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9.h) Staff Report-Mayor's StampSCANDIA. Staff RepoVt Date of Meeting: January 21, 2014 To: City Council From: Kristina Handt, City Administrator Re: Mayor's Stamp Background: Mayor Simonson would like to get Council approval for the use of a stamp to sign checks. The use of a facsimile signature is specifically permitted by State Statute 47.21. Any one or more of the required signatures may be by facsimile. Any public officer who is authorized to sign any of the following instruments may authorize the bank to honor instruments bearing a facsimile of his or her signature: Checks Drafts Warrants Warrant -checks Vouchers Check -orders on public funds The public officer will not be personally liable for any loss that results from the use of his or her facsimile signature if all of the following circumstances are met: The City Council has passed a resolution to approve the public officer's use of a facsimile signature. The City Council has insured the depositor against any loss of funds withdrawn upon unauthorized use of the facsimile signature The loss is not due to a wrongful act of the public officer. Issue: Should the City Council approve the use of a stamp signature for Mayor Simonson? Proposal Details: Included in your packet is Resolution 01-21-14-08, authorizing the use of a stamp for the Mayor's signature. The state auditor has cautioned that, like checks, security precautions should also be taken for all signature stamps, signature plates, and signature software. Therefore, staff is proposing that the stamp be kept secured at the City offices. Fiscal Impact: The cost of a stamp is $35 plus $4.95 for shipping and handling. There will be no additional insurance cost as the City's coverage already includes a $200,000 bond. The Council may wish to discuss if the cost of the stamp should be borne by the City or the Mayor. Options: 1) Approve Resolution 01-21-14-08 2) Amend and then Approve Resolution 01-21-14-08 3) Do not accept the donation