HomeMy WebLinkAboutReso 2017-059 - Imprest Demand Account RESOLUTION NO. 2017-059
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
REDDING DESIGNATING SIGNERS FOR THE IMPREST DEMAND
ACCOUNT HELD BY US BANK
WHEREAS, effective July 2017, the City of Redding is mandated by Ca1PERS to remit
retirement contributions electronically; and
WHEREAS, the City of Redding desires to comply with said mandate in the most cost
effective and secure method which is deemed to be the Electronic Funds Transfer (EFT) Debit
Method; and
WHEREAS, this method allows Ca1PERS to initiate a debit transfer from the City of
Redding Imprest Account, which is limited to the transfer of retirement contributions only; and
WHEREAS, the account designated solely for this purpose will be opened with US
Bank, in accordance with the existing contract and banking agreement adopted by Council in
July 2014, and it is necessary to designate individuals who are to be the authorized signers on
behalf of the City of Redding;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF REDDING DOES
HEREBY RESOLVE THAT:
1. The aforementioned recitals are true and correct.
2. In accordance with the contract with US Bank, the following bank account will be
opened:
➢ City of Redding— Imprest Retirement Contributions Account
3. The following individuals are designated as authorized signers on this and all
accounts held with US Bank:
➢ Allyn Feci Van Hooser, City Treasurer
Ronica Sowers, Deputy City Treasurer
➢ Chris Yeager, Management Analyst
➢ Dennice Maxwell, Director of Finance
➢ Ron Pennington, Senior Accountant
➢ Tanis Boucher, Accountant
to
4. Should one of the authorized signers leave the City's employment or their job
responsibilities change to no longer necessitate being an authorized signer, the
City Manager, or his designee, is hereby designated and authorized to appoint a
new signer to replace said individual.
I HEREBY CERTIFY that the foregoing resolution was introduced, read, and adopted
at a regular meeting of the City Council of the City of Redding on the 18`h day of July, 2017, by
the following vote:
AYES: COUNCIL MEMBERS: McElvain, Schreder, Sullivan,Winter, & Weaver
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
BRENT WEAER, Mayor
Y
ATTEST: APPROVED AS TO FORM:
PAMELA MIZE, City Clem B RRY E e ALT, City Attorney