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Board authorizes Zions Bank account with dual-signature wiring controls
Summary
The board approved Resolution 2025-005 to open an account at Zions Bank, appoint signatories, and require dual authorization for wire transfers; staff explained the change would streamline wire payments and reduce intermediary routing.
The Abemore Community Infrastructure District No. 1 approved Resolution 2025-005 authorizing the opening of a bank account with Zions Bank, naming signatories and setting an effective date. Board members asked why a new account was needed; a staff member explained the change would facilitate wire transfers and avoid routing through a third-party bank.
During discussion a staff/consultant said the district had requested the change because routing wires through a third party (DL Evans) was becoming difficult and a Zions Bank account would be the ultimate holding account. A board member noted the resolution requires that all wire transfers have dual authorization from two of three signatories. After the explanation a board member moved to approve the resolution; the chair announced the motion passed.
