That, on the recommendation of the Managing Director, Corporate Services and City Treasurer, Chief Financial Officer, the following actions be taken with respect to the agreements associated with the Ontario Works Royal Bank of Canada Right Pay Reloadable Payment Card Program Agreement:
a) the Royal Bank of Canada (“Royal Bank”) is appointed banker for the customer;
b) the Mayor; City Clerk; City Treasurer, Chief Financial Officer; Director, Financial Services; Division Manager, Taxation and Revenue; Manager, Tangible Capital Assets; Manager, Financial Planning and Policy; Director, Financial Planning & Business Support; Financial Business Administrator, Senior Financial Business Administrator, Manager I, Accounting and Reporting; and Manager 1-Financial Operations are authorized, on behalf of the Customer, from time to time to:
i) to withdraw or order transfers of funds from the Customer’s accounts by any means including the making, drawing, accepting, endorsing or signing of cheques, promissory notes, bills of exchange, other orders for the payment of money or other instruments or the giving of other instructions;
ii) to sign any agreements or other documents or instruments with or in favour of Royal Bank, including agreements and contracts relating to products or services provided by Royal Bank to the Customer; and
iii) to do, or to authorize any person or persons to do, any one or more of the following:
A. to receive from Royal Bank any cash or any securities, instruments or other property of the Customer held by Royal Bank, whether for safekeeping or as security, or to give instructions to Royal Bank for the delivery or other transfer of any such cash, securities, instruments, or other property to any person named in those instructions;
B. to deposit with or negotiate or transfer to Royal Bank, for the credit of the Customer, cash or any security, instrument, or other property, and for those purposes to endorse (by rubber stamp or otherwise) the name of the Customer, or any other name under which the Customer carries on business, on any security or instrument;
C. to instruct Royal Bank, by any means, to debit the accounts of third parties for deposit to the credit of the Customer; and
D. to receive statements, instruments and other items (including paid cheques) and documents relating to the Customer’s accounts with or any service or Royal Bank, and to settle and certify the Customer’s accounts with Royal Bank.
c) that all instruments, instructions, agreements (including contracts relating to products or services provided by Royal Bank) and documents made, drawn, accepted, endorsed or signed (under the corporate seal or otherwise) as provided in this Resolution and delivered to Royal Bank by any person, shall be valid and binding on the Customer, and Royal Bank is hereby authorized to act on them and give effect to them;
d) the Royal Bank be furnished with:
i) a copy of this Resolution; and
ii) a list of the names of the persons authorized by this Resolution to act on behalf of the Customer, and with written notice of any changes which may take place in such list from time to time, and with specimens of the signatures of all such persons;
e) the By-law as appended to the staff report dated March 9, 2020, BE INTRODUCED at the Municipal Council meeting of March 24, 2020 to authorize the Mayor and the City Clerk to execute the Resolution Regarding Banking and the Master Client Agreement for Business Client Authorization and any contract or document with the Royal Bank relating to the Ontario Works Royal Bank of Canada Right Pay Reloadable Payment Card Program and to authorize the signing of cheques and the withdrawal or transfer of funds.