HomeMy WebLinkAboutRESO7561RESOLUTION NO. 7561
RESOLUTION OF THE COUNCIL OF THE CITY OF PALO ALTO
AUTHORIZING THE DEPUTY CITY MANAGER,
ADMINISTRATIVE SERVICES, TO SIGN DOCUMENTS
RELATING TO THE BANK ACCOUNTS OF THE CITY OF PALO
ALTO; AND RESCINDING RESOLUTION NO. 6694
WHEREAS, the City of Palo Alto is a chartered municipal
corporation of the State of California and as such has the legal
authority to enter into agreements for banking services;
NOW THEREFORE, the Council of the City of Palo Alto does
hereby RESOLVE as follows:
SECTION 1. Each of the Banks or financial institutions
designated below (hereinafter referred to as "Bank" or "Banks") is
hereby selected and designated as a depository of funds of the City
of Palo Alto and such deposit account or accounts may be
established and maintained by and in the name of the City of Palo
Alto at such office or offices of each Bank and upon and subject to
such terms and conditions as the City of Palo Alto and the Bank may
agree upon:
Bank of America
BankCal
Great Western Bank
SECTION 2. The Deputy City Manager, Administrative
Services (also referred to as the City Treasurer), or any other
person she may from time to time designate by written
certification, is hereby authorized to act on behalf of the City of
Palo Alto and to sign any and all documents relating to the bank
accounts and banking services of the City of Palo Alto
SECTION 3. All checks, drafts, orders, receipts, and other
instruments drawn, accepted or given by the City of Palo Alto for
payment from any such account or at any such office shall be signed
on behalf of the City of Palo Alto by the Deputy City Manager,
Administrative Services, or her designee.
SECTION 3. The City Clerk, or any Assistant City Clerk of
the City of Palo Alto is hereby authorized and directed to certify
to the Banks that this resolution has been duly adopted and is in
conformity- with the charter and by-laws or other governing
instrument of the City of Palo Alto and further to certify to each
Bank a copy of this resolution, and the name and specimen signature
of the present Deputy City Manager, Administrative Services, and
the fact of any change of said Deputy City Manager, Administrative
Services, together with the name and specimen signature of the
successor.
SECTION 4. This resolution and each such certification
shall remain in full force and effect, and each Bank is authorized
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and requested to rely and act thereon and shall be indemnified and
saved harmless from all liability and loss incurred by it
continuing to act in pursuance of this resolution (even though it
may have been changed) until it shall receive at its office, or
offices if more than one, to which a certified copyof this
resolution is delivered, a certified copy of a further resolution
of the City Council amending or rescinding this resolution; and the
Banks are authorized to honor any instrument and agreement signed
by any new person in respect of whom it has received any new
certification as successor with the same force and effect as if
said new person were named in this resolution.
SECTION 5. Resolution No. 6694 is hereby rescinded.
SECTION 6. The City Council finds that this action does
not constitute a project under the California Environmental Quality
Act.
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INTRODUCED AND PASSED: December 18, 1995
AYES: ANDERSEN, FAZZINO, HUBER, KNISS, MCCOWN, ROSENBAUM, SIMITIAN, WHEELER
NOES:
ABSENT: SCHNEIDER
ABSTENTIONS:
ATTEST APPROVED:
Mayor
Deputy City Manager,
Administrative Services
Clerk
APPROVED AS TO FORM:
��. .
S nior Asst. City Attorney
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