Res 64-93 RESOLUTION NO. 64-93
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
DELRAY BEACH, FLORIDA, AUTHORIZING THE APPROPRIATE
OFFICIALS OF THE CITY OF DELRAY BEACH, FLORIDA, TO
EXECUTE THE DOCUMENTS NECESSARY TO REDEEM AND RELEASE
TWENTY-FIVE (25) SHARES OF RCA COMMON STOCK;
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Delray Beach, Florida, is a municipal
corporation organized and existing under and by virtue of the laws
of the State of Florida; and
WHEREAS, the City of Delray Beach, Florida, pursuant to
its Charter, shall have all governmental, corporate and proprietary
powers to enable it to conduct municipal government, perform
municipal functions and render municipal services, and may exercise
any power for municipal purposes except as otherwise provided by
law; and
WHEREAS, pursuant to Section 3.01 of the Charter of the
City of Delray Beach, Florida, there shall be a City Commission with
all legislative powers of the City vested therein; and
WHEREAS, the City Commission of the City of Delray Beach,
Florida, met in regular session on the 22nd day of June, 1993, at
which meeting a quorum was present.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF DELRAY BEACH, FLORIDA, AS FOLLOWS:
Section 1. That the Mayor, the City Clerk, and the
Director of Finance of the City of Delray Beach, Florida, be and
they are hereby fully authorized and empowered to transfer, endorse,
sell, assign, set over, and deliver any and all shares of stock,
bonds, debentures, options, notes, evidences of indebtedness, or
other securities now or hereafter standing in the name of or owned
by the City of Delray Beach, Florida, and to make, execute, and
deliver, under the corporate seal of the City, any and all written
instruments necessary or proper to effectuate the authority hereby
conferred.
Section 2. That the authority hereby conferred is not
inconsistent with the Charter of the City of Delray Beach, Florida,
and that the following is a true and correct list of the members of
the City Commission as of the present date:
Mayor Thomas E. Lynch
Co~issioner Barbara D. Smith
Co~issioner Jay Alperin
Co~issioner Kenneth C. Ellingsworth
Co~issioner David Randolph
Section 3. That this Resolution shall become effective
i~ediately upon passage.
PASSED AND ADOPTED in regular session on this the 22nd day
of June, 1993.
ATTEST:
J-City ~erk !
CORPORATE SEAL
- 2 - Res. No. 64-93
MEMORANDUM
TO: David T. Harden
City Managel.~_~~
FROM: Joseph
SUBJECT: RCA Stock
DATE: June 21, 1993
The City was recently advised that there was some unclaimed RCA Stock in
the City's name. This RCA stock appears to have been donated to the Police
Department many years ago for canine operations. The City never received the
actual stock certificates.. The City did receive the dividends.
RCA was taken over and the stock is now listed as unclaimed.
In order to claim the stock, the City needs to approve and execute the
attached.
/sam
cc: Milena L. Walinski, Assistant Finance Director
CERTIFICATION
I, ALISON MacGREGOR HARTY, City Clerk of the City of
Delray Beach, Florida, do hereby certify that the attached is a
true and correct copy of Resolution No. 64-93, authorizing the
appropriate officials of the City of Delray Beach, Florida, to
execute the documents necessary to redeem and release twenty-five
(25) shares of RCA common stock, as the same was passed and
adopted in regular session on the 22nd day of June, 1993, by the
City Commission of the City of Delray Beach, Florida.
IN WITNESS WHEREOF, I have hereunto set my hand and the
official seal of the City of Delray Beach, Florida, on this the
25th day of June, 1993.
Alison M~cGregc~ Harty-1
City Clerk
City of Delray Beach, Florida
SEAL
KEANE TRACERS INC.
AUTHORIZATION TO REDEEM AND RELEASE
First Chicago Trust Company of New York
30 West Broadway
New York, NY 19003
Re: City of Delray Beach
Joseph Safford, authorized officer
Account No. 297512448
Social Security No.
