Number
R13765
Version
Original
Reference
Sponsor
The Chair
Title
Resolution designating and authorizing the following staff to sign documents including as signatories to bank accounts on behalf of the Housing Authority of the City of Milwaukee (HACM) related to various LLCs where HACM holds ownership interest
Analysis
Body
WHEREAS, the Housing Authority of the City of Milwaukee (“HACM”) is the sole member and manager (“Manager”) of any Wisconsin limited liability companies listed in the first column of the attached Exhibit B; and,
WHEREAS, the Manager identified in first column of the attached Exhibit B is the general partner/managing member of the respective Wisconsin limited liability company (“Company”) listed in the second column of the attached Exhibit B in partnership with different limited partners (“Investors”); and,
WHEREAS, “HACM”, “Manager”, “Company” and “Investors” have entered into Operating Partnership Agreements and related Project Documents (“Documents”) in connection with the ownership and operation of Low-Income Housing Tax Credit developments identified in the attached Exhibit B; and,
WHEREAS, management has also recommended that additional signatories are needed to the various bank and financial institutions’ savings, current/checking, certificates of deposits, loan documents and any financial accounts or instruments maintained in such banks or financial institutions; and,
WHEREAS, some members of management who are current signatories needs to be updated and/or deleted as authorized signatories; and,
WHEREAS, the Board of Commissioners of the Housing Authority of the City of Milwaukee (HACM) are authorized and empowered to designate and certify the names and titles of approved signatories to the “Documents” and various bank and financial institutions’ accounts, documents or instruments; and,
WHEREAS, the following are titles, names and genuine signatures of duly qualified and approved signees of HACM authorized by this ...
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