Res 85-057RESOLUTIONN0. 85-057
A RESOLUTION OF THE CITY ODUNCIL
OF THE CITY OF POWAY, CAnIFORNIA,
SUPPORTING ASSf~ILY BILL 2182 ~
ASSEMBLY BILL 2570
REGARDING THE LA331xI)ERING OF MONEY
WHEREAS, Assembly Bill 2182 and Assembly Bill 2570 have been introduced into
the California StateAssembly; and
WHEREAS, Assembly Bill 2182 and Assembly Bill 2570 would create laws against
money laundering which would curtail the sale and distribution of drugs in the
State of California; and
WHEREAS, AB 2182 would make it a crime to launder money if the launderer
knows or has reason to know that its source is an illegal one such as drug
dealing; and
WHEREAS, AB 2570 would require financial institutions, such as banks,
savings and loan associations, credit unions, etc., to keep ongoing records of
large cash transactions and file reports with the State Department of Justice;
and
WHEREAS, drug dealers launder their money through California's financial
institutions in order to make it seem legitimate and thus escape investigation;
and
WHEREAS, the State of California must do all it can to end the business of
selling drugs illegally; and
WHEREAS, AB 2182 and AB 2570 seek to accomplish this.
NOW, THEREFORE, BE IT RESOLVfD that the City Council of the City of Poway,
Cml ifornia, hereby urges the enactment of AB 2182 and AB 2570.
PASSED, ADO~ AND APPRDVfD, by the City Council of the City of Poway,
California, at a regular n~-cting thereof this 6th day of August, 1985.
Robert C. Emery, Mayo~/-~'~
Marjorie K~ Wahlsten, City Clerk