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