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Council adopts ordinance allowing city manager and finance director to sign depository agreements
Summary
Council read, moved and passed an ordinance authorizing the city manager and finance director to enter deposit agreements for active, interim and inactive city funds, citing City Charter section 4.05 and allowing passage upon first reading.
At the meeting the council read and moved for passage an ordinance authorizing the city manager and finance director to enter depository agreements for active, interim and inactive city funds. The ordinance was presented as a routine five-year update that allows the city's financial officers to sign required bank paperwork.
"Every five years, we request from banks depository agreements and have received the map and this is just allowing David and I to sign them," the city attorney explained, describing the item as a recurring administrative action. A council member moved for passage, the motion was seconded and the council recorded affirmative roll-call responses; the ordinance was adopted upon first reading as permitted by Charter section 4.05.
The item was described in the packet as a standard administrative authorization; council members did not raise substantive changes to policy or funding as part of the discussion.
