HomeMy WebLinkAboutResolution - 2362 STATE OF CALIFORNIA ) RESOLUTION NO. 2362
COUNTY OF RIVERSIDE)ss
CITY OF SAN JACINTO )
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SAN JACINTO, CALIFORNIA, AUTHORIZING
BUSINESS ONLINE BANKING AGREEMENT BETWEEN
THE CITY AND BANK OF HEMET
WHEREAS, the City Council has reviewed copies of the proposed The Bank
of Hemet Business Online Banking Agreement (the "Agreement"), to be entered into
by and between the City and The Bank of Hemet (the "Bank"); and
WHEREAS, the City Council has determined that its participation in The Bank
Hemet Business Online Banking services will be on the terms and conditions set forth
in the Agreement;
NOW, THEREFORE, BE IT HEREBY RESOLVED, determined and ordered by
the Mayor and City Council of the City of San Jacinto as follows:
1 . It is in the best interest of the City to participate in the Business Online
Banking Services, such participation to be on the terms and conditions set
forth in the Agreement; and
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2. The Council authorizes and directs an authorized officer of the City, for and on
behalf of the City, to negotiate, execute and deliver the Agreement and any
renewals or amendments thereof, with such terms, covenants and conditions
as such officer or officers executing the Agreement on behalf of the City may
approve, such approval to be conclusively evidenced by the execution and
delivery of the Agreement.
3. The Council has considered the security procedures contemplated by the
Agreement, and finds such security procedures are commercially reasonable
procedures for verifying that a transfer request or other communication
purporting to have been issued by the City as originator is in fact a transfer
request of the City. In reaching this determination, the City Council has
considered the size, type and frequency of transfer requests that the City
anticipates issuing to the bank. The City Council is aware that the Bank may
attain higher degrees of security, including but not limited to, requiring a
second review for transfer requests and requiring a callback confirmation for
all wire transfer requests.
4. The City Council authorizes and directs an authorized officer of the City to
designate one or more persons authorized to initiate requests pursuant to the
Agreement, to communicate the name and title of such person or persons and
••- any other required information to the Bank in the form of Worksheets identified
as Exhibits A through E as set forth in the Agreement, or any other form
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agreed to by Bank, and to add and remove persons from such Worksheets,
and amend any information contained thereon, from time to time as my be
appropriate.
5. The Council authorizes an authorized officer in connection with this Agreement
to delegate any of the authorities granted him or her under this resolution to
one or more persons and to revoke any authorization granted to any such
person as he or she deems appropriate.
6. The Bank is authorized to act and rely on this resolution until it actually
receives written notice of its amendment or revocation.
7. As used in this Resolution, the terms, "authorized officer of the City" shall
mean any two acting together:
Title Name
a. Mayor James M. Connor
b. Vice Mayor Jim Ayres
c. City Manager John F. Wager, Jr.
d. Finance Director Bernard Simon
APPROVED AND ADOPTED this 1st day of August, 2002 by the following
vote:
Ayes: Ayres, Carlson-Buydos, Good, Conner
Nays: None
Abstain: None
Absent: None
c City of San Jacinto
mes M. Conner, Mayor
ATTEST:
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E(orothy L. ouinard, City Clerk
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