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EXHIBIT 1 <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 TWO (2) <br /> ADDITIONAL YEARS 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 superior 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 /> Resolution No. 2025-XXX <br /> Page 1 of 3 <br />