Title
Discuss and consider action approving Resolution 2024-004 by the Board of Directors of the Pflugerville Community Development Corporation authorizing signature approval and authority to designated representatives to carry out banking and financial services on behalf of the corporation.
Summary
The PCDC and City of Pflugerville have approved revisions to the PCDC-City Service Agreement, PCDC Bylaws and PCDC Certificate of Formation in previous City Council and PCDC Board Meetings in February and March to allow the City staff to provide full financial services with a target date of on or before June 1. This resolution authorizes both PCDC and City staff to perform all required authorizations for these services.
With the adoption of this Resolution, the signers at all banking institutions will be updated to allow full access and administration as authorized by the PCDC Executive Director or Interim Executive Director. Other authorizations to provide the services will be allowed for City Finance Director or City Finance Director and Assistant Finance Director.
Prior Action
The City Council reviewed the PCDC CITY Services agreement and approved revisions and updates during a City Council Regular Meeting on May 27, 2023. On February 13, 2024, the City Council further reviewed the agreement for proposed revisions and updates, and deferred the agreement to the PCDC Board for further discussion at the February 28, 2024, Regular Meeting. The item was placed on the agenda as a discussion only agenda item, and brought back to the March 20th meeting for final approval by the board.
Deadline for Action
April 17, 2024
Supporting Documents
Resolution 2024-004
Staff Recommendation
Approval
Drafter
Amy Madison, Executive Director