The CFO and the Director each have the individual necessary authority to invest and execute documents (instructions, wires, transfers and other instruments) for the transfer of funds to any bank or financial institution (“bank”) holding Corporation deposits. In addition, the CFO and the Director each have the individual authority to enter into agreements with any bank on behalf of the Corporation to open and close accounts with respect to such deposits, investments and transfers, including agreements protecting any bank against the consequences of relying on instructions given pursuant to this subchapter, provided that such bank provides confirmation of such transfer to the CFO or Director of the Corporation; and, provided further, that all transactions set forth in this section comply with statutory limitations regarding investment restrictions, the Corporation’s applicable procurement regulations and the Corporation’s investment policy.
(Ord. NIRC 11-05, passed 11-11-2011)