NOTICE IS HEREBY GIVEN that a public hearing will be held before the County Executive of the County of Putnam at Room 300 of the County Office Building, 40 Gleneida Avenue, Carmel, New York 10512 on the 25th day of August, 2021 at 3:30 in the afternoon, and again at 6:30 in the evening concerning:

A LOCAL LAW

Amending Chapter 41 of the Code of Putnam County entitled “Deposit & Investment Policy”, as adopted by the Putnam County Legislature on August 3, 2021 by Resolution R#158.

This Local Law amends Section 41-5 by amending the list of banks and trust companies designated as official depositories and authorized for the deposit of monies by increasing the maximum deposit amount for JP Morgan Chase Bank NA, Key Bank, M&T Bank, TD Bank and Webster Bank from $30,000,000 to $40,000,000; Tompkins Mahopac National Bank and PCSB Commercial Bank subsidiary of PCSB from $20,000,000 to $30,000,000; People’s United Bank NA and Sterling Bank from $10,000,000 to $20,000,000; and Signature Bank and Wells Fargo Bank from $10,000,000 to $40,000,000; and by amending Section 41-10(A)(2)(a) to read as follows: New York Liquid Asset Fund (NYLAF) – PMA Financial Network, LLC.

Copies of the Local Law are available at the Office of the Putnam County Legislature, Room 313, 40 Gleneida Avenue, Carmel, New York 10512.

At the aforesaid time and place all persons interested in the subject matter thereof will be heard concerning same.  Comments will also be accepted via regular mail submitted to the above referenced address, electronic mail to This email address is being protected from spambots. You need JavaScript enabled to view it.,  and facsimile to (845) 808-1901.

This Local Law shall take effect immediately upon its filing with the Secretary of State.

Dated: Carmel, New York

August 6, 2021

Jennifer S. Bumgarner

Putnam County Attorney