment order was verbal your Your Duty to Report Unauthorized Signatures,
stop-payment order will lapse ager 14 calendar days if you Alterations and Forgeries. You must examine your
do not confirm your order in writing within that time statement of account with "reasonable promptness." If
period. We are not obligated to notify you when a stop- you discover(or reasonably should have discovered)any
TSeamy win*S Codllbmll cul t140/2013WaltoWaltonKY .,FFln.n}M S.rvin.°200B,2012 PK.3 et 7
unauthorized signatures or alterations, you must use any other legal remedy to recover the amount of our
promptly notily us of the relevant facts. As between you liability.
and us, if you fail to do either of these duties,you will Temporary Account Agreement. If this option is
have to either share the loss with us, or bear the loss selected, this is a temporary account agreement. Each
entirely yourself(depending on whether we used
ordinary care and, if not, whether we substantially person who signs to open the account or has authority to
contributed to the loss). The loss could be not only with make withdrawals (except as indicated to the contrary)may
respect to items on the statement but other items with tIn business re this account. However, we may at sane
unauthorized signatures or alterations by the same time in We future restrict or prohibit further use of this
wrongdoer account if you fail to comply with the requirements we have
imposed within a reasonable time.
You agree that the time you have to examine your Set-Off. We may (without prior notice and when permitted
statement and report to us will depend on the by law)set off the fume in this account against any due and
circumstances, but will not, in any circumstance, exceed payable debt you owe us now or in the future,by any of
a total of 30 days from when the statement is first sent you having the right of withdrawal, to the extent of such
or made available to you. persons' or legal entity's right to withdraw. If the debt
You further agree that if you fail to report any arises from a note, "any due and payable debt" includes the
unauthorized signatures, alterations or forgeries in your total amount of which we are entitled to demand payment
account within 60 days of when we first send or make under the terms of the note at the time we set off,including
the statement available, you cannot assert a claim against any balance the due date for which we properly accelerate
us on any items in that statement, and as between you under the note.
and us the loss will be entirely yours. This 60-day This right of set-off does not apply to this account if
limitation is without regard to whether we used ordinary prohibited by law, For example, the right of set-off does not
care. The limitation in this paragraph is in addition to apply to this account if: (a)it is an Individual Retirement
that contained in the first paragraph of this section. Account or similar tax-deferred account, or(b)the debt is
Your Duty to Report Other Errors. In addition to created by a consumer credit transaction under a credit card
your duty to review your statements for unauthorized Plan(but this does not affect our rights under any
signatures,alterations and forgeries,you agree to consensual security interest), or(c)the debtor's right of
examine your statement with reasonable promptness for
withdrawal only arises in a representative when capacity. We will
any other error-such as an encoding error. You agree not be liable for the dishonor of any checkthe
that the time you have to examine your statement am dishonor occurs because we set off a debt against this
report to us will depend on the circumstances. However, account. You agree to hold us harmless from any claimsuch time period shall not exceed 60 days. Failure to arising as a result of our exercise of our right of set-off.
examine your statement and report any such errors to us Check Processing. We process items mechanically by
within 60 days of when we first send or make the relying solely on the information encoded in magnetic ink
statement available precludes you from asserting a claim along the bottom of the items. This means that we do not
against us for any such errors on items identified in that individually examine all of your items to determine if the
statement and as between you and us the loss will be item is properly completed, signed and indorsed or to
entirely yours. determine if it contains any information other than what is
Errors Relating to Electronic Fund Transfers or encoded in magnetic ink, You agree that we have not failed
Substitute Checks (For consumer accounts only). For to exercise ordinary care solely because we use our
information on errors relating to electronic fund automated system to process items and do not inspect all
transfers(e.g., computer, debit card or ATM items processed in such a manner. Using an automated
process helps us keep costs down for you and
transactions)refer to your Electronic Fund Transfers all account
disclosure and the sections on consumer liability and holders.
error resolution. For information on errors relating to a Check Cashing. We may charge a fee for anyone that does
substitute check you received, refer to your disclosure not have an account with us who is cashing a check,draft or
entitled Substitute Checks and Your Rights. other instrument written on your account. We may also
Direct Deposits. If we are required for any reason to require reasonable identification to cash such a check, draft
oreimburse the federal government for all or any portion of a e
rother instrument. We can decide what identification is
benefit payment that was directly deposited into your reasonable under the circumstances and such identification
account, you authorize us to deduct the amount of our a thumbprintay documentary or or physical and may include collecting
liability to the U.S. Government from the account or from a or fingerprint.
