SR-200-000 (5)
..
Santa Mon~ca'~~forn~a, January 11, 1980
ztJt7-000
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TO:
Mayor and C2ty Counc2l
JAN 2 2 1980
FROM:
C2ty Staff
SUBJECT:
Resolution Chang2ng S~gnature Author2zat2on
for C~ty Bank Accounts and Safe Depos2t Boxes
Introduct2on
Th~s report transm2ts a resolution wh2ch would change the author~zed
s2gnatures requ~red by the var~ous ban~s w~th wh~ch the C2ty trans-
acts bus2ness.
It would also author2ze a temporary salary adjust-
ment.
Background
At the present t2me several reso1ut~ons are 2n effect wh~ch relate
to the C~ty's bank2ng and safe depos~t act~vit2es, spec2f2ca11y w2th
respect to author2zed s~gnator~es.
Th~s reso1ut~on conso12dates
the prOV~S2ons of the var~ous eX2st2ng reso1ut2ons ~nto one document
(reso1ut2ons 2n the C2ty Counc2l Ser2es numbered 4421,3671, 4420,
4700, 4854 and 4919).
In add2t2on, as Mr. Robert Nash has recently
announced h2s res2gnat2on from the pos2t2on of F2nance D2rector
th2s resolution removes h2S s2qnature as author2zat2on and des2gnates
other members of the F2nance Department as author2zed signatoI2es
2n his place.
Unt21 a new F2nance D2rector 25 employed, the C2ty'S L2cense and
Perm2t Superv2sor w211 act temporar21y as C2ty Treasurer and counter
s2gn as necessary.
As recogn2t2on of th2S temporary ass2gnment, 2t
25 requested that the salary be 2ncreased from $1,717 per month to
~E
l"AN 2 2 1980
. TO:
Mayor and C2ty~nC2l
.
January 11, 1980
-2-
$2,176 per month.
RecommendatIon
It 2S recommended that the CIty Counc21 adopt the attached resolutIon
replacIng varIOUS eXIstIng resolutIons and authorIZIng speCIf2ed
employees of the FInance Department to make depos2ts and w2thdrawals
from C2ty Bank accounts and safe deposIt boxes.
Prepared By:
Jeanne L. Kennedy
Adm2n2strat2ve Ass2stant
JLK:dvl
. .
RESOLUTION NO. 5484
(City Council Series)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SANTA MONICA AUTHORIZING THE ESTABLISHMENT,
USE AND INVESTtlENT OF ONE OR ~10RE DEPOSIT
ACCOUNTS WITH CERTAIN BANKS AND SAVINGS AND
LOAN ASSOCIATIONS; AUTHORIZING FACSIMILE
SIGNATURES BY KAY WATANABE AND J.l. WILBUR;
AND AUTHORIZING CERTAIN OFFICERS AND EMPLOYEES
TO ENTER SAFE DEPOSIT BOX liB" AT THE UNITED
CALIFORNIA BANK.
THE CITY COUNCIL OF THE CITY OF SANTA ~ONICA DOES RESOLVE AS
FOLLOWS:
SECTION 1. That the City of Santa Monica, a municipal
corporationt establishes in its name one or more deposit accounts with
the Santa Monica Bank, the Bank ~f America Natlonal Trust and Savings
ASsoclation, the United Callfornia Bank, the Security Pacific Natlonal
Bankt City National Bank, Union Bank, the Chase Manhattan Bank, New York,
New York; Crocker Natlonal Bank, the California First Bank, Lloyd's Bank,
Wells Fargo Bank, Sumitomo Bank, and the First Pacific Bank upon such
terms and conditions as are provided by the Statutes of the State of
Callfornia governlng pUblic deposlts; and that Kay Watanabet Acting
Director of Flnance-City Controller, and J.L. Wilbur, Acting City Treasurer!
License Supervlsor, be and they hereby are authorlzed by establishing
such accounts.
SECTION 2. That the City of Santa Monica, a municipal
corporatlon, establishes in its name one or more deposit accounts with
Amerlcan Savlngs and Loan ASSoclat'on~ California Federal Savings and
.
.
