2016-08 RESOLUTION NO. 2016-08
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 City Manager, Finance Director and
Principal Accountant as authorized signers on Arrowhead Credit Union accounts; and
WHEREAS, authorized signers will have the authority to depos& nd withdraw funds
with the Arrowhead Credit.Union on behalf of the City; and
WHEREAS, deposits may only come from and withdrawals may 6nly Abe mace 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, THE CITY COUNCIL OF THE CITY OF GRAND TERRACE,
CALIFORNIA, DOES RESOLVE, DECLARE, DETERMINE AND ORDER 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
City Manager G. Harold Duffey
Finance Director Cynthia A. Fortune
Principal Accountant Domilena R. Gonzales
C
RESOLUTION NO. 2016-08 PAGE 1 OF 2 APRIL 12, 2016
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. 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 this 12th day of April, 2016.
Dar McN b e, or
A EST:
Pat Jab?, - es;- ty"Cl rk
I, Pat Jacquez-Nares, City Clerk of the City of Grand Terrace, do hereby certify that
Resolution No. 2016-08 was introduced and adopted at a regular meeting of the City Council of
the City of Grand Terrace held on the 12th day of April, 2016,by the following vote:
AYES: Council Members Hussey, Wilson, Mitchell, Mayor Pro Tern Robles,
Mayor McNaboe
NOES: None
ABSENT: None
ABSTAIN: None
Approved as to form:
at Ja - res,ey C erk Richard L. Adams II, City Attorney
RESOLUTION NO. 2016-08 PAGE 2 OF 2 APRIL 12, 2016