City Council

5.6 PROPOSED DEPOSIT OF PUBLIC FUNDS AGREEMENT WITH THE BANK OF SOUTHERN CALIFORNIA (Turner) RECOMMENDATION: 1) Approve proposed Deposit of Public Funds Agreement with the Bank of Southern California with an Active Balance Agreement Limit of $17,000,000; and 2) Authorize the Mayor and the City Manager, as authorized signers at the bank, to execute proposed Deposit of Public Funds Agreement with the Bank of Southern California; and 3) Authorize the City Manager to deposit $5 million into a one-year certificate of deposit at an Annual Percentage Yield (APY) of 4.60% with the Bank of Southern California. 4/5/24, 3:37 PM cityofrsm.granicus.com/GeneratedAgendaViewer.php?view_id=2&event_id=345 Item No. 5.6