CASE NO. 90-3203-A
Dear Sir/Madame:
I am the authorized officer of the captioned account and am making claim for the shares of stock described
below:
l~suer and Class Certificate Number(s} Number of Shares
RCA Common Unknown 25
(redeemed @ $66.50 per share)
/~ I cannot locate the shares of RCA. Please prepare Affidavits of Loss and Indemnity Agreements and forward
them to Keane Tracers, Inc.
/ / Enclosed you will find the RCA shares. Please proceed with the redemption.
Once the redemption has been completed, please issue the redemption proceeds in my name. Forward any
and all such cheeks to my attention care of Kome Trl~eers, Inc.. On~ T0w~r Brid~e. 100 Fron; Strevt, Suite 300,
West Conshohoeken. PA 19428-28~. Finally, change my address as set forth on your books and records to the
mailing address set forth below:
Mr. Joseph Safford
City Finance Director
100 NW 1st Avenue
Delray Beach, FL 33444
As evidence of the above mailing address, I am enclosing:
photocopy of my driver's license; voided personal check; photocopy of my utility bill.
AFFIX MEDALLION SIGNATURE GUARANTEE HERE ~ .
~ SIGNATURF_~GUARANTEED C~i,~DSe~raFyF~.,~cD[~ authori~e[t officc~r,.
/ I MEDAI~'IeIO~ ~UARANTEEO
L~~M BEACH COUNTY
NAME OF OUARANT~R
One Tower ~rid§e
~00 Front Street. Suite 300
West Consnoi"ocken PA '9428-2886
(215) $28-~888 FAX i2' 5) 828-0628
MEDALLION SIGNATURE GUARANTEE INSTRUCTIONS
To obtain an acceptable medallion signature guarantee, you should be aware of the following:
1. You can obtain an acceptable guarantee from:
a) a U.S. commerdal bank,
b) a U.S. savings bank,
c) a member firm of a national securities exchange (such as a major brokerage firm),
d) a foreign bank with a U.S. correspondent bank,
e) a federally chartered savings and loan association, or
f) a domestic credit union.
2. A notarized signature is not acceptable! A notarization is simply a witnessing of your
signature. A signature guarantee affu'ms that your signature matches that which the guaranteeing institution
has on file and that your signature is not a forgery.
3. To obtain the guarantee, you will need to take the unsigned document to the guaranteeing
institution. They will not gnaarantee your signature unless you sign in their pr~enc~. (Be sure to bring
the kind of personal identification that will aid in the process, i.e., photo driver's license, social
security card, birth cmificate, marriage license, etc...).
4. To be acceptable, the guarantee must contain the institution's Sl~ial medallion signature
guarantee stamp (which will contain the phrases "signature guaranteed" and "medallion guaranteed" along
with the name of the institution), and the institution's offidal seal.
5. A rubber address slamp is NOT acceptable as a substitute for the medallion guarantee stamp
or official seal.
6. To be acceptable, the guarantee must also include the signature of an officer or principal
of the institution signing in his or her official capacity. The name and title of the officer or principal should
be printed beneath his or her name.
7. The guarantee should not be dated or limited in any way.
KTRNC.(rev. 1/93)
KEANE TRACERS INC.
May 28, 1993
Mr. Joseph Safford
City Finance Director
100 NW 1st Avenue
Delray Beach, FL 3~.~.~,
CASE NO. 90-3203-A
Re: City of Delray Beach
Dear Mr. 5afford:
Thank you for your signed Agreement. I am pleased to provide you with the following
information.
City of Delray Beach is the registered owner of 25 shares of RCA Corporation common
stock. In 1986, RCA Corporation merged with General Electric. At the time of the merger, each
common share of RCA was called for a cash redemption of $06.50 per share. These shares must
now be redeemed.
To date, the original RCA stock certificates have not been presented for redemption. As
a result, the redemption proceeds, held on your behalf by General Electric, have been classified
as unclaimed and could possibly remit to state authorities under the abandoned property statutes.
In order in el_aim_ the redemption proc. e. eds, your original RCA Corporation stock must be
surrendered. Please review your financial records to determine the status of the original shares
and indicate such on the enclosed Authorization to Release. Please note, the Authorization
requires a signature 'medallion guarantee' so please be sure to read the enclosed list of
instructions carefully.
