HomeMy WebLinkAboutCC RES 84-103.
RESOLUTION N0. 84-103
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PALM DESERT, CALIFORNZA, AUTHORIZING THE APPLICATION
FOR A CITY CREDIT CARD AND SIGNATURES THEREFOR.
WHEREAS, it is desirous for the City of Palm Desert, California,
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to obtain a credit card for the purchase of items usually paid for
�vith cash;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Palm Desert, California, as follows:
Section 1: That the City Clerk be authorized and hereby
directed to execute Exhibit "A", attached hereto and made a part
hereof .
Section 2: That the Mayor is hereby authorized and directed
to execute Exhibit "B", attached hereto and made a part hereof.
Section 3: Said credit card shall be issued at a limit of
$500 and kept in the safe by the Director of Finance for petty cash
purchases of food/supplies for various Council events.
PASSED, APPROVED, and ADOPTED by the City Council of the City of
Palm Desert, California, this 26th day of Ju1y, 1984, by the following
vote, to wit:
AYES: JACKSON, KELLY, PULUQI, WILSON & SNYDER
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
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ATTEST:
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� HE . L E
CITY OF PALM DESE , CALIFORNIA
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EXHIEIT "A"
��7RPORATE RESOLUTION TO OBTi `�
:,REDIT CARD ACCOMMODATION,
WHEREAS, this corporation CITY OF PAIM DESERT , desires to obtain financial accommodation from
SECURITY PACIFIC NATIONAL BANK (hereinafter called "Bank"), pursuant to the use of a number of Bank's Credit Cards by the
officers and agents of this corporation; and
WHEREAS, this corporation intends to authorize its officers and agents to use such Credit Cards for and in connection with corporate
business; and
WHEREAS, this corporation desires that such Credit Cards be issued �n the name(s) of officers and agents to be designated to Bank by
this corporation and that all indebtedness incurred through the use of such Credit Cards or any of them be cfiarged directly to this
corporation; and �
lHEREAS, Bank will not extend such accommodations by issuing such Credit Cards unless this corporation agrees to aswme sole
�sponsibility for the use of such Credit Cards or any of them, and to pay Bank for all indebtedness incurred by use of such Credit Cards
r any of them, whether such use or indebtedness was authorized or unauthorized by this corporation.
NOW, THEREFORE, be it resolved that this corporation apply to Bank for the issuance of Credit Cards in the name(s) of officers and
agents of this corporation.
RESOLVED FURTHER, that this corporation agrees to assume sole responsibility for the use of such Credit Cards or any of them, and
to pay Bank for all indebtedness incurred by use of such Credit Cards or any of them, whether such use or indebtedness was authorized
or unauthorized by this corporation.
RESOLVED FURTHER, that the CITY COLTNCIL of this corporation is authorized to designate to which officers
and agents of this corporetion C�edit Cards are initially to be issued, and to make additions to or deletions from such list of officers and
agents authorized to use such Credit Cards and to so notify Bank in writing. In the case of additions, such notice to Bank shall authorize
Bank to issue such Credit Cards in the names of said additional officers and agents. In the case of deletions, this corporation shall be
liable for the use of such Credit Cards or any of them until said Credit Cards or any of them are returned to Bank or Bank is notified of
the loss or theft of said Credit Cards or any of them.
RESOLVED FURTHER, that Bank is authorized to act upon this resolution until written notice of its revocation is delivered to Bank,
and that the authority hereby granted shall apply with equal force and effect to the successors in office of the officers herein named.
�, SHEILA R. GILLIGAN ,�����a� CITY OF PALM DESERT , a corporation,
incorporated under the laws of the State ot California, do hereby c�erttfy that the foregoing is a full, true and correct copy of a resolution
the Board of Directors of said corporation, duly and regularly passed and adopted at a meeting of the Board of Directors of said cor-
�ration which was duly and regularly called and held in alt. respects as required by law, and by the bylaws of said corporation at the
:flce thereof on the 26th day of Jul,y , 19 84 , at which meeting a
majority of the Board of Directors of said corporation was present and voted in favor of said resolution.
