HomeMy WebLinkAboutOrdinance #4502- Amending Title 1, Chapter 13, Section 1 (City Depositories) of the Canton Municipal Code ORDINANCE NO. 4502
AN ORDINANCE AMENDING TITLE 1, CHAPTER 13, SECTION 1
(CITY DEPOSITORIES)
OF THE CANTON MUNICIPAL CODE
WHEREAS, the City of Canton, Fulton County, Illinois (the "City") is an Illinois non-
home rule municipal corporation, established in accordance with the constitution of the State of
Illinois of 1970;
WHEREAS,the City's Federal Employer I.D. Number is : 37-6000876;
WHEREAS, on February 15, 2022, the City adopted Ordinance No. 4278, designating
official depositories of the City, which included Ipava State Bank;
WHEREAS, due to the appointment of Paula J. Grigsby as Acting Treasurer, Ipava State
Bank is in need of a new resolution indicating those agents with the appropriate authority to
exercise certain financial powers on behalf of the City.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF CANTON, FULTON COUNTY, ILLINOIS AS FOLLOWS:
Section 1. That the City hereby finds as fact the recitals set forth above and incorporates said
recitals herein as though fully set forth.
Section 2. That Ipava State Bank remains designated as an official depository of the city in which
the City Treasurer is hereby directed to deposit all monies and funds from all accounts unless
otherwise authorized by the city council.
Section 3. Any agent listed below (an "Agent"), subject to any written limitations, is authorized
to exercise the powers as indicated in Section 4:
Kent A. McDowell, Mayor Signature:
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Paula J. Grigsby, Acting Treasurer Signature:
Andrea J. Smith-Walters, City Clerk Signature:
Section 4. The following powers,as set forth below,are granted to the Agents as indicated below:
(A) Open any deposit or share account(s) in the name of the City with Ipava State Bank.
Paula J. Grigsby,Acting Treasurer Number of Signatures Required: 1
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(B)Endorse checks and orders for the payment of money or otherwise withdraw or transfer
funds on deposit with Ipava State Bank.
Kent A. McDowell, Mayor Number of Signatures Required: 2
Paula J. Grigsby, Acting Treasurer
Andrea J. Smith-Walters, City Clerk
(C)Borrow money on behalf and in the name of the Corporation, sign, execute and deliver
promissory notes or other evidences of indebtedness.
Kent A. McDowell, Mayor Number of Signatures Required: 2
Andrea J. Smith-Walters, City Clerk
(D)Endorse, assign, transfer, mortgage or pledge bills receivable, warehouse receipts, bills of
lading, stocks, bonds, real estate or other property now owned or hereafter owned or
acquired by the City as security for sums borrowed, and to discount the same,
unconditionally guarantee payment of all bills received, negotiated or discounted and to
waive demand,presentment, protest, notice of protest and notice of non-payment.
Kent A. McDowell, Mayor Number of Signatures Required: 2
Paula J. Grigsby, Acting Treasurer
(E)Enter into a written lease for the purpose of renting,maintaining,accessing and terminating
a Safe Deposit Box at Ipava State Bank.
Kent A. McDowell, Mayor Number of Signatures Required: 2
Paula J. Grigsby, Acting Treasurer
Section 5. All transactions, if any, with respect to any deposits, withdrawals, rediscounts and
borrowings by or on behalf of the City with Ipava State Bank prior to the adoption of this
Resolution are hereby ratified, approved and confirmed.
Section 6.That all resolutions or parts thereof in conflict with this Resolution are hereby expressly
repealed.
Section 7. If any part or parts of this Resolution shall be held to be unconstitutional or otherwise
invalid, such unconstitutionality or invalidity shall not affect the validity of the remaining
provisions of this Resolution
Section 8. That this Resolution shall be in full force and effect from and after its passage and
approval as provided by law.
PASSED THIS 16'h day of September, 2025.
AYES: Alderpersons Chamberlin, Grimm,Nelson, Lovell, Hale, Pickel, Ketcham, Gossett
NAYS: None
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ABSENT: None
APPROVED THIS 161h day of September, 2025.
Kent A. cDow , Mayor
ATT
An ea J. Smith- alters, City Clerk
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