429.2007
RESOLUTION AUTHORIZING AGREEMENT BETWEEN
TOWN OF QUEENSBURY AND FISCAL ADVISORS & MARKETING, INC.
FOR COMPLIANCE WITH SECURITIES AND EXCHANGE COMMISSION
RULE 15C2-12
RESOLUTION NO.: 429, 2007
INTRODUCED BY: Mr. Richard Sanford
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Daniel Stec
WHEREAS, the U.S. Securities and Exchange Commission Rule 15c2-12 (Rule) requires that
the Town of Queensbury provide continuing disclosure of certain events and annual updated financial
information and operating data relating to the Town’s outstanding indebtedness, and
WHEREAS, many municipalities have entered into agreements with Fiscal Advisors and
Marketing, Inc. (FA) to assist with such compliance requirements due to the technicalities and time
involved in complying with such regulations and the resources required to keep up with any changes,
and
WHEREAS, FA has offered to act as the Town’s dissemination agent for filing the financial
information and operating data with the proper repositories, Rulemaking Board or individual requests
as required by the Rule and assist the Town in determining if an event is a material event as defined by
the Rule thereby requiring notification to the proper organizations, and
WHEREAS, FA proposes to provide such services the Town at a cost of up to $1,800 per
fiscal year, and a fee of $500 per event disclosure, if any, as set forth in FA’s proposed Agreement for
Continuing Secondary Market Disclosure presented at this meeting, and
WHEREAS, the Town Fiscal Manager has recommended that the Town Board enter into such
Agreement, and
WHEREAS, such Agreement is in form approved by Town Counsel,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby authorizes the Agreement for
Continuing Secondary Market Disclosure between the Town and Fiscal Advisors & Marketing, Inc.,
substantially in the form presented at this meeting, at a cost of up to $1,800 per fiscal year and a fee of
$500 per event disclosure, if any, such amounts to be paid for from the appropriate account(s) as will
be determined by the Town Fiscal Manager, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Supervisor and/or
Town Fiscal Manager to sign any documentation and take any and all action necessary to effectuate the
terms of this Resolution.
th
Duly adopted this 24 day of September, 2007, by the following vote:
AYES: Mr. Sanford, Mr. Strough, Mr. Brewer, Mr. Stec, Mr. Boor
NOES: None
ABSENT:None