UNAPPROVED
DRAFT
MINUTES
OF THE PUBLIC HEARING TO CONSIDER MODIFICATION OF THE VILLAGE CODE ADVERTISED
AS LOCAL LAW #7 OF 2008 HELD ON
Mayor Rosenblum called
the Public Hearing to consider Local Law # 7 of 2008 to order at
Robert
Lynn Cox, Trustee
Hugh
A. O’Brien III, Trustee
Bruce
A. Rich, Trustee
Joseph
Prokop, Village Attorney
Joseph
Trustee
Rich summarized the proposed local law to amend Chapter 22 of the Code of the
MINUTES
OF THE BOARD OF TRUSTEES MEETING HELD ON
Mayor Rosenblum called
the
Robert
Lynn Cox, Trustee
Hugh
A. O’Brien III, Trustee
Bruce
A. Rich, Trustee
Joseph
Prokop, Village Attorney
Joseph
APPROVAL OF MINUTES
Draft
copies of the minutes of the meeting of
APPOINTMENT OF
VILLAGE OFFICIALS
Mayor Rosenblum
recommended appointment of the following officials of the
WHEREAS
the Honorable Scott Rosenblum as the Mayor of the Incorporated Village of
Saltaire has made certain appointments of Village Officials, Commissioners,
Board Members and other appointed officers of the Village, and;
WHEREAS
at the annual organizational meeting of the Village conducted on
RESOLVED
that the appointments of Village Officials, Officers, Commissioners, Board
Members and other appointed officers of the Village are hereby approved as
follows:
ADMINISTRATOR & CLERK-TREASURER Mario
Posillico
DEPUTY
VILLAGE CLERK/TREASURER Donna
Lyudmer
COUNSELOR
TO THE BOARD
TAX
ASSESSOR Mario
Posillico
BUILDING
INSPECTOR Mario
Posillico
FIRE
COMPANY PRESIDENT
FIRE
MARSHAL
YEAR
ROUND RESIDENT LIAISON Liv
Hempel
VILLAGE
HISTORIAN Elizabeth
Starkey
REGISTRAR
OF VITAL STATISTICS Liv
Hempel
VILLAGE
ATTORNEY Joseph
Prokop
PROSECUTORS David
Watts
Tamara
Pakes
Linda
Cassano
COURT
CLERK ……………………………………. Liv
Hempel
BOARDS & COMMISSIONS
BOARD
OF APPEALS (Chair)
Virginia
O'Brien (Holdover)
Paul
Kampa (Holdover)
ARCHITECTURAL
REVIEW COMM. (Chair) Robert
Mayers (Holdover)
Robert
Fielding (Holdover)
BD. OF
ASSESSMENT REVIEW (Chair) Elizabeth Starkey (Holdover)
Ann
Connolly Medenica (Holdover)
Alex
Chefitz (Holdover)
PLANNING
COMMISSION
(Chair)
Steve
Kunreuther (Holdover)
Patricia
McElhone (Holdover)
James
McCann (Holdover)
MEDICAL
ADVISORY COMM (Chair) James Ferguson, M.D.(Holdover)
Harold
Weinberg, M.D. (Holdover)
Richard
Fuchs (Holdover)
Anthony
Smith (Alternate)
Bill
Veronese (Alternate)
Trustee
O’Brien made a motion to adopt the resolution as presented, which motion was
seconded by Trustee Rich and on call without objection was unanimously so
approved.
ORGANIZATIONAL
MEETING RESOLUTIONS
Mayor
Rosenblum presented the following resolutions for adoption:
INCORPORATED
RESOLUTION OF THE BOARD OF TRUSTEES
DETERMINING COST OF BONDING VILLAGE OFFICERS
TO BE A VILLAGE EXPENSE
WHEREAS certain officers
of the Incorporated Village of Saltaire
are required by law to be bonded, and;
WHEREAS such bonding is
in conjunction with the discharge of their duties as officers of the Village,
and;
WHEREAS the
RESOLVED
by the
INCORPORATED
RESOLUTION OF THE BOARD OF TRUSTEES
DESIGNATING OFFICIAL VILLAGE BANKS AND
DEPOSITORIES
WHEREAS
the Mayor and
RESOLVED
that the official banks and depositories of the Incorporated Village of
SALTAIRE shall be the following:
JP Morgan Chase
Municipal Investors
Service Corporation
Subject to the review of appropriate
documentation of each bank by the Village Attorney and Treasurer.
INCORPORATED
RESOLUTION OF THE BOARD OF TRUSTEES
DESIGNATING OFFICIAL VILLAGE NEWSPAPER
WHEREAS
the Mayor and
RESOLVED
that the official newspaper of the Incorporated
Village of SALTAIRE shall be either the Islip Bulletin or Newsday.
