RES-8499 Approving a Custodial Agreement with First Interstate Bank of CaliforniaRESOLUTION NO. 8499
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ORANGE APPROVING A CUSTODIAL AGREEMENT
WITH FIRST INTERSTATE BANK OF CALIFORNIA AND
AUTHORIZING CERTAIN CITY OFFICIALS TO
EXECUTE THE AGREEMENT AND DOCUMENTS
RELATED THERETO.
WHEREAS, the City of Orange (the "City") is a municipal corporation pursuant to
the laws of the State of California; and
WHEREAS, the City and First Interstate Bank of California (the "Bank") desire to
enter into a Custodial Agreement (the "Agreement"); and
WHEREAS, the City Council finds that it is in the best interests of the City to enter
into the Agreement.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Orange as follows:
1. The Custodial Agreement between the City and the Bank is approved and the
City Manager is hereby authorized to execute the Agreement on behalf of the City of
Orange. Further, the City Manager and Finance Director, or their designees, jointly, are
hereby authorized to execute such agreements or documents as the Bank may request
including all renewals or amendments thereto) regarding City's custody account.
2. City authorizes the 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 authorized persons as designated in writing by the City Manager.
3. The Bank is authorized to act and rely on this Resolution until it actually
receives written notice of its revocation.
ADOPTED this 25th day of July 1995.
ATTEST:
Ph'z'5:yor Joanne Coontz
MARILYN J. JENSEN
City Clerk of the City of Orange
YlL.w.?'tJ C<,w<tP
Deputy Cl Ie
I hereby certify that the foregoing Resolution was duly and regularly adopted by
the City Council of the City of Orange at a regular meeting thereof held on the 25th
day of Julv . 1995, by the following vote:
A YES: COUNCIL MEMBERS: MURPHY, BARRERA, MAYOR COONTZ, SPURGEON,
SLATER
NOES: COUNCIL MEMBERS: NONE
ABSENT: COUNCIL MEMBERS: NONE
ABSTAIN: COUNCIL MEMBERS: NONE
MARILyN J. JENSEN
City Clerk of the City of Orange
By:
rJ/.
L.tAA~Mi ~
puty City t)erk
Reso.No.8499 2-ROF:aii