1998-55469-Resolution No. 98-133 Recorded 12/3/1998REVIEWED
169 290?
J`C-51A469 LE 1JNSfL
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY, OREGON
A Resolution Authorizing the County to Open
an Investment Account at Wells Fargo Bank
for the Purpose of Purchasing, Selling,
Transferring, Exchanging, Pledging and
Generally Dealing in any and all Forms
of Securities and Financial Instruments
Subject to the Limitations Set Forth in
ORS 294.035 and 294.040.
RESOLUTION NO. 98-133
98 DEC -3 pM 1: 48
MARY. SUE F"EN.i0LL0�1
COUNTY Ci ,RK
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES
COUNTY, OREGON, as follows:
Section 1. That the County is authorized and empowered to open an account with Wells
Fargo Bank Dealer.
Section 2. That the Investment Account shall be a Cash Account for the purpose of
purchasing, selling (including short sales), transferring, exchanging, pledging, and generally dealing in
any and all forms of securities and financial instruments of every kind of nature whatsoever subject to
the limitations set forth in ORS 294.035 and 294.040. All orders and instructions, written or oral,
relating to the Account shall be given Wells Fargo Bank Dealer by the designated County official who
is hereby authorized and directed to purchase and/or sell and/or deal in any and all securities and
financial instruments for the County, including the power to deliver, accept delivery of, pledge,
endorse, and direct the transfer of record title of any assets beneficially owned by the County, without
obligation on Wells Fargo Bank Dealer's part to inquire into the reasons for said orders or instructions.
Section 3. That Wells Fargo Bank Dealer may deal with Martin F. Wynne, Treasurer, as
though Wells Fargo Bank Dealer was dealing with the County directly.
Section 4. That Martin F. Wynne, Treasurer, is authorized and directed to execute and
deliver to Wells Fargo Bank Dealer on behalf of the County any and all agreements, documents,
contracts, and other writings that Wells Fargo Bank Dealer may require.
Section 5. That Martin F. Wynne, the County Treasurer, is hereby authorized, empowered
and directed to certify to Wells Fargo Bank Dealer:
(a) a specimen signature of Martin F. Wynne, empowered by these Resolutions;
(b) a certificate (which, if Wells Fargo Bank Dealer requires, shall be supported by
an opinion of the general counsel of the County, or other counsel satisfactory to
Wells Fargo Bank Dealer) that the County is duly organized and existing, that
the laws of the state of Oregon empower the County to transact the business
contemplated in these Resolutions, and that no limitation, except as set forth in
ORS 294.035 and 294.040, has been imposed upon such powers by constitution,
statute, regulations, charter, by law, or otherwise. ,hgp
MIC FILMED
�^ CC
PAGE 1 -RESOLUTION NO. 98-133 (12/2/1998) DEC 0 91998
:�-
169 - 2908
Section 6. That the Deschutes County Clerk is directed to provide Wells Fargo Bank Dealer
with a certified copy of this Resolution.
Section 7. That Wells Fargo Bank Dealer may rely upon any certification given in
accordance with these Resolutions as continuing fully effective unless and until Wells Fargo Bank
Dealer shall receive due written notice of an amendment, modification or rescission of such
Resolutions or certification. Further resolved that Wells Fargo Bank Dealer shall not be liable for any
action taken or not taken upon instruction of any Authorized Individual prior to the County's actual
receipt of written notice of the termination or impairment of such person's authority. The failure to
supply any specimen signature shall not invalidate any transaction which is in accordance with
authority actually granted.
Section 8. That in the event of any change in the office or powers of the person hereby
empowered, the Deschutes County Clerk shall certify such changes to Wells Fargo Bank Dealer, in
writing, which certification, when Wells Fargo Bank Dealer receives it, shall terminate the powers of
the person previously authorized and empower the person(s) thereby substituted.
DATED this d2. day of ���, , 1998.
ATTEST:
n,. - , , " -', ) a � �, a�-
Recording Secretary
BOARD OF COUNTY CONMESSIONERS FOR
XINDA L. SWE RINGEN, Commissioner
PAGE 2 - RESOLUTION No. 98-133 (12/2/1998)