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WHEREAS, CERBT ha e co ct with the Port but will allow the <br /> establishment of a separate Port sub-account under the City of Redwood City's <br /> primary account previously established by contract between CERBT and the City of <br /> Redwood City; and <br /> WHEREAS, CERBT requires the Redwood City Council, in a public meeting, <br /> to authorize the positions specified on the Delegation of Authority to Request <br /> Disbursements, in order that the Chairman of the Board of Port Commissioners and <br /> Executive Director of the Port of Redwood City may request disbursements from the <br /> sub-account. <br /> NOW, THEREFORE; <br /> BE IT RESOLVED BY THE BOARD OF PORT COMMISSIONERS OF THE <br /> CITY OF REDWOOD CITY AS FOLLOWS: <br /> 1. The Redwood City Council shall be requested to authorize the <br /> establishment of a Port sub-account under the City of Redwood City's contract with <br /> CERBT. <br /> 2. The Redwood City Council shall be requested to consider a resolution (the <br /> "Resolution") approving execution of the Delegation of Authority to Request <br /> Disbursements (the "Document") naming the positions of Chairman of the Board of <br /> Port Commissioners and Executive Director of the Port of Redwood City as <br /> authorized to request disbursements from the Port's sub-account. <br /> 3. Should the Redwood City Council pass the Resolution, the Document shall <br /> (i) be executed in duplicate and submitted to CERBT in accordance with its <br /> instructions; and (ii) supersede the Delegation of Authority to Request <br /> Disbursements adopted June 8, 2011, by Resolution P-2138. <br /> 4. This resolution shall be effective upon its adoption. <br /> * * * * * <br /> RESO P-22�6 <br /> Port of RWC/CH/05.08.13 2 ��a <br /> S�� <br />