HomeMy WebLinkAbout1997-09-09; City Council; Resolution 97-6001 ,
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RESOLUTION NO. 97-600
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD,
CALIFORNIA, APPROVING THE CUSTODY AGREEMENT BETWEEN THE
CITY OF CARLSAD AND UNION BANK OF CALIFORNIA
WHEREAS, The City of Carlsbad has terminated its custody
contract with Wells Fargo Bank as of November 1, 1997, and
WHEREAS, Union Bank of California has a reputation of providing
responsive custody services to municipalities at competitive rates, and
WHEREAS, Union Bank of California is the third largest commercial
bank in California, and
WHEREAS, Union Bank of California is considered by the Federal
Reserve System to be “well capitalized”, and
WHEREAS, Union Bank of California does business within the City
of Carlsbad, and
WHEREAS, Union Bank of California has the capability of providing
custody services as of November 1, 1997.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Carlsbad, California, as follows:
1. The City Manager is hereby authorized to sign the Custody
Agreement between the City of Carlsbad and Union Bank of California to provide
custody services as of November 1,1997.
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PAGE TWO OF RESOLUTION NO. 97-600
PASSED, APPROVED AND ADOPTED at a regular meeting of the
City Council on the 9th day of September, 1997, by the following vote, to wit:
AYES: Council Members Lewis, Finnila, Nygaard, Kulchin, a Ha
NOES: None
ABSENT: None -
CLAUDE A. LEWIS, Mayor
ATTEST:
7 ALETHA L. MU RANZ, City Clerk (SEAL)
KAREN R. KUNDTZ, Assistant City Clerk
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