A resolution to appoint the Town mayor and one trustee to sign note on wastewater project at first national bank on behalf of the Town of Deer Trail.
Whereas, the Town of Deer Trail ("Town"), in the County of Arapahoe and the State of Colorado, is the body corporate operating as a statutory town pursuant to the general statutes of the State of Colorado; and
Whereas, the Town is presently involved in the creation of a Wastewater System Improvements Project; and
Whereas, the Town will borrow $717,000 from the First National Bank for the Wastewater System Improvements Project at an interest rate of 4.375% with a term of one year; and
Whereas, as part of the Wastewater System Improvements Project, the Town will need to establish a checking account specifically for the disbursement of funds from the United States Department of Agriculture, Rural Development ("Rural Development"); and
Whereas, the Board of Trustees ("Board") of the Town deems that is both preferable and appropriate to appoint the Town Mayor and one Trustee to sign the note which backs up the checking account designated for disbursement of Rural Development funds; and
Whereas, the Board deems it preferable and appropriate to appoint the mayor, or in the mayor's absence, one Trustee, and the Town Clerk as authorized check signers for the account designated for disbursement of Rural Development funds; and
Whereas, the First National Bank is a state bank with its principal place of business in Strasburg, Colorado.
Now, therefore, be it resolved by the Board of Trustees of the Town of Deer Trail Colorado:
Section 1.
Appointment of Town officer to execute and file note and associated documentation.
The Mayor of the Town of Deer Trail and Trustee Harry L. Venter are hereby empowered and authorized to sign, file, and otherwise execute on behalf of the Town the note and any other documents required to establish the checking account with the First National Bank designated for disbursement of the Rural Development funds.
Section 2.
Appointment of authorized signers for the checking account.
The mayor, or in the mayor's absence, Trustee Harry L. Venter, and the Town Clerk are authorized to sign checks written on the account designated for disbursement of Rural Development funds.
Introduced, read, and adopted this seventh day of December 2004.
Beryl H. Rector, Mayor
Town of Deer Trail Colorado
Patti K. Owens, Town Clerk
Harry L. Venter, Trustee