251.96
RESOLUTION EXTENDING BANKING SERVICES AGREEMENT
WITH EVERGREEN BANK
RESOLUTION NO.: 251.96
INTRODUCED BY: Mrs. Carol Pulver WHO MOVED ITS ADOPTION
SECONDED BY: Mrs. Connie Goedert
WHEREAS, the Town Board of the Town of Queensbury engages a
bank to perform various banking services, and
WHEREAS, the Town solicited quotations for banking services in
1994, and
WHEREAS, Evergreen Bank's (formerly First National Bank of
Glens Falls) quotation was accepted by the Town Board on the 20th
day of June, 1994, by resolution no. 301, 94, and
WHEREAS, the term of the agreement was for one year, beginning
July 1, 1994, with a one-year extension at the Town's option, and
WHEREAS, by resolution no. 337, 95, the Town extended the
banking services agreement with Evergreen Bank for one year through
June 30, 1996, and
WHEREAS, the Town of Queensbury wishes to extend the banking
services agreement with Evergreen Bank for an additional year, and
Evergreen Bank, by letter dated April 24, 1996, has indicated a
willingness to extend banking services until June 30, 1997, and
WHEREAS, the Town bank accounts are currently at Evergreen
Bank, and the Town has received good service, as well as excellent
investment rates, and
WHEREAS, the Town's bank accounts will remain at Evergreen
Bank with the same rates as agreed to in the original agreement,
and
WHEREAS, the Town is able to invest idle funds at the best
certificate of deposit rates available, and
WHEREAS, the Town may keep nominal deposits at other banks for
purposes such as obtaining bond anticipation notes and bond quotes,
maintaining account relationships, and similar purposes,
NOW, THEREFORE, BE IT
RESOLVED, that the Town Board of the Town of Queensbury hereby
approves and authorizes the continuation of the agreement with
Evergreen Bank for a period of one year (until June 30, 1997) for
the provision of banking services as outlined in the original
agreement and the Town Supervisor is hereby authorized and directed
to execute any further agreements or extension agreements
concerning such extension of banking services and where necessary,
place the seal of the Town on the same.
Duly adopted this 3rd day of June, 1996 by the following vote:
AYES : Mrs. Goedert, Mrs. Pulver, Mrs. Monahan, Mr. Turner, Mr.
Champagne
NOES : None
ABSENT: None