Annual Organization and Regular Village Board Meeting Page 1 of 10
April 2, 2007
The Clerk administered the Oath of Office to Mayor Coates and Trustee Lansing, and stated that Trustee Miller has taken his oath.
The Annual Organizational Meeting and Regular Semi-monthly Meeting of the Board of Trustees of the Village of Menands, was held on the 2nd day of April, 2007 in the Municipal Building, Menands, New York was called to order by Mayor Thomas G. Coates at 7:00 P.M.
PRESENT: Thomas G. Coates, Mayor
Megan Grenier, Trustee
Timothy A. Lane, Trustee
Mark Lansing, Trustee
William T. Smith, Jr., Clerk-Treasurer
Stephen Rehfuss, Village Attorney
Paul Reuss, Exec. Assist to the Mayor
ABSENT: Ronald H. Miller, Trustee
Also present: Bill Garvey, Don Bucher, Kevin Miller, Paul Cooney, Mike Conners, Connie Van Buren, Steve O’Connell, Deidre Martinez, Thomas J.E. Coates, Alex Coates, Buzz Harbour, Debbie Coates, Ann Budini, Diane Brunelle, Joyce O’Brien, Brian Rozmerski, Paul DeDominicis, Robert Schanz, Gert Kutz, Ed Himes, Chuck Price, Peter Moliniro, John Stangle and Mike O’Brien,
The Mayor led the Pledge to the Flag.
Mr. Paul DeDominicis addressed the Board concerning the concession stand at the little league field. A discussion followed with everyone agreeing that after the season a new shed will be built. Opening day is scheduled for Saturday, April 28, 2007.
A motion was made by Trustee Lane seconded, by Trustee Grenier, to approve payment for the following:
WARRANT # 21
GENERAL totaling $ 115,770.10
WATER totaling 4,299.99
SEWER totaling 14,584.99
TOTAL $134,585.08
PAYROLL # 21 totaling $ 69,300.73
ADOPTED: Trustee Grenier voting AYE
Trustee Lane voting AYE
Trustee Lansing voting AYE
Mayor Coates voting AYE
The Clerk led a discussion concerning a letter the Mayor received in connection with the Community Development Block Grant Program. After which Trustee Lane moved, seconded by Trustee Grenier a resolution authorizing the Mayor to sign the proposed cooperation agreement between the Town of Colonie and the Village of Menands necessary to continue our qualifications for entitlement funding under the Community Development Block Grant Program, this agreement also includes participation in the HOME program.
ADOPTED: Trustee Grenier voting AYE
Trustee Lane voting AYE
Trustee Lansing voting AYE
Mayor Coates voting AYE
Mayor Coates appointed Trustee Timothy A. Lane as Deputy Mayor to act as such in his place and stead during his absence or inability to act and is vested with all the powers and may perform all the duties of the Mayor, pursuant to Section 4-400 of the Village Law.
Mayor Coates reappointed Peter F. Stuto as Acting Village Justice for the ensuing official year.
Trustee Grenier offered seconded, by Trustee Lane, the following resolution and moved its adoption:
WHEREAS, Section 3-301 of the Village Law of this State empowers the Mayor to appoint an Acting Village Justice who shall serve when requested by the Village Justice or in the absence or inability of the Village Justice to serve,
NOW, THEREFORE, be it
RESOLVED, that the reappointment by Mayor Coates of Peter F. Stuto as Acting Village Justice for the ensuing official year be, and hereby is approved.
ADOPTED: Trustee Grenier voting AYE
Trustee Lane voting AYE
Trustee Lansing voting AYE
Mayor Coates voting AYE
Trustee Grenier offered seconded, by Trustee Lane, the following resolution and moved its adoption:
RESOLVED, that the Village Clerk-Treasurer of the Village of Menands shall file and execute an official undertaking in the sum of five hundred thousand dollars ($500,000.00) and that such undertaking shall be executed by a surety company authorized to transact business in this state, and that the expense thereof shall be a Village charge.
