2012-42 4r RESOLUTION NO. 2012-42
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GRAND
TERRACE, CALIFORNIA, AUTHORIZING SIGNER FOR BBVA
BANCOMER, USA BANK ACCOUNT
WHEREAS, the City of Grand Terrace is a municipal corporation established
under the laws of the State of California; and
WHEREAS, the BBVA Bancomer USA is a federally chartered bank under the
laws of the United States; and
WHEREAS, the City of Grand Terrace needs to update its deposit agreement
and signature card with BBVA Bancomer USA; and
WHEREAS, the City designates the City Manager, Acting City Manager, if so
designated, City Clerk and Finance Director as authorized signers on the BBVA
Bancomer USA bank accounts; and
WHEREAS BBVA Bancomer USA requires the City to adopt a corporate
resolution and authorization to designate authorized signers on bank accounts;
THEREFORE, THE CITY COUNCIL OF THE CITY OF GRAND TERRACE HEREBY
RESOLVES THE FOLLOWING:
Section 1 - All previous resolutions of designated authorized signers with BBVA
Bancomer USA are hereby revoked.
Section 2 - Authorized signers on BBVA Bancomer USA accounts are:
Position Individual Name
City Manager Betsy Adams
City Clerk Tracey R. Martinez
Finance Director Bernard Simon
Section 3 - Any one of the individuals named as authorized signers acting on
behalf of the City of Grand Terrace is authorized to execute documents on behalf of the
City.
Section 4 - Authorized amount of investment is $250,000 or the federally insured
limit which ever is less.
Section 5 - Interest payments, withdrawals and matured investments may only to
transferred or paid to bank accounts in the name of the City of Grand Terrace.
t RESOLUTION NO. 2012- 42
4r PASSED, APPROVED AND ADOPTED this 14th day of August 2012.
ATTEST:
%
City Clerk f the City of Gra ,'Terrace Mayor Kof the ity of Grand Terrace
I, TRACEY MARTINEZ, City Clerk of the City of Grand Terrace, do hereby certify
that Resolution No. 2012-42 was introduced and adopted at a regular meeting of
the City Council, as the Successor Agency of the former Grand Terrace Community
Redevelopment Agency, on the 14 day of August, 2012, by the following vote:
AYES: Councilmembers Sandoval, Hays and MCNaboe; Mayor Pro Tem Garcia and
Mayor Stanckiewitz
NOES: None
ABSENT: None
S ABSTAIN: None
` ' r
City Clerk
Approved as form:
ity Attorney
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