339.95
RESOLUTION ELECTING TERMS OF PAYMENT FOR ADDITIONAL OBLIGATIONS
TO THE NEW YORK STATE EMPLOYEES' RETIREMENT SYSTEM
RESOLUTION NO.: 339.95
INTRODUCED BY: Mrs. Carol Pulver WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Nick Caimano
WHEREAS, the New York State Employees' Retirement System has
notified the Town of Queensbury of retroactive retirement
adjustments due, and
WHEREAS, the Retirement System has offered the Town a
selection of three pay back terms, and
WHEREAS, the Town Comptroller recommends a one year payment
term, and
WHEREAS, the 1995 Town Budget appears to have adequate
appropriations to make the full payment, and
WHEREAS, the Retirement System is charging interest for
selection of anything other than a one year pay back period,
NOW, THEREFORE, BE IT
RESOLVED, that the Town Board of the Town of Queensbury hereby
authorizes and directs the Town's Chief Fiscal Officer to supply
the Retirement System with the required notarized affidavit stating
that it is the Town's preference to pay the obligation in one
annual payment.
Duly adopted this 5th day of June, 1995 by the following vote:
AYES : Mr. Caimano, Mrs. Pulver, Mrs. Monahan, Mr. Turner, Mr.
Champagne
NOES : None
ABSENT : None