HomeMy WebLinkAbout2021-080 - Designating Signatories Authorized for the Purpose of Withdrawal of Said FundRESOLUTION NO. 2021-080
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA ANA DESIGNATING JP MORGAN CHASE BANK,
N.A., AS THE DEPOSITORY FOR CITY OF SANTA ANA
FUNDS, EFFECTIVE JANUARY 1, 2022, AND
DESIGNATING SIGNATORIES AUTHORIZED FOR THE
PURPOSE OFWITHDRAWAL OF SAID FUND
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS
FOLLOWS:
Section 1. The City Council of the City of Santa Ana hereby finds, determines
and declares asfollows:
A. The City Council of the City of Santa Ana ("City") has declared a policy
of designating a bank within the City or in its immediate vicinity to act as
depository for the demand deposits of City funds.
B. After reviewing the outstanding performance of J.P. Morgan Chase Bank,
N.A. as the City's depository banking services provider beginning from
January 1, 2017 through December 31, 2019 and having found J.P.
Morgan Chase Bank, N.A.'s proposal for continued depository banking
services to be superior in terms of pricing and bank managed earnings
credit, the City hereby re -designates JPMorgan Chase Bank, N.A., 1300
North Main Street, Santa Ana, California ("Bank"), as the banking
institution that shall receive and act as depository for City funds and trust
funds in control of said City, beginning January 1, 2022, for a term of five (5)
years through December 31, 2026.
Section 2. The Executive Director of Finance and Management Services of the
City and the Assistant Director of Finance and Management Services of the City (when acting
as designee of the Executive Director of Finance and Management Services) are hereby
authorized forand on behalf ofthe City, and as itsofficers and agents, to sign Cityof Santa
Ana checks for the withdrawal of said funds so deposited, both by facsimile signature
machine -imprinted upon City checks and by manually affixed signature upon City
checks.
Section 3. The Assistant Director of Finance and Management Services and the
Treasury and Customer Services Manager of the City are hereby authorized for and
on behalf ofthe City, and as agents of the City and deputies of the Executive Director
of Finance and Management Services to sign City of Santa Ana checks for the
withdrawal of said funds so deposited by manually affixed signature thereon.
Section 4. Said Bank is hereby authorized and directed to pay out from said
City funds to the payees respectively designated on any City checks, signed in the
manner and byanyofthe persons hereinabove authorized, inthe amounts shown on the
face of said checks.
Resolution No.2021-080
Page 1 of 3
Section 5. The City Manager is hereby authorized to designate in writing agents
who shall be authorized to sign City checks for the payment or withdrawal of said funds
when, due to physical absence, incapacity or death of any of said authorized signatories,
it may be necessary on a temporary basis to provide other means for the signing of
City checks, and/or for the payment or withdrawal of said funds. Any such authorization
shall set forth the necessity for such designation, the period of time during which said
authorization shall continue (by giving the exact starting and termination dates) and shall
contain the certification of the Clerk of the Council over the official seal of the City of
Santa Ana certifying that said authorization is in fact, signed by the qualified and acting
City Manager, shall contain a specimen signature of the person designated as such
temporary agent, and shall be delivered to said Bank.
Section 6. The City Manager, or his designee, is hereby authorized to execute
and submit all documents, including but not limited to applications, agreements and
amendments which may be required to effectuate the banking services necessary for
the administration ofthe City'sdemand deposit account.
Section 7. A certified copy of this Resolution, together with the signatures of the
two agents herein authorized to act in manual form and copies of the facsimile
signature machine -imprints of the Executive Director of Finance and Management
Services a nd Assistant Director of Finance and Management Services certified by the Clerk
of the Council to be the signatures of said persons, and the imprints of the official facsimile
signature plates, shall be delivered to said Bank before the 1 st day of January, 2022.
Whenever any of said agents leave the employment of the City, is absent therefrom, or
incapacitated for a period of time that will affect the issuance of City checks, the Clerk of
the Council shall notify said Bank of said fact and shall certify the names, titles, and
signatures of the person(s) then designated as agent(s) of the City for the purpose of
signing City checks in the manner hereinabove provided and shall notify said Bank of
every termination of such authorization immediately upon receipt of such information.
Section 8. This Resolution shall take effect immediately upon its adoption by the
City Council, and the Clerk of the Council shall attest to and certify the vote adopting this
Resolution.
ADOPTED this 21st day of December, 2021.
APPROVED AS TO FORM:
Sonia R. Carvalho, City Attorney
By:
Brandon Salvatierra
Deputy City Attorney
4V4AAJ
Vicente Sarmiento
Mayor
Resolution No.2021-080
Page 2 of 3
AYES: Councilmembers: Hernandez, Lopez, Mendoza, Penaloza,
Phan, Bacerra, Sarmiento (7)
NOES: Councilmembers: None (0)
ABSTAIN: Councilmembers: None (0)
NOT PRESENT: Councilmembers: None (0)
CERTIFICATE OF ATTESTATION AND ORIGINALITY
I, DAISY GOMEZ, Clerk of the Council, do hereby attest to and certify the attached
Resolution No. 2021-080 to be the original resolution adopted by the City Council of
the City of Santa Ana on December21, 2021.
Date: -D3 —12�I
Daisy Gomez
Clerk of the Council
City of Santa Ana
Resolution No. 2021-080
Page 3 of 3