Resolution Number 87-4-7-4RESOLUTION NO. 87-4-7-4 9 53
DEPOSIT AND INVESTMENT OF CITY FUNDS ���i//
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, AND REPEALING
RESOLUTION NO. 86-4-15-2
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 and the
Director of Administrative Services of the City of San Juan Capistrano are hereby
authorized to establish such accounts; and,
WHEREAS, Section 53607 of the California 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,
and/or the 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, John C. Gibson, and Robert G. Boone, 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:
Anthony L. Bland, Mayor; or
Lawrence F. Buchheim, Mayor Protem; and
John C. Gibson, City Treasurer; or
Mary Ann Hanover, Deputy City Treasurer; or
Robert G. Boone, Director of Administrative Services
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4 BE IT FURTHER RESOLVED, that the signature of the Mayor or Mayor pro
tem may be facsimiles.
BE IT FURTHER RESOLVED, that Resolution No. 86-4-15-2 is hereby
repealed.
PASSED, APPROVED, AND ADOPTED this 7th day
of April ____y 1987.
� L
ANTHONY L. B , MAYOR
ATTEST:
ITY C ER
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss
CITY OF SAN JUAN CAPISTRANO )
I, MARY ANN HANOVER, 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. 87-4-7-4 adopted by the City Council of the City of San Juan
Capistrano, California, at a regular meeting thereof held on the 7th day
of Anril , 1987, by the following vote:
AYES: Councilmen Schwartze, Friess, Buchheim, Hausdorfer,
and Mayor Bland
NOES: None
ABSENT: None
(SEAL)
MARY ANNrNOVER, U1TY CLERK _
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