389.93
RESOLUTION APPROVING AND ADOPTING REVISED
INVESTMENT POLICY FOR THE TOWN OF QUEENSBURY
RESOLUTION NO.: 389, 1993
INTRODUCED BY: Mr. Nick Caimano WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Michel Brandt
WHEREAS, the Town Board of the Town of Queensbury has
heretofore, by Resolution No. 130, dated July 28, l987, adopted an
Investment Policy for the Town of Queensbury, and
WHEREAS, since the time that said Investment Policy was
adopted, revisions have been made to the General Municipal Law
concerning, among other things, Investment Policies for local
governments and collateralization of bank deposits, and
WHEREAS, the Office of the State Comptroller has also, more
recently, developed a model Investment Policy for use by
municipalities, and
WHEREAS, the Town Board of the Town of Queensbury, after
reviewing the model Investment Policy provided by the Office of the
State Comptroller, has determined that it would be appropriate for
use by the Town of Queensbury, and
WHEREAS, the model Investment Policy forms have been completed
and have been presented to this meeting for consideration of
approval and adoption by the Town Board of the Town of Queensbury,
NOW, THEREFORE, BE IT
RESOLVED, that the Town Board of the Town of Queensbury hereby
approves and adopts the Investment Policy for the Town of
Queensbury, as presented at this meeting, a copy of the same to be
kept with the Minutes of this meeting, with the Town Board of the
Town of Queensbury also acknowledging, approving and authorizing
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such delegation of authority to the Town Supervisor and/or other
Town Officials that may be set forth and/or authorized in the
aforesaid Investment Policy, and
BE IT FURTHER
RESOLVED, that the Town Board of the Town of Queensbury hereby
directs that a copy of the Investment Policy be distributed to the
Town Supervisor, the Director of Accounting Services, and such
other officers and staff of the Town of Queensbury as the Town
Supervisor may determine appropriate or necessary in discharging
the duties and responsibilities set forth in the Investment Policy
document, and be it further
RESOLVED, that the Town Board hereby directs that in
Investment Policy Appendix A Schedule of Eligible Securities (i)
through (xi) be marked with an X.
Duly adopted this 6th day of July, 1993, by the following
vote:
AYES : Mr. Tucker, Mrs. Monahan, Mrs. Goetz, Mr. Caimano, Mr.
Brandt
NOES : None
ABSENT: None
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