RESOLUTION NUMBER: 332R-22

TITLE: RESOLUTION DESIGNATING OFFICIAL DEPOSITORIES AND AUTHORIZED MUNICIPAL OFFICIALS TO SIGN CHECKS FOR DISBURSEMENT OF FUNDS FOR CALENDAR YEAR 2022, AND TO CHANGE THE ACCOUNT NAMED AMERICAN RESCUE PLAN ACT FUND AS THOSE FUNDS WERE MOVED, AND REPURPOSE THAT ACCOUNT TO BE NAMED LEGAL SETTLEMENTS

WHEREAS, under the provisions of state regulations (N.J.S.A. 40A:5-1) entitled Local Fiscal Affairs Law, the Township of Jackson in accordance with N.J.S.A.40A:5-14 hereby establishes Legal Depositories for public monies for the calendar year 2022. Further, recent amendment to N.J.S.A. 40A:5-15.1 entitled “Securities, which may be purchased by local units” provide added flexibility to secure high yield investments while safe guarding municipal assets.

NOW, THEREFORE, BE IT RESOLVED by the Mayor and Township Council of the Township of Jackson, County of Ocean, State of New Jersey, as follows:

1. The following banks or institutions approved by the Department of Banking and Insurance under the Government Unit Depository Protection Act (GUDPA) or other authorized investment vehicles authorized by the State of New Jersey are hereby designated as official depositories of Township funds for the calendar year 2022:
2. A.New Jersey Cash Management
3. B.Ocean First Bank
2. Authorized signatories herewith described below are established by appointing Resolution and/or Salary Ordinance as approved by the Governing Body. Effective authority for authorized signatories will be established on or about January 5, 2022, nun pro tunc. Wire or electronic transfer of municipal funds for the purpose to meet payment obligations (Eg. investments, payroll, debt service, vendor, state & federal taxes) are hereby granted to the Chief Financial Officer or assistant subject to ratification by the Governing Body.
3. Disbursements from all checking accounts except as otherwise noted herein shall be signed by any two (2) of the following four (4) authorized individuals to include at minimum each check to bear one original signature. The Mayor and President of the Council may designate a facsimile signature as subject to approval:

Mayor, Michael Reina President of the Council, Andrew Kern Municipal Administrator, Terence M. Wall Chief Financial Officer, Sharon Pinkava

Authorized Checking Accounts:

4. All disbursements from the Jackson Township “Tax Collector Trust” checking account (Account No. xxxxxxx0088) shall be made by checks signed by any one (1) of the following two (2) individuals: