1994-002City of Southlake, Texas
RESOLUTION NO. 94-02
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SOUTHLAKE, TEXAS, AUTHORIZING TWO
J
SIGNATURES OF THE PRESIDENT AND TREASURER FOR
CHECKS ISSUED ON BEHALF OF THE SOUTHLAKE PARKS
DEVELOPMENT CORPORATION; FOR ANY ITEM APPROVED
BY THE BOARD OF DIRECTORS; PROHIBITING THE
MAKING OF A CHECK FOR NON -APPROVED ITEMS; AND
PROVIDING FOR AN EFFECTIVE DATE UPON PASSAGE
AND APPROVAL.
WHEREAS, the .Southlake Parks Development Corporation (the
Corporation") was incorporated for the purposes set forth in
Article Four of its Articles of Incorporation, the same to be
accomplished on behalf of the City of Southlake, Texas (the "City")
as its duly constituted authority and instrumentality in accordance
with the Development Corporation Act of 1979, Article 5190.6
Vernon's Texas Civil Statutes, and other applicable laws; and,
WHEREAS, in the fulfillment of its corporate purpose, the
Corporation shall be governed by Section 4B of the Act, and shall
have all the powers set forth and conferred in its Articles of
Incorporation, in the Act, in the Bylaws, and in other applicable
law, subject to the limitations prescribed therein and herein and
to the provisions thereof and hereof; and,
WHEREAS, the President of the Corporation is the Chief
Operating Executive Officer of the Corporation and the Treasurer is
the Chief Fiscal Officer of the Corporation; and,
WHEREAS, the Treasurer of the Corporation is the Director of
Finance of the City of Southlake;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SOUTHLAKE, TEXAS, THAT:
SECTION 1. All the findings in the preamble are found to be
true and correct and the City Council does hereby incorporate said
findings into the body of this resolution as if copied in their
entirety.
SECTION 2. By passage of this resolution the City Council does
hereby require two (2) signatures, facsimile or actual, of both the
President and the Treasurer of the Corporation for checks less than
5,000 issued on behalf of the Southlake Parks Development
Corporation for any item approved by the Board of Directors.
SECTION 3. By passage of this resolution the City Council
does hereby require two (2) signatures of the President and
Treasurer for check of $5,000 or more issued on behalf of the SPDC
for any item approved by the Board of Directors.
SECTION 4. By passage of this resolution the City Council
does hereby prohibit the making of a check for any item without
approval from the Board of Directors.
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RESOLUTION 94-02
PAGE 2
SECTION 5. This resolution shall be in full force and effect
from and after its passage and approval.
PASSED AND APPROVED W the Ci Council of the City of
Southlake, Texas on this l day of 1994.
ATTEST:
5andra LeGrand
City Secretary
b.94-02 RES/ORD&RES/kb
ary Fi kes/, Mayor