Town of Rock Hall, MD
Kent County
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Table of Contents
Table of Contents
[HISTORY: Adopted by the Mayor and Council of the Town of Rock Hall 7-1-2013 by Res. No. 2013-05. Amendments noted where applicable.]
GENERAL REFERENCES
Debt policy — See Ch. 5.
Expenses — See Ch. 17.
Investment policy — See Ch. 20.
The Clerk-Treasurer and the Assistant Clerk-Treasurer, with the express written approval of a majority of the Mayor and Council, shall have the sole authority to open any deposit or share account with the Peoples Bank of Kent County (the "Bank") in the name of the "Town of Rock Hall," as a Maryland municipal corporation, when the Mayor and Council determine that the best interests of the Town and its citizens so dictate; provided, however, any such account must be opened in person and with both the Clerk-Treasurer and the Assistant Clerk-Treasurer present. The Bank is hereby designated as the depository for the funds of the Town and to provide other financial accommodations as required by the Mayor and Council from time to time. Upon adoption of this chapter, the Clerk-Treasurer shall provide the Bank with a copy of the same for the Bank's records.
All transactions with respect to any deposits, withdrawals, or rediscounts by or on behalf of the Town with the Bank prior to the adoption of this chapter are hereby ratified, confirmed, and approved.
The Mayor and Council agree to the terms and conditions of any account agreement for any account duly opened by the Clerk-Treasurer and the Assistant Clerk-Treasurer as provided in § 3-1 herein. The Mayor and Council hereby authorize the Bank, at any time, to charge the Town for all checks, drafts, or other orders for the payment of money that are drawn on the Town's account with the Bank, so long as any such instrument is properly signed in accordance with this chapter and local law.
Checks drawn on any account with the Bank for the payment of salaries or municipal obligations shall be prepared by the Clerk-Treasurer or Assistant Clerk-Treasurer and signed in accordance with § 711 of the Charter.
Access to any online banking account maintained with the Bank in the Town's name shall be limited to the Clerk-Treasurer and the Assistant Clerk-Treasurer. Only the Clerk-Treasurer, or the Assistant Clerk-Treasurer, in the Clerk-Treasurer's absence, has authority to transfer or withdraw funds electronically from any such account and only for the payment of salaries or municipal obligations. Access information to the Town's online banking account, i.e., login and password, shall be maintained by the Clerk-Treasurer and the Assistant Clerk-Treasurer in a secure location. The Clerk-Treasurer shall change the password every six months for security purposes.
The Mayor and the Vice President of the Council shall be authorized to enter into a written lease with the Bank on behalf of the Town for the purpose of renting, maintaining, and accessing a safe deposit box, and to terminate any such lease, subject to the approval of the Council. The safe deposit box shall only be accessed by the Mayor and the Vice President of the Council and only when both individuals are present. No contents shall be stored in or removed from the safe deposit box without the express written approval of a majority of the Mayor and Council.
The Mayor and Council acknowledge and agree that the Bank may, when appropriate, rely on alternative signatures and verification codes issued to or obtained from the individuals authorized herein, i.e., the Mayor, the Vice President of the Council, the Town Manager, the Clerk-Treasurer, and the Assistant Clerk-Treasurer. The term "alternative signatures and verification codes" includes, but is not limited to, facsimile signatures on file with the Bank, personal identification numbers ("PINs"), and digital signatures. If a facsimile signature specimen of any of the foregoing authorized individuals has been provided in this chapter (or is filed separately by the Town with the Bank from time to time), the Bank is authorized to treat the facsimile signature as the signature of the authorized individual, regardless of by whom or by what means the facsimile signature may have been affixed so long as it resembles the facsimile signature specimen on file. The Mayor and Council authorize the Clerk-Treasurer to have custody of the Town's private key used to create a digital signature and to request issuance of a certificate listing the corresponding public key. The Mayor and Council agree that the Bank shall have no liability or responsibility for unauthorized use of alternative signatures and verification codes unless otherwise agreed in writing.