HomeMy WebLinkAboutORDINANCES-2018-067-O-185/31 /2018
67-0-18
AN ORDINANCE
Updating Authorized Signatories and Financial Institutions for
Deposits/Investments of City Funds
WHEREAS, the City of Evanston (hereinafter, the "City"), located in Cook
County, Illinois, is a home rule unit of government under the provisions of Article 7 of the
1970 Constitution of the State of Illinois, can exercise any home rule power and perform
any function pertaining to its government affairs, including but not limited to the power to
tax and incur debt; and
WHEREAS, pursuant to 65 ILCS 5/3.1-35-50, the municipal treasurer is
authorized to deposit all funds and money belonging to the City in depositories
designated by ordinance of the corporate authorities; and
WHEREAS, the City of Evanston, Cook County, Illinois maintains its
savings, checking, and investment accounts at various institutions; and
WHEREAS, it is necessary and appropriate for the City Council to
approve by ordinance those financial institutions and brokers with whom the City is
authorized to invest, and those City employees authorized by the City Council as
signatories on various City financial institution accounts,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF EVANSTON, COOK COUNTY, ILLINOIS:
SECTION 1: That the foregoing recitals are found as fact and made
a part hereof.
67-0-18
SECTION 2: The following individuals may be authorized signatories on
various City financial institution accounts:
Wally Bobkiewicz, City Manager
Hitesh Desai, Chief Financial Officer/City Treasurer
Ashley King, Budget & Finance Manager
Andrew Villamin, Accounting Manager
SECTION 3: Authorized City staff may invest City non -fiduciary funds with
the following financial institutions and/or brokers:
JP Morgan Chase
1st Bank of Evanston
PMA Financial Network, Inc.
Byline Bank (formerly First Bank and Trust)
Zions First National Bank
US Bank
The Vanguard Group
Wells Fargo
MB Financial
BMO Harris
Illinois Metropolitan Investment Fund
Illinois Funds
5/3 Securities, Inc.
PFM Investment Services
Wintrust Community Bank
SECTION 4: All ordinances or parts of ordinances in conflict herewith are
hereby repealed.
SECTION 5: If any provision of Ordinance 67-0-18 or application thereof
to any person or circumstance is held unconstitutional or otherwise invalid, such
invalidity shall not affect other provisions or applications of this Ordinance that can be
given effect without the invalid application or provision, and each invalid application of
this Ordinance is severable.
SECTION 6: Ordinance 67-0-18 shall be in full force and effect from and
after its passage, approval, and publication in the manner provided by law.
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67-0-18
Introduced: �UYne )L5 , 2018 Approved:
Adopted: Un5 , 2018 12018
Stephen . Hage y, a
Attest: Approved as to form:
%A& O• AO-M
Devon Rei3,-Zity Clerk' Michelle L. Masoncup, Interim Corporation
Counsel
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