ADOPTED: Trustee Grenier voting AYE
Trustee Lane voting AYE
Trustee Lansing voting AYE
Mayor Coates voting AYE
Trustee Lane offered seconded, by Trustee Grenier, the following resolution and moved its adoption:
WHEREAS, there is to be held during the coming official year
a) New York State Conference of Mayors Annual Meeting and Training School;
b) New York State Conference of Mayors Fall Training School for Fiscal Officers and Municipal Clerks;
c) New York State Government Finance Officers Association Conference;
d) PERMA (Worker's Compensation) Conferences;
e) New York Conference of Mayors Public Works Training School;
f) American Water Works Association Conference (NYS Chapter);
g) SAMPO (NYS Association of Municipal Purchasing Officials) School
h) And other conferences pertaining to the Chief of Police, Fire Chiefs and Building and Fire Inspectors; and
WHEREAS, it is determined by the Board of Trustees that attendance by certain municipal officials and employees at one or more of these meetings, conferences or school benefits the municipality;
NOW, THEREFORE, be it
RESOLVED, that the following officers and employees are hereby authorized to attend one or more of the above mentioned conferences or schools: Mayor, Trustees, Executive Assistant to the Mayor, Village Attorney, Clerk-Treasurer, Chief of Police, Village Safety Officer, Foreman of Dept. of Public Works, Building and Fire Inspectors and Fire Chiefs, and be it further
RESOLVED, that this resolution shall take effect immediately.
ADOPTED: Trustee Grenier voting AYE
Trustee Lane voting AYE
Trustee Lansing voting AYE
Mayor Coates voting AYE
Trustee Lansing offered seconded by Trustee Lane, the following resolution and moved its adoption:
RESOLVED, that the regular meeting of the Board of Trustees of the Village of Menands shall be on the first and third Monday of each month during the ensuing official year, and in the
event that the date of the regular meeting shall be a holiday, such meeting shall be held on the following day, and such meeting may be adjourned from time to time in the manner prescribed by law and shall be held at the Municipal Building in said Village at 7:00 P.M. or at such other place, or such other time as may hereafter be designated by the Board of Trustees.
This notice is given in compliance with Article 7 of the Public Officers Law, relating to open meetings.
ADOPTED: Trustee Grenier voting AYE
Trustee Lane voting AYE
Trustee Lansing voting AYE
Mayor Coates voting AYE
Trustee Grenier offered the following resolution and moved its adoption:
RESOLVED, that the Times Union, published in the Town of Colonie and circulated in the Village of Menands and the County of Albany, be and the same hereby is, designated as the official paper for the said Village for the publication of all local laws, resolutions and notices of every kind, character or description, or any other matter required to be published during the ensuing official year.
The resolution was duly seconded by Trustee Lane.
ADOPTED: Trustee Grenier voting AYE
Trustee Lane voting AYE
Trustee Lansing voting AYE
Mayor Coates voting AYE
Trustee Lane offered the following resolution and moved its adoption:
RESOLVED, that Key Bank, NA of Albany, NY and the J. P. Morgan Chase Bank, Albany, NY, be and they hereby are, designated as the official depositories of the several funds of the Village of Menands for the ensuing official year; and be it further
RESOLVED, that the monies to be deposited in the fund known as the General Fund of the Village of Menands be deposited in the Key Bank, NA of Albany, Albany, New York and the J. P. Morgan Chase Bank, Albany, NY, and be it further
RESOLVED, that the monies to be deposited in the fund known as the Water Fund of the Village of Menands be deposited in the J. P. Morgan Chase Bank, Albany, NY, and be it further
RESOLVED, that the monies to be deposited in the fund known as the Sewer Fund of the Village of Menands be deposited in the J. P. Morgan Chase Bank, Albany, NY, and be it further
RESOLVED, that the monies to be deposited in the fund known as the Payroll/Trust and Agency Account of the Village of Menands be deposited in the Key Bank, NA of Albany, Albany, New York; and be it further
RESOLVED, that the funds to be deposited in the fund known as the Bond Proceeds Account of the Village of Menands be deposited in the J.P. Morgan Chase Bank, Albany, New York; and be it further
RESOLVED, that the funds to be deposited in the fund known as the Capital Projects Account of the Village of Menands be deposited in the J.P. Morgan Chase Bank, Albany, NY; and be it further
RESOLVED, that all checks and/or orders of withdrawal from the said depository on the aforesaid funds, with the exception of the Payroll/Trust and Agency Account, shall be signed by the Village Clerk-Treasurer and either the Mayor or Deputy Mayor or, in the absence of the Mayor or Deputy Mayor, by a Trustee designated by the Mayor. The Payroll/Trust and Agency Account
shall be signed by the Village Clerk-Treasurer or Mayor or Deputy Mayor or in their absence by a Trustee designated by the Mayor.
