006.2003
RESOLUTION AUTHORIZING BANKING TRANSACTIONS AND
INTERNET-BASED BANKING SERVICES
RESOLUTION NO.: 6, 2003
INTRODUCED BY: Mr. Roger Boor
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Tim Brewer
WHEREAS, New York State Town Law Paragraph 64, Subdivision 1, requires the Town
Board to annually designate its Depositories for Town Funds, and
WHEREAS, in accordance with New York State General Municipal Law §5-a and §10
and Town Law §64, it is the duty of the governing boards of local government to adopt a system
of internal controls for the documentation and reporting of all transfers or disbursements of funds
accomplished by electronic or wire transfer, and
WHEREAS, in accordance with prudent business and cash management practices the
Queensbury Town Board wishes to formally specify the authorities under which business may be
transacted with these Depositories, and
WHEREAS, the Town previously received three (3) agreements providing for Internet-
based banking services from Evergreen Bank entitled:
1.eCashManager Internet Banking Services Agreement – Governmental;
2.ACH Agreement Banknorth, N. A. Governmental Customer Agreement for
Electronic Payment Services; and
3.Wire Transfer Agreement (Governmental);
and such Agreements have been reviewed and are in form acceptable to the Town Comptroller’s
Office and Town Counsel,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby authorizes and directs the
following actions:
1.The following individuals, in their official capacities, are authorized to transact the
financial and banking business of the Town of Queensbury in accordance with all
applicable laws and organization documents, and the specific authorities granted by this
Resolution:
Dennis R. Brower, Supervisor
Theodore Turner, Deputy Supervisor
Henry S. Hess, Comptroller
2.Each of the following banks has applied and consented to serve as Depository of Town
funds and has executed a Third Party Custodian Agreement satisfactory to the Town
Comptroller and Town Counsel and are hereby designated as approved Depositories:
Evergreen Bank, NA
Glens Falls National Bank and Trust Company
Chase Manhattan Bank
Fleet Bank
Trustco Bank
3.The Town Supervisor and Town Comptroller, or either one of them, is/are hereby
authorized to open a bank account or accounts from time to time with authorized banks
and their affiliates for and in the name of the Town of Queensbury with such title or titles
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as he/she may designate, and to execute depository contracts that comply with Town
Policy and operating procedures established by the Town Comptroller.
4.The maximum FDIC insured amount which may be kept on deposit at each Bank at any
time is $100,000. The amount over and above FDIC insurance of $100,000 which may
be kept on deposit at each Bank is limited the value of approved collateral, calculated in
accordance with Regulations of the New York State Comptroller, pledged to secure
Town deposits and deposited with the designated Third Party Custodian.
5.The Town Supervisor, Deputy Town Supervisor and Town Comptroller and their
successors and any other person authorized by statute, regulation or Court Order of behalf
of the these authorized persons, is/are hereby authorized to sign, by hand or by facsimile
(including, but not limited to, electronically generated) signatures(s), checks, drafts,
acceptances and other instruments. Two of the three persons listed (i.e., the Town
Supervisor, Deputy Town Supervisor and Town Comptroller) shall be required to sign
any checks, drafts, acceptances and other instruments.
6.The Town Supervisor and Town Comptroller are authorized singly, within operational
procedures established by the Town Comptroller, to initiate Automated Clearing House
debits without signature; initiate payment by use of Depository Transfer Checks without
a signature; or give instructions, by means other than the signing of an item, with respect
to any account transaction, including the payment transfer or withdrawal by wire,
computer or other electronic means.
7.The Town Supervisor and Town Comptroller are hereby authorized without further
action of the Town Board to execute Bank forms establishing procedures for call-back
verifications and written confirmations in connection with payment orders, thereby
designating one or more individuals, whether or not such individuals be designated as
“Authorized Persons”, for the purpose of the verification of payment orders and issuance
of written confirmations.
