SR-200-000
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MAR 1 3 1984
'2PP- oC>O
FI: KW: lrk
Council Meet~ng March 13, 1984
Santa Monica, Californ~a
TO: Mayor and C1ty Counc~l
FROM: City Staff
SUBJECT: Resolution Author~zing Change of S1gnature on
Resolution Deal~ng With Author1zations and Investments
of City Funds
Introduction
Due to the ret1rement of an employee, a new resolut~on
author~z1ng certa~n officers and employees to enter the C1ty'S
safe deposit box at the First Interstate Bank 1S necessary.
Additionally, due to the availability of add1tional banks, the
list of authorized banks for C~ty 1nvestments should be updated.
Recommendation
It is respectfully recommended that City Counc1l
authorize Charles M. Dennis, Director of Finance/City Controller,
or Kay Watanabe, City Treasurer, jointly w1th Will1am R. Ramsey,
Ass1stant Director of Flnance or Glenn P. Cordes, Ass1stant City
Treasurer,
or
Esmeralda
Kelley, Superv~s1ng Fiscal Staff
Assistant 1n the Treasurer's off~ce be authorized to enter the
City's safe deposit box (boxIB") at the F1rst Interstate Bank.
It 1S also respectfully recommended that City Council author1ze
the placement of C~ty funds at any of the follow~ng additional
banks and Savings and Loan Associations should it be to the
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MAP. 1 3 1984
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City's financial lnterests to do so (e.g. these banks might offer
very competetive Cert1flcate of Deposits Interest rates). This
wlll enable the City Treasurer to take advantage of financial
sltuat10ns advantageous to the City ln a tlmely manner. These
additional financial institutlons are: Columbia Natlonal Bank,
Olympic
Columbla
National
Bank, Centurlon Savings
and Loan Assoclatlon,
and
Loan
Savlngs and Loan
Association;
Assoclatlon; Flde11ty Federal Savlngs
Flrst Nationwide Savings and Loan
Assoclatlon (formerly Citizens Savlngs and Loan Association);
Mercury Savings and Loan Association, Provident Savlngs and Loan
ASSoclation, Sears Savlngs Bank.
Prepared by: Kay Watanabe
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BEFORE DISTRIBUTION CHECK CONTENT OF ALL FQR CITY C~ERK'S ACTION
DISTRI~UTION OF RESOLUTION # ORDINk~CE #
Councll Neetlng Date
~ -I ~ --i '71"
Introduced;
Agenda Item if
( -(~
Adopted;
* ALl"'l':AYS Pl13LISH l~.DOPTED ORDI~\CES
") L'f:' ,,- L.U~'-
Was lt amended?
VOTE:
Afflrnatlve,
NegatIve'
Abstain'
Absent-
i1 " A; _ --.J-
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}."?\.- _ II
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DISTRIBUTION"
ORIGI~AL to be signed, sealed and flIed in Vault
NEKSPAPER PUBLICATIO~ (Date:
)
)
Department originating staff report (
Management Services Lynne Barrette Ordinances only
1.
Agency mentIoned In document or staff report
(certified?)
Subject file (agenda packet) 1
Counter file 1
Others:
Airport Parking Auth.
Auditoru71 Personnel
Building Dept. Planning
EnvIron, Servo Police (en-
forcement?)
Finance
Purchasing
FIre
Recr/Parks
General Servo
TransportatIon
LIbrary I
Treasurer
Manager
SE~D Fnu~ COPIES OF ALL ORDI~ANCES TO:
COD~D SYSTE~IS, At~n PeteY Maclearle
12 0 ~'!ain <:t r~et
AV0~. Ne~ Jersey_D771?
I . .
SE\'D FOUR COPIES OF ALL ORDT\':1\'rFS ~TO:
PRESIDING JUDGE
SA~TA ~O~ICA ~U~ICIPAL COURT
l 725 ~fAI;'; STREET
SANTA MONICA, CA 90401
TOTAL COPIES
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Council Meeting ~ 13, 1984
RESOLUTION NO.
Sant~ica, California
6839(CCS)
(City Council Series)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF Sk~TA MONICA AUTHORIZING THE
ESTABLISHMENT, USE AND INVESTMENT OF ONE OR
MORE DEPOSIT ACCOUNTS WITH CERTAIN BANKS AND
SAVINGS AND LOAN' ASSOCIATIONS: AUTHORIZING
FACSIMILE SIGNATURES BY CHARLES M. DENNIS &~D
KAY WATANABE: AND AUTHORIZING CERTAIN
OFFICERS ~~D EMPLOYEES TO ENTER SAFE DEPOSIT
BOX "B" AT THE FIRST INTERSTATE BANK
THE CITY COUNCIL OF THE CITY OF SANTA MONICA DOES
RESOLVE AS FOLLOWS:
SECTION 1. That the City of Santa Monica, a munlcipal
corporation establishes in its name one or more deposit accounts
wlth the Alliance Bank of Culver City, American City Bank,
Amerlcan Pacific State Bank, Bank of America National Trust and
Savings Association, Bank of Beverly Hills, Bank of Marina del
Rey, Brentwood Bank, California First Bank, California Korea
Bank, Century Bank, City National Bank, Chase Manhattan Bank, New
York, New York, Columbia National Bank, Crocker National Bank,
Flrst Pacific Bank, First Women's Bank of California, Golden
State Sanwa Bank, Imperial Bank, Lloyds Bank of California,
~anufacturers Bank. Olympic National Bank, Republic Bank, Santa
~1onica. Bank, Security Paclfic National Bank, Sumitarro Bank of
Callfornia, Union Bank, First Interstate Bank, Wells Fargo Bank,
and Western Bank of COITmerce upon such terms and candltions as
are prov1ded by the Statutes of the State of California governing
publlC
deposits~ and that Charles M. Dennis, Director of
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Finance/Clty Controller, and Kay Watanabe, City Treasurer, be and
they hereby are author1zed by establishing such accounts.
