Item Coversheet






Supervisor Bosworth offered the following resolution and moved its adoption, which resolution was declared adopted after a poll of the members of this Board:

RESOLUTION NO. 68 - 2019

A RESOLUTION AMENDING THE TOWN OF NORTH HEMPSTEAD INVESTMENT POLICY.

        WHEREAS, the Town Board (the “Board”) of the Town of North Hempstead (the “Town”) has heretofore adopted, and authorized amendments to, the Investment Policy of the Town of North Hempstead (the “Investment Policy”); and

 

        WHEREAS, the Town Comptroller (the “Comptroller”) has requested

authorization to further amend the Investment Policy in order to reduce the margin percentage to be observed in providing sufficient letters of credit for collateralization of Town deposits from 102% to 100% of the Town’s deposits (the “Amendment”); and

 

        WHEREAS, the Board wishes to authorize the Amendment.

NOW, THEREFORE, BE IT

 

        RESOLVED that the Town Board does hereby authorize the Amendment; and be it further

 

        RESOLVED that the Comptroller shall annually provide a copy of the

Investment Policy, as amended by the Amendment, to the Office of the Town Clerk and to each designated depository institution.

 

 

Dated:             Manhasset, New York                                                                       

                        January 29, 2019

           

                        The vote on the foregoing resolution was recorded as fol­lows:

 

Ayes:  Councilperson De Giorgio, Councilperson Russell, Councilperson Seeman, Councilperson Zuckerman, Supervisor Bosworth  

 

Nays:  None

 

Absent:  Councilperson Ferrara

 

                                                                                               

 

cc:        Town Attorney           Comptroller