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Borrow From Designated Bank
BORROW FROM DESIGNATED BANK
RESOLVED, that the [Person's Name] of the Corporation is authorized, for the account of this Corporation, and on such terms and conditions as he/she may deem proper, to borrow from [Name of Bank] Bank sums of money;
and to sign, execute, and endorse all such documents as may be required by said bank to evidence such indebtedness; to discount or rediscount with said bank any of the bills receivable owned by this Corporation; to apply for and obtain from said bank letters of credit, and to execute agreements to secure said bank in connection therewith; to pledge and/or mortgage any moneys on deposit or any moneys otherwise in the possession of said bank, and/or any bonds, stocks, receivables, or other property of this Corporation, to secure the payment of any indebtedness, liability, or obligation of this Corporation to said bank whether now due or to become due and whether existing or hereafter incurred, to withdraw and/or substitute any property held at any time by said bank as collateral, and to sign and execute trust receipts for the withdrawal of same when required; and generally to do and perform all acts and sign all agreements, obligations, pledges, and/or other instruments necessary or required by said bank.
The undersigned hereby certifies that [he/she] is the duly elected and qualified Secretary and the custodian of the records and books and seal of the [Name of Corporation] corporation. The undersigned also certifies that this corporation has been duly formed in accordance with the laws of [State of Jurisdiction]. Furthermore, the undersigned certifies that the foregoing is a true record of a resolution duly adopted at a meeting of the Board of Directors, and that said meeting was held in accordance with the applicable laws and the Bylaws of the [Name of Corporation] Corporation on [Date of Meeting], and that said resolution is now in full force and effect without modification or rescission.
IN WITNESS WHEREOF, I have executed my name as Secretary and have hereunto affixed the corporate seal of the [Name of Corporation] Corporation on [Date signed]
A True Record.
Attest.
Secretary