Coalinga Municipal Code Art. 1 Depositories and Signatories

All moneys belonging to, or collected or received for the use of the City by any officer or employee shall immediately be deposited with the City Finance Director. The Finance Director shall deposit such moneys in an account with a designated depository, as established by the City's Investment Policy, which for general operations and day-to-day depository functions must have an office/branch located within the City boundaries. All state or national banks, savings associations, federal associations, and/or credit unions with an office/branch located within the City boundaries and which are federally insured are eligible for use as a designated depository for purpose of deposit of City funds, unless such institution has been specifically excluded/prohibited by action of the City's Investment Committee or the City Council. The Finance Director is hereby authorized to negotiate, enter into, and/or change any contract, agreement, or instructions necessary to establish and maintain bank accounts and services which in his/her judgment are to the public advantage, subject to approval of the Investment Committee and if necessary by the City Council. Checks issued by the City shall bear the signatures of two (2) of the following: The Mayor, Mayor Pro Tempore, City Treasurer, City Manager, Finance Director, and/or other City Staff member(s) as designated by the Finance Director and approved by the City Manager.

(§ 1, Ord. 326, as amended by § 1, Ord. 639, eff. May 1, 1999)