R-1915 - 05/25/2021 - FINANCE - Resolutions ITEM 6.C.3
BOARD OF TRUSTEES MEETING
VILLAGE o► SAMUEL E. DEAN BOARD ROOM
OAK BR , K BUTLER GOVERNMENT CENTER
1200 OAK BROOK ROAD
OAK BROOK, ILLINOIS
630-368-5000
AGENDA ITEM
Regular Board of Trustees Meeting
of
May 25, 2021
SUBJECT: Update Village Brokerage Signer
FROM: Jason Paprocki, Finance Director \
BUDGET SOURCE/BUDGET IMPACT: N/A
RECOMMENDED MOTION: I move the Village Board approve Resolution 2021-FI-
BKSRV-R-1915 "A Resolution Adding and Removing Various Officers as Signatories on
Village Brokerage Accounts".
Background/History:
Due to upcoming personnel changes, it is necessary to update the authorized signers on the
Village's investment accounts with JP Morgan Chase. Currently, the only two authorized
signers are Village Manager Rick Ginex and Finance Director Jason Paprocki. This resolution
is to remove Mr. Ginex from the authorized signers and add Police Chief James Kruger. Chief
Kruger will have trading authority until a new Village Manager is named. If further changes
are needed at that point, we will bring forward another resolution to update the authorized
signers list.
Recommendation
I recommend the Village Board approve Resolution 2021-FI-BKSRV-R-1915 "A Resolution
Adding and Removing Various Officers as Signatories on Village Brokerage Accounts".
BOT AGENDA Page I ��
THE VILLAGE OF OAK BROOK
COOK AND DUPAGE COUNTIES, ILLINOIS
RESOLUTION
2021-FI-BNKSRV-R-1915
A RESOLUTION
ADDING AND REMOVING VARIOUS
OFFICERS AS SIGNATORIES ON
VILLAGE BROKERAGE ACCOUNTS
GOPAL G. LALMALANI, Village President
CHARLOTTE K. PRUSS, Village Clerk
LAURENCE HERMAN
MICHAEL MANZO
JAMES NAGLE
A. SURESH REDDY
EDWARD TIESENGA
ASIF YUSUF
Village Board
Published in pamphlet form by authority of the
President and the Board of Trustees of the Village of Oak Brook
on this the 25th day of May, 2021
Resolution 2021-FI-BNKSRV-R-1915
A Resolution Adding and Removing Various Officers as
Signatories on Village Brokerage Accounts Page 2 of 3
RESOLUTION 2021-FI-BNKSRV-R-1915
A RESOLUTION ADDING AND REMOVING VARIOUS OFFICERS AS
SIGNATORIES ON VILLAGE BANK ACCOUNTS
WHEREAS,the Village maintains a brokerage account with JP Morgan('Account");and
WHEREAS,Village Manager,Riccardo Ginex is an authorized signatory and agent on the Account;
and
WHEREAS,the Village Manager's employment with the Village will be ending effective May 31,
2021;and
WHEREAS,the Village desires to designate Police Chief James Kruger as an authorized signer
and agent until the Village appoints a new Village Manager;and
WHEREAS,Village Board desires to:(i)remove Riccardo Ginex as a signatory and its agent on
the Account,effective June 1,2021;and(2)add James Kruger as a signatory and its agent on the Account,
effective on the date of passage of this Resolution;and
WHEREAS,the Village President and Board of Trustees hereby find and determine that it is in the
best interest of the Village to approve this Resolution;
NOW,THEREFORE,BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF
THE VILLAGE OF OAK BROOK,DU PAGE AND COOK COUNTIES,ILLINOIS as follows:
Section 1: Recitals.The foregoing recitals are incorporated into,and made a part of, this
Resolution as the findings of the Village President and Board of Trustees.
Section 2: Removal of Authority to be Signatory and Agent. The President and Board of
Trustees hereby removes and repeals the authority of Riccardo Ginex to serve as a signatory and agent
on the Village Account,effective June 1,2021.
Section 3: Authorization to be a Signatory and Agent. The President and Board of Trustees
hereby authorize and appoint James Kruger to serve as a signatory and agent on the Account.
Section 4: Execution of Required Documentation.The President,the Police Chief,the Village
Clerk,and the Village's Finance Director are hereby authorized to execute and attest,on behalf of the
Village,all necessary documents to effectuate Sections 2 and 3 of this Resolution.
Section 5: Effective Date. This Resolution shall be in full force and effect upon passage and
approval in the manner provided by law.
(SIGNATURE PAGE FOLLOWS]
Resolution 2021-FI-BNKSRV-R-1915
A Resolution Adding and Removing Various Officers as
Signatories on Village Brokerage Accounts Page 3 of 3
APPROVED THIS 25th day of May.2021.
&2e��.'
,
Gopal G.Lalmalani
Village President
PASSED THIS 25th day of May,2021.
Ayes: Trustees Herman,Manzo,Nagle,Reddy,Tiesenga,Yusuf
Nays: None
Absent: None
ATTEST:
�aGt Of 04q,�9
Charlotte K.Pruss
t$ Village Clerk
G ur
2ej