ACTION REQUESTED:
Title
Communication from the City Manager and Finance Director/Comptroller with a Request to ADOPT a RESOLUTION Authorizing Named Banks to Honor Checks, Drafts, Etc. of the City of Peoria, Authorizing the City Treasurer, City Manager and the Finance Director/Comptroller to Accept and Release Securities for Safekeeping Held by a Third Party, and REPEALING Resolution No. 11-466.
Body
BACKGROUND: The attached Resolution is necessary to add the new Treasurer as an authorized signer as it relates to checks, drafts, and other orders for payment of money drawn in the name of the City of Peoria and the acceptance and release of any securities that are held by a third party for safekeeping, which are pledged as collateral for funds held at any of the listed institutions.
FINANCIAL IMPACT: N/A
NEIGHBORHOOD CONCERNS: N/A
IMPACT IF APPROVED: The City Treasurer, City Manager and Finance Director/Comptroller will be authorized signers and Resolution No. 11-466 will be repealed.
IMPACT IF DENIED: Resolution No. 11-466 will remain in effect. As a result, the new City Treasurer would not be an authorized signer.
ALTERNATIVES: N/A
EEO CERTIFICATION NUMBER: N/A
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL’S 2017 - 2032 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Financially Sound City
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMENT?
1. Have an efficient government.
DEPARTMENT: Finance