2009-38 RESOLUTIDN NO. 2009-38
A RESOLUTION OF TF E CITY COUNCIL OF THE
CITY-OF GRAND TERRACE, CALIFORNIA,AUTHORIZING
SIGNER FORBBVA BANC DMER,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 i; 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:
1) All previous.resolutions of designated authorized signers with BBVA Bancomer USA
-are hereby revoked.
2) Authorized signers on BBVA Bancomer USA accounts are:
Position Individual Name
City Manager (Vacant)
Acting City Manager Bernard Simon
City Clerk Brenda Mesa
Finance Director Bernard Simon
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.
4)Authorized amount of investment is $250,000 or the federally insured limit which ever
is less.
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..
APPROVED AND ADOPTED this I Ith day of August, 2009
Ayes: Councilmembers Cortes, Miller and-Stanckiewitz; Mayor Pro Tem Garcia
and Mayor Fer.re
Noes: None
Abstain: None
Absent: None
May
ATTEST:
City Clerk