HomeMy WebLinkAboutRes1987-076
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Sponsored by: Garzini
CITY OF SEWARD, ALASKA
RESOLUTION NO. 87-076
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SEWARD, ALASKA, AUTHORIZING A SAFEKEEPING AGREEMENT
WITH THE FIRST NATIONAL BANK OF ANCHORAGE
WHEREAS, Section 10-21 of the City Code requires the
collateralization of city investments and deposits; and
WHEREAS, the city regularly invests public monies with
the First National Bank of Anchorage (the Bank); and
WHEREAS, the city's investments with the Bank will be
more fully protected by having all pledged collateral held
by the Trust Department of the Bank; and
WHEREAS, this safekeeping account service 1S offered by
the Bank at no charge to the city;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF SEWARD, ALASKA, that:
Section 1. The city manager is hereby authorized to
execute a safekeeping agreement with the Trust Department of
the First National Bank of Anchorage, a copy of which is
attached and incorporated herein by reference.
Section 2. This resolution shall take effect immedi-
ately upon its adoption.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
SEWARD, ALASKA, this ~ day of Auqust , 19 87.
THE CITY OF SEWARD, ALASKA
~.
Z U~~
f1AR . ~~R, MAYOR
AYES:
NOES:
ABSENT:
ABSTAIN:
DUNHAM, GIESELER, HILTON, MEEHAN, NOLL & SIMUTIS
NONE
BOOHER
NONE
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CITY OF SEWARD, ALASKA
RESOLUTION NO. 87-076
ATTEST:
(City Seal)
APPROVED AS TO FORM:
HUGHES, THORSNESS, GANTZ,
POWELL & BRUNDIN, Attorneys
for the City of Seward, AK
~ f1I it~
Fred B. Arvidson
City Attorney
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RESOLUTION NO. 87-076
ATTACHMENT "A"
!:',nFETEEF'II\l(3 AGnEEt'1EN'1
Fit 5t Notional Bank of Anchorage, (Depositor) hereby establishes
tt,is Safo~eepinq account ,for property deposited for the City of
::'f'I-,,,,,'rI, (Ft-incipalJ c\J'ld iJccepted by thr? Fit-sl: National Dank uf
f',r,ct.c,riHF', -[r-ust Uepartment (Depository/nCient) for si'<fekeepinq
frw 1:,118 dF"pDsits of the City of Sel'lard. D€!positur'y/nqellt will
prr'lvic.le lhc~ +olloltJinq :;;c'r'vices:
I. Safekeep Depositor's
inh~n",st: and t-t.:?mit to Depositor.
i'iSisets and co] 1 eet coupon
bond
~')llr'r'encl""r- o",t.Ut inq seCUt iLies foro' reclempLiul" ,e'.fIU/OJ'-
~:;l di~; I: j. t..L! t: ion, upon Pt- i IlC i pal' s consent. Dt:?po:5 i. tor--y I ()q(:.:11 I:. d\.H'-(?P~3
i,() ilifr,t-m F'lrinc,ipc\l promptly upon substitution. ~;'_\bstitLlLion uf
IJ.S. L0'/~1~1'1(nRrlt ~;ecLlrj tj.es of equivalel1t value (ioes tlot r-e(l~Jit.e
consp~l of Principal.
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Pr'ovi dp monthl y statement of lIol di nqs to l),,'pr)C,i tor Emu
Seward, Principal.
eiLvof
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F't i li/:lpi;d.
~'ji Uillt-cn.jal
I)elivpt- nt" r~(::ceivE.\ assets "'fr.ee"
((l 24 hour- notice to the Depositor-y
of sr~cut-itiE:s.)
cIS dirL'ctL'cl
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L), 'r-incipcd.
6. liE'pnsi tor-y/~1q("l\t has no duties not e~';pt-E:!'O'C;!V provided
I'LlI' hC'n:?in (including 1-1; 1;,l1out limitation, pn:Jsecution ,Jr- deFE'noE'
Df litigation) and I'dll not incLlt- liability if it sutlsL:'IILi,dly
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REOSLUTION NO. 87-076
ATTACHMENT "A"
1'). tk;pc6it'JI' :,1',.:,11 pay cOfllpf'nc','\ticHI to [I,,"p,,:,situl',! 111 ti,e
r:\jlll."Ilflt u.F ~.~_:)uu.tJu, i"Ot- CiJ.ch t.\'JelvE' t110nth pE.t-iod Df -:::.E.'t-vic.c'.
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LJ(~PCI~3i. t"nt-
cJ c.~ '/5 r\ /..- i Ot"
or- r--.'t-inc:j~',,_..1J may
l~t itter, rHJtice to
I er rl,i n",I:"
U,e otll[,r'
this
two
d{''It" f.;'t.'1ilt..'llt
pdt'ticei.
1 ~'. [:,,'11 k ii'''')' r pI 'y C Dr',c 1 us; i vel y .~\rlcl ae t upuri dny \'w i t ten
instr uctions ~,nd il110rm<3tiol1 received 'ft-orn tile Frlr,cipc~d by ",r,d
tI\rc]uLjtl tile +cdJc,will(J ",utho\-iZled individuals
~e It 5J qllalllt.'C's t-equl F"I?rJ)
)~~_...m.u
"ryl-' ~naefermeyer ---,--,
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Llrida"S .-..'Hurpny.....---...---------
lht:'
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d\",d ~;pc!ci lilt:!) si qni.~tur'e of- er.:~ch
15 duttlori;'~ed to fut ni~jh such
i lI"tl UC
City /"fanager
bepuEY"Ci i:y-~aiiager'
FTn-anc'e Dire Ct:o"!:'---
City Clerk
Bank 0 F nncliur'aqe
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