Resolution No. 5118
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RESOLUTION NO. 5118
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF VERNON AUTHORIZING FLEMING & ASSOCIATES
TO ESTABLISH A CITY OF VERNON LIABILITY
INSURANCE TRUST ACCOUNT WITH WELLS FARGO
BANK, N.A., AND AUTHORIZING THE EXECUTION OF
CHECKS OR OTHER INSTRU~mNTS NECESSARY FOR
THE ADMINISTRATION OF THE CITY OF VERNON
LIABILITY INSURANCE PROGRAM
WHEREAS, the City of Vernon wishes to establish a
City of Vernon Liability Insurance Trust Account; and
WHEREAS, Bruce V. Malkenhorst, City Administrator/City
Clerk has determined that said account should be established
with Wells Fargo Bank, N.A.
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NOW, THEREFORE, BE IT RESOLVED BY THE CI~ COUNCIL OF
THE CITY OF VERNON AS FOLLOWS: ~
SECTION l: That Wells Fargo Bank, N.A. is hereby
15 selected and designated as a depository of funds of the City
16 of Vernon and that such deposit account or accounts be
17 established and maintained by and in the name of the City of
18 Vernon and at such office or offices of the Bank and upon and
19 subject to such terms and conditions as the City Clerk may
20 from time to time agree upon with the Bank.
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SECTION 2: That all checks, drafts, orders, receipts,
and other instruments drawn, accepted, or given by the City of
Vernon for payment from any such accounts or at any such office
be signed on behalf of the City of Vernon by any two of the
following named persons:
WM. EDWARD FLEMING, President - Fleming &
Associates, Administrators
DONALD G. ANDERSON, Vice President
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G. DAVID MARCEAU, Vice President
WILLIAM A. LANGE, Data Processing Manager
SECTION 3: That the Bank may accept for deposit or
collection any check, draft, order, or other instrument for the
payment of money, whether or not endorsed in the name of the
City of Vernon by written or stamped endorsement and with or
without designation or signature of the persons making such
endorsement.
SECTION 4: That the Bank be and hereby is requested
and authorized to honor, receive, certify, or pay any such
check, draft, order, receipt, or other instrument signed or
endorsed in accordance with this Resolution and the certifi-
cation then in effect as provided for in this Resolution,
including any thereof presented for negotiation, encashment, or
payment by, or drawn or endorsed to the personal order of, any
person signing or endorsing the same.
SECTION 5: That the City Council of the City of
Vernon hereby approves the account agreement with Wells Fargo
Bank, N.A., a copy of which has been presented to the City
Council concurrently with this Resolution and the City Council
hereby orders said Agreement to be received and filed by the
City Clerk.
SECTION 6: That the City Council of the City of
Vernon hereby authorizes the City Clerk to execute said
Agreement for, and on behalf of, the City of Vernon.
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SECTION 7: The City Clerk of the City of Vernon shall
2 certify to the passage of this Resolution and thereupon and
3 thereafter the same sha11'be in full force and effect.
4 APPROVED AND ADOPTED this 19th day of June, 1984.
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STATE OF CALIFORNIA- )
) SSe
COUNTY OF LOS ANGELES )
I, BRUCE V. MALKENHORST, City Clerk of the City of
do hereby certify that the foregoing Resolution, being
Resolution No. 5118 ,was duly adopted by the City Council of
the City of Vernon, and was approved by the Mayor of said City
an adjourned
;{. regular meeting of the City Council held on Tuesday,
June 19
, 19 84
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BRUCE V. MALKENHORST, City
Clerk
(SEAL)