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2012-43 4 RESOLUTION NO. 2012- 43 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GRAND TERRACE, CALIFORNIA, AUTHORIZING SIGNER FOR US BANK, SAFEKEEPING ACCOUNT WHEREAS, the City of Grand Terrace is a municipal corporation established under the laws of the State of California; and WHEREAS, the US Bank 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, signature card or notice of incumbency with US Bank; and WHEREAS, the City designates the City Manager, Acting City Manager, if so designated, City Clerk and Finance Director as authorized signers on the US Bank Safekeeping bank account; and WHEREAS US Bank requires the City to adopt a corporate resolution and authorization to designate authorized signers on such 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 US Bank are hereby revoked. Section 2 - Authorized signers on US Bank 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 investment held in US Bank Safekeeping account must be invested in accordance with permitted investments in California Government Code Sections 53601 and 53635. PASSED, APPROVED AND ADOPTED this 14" day of August, 2012 RESOLUTION NO. 2012 - 43 Page 2 ATTEST: 1 W City Clerk of the City of GraIRTerrace Mayor of th Cit rand Terrace I, TRACEY MARTINEZ, City Clerk of the City of Grand Terrace, do hereby certify that Resolution No. 2012-43 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`h 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 ABSTAIN: None City Cle urk Approved as to for City Attorney 4W