539.2008
RESOLUTION APPROVINGREMOVALOFSTATESTREETAND
APPOINTMENTOFRELIANCETRUSTCOMPANYASPASSIVE,
NONDISCRETIONARYTRUSTEEOFTRUSTFORTOWNOF
QUEENSBURY’SDEFERREDCOMPENSATIONPLAN
RESOLUTION NO.: 539, 2008
INTRODUCED BY: Mr. John Strough
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Ronald Montesi
WHEREAS, State Street Bank and Trust Company (“State Street”) currently serves as
passive, nondiscretionary Trustee for the Town of Queensbury Deferred Compensation Plan (the
“Plan”), and
WHEREAS, State Street has provided notice to Hartford Life Insurance Company that it
will no longer provide these services to our customers beyond January 9, 2009, and
WHEREAS, as a result, it is desirable to remove State Street as passive, nondiscretionary
Trustee of the trust for the Plan and to appoint Reliance Trust Company (“RTC”) as successor
passive, nondiscretionary Trustee of the trust for the Plan, and
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby removes State Street as passive,
nondiscretionary Trustee of the Trust for the Plan and hereby appoints Reliance Trust Company
as successor passive, nondiscretionary Trustee for the Trust for the Plan, and
BE IT FURTHER,
RESOLVED, that the Town Board hereby authorizes, empowers and directs the Town
Supervisor on behalf of the Town Board to execute any and all documents required to effectuate
each removal and appointment, including but not limited to the Trustee Removal and
Appointment presented at this meeting, and to take such actions as are necessary, appropriate or
advisable to effectuate the foregoing Resolution.
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Duly adopted this 17 day of November, 2008 by the following vote:
AYES : Mr. Montesi, Mr. Strough, Mr. Brewer, Mr. Stec, Mr. Metivier
NOES : None
ABSENT: None