AGENDA TITLE:
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Adopt a Resolution Updating City Staff Signers on City of Lodi Farmers & Merchants Bank Accounts (ISD - BUD)
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MEETING DATE:
June 4, 2025
PREPARED BY:
Jennelle Baker, Budget Manager
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RECOMMENDED ACTION:
Adopt a Resolution Updating City Staff Signers on City of Lodi Farmers & Merchants Bank Accounts.
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BACKGROUND INFORMATION:
Authorized signers on the City's bank accounts held at Farmers & Merchants Bank ("F&M") have been previously designated as the City Manager, the Assistant City Manager and the Budget Manager. While the City Manager is on leave and the permanent positions are vacant, the City needs to update the list of those who can approve banking transactions and sign for the City to maintain compliance with banking signature authority.
On May 7, 2025, the City Council appointed James Lindsay as the Acting City Manager and approved his corresponding employment agreement. Sections 1.2(b-d) of Mr. Lindsay's employment agreement specifically provide that he shall:
"(b) Conduct the efficient administration of all the affairs of the City, which are under their control. In addition to the ACM's general powers as administrative head, and not as a limitation thereon, it is their duty and they shall have power to complete the tasks and responsibilities outlined in Lodi Municipal Code Section 2.12.060;
(c) Perform all legally permissible and proper duties as the City Council may assign and as may be modified from time to time;
(d) Comply with all applicable federal, state, and City laws and regulations;"
To accomplish his designated tasks and carry out the affairs of the City, Mr. Lindsay needs to be added to the list of authorized signers with F&M. F&M requires City Council approval of the Corporate Authorization Resolution as shown in Attachment 1, to update the City's bank records ("Resolution"). The Resolution states in part that "the signature of an Agent on this resolution is conclusive evidence of the...
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