HomeMy WebLinkAboutCC Reso No 2015-095 City Council Reso.RESOLUTION NO. 2015 -095
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LAKE ELSINORE AUTHORIZING THE CITY MANAGER TO
ESTABLISH AGREEMENTS WITH A DEPOSITORY
INSTITUTION
WHEREAS, California Government Code 53679 stipulates that money not
under control of the Treasurer but belonging to a local agency and under the control of
any of its officers or employees other than the Treasurer may deposit funds as active
deposits or inactive deposits.
WHEREAS, when current bank accounts were established with Bank of
America, the City Manager was the authorized official to select the depository institution,
establish accounts, and designate certain officers holding specific titles to manage the
accounts.
WHEREAS, Bank of America notified the City that they will cancel all
services with the City of Lake Elsinore as of December 29, 2015.
WHEREAS, in accordance with the City Council Policy of the City of Lake
Elsinore, the City Treasurer has delegated the Treasurer's function and responsibility to
the City Manager or his designee for investing unexpended cash in the City Treasury.
WHEREAS, City Council does hereby authorize the City Manager as the
authorized officer to establish necessary bank accounts in a federally insured
commercial bank and is authorized to sign all banking documents to establish or change
these accounts.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKE
ELSINORE, CALIFORNIA, DOES HEREBY RESOLVE, DETERMINE AND ORDER AS
FOLLOWS:
SECTION 1. That the City Council authorizes the City Manager of the City
of Lake Elsinore to establish accounts with a federally insured commercial bank as
needed.
SECTION 2. That the City Council authorizes the City Manager to sign all
necessary documents to establish a depository for the City of Lake Elsinore.
City Council Resolution No. 2015 -095
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SECTION 3. That the City Council confirms that the officers holding the
title of City Manager and Director of Administrative Services or their successors in office
are each hereby authorized to order deposits or withdrawal of monies in the depository
institution selected.
SECTION 4. That the City council authorizes the City Manager or Director
of Administrative Services to specify the individuals who are authorized in the name of
and on behalf of the City Lake Elsinore to manage banking transactions.
SECTION 5. This resolution shall remain in full force and effect from and
after the date of its passage and adoption.
PASSED, APPROVED AND ADOPTED at a regular meeting of the City
Council of the City of Lake Elsinore, California, this 8th day of December, 2015.
PASSED, APPROVED AND ADOPTED at a regular meeting of the City
Council of the City of Lake Elsinore, California, this 8t" day of December,
2015.
ATTEST:
Susan M. Domen, MMC
City Clerk
APP OVED A5 T FO
Barbara Leibold, City Attorney
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF LAKE ELSINORE )
I, Susan M. Domen, City Clerk of the City of Lake Elsinore, California, do hereby certify
that Resolution No. 2015 -095 was adopted by the City Council of the City of Lake
Elsinore, California, at a special meeting held on the 8th day of December 2015, and
that the same was adopted by the following vote:
AYES: Council Member Magee, Council Member Johnson, Mayor Pro Tern Tisdale,
And, Mayor Manos
NOES: None
ABSENT: Hickman
ABSTAIN: None
Susan M. Domen, City Clerk