R 2898
RESOLUTION NO. 2898
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ARROYO GRANDE AUTHORIZING THE DEPOSIT OF
CITY FUNDS IN VARIOUS LOCAL BANKS AND SAVINGS
INSTITUTIONS.
WHEREAS, the City of Arroyo Grande normally has excess monies
not currently needed to pay operating expenditures, and such excess
L monies are currently deposited by prior agreement with various
local banks and savings institutions, plus the State Local Agency
Investment Fund;
NOW, THEREFORE, BE IT RESOLVED by the city council of the city
of Arroyo Grande as follows:
1. That the Arroyo Grande city Finance Director is
hereby authorized to enter into agreements to deposit or
withdraw money with various local Federal or State chartered
and insured banks and savings institutions, upon determination
of financial soundness of such financial organizations.
2. That David E. Bacon, city Finance Director; Chris
Christiansen, city Manager; Nancy Davis, City Clerk; Janet M.
Huwaldt, Accounting Supervisor; and JoAnn Wizemann, city
Treasurer, are hereby authorized to order the deposit or
withdrawal of the City of Arroyo Grande money in such local
banks and savings institutions on behalf of the City of Arroyo
Grande, P.O. Box 550, Arroyo Grande, California, 93421.
3. That position successors to the named individuals in
number 2. above are hereby authorized to order the deposits
and withdrawals in like manner, on behalf of the city of
Arroyo Grande.
BE IT FURTHER RESOLVED, that this Resolution supercedes .,
- Resolution 2261 dated october 25, 1988.
On Motion of council Member Dougall , seconded by
Council Member Smith and on the following roll call
vote, to wit:
AYES: council Members Dougall, Smith, Gallagher, Moots and
NOES: None Mayor Millis
ABSENT: None
the foregoing Resolution was passed and adopted the 26th day
of November, 1991.
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MAY v
ATTEST: ~ a. ~
CITY CLE '
I, NANCY A. DAVIS, City Clerk of the city of Arroyo
Grande, County of San Luis Obispo, State of California, do
hereby certify under penalty of perjury that the foregoing
-- Resolution No. 2898 is a true, full and correct copy of said
Resolution passed and adopted at a regular meeting of said
Council on the 26th day of November, 1991.
. WITNESS my hand and Seal of the city of Arroyo Grande
affixed this 3rd day of December, 1991.
,a. ~
CITY CLE