Resolution No. 5600RESOLUTION NO. 5600
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CYPRESS
AUTHORIZING THE CREATION OF A CHECKING ACCOUNT WITH BANK OF
AMERICA FOR THE HANDLING OF WORKERS COMPENSATION CLAIMS.
WHEREAS, The City of Cypress entered into a contract through the California
Insurance Pool Authority (CIPA) with Colen and Lee to perform all functions incident to
the administration and disbursement of workers compensation claims; and
WHEREAS, the City Council of the City of Cypress deems it desirable and
necessary to establish a new and separate checking account with Bank of America for
the administration of such workers compensation claims;
NOW, THEREFORE THE CITY COUNCIL OF THE CITY OF CYPRESS HERBY
RESOLVES AS FOLLOWS:
That a new checking account be established with Bank of America for the
administration of workers compensation claims and that the Director of Finance and
Administrative Services and the Finance Manager be designated as account
administrators and authorized signers. The title of account administrator gives both the
Director of Finance and Administrative Services and the Finance Manager the ability to
add and delete authorized signers to the account as is deemed necessary in their
individual judgement. Additionally, the Council hereby authorizes Mr. Bernard Colen and
Mr. Gary Lee (representing the firm of Colen and Lee in a trustee capacity on behalf of
the City) as authorized signers on the account.
PASSED AND ADOPTED by the City Council of the City of Cypress at a regular
meeting held on the 12th day of August, 2002.
ATTEST:
Y CLERK OF T i]CITY OF CYPRESS
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
MAYOR OI\THE CITY OF CYPRESS
I, JILL R. INGRAM - GUERTIN, City Clerk of the City of Cypress, DO HEREBY
CERTIFY that the foregoing Resolution was duly adopted by said City Council at a
regular meeting held on the 12th day of August, 2002, by the following roll call vote:
AYES: 5 COUNCIL MEMBERS: Keenan, McGill, Piercy, McCoy and Sondhi
NOES: 0 COUNCIL MEMBERS: None
ABSENT: 0 COUNCIL MEMBERS: None
TY CLERK OF T
CITY OF CYPRESS
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