SECTION 2.
That the City of Santa Monica, a municipal
corporation, establishes in its name one or more deposit accounts
wlth American savings and Loan Association, Bel-Air Savings and
Loan Association Beverly Hills Savings and Loan Association,
Brentwood
Savlngs and Loan Association,
California Federal
Savings and Loan, Centurion Savings and Loan Association, Century
Federal Savings and Loan Association,
Coast Federal Savings and
Loan Association, Columbia Savings and Loan Association, Culver
Federal Savings and Loan Association,
Far Wast Savings and Loan
Assoclation, Fidelity Federal Savings and Loan Association, First
Federal
Savings
Bank,
First Nationwide Savings and Loan
Association,
Gibraltar Savings and Loan Association, Glendale
Federal
Savings and Loan,
Great Western Savings and Loan
associatlon, Hawthorne Savings and Loan Association, Home Federal
Savlngs
and
Loan
association,
Imperial Savings and Loan
Association,
Lincoln Savings and Loan association, Los Angeles
Federal Savings, Marina Federal Savings, Mercury Savings and Loan
Association,
Pacific Federal Savings and Loan Association,
Perpetual Savings and Loan Association, Provident Federal Savings
and Loan Association,
Sears Savings Bank, Southern California
Savlngs
and Loan Asssociation,
Southwest Savings and Loan
Assoclation, Westdale Savings and Loan, Western Savings and Loan,
and World Savings and Loan Association, upon such terms and
condltions as are provided by the Statutes of the State of
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Californla governing public deposits~ and that Charles M. Dennis,
Dlrector of Finance/City Controller, and Kay Watanabe, C1ty
Treasurer, be and they hereby are authorized by establishing such
accounts.
SECTION 3. That Charles M. Dennis, Director of
FinancejCity Controller, and Kay Watanabe, City Treasurer, be and
they hereby are authorized to withdraw funds from said accounts
upon warrants and/or checks signed as provided herein with
slgnatures duly certified to said banks by the City Clerk of the
City of Santa Monica, and said banks are hereby authorized to
honor and pay any and all warrants and/or checks signed,
includlng those drawn to the individual order or any officer or
other person authorized to sign the same.
SECTION 4. That the Santa Monica office of the Santa
Monica Bank, First Interstate Bank, the Bank of America National
Trust and Savings Association, as designated depositories of the
Clty, be and they, including their correspondent banks, hereby
are requested, authorized, and directed to honor all checks,
drafts, or other orders for the payment of money drawn to the
lndivldual order of any person or persons whose names appear
thereon as signer or signers thereof, when bearing or purporting
to bear the facsimile signatures of Charles M. Dennis and Kay
Watanabe in lieu of said person's manual signature; provided that
all previous authorizations for the signing and honoring of
checks, drafts, or other orders for the payment of money drawn on
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sald banks by the City hereby are continued in full force and
effect as amplified hereby.
SECTION 5. That the City of Santa Monica, a municipal
corporatJ.on, has rented safe deposit box "B" at the First
Interstate
Bank,
and that Charles M. Dennis, Director of
Finance/City Controller, or Kay Watanabe, City Treasurer, jointly
with Willian R. Ramsey, ASslstant Director of Finance, or Glenn
P. Cordes, Assistant Clty Treasurer, or Esmeralda Kelley, be and
they are hereby authorized to enter said safe deposit box.
SECTION 6. The provisions of this Resolution shall be
effective February 28, 1984.
Resolution Number 6691 {ces} and
all other Resolutions in conflict herewith are repealed effective
February 28, 1984.
SECT ION 7.
The City Clerk shall certify to the
adoption of this Resolution, and thenceforth and thereafter the
same shall be in full force and effect.
APPROVED AS TO FORM:
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Pobert M. t-1yers
City Attorney
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ADOPTED AND APPROVED THIS
13th
DAY
OF
March
, 1 984 .
rt::2 ;;1-:1
MAYOR
I HEREBY CERTIFY THAT THE FOREGOING RESOLUTION
NO. 68~9(CCS)_WAS DULY ADOPTED BY THE CITY COUNCIL OF THE
CITY OF SANTA MONICA ftT A MEETING THEREOF HELD ON
~larch 13,
, 1984 BY THE FOLLOWING COUNCIL VOTE:
AYES:
CQUNCILMEMBERS: Conn, Epsteln, Jennlngs, Zane and
Mayor Edwards
NOES:
COUNCILMEMBERS: Press
ABSENT:
COUNCILMEMBERS: Reed
ABSTAIN:
COUNCILMEMSERS: None
ATTEST:
{201 '7JoJJr.~ ~
CITY CLERK