HomeMy WebLinkAboutRES 2626 CITY OF RENTON, WASHINGTON
RESOLUTION NO. 2626
A RESOLUTION OF THE CITY OF RENTON, WASHINGTON
AUTHORIZING SAFEKEEPING
WHEREAS it is necessary for third parties to provide safe-
keeping for security pledged by the seller when the City invests in
repurchase agreements; and
WHEREAS the City wishes to enter into such a safekeeping
agreement with Rainier National Bank; and
WHEREAS such safekeeping agreement is not only in the
public interest but required by the State Auditor, now therefore,
THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON DO
RESOLVE AS FOLLOWS:
SECTION I: The above recitals are found to be true and
correct in all respects.
SECTION II: That W. E. Bennett, Acting Financing Director,
S. Joan Pringle, Budget Supervisor, and Deanna J. Adair, Fund
Accounting Supervisor of the City of Renton be and they are hereby
authorized, either singly or acting together, to enter into an
agreement in such form and with such terms and conditions as may
be agreed upon and any renewal thereof, with Rainier National
Bank for the safekeeping of any property belonging to the City of
Renton which may now be in possession of or which may hereafter
be deposited with said Bank for safekeeping and from time to time
to designate the persons to act under such agreement. This resolution
shall remain in full force and effect until the Bank is given
r
RESOLUTION NO. 2626
written notice to the contrary at the office where any City
property is held for safekeeping.
PASSED BY THE CITY COUNCIL this 28th day of October , 1985 .
Maxine E. Motor, City Clerk
APPROVED BY THE MAYOR this 28th day of October , 1985 .
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Barbara Y. Shinpoch, Mayor
Approved as to form:
Lawrence J. Wa ren, City Attorney
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