R-7186
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Council Meeting March 25, 1986
RESOLUTION NO.
Santa Monica, California
7l86{CCS}
(City Council Series)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SANTA MONICA AUTHORIZING THE ESTABLISHliENT,
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,
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, New York, Columbia National Bank, Crocker
National Bank, First National Bank of chicago, First Pacific
Bank, First Women's Bank of California, Golden State Sanwa Bank,
Imperial Bank, Lloyds Bank of California, Manufacturers Bank,
Olympic National Bank, RepUblic Bank, Santa Monica Bank, Security
Pacific 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 Monica, 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 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 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 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 and
Loan Association, 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
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such terms and conditions as are provided by the statutes of the
4It 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.
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SECTION 3. That the City of Santa Monica, establishes
in its name. one or more investmentjdeposi t 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 ci ty Treasurer/Revenue Manager be and they
hereby are authorized by establishing such accounts.
SECTION 4-. That the Santa Honica office of the Santa
Monica Bank, First Interstate Bank, 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 I 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
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be in full force and effect.
APPROVED AS TO FORM:
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Robert l'i. Myers
city Attorney
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Adopted and approved thlS 25th day of f1arch, 1986.
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Mayor
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I hereby certlfy thdt the foregolng Resolutlon Ho. 7186(CC5)
was duly adopted by the Cl ty Couma1 of the Cl ty of Santa rIonlca
at a meetHlg thereof Leld on r1arch 25, 1986 by the follmnng
Counc21 vote:
Ayes: Coulle llPl.embers:
Conn, Epsteln, Jennlngs, A. Katz,
H. Katz, Zane and Ila.yor Reed
Noes: CouncllmeDbers:
None
Abstaln: Councllmenbers:
None
Absent: CounCl1members:
None
ATrrEST:
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Asslstant
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