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20020312 r-02-12 R-02-12 RESOLUTION NO. 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are hereby designated as depositories of the City of Fairfax, Virginia, and that funds deposited in such banks may be withdrawn upon a check, draft, note wire or order of the City of Fairfax, Virginia; and BE IT FURTHER RESOLVED that, as of the date of this Resolution, Stephen L.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 Kenneth L. Ahl, II 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 instrmnents 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-92- 5 adopted by the City Council on March 10, 1992. Adopted this 12th day of March, 2002 The vote on the motion to approve was recorded as follows: VOTE: Councilman Coughlan Aye Councilman Greenfield Aye Councilman Lederer Aye Councilman Rasmussen Aye Councilman Rodio Aye Councilman Silverthorne Aye ATTEST: (~+~Mayor~~ ~it~' ~erk ~