CC RES 2015-003 RESOLUTION NO. 2015-03
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO
PALOS VERDES DESIGNATING SIGNATORIES FOR THE CDARS
PROGRAM WITH MALAGA BANK
WHEREAS, on December 3, 2013, the City Council of the City of Rancho Palos
Verdes ("City") adopted Resolution No. 2013-77 approving the form Certificate of Deposit
Account Registry Service (CDARS) agreement through Promontory Interfinancial
Network ("Promontory"), and designating signatories for implementation of the CDARS
program with Malaga Bank; and
WHEREAS, on December 11, 2014, due to forthcoming changes in City staff, the
Acting City Manager/Deputy City Manager appointed the Deputy Director of Finance as
Acting City Treasurer;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RANCHO PALOS
VERDES HEREBY FINDS, ORDERS AND RESOLVES AS FOLLOWS:
The following officials identified by position title, are hereby each designated and
appointed to serve as signatories on any accounts established with Malaga Bank in
accordance with the CDARS Deposit Placement Agreement and Custodial Agreement:
(1) Carolynn Petru, Acting or Interim City Manager; and
(2) Kathryn Downs, Acting City Treasurer or Deputy Director of Finance.
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ATT
City Clerk
State of California )
County of Los Angeles )ss
City of Rancho Palos Verdes )
I, Carla Morreale, City Clerk of the City of Rancho Palos Verdes, hereby certify that the
above Resolution No. 2015-03 was duly and regularly passed and adopted by the said
City Council at regular meeting thereof held on January 6, I 5.
City Clerk