Ordinance 09-011 Amending SVMC 3.55 Financial/Banking CITY OF SPOKANE VALLEY
SPOKANE COUNTY,WASHINGTON
ORDINANCE NO.09-011
AN ORDINANCE OF THE CITY OF SPOKANE VALLEY, WASHINGTON
AMENDING SPOKANE VALLEY MUNICIPAL CODE SECTION 3.55.010 RELATING
TO PAYMENTS OF CLAIMS OR OBLIGATIONS OF THE CITY, AND OTHER
MATTERS RELATED THERETO.
WHEREAS, the City previously adopted Spokane Valley Municipal Code section 3.55.010
through Ordinances 03-003 and 03-074, relating to payment of claims or obligations of the City,
identifying that checks shall be drawn on Farmer's & Merchant's Bank, and the number of authorized
representatives who may sign checks on behalf of the City; and
WHEREAS, Farmer's& Merchant's Bank was subsequently purchased by Banner Bank; and
WHEREAS, the City desires to modify that language to include financial institutions generally,
including the Local Government Investment Pool, and that the City Council shall specify by separate
resolution which financial institutions the City is authorized to deposit its public funds with, including the
City Council members and staff authorized to sign on behalf of the City.
NOW, THEREFORE, the City Council of the City of Spokane Valley, Washington, ordains as
follows:
Section 1. Purpose. The purpose of this Ordinance is to identify in a general way that
the City is authorized to place its funds with various financial institutions, and that the specific financial
institutions, as well as that City Council members and City officers authorized to sign checks on behalf of
the City, shall be set forth in a separate resolution.
Section 2. Amendment to Spokane Valley Municipal Code Section 3.55.010. Spokane
Valley Municipal Code Section 3.55.010 is hereby amended as follows:
3.55.010 Payment of claims or obligations of the City.
Pursuant to RCW 35A.40.020, payment of claims or obligations of the City shall be by check.
The qualified public depository, whereon such checks are to be drawn, or other financial
institution, shall be established by separate resolution of the City Council. The City Council shall
establish by resolution three designated Council members and those City officers who are
authorized to make payments pn claims or obligations of the City, and make all appropriate
transfers related thereto.
Section 3. Severability. If any section, sentence, clause or phrase of this Ordinance shall
be held to be invalid or unconstitutional by a court of competent jurisdiction, such invalidity or
unconstitutionality shall not affect the validity or constitutionally of any other section, sentence, clause or
phrase of this Ordinance.
Section 4. Effective Date. This Ordinance shall be in full force and effect five (5) days after
publication of this Ordinance or a summary thereof in the official newspaper of the City as provided by
law. •
• •
Ordinance 09-011 Page 1 of 2
PASSED by the City Council this 14th day of April, 2009.'
M yor,Richard . Munson
A y
ity. Clerk, Christine Bainbridge
Approved As To Form:
/,. / ' _ ��/
Of ice of the City Attorney /
Date of Publication: ---Z
Effective Date:
Ordinance 09-011 Page 2 of 2