Common use of Checks, Drafts, Notes Clause in Contracts

Checks, Drafts, Notes. Etc. All checks, drafts or other orders for the payment of money, notes or other evidences of indebtedness issued in the name of the Land Bank shall be signed by such officer or officers, agent or agents, of the Land Bank and in such other manner as may from time to time be determined by resolution of the Board of Trustees. In the absence of such determination by the Board of Trustees, such instruments shall be signed by the Region 1 Planning Council Executive Director and countersigned by the Treasurer of the Land Bank. The Board of Trustees shall require all individuals who handle funds of the Land Bank to qualify for a security bond to be obtained by the Land Bank, at the expense of the Land Bank, in an amount not less than $100,000.00.

Checks, Drafts, Notes. Etc. All checks, drafts or other orders for the payment of money, notes or other evidences of indebtedness issued in the name of the Land Bank shall be signed by such officer or officers, agent or agents, of the Land Bank and in such other manner as may from time to time be determined by resolution of the Board of TrusteesDirectors. In the absence of such determination by the Board of TrusteesDirectors, such instruments shall be signed by the Region 1 Planning Council Executive Director Secretary/Treasurer and countersigned by the Treasurer Chairperson or the Vice-Chairperson of the Land Bank. The Board of Trustees Directors shall require all individuals who handle funds of the Land Bank to qualify for a security bond to be obtained by the Land Bank, at the expense of the Land Bank, in an amount not less than $100,000.00.