HomeMy WebLinkAboutReso 2003-022 - Convention Center Show SettlementsiRESOLUTION NO. 2003-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
AUTHORIZING THE CITY TREASURER TO OPEN AN ACCOUNT AT
WELLS FARGO BANK FOR THE PAYMENT OF CONVENTION CENTER
SHOW SETTLEMENTS DIRECTLY FOLLOWING PERFORMANCES.
WHEREAS:
A. Current entertainment-industry practice dictates the settling of contractual obligations
with promoters and performers qirectly following a performance.
B. The Convention Center, in its desire to be competitive within the entertainment industry,
requests the ability to provide final settlement of accounts directly following each performance.
C. The Finance Division and the City Treasurer agree that an account with expenditure
limitations not to exceed $20,000, operated on an imprest basis, will meet the needs of the
Convention Center and limit the exposure of risk to the City.
THEREFORE, IT IS RESOLVED that the City Council of the City of Redding hereby
authorizes the City Treasurer to open an account at Wells Fargo Bank for the payment of Convention
Center show settlements directly following each performance, with expenditure limitations not to
exceed $20,000.00, operated on an imprest basis.
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 18th day of February, 2003, by
the following vote:
AYES: coUNCIL MEMBERS: K±ght,
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
Mathena, Pohlmeyer,
Stegall and Cibula
Attest:
Form Approved:
Brad L. Fuller, City Attorney