HomeMy WebLinkAboutORDINANCES-2009-100-O-094
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10/6/2009
100-0-09
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 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:
a part hereof.
SECTION 1: That the foregoing recitals are found as fact and made
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100-0-09
SECTION 2: The following individuals may be authorized signatories on
various City financial institution accounts:
Wally Bobkiewiczl City Manager
Martin Lyons, Assistant City Manager/Treasurer
Steven Drazner, Assistant Finance Director
Hitesh Desai, Accounting Manager
SECTION 3: Authorized City staff may invest City non -fiduciary funds with
the following financial institutions and/or brokers:
JP Morgan Chase
Charter One Bank
1st Bank of Evanston
PMA Financial Network, Inc.
Harris Bank
5th 3rd Bank
Northern Trust Bank
Illinois Metropolitan Investment Fund
Illinois Funds
SECTION 4: That all ordinances or parts of ordinances in conflict herewith
are hereby repealed.
SECTION 5: That if any provision of this Ordinance 100-0-09 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: That this Ordinance 100-0-09 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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Introduced: `� [_p", 2009
Adopted:°�f' o� , 2009
Approved:
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100-0-09
, 2009
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Eliz eth B. Tisdahl, Mayor
Aft Approved as to form:
�d�iey GreeJ�e, City Clerk Elke B. Tober-Purze, Interim
( First Assistant Corporation Counsel
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