The resolution was duly seconded by Trustee Grenier.
ADOPTED: Trustee Grenier voting AYE
Trustee Lane voting AYE
Trustee Lansing voting AYE
Mayor Coates voting AYE
INVESTMENT POLICY AND PROCEDURES
FOR THE VILLAGE OF MENANDS
I. SCOPE
This investment policy applies to all moneys and other financial resources available for investment on its own behalf or on behalf of any other entity or individual.
II. OBJECTIVES
The primary objectives of the local government’s investment activities are, in priority order,
• to conform with all applicable federal, state and other legal requirements (legal);
• to adequately safeguard principal (safety);
• to provide sufficient liquidity to meet all operating requirements (liquidity); and
• to obtain a reasonable rate of return (yield).
III. DELEGATION OF AUTHORITY
The governing board’s responsibility for administration of the investment program is delegated to the Clerk-Treasurer who shall establish written procedures for the operation of the investment program consistent with these investment guidelines. Such procedures shall include an adequate internal control structure to provide a satisfactory level of accountability based on a data base or records incorporating description and amounts of investments, transaction dates, and other relevant information and regulate the activities of subordinate employees.
IV. PRUDENCE
All participants in the investment process shall seek to act responsibly as custodians of the public trust and shall avoid any transaction that might impair public confidence in the Village to govern effectively.
Investments shall be made with judgment and care, under circumstances than prevailing, which persons of prudence discretion and intelligence exercise in the management of their own affairs, not for speculation, but for investment, considering the safety of the principal as well as the probable income to be derived.
All participants involved in the investment process shall refrain from personal business activity that could conflict with proper execution of the investment program, or which could impair their ability to make impartial investment decisions.
VI. INTERNAL CONTROLS
It is the policy of the Village for all moneys collected by any officer or employee of the government to transfer those funds to the Clerk-Treasurer within ten days of deposit, or within the time period specified in law, whichever is shorter.
The Clerk-Treasurer is responsible for establishing and maintaining an internal control structure to provide reasonable, but not absolute, assurance that deposits and investments are safeguarded against loss from unauthorized use or disposition, that transactions are executed in accordance with management’s authorization and recorded properly, and are managed in compliance with applicable laws and regulations.
VII. DESIGNATION OF DEPOSITARIES
The banks and trust companies authorized for the deposit of monies up to the following maximum amounts are:
Depository Name Maximum Amount
KEY BANK OF NEW YORK $ 5,000,000.00
J P MORGAN CHASE $10,000,000.00
VIII. COLLATERALIZING OF DEPOSITS
In accordance with the provisions of General Municipal Law, §10, all deposits of the Village, including certificates of deposit and special time deposits, in excess of the amount insured under the provisions of the Federal Deposit Insurance Act shall be secured:
1. By a pledge of “eligible securities” with an aggregate “market value”, or provided by General Municipal Law, §10, equal to the aggregate amount of deposits from the categories designated in Appendix A to the policy.
2. By an eligible “irrevocable letter of credit” issued by a qualified bank other than the bank with the deposits in favor of the government for a term not to exceed 90 days with an aggregate value equal to 140% of the aggregate amount of deposits and the agreed upon interest, if any. A qualified bank is one whose commercial paper and other unsecured short-term debt obligations are rated in one of the three highest rating categories by at least one nationally recognized statistical rating organization or by a bank that is in compliance with applicable federal minimum risk-based capital requirements.
3. By an eligible surety bond payable to the government for an amount at least equal to 100% of the aggregate amount of deposits and the agreed upon interest, if any, executed by an insurance company authorized to do business in New York State, whose claims – paying ability is rated in the highest rating category by at least two nationally recognized statistical rating organizations.
IX. SAFEKEEPING AND COLLATERALIZATION
Eligible securities used for collateralizing deposits shall be held by a third party bank or trust company subject to security and custodial agreements.
The security agreement shall provide that eligible securities are being pledged to secure local government deposits together with agreed upon interest, if any, and any costs or expenses arising out of the collection of such deposits upon default. It shall also provide the conditions under which the securities may be sold, presented for payment, substituted or released and the events which will enable the local government to exercise its rights against the pledged securities. In the event that the securities are not registered or inscribed in the name of the local government, such securities shall be delivered in a form suitable for transfer or with an assignment in blank to the Village or its custodial bank.
