R 2261
3
RESOLUTION NO. 2261
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
')F ARROYO GRANDE AUTHOR I ZING THE DEPOS I T OF
CITY FUNDS IN VARIOUS LOCAL BANKS AND SAVINGS
INSTITUTIONS.
WHEREAS, the City of Arroyo G,ande normally has excess monies not currently
needed to-pay operating expenditures, and such excess 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 Counci I 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 A. Davis, City Clerk; Frances V. Gordon, Accounting
Supervisor, andJoAnn 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, 93420.
BE IT FURTHER RESOLVED, that this Resolution supercedes Resolution 1804
dated October 9, 1984.
On Motion of Counci I Member Moots , seconded by Council Member Johnson,
and on the following roll call vote, to wit:
AYES: Council Members Moots, Johnson, Porter, Millis and Mayor Mankins
NOES: None
ABSENT: None
the foregoing Resolution was passed and adopted the25thday of October, 1988.
~.~~:~ ~ ~~.:....,
MAYOR
ATTEST: ~ CI., ~
CITY CLERK
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. 2261 is a true, full and
correct copy of said Resolution passed and adopted at a regular meeting
of said Council on the 25th day of October, 1988.
WITNESS my hand and the Seal of the City of Arroyo Grande affixed
this 28th day of October, 1988.
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CITY CLERK