Housing - Item 2C - Authorized Signers on Bank AccountsROSEMEAD HOUSING
DEVELOPMENT CORPORATION
STAFF REPORT
TO: HONORABLE PRESIDENT AND BOARD MEMBERS
FROM: JEFF ALLRED, EXECUTIVE DIRECTOR
DATE: AUGUST 25, 2009
SUBJECT: AUTHORIZED SIGNERS ON BANK ACCOUNTS
SUMMARY
The Rosemead Housing Development Corporation (RHDC) requires several different
bank accounts to efficiently operate its financial matters. Authorized signers on the
RHDC's bank accounts include all RHDC Board Members, the Executive Director, the
Assistant City Manager and the Corporation Secretary. When new people replace
incumbents, bank signature cards must be completed.
STAFF RECOMMENDATION
Staff recommends that the RHDC Board approve Resolution No. 2009-02 authorizing
the President, Vice President, Board Members, Executive Director, Assistant City
Manager and Corporation Secretary as signers on the RHDC bank account. See
Attachment A for named signers.
ANALYSIS
With a newly appointed Executive Director it is necessary to remove the names of the
Interim Executive Director and Assistnat City Manager as authorized signers on the
RHDC bank account and replace them with the name of the new Executive Director.
PUBLIC NOTICE PROCESS
This item has been noticed through the regular agenda notification process.
Submitted by
Steven Brisco
Finance Director
Attachment: Exhibit A
Resolution 2009-02
ITEM NO. 2C
APPROVED FOR HOUSING DEVELOPMENT CORPORATION AGENDA:
Attachment A
Signers on the Rosemead Housing Development Corporation Pacific Western account
no. 111032421:
1. Margaret Clark, President
2. Gary A. Taylor, Vice President
3. Polly Low, Board Member
4. Steven Ly, Board Member
5. Sandra Armenta, Board Member
6. Gloria Molleda, Secretary
7. Jeffry B. Allred, Executive Director
8. Matthew E. Hawkesworth, Assistant City Manager
RESOLUTION NO. 2009 - 02
A RESOLUTION OF THE ROSEMEAD HOUSING DEVELOPMENT CORPORATION
OF THE CITY OF ROSEMEAD, CALIFORNIA AUTHORIZING THE CORPORATION
BOARD MEMBERS, THE EXECUTIVE DIRECTOR, THE ASSISTANT CITY
MANAGER AND THE CORPORATION SECRETARY AS SIGNERS ON THE
CORPORATION'S ACCOUNT NO. 111032421 AT PACIFIC WESTERN BANK
WHEREAS, The Rosemead Housing Development Corporation established a
checking account at Pacific Western Bank, and
WHEREAS, the Pacific Western Bank account number is 111032421, and
WHEREAS, from time to time as board members are elected or lose elections and
staff is hired or terminate their employment with the Corporation, bank signature cards
need to be updated to reflect only those persons currently authorized as signers on the
account.
NOW THEREFORE, BE IT RESOLVED, That the Rosemead Housing
Development Corporation does hereby authorize the following Board Members and
employees of the Corporation as signers on the above named account:
Margaret Clark
(Name)
Gary Taylor
(Name)
President
(Title)
(Signature)
Sandra Armenta
(Name)
Board Member
(Title)
(Signature)
Vice President
(Title)
(Signature)
Polly Low
(Name)
Board Member
(Title)
(Signature)
RESOLUTION NO. 2009 - 02 (CONT'D)
Steven Ly
(Name)
Jeffrey Allred
(Name)
Board Member
(Title)
(Signature)
Executive Director
(Title)
Matthew E. Hawkesworth
(Name)
Assistant City Manager
(Title)
(Signature)
(Signature)
Gloria Molleda
(Name)
Corporation Secretary
(Title)
(Signature)
PASSED, AND ADOPTED, by the Rosemead Housing Development Corporation of the
City of Rosemead, County of Los Angeles of the State of California on August 25, 2009.
(President)
ATTEST:
Corporation Secretary