241.2003
RESOLUTION DESIGNATING CHARTER ONE BANK AND TROY
COMMERCIAL BANK AS APPROVED DEPOSITORIES
RESOLUTION NO.: 241, 2003
INTRODUCED BY: Mr. Theodore Turner
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Roger Boor
WHEREAS, by Resolution No.: 6,2003, the Queensbury Town Board authorized certain
Town banking transactions and internet-based banking services and designated certain banks as
approved Depositories of Town funds, and
WHEREAS, the Town Comptroller has recommended that the Town Board add two banks
to the Town’s list of approved depositories in an effort to obtain more competitive banking rates and
services, and
WHEREAS, the Town Board concurs with the Town Comptroller’s recommendation,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby designates Charter One Bank and
Troy Commercial Bank as approved Depositories for the Town of Queensbury and authorizes and
directs the Town Comptroller to make the necessary arrangements to add Charter One Bank and
Troy Commercial Bank to the list of banks able to serve as Depositories of Town Funds, provided
that such Banks first enter into Third Party Custodian Agreements that comply with the
requirements and recommendations of the New York State Comptroller, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Supervisor to
execute such Third Party Custodian Agreements and authorizes and directs the Town Supervisor
and/or Town Comptroller to sign any other documentation and take all action necessary to
effectuate the terms of this Resolution.
th
Duly adopted this 5 day of May, 2003, by the following vote:
AYES : Mr. Boor, Mr. Turner, Mr. Stec, Mr. Brewer, Mr. Brower
NOES : None
ABSENT: None