Loan Association~ Century Federal Savings and Loan Association~ Coast
Federal Savings and loan Assoclation~ Glendale Federal Savings and Loan
Associatlon, Great Western Savings and Loan Assoclation, Home Savings
and Loan Associatlon, Imperial Savings and Loan Associatlon, Lincoln
Savlngs and Loan Associatlon, Los Angeles Federal Savlngs, Paclfic
Federal Savlngs, State Savlngs and Loan Assoclation, State Mutual Savings
and Loan Association, and World Savings and Loan Association, upon such
terms and conditlons as are provided by the Statutes of the State of
Californla governing public deposits; and that Kay Watanabe~ Acting
Director of Finance-City Controller, and J.L. Wilbur, Actlng City
Treasurer/License Supervisor, be and they hereby are authorized by
establishing such accounts.
SECTION 3. That Kay Watanabe, Actlng Director of Finance-
Clty Controller, and J.L. Wl1bur~ Acting City Treasurer/License
Supervisor, be and they hereby are authorlzed to wlthdraw funds from
said accounts upon warrants and/or checks signed as provided hereln
with slgnatures duly certifled to said banks by the City Clerk of the
Clty of Santa Monica, and said banks are hereby authorized to honor
and pay any and all warrants and/or checks signed, including those
drawn to the indivldual order or any offlcer or other person authorized
to sign the same.
SECTION 4. That the Santa Monica office of the Santa Monlca Bank,
Unlted California Bank~ the Bank of America National Trust and Savings
Assoclatiofi, as designated depositorles of the City, be and they, includlng
their correspondent banks, hereby are requested, authorized, and directed
to honor all checks, drafts~ or other orders for the payment of money
(2)
.
.
drawn to the 1ndividua1 order of any person or persons whose names appear
thereon as signer or signers thereof, when bearing or purport1ng to bear
the facsimile signatures of Kay Watanabe and J.L. W1lbur in lieu of said
person's manual signature; provided that all previous authorizations
for the signlng and honoring of checks, drafts, or other orders for the
payment of money drawn on said banks by the City hereby are continued
1n full force and effect as amplified hereby.
SECTION 5. That the said banks, includ1ng their correspondent
banks, shall be entitled to honor and charge the City for all such checks,
drafts, or other orders for the payment of money, regardless of by whom
or by what means the actual or purported facsimile signature thereon may
have been affixed, thereto, if such facsimile signature resembles the
facsimile specimens from t1me ~o time filed with sa1d banks by an off1cer
of the Clty.
SECTION 6. That the C1ty of Santa Mon1ca, a mun1cipal corp-
oration, has rented safe deposit box "B" at the United California Bank,
and that Kay Watanabe, Acting Director of Finance-City Controller, or
Ray Randolph. Acting Assistant D1rector of Finance, J01ntly with J.L. Wilbur,
Acting C1ty Treasurer/License Supervisor, or Jane Flynn, be and they are
hereby author1zed to enter sa1d safe deposit box.
SECTION 7. Temporary position of Acting City Treasurer be
authorized at the salary of $2,176.00 per month.
SECTION 8. Resolution No. 4421 (CCS); Resolution No. 3671
(CCS); Resolution No. 4420 (CCS); Resolution No. 4700 (CCS);
Resolutlon No. 4854 (CCS); and Resolution No. 4919 (CCS) and all other
resolutions 1n conflict herewith are hereby repealed.
(3)
. .
SECTION 9. The City Clerk shall certify to the adoption of
this resolution, to take effect on February 1,1980 and thenceforth and
thereafter the same shall be in full force and effect.
ADOPTED AND APPROVED thlS ??ncL day of .T::Jnlf::lry
, 1980.
~4H~ A !J~
U -- ~1AYOR-
----.
ATTEST:
CITY CLERK
(4)
.
.
ADOPTED AND APPROVED THIS
22nd.
DAY
OF January
I 1980.
"
C/&t(,Uf) , r3~
/ . 'b;{"'-
" - MA y'
( /
V
I HEREBY CERTIFY THAT THE FOREGOING RESOLUTIONJ
No. 5484 I WAS DULY ADOPTED BY THE CITY COUNCIL OF THE CITY
OF SANTA MONICA AT A REGULAR MEETING THEREOF HELD ON
January 22 J 199~ BY THE FOllOWING COUNCIL VOTE:
AYES:
COUNCILMEMBERS: Yannatta Goldway, Jennlngs, Reed,
Rhoden, Scott and Mayor Bambrick
NOES:
COUNCILMEMBERS: None
ABSENT:
COUNCILMEMBERS: van den Steenhoven
ABSTAIN:
COUNCIlMEMBERS: None
ATTEST:
~ .
"-l~
Efrv CLERK