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8.The Town Clerk and/or Deputy Town Clerk(s) is/are hereby authorized and directed to
certify to Authorized Bank Depositories under the seal of the Town of Queensbury the
effect of this Resolution, the names of the officials, authorized persons and other
representative of the Town of Queensbury and any changes from time to time of these
officials, authorized persons and representatives, and specimens of their respective
signatures.
9.The Town Board authorizes and directs the individuals listed in number 1 above, subject
to any written limitations, to exercise the following “Powers Granted”:
A.Execute and deliver the eCashManager Internet Banking Services Agreement –
Governmental (Agreement) and in accordance with such Agreement, use computer
banking to check balances and account information on the Town’s deposit and loan
accounts with Evergreen Bank (Bank), transfer funds from the Town’s deposit
accounts to other deposit accounts of the Town or to make payments on the Town’s
loan accounts and to enter stop payment orders on the Town’s checking accounts with
the Bank and conduct any other activity authorized under the Agreement; and
B.Execute and deliver the ACH Agreement Banknorth, N.A. Governmental Customer
Agreement for Electronic Payment Services and in accordance with such Agreement,
initiate debit and credit ACH transactions to the deposit accounts of the Town;
C.Execute and deliver the Wire Transfer Agreement (Governmental) and in accordance
with such Agreement, initiate domestic wire transfers from the Town’s accounts at
the Bank;
and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs that:
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1.The Bank is designated to provide the computer-based financial accommodations
indicated in this Resolution.
2.This Resolution shall continue to have effect until express written notice of its
rescission or modification has been received and recorded by the Bank. Any and
all prior Resolutions adopted by the Town Board and certified to the Bank as
governing the operation of the Town’s accounts are in full force and effect until
the Bank receives and acknowledges an express written notice of its revocation,
modification or replacement. Any revocation, modification or replacement of a
Resolution must be accompanied by documentation, satisfactory to the Bank,
establishing the authority for the changes.
3.The signature of an Agent named on this Resolution is conclusive evidence of his
authority to act on behalf of the Town. Any Agent, so long as he acts in a
representative capacity as Agent of the Town, is authorized to make any and all
other contracts agreements, stipulations and orders which he may deem advisable
for the effective exercise of the powers indicated above, from time to time with
the Bank, subject to any restrictions on this Resolution or otherwise agreed to in
writing.
4.All computer banking transactions, if any, by or on behalf of the Town prior to
the adoption of this Resolution are hereby ratified, approved and confirmed.
5.The Town agrees to the terms and conditions of the eCashManager Internet
Banking Services Agreement – Governmental and the ACH Agreement
Banknorth, N.A. Governmental Customer Agreement for Electronic Payment
Services and the Wire Transfer Agreement (Governmental) and authorizes any
Agent named above to execute such Agreements and deliver them to the Bank.
The Town authorizes the Bank, at any time, to charge the Town for all checks,
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drafts or other orders for the payment of money that are drawn on the Bank so
long as they contain the required number of signatures for this purpose.
6.The Town acknowledges and agrees that the Bank may rely on alternative
signature and verification codes to or obtained from the Agents named in this
Resolution. The term “alternative signature and verification codes” includes, but
is not limited to, ID numbers and personal identification numbers (PIN) to be used
by the Agents to access Internet banking services. The Bank shall have no
responsibility or liability for unauthorized use of alternative signature and
verification codes unless otherwise agreed to in writing.
and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Comptroller’s
Office to adopt a system of internal controls for the documentation and reporting of all transfers
or disbursements of funds accomplished by electronic or wire transfer, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Supervisor
and/or Town Comptroller to take any and all action necessary to effectuate all terms of this
Resolution.
th
Duly adopted this 6 day of January, 2003, by the following vote:
AYES : Mr. Turner, Mr. Stec, Mr. Brewer, Mr. Brower, Mr. Boor
NOES : None
ABSENT: None
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