Resolution 02-001(I) Selecting Interim Bank for Banking Services RESOLUTION NO. 02-1(I)
CITY OF SPOKANE VALLEY
SPOKANE COUNTY,WASHINGTON
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SPOKANE VALLEY
SELECTING FARMERS & MERCHANTS BANK TO PROVIDE LIMITED INTERIM
BANKING SERVICES.
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WHEREAS, the voters of Spokane County on May 21, 2002 voted in favor of
Proposition 1 which provided for the incorporation of the City of Spokane Valley;
WHEREAS, the newly elected Council Members in order plan and prepare for the
incorporation of the new City of Spokane Valley must hire staff, obtain equipment and arrange
for financing during the interim period including selecting a interim bank to provide limited
financial services related to the formation of the new City;
WHEREAS, the City of Liberty Lake has offered a $50,000.00 loan at little or no interest
to be used during the interim period; and
WHEREAS, the City Council believes that Farmers &. Merchants Bank is best suited to
provide interim services until the City issues a request for proposals for complete and
comprehensive financial/banking services.
NOW, THEREFORE, be it resolved by the City Council of the City of Spokane Valley,
Washington as follows:
The City Council selects Farmers & Merchants Bank as the financial institution to
provide interim banking services to the City including the establishment of a checking account
and related limited financial services. Staff is directed to contact the bank and obtain a contract
for interim services to be considered by the City Council. The City Council desires to authorize
the following individuals to sign checks on behalf of the City of Spokane Valley: (1) Mike
Flanigan, City Council Member; (2) Dick Denenny, City Council Member; and (3) Lee Walton,
Interim City Manager.
Approved this day of Naff Leh 2002.
CiTY OF SPOKANE VALLEY
COUNCIL MEMBERS
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By ci, V . L 6-6-, By: /�
Diana Wilhite Richar unison
Council Position No. 1 Council Position No. 5
By: (J{�r tL By: /� ? , L
Steve Taylor Mike Plan' an ! v
Council Position No. 2 Council Position No. 6
By: ,`U ` B
Mike De eming Dick Denenny
Council Positi o. 3 Council Position No. 7
By: 4/7
Gary Schimmels
Council Position No. 4
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