R-7707
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Council Meeting: October 25, 1988
Santa Monica, California
RESOLUTION NO. 7707
(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; AND REVISING THE LIST OF STAFF
AUTHORIZED TO ACCESS THE CITY'S SAFE DEPOSIT BOX
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,
American 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, Columbia National Bank, First Interstate
Bank of California, First National Bank of Chicago, First Pacific
Bank,
First Women's Bank of California,
Imperial Bank,
Manufacturers Hanover Trust, NCNB Texas National Bank (formerly,
Republic Bank of Dallas), Olympic National Bank, Santa Monica
Bank, Sanwa Bank of California, Security Pacific National Bank,
Sumitomo Bank of California, Union 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
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Finance/City Controller, and Ralph E. Bursey, City
Treasurer/Revenue Manager, be and they hereby are authorized to
establish such accounts.
SECTION 2. That the City of Santa Monica, a municipal
corporation, establishes in its name one or more deposit accounts
with 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
Association, 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 Bank, Gibraltar Savings and Loan Association,
Glendale Federal Savings and Loan, Great Western Bank, FSB,
Hawthorne savings and Loan Association, Home Federal Savings and
Loan Association, Home Savings of America, 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 Bank, Perpetual
Savings and Loan Association, Provident Federal Savings and Loan
Association, Sears Savings Bank, Southern California Savings and
Loan Association, Southwest Savings and Loan Association,
Westdale Savings and Loan, Western Savings and Loan, and World
Savings and Loan Association, 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, city
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Treasurer/Revenue Manager be and they hereby are authorized to
establish such accounts.
Section 3. That the city of Santa Monica, establishes
in its name one or more investment/deposit accounts with First
Boston Corporation, Goldman Sachs & Company, Kidder Peabody &
Company, Inc., Merrill Lynch Government Securities Inc.,
Prudential-Bache securities, and Dean witter Reynolds, and that
Charles M. Dennis, Director of Finance/City Controller, and Ralph
E. Bursey, City Treasurer/Revenue Manager be and they hereby are
authorized to establish such accounts.
Section 4. That the santa Monica office of the Santa
Monica Bank, First Interstate Bank and the Bank of America
National Trust and Savings Association, as designated
depositories of the city, 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 individual 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 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.
section 5. That the city of Santa Monica, a municipal
corporation, has rented safe deposit box "B" at the First
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Interstate Bank, and that Charles M. Dennis, Director of
Finance/City
Controller,
or
Ralph
E.
Bursey,
city
Treasurer/Revenue Manager, jointly with Bernadette Neal, Acting
Supervising Fiscal staff Assistant, be and they are hereby
authorized to enter said safe deposit box.
Section 6.
Any provision of any other Resolution
inconsistent with the provisions of this Resolution, to the
extent of such inconsistencies and no further, are hereby
repealed or modified to that extent necessary to affect the
provisions of this Resolution.
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 FORM:
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ROBERT M. MYERS 0 -
city Attorney
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I hereby certify that
, 1988.
Adopted and approved
(
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e foregoing Resolution No. 7707(CCS)
was duly adopted by the City Council of the City of Santa Monica
at a meeting thereof held on October 25, 1988 by the following
council vote:
Ayes:
Councilmembers:
Finkel, Jennings, A. Katz, H.
Katz, Reed, Zane, Mayor Conn
Noes: Councilmembers:
None
Abstain: Councilmembers:
None
Absent: Counci1members:
None
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ATTEST:
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