Draft Town Board Meeting Agenda 1-26-09

Posted on: 1/23/2009
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DRAFT

 

January 26, 2009 Town of Rhinebeck Agenda

 

6:45 Call to Order

 

Pledge of Allegiance

 

Business:

 

  1. Approve Richard Cain as Vanderburgh Cove Sewer Operator at $933.33 per month for 2009.
  2. Appoint Gloria Keenan and JoAnn Gelb to Committee on Aging, terms to expire 12/31/2009.
  3. Authorize Dep. Supervisor Washburn to sign agreement with Dutchess County Sheriff for police protection.
  4. Authorize PANDA request of $15,180.90 for 2009 Town contribution.
  5. Approve January 6th, 2009 Town Board meeting minutes.
  6. Authorize re-bid of sprinkler system for dock area
  7. Authorize re-bid of chemical controllers for pool.
  8. Authorize payment to Cynthia Baer for $26.99 for outdoor literature box at dock.
  9. Approve 2009 Recreation fees

 

  1. Accept 2008 annual department reports.
  2. Review Investment policy

 

Chapter 25: INVESTMENT POLICY

[HISTORY: Adopted by the Town Board of the Town of Rhinebeck 3-9-1987 by resolution. Amendments noted where applicable.]

§ 25-1. Objectives; authorized methods of investment.

The objectives of the investment policy of the local government are to minimize risk, to ensure that investments mature when the cash is required to finance operations and to ensure a competitive rate of return in accordance with this policy, and the chief fiscal officer or deputy fiscal officer are hereby authorized to invest all funds, including proceeds of obligations and reserve funds, in:

A.

Certificates of deposit issued by the First National Bank of Rhinebeck authorized to do business in New York State.

B.

Time deposit accounts in a bank or trust company authorized to do business in New York State.

§ 25-2. Investment requirements.

All investments made pursuant to this investment policy shall comply with the following conditions:

A.

Collateral. Certificates of deposit shall be fully secured by insurance of the Federal Deposit Insurance Corporation or by obligations of New York State or obligations of the United States or obligations of federal agencies, the principal and interest of which are guaranteed by the United States, or obligations of New York State local governments. Collateral shall be delivered to the local government or a custodial bank with which the local government has entered into a custodial agreement. The market value of collateral shall at all times equal or exceed the principal amount of the certificate of deposit. The chief fiscal officer should ensure that the proper obligations have been pledged and the obligations have an adequate market value to cover the deposits or investments.

B.

Delivery of securities. Payment shall be made by or on behalf of the local government for certificates of deposit and other purchased securities upon the delivery thereof to the custodial bank or, in the case of a book-entry transaction, when the purchased securities are credited to the custodial bank Federal Reserve System account. All transactions shall be confirmed in writing.

§ 25-3. Written contract required.

Written contracts shall be required for the purchase of all certificate of deposits, and a written contract shall be required with the custodial bank.

§ 25-4. Custodial bank designated.

A custodial bank has to be designated, and the bank chosen by the Town of Rhinebeck is the First National Bank of Rhinebeck has been chosen as the same to act in this capacity.

§ 25-5. Purchase and sale of securities; execution of contracts.

The chief fiscal officer or the deputy fiscal officer shall authorize the purchase and sale of all securities and execute contracts for repurchase agreements and certificates of deposit on behalf of the local government. Oral directions concerning the purchase or sale of securities shall be confirmed in writing. The local government shall pay for purchased securities upon the delivery or book-entry thereof.

 

  1. Cemetery Grasmere landscape plan
  2. Introduce Local Law 1 of 2009 creating an exemption for cold war veterans and set public hearing
  3. Introduce Local 2 of 2009 amending senior citizens exemption and set public hearing

 

ADJOURNMENT