any other account you have with us, without prior notice Truncation, Substitute Checks, end Other Check
and at any time, except as prohibited by law. We may also Images. If you truncate an original check and create a
substitute check, or other paper or electronic image of the
original check, you warrant that no one will be asked to
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make payment on the original check, a substitute check or institution may rely on the identifying number to make
any other electronic or paper image, if the payment payment. We may rely on the number even if it identifies a
obligation relating to the original check has already been financial institution, person or account other than the one
paid. You also warrant that any substitute check you create named, You agree to be bound by automated clearing house
conforms to the legal requirements and generally accepted association rules. These rules provide, among other things,
specifications for substitute checks. You agree to retain the that payments made to you, or originated by you, are
original check in conformance with our internal policy for provisional until final settlement is made through a Federal
retaining original checks. You agree to indemnify us for any Reserve Bank or payment is otherwise made as provided in
loss we may incur as a result of any truncated check Article 4A-403(a)of the Uniform Commercial Code. If we
transaction you initiate, We can refuse to accept substitute do not receive such payment, we are entitled to a refund
checks that have not previously been warranted by a bank or from you in the amount credited to your account and the
other financial institution in conformance with the Check 21 party originating such payment will not he considered to
Act. Unless specifically stated in a separate agreement have paid the amount so credited. If we receive a payment
between you and us, we do not have to accept any other order to credit an account you have with us by wire or
electronic or paper image of an original check. ACH, we are not required to give you any notice of the
Remotely Created Checks. Like any standard check or
payment order or credit.
draft, a remotely created check(sometimes called a Facsimile Signatures. Unless you make advance
teiecheck, preauthorized draft or demand draft)is a check or arrangements with us, we have no obligation to honor
draft that can be used to withdraw money from an account. facsimile signatures on your checks or other orders. If we
Unlike a typical check or draft, however, a remotely created do agree to honor items containing facsimile signatures, you
check is not issued by the paying bank and does not contain authorize us, at any time, to charge you for all checks,
the signature of the account owner(or a signature purported drafts, or other orders, for the payment of money, that are
to be the signature of the account owner). In place of a drawn on us. You give us this authority regardless of by
signature, the check usually has a statement that the owner whom or by what means the facsimile signature(s)may have
authorized the check or has the owner's name typed or been affixed so long as they resemble the facsimile signature
printed on the signature line. For example, if a person specimen filed with us, and contain the required number of
provides an account number in response to a telephone signatures for this purpose. You must notify us at once if
solicitation, the telephone solicitor can use the account you suspect that your facsimile signature is being or has
number to issue a remotely created check to withdraw been misused.
money from that account. Convenience Depositor (Individual Accounts oily). A
You warrant and agree to the following for every remotely single individual is the owner. The convenience depositor S
created check we receive from you for deposit or collection: merely designated to conduct transactions on the owner's
(I)you have received express and verifiable authorization to behalf. The owner does in give up any rights to act on the
create the check in the amount and to the payee that appears account, and the convenience depositor may not in any
on the check; (2)you will maintain proof of the manner affect the rights of the owner or beneficiaries, if
authorization for at least 2 years from the date of the any, other than by withdrawing funds from the account. The
authorization,and supply us the proof if we ask; and(3)if a owner is responsible for any transactions of the convenience
check is returned you owe us the amount of the check, depositor. We undertake no obligation to monitor
regardless of when the check is returned. We may take transactions to determine that they are on the owner's
funds from your account to pay the amount you owe us, and behalf. The owner may terminate the authorization at any
if there are insufficient funds in your account, you still owe time, and the authorization is automatically terminated by
us the remaining balance. the death of the owner. However, we may continue to honor
Unlawful Internet GamblingNotice. Restricted the transactions of the convenience depositor until: (a)we
have received written notice or have actual knowledge of the
transactions as defined in Federal Reserve Regulation GG termination of authority, and(b) we have a reasonable
are prohibited front being processed through this account or opportunity to act on that notice or knowledge. We may
relationship. Restricted transactions generally include, but refuse to accept a convenience depositor.
