Resolution Number 92-10-20-1RESOLUTION NO. 92-10-20-1
DEPOSIT AND INVESTMENT OF CITY FUNDS AND AUTHORIZING SIGNATURES
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN
JUAN CAPISTRANO, CALIFORNIA, DELEGATING TO THE CITY
TREASURER AUTHORITY TO DEPOSIT CITY FUNDS AND TO
INVEST OR REINVEST CITY FUNDS, AUTHORIZING SIGNATURES
AND REPEALING RESOLUTION NO. 91-12-3-1
WHEREAS, Article 1, Chapter 4, Division 2, Title 5 of the Government Code
authorizes the City Council to invest and reinvest available funds in certain designated
securities as listed in Section 53601 of that Code; and,
WHEREAS, Article 2, Chapter 4, Division 2, Title 5 of the Government Code
requires that all City monies be deposited for safe -keeping in state or national banks or
state or federal savings and loan associations, and that the City Treasurer/ Director of
Administrative Services of the City of San Juan Capistrano is hereby authorized tot,
establish such accounts; and,
WHEREAS, Section 53607 of the California Government Code further permits
the City Council to delegate such authority and requirements to its City Treasurer; and,
WHEREAS, this City Council deems it to be in the best interests of the City of
San Juan Capistrano for such investments and deposits to be made by the City
Treasurer/Director of Administrative Services.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of
San Juan Capistrano does hereby delegate the authority granted to it by the aforesaid to
the City Treasurer/Director of Administrative Services,
BE IT FURTHER RESOLVED, that this authority shall continue until such time
as it shall be revoked by the City Council.
BE IT FURTHER RESOLVED, that the City Treasurer be and is hereby
directed to abide by all of the obligations and responsibilities imposed upon him by the
aforesaid statutes.
BE IT FURTHER RESOLVED, that the following officers of the City of San
Juan Capistrano are hereby authorized to draw checks on said deposit accounts of the
City of San Juan Capistrano that are duly certified by the City Clerk of the City of San
Juan Capistrano and on file at depositories. Depositories are hereby authorized to honor
and pay any and all checks so signed.
Gil Jones, Mayor; or
Kenneth E. Friess, Mayor pro tem; and,
Cynthia L. Pendleton City Treasurer/ Director of
Administrative Services, or
George Scarborough Deputy City Treasurer.
BE IT FURTHER RESOLVED, that the signature of the Mayor or Mayor pro
tem may be facsimiles.
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ice"
BE IT FURTHER RESOLVED, that Resolution No. 91-12-3-1 is hereby
repealed.
PASSED, APPROVED, AND ADOPTED this 20th day
Of October , 1992.
ATTEST:
C�IYi"1�e77/ /
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF SAN JUAN CAPISTRANO )
I, CHERYL JOHNSON, City Clerk of the City of San Juan Capistrano,
California, DO HEREBY CERTIFY that the foregoing is a true and correct copy of
Resolution No.g2-i0-20-1 adopted by the City Council of the City of San Juan
Capistrano, California, at a regular meeting thereof held on the 20th day
Of October , 1992, by the following vote:
AYES: Councilmen Friess, Hausdorfer, Harris, Vasquez and
Mayor Jones
NOES: None
ABSTAIN: None
ABSENT: None
(SEAL) &1C `� K
CHERYL JO S , CITY CLERK
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