417.2018 Authorizing Cooperative Investment Agreement and TOQ Participation in NYCLASS RESOLUTION AUTHORIZING COOPERATIVE INVESTMENT
AGREEMENT AND TOWN OF QUEENSBURY'S PARTICIPATION IN
NEW YORK COOPERATIVE LIQUID ASSETS
SECURITIES SYSTEM (NYCLASS)
RESOLUTION NO.: 417,2018
INTRODUCED BY: Mrs. Jennifer Switzer
WHO MOVED ITS ADOPTION
SECONDED BY: Mrs. Catherine Atherden
WHEREAS, New York General Municipal Law Article 5-G, §119-o empowers municipal
corporations to enter into, amend, cancel and terminate agreements for the performance among
themselves or one for the other of their respective functions, powers and duties on a cooperative
or contract basis, and
WHEREAS, the Town of Queensbury wishes to invest certain of its available investment
funds in cooperation with other corporations and/or district in accordance with a municipal
cooperation agreement, and
WHEREAS, the Town Board wishes to assure the safety and liquidity of its funds,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby authorizes the Cooperative Investment
Agreement in the name of and on behalf of the Town of Queensbury and the Town's participation in
the New York Cooperative Liquid Asset Securities System (NYCLASS) and authorizes and directs
the Town Supervisor to execute and deliver the Agreement as well as any other needed
documentation, 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 such other and further action as may be necessary to
effectuate the terms of this Resolution.
Duly adopted this 19ffi day of November, 2018,by the following vote:
AYES Mrs. Switzer, Mr. Strough, Mrs. Atherden, Mr. Ferone
NOES None
ABSENT : None
ABSTAIN: Mr. Metivier
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