HomeMy WebLinkAbout2016-091 - JP Morgan Chase Bank N.A as the Depository for City of Santa Ana LS 11.28.16
RESOLUTION NO. 2016-091
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, 2017, AND
DESIGNATING SIGNATORIES AUTHORIZED FOR THE
PURPOSE OF WITHDRAWAL 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 as follows:
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 receiving and reviewing a number of proposals for the depository
("banking") services required, the City hereby 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, 2017, for an initial term
of three (3) years, with one option to extend for an additional two-year term,
exercisable by the City Manager and City Attorney, so long as the pricing for
the option period does not exceed the initial term pricing. Should the optional
extension exceed the pricing of the initial term, such extension shall be subject
to City Council approval.
Section 2. The Executive Director of Finance and Management Services of the
City is hereby authorized for and on behalf of the City, and as its officer and agent, to sign
City of 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 Treasury and Customer Services Manager of the City and the
Assistant Finance Director of the City are hereby authorized for and on behalf of the 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 by any of the persons hereinabove authorized, in the amounts shown on the
face of said checks.
Resolution No. 2016-091
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LS 11.28.16
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 of the City's demand 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 a copy of the facsimile
signature machine-imprint of the Executive Director of Finance and Management
Services certified by the Clerk of the Council to be the signatures of said persons, and
an imprint of the official facsimile signature plate, shall be delivered to said Bank before
the 1st day of January, 2017. 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
agerit(s)-of theCity-for-thepurpose-of signtr City-checksHnrthe-manrrerhereinabove
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 6th day of December, 2016.
7-?4,;&C,
fijuel A. P lido
6/Mayor
APPROVED AS TO FORM:
Sonia R. Carvalho, City Attorney
By: c
Lisa Storck
Assistant City Attorney
Resolution No. 2016-091
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LS 11.28.16
AYES: Councilmembers: Amezcua, Benavides, Reyna, Sarmiento,
Tinaiero (5)
NOES: Councilmembers: None (0)
ABSTAIN: Councilmembers: None (0)
NOT PRESENT: Councilmembers: Martinez, Pulido (2)
CERTIFICATE OF ATTESTATION AND ORIGINALITY
I, MARIA D. HUIZAR, Clerk of the Council, do hereby attest to and certify the attached
Resolution No. 2016-091 to be the original resolution adopted by the City Council of the
City of Santa Ana on December 6, 2016.
Date: /cal/3/2a A+'L ,) / z ,,�.
Maria D. Huizar / •
Clerk of the Council
City of Santa Ana
Resolution No. 2016-091
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