Housing - Item 2B - Bank Signature CardsE M E
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ROSEMEAD HOUSING
DEVELOPMENT CORPORATION
STAFF REPORT
T0: HONORABLE PRESIDENT AND BOARD OF DIRECTORS
FROM: ANDREW C. LAZZARETTO, EXECUTIVE DIRECTOR
DATE: DECEMBER 19, 2006
SUBJECT: BANK SIGNATURE CARDS
SUMMARY
The Rosemead Housing Development Commission requires one bank account to
efficiently operate its financial matters. Authorized signers on the Commission's bank
account include the Board of Directors; Corporation Secretary; Executive Director; and
Assistant City Manager. Banks require new signature cards to be completed upon any
changes in the list of authorized signers.
Staff Recommendation
Staff recommends that the Corporation authorize Executive Director, Andrew C.
Lazzaretto and Deputy City Manager Oliver Chi be named as signers on the Rosemead
Housing Development Commission Bank Account, replacing the names of the former
Executive Director and Assistant City Manager.
ANALYSIS
With the retirement of the former Executive Director and Assistant City Manager it is
necessary to remove their names as authorized signers and replace their names with
the new Executive Director and Deputy City Manager.
PUBLIC NOTICE PROCESS
This item has been noticed through the regular agenda notification process.
Sub tted by:
ar ~Hur
Interim Finance Director
APPROVED FOR CITY COUNCIL AGENDA: