HomeMy WebLinkAbout8539RESOLUTION NO. 8539
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. 7676
WHEREAS, from time to time 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 timely basis in a manner 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 such investment
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:
Phillip Doolittle, City Treasurer
Danielle Garcia, Management Services/Finance Director
James Garland, Assistant Finance Director
Aimee Hoover, Revenue Supervisor
Section 2. At the direction of the City Treasurer, the Revenue Supervisor 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
establishment of investment accounts, provided the form and content of such "resolutions" have
been reviewed and approved of by the City Treasurer.
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Section 4. That Resolution No. 7676 is hereby rescinded.
ADOPTED, SIGNED AND APPROVED this 19th day of December 2023
Eddie Tejeda, Mayor
ATTEST:
anne Donaldson, City Clerk
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I, Jeanne Donaldson, City Clerk of the City of Redlands, hereby certify that the foregoing
Resolution was duly adopted by the City Council at a regular meeting thereof held on the 19th day
of December 2023, by the following vote:
AYES: Councilmembers Barich, Davis, Guzman -Lowery, Saucedo; Mayor Tejeda
NOES: None
ABSENT: None
ABSTAINED: None
0"t‘Ij
Donaldson, City Clerk
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CITY OF REDLANDS
AUTHORIZED SIGNORS
December 19, 2023
Name: 7 f
Title:
City Treasurer
�
Phillip Doolittle
Phone: (909) 798-7591
e-mail: pdoolittle(rDcityofredlands.org
Name:
Title:
Management Services/Finance Director
Danielle Garcia
Phone: (909) 798-7507
e-mail: dgarcia@cityofredlands.org
Name:
James land
Title:
Assistant Finance Director
Phone: (909) 335-4776
e-mail: james.garland@cityofredlands.org
Name:
Aimee Hoover
Title:
Revenue Supervisor
Phone: (909) 798-7596
e-mail: ahoover@cityofredlands.org
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