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2013-03 RESOLUTION NO. 2013- ©3 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, City Clerk, Finance Manager and Accountant 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 Manager Cynthia A. Fortune Accountant Domilena R. Gonzales 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. RESOLUTION NO. 2013- 03 PASSED, APPROVED AND ADOPTED this 8th day of January, 2013. ATTEST: City"Clerk cAlie City of Gran rrace Mayor of the City of Grand Terrace I, TRACEY MARTINEZ, City Clerk of the City of Grand Terrace, do hereby certify that Resolution No. 2013-03 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 8th day of January, 2013, by the following vote: AYES: Councilmembers McNaboe, Mitchell and Robles; Mayor Pro Tem Sandoval and Mayor Stanckiewitz NOES: None ABSENT: None ABSTAIN: None City Clerk . Approved as orm. City Attorney