In addition, please execute lhe enclosed Form W-9, Corporate Re.~lution and
Authorization ~v Distribute. Please list yourself as an Officer, have the ~ and affix
the Corporate Seal. The Authorization will indicate your desire for the redemption's distribution.
Upon completion of all the documents, please return them to th/s office as soon as possible
so that I can take the steps necessary to secure the assets to wh/ch you are entitled.
Thank you. If you have any questions, please feel free to call me.
Sincerely,
MICHELLE A. MASUCCI
Processing Department
(Extension 3030)
MA.M/lag
· Encl.
One Tower Bridge
!00 Front Street. Suite 300
West ConshohocKep. PA ! 9428-2886
(2; 5} 828-~ 888 FAX (2 ! 5) 828-0628
90-3203
W'9 Request for Taxpayer G v. ,his form to
(~'~ m ~''~' ~ 9~ ~ Identification Number and Certification the requester. Do
Oeoe~ent o{ ,~e T~easun/ NOT send to IRS.
eternal Revenue Service
Name (If lomt names, list first and c~rcle the name 0t the person or entity whose numoer you enter ,n Part J Del0w See instructions on page 2 if your name has changed.)
~ City of Delray Beach; Joseph Safford, Authorized Officer I~us,ness name (Sole proonetors see ~nstruct~ons on page 2.)
E c/o Keane Tracers, Inc.
'"' Aclaress (number aha street) - L,st account numt)er~sl here [oo~ona0
~ One Tower bridge, Suite 300, 100 F~ont Street RCA Corporation
· City, state, and ZIP coae
~ Acct# 297512448
West Conshohocke~, PA 19428-2886
I;il Taxpayer Identification Number (TIN)/' I~-"~ill For Payees Exempt From
Enter your TIN in the appropriate box. For / Backup Withholding (See
.ndividuals. this is your social security number [So/d'~ security number instructions on page 2)
(SSN). For sole proprietors, see the instructions ~ ~+ ~ +
on page 2. For other entities, it is your employer ~".
identification number (EIN). tf you do not have a OR
number, see How To Obtain a TIN, below. Re<:luester's name ancl aOclress (optional)
Note: If the account is in more than one name, ] Employm' identification numl~er
seethechartonDage2forguidelinesonwhose ,5te+ 41 0101~ 131
number to enter.
Certification.--Under penalties of pequry, I certify that:
(1) The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me), and
(2) I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal
Revenue Service (IRS) that I am subiect to backup withholding as a result of a failure to redort all interest or dividends, or (c) the IRS has
notified me that I am no longer subiect to backup withholding.
Certification Instruction$.--You must cross out item (2) al3<3ve if you have been notified by the iRS that you are currently subiect to backup
withholding because of underreporting interest or dividends on your tax return. For real estate transactions, item (2) does not apply. For
mortgage interest paid. the, acquisition or abandonment of secured property, contnbutions to an individual retirement arrangement (IRA), and
generally payments other,than interest and dividends, you are not required to sign the Certification, but you must provide your correct TIN. (Also
see Signing the Ce .rt~f~t~age 2.) /
(Section references are to ~.~.~'hal Revenue 60 days to obtain a TIN ancl furnish ~t to the broker and barter exchange transactions, rents.
Co(/e.~ re(3uester. If the requester cioes not receive your royalties, nonemployee compensation, and
Purpose of FO~.--A person who is recluireq tO TIN within 60 days, backup withholding, if certain payments from fishing boat operators,
file an information return with the iRS must applicat:)le, will begin and continue until you but do not ~nclude real estate transactions.
