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251.96 RESOLUTION EXTENDING BANKING SERVICES AGREEMENT WITH EVERGREEN BANK RESOLUTION NO.: 251.96 INTRODUCED BY: Mrs. Carol Pulver WHO MOVED ITS ADOPTION SECONDED BY: Mrs. Connie Goedert WHEREAS, the Town Board of the Town of Queensbury engages a bank to perform various banking services, and WHEREAS, the Town solicited quotations for banking services in 1994, and WHEREAS, Evergreen Bank's (formerly First National Bank of Glens Falls) quotation was accepted by the Town Board on the 20th day of June, 1994, by resolution no. 301, 94, and WHEREAS, the term of the agreement was for one year, beginning July 1, 1994, with a one-year extension at the Town's option, and WHEREAS, by resolution no. 337, 95, the Town extended the banking services agreement with Evergreen Bank for one year through June 30, 1996, and WHEREAS, the Town of Queensbury wishes to extend the banking services agreement with Evergreen Bank for an additional year, and Evergreen Bank, by letter dated April 24, 1996, has indicated a willingness to extend banking services until June 30, 1997, and WHEREAS, the Town bank accounts are currently at Evergreen Bank, and the Town has received good service, as well as excellent investment rates, and WHEREAS, the Town's bank accounts will remain at Evergreen Bank with the same rates as agreed to in the original agreement, and WHEREAS, the Town is able to invest idle funds at the best certificate of deposit rates available, and WHEREAS, the Town may keep nominal deposits at other banks for purposes such as obtaining bond anticipation notes and bond quotes, maintaining account relationships, and similar purposes, NOW, THEREFORE, BE IT RESOLVED, that the Town Board of the Town of Queensbury hereby approves and authorizes the continuation of the agreement with Evergreen Bank for a period of one year (until June 30, 1997) for the provision of banking services as outlined in the original agreement and the Town Supervisor is hereby authorized and directed to execute any further agreements or extension agreements concerning such extension of banking services and where necessary, place the seal of the Town on the same. Duly adopted this 3rd day of June, 1996 by the following vote: AYES : Mrs. Goedert, Mrs. Pulver, Mrs. Monahan, Mr. Turner, Mr. Champagne NOES : None ABSENT: None