Board Resolution 1993-05-20

RESOLVED: That Northern Trust Bank/DuPage hereby is designated a depository in which funds of this pension fund may be deposited, and that the Executive Director of this pension fund hereby is authorized for and on behalf of this pension fund to open a petty cash account with said depository and to make such arrangements for the conduct thereof as he or she deem proper, and also, that any officer, agent, or employee hereby is authorized to deposit funds of this pension fund in such account or accounts and to endorse for deposit or collection checks, draft notes, certificates of deposit, and orders for the payment of money. Endorsements for deposit or collection may be by the written or stamped endorsement of the pension fund, without designation of the person making the endorsement.

RESOLVED, also, that Northern Trust Bank/DuPage hereby is authorized and directed to pay out funds on deposit with it to the credit of this pension fund, upon checks or other orders for the payment of money drawn upon Northern Trust Bank/DuPage, and signed in the name of this pension fund (whether or not such checks or other orders create or increase an overdraft of said account or accounts) by the following to wit: Executive Director.

RESOLVED, also, that Northern Trust Bank/DuPage hereby is requested, authorized and directed to honor checks, drafts or other orders for the payment of money drawn in the name of this pension fund, including those drawn to the individual order of any person or persons whose name or names appear thereon as signer or signers thereof, when bearing or purporting to bear the facsimile signature(s) of the following to wit: Executive Director, and Northern Trust Bank/DuPage shall be entitled to honor and to charge this pension fund for all such checks, drafts or other orders regardless of by whom or by what means the facsimile signature or signatures thereon may have been affixed thereto, if such facsimile signature or signatures resemble the facsimile specimens duly certified to or filed with Northern Trust Bank/DuPage by the Secretary or other officer of this pension fund.

RESOLVED, also, that Northern Trust Bank/DuPage shall not in any way be responsible for or have any obligation to inquire into, the circumstances of the issuance of any check or other order for the payment or money, or other instrument signed, as herein provided, or the application, disposition, or use of any such check, order, or instrument or the proceeds thereof, or of any of the funds deposited with it as herein provided; and shall honor, receive, certify, and pay any and all checks and other orders for the payment of money and other instruments signed as herein provided, whether or not payable or endorsed to the order of any officer or other person signed or countersigning the same, or of any of the officer or employee of this pension fund, and whether or not deposited to the individual credit of or used in payment of the individual obligation of or tendered for cashing by any officer or other person signing or countersigning the same, or of or by any of the other officers or employees of this pension fund.

RESOLVED, also that the Executive Director is authorized without the concurrence of any officer or person:

1. to identify, approve, and guarantee the endorsement of any payee or endorser of any check by this pension fund;
2. to waive presentment, demand, protest, and notice of dishonor or protest, and to give instructions in regards to the handling or delivery of any negotiable or nonnegotiable papers or documents involved in any of said transactions; and,
3. to act for this pension fund in the transactions of all other business for its accounts with Northern Trust Bank/DuPage.

RESOLVED, also, that the Secretary of the Board of Trustees of the Illinois Municipal Retirement Fund shall file with the Northern Trust Bank/DuPage a certified copy of this resolution under seal and also shall file with Northern Trust Bank/DuPage a list of the persons at the present time holding the position of Executive Director of the Illinois Municipal Retirement Fund and Northern Trust Bank/DuPage as against Illinois Municipal Retirement Fund shall be entitled to presume conclusively that the person so certified as being Executive Director continues to hold the same office until otherwise notified in writing by Albert J. Glienke, Secretary, and said Albert J. Glienke, Secretary, is authorized and directed to certify that the provisions hereof are in conformity with the statue governing the Illinois Municipal Retirement Fund.

RESOLVED, also, that this resolution shall be in full force and effect and binding upon the Illinois Municipal Retirement Fund until it shall have been repealed, and until written notice of such repeal shall have been delivered to Northern Trust Bank/DuPage at its office in Oak Brook Terrace, Illinois.