are not limited to, those in which credit, electronic fund
transfers, checks, or drafts are knowingly accepted by Restrictive Legends. The automated processing of the
gambling businesses in connection with the participation by large volume of checks we receive prevents us from
others in unlawful Internet gambling. inspecting or looking for special instructions or"restrictive
ACH and Wire This is subject to legends" on every check. Examples of restrictive legends
Article4Aof the Transfers.asrn CThis agreementcial Code-Fund placed on checks are "must he presented within 90 days" or
Transfers as adopted in the state in which you have your not ore for more ono$1,000.00.any restrictive
For Wind reason,platwe
n
account with us. If you originate a fund transfer and you are not required to less any in rit writing to the
identifybyname and number a beneficiaryfinancial checks you write unless whave agreedfor in losses,
l s
strestriction We are not responsible for any claims,
institution, an intermediary financial institution or a
beneficiary, we and every receiving or beneficiary financial
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WaSysteme' cul 4/30(20,3
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Kluwer Fn.Ciel Service•3001,.2012 r•gs 5 of 7
damages, or expenses that result from your placement of account(s)dies or becomes legally incompetent. We may
these or other special instructions on your checks. continue to honor your checks, items, and instructions until:
Account Transfer. This account may not be transferred or (a)we know of your death or incompetence, and(b)we
Account
without ow is accountitten may
have had a reasonable opportunity to act on that knowledge.
You agree that we may pay or certify checks drawn on or
Indorsements. We may accept for deposit any item before the date of death or legal incompetence for up to ten
payable to you or your order, even if they are not indorsed (10)days after your death or legal incompetence unless
by you. We may give cash back to any one of you. We may ordered to stop payment by someone claiming an interest in
supply any missing indorsemem(s)for any item we accept the account.
for deposit or collection, and you warrant that all Fiduciary Accounts. Accountsmay be openedbya person
indorsements are genuine.
acting in a fiduciary capacity. A fiduciary is someone who Is
To ensure that your check or share draft is processed appointed to act on behalf of and for the benefit of another.
without delay, you must indorse it (sign it on the back)in a This account may be opened and maintained by a person or
specific area. Your entire indorsement(whether a signature persons named as a trustee under a written trust agreement,
or a stamp)along with any other indorsement information or as executors, administrators, or conservators under court
(e.g., additional indorsements, ID information, driver's orders. You understand that by merely opening such an
license number,etc.)must fall within 1 1/2"of the "trailing account, we are not acting in the capacity of a trustee in
edge" of a check. Indorsements must be made in blue or connection with the trust nor do we undertake any obligation
black ink, so that they are readable by automated check to monitor or enforce the terms of the trust or letters.
processing equipment. Credit Verification. You agree that we may verify credit
As you look at the front of a check, the "trailing edge" is and employment history by any necessary means, including
the left edge, When you flip the check over, be sure to keep preparation of a credit report by a credit reporting agency.
all indorsement information within 1 1/2" of that edge. Legal Actions Affecting Your Account. If we are served
Hwa 7654 with a subpoena, restraining order, writ of attachment or
MM0 ...car,sus. —rot_ execution, levy, garnishment, search warrant, or similar
P.v out s_ order relating to your account(termed "legal action" in this
° mar, section), we will comply with that legal action. Or, in our
Barr,Name discretion, we may freeze the assets in the account and not
and nonan allow any payments out of the account until a final court
Memo determination regarding the legal action. We may do these
0171551 Hi 94 96 5% things even if the legal action involves less than all of you.
$ FRONT OF CHECK In these cases, we will not have any liability to you if there
are insufficient funds to pay your items because we have
TRAILING EWE withdrawn funds from your account or in any way restricted
rota INOORBEMEN7 sxa7 access to your funds in accordance with the legal action.
r BE wimor scum Any fees or expenses we incur in responding to any legal
action(including, without limitation, attorneys' fees and our
internal expenses)may be charged against your account.
The list of fees applicable to your account(s)provided
elsewhere may specify additional fees that we may charge
f"^''-4.4 Nap el!he0nis for certain legal actions.
Security. It is your responsibility to protect the account
numbers and electronic access devices (e.g., an ATM card)
we provide you for your account(s). Do net discuss,
escKacHfcK
It is important that you confine the indorsement information compare, or share information about your account
to this area since the remaining blank space will be used by mumber(s)with anyone unless you are willing to give them
others in the processing of the check to place additional full use of your money. An account number can be used by
needed indorsements and information. You agree that you thieves to encode your number on a false demand draft
will indemnify, defend, and hold us harmless for any loss, which looks like and functions like an authorized check. If
liability, damage or expense that occurs because your you furnish your access device and grant actual authority to
indorsement, another indorsement, or information you have make transfers to another person(a family member or
printed on the back of the check obscures our indorsement. coworker, for example)who then exceeds that authority,
These indorsement guidelines apply to both personal and you are liable for the transfers unless we have been notified
business checks. that transfers by that person are no longer authorized. Your
account number can also be used to electronically remove
Death or Incompetence. You agree to notify us promptly money from your account. If you provide your account
if any person with a right to withdraw funds from your number in response to a telephone solicitation for the
Tama.N CorWKur.'IS
BxYr.Sv"lST^ TCX 640/1013
W. .rs 4.m'.r FMTW Serving 42009,2012 Pp.6 N 7
purpose of making a transfer(to purchase a service or Address or Name Changes. You are responsible for
merchandise, for example), payment can be made from your notifying us of any change in your address or your name.
