Common use of RESPONSIBILITIES FOR FUNDS AND PROPERTY Clause in Contracts

RESPONSIBILITIES FOR FUNDS AND PROPERTY. The Treasurer of the Board shall have the custody of and disburse the Authority’s funds. He or she may delegate disbursing authority to such persons as may be authorized by the Board of Directors to perform that function consistent with Government Code Section 6505.6, subject to the requirements of (b) below. Pursuant to Government Code Section 6505.5, the Treasurer of the Board shall: (a) Receive and acknowledge receipt for all funds of the Authority and place them in the treasury so designated by the Treasurer of the Board to the credit of the Authority. (b) Be responsible upon his or her official bond for the safekeeping and disbursements of all Authority funds so held by him or her. (c) Be responsible for oversight of payment, when due, out of money of the Authority so held, all sums payable by the Authority. The Board of Directors may delegate authority to anybody or person to make such payments from Authority funds. (d) Verify and report in writing to the Authority and to Members, as of the first day of each quarter of the Fiscal Year, the amount of money then held for the Authority, the amount of receipts since the last report, and the amount paid out since the last report. Pursuant to Government Code Section 6505.1, the Authority shall designate the public office or officers or person(s) who shall have charge of, handle, and have access to the property of the Authority and shall require such officer(s) or person(s) to file an official bond in amount fixed by the contracting parties.

RESPONSIBILITIES FOR FUNDS AND PROPERTY. (a) The Treasurer of the Board shall have the custody of and disburse the Authority’s 's funds. He or she may delegate disbursing authority to such persons as may be authorized by the Board of Directors to perform that function consistent with Government Code Section 6505.6function, subject to the requirements of (b) below. . (b) Pursuant to Government Code Section 6505.5, the Treasurer of the Board shall: (a1) Receive and acknowledge receipt for all funds of the Authority and place them in the treasury so designated by of the Treasurer of the Board to the credit of the Authority. (b2) Be responsible upon his or her official bond for the safekeeping and disbursements of all Authority funds so held by him or her. (c3) Be responsible Pay any sums due from the Authority, as approved for oversight of payment, when due, out of money of the Authority so held, all sums payable payment by the Authority. The Board of Directors may delegate authority to anybody or by any body or person to make whom the Board has delegated approval authority, making such payments from Authority fundsfunds upon warrants drawn by the Auditor. (d4) Verify and report in writing to the Authority and to Membersmembers, as of the first day of each quarter of the Fiscal Yearfiscal year, the amount of money then held for the Authority, the amount of receipts since the last report, and the amount paid out since the last report. . (c) Pursuant to Government Code Section 6505.1, the Authority shall Chief Executive Officer, the Treasurer, and such other persons as the Board of Directors may designate the public office or officers or person(s) who shall have charge of, handle, and have access to the property of the Authority. (d) The Authority shall secure and shall require such officer(s) pay for a fidelity bond or person(s) to file bonds, in an official bond amount or amounts and in amount fixed the form specified by the contracting partiesBoard of Directors, covering all officers and staff of the Authority, and all officers and staff who are authorized to have charge of, handle, and have access to property of the Authority.

RESPONSIBILITIES FOR FUNDS AND PROPERTY. (a) The Treasurer of the Board shall have the custody of and disburse the PRISMthe Authority’s 's funds. He or she may delegate disbursing authority to such persons as may be authorized by the Board of Directors to perform that function consistent with Government Code Section 6505.6function, subject to the requirements of (b) below. . (b) Pursuant to Government Code Section 6505.56505.65, the Treasurer of the Board shall: (a1) Receive and acknowledge receipt for all funds of the PRISMthe Authority and place them in the treasury so designated by of the Treasurer of the Board to the credit of the PRISMthe Authority. (b2) Be responsible upon his or her official bond for the safekeeping and disbursements of all Authority PRISMAuthority funds so held by him or her. (c3) Be responsible Pay any sums due from PRISMthe Authority, as approved for oversight of payment, when due, out of money of the Authority so held, all sums payable payment by the Authority. The Board of Directors may delegate authority to anybody or by any body or person to make whom the Board of Directors has delegated approval authority, making such payments from Authority fundsPRISMAuthority funds upon warrants drawn by the Auditor. (d4) Verify and report in writing to the Authority and to Membersmembers, as of the first day of each quarter of the Fiscal Yearfiscal year, the amount of money then held for the Authority, the amount of receipts since the last report, and the amount paid out since the last report. . (c) Pursuant to Government Code Section 6505.1, the Authority shall Chief Executive Officer, the Treasurer, and such other persons as the Board of Directors may designate the public office or officers or person(s) who shall have charge of, handle, and have access to the property of PRISMthe Authority. (d) PRISMThe Authority shall secure and pay for a fidelity bond or bonds, in an amount or amounts and in the Authority and shall require such officer(s) or person(s) to file an official bond in amount fixed form specified by the contracting partiesBoard of Directors, covering all officers and staff of PRISMthe Authority, and all officers and staff who are authorized to have charge of, handle, and have access to property of PRISMthe Authority.