08-07-21-Resolution-Closure of Account with First United Bank and Transfer CARES Act Funds-08/02/2021RESOLUTION #08-07-21
A RESOLUTION OF THE CITY OF SANGER TEXAS, AUTHORIZING THE CLOSURE
OF A BANK ACCOUNT WITH FIRST UNITED BANK AND THE TRANSFER OF THE
ACCOUNT BALANCE TO THE OPERATING ACCOUNT WITH FIRST UNITED BANK
AND DECLARING AN EFFECTIVE DATE.
WHEREAS, the City of Sanger entered into an Agreement with First United Bank
(`Bank"), for the latter to serve as the Depository Bank for the City; and
WHEREAS, the City established certain accounts in `Bank" to facilitate the deposit and
disbursement of City funds for authorized purposes; and
WHEREAS, the City determined that it is no longer necessary to maintain such accounts;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SANGER, TEXAS THAT:
Section 1. That the above recitals are true and correct; and the City staff is authorized to
close the account with First United Bank and transfer the balances at the time of closing as listed
below:
Close Account Transfer Balance to
Account ******2596(CARES Act Funds) Account ******3585 (Pooled Cash Account)
Section 2. That this Resolution shall become effective after its passage.
DULY PASSED, APPROVED AND ADOPTED by the City Council of the City of Sanger,
Texas, on this 2nd day of August, 2021.
APPROVED:
Thomas E. Muir, Mayor
ATTEST:
Kelly Edwards, City Secretary