2014-09 RESOLUTION NO. 2014-09
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GRAND
TERRACE, CALIFORNIA, AUTHORIZING SIGNERS 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 Interim City Manager, Finance Director and
Principal Accountant as authorized signers on the US Bank Safekeeping bank account;
and
WHEREAS US Bank requires the City to adopt a corporate resolution and
4 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 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 investment held in US Bank Safekeeping account must be
invested in accordance with permitted investments in California Government Code
Sections 53601 and 53635.
liliw RESOLUTION NO. 2014-09
Page 2
PASSED, APPROVED AND ADOPTED this 281" day of January, 2014.
ATTEST:
t�
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. 2014-09 was
introduced and adopted at a regular meeting of the City Council of the City of Grand
Terrace, on the 28`" day of January, 2014, by the following vote:
AYES: Council Members McNaboe, Mitchell, Robles and Mayor
Stanckiewitz
NOES: None
ABSENT: None
ABSTAIN: None
City . rXate , �lCa2c
City Clerk
Approved as to form:
V�
Ci Attorney