The
board of directors of the Lakeshore Company approved the following resolution
at the April 4th meeting.
Resolved:
In as much as the bylaws of the
company require dual signatures on checks exceeding $1000, and in as much as
the company routinely does business in excess of $1000 w/ the following
vendors, and in as much as the company routinely makes payments and transfers
electronically, therefore it is resolved that inter-company transfers between
Mount Kemble Lake Association and The Lakeshore
Company as well as payments to the following vendors throughout the calendar
year 2011 have the defacto approval of the
Board of Directors:
Allied
Biological
CW
Backshall Landscaping
NJDEP
Budget and Finance
Somerset
Hills Bank
It is further resolved that
the approving signature of a trustee or director of the company on an
invoice presented by any vendor constitutes a defacto
second "signature" on the subsequent electronic payment of
that invoice. In support of this resolution, the treasurer's monthly
report will list all payments of $1000 and above that have been made to all
vendors since her last report.