The Commuter Rail Board (“Board”) of the Commuter Rail Division of the Regional Transportation Authority (“Division”) hereby authorizes the following persons to sign, make, draw or endorse on behalf of the Division any and all checks, notes, drafts, bill exchanges or other instruments; to make any payment of money on behalf of the Division; and to withdraw funds on behalf of the Division.
(A) With respect to amounts less than $10,000, the Chief Financial Officer (“CFO”), any Assistant Treasurer and the Director, Treasury (“Director”) are each individually endowed with the above mentioned powers. In addition, execution of instruments for the payment of money or withdrawal of funds may be made by facsimile signature by the CFO or the Director. Only one signature is required with respect to such amounts of less than $10,000.
(B) With respect to amounts equal to or greater than $10,000, two signatures are required and signatures must include: either the CFO or the Director, and either the Executive Director/Chief Executive Officer (“CEO”), the General Counsel or a Deputy Executive Director are hereby endowed with the above mentioned powers. For purposes of this section only, the CEO and the CFO may designate, in writing, any other position of the Division to make such transfers and endorse checks.
(Ord. MET 11-31, passed 11-11-2011)