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RESOLUTION NO. 2025-037 <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, FOR TWO (2) ADDITIONAL YEARS THROUGH <br /> DECEMBER 31, 2028, AND DESIGNATING SIGNATORIES <br /> AUTHORIZED FOR THE PURPOSE OF WITHDRAWAL OF <br /> 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 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 as <br /> depository for the demand deposits of City funds. <br /> B. The City has an existing Banking Services Agreement (No. A-2016- <br /> 366), including all amendments (No. A-2021-285), with J.P. Morgan <br /> Chase Bank, N.A., effective December 6, 2016 through December 31, <br /> 2026. <br /> C. After reviewing the outstanding performance of J.P. Morgan Chase <br /> Bank, N.A. as the City's depository banking services provider and having <br /> found J.P. Morgan Chase Bank, N.A.'s proposal for continued <br /> depository banking services to be superior in terms of pricing and bank <br /> managed earnings credit, the City hereby re-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, for two <br /> (2) additional years beginning January 1, 2027 through December 31, <br /> 2028. <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 <br /> acting as designee of the Executive Director of Finance and Management Services) are <br /> hereby authorized for and on behalf of the City, and as its officers and agents, to sign City <br /> of Santa Ana checks for the withdrawal of said funds so deposited, both by facsimile <br /> signature machine-imprinted upon City checks and by manually affixed signature upon <br /> City checks. <br /> Resolution No.2025-037 <br /> Page 1 of 3 <br />