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RESOLUTION NO. 87-9 <br /> <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br /> OF SANTA ANA DESIGNATING SECURITY PACIFIC <br /> BANK AS THE DEPOSITORY FOR CITY OF SANTA ANA <br /> FUNDS EFFECTIVE JANUARY 1, 1988, AND DESIGNATING <br /> SIGNATURES AUTHORIZED FOR THE PURPOSE OF <br /> WITHDRAWAL OF SAID FUNDS <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA <br /> <br />ANA: <br /> <br /> 1. Heretofore the City Council of the City of Santa Ana <br />has declared a policy of designating a bank in the city to <br />act as depository for the demand deposits of city funds and, <br />conforming to said expressed policy, SECURITY PACIFIC BANK, <br />890 No. Main Street, Santa Aha, California, is hereby <br />designated as the banking institution to receive and act as <br />depository for Santa Ana City funds and trust funds in the <br />control of said city beginning January 1, 1988, and <br />continuing for a term of three (3) years, unless sooner <br />terminated. <br /> <br /> 2. The Executive Director of Finance an~ Management <br />Services of said city is hereby authorized for and on behalf <br />of said city, and as its officer and agent, to sign City of <br />Santa Ana checks for the withdrawal of said funds so <br />deposited, both by facsimile signature machine-imprinted upon <br />city checks and by his manually affixed signature upon city <br />checks. <br /> <br /> B. The Treasury Manager of said city is hereby <br />authorized for and on behalf of said city, and as an agent of <br />said city and a deputy of the Executive Director of Finance <br />and Management Services to sign City of Santa Aha checks for <br />the withdrawal of said funds so deposited by his manually <br />affixed signature thereon. <br /> <br /> 4. Said bank is hereby authorized and directed to pay <br />out from said city funds to the payees respectively <br />designated on any city checks, signed in the manner and by <br />either of the persons hereinabove authorized, in the amounts <br />shown on the face of said checks, respectively. <br /> <br /> 5. When because of physical absence, incapacity or <br />death of either or both of said agents it may be necessary on <br />a temporary basis to provide otherwise for the signing of <br />city checks, the City Manager is hereby authorized to <br />designate in writing an agent or agents who shall then be <br />authorized to sign city checks for the payment or withdrawal <br />of said funds. Any such authorization shall set forth the <br />necessity for the designation, the period of time during <br />which said authorization shall continue, by giving the exact <br />starting and terminating dates, and shall contain the <br />certification of the Clerk of the Council of the City of <br />Santa Ana over the official seal of the City of Santa Aha <br />certifying that said authorization is, in fact, signed by the <br />qualified and acting City Manager, shall bear a specimen <br />signature of the person designated as such temporary agent, <br />and shall be delivered to said bank. <br /> <br />40.5 <br /> <br /> <br />