Resolution No. 5143
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RESOLUTION NO. 5143
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
3 OF VERNON AUTHORIZING FLEMING & ASSOCIATES
TO ESTABLISH A CITY OF VERNON LIABILITY
4 INSURANCE TRUST ACCOUNT WITH FIRST INTERSTATE
BANK OF CALIFORNIA AND AUTHORIZING THE
5 EXECUTION OF CHECKS OR OTHER INSTRUMENTS
NECESSARY FOR THE ADMINISTRATION OF THE CITY
6 OF VERNON LIABILITY INSURANCE PROGRAM
7 WHEREAS, the City Council of the City of Vernon adopted
8 Resolution No. 5118 on June 19, 1984, which authorized Fleming &
9 Associates to establish a City of Vernon ~iability Insurance
10 Trust Account with Wells Fargo Bank, N.A.; and
11 WHEREAS, Wells Fargo Bank, N.A., has advised the City
12 of Vernon that it intends to close its Vernon branch office; and
13 WHEREAS, the City Council of the City of Vernon wishes
14 to establish a City of Vernon Liability Insurance Trust Account
15 at First Interstate Bank of California instead of at vlells Fargo
16 Bank, N.A. because of this change in location.
17 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
18 THE CITY OF VERNON AS FOLLOWS:
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SECTION 1: That First Interstate Bank of California is
20 hereby selected and designated as a depository of funds of the
21 City of Vernon and that such deposit account or accounts be
22 established and maintained by and in the name of the City of
23 Vernon and at such office or offices of the Bank and upon and
24 subject to such terms and conditions as the City Clerk may
25 from time to time agree upon with the Bank.
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SECTION 2: That all checks, drafts, orders, receipts,
27 and other instruments drawn, accepted, or given by the City of
28 Vernon for payment from any such accounts or at any such office
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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
G. DAVID MARCEAU, Vice President
WILLIAM A. LANGE, Data Processing Manager
T. DAVID WAKEHAM, Claims 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 of
without designation or signature of the persons making such
endorsement.
SECTION 4: That the Bank be and hereby is requested
and authorized to ~onor, receive, certify, or pay any such
check, draft, order, receipb, 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 Agreement with First Interstate Bank of
California, 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
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1 hereby authorizes the City Clerk to execute said Agreement for,
2 and on behalf of, the City of Vernon.
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SECTION 7: That any resolution or parts of a
4 resolution in conflict with this Resolution are hereby repealed,
5 specifically Resolution No. 5118.
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SECTION 8: The City Clerk of the City of Vernon shall
7 certify to the passage of this Resolution and thereupon and
8 thereafter the same shall be in full force and effect.
9 APPROVED AND ADOPTED this 2nd day of October, 1984.
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ATTEST:
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BRUCE V. MALKENHORS , City Clerk
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1 STATE OF CALIFORNIA )
) ss.
2 COUNTY OF LOS ANGELES )
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4 I, BRUCE V. MALKENHORST, City Clerk of the City of
5 Vernon, do hereby certify that the foregoing Resolution, being
6 Resolution No. 5143
, was duly adopted by the City Council of
the City of Vernon, and was approved by the Mayor of said City
Ian adjourned
at a regular meeting of the City Council held on Tuesday,
October 2 ,19 84
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BRUCE V. MALKENHORST, City
Clerk
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