CC - Item 4F - Authorized Signers on Bank Accounts for Housing Development Corporation 5 F ROSEMEAD HOUSING
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TO: HONORABLE PRESIDENT AND BOARD MEMBERS
FROM: JEFF ALLRED, EXECUTIVE DIRECTOR
DATE: JULY 14, 2015
SUBJECT: AUTHORIZED SIGNERS ON BANK ACCOUNT
SUMMARY
The Rosemead Housing Development Corporation (RHDC) requires a checking
account to efficiently operate its financial matters. Authorized signers on the RHDC's
account include all RHDC Directors, the President, the Vice President, the Executive
Director and the Assistant City Manager. When new people replace incumbents, bank
signature cards must be completed.
Staff Recommendation:
Staff recommends that the RHDC Board approve Resolution No. 2015-08 authorizing
the President, Vice President, Directors, Executive Director and Assistant City Manager
as signers on the RHDC bank account. See Attachment A for named signers.
Staff also recommends with the resignation of our former Secretary, it is necessary to
remove the name of our former Secretary, Gloria Molleda and that the RHDC Board
appoint the City's Interim City Clerk, Carol Cowley as the Corporation Secretary until a
replacement Secretary can be appointed.
PUBLIC NOTICE PROCESS
This item has been noticed through the regular agenda notification process.
Submitted by:
62,a-4—CSeyAk
Carolyn A. Chu
Finance Director
Attachment
ITEM NUMBER. ill/LT _
RESOLUTION NO. 2015-08
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 AND THE ASSISTANT CITY MANAGER AS
SIGNERS ON THE CORPORATION'S BANK 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, bank signature cards need to be updated to reflect only those
persons currently authorized as signers on the account, and
WHEREAS, the Corporation Secretary has terminated employment and needs to
be removed from the account and a replacement Secretary needs to be appointed,
NOW THEREFORE, The Rosemead Housing Development Corporation does
hereby authorize the Interim City Clerk to be the Corporation Secretary until a
replacement can be appointed and does hereby authorize the following Board Members
listed in Attachment A and employees of the Corporation as signers on the above
'account:
PASSED, APPROVED AND ADOPTED this 14th day of July 2015.
Margaret Clark, President
Rosemead Housing Development Corporation
ATTEST:
Carol Cowley
Interim Corporate Secretary
APPROVE AS TO FORM:
Rachel Richman
City Attorney
Attachment A
Signers on the Rosemead Housing Development Corporation Pacific Western account
no. 111032421:
1. Margaret Clark, President
2. Sandra Armenta, Vice President
3. Polly Low, Director
4. William Alarcon, Director
5. Jeffry Allred, Executive Director
6. Matthew E. Hawkesworth, Assistant City Manager
Please remove the following signers from account no. 111032421:
1. Gloria Molleda, former City Clerk
2. Steven Ly, Director (currently on Military Leave)
Signature of Secretary
Printed Name