HomeMy WebLinkAboutRES NO 086-17RESOLUTION NO
086- 17
A RESOLUTION OF THE BAKERSFIELD CITY COUNCIL
AUTHORIZING DEPOSITING OF FUNDS
WHEREAS, California Government Code 53679 stipulates that money not
under control of the treasurer but belonging to a local agency and under the
control of any of its officers or employees other than the treasurer may deposit
as active deposits or inactive deposits; and
WHEREAS, for deposits in excess of the amount insured under any federal
law, a contract in accordance with Section 53649 is required; and
NOW THEREFORE, BE IT RESOLVED by the Council of the City of Bakersfield
as follows:
1. The above recitals and findings are true and correct.
2. The officer now or subsequently holding the position of Finance
Director for the City of Bakersfield is authorized by the Governing
Board under California Government Code sections 53679 and 53649
to enter into any contract with Union Bank, N.A. relating to any
deposit, which in his or her judgment is to the public advantage.
Contracting requirements could include:
• Establish bank accounts and services.
• Sign, or change in writing, agreements with the Bank regarding the
Public Entity's bank deposit relationship.
• Specify in writing to the Bank the individuals who are authorized in
the name of and on behalf of the Public Entity to:
• Withdraw funds from any of the Public Entity's banking
accounts on the Public Entity's checks or orders.
• Endorse and deliver to the Bank, for any purposes, and in
any amount, negotiable or non - negotiable items of any
kind, and owned by, or held by, or payable to the Public
Entity.
• Send, review and /or authorize wire and electronic transfers
of funds from the Public Entity accounts. Such authority may
be exercised by such authorized individual acting alone,
regardless s of any multiple signature requirements otherwise
applicable to the accounts.
• Otherwise access the Public Entity's deposit accounts.
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ORIGINAL
3. This authority has been granted by the City Council and shall remain
in effect until the Bank receives written notice of revocation at the
Office where the Public Entity's banking relationship is maintained.
I HEREBY CERTIFY that the foregoing Resolution was passed and adopted
by the Council of the City of Bakersfield at a regular meeting thereof held on
by the following vote:
✓ ✓ ✓ ✓ ✓
AYES COUNCILMEMBER RIVERA, GONZALES, WEIR,WffH, FREEMA , SULLIVAN, PARLIER
NOES: COUNCILMEMBER WZ \Q-
ABSTAIN: COUNCILMEMBER
SENT: COUNCILMEMBER mI , 47 e-kmQ r.
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CHRISTOPIIIER GERRY
ACTING CITY CLERK and Ex Officio Clerk of
the Council of the City of Bakersfield
APPROVED A19Rill
By - �: J4
KAREN GOH, Mayor
City of Bakersfield
APPROVED as to form:
VIRGINIA GENNARO
City Attorney /
By ✓�
OSHUA H. RUDNICK
Deputy City Attorney
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