2014-03 RESOLUTION NO. 2014- 03
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 Interim City Manager, Finance Director and
Principal 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 as follows:
Position Individual Name
Interim City Manager Kenneth J. Henderson
Finance Director Cynthia A. Fortune
Principal 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
4 transferred or paid to bank accounts in the name of the City of Grand Terrace.
RESOLUTION NO. 2014- 03
Page 2
PASSED, APPROVED AND ADOPTED this 281" day of January, 2014.
ATTEST:
City Clerk of the City of Grand Terrace Mayor of the City of Grand Terrace
I, Charlene L. Sherwood. Interim , City Clerk of the
City of Grand Terrace, do hereby certify that Resolution No. 2014-03 was
introduced and adopted at a regular meeting of the City Council of the City of Grand
Terrace, on the 28`h day of January, 2014, by the following vote:
AYES: Council Members McNaboe, Mitchell, Robles and Mayor
Stanckiewitz
NOES: None
ABSENT: None
ABSTAIN: None
City Clerk
( Approved as to form: p
Ci ttorney