The custodial agreement shall provide that securities held by the bank or trust company, or agent of and custodian for, the local government, will be kept separate and apart from the general assets of the custodial bank or trust company and will not, in any circumstances, be commingled with or become part of the backing for any other deposit or other liabilities. The agreement should also describe that the custodian shall confirm the receipt, substitution or release of the securities. The agreement shall provide for the frequency of revaluation of eligible securities and for the substitution of securities when a change in the rating of a security may cause ineligibility. Such agreement shall include all provisions necessary to provide the local government a
perfected interest in the securities.
X, PERMITTED INVESTMENTS
As authorized by General Municipal Law, §11, the Village authorizes the Clerk-Treasurer to invest moneys not required for immediate expenditure for terms not to exceed its projected cash flow needs in the following types of investments:
• Special time deposit accounts;
• Certificates of deposit;
• Obligations of the United States of America;
• Obligations guaranteed by agencies of the United States of America where the payment of principal and interest are guaranteed by the United States of America;
• Obligations of the State of New York;
• Obligations issued pursuant to LFL §24.00 or 25.00 (with approval of the State Comptroller) by any municipality, school district or district corporation other than the Village.
• Obligations of public authorities, public housing authorities, urban renewal agencies and industrial development agencies where the general State statutes governing such entities or whose specific enabling legislation authorizes such investments.
• Certificates of Participation (COPs) issued pursuant to GML, § 109-b,
• Obligations of this local government, but only with any moneys in a reserve fund established pursuant to GML, §6-c, 6-d, 6-e, 6-g, 6-h, 6-j, 6-k, 6-l, 6-m, or 6-n.
All investment obligations shall be payable or redeemable at the option of the Village within such times as the proceeds will be needed to meet expenditures for purposes for which the moneys were provided and, in the case of obligations purchased with the proceeds of bonds or notes, shall be payable or redeemable at the option of the Village within two years of the date of purchase.
X. AUTHORIZED FINANCIAL INSTITUTIONS AND DEALERS
The Village shall maintain a list of financial institutions and dealers approved for investment purposes and establish appropriate limits to the amount of investments which can be made with each financial institution or dealer. All financial institutions with which the local government conducts business must be credit worthy. Banks shall provide their most recent Consolidated Report of Condition (Call Report) at the request of the Village. Security dealers not affiliated with a bank shall be required to be classified as reporting dealers affiliated with the New York Federal Reserve Bank, as primary dealers. The Clerk-Treasurer is responsible for evaluating the financial position and maintaining a listing of proposed depositaries, trading partners and
custodians. Such listing shall be evaluated at least annually.
XII. PURCHASE OF INVESTMENTS
The Clerk-Treasurer is authorized to contract for the purchase of investments:
1.Directly, including through a repurchase agreement, from an authorized trading partner.
2.By participation in a cooperative investment program with another authorized governmental entity pursuant to Article 5G of the General Municipal Law where such program meets all the requirements set forth in the Office of the State Comptroller Opinion NO. 88-46, and the specific program has been authorized by the governing board.
3. By utilizing an ongoing investment program with an authorized tracking partner pursuant to a contract authorized by the governing board.
All purchased obligations, unless registered or inscribed in the name of the local government, shall be purchased through, delivered to and held in the custody of a bank or trust company only in accordance with prior written authorization from the officer authorized to make the investment. All such transactions shall be confirmed in writing to
the Village by the bank or trust company. Any obligation held in the custody of a bank or trust company shall be held pursuant to a written custodial agreement as described in General Municipal Law, § 10.
The custodial agreement shall provide that securities held by the bank or trust company, as agent of and custodian for, the local government, will be kept separate and apart from the general assets of the custodial bank or trust company and will not, in any circumstances, be commingled with or become part of the backing for any other deposit or other liabilities. The agreement shall describe how the custodian shall confirm the receipt and release of the securities. Such agreement shall include all provisions necessary to provide the local government a perfected interest in the securities.
XIII. REPURCHASE AGREEMENTS
• Repurchase agreements are authorized subject to the following restrictions:
• All repurchase agreements must be entered into subject to a Master Repurchase Agreement.
• Trading partners are limited to banks or trust companies authorized to do business in New York State and primary reporting dealers.
• Obligations shall be limited to obligations of the United States of America and obligations of agencies of the United States of America where principal and interest are guaranteed by the United State of America.
• No substitution of securities will be allowed.
• The custodian shall be a party other than the trading partner.
