HomeMy WebLinkAbout7676RESOLUTION NO. 7676
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDLANDS
DESIGNATING AUTHORIZED SIGNERS FOR INVESTMENT ACCOUNTS
AND AUTHORIZING THE MAYOR TO EXECUTE SUBSTANTIALLY
SIMILAR RESOLUTIONS FOR THE OPENING OF ADDITIONAL
INVESTMENT ACCOUNTS WITH BROKER/DEALERS AND FINANCIAL
INSTITUTIONS AS RECOMMENDED BY THE CITY TREASURER AND
RESCINDING RESOLUTION NO. 7246
WHEREAS, from tune to tune City Officials and staff determine that it is in the best interest
of the City to establish accounts with financial institutions for the purpose of investing City funds; and
WHEREAS, to ensure that the City's funds are invested on a tunely basis in a mariner that
provides prudent safety and a reasonable rate of return, it is often necessary for City Officials and staff
to open such accounts on an expedited basis; and
WHEREAS, it is the custom and practice of financial institutions to require that the
authorized signers on investment accounts be approved by the City using forms of "resolutions"
prepared by such institutions: and
WHEREAS, through the adoption of this resolution, it is the desire of the City Council of the
City of Redlands to designate certain City Officials as authorized signers for suchinvestinent accounts
and to authorize the Mayor, on behalf of the City Council, to execute forms of "resolutions" prepared
and required by financial institutions relating to such designated authorized signers.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
REDLANDS AS FOLLOWS:
Section 1. The following City Officers shall be the authorized signers for investment accounts
established by the City:
Robert Dawes, City Treasurer
Jeanne Donaldson, City Clerk
Section 2. At the direction of the City Treasurer, the Revenue Manager will implement the
daily administration of the record keeping of the investment transactions.
Section 3. That the Mayor of the City is hereby authorized to execute, on behalf of the City
Council, forms of "resolutions" prepared and required by financial institutions for the establislunent of
investment accounts, provided the form and content of such "resolutions" have been reviewed and
approved of by the City Treasurer.
Section 4. That Resolution No. 7246 is hereby rescinded.
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ADOPTED, SIGNED AND APPROVED this 20th day of December, 2016.
Mayor
ATTEST:
Jea6k Donaldson, City Clerk
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I, Jeanne Donaldson, City Clerk of the City of Redlands, hereby certify that the foregoing
resolution was adopted by the City Council at a regular meeting thereof held on the 20th day of
December, 2016 by the following vote:
AYES:
Councilmembers Harrison, Gilbreath, Barich, Tejeda; Mayor Foster
NOES:
None
ABSTAIN:
None
ABSENT:
None
eanne Donaldson, City Clerk
4a
CITY OF REDLANDS
AUTHORIZED SIGNORS
December 20, 2016
Name:
Title:
Robert
Dawes
City Treasurer
Phone:
(909) 798-7591
e-mail:
rdawes@cityofredlands.org
Name:
Title:
Jeanne
Donaldson
City Clerk
Phone:
(909) 798-7531
e-mail:
idonaldson@cityofred lands. orq
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