396.2003
RESOLUTION SETTING FORTH AUTHORIZATIONS
FOR CHECK SIGNING
RESOLUTION NO.: 396, 2003
INTRODUCED BY: Mr. Tim Brewer
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Daniel Stec
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, by Resolution No.: 354,2003, the Town Board authorized an Agreement with
Glens Falls National Bank and Trust Company to serve as the Town’s primary depository, and
WHEREAS, upon review of these Resolutions as well as the signature cards and sample
facsimile signatures Resolution submitted to the Town from Glens Falls National Bank and Trust
Company, the Town Comptroller has recommended that the Town Board adopt a Resolution clearly
setting forth its authorizations for check signing, and
WHEREAS, the Town Board concurs with the Town Comptroller’s recommendations,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby authorizes and directs the
following actions which will apply to the Town of Queensbury’s transactions with Glens Falls
National Bank and Trust Company as well as other depository banks:
1.Checks, drafts and electronic transfer of funds from depository accounts
maintained by the Town in any commercial financial institution may be disbursed
and/or withdrawn by any two of the following authorized signatories: Town
Supervisor; Town Comptroller; Deputy Town Supervisor.
2.Only checks in amounts less than $10,000 may be issued with facsimile
signatures of the Town Supervisor and Town Comptroller. The Town
Comptroller shall maintain control of the means of affixing facsimile signatures
and shall determine the rules and procedures for signing of checks manually or by
facsimile.
3.The Town’s indemnification of depository banks shall be limited to the Town’s
safekeeping of the electronic and/or mechanical means by which facsimile
signatures are affixed to checks.
and
BE IT FURTHER,
RESOLVED, that the Town Board further 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.
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Duly adopted this 8 day of September, 2003, by the following vote:
AYES: Mr. Brewer, Mr. Brower, Mr. Boor, Mr. Stec
NOES: None
ABSENT:Mr. Turner