Report Prepared by: Bradley R. Grant - Finance Officer
Title
SUBJECT: Authorized Signatures
REPORT IN BRIEF
Consider granting new City Manager signing authority on bank accounts and Local Agency Investment Fund.
RECOMMENDATION
City Council/Public Financing and Economic Development Authority/Parking Authority - Adopt a motion:
A. Adopting Resolution 2016-01, a Resolution of the City Council of the City of Merced, California, authorizing signature of City checks; and,
B. Adopting Resolution 2016-02, a Resolution of the City Council of the City of Merced, California, authorizing investment of City of Merced monies in Local Agency Investment Fund; and,
C. Adopting Resolution PFA 2016-01, a Resolution of the City of Merced Public Financing and Economic Development Authority authorizing signature of Authority checks; and,
D. Adopting Resolution PFA 2016-02, a Resolution of the City of Merced Public Financing and Economic Development Authority authorizing investment of City of Merced monies in Local Agency Investment Fund; and,
E. Adopting Resolution PA 2016-01, a Resolution of the Parking Authority of the City of Merced, California, authorizing signature of Parking Authority checks; and,
F. Adopting Resolution PA 2016-02, a Resolution of the Parking Authority of the City of Merced, California authorizing investment of City of Merced monies in Local Agency Investment Fund
Body
ALTERNATIVES
1. Approve as recommended; or
2. Deny; or
3. Refer to staff for further study.
AUTHORITY
City Charter Section 405.
DISCUSSION
The following individuals are currently authorized to sign City checks and other documents evidencing payment of funds on behalf of the City of Merced and to use a facsimile signature. These same individuals are also authorized to deposit to and withdraw City funds from the Local Agency Investment Fund in the State Treasury.
1. Bradley R. Grant, Finance Officer
2. Teri L. Albrecht, Deputy Finance Officer
3. John M. Bramble, City Manager
The authorization needs to be changed to reflect the retirement of John M. Bramble and the hiring of Steve Carrigan as City Manager.
The attached resolutions accomplish the above change.
ATTACHMENTS
1. Resolution 2016-01
2. Resolution 2016-02
3. Resolution PFA 2016-01
4. Resolution PFA 2016-02
5. Resolution PA 2016-01
6. Resolution PA 2016-02