SR-204-001 (5)
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council Meeting of March 25, 1986
10-11
Santa Monica, California HAR 25'986
TO: MAYOR AND CITY COUNCIL
FROM: City staff
SUBJECT: RESOLUTION TO MAKE CHANGE IN STAFF AUTHORIZATION TO
CONDUCT INVESTMENTS AND TREASURY OPERATIONS
Introduction
This is to recommend that the council approve the attached
resolution which changes the city staff authorized to conduct
investment and treasury operations.
Background
Kay Watanabe, city Treasurer/Revenue Manager, will retire April
18, 1986. As a result, it is necessary to authorize official
signature changes, and a change in specific staff who have the
authority to make city investments and to have access to the
city's safety deposit box. Pending the recruitment and selection
of a new city Treasurer/Revenue Manager, the attached resolution
adds, as the Acting City Treasurer/Revenue Manager effective
April 18, 1986, the name of the current Assistant city
Treasurer/Revenue Manager, Ralph E. Bursey.
BUdget/Financial Impact
The recommendation of this report has no budget/financial impact.
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Recommendation
It is respectfully recommended that the Council approve the
attached resolution which changes city staff authorized to
conduct investment and Treasury operations as a result of the
retirement of Kay Watanabe, city Treasurer/Revenue Manager,
effective April 18, 1986.
Prepared by: Kay Watanabe, City Treasurer/Revenue Manager
Mike Dennis, Director of Finance/City Controller
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~EFORE DISTRIBUTION CHECK CONTENT OF ALL FOR CITY C}ERK'S ACTION
DISTRIBUTION OF RESOLUTION # ://)If; ORDINANCE #
CouncIl Meeting Da te s4s- Ip (, Introduced'
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Agenda Item #
Adopted:
Ail-JAYS PUBLISH AOOP1'ill ORDINANCES*
*Cross out Attorney's al?Prova1
Was it amended?
VOTE: Afflrmative:
Negative:
Abstain:
Absent:
PRoof vOTE~ ~ITH ANOTHER PERSO~ BEFORE A~VTHING
DISTKlnuTION: uKIGiNAL ~o be signed, sealed and flIed in Vault.
NEWSPAPER PUBLICATION (Date:
)
)
Department originating staff report (
Management Serv.~~e~ Lynne Barrette -urdinances only
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Agency mentioned in document or staff report
(certlfied?)
Subject flle (agenda packet)
1
Counter file
I
Others:
Airport
Parking Auth.
.Audltorum
Personnel
BUlldlng Dept.
Planning
Pollce (en-
forcement?)
CumllU'U ty and Econcrnic Dev.
Flnance
Purchaslng
Fire
Recr/Parks
General Servo
Transportation
Treasurer ,
Llbrary
Manager
SEND FOU? COPIES OF ALL ORDINANCES TO:
CODED SYSTEMS, Attn pe'ter- Macreari.e
12_0' lIfain :tr~et
_ Av6~, Sew Jersev_077l7_
SEND FOUR COPIES OF AI.I. ORnTNANr.Ff3. to:
~ffrft r:CO&l-Bf MU!\ICTPAL COURT '"
" 725 MAIN STREE~ Room 118
SANTA MONICA, CA 90401
*Check Code sections before sendmg.
TOTAL COPIES
3
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Council Meetlng March 25, 1986 Santa Monica, California
RESOLUTION NO. 7186(CCS}
(City council series)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SANTA MONICA AUTHORIZING THE ESTABLISHMENT,
USE AND INVESTMENT OF ONE OR MORE DEPOSIT
ACCOUNTS WITH CERTAIN BANKS, SAVINGS AND LOAN
ASSOCIATIONS AND BROKER/DEALERS.
THE CITY COUNCIL OF THE CITY OF SANTA MONICA DOES
RESOLVE AS FOLLOWS:
SECTION 1. That the city of Santa Monica, a municipal
corporation establishes in its name one or more deposit accounts
with the Alliance Bank of Culver City, American city Bank,
&uerlCan Pacific State Bank, Bank of America National Trust and
savings Association, Bank of Beverly Hills, Bank of Marina del
Rey, Bankers Trust Company, Brentwood Bank, California First
Bank, California Korea Bank, Century Bank, City National Bank,
Chase Manhattan Bank, New York, Columbia National Bank, Crocker
Na~ional Bank, First National Bank of chicago, First Pacific
Bank, First Women's Bank of California, Golden state Sanwa Bank,
I~perial Bank, Lloyds Bank of California, Manufacturers Bank,
OlymplC National Bank, Republic Bank, santa Monica Bank, Secur~ty
Paclfic National Bank, sumitomo Bank of California, Union Bank,
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First Interstate Bank, Wells Fargo Bank, and Western Bank of
Commerce upon such terms and conditions as are provided by the
statutes of the state of California governing public deposits;
and that Charles M. Dennis, Director of Finance/City controller,
and Ralph E. Bursey, Acting City Treasurer/Revenue Manager, be
and they hereby are authorized by establishing such accounts.
SECTION 2. That the City of Santa Monicar a municipal
corporation, establishes in its name one or more deposit accounts
with American Savings and Loan Association, Bel-Air Savings and
Loan Association, Beverly Hills Savings and Loan Association,
Brentwood Savings and Loan Association, California Federal
Savings and Loan, Centurion Savings and Loan Associationr Century
Federal Savings and Loan Association, Coast Federal Savings and
Loan Association, 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
Association, Hawthorne Savings and Loan Association, Home Federal
Savings and Loan Association, Home Savings of fu~erica, Imperial
Savlngs and Loan Assoclation, Llncoln savings and Loan
Associatlcn, Los Angeles Federal Savings, Marlna Federal Savings,
Mercury Savings and Loan Associa~icn, Paciflc Federal Savings and
Loan Association, Perpetual Savings and Loan Association,
Provident Federal Savings and Loan ASsCclatlon, Sears savings
Bank, Southern Callfornla Savings and Loan ASsOclation, Southwest
Savings and Loan Association, Westdale savings and Loan, Western
Savings and Loan, and World Savings and Loan Association, upon
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such terms and conditions as are provided by the Statutes of the
state of California governing pUblic deposits: and that Charles
M. Dennis, Director of Finance/city Controller, and Ralph E.
Bursey, Acting City Treasurer/Revenue Manager be and they hereby
are authorized by establishing such accounts.
SECTION 3. That the city of Santa Monica, establishes
ln its name one or more investment/deposit accounts with First
Boston Corporation, Goldman Sachs & Company, Kidder Peabody &
company, Inc. , Merrill Lynch Government Securities Inc. ,
Purdential-Bache Securities, and Dean witter Reynolds: and that
Charles M. Dennis, Director of Finance/city Controller, and Ralph
E. Bursey, Acting city Treasurer/Revenue J.fanager be and they
hereby are authorized by establishing such accounts.
SECTION 4. That the Santa Monica office of the Santa
Monica Bank, First Interstate Bank, the Bank of &~erica National
Trust and Savings Association, as designated depositories of the
ci ty, be and they, including their correspondent banks, hereby
are requested, authorized, and directed to honor all checks,
draftsl or other orders for the payment of money drawn to the
individual order of any person or persons whose names appear
thereon as signer or signers thereof, when bearing o~ purporting
to bear the facsimile signatures of Charles M. Dennis and Ralph
E. Bursey 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
said banks by the City hereby are continued in full force and
effect as amplified hereby.
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SECTION 5. That the City of Santa Monica, a municipal
corporation, has rented safe deposit box liB" at the First
Interstate Bank, and that Charles M. Dennis, Director of
Finance/City Controller,
or Ralph E.
Bursey, Acting city
Treasurer/Revenue Manager, jointly with william R. Ramsey,
Assistant Director of Finance, 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 April 18, 1986. Resolution Number 7169 (CCS) and all
other Resolutions in conflict herewith are repealed effective
April 18, 1986.
SECTION 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 FOffi1:
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Rebert !1. l1yers
city Attorney
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Adopted and approved thlS 25th day of March, 1986.
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Nayor
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I hereby certlfy that the foregolng Resolutlon No. 7186(CC5)
was duly adopted by the Clty Councll of the Clty of Santa Monlca
at a meetlng thereof held on 1'1arch 25, 1986 by the follmnng
Councll vote:
Ayes: Councllmembers:
Conn, Epsteln, Je~nlngs, A. Katz,
H. Katz, Zane and Mayor Reed
Noes: Councl1~enbers:
None
Abstaln: CounCl1menbers:
Nor.e
Absent: Cauncllme~bers:
None
ATTEST:
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A.sslstant ~ CleJ:'IC