CC RES 2015-056 RESOLUTION NO. 2015-56
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 Director of Finance as 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) Doug Willmore, City Manager; and
(2) Deborah Cullen, City Treasurer or Director of Finance.
PASSED, APPROVED AND ADOPTED THE 7111 DAY OF JULY 2015.
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ATTEST:
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. 2015-56 was duly and regularly passed and adopt'd by the said City Council at
regular meeting thereof held on July 7, 2015.
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City Clerk