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CONSENT CALENDAR
City of San Bernardino
Request for Council Action
Date: October 15, 2025
To: Honorable Mayor and City Council Members
From: Jeannie Fortune, Interim Director of Finance and Management Services
Department: Finance & Management Services
Subject: Resolutions updating the Bank and Investment
Account Signature Authority: Citizens Business Bank,
Local Agency Investment Fund (LAIF), and
Computershare Trust Company (All Wards)
Recommendation:
It is recommended that the Mayor and City Council of the City of San Bernardino, California, and the Mayor and City Council of the City of San Bernardino, California acting in its capacity as the Successor Agency to the former Redevelopment Agency of the City of San Bernardino adopt the attached Resolutions updating the City’s and Successor Agency’s bank and investment account signature authority.
City Manager’s Comments
No Comments
Executive Summary
After the previous organizational changes in the City’s personnel and organizational structure, the City updated the on-file signature authorizations with all its various financial institutions in July of 2025. Some of the City’s financial institutions are further requiring a specific format showing the authorized signature authorizations.
Specifically, the City will be updating the signature authorizations for Citizens Business Bank, the Local Agency Investment Fund (LAIF), and Computershare Trust Company Background
The City and Successor Agency must update bank and investment account signature authorizations on file with the various financial institutions that hold City and Successor Agency funds as personnel and organizational changes occur.
Discussion
Most banking institutions require approval from the organizations’ governing body 2 7
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through the adoption of a resolution and/or minutes from the meeting showing adoption and approval.
The City and Successor Agency have cash, investments, and other funds required to be held by fiscal agents in the following institutions:
1. Wells Fargo Bank, City;
2. Wells Fargo Bank, Successor Agency;
3. U.S. Bank, City;
4. U.S. Bank, Successor Agency;
5. BNY (Bank of New York) Mellon, City;
6. BNY (Bank of New York) Mellon, Successor Agency;
7. Citizens Business Bank, Successor Agency; and
8. Local Agency Investment Fund (LAIF), City - this program offers local agencies to participate in a major portfolio through the State Treasurer’s Office.
9. Authorized Brokers/Dealers for the City and Successor Agency;
10. Computershare Trust Company, City.
Resolutions approved in July 2025 were prepared for the various banking and investment accounts to implement the changes in signature authority.
Three (3) of the banking institutions mentioned above, Citizens Business Bank, LAIF, and Computer Share Trust Company, require authorized signatures on the resolutions themselves.
Attached for City Council’s review and approval are revised resolutions for these banking institutions that include the signatures of the authorized personnel.
2021-2025 Strategic Targets and Goals
Approval of the aforementioned resolutions align with Key Target No. 1: Improved Financial & Operational Capacity by ensuring that the financial and administrative requirements to continue day-to-day operations in the Finance department are completed and kept up to date.
Fiscal Impact
There is no fiscal impact associated with adopting the attached Resolutions.
Conclusion
It is recommended that the Mayor and City Council of the City of San Bernardino, California, and the Mayor and City Council of the City of San Bernardino, California acting in its capacity as the Successor Agency to the former Redevelopment Agency of the City of San Bernardino adopt the attached Resolutions updating the City’s and Successor Agency’s bank and investment account signature authority.
Attachments
Attachment 1 – Resolution No. 2025- 374 Citizens Business Bank, Successor 2 7
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Agency
Attachment 2 – Resolution No. 2025-375 Local Agency Investment Fund (LAIF), City Attachment 3 – Resolution No. 2025-376 Computershare Trust Company, City Ward:
All Wards
Synopsis of Previous Council Actions:
07-02-2025 City Council approved Bank signatories of existing personnel at the time.
02-19-2025 City Council approved Bank signatories of existing personnel at the time.
01-15-2025 City Council approved Bank signatories for Computershare Debt Trustee Services.
06-05-2024 City Council approved Bank signatories of existing personnel at the time.
05-01-2024 City Council approved Bank signatories of existing personnel at the time.
11-01-2023 City Council approved Bank signatories of existing personnel at the time.
CC: Eric Levitt, City Manager