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RESOLUTION NO. 2021-080 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA DESIGNATING JP MORGAN CHASE BANK, <br />N.A., AS THE DEPOSITORY FOR CITY OF SANTA ANA <br />FUNDS, EFFECTIVE JANUARY 1, 2022, AND <br />DESIGNATING SIGNATORIES AUTHORIZED FOR THE <br />PURPOSE OFWITHDRAWAL OF SAID FUND <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS <br />FOLLOWS: <br />Section 1. The City Council of the City of Santa Ana hereby finds, determines <br />and declares asfollows: <br />A. The City Council of the City of Santa Ana ("City") has declared a policy <br />of designating a bank within the City or in its immediate vicinity to act as <br />depository for the demand deposits of City funds. <br />B. After reviewing the outstanding performance of J.P. Morgan Chase Bank, <br />N.A. as the City's depository banking services provider beginning from <br />January 1, 2017 through December 31, 2019 and having found J.P. <br />Morgan Chase Bank, N.A.'s proposal for continued depository banking <br />services to be superior in terms of pricing and bank managed earnings <br />credit, the City hereby re -designates JPMorgan Chase Bank, N.A., 1300 <br />North Main Street, Santa Ana, California ("Bank"), as the banking <br />institution that shall receive and act as depository for City funds and trust <br />funds in control of said City, beginning January 1, 2022, for a term of five (5) <br />years through December 31, 2026. <br />Section 2. The Executive Director of Finance and Management Services of the <br />City and the Assistant Director of Finance and Management Services of the City (when acting <br />as designee of the Executive Director of Finance and Management Services) are hereby <br />authorized forand on behalf ofthe City, and as itsofficers and agents, to sign Cityof Santa <br />Ana checks for the withdrawal of said funds so deposited, both by facsimile signature <br />machine -imprinted upon City checks and by manually affixed signature upon City <br />checks. <br />Section 3. The Assistant Director of Finance and Management Services and the <br />Treasury and Customer Services Manager of the City are hereby authorized for and <br />on behalf ofthe City, and as agents of the City and deputies of the Executive Director <br />of Finance and Management Services to sign City of Santa Ana checks for the <br />withdrawal of said funds so deposited by manually affixed signature thereon. <br />Section 4. Said Bank is hereby authorized and directed to pay out from said <br />City funds to the payees respectively designated on any City checks, signed in the <br />manner and byanyofthe persons hereinabove authorized, inthe amounts shown on the <br />face of said checks. <br />Resolution No.2021-080 <br />Page 1 of 3 <br />