4
vy
Rea iesze
ity ane
LN %
t

6.6 Upon receipt of the aforesaid statement of account, the Corporation will check the debit and credit
entries, examine the cheques and vouchers and notify the Bank in writing of any errors, irregularities or
omission. This notice will be provided to the Bank within 30 days of the mailing to the Corporation or if
not mailed, within 30 days of the delivery to the Corporation. At the expiration of the 30 day period
(except as to any alleged errors, irregularities or omissions outlined on the said notice) it shall be
conclusively settled between the Bank and the Corporation, subject to the right of the Bank either during
or after the 30 day period to charge back items for which payment has not been received, the statement
and the balance shown thereon are correct, the said cheques and vouchers are properly charged to the
Corporation's account and the Corporation is not entitled to be credited with any sum not credited in the
statement. It shall be conclusively settled as between the Bank and the Corporation or any third party of
any fiduciary duty or trust in respect of the sums or dealings noted in the said statements.

6.7 The expression "the account" or " the Corporation's account" used in the above tenms and
conditions shall mean the account of the Corporation upon or against which the Instrument is drawn,
cashed or negotiated, but if there should be insufficient funds in the said account to pay such Instrument
of to pay any charges which the Bank is authorized to charge under the provisions of said terms and
conditions, then the said expression shall mean any other account which the Corporation may have at any
branch or agency of the Bank and the Bank is authorized to charge such account with the amount of such

Instrument or of such charges. °

7. Not withstanding any of the above authorizations all cheques (except those drawn on the Petty
Cash Bank Account) with a value of less than $50,000 need not be personally signed by the persons
above named but may have the signatures of the Mayor and Treasurer reproduced thereon by mechanical

or other means; and

Cheques less than $10,000.00 drawn on the Payroll account or less than $500.00 drawn'on the Petty cash
account may be signed/counter signed by any two of the Councillor(s) or officers listed under Clause 2

above; and

Alterations to the transaction date of any cheque may be initialed by any one of the Mayor, a Councillor
or other officers listed under Clause 2 above;

8. THAT this Resolution shall be irrevocable until a Resolution repealing this Resolution shall have
been passed and a certified copy delivered to the Bank at each Branch or Agency where an account of the

Corporation shall be kept. .

Bill Wiseman
Deputy Treasurer - Finance