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: