WHEREAS, the Town Comptroller has requested that the Town Board designate certain banks and trust companies of the State of New York (the “Financial Institutions”) as depositories of Town funds for the deposit and drawing of orders for the payment of money by the Town; and
WHEREAS, the Town Board wishes to establish such depositories.
NOW, THEREFORE, BE IT
RESOLVED that the following named Financial Institutions be hereby designated as the depositories in which the Supervisor, Comptroller, Town Clerk, and Receiver of Taxes shall deposit all monies coming into their possession by virtue of their office during the year 2024:
Bank of America
First National Bank of Long Island
Flushing Bank
Hanover Bank
J.P. Morgan Chase
Signature Bank
TD Bank
Webster Bank
Wells Fargo Bank
; and be it further
RESOLVED that the foregoing designation of each Financial Institution is conditioned upon their collateralizing Town deposits by pledging eligible securities as more fully described in the Town’s Investment Policy, dated December 16, 2021, as amended, and in accordance with General Municipal Law §10; and be it further
RESOLVED that the Financial Institutions are authorized and directed to honor checks, drafts, or other orders for the payment of money drawn in the name of the Town of North Hempstead when bearing the original or facsimile signature of Jennifer DeSena, Supervisor; and be it further
RESOLVED that the Financial Institutions are authorized and directed to honor checks, drafts, or other orders for the payment of money drawn in the name of the Town of North Hempstead -- Office of the Receiver of Taxes -- when bearing the original or facsimile signature of Mary Jo Collins, Receiver of Taxes; and be it further
RESOLVED that First National Bank of Long Island is authorized and directed to honor checks, drafts, or other orders for the payment of money drawn in the name of the Town of North Hempstead -- Office of the Town Clerk -- when bearing the original or facsimile signature of Ragini Srivastava, Town Clerk; and be it further
RESOLVED that J.P. Morgan Chase Bank is authorized and directed to honor checks, drafts, or other orders for the payment of money drawn in the name of the Town of North Hempstead -- Town Attorney Escrow Account -- when bearing the original or facsimile signature of Richard Nicolello, duly appointed Town Attorney; and be it further
RESOLVED that the Supervisor, Comptroller, Receiver of Taxes, Town Clerk and Town Attorney are hereby authorized to take such other action as may be necessary to effectuate the foregoing.
Dated: Manhasset, New York
January 9, 2024
The vote on the foregoing resolution was recorded as follows:
Ayes: Councilperson Adhami, Councilperson Dalimonte, Councilperson Scott, Councilperson Troiano, Councilperson Walsh, Supervisor DeSena.
Nays: None.
Absent: Councilperson Liu.
cc: Town Attorney, Comptroller |