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R2015-122 APPOINTING CITY TREASURER AND CITY MANAGER AS AGENTS
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R2015-122 APPOINTING CITY TREASURER AND CITY MANAGER AS AGENTS
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Last modified
3/5/2018 4:48:42 PM
Creation date
11/4/2015 11:30:25 AM
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Resolution/Ordinance
Res Ord Num
R2015-122
Res Ord Title
APPOINTING CITY TREASURER AND CITY MANAGER AS AGENTS PURSUANT TO INVESTMENT MANAGEMENT AGENCY AGREEMENT BETWEEN REGIONS BANK AND CITY OF DECATUR
Approved Date
11/2/2015
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ARTICLE VII <br /> The Agent shall receive compensation for its services in accordance with its current <br /> schedule of fees, as expressed in Article XII. The Agent shall be authorized to deduct the fees <br /> and out of-pocket expenses from the funds held under this Agreement. <br /> ARTICLE VIII <br /> The undersigned certify and wazrant to the Agent that they have the right, power and <br /> authority to enter into and execute this Agreement. The Agent shall be fully protected in acting <br /> in accordance with any instrument which it may consider pertinent, reliable, genuine, and to <br /> have been signed by the proper Principal or other designated party. The Agent shall also be <br /> protected to act on the Principal's instrucrions in verbal, telephonic or telegraphic form with <br /> full protection to the Agent, and the Principal agrees to submit promptly thereafter written <br /> confirmation of such instrucdons when appropriate. <br /> ARTICLE IX <br /> The Principal hereby expressly reserves and retains the right at any time or from time <br /> to time by a norice in writing delivered to the Agent to withdraw any or all of the property held <br /> hereunder or to revoke the Agency account hereby created in whole or in part, subject to the <br /> payment of the compensation due to Agent and subject to the payment of the reasonable <br /> expenses of terminating the Agency account; and to alter, amend and modify this Agreement in <br /> any and every respect provided, however, that the duties, responsibilities and compensation of <br /> the Agent shall not be changed without written consent of the parties hereto. <br /> ARTICLE X <br /> This Agreement may be terminated by either the Principal or Agent upon 30 days <br /> advance written norice to the other party. Upon termination of this Agreement, Agent shall <br /> deliver to Principal the property held hereunder and a final accounting for the period since the <br /> last statement. <br />
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