INCORPORATED
RESOLUTION OF THE BOARD OF TRUSTEES
SETTING DATES OF REGULAR MONTHLY MEETINGS AND
ADOPTING THE RULES OF THE OPEN MEETINGS LAW
WHEREAS the Mayor and
WHEREAS
the Mayor and
RESOLVED that the regular meeting date of the
unless a proper public notice is otherwise made and given, then the
meeting for that month shall be on such other date as may be so set, and it is
further;
RESOLVED that the
INCORPORATED
RESOLUTION OF THE BOARD OF TRUSTEES
ESTABLISHING PROCEDURES FOR THE SETTING
AND NOTIFICATION OF A SPECIAL MEETING
WHEREAS the Mayor and
RESOLVED that a special meeting of the
RESOLVED that in the event of a special meeting being called the Mayor
and every member of the
INCORPORATED
RESOLUTION OF THE BOARD OF TRUSTEES
ADOPTING RULES OF ORDER AS THE
OFFICIAL PROCEDURE OF THE BOARD
WHEREAS
the Mayor and
WHEREAS the
RESOLVED that the Rules of
Procedure originally adopted on
INCORPORATED
RESOLUTION OF THE BOARD OF TRUSTEES
ADOPTING THE VILLAGE EMPLOYEE HANDBOOK
WHEREAS
the Mayor and
WHEREAS
the
RESOLVED
that the
INCORPORATED
RESOLUTION OF THE BOARD OF TRUSTEES
ADOPTING THE VILLAGE INVESTMENT POLICY
WHEREAS the Mayor and
WHEREAS
the
RESOLVED,
that the
1) The
objectives of the investment policy of the
a) To
invest only in instruments legally permissible for municipalities.
b) To
minimize risk so as to preserve principal and maintain a stable asset value
c) To
manage portfolio to ensure that cash will be available as required to finance
operations
d) To
maximize current income to the degree consistent with legality, safety and
liquidity.
2) In
accordance with this policy, the Village Treasurer is hereby authorized to
invest all funds, including proceeds of obligations and reserve funds, in:
a)
Certificates
of deposit issued by a bank or trust company authorized to do business in
b)
Time
deposit accounts in a bank or trust company authorized to do business in
c)
Obligations
of
d)
Obligations
of the
e)
Repurchase
agreements involving the purchase and sale of direct obligations of the
3)
All funds may be
invested in:
a)
Obligations
of agencies of the federal government, if principal and interest is guaranteed
by the
4) No other
5) All
investments made pursuant to this investment policy shall comply with the
following conditions:
a)
Collateral.
(1)
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, or a combination of same. Collateral shall be delivered to the
(2)
Securities
purchased through a repurchase agreement shall be valued to market at least
weekly.
(3)
Collateral
shall not be required with respect to the direct purchase of obligations of New
York State, obligations of the United States and obligations of federal
agencies the principal and interest of which are guaranteed by the United States
Government.
b)
Delivery
of securities.
(1)
Repurchase
agreements. Every repurchase agreement shall provide for payment to the seller
only upon the seller's delivery of obligations of the
(2)
Payment
shall be made by or on behalf of the Village of Saltaire for obligations of New
York State, obligations the principal and interest of which are guaranteed by
the United States, United States obligations, 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's Federal Reserve System account. All transactions shall be
confirmed in writing.
(3)
Written
contracts. Written contracts are required for repurchase agreements,
certificates of deposit and custodial undertakings. With respect to the
purchase of obligations of the United States, New York State or other
governmental entities, etc., in which moneys may be invested, the interests of
the Village of Saltaire will be adequately protected by conditioning payment on
the physical delivery of purchased securities to the Village of Saltaire or
custodian or, in case of book-entry transactions, on the crediting of purchased
securities to the custodian's Federal Reserve System account. All purchases
will be confirmed in writing to the
(a)
Written
contracts shall be required for all repurchase agreements. Only creditworthy
banks and primary reporting dealers shall be qualified to enter into a
repurchase agreement with the
(b)
Written
contracts shall be required for the purchase of all certificates of deposit
over $100,000.
6)
Financial strength of institutions
a)
All
trading partners must be creditworthy. Their financial statements must be
reviewed at least annually by the chief fiscal officer to determine
satisfactory financial strength, or the chief fiscal officer may use
credit-rating agencies to determine creditworthiness of trading partners.
Concentration of investments in financial institutions should be avoided. The
general rule is not to place more than $2,000,000 in overnight investments with
any one institution.
b)
Investments
in time deposits and certificates of deposit are to be made with banks or trust
companies. Their annual reports must be reviewed by the chief fiscal officer to
determine satisfactory financial strength.
c)
When
purchasing eligible securities, the seller shall be required to deliver the
securities to our custodial bank.
d)
Repurchase
agreements shall be entered into only with banks or trust companies or
registered and primary reporting dealers in government securities. Sound credit
judgments must be made with respect to trading partners in repurchase
agreements. It is not assumed that inclusion on a list of the federal reserve
is automatically adequate evidence of creditworthiness.
e) Repurchase agreements should not be entered into with undercapit