HomeMy WebLinkAbout95-84 - First Interstate Bank of CaliforniaRESOLUTION NO. 95 - 84
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF NEWPORT BEACH AUTHORIZING THE
INVESTMENT AND CUSTODY OF FUNDS WITH
FIRST INTERSTATE BANK OF CALIFORNIA
WHEREAS, the City of Newport Beach ( "CITY ") is a California Public Agency
which means that it is City in California, and
WHEREAS, the City may invest its idle cash reserves in compliance with the
laws of the State of California and its own investment policy.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of
Newport Beach that the following persons may:
(a) Execute such agreements or documents as First Interstate Bank of
California ( "BANK") may at any time request (and all renewals or amendments thereto)
regarding the City's custody account, including Bank's Custodial Agreement (which
contains indemnity and hold harmless provisions), which agreement the Treasurer has
reviewed and does approve.
(b) Deposit in any such custody account or accounts, stocks, bonds, securities,
cash, funds, checks, instruments and/or other property held or owned by the City from
whatever source received, and to hold, exchange, acquire, buy, sell, pledge, collect,
transfer, deliver, disburse, redeem, withdraw, and/or dispose of any such stocks, bonds,
securities, cash, funds, checks, instruments and/or other property upon written order or
instruction of any one of the following Authorized Persons:
Kevin J. Murphy
Dennis C. Danner
Richard C. Kurth
City Manager
Treasurer
Deputy Treasurer
BE IT FURTHER RESOLVED, that the Bank is authorized to act and rely on
these resolutions until it actually receives written notice of their revocation.
• ADOPTED this 10th day of July, 1995. A
MAYOR Cj • dq
ATTEST: ��;�O�j
CITY CLERK \ r
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