Resolution 2004-10-04.jrk.1: Begin Banking with FirstIB

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From: David Graham - SPI Secretary <cdlu(at)spi-inc(dot)org>
To: spi-announce(at)lists(dot)spi-inc(dot)org
Subject: Resolution 2004-10-04.jrk.1: Begin Banking with FirstIB
Date: 2004-10-05 20:15:05
Message-ID: Pine.LNX.4.55.0410051611430.2267@baffin
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The following resolution was approved by the Board of Directors of SPI on
October 5th, 2004, on the understanding that the Treasurer will seek to
keep the balance of this account below US$5000 in order to mitigate any
loss liability risk.

Resolution 2004-10-04.jrk.1: Begin Banking with FirstIB

WHEREAS SPI has found its current banking relationship with American
Express Centurion Bank to be unsatisfactory;

WHEREAS the Treasurer of SPI has investigated multiple alternative
banking options and concluded that SPI should move its checking accounts
to the First Internet Bank of Indiana (henceforth "FirstIB");

WHEREAS the Treasurer has authority under SPI bylaws to proceed without
further approval, but is required under FirstIB's application procedures
to obtain a formal resolution of the Board:

SPI's Board of Directors HEREBY RESOLVES THAT:

1. The Treasurer, Deputy Treasurer, Secretary, and President are
directed to work together as necessary to complete and submit to FirstIB
all application forms necessary to open a business banking account
relationship with FirstIB, as directed on the FirstIB website, including
the main business account application form and the Corporate Resolution

2. The Board of Directors hereby resolves those specific resolutions
that are listed in the "RESOLUTIONS" section of the FirstIB Corporate
Resolution form as of October 4, 2004, which are required to open a
business account with FirstIB, which are incorporated herein by
reference, and which will be appended to the published text of this
resolution once it has been approved by the Board;

3. The initial authorized signers for the account shall be the
Treasurer, Deputy Treasurer, and President;

4. The Corporate Resolution form shall be filled out such that power #1
(all listed powers) is granted to the Treasurer, requiring one
signature, and such that power #3 (check-signing and other withdrawals)
is granted to the Deputy Treasurer and to the President, again requiring
one signature; and

5. The Treasurer may authorize without further Board approval the
purchase and provision to FirstIB of such government certificates as may
be required by FirstIB to complete the application process, including
but not limited to a certified copy of our articles of incorporation
and/or a certificate of good standing, although no such requirement is
anticipated as of the passing of this resolution.

- ---
David Graham, SPI Secretary

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