RESOLUTION #159 – Local Law #7
(Passed at July 5, 2017 Full Mtg)
RESOLUTION #159
APPROVAL/LOCAL LAW TO AMEND CHAPTER 41, SECTION 41-5 OF THE CODE OF
PUTNAM COUNTY ENTITLED “DEPOSIT & INVESTMENT POLICY”
A Local Law to Amend Chapter 41, Section 41-5 of the Code of Putnam County Entitled
“Deposit & Investment Policy”
Be it enacted by the County Legislature of the County of Putnam as follows:
Section 1.
Section 41-5 of the Putnam County Code is hereby amended to read as follows:
Section 41-5. Designation of Official Depositories.
The banks and trust companies authorized for the deposit of monies up to the maximum
amounts are:
DEPOSITORY NAME MAXIMUM AMOUNT
JP Morgan Chase $30,000,000
Key Bank $30,000,000
M&T Bank $30,000,000
Mahopac National Bank $10,000,000
People’s United Bank $10,000,000
Putnam County National Bank $10,000,000
PCSB Commercial Bank subsidiary of PCSB $10,000,000
Signature Bank $10,000,000
TD Bank $30,000,000
Wells Fargo $10,000,000
Section 2.
This local law shall take effect im