Repository: UIHistories Project: Board of Trustees Minutes - 1988 [PAGE 579]

EXTRACTED TEXT FROM PAGE:

1988]

UNIVERSITY OF ILLINOIS

569

issued with respect to such transfer, and, for and on behalf of the University, to enter into such agreements with the Bank with respect to any such transfer(s) as such officer(s) in (his) (their) sole discretion deem(s) advisable. Resolution for Pledged-Custody Account Federal Reserve Bank of Chicago Resolved, that the Champaign National Bank utilize the services of Federal Reserve Bank of Chicago for the custody of securities pledged to the Board of Trustees of the University of Illinois or to any of its agencies or departments, upon terms and conditions prescribed by the Federal Reserve Bank of Chicago. Resolved, that such securities deposited for custody with Federal Reserve Bank of Chicago may be released from custody to Champaign National Bank upon the signature of any one of the following: Assistant Vice President for Business Affairs, Director of Cash Management and Investments, Investment Office Accountant I I I . Resolved, that the Secretary of the Board of Trustees of the University of Illinois forward a certified copy of this resolution to Federal Reserve Bank of Chicago together with a certificate attesting to the names and signatures of the present incumbents of the offices described above; and that the Secretary of the Board of Trustees of the University of Illinois further certify to the bank from time to time the signatures of any successors in office of any of the present incumbents. Resolved, that Federal Reserve Bank of Chicago shall be fully discharged from all liabilities or responsibility for any action carried out in accordance with this resolution and it shall be entitled to rely on this resolution until it receives express written notice to the contrary in the form of a certified copy of a subsequently enacted resolution. Resolved, that this resolution shall supersede and cancel all previous resolutions relating to the custody of securities at Federal Reserve Bank of Chicago. Resolution for Pledged-Custody Account Federal Reserve Bank of Chicago Resolved, that the First National Bank of Champaign utilize the services of Federal Reserve Bank of Chicago for die custody of securities pledged to the Board of Trustees of the University of Illinois or to any of its agencies or departments, upon terms and conditions prescribed by the Federal Reserve Bank of Chicago. Resolved, that such securities deposited for custody with Federal Reserve Bank of Chicago may be released from custody to First National Bank of Champaign upon the signature of any one of the following: Assistant Vice President for Business Affairs, Director of Cash Management and Investments, Investment Office Accountant I I I . Resolved, that the Secretary of the Board of Trustees of the University of Illinois forward a certified copy of this resolution to Federal Reserve Bank of Chicago together with a certificate attesting to the names and signatures of die present incumbents of the offices described above; and that the Secretary of die Board of Trustees of the University of Illinois further certify to the bank from time to time the signatures of any successors in office of any of the present incumbents. Resolved, that Federal Reserve Bank of Chicago shall be fully discharged from all liabilities or responsibility for any action carried out in accordance with this resolution and it shall be entitled to rely on this resolution until it receives