479.95
RESOLUTION CONCERNING RESTATED TRUST DOCUMENT AND
INVESTMENT MANAGEMENT AGREEMENT
RESOLUTION NO. 479.95
INTRODUCED BY: Mrs. Carol Pulver WHO MOVED FOR ITS ADOPTION
SECONDED BY: Mrs. Connie Goedert
WHEREAS, the Town Board of the Town of Queensbury previously
adopted Local Law No. 4 of 1995, which made certain amendments to
the Town of Queensbury Fire Service Award Program and which
amendments, among other things, broadened the nature and type of
investments that may be made with the program funds, and
WHEREAS, in furtherance of the authorization that has been
provided, the Town Board of the Town of Queensbury desires to adopt
and approve a Restated Trust Document and also approve and
authorize the execution of an Investment Management Agreement with
the Glens Falls National Bank and Trust Company,
NOW, THEREFORE, BE IT
RESOLVED, that the Town Board of the Town of Queensbury hereby
acknowledges that the Town of Queensbury is the trustee for the
Volunteer Firefighter Service Award Program, and
BE IT FURTHER
RESOLVED, that the Town Board of the Town of Queensbury, on
behalf of the Town of Queensbury, hereby approves the Restated
Trust Document presented at this meeting and authorizes the Town
Supervisor to execute the same on behalf of the Town, and
BE IT FURTHER
RESOLVED, that the Town Board of the Town of Queensbury, on
behalf of the Town, hereby authorizes the retention of Glens Falls
National Bank and Trust Company as an investment management agent
and hereby approves the Investment Management Agreement and
attached Schedules presented at this meeting with the understanding
that Schedule A shall constitute a schedule of fees to be charged
by the Bank, and Schedules B-1 through B-5 shall constitute
requirements, policies, and directions to the Glens Falls National
Bank and Trust Company, and
BE IT FURTHER
RESOLVED, that the Town Supervisor is hereby directed and
authorized to execute, on behalf of the Town of Queensbury, the
Investment Management Agreement and thereby engage the services of
Glens Falls National Bank and Trust Company.
Duly adopted this 11th day of September, 1995, by the
following vote:
AYES : Mrs. Goedert, Mrs. Pulver, Mrs. Monahan, Mr. Turner, Mr.
Champagne
NOES : None
ABSENT: None
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