416.2018 Adopting TOQ Investment Policy RESOLUTION ADOPTING TOWN OF QUEENSBURY
INVESTMENT POLICY
RESOLUTION NO.: 416, 2018
INTRODUCED BY: Mr. George Ferone
WHO MOVED ITS ADOPTION
SECONDED BY: Mrs. Jennifer Switzer
WHEREAS, in furtherance of recommendations from the Office of the State Comptroller,
the Queensbury Town Board wishes to adopt a Town Investment Policy applying to all moneys
and financial resources available for deposit and investment by the Town on its own behalf or on
behalf of any other entity or individual, with the primary objectives of the Town's investment
activities to conform with all applicable Federal, State and other legal requirements, adequately
safeguard principal (safety), provide sufficient liquidity to meet all operating requirements
(liquidity) and obtain a reasonable rate of return (yield), and
WHEREAS, a proposed Investment Policy has been presented at this meeting,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby adopts the Town of Queensbury
Investment Policy substantially in the form presented at this meeting, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Supervisor,
Town Counsel and/or Town Budget Officer to take any actions necessary to effectuate the terms
of this Resolution.
Duly adopted this 19'' day of November, 2018, by the following vote:
AYES Mr. Ferone, Mrs. Switzer, Mr. Strough, Mrs. Atherden
NOES None
ABSENT : None
ABSTAIN: Mr. Metivier
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