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Bluff council authorizes Zions Bank and PTIF signatories
Summary
Council approved resolutions authorizing signatories for a Zions Bank account and the state Public Treasurers Investment Fund (PTIF), specifying who will access accounts and that former council members will be removed as signatories.
Town staff explained that Zions Bank requires a formal resolution to set authorized signatories and cardholders and to remove prior council members from account access.
"This essentially goes through who is authorized to access those accounts, be signatories on those accounts, be issued a bank card and then who will be removed from council," town manager Aaron Nelson said while reviewing the resolution that was distributed in the agenda packet.
Council then held a required roll-call vote and approved the Zions resolution unanimously. Staff noted logistical follow-up (signature cards, visiting the bank) to implement the change.
The council also approved a similar resolution for the Public Treasurers Investment Fund (PTIF), the state-run account used to hold town funds for interest accrual. Nelson said the PTIF template is provided by the state treasurer's office and that manager, treasurer and the accountant will be authorized users; the council voted unanimously to adopt that resolution as well.
Members emphasized that monthly statements will continue to be provided to the council so members can monitor accounts. Staff said they will confirm removal of previous signatories and provide assistance with signatures and notary logistics.