I further certify that said resolution is still in full force and effect and has not been amended or revoked and that the specimen
signatures appearing on the Credit Card Agreement (Company) are the signatures of the officers and agents authorized to sign for this
corporation by virtue of this resolution.
IN WITNESS WHEREOF, I have hereunto set my hand as such Secretary, and affixed the corporate seal of said corporation,
27th day ot ' July lg 84 ,
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CITY CLERK �9idii�i[rY of
CITY OF PALM DESERT
A Carporation
EXHIBIT "B"
p'=ADY RESERVACCOUNT/BANK CA^�
To: SECURITY PACIFIC NATIONAL BANK
(COMPANY)
Agreement And Disclosure
The undersigned, CITY OF PALM DESERT, a Municipal Corporation
(corporation, partnership, sole proprietorship, etc.
f"c«„�ny•'), whose principsl plsca ot business is at �3-510 Fred Waring Drive, Palm Desert , CA 92260
will from time to time request in v�rriting thst Security Pacific National Bank issue Bank Cards in conjunction with a line of credit ("account") to Company in
the names of the officers a�d aganu of Company, for use in connection with Company's businest.
This is the agreement that coven your account with us, which is one of the following types:
Ready ReservAccount/Bank Card
Bank Card Only
Ready ReservAccount Only
' words "your" and "you" in tfiis agreement mesn the Company and anyone else authorized to use the account. Security Pacific National Bank is referred to
a wr", "us" and "we".
Us�rs Of Yow A000unt. You agree:
A. That use of any Bank Card by the person ("Holder") whoss name appean embossed thereon pursuant to Your request or by any peraon authorizsd by
the Holder to use such Bank Card, shall subject you to the terms and conditioru xt forth in this agreement. In csse of deletions from your list of officers
and agenu suthorized to use Bank Cards, the Company shall be IiaWe for the uf� of wch cards until the Bank Cerds are returned to us or we are notified of
the loss or thaft of thosa Ba�k Cards.
B. To assume sole responsibility for the uu of any and all Bank Cards iuued to any Holder pursuant to your request.
2. Usinq Your Axount.
A. If you have a Ready ReservAccount, amounts advanced under the Rsady RaservAccount are loans to you and are made by Rsady FieservAdvances in
the following ways:
1. directly to your chxking account in multiples of S100.00 if your checking account does not contsin sufficient funds to pay checks or other
charg�s dnwn against it. If the unuaed credit available is lass than S700.�0 then the unused amount will be advanced if sufficient to pay the checks or
other items. Any chacks or other charges preunted against your chacking sceount includiny checks drawn by someone appointed by you as your
agent, will be considered a request for credit under the tarms of this agreement.
2. any amount in cash up to the maximum credit remaining on your account by requesting the advance of any of our benking offices.
6. If you have a Bank Card, which may be a MasterCard, Visa or both, a Hold�r may use it after he or she signs the signaturs panel on the card:
1. to purchase or lease goods and services from sellers or lessors who honor Me Card(s); and
2. to obtsin Bank Grd Cash Adva�ces from any of our banking offices or othar institutions autho�ized to make such advancas.
3. Paym�nts. You promise to pay us on or before 15 days after the Billing Date shown o� your sutement either:
A. tha entire balance due,
B. tha graatar of 510.00 or an amount equal to 4 1/2% (roundad to the nesrest dollar) of the New Balance shown on your ststemant plus any past due
amounts, or
C. if the belance is 510.00 or less, the entire balance.
If you do not make the minimum payment due, we may levy a late charge of S.QS per dollar due and unpaid at the next statement date, not exceeding
S5.00 per ststement on cr�dit lines of 53,500.00 or less, S10A0 on credit lines in exc�ss of 53,500.00.
Your payments will be applied first to principal and then to the F INANCE CHARGES in the ratio that the outstandi�g principal bears to the total bslance
owi�g as of your ststement date.
