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HomeMy WebLinkAboutCC RESO 2014-19RESOLUTION NO. 2014 — 19 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NATIONAL CITY AUTHORIZING THE REINVESTMENT OF $2 MILLION IN A CERTIFICATE OF DEPOSIT ACCOUNT REGISTRY SERVICE ACCOUNT WITH NEIGHBORHOOD NATIONAL BANK FOR A ONE-YEAR TERM WHEREAS, in September, 2007, the City of National City deposited $2 Million in a Certificate of Deposit Account Registry Service ("CDARS") account with Neighborhood National Bank; and WHEREAS, this investment has matured and must be reinvested prior to the maturity date. NOW, THEREFORE, BE IT RESOLVED that the City Council hereby authorizes the reinvestment of $2 Million in a Certificate of Deposit Account Registry Service ("CDARS") account with Neighborhood National Bank. PASSED and ADOPTED this 18th day of February, 14. ATTEST: Micha I R. Dalla, City Jerk ROV S TO FORM: dia % aci a Silva City Atto Passed and adopted by the Council of the City of National City, California, on February 18, 2014 by the following vote, to -wit: Ayes: Councilmembers Cano, Morrison, Natividad, Rios, Sotelo-Solis. Nays: None. Absent: None. Abstain: None. AUTHENTICATED BY: RON MORRISON Mayor of the City of National City, California Af City CI rk of the Ci y of ational City, California By: Deputy I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of RESOLUTION NO. 2014-19 of the City of National City, California, passed and adopted by the Council of said City on February 18, 2014. City Clerk of the City of National City, California By: Deputy