CC - Item 5I - Authorized Signers on Bank Account E M ROSEMEAD HOUSING
DEVELOPMENT CORPORATION
�a,oE STAFF REPORT
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TO: HONORABLE PRESIDENT AND BOARD MEMBERS
FROM: GLORIA MOLLEDA, EXECUTIVE DIRECTOR Nl
DATE: FEBRUARY 13, 2018
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. 2018-03, authorizing the
President, Vice President, Directors, Executive Director and Assistant City Manager as signers
on the RHDC bank account. See Attachment B for named signers.
Staff also recommends with the resignation of our City Manager, it is necessary to remove the
name of our former City Manager, Bill R. Manis.
PUBLIC NOTICE PROCESS
This item has been noticed through the regular agenda notification process.
Submitted by:
Pearl Lieu, Director of Finance
Attachment A: Resolution No. 2018-03 RHDC
Attachment B: Authorized Signers
ITEM NUMBER: 5 I
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Attachment A
Resolution No. 2018-03 RHDC
RESOLUTION NO. 2018-03 RHDC
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
accounts 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
NOW THEREFORE, the Rosemead Housing Development Corporation does hereby
authorize the following Board members listed in Attachment B and employees of the Corporation as
signers on the above account.
PASSED, APPROVED,AND ADOPTED this 13th day of February, 2018.
Polly Low, Corporation President
APPROVED AS TO FORM: ATTEST:
Rachel Richman, Corporation Attorney Marc Donohue, Corporation Secretary
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) §
CITY OF ROSEMEAD
I, Marc Donohue, Corporation Secretary to the Rosemead Housing Development Corporation of
the City of Rosemead.California,do hereby certify that the foregoing Corporation Resolution,No.
2018-03 RHDC, was duly adopted by the Board of the Rosemead Housing Development
Corporation,at a regular meeting thereof held on the 13th day of February, 2018.by the following
vote,to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
Marc Donohue, Corporation Secretary
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Attachment B
Authorized Singers
Attachment B
Signers on the Rosemead Housing Development Corporation Pacific Western account no.
111032421:
1. Polly Low, President
2. Steven Ly, Vice President
3. William Alarcon, Director
4. Sandra Armenta, Director
5. Margaret Clark, Director
6. Gloria Molleda, Executive Director
7. Brad McKinney, Assistant City Manager
Please remove the following signer from account no. 111032421:
1. Bill R. Manis, former City Manager