obtain your correct TIN to report income paid to furnish your TIN to the requester. For reportable If you g~ve the requester your correct TIN,
you, real estate transactions, mortgage interest interest or dividend payments, the paye~ must make the appropnats certifications, and report
you Dasd, the acquisition or abandonment of exercise one of the following options concermng all your taxaDte interest and dividends on your
~ecured ~roDerty, or contributions you made to backuo withholding dunng th~s 60-day i:;enod, tax return, your payments wdl not be suDlect to
ah iRA. Use Form W-9 to furnish your correct Under option (1), a payer must backup w,thhold backup w~thholding. Payments you receive
TIN to the requester (the person asking you tO on any w~thdrawals yOu make from your account be suD~ect to backup withholding if:
furnish your TIN) and, when applicable, (1) to after 7 business days after the requester 1. You cio not furnish yOur TIN to the
certify that the TIN you are furnishing is correct receives this form back from you. Under Option requester, O~
(or that you are waiting for a number to be (2), the payer must backup withhold on any
issued), (2) to certify that you are not subject to reportable interest or dividend payments made 2. The iRS notifies the requester that you
backuD withholding, ancl (3) to claim exemption to your account, regardless of whaler you make furnishe~ an ,ncorrect TIN. or
from backup withholding if you are an exempt any withdrawals. The backup w,thholding under 3. You are notifieq 13y the iRS that you are
~ayee. Furnishing your correct TIN and making option (2) must 13egin no later than 7 business suDiect to backup withholding because you
the appropriate certifications will prevent certain days after ~e requester receives this form Deck. fa~leci to report all yOur interest and diwdands on
0aymants from being subject to backup Under option (2), the Dayer ,s requireq tO refund your tax return (for reportaDle interest and
withholding, the amounts withhetd if your certifieq T~N is dividends only), or
Note: If a requester gives you a forrn other than received within the 60-day period and you were 4. You f=,l to certify to the requester that you
a W-9 to request your TIN, you must use the not sul3ject to 13ackup withholding dunng that are not subiect to backup withholding under (3)
requester's form. pe~o~J, above (for reportaDle interest and dividend
How To Obtain a TIN.--lf you do not have a Note: Writing ~A~l~lied for" on the form means accounts oper~eq after 1983 only), or
TIN, al)ply for one immeqiately. To apply, get that you have alrea~/aDpfieO for a T;N OR that 5. You fail to certify your TIN. This applies only
Form ,~.$, Application for a Social Security you intend to aoMy for one in the near future, to reoortal:)le interest, dividend, broker, or Dm'tar
Number Card (for individuals), from your local As soon as you receive your TIN, complete exchange accounts opened after 1983, or broke~
office of the Social Security Administration, or another Form W-9, include your TIN, sign and accounts conS~dere<::l inactive in 1983.
Form $S-4, Application for Employer date the form, and give it to the recluester. Except as ex01='necl in (5) above, other
Identification Number (for I:)usinesses and all What Is Backup Withhotding?.--Parsons making reportal31e payments are Subiect to backup
other entitles), from your local IRS office, c. ertain ~ayments to you are required to withhold withholding only if (1) or (2) aDove applies.
To complete Form W-9 if you do not ~ave a and pay to the IRS 20% of such payments Ce~.a]n Dayeas an(3 Payments are exern~)t from
TIN, write "Applied for" in the space for the TIN under certain conditions. This is calle<~ 'Dackuo backup withholding ancl information reporting.
in Part I, sign and (:late the form, and give it to w~thholcling." Payments that could be subject to See Payees and Payments Exempt From
the requester. Generally, you will then have backu~ withholding ,nclude ,nterest, Oividends.
Cat. No. 10231x Form W-9 (Rev. 9-91)
AUTHORIZATION TO DISTRIBUTE
I, JOSEPH SAFFORD, authorized officer for the City of Delray Beach, desire an
immediate distribution once the redemption check is in Keane's possession. Accordingly,
I hereby authorize Keane to endorse the RCA check(s) in the Amount of $1062.50 drawn
from Accotmt 1~o. 297512448. It is understood that Keane will then deduct its fee of
$371.88 and forward the balance to my attention.
[ ] I, IOSEPH SAFFORD, authorized officer for the City of Delray Beach, wish to pay
Keane by personal check in the amount of $371.88 once the redemption check is in
Keane's possession. Keane will then forward the original redemption check to my
attention.
CASE NO. 90-3203-A