Trustee Lansing offered the following resolution and moved its adoption:
WHEREAS, this Board may authorize reimbursement of automobile expenses to officers and employees of the Village who use their personal automobiles while performing their official duties on behalf of the Village;
NOW, THEREFORE, be it
RESOLVED, that such reimbursement hereafter be made at the rate of 48.5 cents per mile to such personnel when they incur such expense, unless otherwise negotiated in a collective bargaining agreement, and be it further
RESOLVED, that when properly authorized, the same be paid upon audit by the Board of Trustees.
The resolution was duly seconded by Trustee Lane.
ADOPTED: Trustee Grenier voting AYE
Trustee Lane voting AYE
Trustee Lansing voting AYE
Mayor Coates voting AYE
Trustee Grenier offered the following resolution and moved its adoption:
RESOLVED, that all employees of the Village of Menands shall be granted vacations, sick leave, bereavement leave, jury duty leave and military leave in accordance with the provisions of the resolution adopted by the Board on May 2nd, 2005 unless otherwise amended or negotiated in a collective bargaining agreement.
The resolution was duly seconded by Trustee Lane.
ADOPTED: Trustee Grenier voting AYE
Trustee Lane voting AYE
Trustee Lansing voting AYE
Mayor Coates voting AYE
Trustee Lane offered the following resolution and moved its adoption:
RESOLVED, that the next Annual/Organizational meeting be held on Tuesday, April 1st, 2008 at 7:00 P.M. in the Municipal Building.
The resolution was duly seconded by Trustee Grenier.
ADOPTED: Trustee Grenier voting AYE
Trustee Lane voting AYE
Trustee Lansing voting AYE
Mayor Coates voting AYE
Trustee Lansing offered seconded, by Trustee Lane, the following resolution and moved its adoption:
RESOLVED, by the Board of Trustees of the Village of Menands that Records Retention and Disposition Schedule MU-1, issued pursuant to Article 57-A of the Arts & Cultural Affairs Law, and containing legal minimum retention periods for local government records, is hereby adopted for use by all officers in legally disposing of valueless records listed therein.
FURTHER RESOLVED, that in accordance with article 57-A:
a. only those records will be disposed of that are described in Records Retention and Disposition Schedule MU-1 after they have met the minimum retention periods described therein;
b. only those records will be disposed of that do not have sufficient administrative, fiscal, legal or historical value to merit retention beyond established legal minimum periods.
ADOPTED: Trustee Grenier voting AYE
Trustee Lane voting AYE
Trustee Lansing voting AYE
Mayor Coates voting AYE
The Mayor asked Trustees Grenier, Lane and Miller to coordinate the Annual Picnic this year. The date is Wednesday, August 15th, 2007 (rain date August 16th).
Trustee Lane advised everyone that the Energy Study by Trane that was proposed last year will not result in the required documented saving, therefore, the study is not going to be finalized.
Trustee Grenier stated that Meet the Board luncheons are scheduled for the following departments:
DPW - April 11th at 1:00 P.M.
Police – April 19th at 12:00 Noon
she hoped that the Board members could make it.
Resident Jim Long asked the Board to change the format of the public hearing on the Budget to a presentation in future years, as he feels it would be more beneficial.
Trustee Grenier led a discussion concerning a Workshop for the Board as that the new members could be brought up the date on projects the Village is doing or need to schedule. Attorney Rehfuss and Clerk Smith advised the Board that the Workshop would need to be published according to the open meetings law. It was decided to arrange a date at the next Board Meeting.
John Stangle asked that the Board consider purchasing a speaker system as it is hard to hear the conversation of the Board in the back of the room.
Mayor Coates thanked everyone for coming and hoped that the attendance would continue in the future.
The Clerk reminded everyone that the Public Hearing for the Budget is next Monday, April 9th, 2007 at 7:00 PM and that it will be held in the Firehouse.
Also that the reservations for the Dumpster loaned to residents began at 8:00 A.M. today.
The Clerk and Paul Reuss advised the Board that a business breakfast has been scheduled for Wednesday, May 23rd at 7:15 A.M. and that information will be going out shortly. A discussion followed.
A motion was made by Trustee Lane, seconded by Trustee Grenier to adjourn.
ADOPTED: Trustee Grenier voting AYE
Trustee Lane voting AYE
Trustee Lansing voting AYE
Mayor Coates voting AYE
The meeting was duly adjourned at 7:46 P.M.
__________________________ William T. Smith,
Jr.
Clerk - Treasurer
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