account even though you did not contact us directly and Unless we egret otherwise, change of address or name must
order the payment. You must also take precaution in be made in writing by at least one of the account holders.
safeguarding your blank checks. Notify us at once if you Informing us of your address or name change on a check
believe your checks have been lost or stolen. As between reorder form is not sufficient. We will attempt to
you and us, If you are negligent In safeguarding your communicate with you only by use of the most recent
checks, you must bear the loss entirely yourself or share the address you have provided to us. If provided elsewhere,we
loss with us(we may have to share sane of the loss if we may impose a service fee if we attempt to locate you.
failed to use ordinary care and if we substantially Resolving Account Disputes. We may place an
contributed to the loss). administrative hold on the funds in your account(rehae
You agree that if we offer you services appropriate for your payment or withdrawal of the funds)ti'it becomes subject to
account to help identify and limit fraud or other a claim adverse to (1)your own interest;(2)others claiming
unauthorized transactions against your account, such as an interest as survivors or beneficiaries of your account; or
positive pay or commercially reasonable security (3) a claim arising by operation of law. The hold may he
procedures, and you reject those services,you will be placed for such period of time as we believe reasonably
responsible for any fraudulent or unauthorized transactions necessary to allow a legal proceeding to determine the
which could have been prevented by the services we merits of the claim or until we receive evidence satisfactory
offered,unless we acted in bad faith or to the extent our to us that the dispute has been resolved. We will not be
negligence contributed to the loss. liable for any items that are dishonored as a consequence of
Telephonic Instructions. Unless required by law or we
placing a hold on funds in your account for these reasons.
have agreed otherwise in writing, we arc not required to act Waiver of Notices. You waive any notice of non-payment,
upon instructions you give us via facsimile transmission or dishonor or protest regarding any items credited to or
leave by voice mail or on a telephone answering machine. charged against your account.
Claim of Loss. If you claim a credit or refund because of a Additional Terms.
forgery, thermion, or any other unauthorized withdrawal,
you agree to cooperate with us in the Investigation of the
loss, including giving us an affidavit containing whatever
reasonable information we require concerning your account,
the transaction, and the circumstances surrounding the loss.
You will notify law enforcement authorities of any criminal
act related to the claim of lost, missing,or stolen checks or
unauthorized withdrawals. We will have a reasonable period
of time to investigate the fails and circumstances
surrounding any claim of loss. Unless we have acted in bad
faith, we will not be liable for special or consequential
damages, including loss of profits or opportunity,or for
attorneys' fees incurred by you. You agree that you will not
waive any rights you have to recover your loss against
anyone who is obligated to repay, insure,or otherwise
reimburse you for your loss. You will pursue your rights
or, at our option, assign them to us so that we may pursue
them. Our liability will be reduced by the amount you
recover or are entitled to recover from these other sources.
Early Withdrawal Penalties (and involuntary
withdrawals). We may impose early withdrawal penalties on
a withdrawal from a time account even if you don't initiate
the withdrawal. For instance, the early withdrawal penalty
may be imposed if the withdrawal is caused by our setoff
against funds in the account or as a result of an attachment
or other legal process. We may close your account and
impose the early withdrawal penalty on the entire account
balance in the event of a partial early withdrawal. See your
notice of penalty for early withdrawals for additional
information.
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Wolin aL rMantltl Bovine•2000.0014 Pan)b
City of Canton General Fund Bids
Amount=$34,267.61
Purpose=Bank Account for placement of Technical Rescue Funds
Financial Institution Proposals
&WIkNI®i Bats Account Service Fees Account Type
Ipava State Bank 0.50% None Money Market
Bank Name Bats Account$ervi.r uses Account Type
Bank of Farmington 0.65% None Money Market
Bank Name Bate Account Service Fees Account Tv'@
Triumph 0.50% None if above 4500 Money Market 1
Bank Name Bets Account Service Fees Account Type
Mid America 0.10% None Now Account
Banc Name Bats Account Service Fees Account Type
CEFCU 0.15% None Savings+Dividend Checking
Bank Name Bats Account ServiceFees Account Type
Wells Fargo (No response)