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EXHIBIT 1 <br />RESOLUTION <br />RESOLUTION NO. 2016 -xxx <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br />OF SANTA ANA DESIGNATING JP MORGAN CHASE <br />BANK, N.A., AS THE DEPOSITORY FOR CITY OF <br />SANTA ANA FUNDS, EFFECTIVE JANUARY 1, 2017, <br />AND DESIGNATING SIGNATORIES AUTHORIZED FOR <br />THE PURPOSE OF WITHDRAWAL OF SAID FUNDS <br />LS 11 .28.16 <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA AS FOLLOWS: <br />Section 1, The City Council of the City of Santa Ana hereby finds, <br />determines and declares as follows: <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 <br />as depository for the demand deposits of City funds. <br />B. After receiving and reviewing a number of proposals for the depository <br />( "banking ") services required, the City hereby designates JPMorgan <br />Chase Bank, N.A., 1300 North Main Street, Santa Ana, California <br />('Bank "), as the banking institution that shall receive and act as <br />depository for City funds and trust funds in control of said City, <br />beginning January 1, 2017, for an initial term of three (3) years, with <br />one option to extend for an additional two -year term, exercisable by the <br />City Manager and City Attorney, so long as the pricing for the option <br />period does not exceed the initial term pricing. Should the optional <br />extension exceed the pricing of the initial term, such extension shall be <br />subject to City Council approval. <br />Section 2. The Executive Director of Finance and Management Services of <br />the City is hereby authorized for and on behalf of the City, and as its officer and <br />agent, to sign City of Santa Ana checks for the withdrawal of said funds so <br />deposited, both by facsimile signature machine - imprinted upon City checks and by <br />manually affixed signature upon City checks. <br />Section 3. The Treasury and Customer Services Manager of the City and the <br />Assistant Finance Director of the City are hereby authorized for and on behalf of the <br />City, and as agents of the City and deputies of the Executive Director of Finance and <br />Management Services to sign City of Santa Ana checks for the withdrawal of said <br />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 by any of the persons hereinabove authorized, in the amounts shown on <br />the face of said checks. <br />55E -7 <br />