HomeMy WebLinkAboutReso 2023-004 - Authorize City Treasurer to Open Account w/Northern CA National BankRESOLUTION NO. 2023-004
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
AUTHORIZING THE CITY TREASURER TO OPEN A PUBLIC FUNDS
MONEY MARKET ACCOUNT WITH NORTHERN CALIFORNIA
NATIONAL 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, Northern California National Bank serves businesses and individuals located in
Shasta, Tehama, Butte and Glenn Counties; and
WHEREAS, Northern California National 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, Northern California
National 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:
1. The foregoing recitals are true and correct.
2. The City Treasurer is authorized to open a public funds, money market account for City of
Redding with Northern California National Bank.
3. The following individuals are designated as authorized signers on all accounts held with
Northern California National Bank:
➢ Allyn Feci Clark, Finance Director and City Treasurer
➢ Jaedon Carlisle, Management Analyst
➢ 4:)
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 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 and adopted at a regular
meeting of the City Council of the City of Redding on the 17'h 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
ATTEST:
PAMELA� ffhE, CityVrk
MICHAEL DACQUISTO, Mayor
BARB E. - De AL tAttorney