20020924 r-02-49RESOLUTION NO. R-02-49
A REOLUTION 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 2.2-4400 et 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 First Union National Bank, Bank of America,
SunTrust Bank and Cardinal 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Virginia, and that funds deposited in such banks may be withdrawn upon a check, draft, note,
wire 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 Jeffi'ey L. Barbour and Kusum Singh,
Deputy Treasurers, are hereby authorized, on behalf of the City of Fairfax, and in its name, to
sign banking services agreements and checks, drafts, notes, wires, bills or other instruments
made, drawn or endorsed by the City of Fairfax; and
BE IT FUTHER RESOLVED that the Treasurer of the City of Fairfax, or his
designee, is authorized to invest public funds in financial instruments designated by the Code
of Virginia as legally permissible for the investment of public funds by municipal
corporations; and
BE IT FURTHER RESOVED that this Resolution shall remain In full force and effect
from this date until written notice of It's 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-02-
12 adopted by the City Council on March 12, 2002.
Adopted this 24th day of September, 2002.
ATTEST:
Mayor
The motion to adopt the resolution was recorded as follows:
Councilwoman Cross
Councilman Greenfield
Councilwoman Lyon
Councilman Rasmussen
Councilman Silverthome
Councilwoman Winter
Vote:
Aye
Aye
Absent
Aye
Aye
Aye