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CITY COUNCIL OF THE CITY OF PLEASANTON <br /> <br />ALAMEDA COUNTY, CALIFORNIA <br /> <br />RESOLUTION NO. 79-213 <br /> <br />A RESOLUTION AUTHORIZING THE CITY MANAGER TO SIGN THE <br />SAFEKEEPING AGREEMENT BETWEEN THE CITY OF PLEASANTON <br />AND THE BANK OF AMERICA FOR HANDLING CITY INVESTMENTS <br /> <br />WHEREAS, <br /> <br />the City invests idle funds on a regular basis in different <br />types of securities, authorized by state and federal law, <br />through Bank of America; and <br /> <br />WHEREAS, <br /> <br />the City purchases the investments through the local branch <br />of the Bank of America and the bank keeps the securities <br />instead of physically transferring them to the City; and <br /> <br />WHEREAS, <br /> <br />the bank has requested that a Safekeeping Agreement be <br />approved to formally authorize the bank to hold securities <br />for the City. <br /> <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES <br />AS FOLLOWS: <br /> <br />Section 1. Authorizes the City Manager to sign the Safekeeping <br /> Agreement between the City of Pleasanton and the Bank of <br /> America for handling City investments. <br /> <br />Section 2. This resolution shall become effective immediately. <br /> <br />THIS RESOLUTION ADOPTED ON NOVEMBER 13, 1979, BY THE FOLLOWING VOTE: <br /> <br />AYES: Councilmembers - <br />NOES: None <br />ABSENT: None <br />ABSTAIN: None <br /> <br />Butler, Kephart, Mercer, Wood and Mayor Brandes <br /> <br />C~ay~o~ . ~rown, C'ty er <br />Doris George, Deputy City Clerk <br /> <br />APPRO ED AS TO F~~ <br />ne,City Attorney <br /> <br /> <br />