HomeMy WebLinkAboutResolution No. 422 603
RESOLUTION NO 422
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DOWNEY
DESIGNATION CERTAIN BANKS AS DEPOSITORIES OF CITY FUNDS,
AUTHORIZING SAID BANKS TO HONOR CHECKS, DRAFTS, WARRANTS,
AND WITHDRAWALS WHEN BEARING THE SIGNATURES OF CITY OFFICIALS,
AND RESCINDING RESOLUTION NO. 213.
THE CITY COUNCIL OF THE CITY OF DOWNEY DOES RESOLVE AS FOLLOWS:
SECTION 1. The Secutiry First National Bank of Los Angeles, Downey
Branch, the Golden State Bank, Downey Branch, the Bank of America, Downey
Branch, and the Community Bank, Downey Branch, are hereby authorized and
designated as depositories of City funds.
Said banks, as designated depositories of the City of Downey, hereby
are requested, authorized, and directed to honor all checks, drafts, warrants
or other orders for the payment of money drawn in the name of the City of
Downey on all its accounts when the same are drawn in accordance with the
provision of Part 1, Chapter 5, Article 2 of the Downey Municipal Code.
SECTION 2. The Security First National Bank of Los Angeles, Downey
Branck, the Golden State Bank, Downey Branch, the Bank of America, Downey
Branch, and the Community Bank, Downey Branch are hereby designated as
depositories of City funds for the deposit of funds in time depositv.
Withdrawals from said deposits may be made by a withdrawal slip
bearing the manual signatures of the Director of Dinance and the City Treas-
urer, and Mayor or Mayor Pro Tempore.
SECTION 3. The Mayor, City Treasurer and the Director of Dinance are
directed and authorized to execute such agreements as may be necessary to
effect the provisions of this Resolution.
SECTION 4. Resolution No. 213 is hereby rescinded.
SECTION 5. The City Clerk shall certify to the adoption of this
Resolution.
APPROVED AND ADOPTED this 12th day of May, 1959.
P /
Ma r
AT' ,ST: /
A
City Clerk
I hereby certify that the foregoing resolution was duly adopted by the
City Council of the City of Downey at a regular meeting thereof held on the
12th day of May, 1959, by the follow ng vote of the Council:
AYES: Councilmen ;
d NOES: Councilmen:
/ ABSENT: Councilmen: