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1559/23/'1 O <br />RESOLUTION NO. 2010- <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA DESIGNATING JP MORGAN CHASE BANK, <br />N.A., AS THE DEPOSITORY FOR CITY OF SANTA ANA <br />FUNDS, EFFECTIVE JANUARY 1, 2011, AND <br />DESIGNATING SIGNATORIES AUTHORIZED FOR THE <br />PURPOSE OF WITHDRAWAL OF SAID FUNDS <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA <br />ANA 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 of <br />designating a bank within the City to act as depository for the demand <br />deposits of City funds. <br />B. After receiving and reviewing a number of proposals for the services <br />required, the City hereby designates JPMorgan Chase Bank, N.A., 1300 <br />North Main Street, Santa Ana, California ( "Bank "), as the banking <br />institution that shall receive and act as depository for City funds and trust <br />funds in control of said City, beginning January 1 , 201 1 , and continuing for <br />a term of three (3) years, with the option to renew for an additional (2) two <br />years unless sooner terminated. <br />Section 2. The Executive Director of Finance and Management Services of <br />the City is hereby authorized for and on behalf of the City, and as its officer and agent, <br />to sign 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 Treasury Manager of the City is hereby authorized for and on <br />behalf of the City, and as an agent of the City and a deputy of the Executive Director of <br />Finance and Management Services to sign City of Santa Ana checks for the withdrawal <br />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 the <br />manner and by either of the persons hereinabove authorized, in the amounts shown on <br />the face of said checks. <br />Exhibit 1 <br />Resolution No. 2010 - <br />Page 1 of 3 <br />55A -3 <br />