HomeMy WebLinkAboutReso 2023-005 - Authorizing City Treasurer to Open Account w/Golden Valley BankRESOLUTION NO. 2023-005
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
AUTHORIZING THE CITY TREASURER TO OPEN A PUBLIC FUNDS
MONEY MARKET ACCOUNT WITH GOLDEN VALLEY BANK
WHEREAS, the City Council, through Council Policy No. 408, "desires to prioritize investments
that promote community economic development (i.e., dealing with local financial institutions, etc.)
provided that the investment selection criteria is met and yield is not significantly impacted. The
City Treasurer shall strive, whenever possible, to make investments that benefit the local area;"
and
WHEREAS, Golden Valley Bank serves businesses and individuals located in Shasta, Tehama,
Butte and Glenn Counties; and
WHEREAS, Golden Valley Bank has made available a competitive, highly -liquid, fully -
collateralized (in accordance with Government Code section 53652), public funds money market
investment opportunity; and
WHEREAS, to open the necessary accounts with the new institution, Golden Valley Bank, it is
necessary to designate individuals who are to be the authorized signers on behalf of the City of
Redding and its various entities;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF REDDING DOES
HEREBY RESOLVE THAT:
I The foregoing recitals are true and correct.
:n
2. The City Treasurer is authorized to open a public funds, money market account for City of
Redding with Golden Valley Bank.
3. The following individuals are designated as authorized signers on all accounts held with
Golden Valley Bank:
➢ Allyn Feci Clark, Finance Director and City Treasurer
➢ Jaedon Carlisle, Management Analyst
➢ Greg Robinett, Finance Officer
➢ Abby Schanuth, Senior Accountant
➢ Tammy Mann, Senior Accountant
4. Should one of the authorized signers leave the City's employment or their job
responsibilities change to no longer necessitate being an authorized
uthorized signer, the City
Manager, or his designee, is hereby designated and authorized to appoint a new signer to
replace said individual.
I
I HEREBY CERTIFY that the foregoing resolution was introduced and adopted at a regular
meeting of the City Council of the City of Redding on the 17th day of January, 2023, by the
following vote:
AYES: COUNCIL MEMBERS: Audette, Mezzano, Munns, Winter, and Dacquisto
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
0401
PAMELA MIZE, CV,
Vberk
MICHAEL DACQUISTO, Mayor
FORM APPROVED:
BARRY E. DeWAfT,`City Attorney