HomeMy WebLinkAboutCDC/2010-051
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RESOLUTION NO. cDC/2010-s
RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF
THE CITY OF SAN BERNARDINO APPROVING AND AUTHORIZING
THE DESIGNATION OF CHECK SIGNERS AND CO-SIGNERS FOR THE
REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO AND
AUTHORIZING THE DEPOSIT OF AGENCY FUNDS WITH CITIZENS
BUSINESS BANK AND CITIZENS TRUST
WHEREAS, it is the desire of the Community Development Commission of the City of San
~ Bernardino ("Commission") to have the ability to expand the number of local banking institutions
~ providing checking and other banking and deposit services to the Redevelopment Agency of the
City of San Bernardino ("Agency") and to maximize the investment earnings and to diversify
~ investment opportunities and minimize risks to the Agency; and
WHEREAS, it is desirable to modify the designation of check signers and co-signers on
behalf of the Agency to conform with certain reorganization efforts previously undertaken by the
Mayor and Common Council of the City of San Bernardino ("Council"); and
WHEREAS, it is necessary for this Commission to approve all such above referenced
~ actions on behalf of the Agency.
NOW, THEREFORE, THE COMMUNITY DEVELOPMENT COMMISSION OF THE
~ CITY OF SAN BERNARDINO DOES HEREBY RESOLVE, DETERMINE AND ORDER, AS
FOLLOWS:
Section 1. The Interim Executive Director of the Agency is hereby authorized to
~ establish one or more checking accounts and deposit accounts with Citizens Business Bank and
Citizens Trust. The Interim Executive Director is further authorized and directed to execute such
~ documents and standard form agreements with Citizens Business Bank and Citizens Trust as may be
necessary to implement the intent of this Resolution to accommodate the deposit of Agency funds
from time-to-time with Citizens Business Bank and Citizens Trust for the establishment of the
checking accounts and other deposit accounts pursuant to this Resolution in conformity with the
adopted Agency investment policies as the same may be amended from time-to-time by this
Commission and as such maybe applicable to any of said accounts.
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CDC/2010-5
1 Section 2. The Commission hereby authorizes and approves (i) the Mayor as the
2 Chairperson of the Agency as the primary signatory and (ii) the Mayor Pro Temp as the alternate
3 signatory for all checks and fund transfers of the Agency, and the Commission further authorizes
4 and approves the Executive Director, or the Interim Executive Director, as applicable, of the Agency
5 and the Deputy Director of the Agency as co-signers for all such checks and fund transfers of the I~,
6 Agency.
7 Section 3. This Resolution shall take effect from and after its date of adoption by this
8 Commission.
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CDC/2010-5
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RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF
THE CITY OF SAN BERNARDINO APPROVING AND AUTHORIZING
THE DESIGNATION OF CHECK SIGNERS AND CO-SIGNERS FOR THE
REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO AND
AUTHORIZING THE DEPOSIT OF AGENCY FUNDS WITH CITIZENS
BUSINESS BANK AND CITIZENS TRUST
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Community
Development Commission of the City of San Bernardino at a ~ oint regular meeting
thereof, held on the 16th day of February , 2010, by the following vote to wit:
Commission Members: Ayes Nays Abstain Absent
ESTRADA x
BAXTER x
BRINKER x
SHORETT x
KELLEY x
JOHNSON x
MC CAMMACK x
~~=
Secretary
The foregoing Resolution is hereby approved this ; ~i~t day of_ FPh,-„a,-~ , 2010.
Patrick Morris, Chai
nity Development Commission
of the City of San Bernardino
Approved as to Form:
By:
Agency unsel
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P:Wgendas\ResoWtionsUtesolutions\2010\02-16-10 Citizens Trust -Investment Account CDC Reso.doc