2021-34 RESOLUTION NO. 2021-34
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 ("City") 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 and Interim Finance
Director as authorized signers on the US Bank Safekeeping bank account; and
WHEREAS US Bank requires the City to adopt a corporate resolution and
Authorization to designate authorized signers on such 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 US
Bank are hereby revoked.
Section 2. Authorized signers on US Bank accounts are as follows:
Position Individual Name
Interim City Manager G. Michael Milhiser
Interim Finance Director Terry Shea
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.
CC Reso No. 2021-34 Page 1 of 2 August 10, 2021
Section 5. This Resolution shall take effect immediately upon its adoption and
the City Clerk shall certify to the adoption of this Resolution.
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.
Darc Mc
• Mayor
ATTEST:
ebra4LIh�b6mas
City Clerk
APPROVED AS TO FORM:
Adrian Guerra
City Attorney
CC Reso No. 2021-34 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. 2021-34
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 10th 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.
IVA— &U�/
ebra L. Thomas
City Clerk -_