269.97
RESOLUTION EXTENDING BANKING SERVICES AGREEMENT
WITH EVERGREEN BANK
RESOLUTION NO.: 269. 1997
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, by resolution no. 251, 96, the Town extended the
banking services agreement with Evergreen Bank for another year
through June 30, 1997, and
WHEREAS, the Town of Queensbury wishes to extend the banking
services agreement with Evergreen Bank until March 30, 1998 and
Evergreen Bank has agreed to this extension of banking services,
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 until March 30, 1998 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 7th day of July, 1997 by the following vote:
AYES : Mrs. Monahan, Mr. Turner, Mrs. Goedert, Mrs. Pulver, Mr.
Champagne
NOES : None
ABSENT: None