HomeMy WebLinkAboutResolution - 2864 STATE OF CALIFORNIA ) RESOLUTION NO. 2864
COUNTY OF RIVERSIDE)ss
�., CITY OF SAN JACINTO)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN
JACINTO, CALIFORNIA, AUTHORIZING CITY TO ESTABLISH A NEW
ACCOUNT FOR LOCAL AGENCY MONEY MARKET WITH THE BANK
OF HEMET
WHEREAS, the City of San Jacinto adheres to the objectives of Safety,
Liquidity and Return for all public funds, of which safety of public funds is the primary
duty of the City; and
WHEREAS, the establishment of such an account is within the allowable
investments of the Adopted Investment Policy of the City and the California
government code regulating investment of public funds; and
WHEREAS, the City of San Jacinto desires to establish a Local Agency
Money Market account with Bank of Hemet; and
WHEREAS, the City has designated the Mayor, Vice Mayor, City Manager,
Treasurer and Finance Director as signers on the bank accounts; and
WHEREAS, Bank of Hemet requires the City to adopt a corporate resolution
and authorization to designate authorized signers on bank accounts; and
WHEREAS, Bank of Hemet is a bank under the laws of the state of California
and is required to collateralize all public funds,
NOW THEREFORE, BE IT RESOLVED, ordered and determined by the
City Council of the City of San Jacinto, California, that the following will be
authorized signers on Bank of Hemet accounts:
Mayor Dale Stubblefield
Vice Mayor Ken Shaw
City Manager Barry McClellan
Treasurer Jim Potts
Finance Director Bernard Simon
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