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HomeMy WebLinkAboutRES NO 88-68RESOLUTION NO. 88-68 RESOLUTION AUTHORIZING THE SIGNING OF CHECKS DRAWN ON CITY OF BAKERSFIELD '~CTIVE ACCOUNTS" WITH BANKS AND FOR TRANSFERRING FUNDS BETWEEN BANKS AND FOR PURCHASING AND SELLING U. S. TREASURY OBLIGATIONS. WHEREAS, the City Council of the City of Bakersfield deems it advisable, economical and expedient to change its system of deposit and withdrawal of funds at all banks with which the City maintains bank accounts. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF BAKERSFIELD, as follows: 1. All banks with which the City of Bakersfield maintains bank accounts, including their corresponding banks, are hereby requested, authorized and directed'to honor and pay all checks drawn in the name of the City of Bakersfield when such checks bear the personal or facsimile signatures of the City Finance Director and City Cash Management Supervisor; or when such checks bear the personal signatures of their authorized assistants and are drawn upon "Active Accounts" designated on said checks. 2. All banks with which the City of Bakersfield maintains accounts, are authorized and directed to transfer funds deposited in the City of Bakersfield's "Inactive Accounts" or "Active Accounts" maintained in said banks to any other City of Bakersfield bank account, in requested amounts, upon telephone instructions, on the day of the telephone call, with acknowledgment to the City by mail, when such instructions are made by the City Finance Director or the City Cash Management Supervisor. 3. All banks are authorized and directed to immediately purchase or sell for the City of Bakersfield, upon telephone instructions, the requested amount Of U. S. Treasury obligatiohs, with acknowledgment to the City by mail, when such instructions are made by the City Finance Director or the City Cash Management Supervisor. o0o ...... 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 the 30th day of September, 1968, by the following vote: AYES: COUNCILMEN HEISEY, HOSKING, REES, RUCKER, STIERN, VETTER, ~I~.,F.M.~E ABSTAINING COUNCILMEN: Ex~O'ffi~~k of the Council of the City of Bakers field APPROVED t, hi~ .p,O,,t~h,'day of September, ,, th~'~Cit~,,'~f Bakers field APPROVED: