3.02 3.2
SERVICES\Environmental Capital LLC-Financial Advisory Services-4-16-18
RESOLUTION AUTHORIZING ENGAGEMENT OF ENVIRONMENTAL
CAPITAL LLC TO PROVIDE FINANCIAL ADVISORY SERVICES
RESOLUTION NO.: ,2018
INTRODUCED BY:
WHO MOVED ITS ADOPTION
SECONDED BY:
WHEREAS, the Queensbury Town Board has previously engaged the services of
Environmental Capital LLC to provide financial advisory services in conjunction with any bond issue as
well as continuing disclosure submission and general financial advisory services as requested and
directed by the Town, and
WHEREAS, Environmental Capital LLC has offered to render these services at an hourly rate
scale depending on the staff requirements of$175 - $250 per hour, plus documented out-of-pocket
expenses, and
WHEREAS, the Town Budget Officer recommends the engagement of Environmental Capital
LLC,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby authorizes engagement of
Environmental Capital LLC to provide the financial advisory services delineated in the preambles of
this Resolution and as set forth in their March 30t''engagement letter presented at this meeting, and
BE IT FURTHER,
RESOLVED, that the Town Board authorizes and directs the Town Budget Officer to amend
the Town Budget and/or take any actions necessary to provide for payment of such services from the
appropriate Town account(s), and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Supervisor to
execute the engagement letter in substantially the form presented at this meeting and the Town
Supervisor and/or Town Budget Officer to take any other actions necessary to effectuate the terms of
this Resolution.
Duly adopted this 16ffi day of April, 2018 by the following vote:
AYES
NOES
ABSENT:
Environmental
Capital
March 30,2019
Hon. John F. Strough
Town Supervisor
742 Bay Road
Queensbury,NY 12804
Re: Provision of Financial Advisory Services
Supervisor Strough:
I am pleased to submit this letter to the Town of Queensbury (the "Town") to serve as our
agreement for services to be provided to the Town regarding general Financial Advisory by
Environmental Capital LLC ("EC").
• General Financial Advisory
EC will provide ongoing Financial Advisory and Consulting services to the Town. Such services
will be at the direction of the Town. The Town and EC may agree upon a fixed fee for a given
task. such amount to be negotiated at the time that the Town directs EC to execute the task.
Other areas in which advice may be provided include other investments, investment programs,
economic forecasts and other financial matters. EC will be compensated for such services at an
hourly rate scale depending on the staff requirements of $250.00- $175.00 per hour, plus
documented out-of-pocket expenses.
Specifically, the following individuals will be charged at the following hourly rates:
Richard McCarthy, President $250/hour
Pranita Suvarna, Vice President $200/hour
This Agreement will continue until terminated by either party upon 30 days' notice.
If these terms are satisfactory to the Town, please execute this letter in the space provided below
and return one copy of it to me.
110 West 40th Street Suite New York,NY 10018 • 212 302 4227 tel 212 302 4420 fax • www.encapllc.com
Sincerely.
Richard N. McCarthy
President
Accepted and Agreed to:
(Name)
(Signature)
(Title)
(Date)