19920310 r-92-5RESOLUTION NO. R-92-5
A RESOLUTION DESIGNATING DEPOSITORIES OF THE
CITY OF FAIRFAX, VIRGINIA, AND STATING
AUTHORITY TO INVEST PUBLIC FUNDS.
BE IT RESOLVED by the City Council of the City of Fairfax,
Virginia, that the Treasurer of the City of Fairfax, in accordance
with the Virginia Security for Public Deposits Act (Section 2.1-
359 e__t seq. of the Code of Virginia, 1950, as amended) is
authorized to deposit funds under his control in the qualified
public depositories listed herein; and
BE IT FURTHER RESOLVED that Signet Bank, NationsBank, First
American Bank, and George Mason Bank are hereby designated as
depositories of the City of Fairfax, Virginia, and that funds
deposited in such banks may be withdrawn upon a check, draft, note
or order of the City of Fairfax, Virginia; and
BE IT FURTHER RESOLVED that, as of the date of this
Resolution, Stephen L. Moloney, Treasurer of the City of Fairfax,
Virginia, or Kenneth L. Ahl, II, Deputy Treasurer, are hereby
authorized, on behalf of the City of Fairfax, and in its name, to
sign banking services agreements and checks, drafts, notes, bills
or other instruments made, drawn or endorsed by the City of
Fairfax; and
BE IT FURTHER RESOLVED that the Treasurer of the City of
Fairfax is authorized to invest public funds in financial
instruments designated by the Code of Virqinia as legally
permissible for the investment of public funds by municipal
corporations; and
BE IT FURTHER RESOLVED that this Resolution shall remain in
full force and effect from this date until written notice of its
amendment or rescission shall have been received by the designated
depositories and that receipt of such notice shall not affect any
action taken by any designated depository prior to receipt of such
notice; and
BE IT FURTHER RESOLVED that this Resolution supercedes
Resolution No. R-87-23 adopted by the City Council on May 26, 1987.
ADOPTED this ]0th day of March
, 1992.
MAYOR
ATTEST: