14-099RESOLUTION N®. 14 -099
ADOPTING CREDIT CARD LIMITS
WHEREAS, it is in the best interest of the City of Shorewood to enter into an arrangement
with the BANK of MONTREAL, a Canadian chartered bank with a branch at 115 South LaSalle Street,
Chicago, IL 60603 to provide the City with credit by way of a Corporate MasterCard account; and
WHEREAS, the City of Shorewood has the power and authority to borrow money and
otherwise obtain credit;
. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SHOREWOOD AS FOLLOWS:
The City of Shorewood is authorized to enter into an arrangement with the Bank of
Montreal to provide the City /County with credit by way of a Corporate MasterCard
account in an amount of up to US $ 100,000.00, or such greater amount as the City
Council of the City of Shorewood may from time to time deem appropriate, under which
arrangement employees of the City may be issued with Corporate Cards on the
MasterCard corporate account of the City /County with the Bank and the City shall be
responsible for the payment of all amounts, including fees and interest, charged to such
corporate account, the whole substantially on the terms and conditions set forth in the
draft Corporate MasterCard Account Agreement submitted to and hereby approved by
the City Council;
2. The City Administrator and Finance Director are hereby authorized to sign for and on
behalf of the City a Corporate MasterCard Account Agreement with the Bank
substantially on the terms and conditions of the draft thereof approved by the City
Council, with such changes or modifications as the person(s) so signing may in their/his
sole discretion deem appropriate, and to sign such other documents and do such other
things they /he in their/his sole discretion deem appropriate or advisable in connection
with or to give effect to such Corporate MasterCard Account Agreement and the
program contemplated thereunder.
ADOPTED BY THE CITY COUNCIL OF THE CITY OF S OREWOOD this 8th day of
December, 2014.
is
Jeard Panchyshyn, City4 Cier K
SC -. Irby, ��or