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<br />l;rd G l f>~J\L <br /> <br />DES:djk 0 18/90 (015/28) <br /> <br />RES 0 L UTI 0 N <br /> <br />N O. l.l3...9 6 <br /> <br />SEP 2 4 1990 <br /> <br />RESOLUTION AUTHORIZING CITY MANAGER TO EXECUTION <br />AGREEMENT WITH THE BANK OF CALIFORNIA APPOINTING SAID <br />BANK AS AGENTS FOR THE CUSTODY OF CASH, SECURITIES AND <br />OTHER PROPERTY OF THE CITY OF REDWOOD CITY <br /> <br />WHEREAS, the City of Redwood City's Treasurer invests the <br /> <br />City's idle funds by buying securities permitted under the City's <br /> <br />investment policy and the Government Code of the State of <br /> <br />California; and <br /> <br />WHEREAS, it is in the interest of the City of Redwood City <br /> <br />that it receives possession of such securities bought with the <br /> <br />City's funds; and <br /> <br />WHEREAS, the Bank of California, San Francisco, California, <br /> <br />has agreed to act as City's agents to receive possession of such <br /> <br />securities on behalf of the City of Redwood City; <br /> <br />NOW, THEREFORE; <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY, AS <br /> <br />FOLLOWS: <br /> <br />That certain Agreement entitled "Custody Agreement - Client <br /> <br />Directed", (Form No. TRS-16014 (2-89)) by and between the City of <br /> <br />Redwood City, a municipal corporation of the State of California, <br /> <br />and The Bank of California, San Francisco, California, providing <br /> <br />for the appointment of said Bank as agents for the custody of <br /> <br />cash, securities, and other property of the City of Redwood City, <br /> <br />a copy of which agreement is attached hereto, marked Exhibit "A", <br /> <br />and by this reference incorporated herein, is hereby approved, and <br /> <br />the City Manager and City Clerk are hereby authorized and directed <br /> <br />to execute, and to attest thereto, said agreement for and on <br /> <br />behalf of the City of Redwood City. <br /> <br />* <br /> <br />* <br /> <br />* <br />