City Council

5.6 PROPOSED DEPOSIT OF PUBLIC FUNDS AGREEMENT WITH THE BANK OF\nSOUTHERN CALIFORNIA (Turner)\nRECOMMENDATION:\n1) Approve proposed Deposit of Public Funds Agreement with the Bank\nof Southern California with an Active Balance Agreement Limit of\n$17,000,000; and\n2) Authorize the Mayor and the City Manager, as authorized signers at\nthe bank, to execute proposed Deposit of Public Funds Agreement\nwith the Bank of Southern California; and\n3) Authorize the City Manager to deposit $5 million into a one-year\ncertificate of deposit at an Annual Percentage Yield (APY) of 4.60%\nwith the Bank of Southern California.\n4/5/24, 3:37 PM cityofrsm.granicus.com/GeneratedAgendaViewer.php?view_id=2&event_id=345\nItem No. 5.6