RESOLUTION 15-012 GENERAL DEPOSITORY AGREEMENT_FIRSTBANK.DOC

RESOLUTION 15-012
GENERAL DEPOSITORY AGREEMENT (FIRSTBANK)
WHEREAS, the Department of Housing and Urban Development (HUD) has entered into
contracts with the Housing Authority of Maricopa County (HAMC) for the purpose of providing
financial assistance to develop and operate lower income housing projects, as authorized by the
United States Housing Act of 1937, as amended (42 USC 1437, et seq.); and
WHEREAS, under the terms of the contracts, HAMC is required to select as depositories of its
funds financial institutions whose deposits or accounts are insured by either the Federal Deposit
Insurance Corporation or the National Credit Union Share Insurance Fund as long as the
Agreement is in place; and
WHEREAS, all HAMC program funds must be promptly deposited with a financial institution
selected as Depository by the Housing Authority in accordance with HUD requirements and as
outlined in the General Depository Agreement; and
WHEREAS, the Depository is FIRSTBANK located at 2525 East Camelback Road, Suite 115,
Phoenix, Arizona 85016.
NOW THEREFORE:
BE IT RESOLVED, that the Board of Commissioners of the Housing Authority of Maricopa County
hereby adopts Resolution No. 15-012 and approves the General Depository Agreement with
FirstBank.
Dated this _____________________ day of _____________________________________, 2015.
Housing Authority of Maricopa County
ATTEST:
Chairman, Board of Commissioners
Gloria Munoz, Clerk of the Board
Approved As To Form
Attorney for Housing Authority