2021-28 RESOLUTION NO. 2021-28
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GRAND
TERRACE, CALIFORNIA, AUTHORIZING SIGNERS FOR THE
ARROWHEAD CREDIT UNION ACCOUNTS
WHEREAS, the City of Grand Terrace ("City") is a municipal corporation
established under the laws of the State of California; and
WHEREAS, the Arrowhead Credit Union is a not-for-profit financial cooperative
established in 1949 and is governed by state credit union laws and regulations. The
Arrowhead Credit Union is a cooperative, not-for-profit financial institution organized to
promote thrift and provide credit to members; and
WHEREAS, the City periodically needs to update its authorized signers with the
Arrowhead Credit Union; and
WHEREAS, the City Council designates the Interim City Manager and Interim
Finance Director as authorized signers on Arrowhead Credit Union accounts; and
WHEREAS, authorized signers will have the authority to deposit and withdraw
funds with the Arrowhead Credit Union on behalf of the City; and
WHEREAS, deposits may only come from and withdrawals may only be made by
designated, authorized signers on the account; and
WHEREAS, Arrowhead Credit Union requires the City to adopt a corporate
resolution and authorization to designate authorized signers on bank accounts;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Grand
Terrace, as follows:
Section 1. All previous resolutions of designated authorized signers with the
Arrowhead Credit Union are hereby revoked.
Section 2. Authorized account signers on Arrowhead Credit Union accounts are
as follows:
Position Individual Name
Interim City Manager G. Michael Milhiser
Interim Finance Director Terry Shea
CC Reso No. 2021-28 Page 1 of 2 August 10, 2021
Section 3. Any one of the individuals named as an authorized signer acting on
behalf of the City of Grand Terrace is authorized to initiate transactions and execute
documents on behalf of the City.
Section 4. Any two of the individuals named as authorized signers acting on
behalf of the City of Grand Terrace are authorized to sign checks on behalf of the City.
Section 5. Interest payments, withdrawals and matured investments may only be
transferred to an account of the City or paid by written demand to the City.
Section 6. This Resolution shall take effect immediately upon its adoption and the
City Clerk shall certify to the passage and adoption of this Resolution, and it shall take
effect and be in force.
PASSED, APPROVED AND ADOPTED by the City Council of the City of Grand
Terrace, California, at its regular meeting held on the 10th day of August 2021.
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ATTEST:
e b r a L4To s
City Clerk
APPROVED AS TO FORM:
Adrian Guerra
City Attorney
CC Reso No. 2021-28 Page 2 of 2 August 10, 2021
STATE OF CALIFORNIA )
COUNTY OF SAN BERNARDINO )
CITY OF GRAND TERRACE )
I Debra L. Thomas, City Clerk of the CITY OF GRAND TERRACE, CALIFORNIA,
DO HEREBY CERTIFY that the foregoing Resolution, being Resolution No. 2021-28
was duly passed, approved and adopted by the City Council, approved and signed by
the Mayor, and attested by the City Clerk, at the regular meeting of said City Council
held on the loth day of August 2021, and that the same was passed and adopted by the
following vote:
AYES: Council Members Allen, Wilson, Robles; Mayor McNaboe
NOES: None.
ABSENT: Mayor Pro Tern Hussey
ABSTAIN: None.
Executed this 12th day of August 2021, at Grand Terrace, California. _
ebra L. Thomas � -
City Clerk J _