HOU - Item 3C - Authorization Signers on Bank AccountsROSEMEAD HOUSING
DEVELOPMENT CORPORATION
STAFF REPORT
TO: HONORABLE PRESIDENT AND BOARD MEMBERS
FROM: JEFF ALLRED,
DATE: APRIL 26, 2011
EXECUTIVE DIRECTO, 9
SUBJECT: AUTH ORIZED 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 Directors, the President, the Vice President,
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. 2011 -01 authorizing
the President, Vice President, Directors, 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 President and Vice President as well as a newly elected
Director, it is necessary to remove the name of the previous President as an authorized
signer on the RHDC bank account and replace it with the name of the new 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 2011 -01
ITEM N8. ,3
APPROVED FOR HOUSING DEVELOPMENT CORPORATION AGENDA:
RESOLUTION NO. 2011 — 01
A RESOLUTION OF THE ROSEMEAD HOUSING DEVELOPMENT CORPORATION
OF THE CITY OF ROSEMEAD, CALIFORNIA AUTHORIZING THE CORPORATION
DIRECTORS, THE PRESIDENT, THE VICE PRESIDENT, THE EXECUTIVE
DIRECTOR, 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:
Steven Lv
(Name)
Sandra Armenta
(Name)
President
(Title)
(Signature)
Margaret Clark
(Name)
Director
(Title)
(Signature)
Vice President
(Title)
(Signature)
William Alarcon
(Name)
Director
(Title)
(Signature)
RESOLUTION NO. 2011 — 01 (CONT'D)
Polly Low
(Name)
Jeffry Allred
(Name)
Director
(Title)
(Signature)
Matthew E. Hawkesworth
(Name)
Assistant City Manager
(Title)
(Signature)
Executive Director
(Title)
(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 April 26, 2011.
(President)
ATTEST:
Corporation Secretary
2
Attachment A
Signers on the Rosemead Housing Development Corporation Pacific Western account
no. 111032421:
1. Steven Ly, President
2. Sandra Armenta, Vice President
3. Margaret Clark, Director
4. Polly Low, Director
5. William Alarcon, Director
6. Gloria Molleda, Corporation Secretary
7. Jeffry Allred, Executive Director
8. Matthew E. Hawkesworth, Assistant City Manager
Please remove the following signers from account no. 111032421:
1. Gary Taylor