We can accept partial payments marked "paid i� full" and Iate payments without losing our rights under this agreement. Payments received during the
posted lobby houn at any of our banking offiees or mailed to the address shown on your payment ticket or on the envelope which accompa�ies your
statement will be credited as of tha date of reeeipt. (Mailed paymmts may not be �eceived by us for several daysl. Payments received through other
facilities, suth as Walk-Up and Motor Banking Taller facilities during extended hours. Quick Service Bozes, or ReadyTeller machines may not be credited
for up to 5 days.
4. Cr�dit Limit. The Holders shall not exceed tht credit limit for your account. A letter advising you of your credit limit is sent separately.The Available
Credit is shown on the front of each statement. You agree that we may, in our discretion, reduce the credit limit by the amount of any request for suthorizat�on
from a selle► or le:sor wfio honors the Cardls) even if the amount has not yet been posted to your xcount.
5. Finanp Chsry�. Ths FINANCE CHARGE shown on the statament consisu of your (A) periodic rate charges and (B) transfer fees.
A. We calculste p�riodic rats charga by multiplying the Amou�t Subject to Periodic Rate by the applicable monthly periodic rete shown below:
Gedit Line
53,500.00 or lest
Over 53,500.00
Periodic Rate
1.70%
1.45%
ANNUALPERCENTAGERATE
20,4%
17.4%
The Amount Subjact to Periodic Rate is the sum of the amounts de�cribed in 1 and 2:
1. tha amount determined by dividing the sum of the deily unpaid bel�nces of purchases and cash advances initially posted to your account during
your previous billing cycle by the number of days in that cycle. For this purpose, the daily unpaid balance includes thou purchases and cash advances
as of the dete they were posted to your xcount and reflects payments and credits made during that cycle to the extent they exceeded the Previous
Bslsnce of that cycle.
2. the amount determined by dividing the sum of the daily unpaid bal�ncss for the current billing cycle by the number of days in this cycle. For
this purpose, the daily unpaid bslance mssns the balance owing on each day, reflecting all payments and credits posted to your account during this
cycle, but not reflecting any new purchases, cash advances, FINANCE CHARGES, late charges, or annual membership fees i�itially posted to your
account during this cycle.
B. We wlculate transfer fees by charging you a one-time tra�sfer fee of 2% (4% if you do not have our Fieady ReservAccount) of the amount of any Bank
Card Cash Advance or Ready FieservAdvance. The Amount Subject to Transfer Fees equals the sum of all such advances during the current billing cycle.
If you paY the New Balance shown on your statement betore your next Billing Date, �o periodic rate charges will be imposed during the next billing cycle.
If you do not pay the New Balance before that date, paiodic race charges will start on the date purchases, Ready ReservAdvances and Bank Card Cash
Advances shown on your previous statement were posted to your account.
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o�soee 7-e3 zs cwsr
o. ••�cner �.��a�ye�.
A. Annual F�. In consideration of the issuance by us of Master Card and/or Visa Bank Cardlsl, You wi!I 5e �harged a rionrefundable annua' membership
fee of S15.00 for each Holder issued Bank Ca is on your account. The annual membersh�p fee wiU be assessed on your first bill�ng statement and annuaiiy
thereafter.
B. Copies. You may be charged 53.50 pe� otocopy if you request copies of drafts unless rese reveals a biiling error as defined by f�eral or state
iaw.
C. Collectlon Fees. You ag►ee to pay all costs, including reasonable ettorneys' fees, incurred in the enforcement of the obligation under the account.
7. For�iyn Transsetions. Payment must be made to uz in U.S. dollars for Charges you incur in any other currency. The Mvchant Bank or foreign fi�aneial
i�stitution will convert the toraiyn transaction to U.S. dollars. Because the conversio� may xcur after the transaction date, the conversion rete may difier from
the rate in effect at the iime of the transaction. You agree fo pay the converted amount to us plus any charges for conversion that may be imposed.
8. Fir►�nei�l Stst�rr»nts. You sgree to furnish current financial informatio� uDon requeat.
9. Chanq� Of Addr�s. You agree to notify us of any ehange in your mailinq address.
10. Cndit Information. You sgree that we mey release information to othen, such as other financial institut�ons and credit buraaus, regarding the status and
history of your account.
71. Glifomu Law. Your xcou�t will be governed by Glitornia law even if you uss your acCount ounide of Califor�ia.
12. R�n�wal. Unleu You notify us to the contrary in writing tfiirty 130) days prior to the axpiration date of the outstanding Bank Cards, we shall issue to
Holders renewal Bank Grds, all to bear such expiration dates as we may, in our discretion, determine,
13. W�ivKs. We can waive any of our rights under this aqreement without affecting sny of our righu.
14. Art»ndmMt. You agree that we may amend or modify the tertns of Mis agreement anytime by mailinq written notice to you at che address shown in
records. Tha new terms will apply to new purcha�et and advances and also the outstsnding balancs in your account.
15. Anipnm�nt. No rights heraunder are wbject to astignment by you.
16. Lost Or Stol�n G►ds. If any Bank Card is lost or stolen, you agree to notify us immedistely and to tell us what you know about the loss or theft. You
protscted against fraudulent use of tha 8ank Card when you notify us of the theft or lou of the Bank Card. Your maximum liability is 550.00 should you
to nport the thoft or loss of any cud.
17. R�tum Of G�ds. Bank Cards are our proparty a�d as such can be cancslled and the privileges thereof revoked ai any time by us without prior notice to you
or any Holder and all Bank Cards issusd must be surrendered to us or to our agent upon demand.
18. Disputs B�twNn You And Third Pwtirs. Except to the extant provided under the Fair Crsdit Billing Act Isee accompanying stateenent for information
regarding disputes and billing enors), we are not responsible fOr gpods and tarvices acquired through the use of the Cardlsl, and disputes between you a�d sellxs
or lessors shall have no effeet on the undisputed portion of the indebted�ess. Refunds and adjustmenu will be made by means of credit memomnds and will be
reflectad in your monthly statement.
19. Banka's Li�n. We shall have s bank�r's �ien, a� pcurity for the payment of sny ind�btedness incurred hersu�der, on all property in our possession owned
by You. Excspt for indebtednns arisiny in connection with a cr�dit trsnf�ction primarily for personsl, famiiy, or household purpom, ws may without notice set
off epsinst any funds you may have deposited in checkiny, savings or other account with us in payment of alI wms whic� may become due under t1t1s sgreement.
20. T�mination. You agree thst we may tertninate your �ccount at anytima without prior notice if you ue i� defsult because:
A. You violate the termt of this agre�ment; .
B. You fsil to mek� psyment in sccordance with the terms of this syrstment:
C. You became bsnkrupt or insolvsnt 4or the owner of a sole proprietorshiD diesl;
D. A Holder us�s the Bank Grd contrsry to the terms of this aqre�m�nt;
E. We have evidence or reasonable belief that you are either unwilling or unabl� to psy your obliqations, or thst an unauthorized use of the csrd may be
made;
F. Any informstion you have provided is false:
G. Th�re is an att�ehment, �z�cution or Iwy apai�st you or your property•
If your account is terminated, Vou must surrender to us or to our agent sny cards issued and all amounu owing will become immediatelY due and paYable
at our option and without notice or demand.
NOTICE: 5M �coompanyinp sntNna�t fw impo►ta�t infwmation np�Minq your riqhts to di�put� billinq �►rors,
Date July 26, 1984
Plesse type or print Mrna �nd titles.
Neme
BRUCE A. ALTMAN
Nart►s
KIRBY J. WARNER
fwm�
SCOTT G. MILLER
Nsm.
Namt
Titl�
CITY MANAGER
Title
DIRECTOR OF FINANCE
rti.
ADMINISTRATIVE AIDE
Title
rti.
CITY OF PAIM DESERT
Nsme p�nY)
By
W . � - fTitiet
BY
(Title)
AuthorizW Siyneture
Authorized
Authorized Signatura
AuMorilsd Siynature
W Q�j�'�
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