MEMO

TO: B. Kirk, . ‘DATE: March 6,
City Administrator.

84.

c.c.: J. Fraser,
FROM: Administration Committee. Deputy Treasurer.

SUBJECT: City's Banking.

RECOMMENDATION:
That Council consider the following banking resolution:

That the Treasurer of The Corporation of the City of Port Coquitlam (herein-
after called the "Corporation"), be and is hereby authorized for and on behalf
of the Corporation to negotiate with, deposit, or transfer to THE CANADIAN
IMPERIAL BANK OF COMMERCE (but for credit of the Corporations's account only)
all or any cheques and other orders for the payment of money, and for the said
Purpose to endorse the name or any of them on behalf of the Corporation either
in writing or by rubber stamp;

That all cheques of the Corporation be drawn in the name of the Corporation and
be signed on its behalf by the Mayor (or an Alderman) and signed/countersigned
by one of the following persons: the Treasurer, Deputy Treasurer, Administrator,
or the Engineer;

Provided that cheques drawn on the Payroll Account or the Petty Cash Bank Account

need only be signed by two of the following persons: the Mayor, an Alderman, the
Treasurer, Deputy Treasurer, Administrator, Clerk or the Engineer;

Provided that all cheques (except those drawn on the Petty Cash Bank Account) with

a value of less than $10,000 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.

That the Treasurer, (or persons appointed by the Treasurer) be and is hereby
authorized for and on behalf of the Corporation from time to time to receive from
the said Bank a statement of the account of the Corporation together with all
relative vouchers and all unpaid bills lodged for collection by the Corporation
and all items returned unpaid and charged to the account of the Corporation, and
to sign and deliver to the said Bank the Bank's Form of Verification, Settlement

.Of£ Balance and Release;

That the Mayor (or an Alderman) and the Treasurer, (or the Deputy Treasurer for
the time being as notified to the Bank from tima to time) be and are hereby
authorized for and on behalf of the Corporation to obtain delivery from the said
Bank of all or any stocks, bonds, and other securities held by the said Bank in
safekeeping or otherwise for the account of the Corporation and to give valid and
binding receipts therefore;

AND THAT this resolution be communicated to the said Bank and remain in force
and until written notice to the contrary shall have been given to the Manager for
the time being of the branch of the said Bank at which the account of the Cor-
poration is kept, and receipt of this notice duly acknowledged in writing.

cont. page /2...

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THE CORPORATION OF THE CITY OF PORT COQUITLAM C 0 Y C | [ |
AR 14 {984 :