Laserfiche WebLink
Resolution No. 2025-XXX <br />Page 1 of 3 <br />RESOLUTION NO. 2025-XXX <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA <br />DESIGNATING JP MORGAN CHASE BANK, N.A., AS THE <br />DEPOSITORY FOR CITY OF SANTA ANA FUNDS, FOR TW O (2 ) <br />ADDITIONAL YEAR S THROUGH DECEMBER 31, 2028, <br />AND DESIGNATING SIGNATORIES AUTHORIZED FOR THE <br />PURPOSE OF WITHDRAWAL OF SAID FUND <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA <br />AS FOLLOWS: <br />Section 1. The City Council of the City of Santa Ana hereby finds, determines <br />and declares as follows: <br />A.The City Council of the City of Santa Ana ("City") has declared a policy <br />of designating a bank within the City or in its immediate vicinity to act <br />as depository for the demand deposits of City funds. <br />B.The City has an existing Banking Services Agreement (No. A-2016-366), <br />including all amendments (No. A-2021-285), with J.P. Morgan Chase Bank, <br />N.A., effective December 6, 2016 through December 31, 2026. <br />C.After reviewing the outstanding performance of J.P. Morgan Chase Bank, <br />N.A. as the City’s depository banking services provider and having found <br />J.P. Morgan Chase Bank, N.A.’s proposal for continued depository <br />banking services to be super ior in terms of pricing and bank managed <br />earnings credit , the City hereby re-designates JPMorgan Chase Bank, <br />N.A., 1300 North Main Street, Santa Ana, California ("Bank"), as the <br />banking institution that shall receive and act as depository for City funds <br />and trust funds in control of said City, for two (2) additional years beginning <br />January 1, 2027 through December 31, 2028. <br />Section 2. The Executive Director of Finance and Management Services of <br />the City and the Assistant Director of Finance and Management Services of the City (when <br />acting as designee of the Executive Director of Finance and Management Services) are <br />hereby authorized for and on behalf of the City, and as its officers and agents, to sign <br />City of Santa Ana checks for the withdrawal of said funds so deposited, both by <br />facsimile signature machine-imprinted upon City checks and by manually affixed <br />signature upon City checks. <br />Section 3. The Assistant Director of Finance and Management Services and the <br />Treasury and Customer Services Manager of the City are hereby authorized for and <br />on behalf of the City, and as agents of the City and deputies of the Executive <br />Director of Finance and Management Services to sign City of Santa Ana checks for <br />the withdrawal of said funds so deposited by manually affixed signature thereon. <br />Section 4. Said Bank is hereby authorized and directed to pay out from said <br />City funds to the payees respectively designated on any City checks, signed in <br />the manner and by any of the persons hereinabove authorized, in the amounts shown <br />on the face of said checks. <br />EXHIBIT 1 <br />  <br />  <br />City Council 19 – 4 8/5/2025