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� ` • ' ' . i, (. . � � � . Contract for Deposit of Moneys t� THlS CONTRACT, relating to the deposif of moneys, is made as of the �d day of �i��0'�'� , � 2003, beiween (°Treasure�°}acting in his or her afficiai capacity as Treasurer of CITY OF REDWOOD C1TY ("Deposito�'), and WELLS FARGO BANK, NATIONAL ASSOCiATION (°Bank"), having a sharehalder's equity of$13,805,000,000.00 on December 31, 2002, and is made wlth reference to the failowfng facts: WHEREAS, the Treasurer praposes to deposit in the Bank from time to time, moneys in hIs or her custody in an aggregate amount on deposit at any ane time not to exceed the tatal shareholder's equHy af the Bank,and said moneys wlif be depos!#ed subject to Tltle 5, Division 2, Part 9, Chapter 4, Article 2 {comrnencing with Section 53630}of the Government Code of the State af Caiifornia(the"Local Agency Deposit Security LavW"). WHEREAS, the Goverr�ment Code requires the Treasurer to enter into a contract wifh the Bank setting forth the conditfons upon which said moneys are deposited. . � �: WHEREAS, in the judgment of the Treasurer,this Contract is to the public advantage. NOW,THEREFORE,the parfles agree as foilows: . 1. This Contract cancels and supersedes any previous contracts between the Treasurer and the Bank relating to the me�hod of�collateralization of Depositor's depostts. To the extent not inconsistent herewlfh, any such deposlt shall be•subject to the terms and conditions of the Bank's standard disciosure statement(as in effect from time to time)for deposits of that type. . ' 2. This cantract, but not deposits then held hereunder, is subject to termtnation by the Treasurer or the Bank at any tlme upon 30 days' wrftten notice. Deposits may be wlthdrawn in accordance with the agreement of the parties and applicable#ederal and st�te statutes, rules and regulations. �This contract is subject to modiflcation or termination upon snactment of any statute, rule, or regulatian, state or federal,� whlch, in� khe opinion of the Administrator of Local Agency Security of the State of Cat(fomia (the "Admintstrator"), is inconsistent herewith, inctuding any change relative to the payment af interest upon moneys so deposited by the Treasurer. The Treasurer may withdraw Deposttor`s deposits from the Bank immediately tapan receiving notice from the Administrator that,the Sank has fafled to pay assessments,fines or penalties assessed by the Administrator. The 7reasurer may lmmedlately upon receiving notice from the Administrator withdraw authorizatfon for the placement of securitles with ihe Agent of �he Depository in the event that the Agent af the Depository faiEs ta�pay ffnes or . penalties assessed by the Administrato�. 3. interest shall accrue on any moneys so deposited as permitted by any act of Congress of fhe Unkted States or by any rule ar regulatlon af any department or agency of the �ederal Govemment. 4f interest may legally be paid on the account into whtch the moneys are deposited, then ali maneys deposited shall bear inferest at a rate agreed upon by the Treasurer and the Bank. 4. The Bank shall issue�to the Treasurer for each daposlt a receipt on a form agreed ta by the Bank and ihe Treasurer,s tating t he i nterest t o b e p aid(if a ny),t he d urafion o f t he d eposit (if apprapriate), the frequency of interest payments (If any} and the terms of withdrawal. Each such deposit receipt is by reference made a pa�t of this contract. 1