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FINANCIAL\2013\Banking Authorities to Water Supt and Wastewater Director—3-4
RESOLUTION AUTHORIZING BANKING TRANSACTIONS AND
INTERNET-BASED BANKING SERVICES FOR TOWN WATER
AND WASTEWATER DEPARTMENTS
RESOLUTION NO.: ,2013
INTRODUCED BY:
WHO MOVED ITS ADOPTION
SECONDED BY:
WHEREAS, by Resolution No.: 4,2013, the Queensbury Town Board authorized certain
banking transactions and internet-based banking services, and
WHEREAS, the Town Board wishes to adopt a similar Resolution pertaining and
granting authority to the Town's Water and Wastewater Departments,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby authorizes and directs the
following actions:
1. The following individuals, in their official capacities, are authorized to transact the
financial and banking business of the Town of Queensbury in accordance with all
applicable laws and organization documents, and the specific authorities granted by this
Resolution:
Ronald Montesi, Town Supervisor
John Strough, Deputy Town Supervisor
Bruce Ostrander, Water Superintendent
Chris Harrington, Civil Engineer/Acting Wastewater Director
2. TD Bank (Bank) has applied and consented to serve as a Depository of Town funds and
has executed a Third Party Custodian Agreement satisfactory to the Town Budget
Officer/Accountant and Town Counsel and is hereby designated as an approved
Depository.
3. The Town Supervisor, Deputy Supervisor, Water Superintendent and/or Civil
Engineer/Acting Wastewater Director or any one of them, is/are hereby authorized to
initialize opening a bank account or accounts from time to time with authorized banks
and their affiliates for and in the name of the Town of Queensbury Water Department
and/or Wastewater Department with such title or titles as he/she may designate, and to
execute depository contracts that comply with Town Policy and operating procedures.
To finalize any new account, the Town Supervisor, Deputy Supervisor, Water
Superintendent and Civil Engineer/Acting Wastewater Director need to execute the
appropriate documentation required by the financial institution, including, but not limited
to, signature cards.
4. The maximum FDIC insured amount which may be kept on deposit at the Bank at any
time is $250,000. The amount over and above FDIC insurance of$250,000 which may
be kept on deposit at the Bank is limited the value of approved collateral, calculated in
accordance with Regulations of the New York State Comptroller, pledged to secure
Town deposits and deposited with the designated Third Party Custodian.
5. The Town Supervisor, Deputy Supervisor, Town Water Superintendent and/or Civil
Engineer/Acting Wastewater Director and their successors and any other person
authorized by statute, regulation or Court Order on behalf of these authorized persons,
is/are hereby authorized to sign, by hand or by facsimile (including, but not limited to,
electronically generated) signatures(s), checks, drafts, acceptances and other instruments.
One signature shall be required on any checks, drafts, acceptances and other instruments.
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6. The Town Supervisor, Deputy Supervisor, Water Superintendent and Civil
Engineer/Acting Wastewater Director are hereby authorized without further action of the
Town Board to execute bank forms establishing procedures for call-back verifications
and written confirmations in connection with payment orders, thereby designating one or
more individuals, whether or not such individuals be designated as "Authorized Persons"
for the purpose of the verification of payment orders and issuance of written
confirmations and the Billing Supervisor and Principal Account Clerks are authorized to
have inquiry privileges for duly established accounts.
7. The Town Clerk and/or Deputy Town Clerk(s) is/are hereby authorized and directed to
certify to the Authorized Bank Depository under the seal of the Town of Queensbury the
effect of this Resolution, the names of the officials, authorized persons and other
representative of the Town of Queensbury and any changes from time to time of these
officials, authorized persons and representatives, and specimens of their respective
signatures.
and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs that:
1. TD Bank (Bank) is designated to provide the computer-based financial
accommodations indicated in this Resolution.
2. This Resolution shall continue to have effect until express written notice of its
rescission or modification has been received and recorded by the Bank. Any and
all prior Resolutions adopted by the Town Board and certified to the Bank as
governing the operation of the Town's accounts are in full force and effect until
the Bank receives and acknowledges an express written notice of its revocation,
modification or replacement. Any revocation, modification or replacement of a
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Resolution must be accompanied by documentation, satisfactory to the Bank,
establishing the authority for the changes.
3. The signature of an Agent named on this Resolution is conclusive evidence of his
authority to act on behalf of the Town. Any Agent, so long as he acts in a
representative capacity as Agent of the Town, is authorized to make any and all
other contracts agreements, stipulations and orders which he may deem advisable
for the effective exercise of the powers indicated above, from time to time with
the Bank, subject to any restrictions on this Resolution or otherwise agreed to in
writing.
4. All transactions, if any, by or on behalf of the Town prior to the adoption of this
Resolution are hereby ratified, approved and confirmed.
5. The Town agrees to the terms and conditions of any Account Agreement,
properly opened by any Agent of the Governmental Unit. The Town authorizes
the Bank, at any time, to charge the Town for all checks, drafts or other orders for
the payment of money that are drawn on the Bank so long as they contain the
required number of signatures for this purpose.
6. The Town acknowledges and agrees that the Bank may rely on alternative
signature and verification codes to or obtained from the Agents named in this
Resolution. The term "alternative signature and verification codes" includes, but
is not limited to, ID numbers and personal identification numbers (PIN) to be used
by the Agents to access Internet banking services. The Bank shall have no
responsibility or liability for unauthorized use of alternative signature and
verification codes unless otherwise agreed to in writing.
and
BE IT FURTHER,
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RESOLVED, that the Town Board further authorizes and directs the Town of
Queensbury's Accounting Office, Town Water Department and Town Wastewater Department
to adopt a system of internal controls for the documentation and reporting of all transfers or
disbursements of funds accomplished by electronic or wire transfer, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Supervisor,
the Water Superintendent, Civil Engineer/Acting Wastewater Director, Billing Supervisor,
Principal Account Clerk(s), and/or Town Budget Officer to take any and all action necessary to
effectuate all terms of this Resolution.
Duly adopted this 4th day of March, 2013, by the following vote:
AYES
NOES
ABSENT:
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