HomeMy WebLinkAbout724-16 Fathom Depository Account RESOLUTION NO. 724-16
A RESOLUTION OF THE CITY OF ZEPHYRHILLS,
FLORIDA PROVIDING FOR FATHOM WATER
MANAGEMENT, LLC TO PROVIDE CITY UTILITY WITH
CUSTOMER ACCOUNT SERVICING; PROVIDING AN
EFFECTIVE DATE.
WHEREAS;FATHOM(FATHOM Water Management,LLC)("FATHOM")has entered
into a contract to provide customer account servicing(the "Contract")on behalf of the water utility
for the City of Zephyrhills, Florida, (the "City") and
WHEREAS; in order to provide said water utility customer account servicing, FATHOM
will be invoicing customers, receiving payments from customers and maintaining account records
for the customers as agent for and on behalf of the City, and
WHEREAS; FATHOM recognizes that at all material times the payments received are
and will continue to be equitably owned by the City and held and accounted for by FATHOM for
the City's benefit, and
WHEREAS; it will be necessary for FATHOM to deposit customer payments in a bank
account controlled by and in the name of FATHOM, and'
WHEREAS; FATHOM has provided to City adequate and binding assurances that all
customer payments will be held in an account separate from and not commingled with funds
legally and equitably belonging to FATHOM,
NOW, THEREFORE, BE IT RESOLVED by the City Council' of the City of
Zephyrhills, Florida that:
FATHOM is authorized by the City to receive customer payments for water utility services
provided by City into a bank account legally titled in FATHOM's name (the "Account").
FATHOM is authorized to endorse and negotiate all such payments as City's agent for
deposit into the Account
FATHOM shall at all times hold all such payments as City's collection agent and for the
use and benefit of City as provided for in the Contract.
FATHOM shall account for all such funds and transfer funds to an account held by City
and designated by City for receipt of such funds as provided in the Contract.
This resolution shall take effect immediately upon passage.
NOW, THEREFORE, BE IT PASSED by the City Council of the City of Zephyrhills,
Florida, sitting in regular session this 25th day of July, 2016.
Attest:o �� �
Lori L. Hillman, City Clerk t
Gene tfield, r
Approved as to legal form and sufficiency
for the so e i r ' s_
se A. Poblick, City Attorney