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FIRE&RESUTNorth Qhy Fire-Authorize Tax Exempt Financing to Pay for Trick After PH-7-3-17
RESOLUTION AUTHORIZING NORTH QUEENSBURY VOLUNTEER
FIRE COMPANY, INC.'S PURCHASE OF TANKER TRUCK
AND INCURRENCE OF TAX-FREE FINANCING/DEBT
FOR SUCH PURCHASE
RESOLUTION NO.: ,2017
INTRODUCED BY:
WHO MOVED FOR ITS ADOPTION
SECONDED BY:
WHEREAS, the Town of Queensbury and the North Queensbury Volunteer Fire Company,
Inc. (Fire Company)have entered into an Agreement for fire protection services,which Agreement sets
forth a number of terms and conditions including a condition that the Fire Company will not purchase
or enter into any binding contract to purchase any piece of apparatus, equipment, vehicles, real
property, or make any improvements that would require the Fire Company to acquire a loan or
mortgage or use money placed in a "vehicles fund" without prior approval of the Queensbury Town
Board, and
WHEREAS, the Fire Company advised the Town Board that it wishes to purchase a new
Rosenbauer Tanker Truck (Truck) to replace its 1987 Tanker Truck 429 for the approximate
purchase price not to exceed $374,070, such purchase already included in the Fire Company's five
(5) year capital plan that forecasts future capital needs and expenditures, including anticipated
vehicles, equipment, tools, other apparatus, facilities or improvements to facilities to be used for
firematic purposes, and
WHEREAS, the Fire Company plans on paying for the proposed,new Truck as follows:
1. Approximately$150,000 from Vehicle Reserve funds; and
2. Approximately$224,070 maximum amount of tax-exempt financing; and
WHEREAS, the Truck will be owned and used by the Fire Company to provide fire protection
to the Town and maintained at its firehouse located at 2663 Route 9L, Cleverdale in the Town of
Queensbury,New York, and
WHEREAS, on Monday, July 3rd, 2017, the Town Board duly held a public hearing
concerning the Fire Company's proposal and tax-exempt financing as required by the Fire
Company's Agreement with the Town and the Internal Revenue Code, and heard all interested
persons, and
WHEREAS, the Town Board believes that this new Truck will provide additional safety
protection for the Town while eliminating an aging apparatus from the Fire Company's fleet, and
therefore wishes to adopt a Resolution authorizing such Truck purchase and the Fire Company's
corresponding incurrence of tax-exempt debt,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby approves of and authorizes the
North Queensbury Volunteer Fire Company, Inc.'s proposal to purchase a new Rosenbauer Tanker
Truck (Truck) to replace its 1987 Tanker Truck 429 as set forth in the preambles of this Resolution
for an amount not to exceed $374,070, such purchase already included in the Fire Company's five
(5) year capital plan that forecasts future capital needs and expenditures, including anticipated
vehicles, equipment, tools, other apparatus, facilities or improvements to facilities to be used for
firematic purposes, and
BE IT FURTHER,
RESOLVED, that the Town Board further approves of and authorizes the Fire
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Company's incurrence of approximately $224,070 maximum amount of tax-exempt financing for
such purchase, with the understanding that the Town Board is relying upon the Fire Company's
assurance that the Truck is serviceable and suitable for its long-term intended use, and
BE IT FURTHER,
RESOLVED, that the Town of Queensbury does not guarantee such debt with a financial
institution on behalf of the Fire Company nor does the Town Board create or intend to create any
assumption on the part of the Town of Queensbury of any obligation or liability for the financing,
and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Supervisor
and/or Town Budget Officer to take any action necessary to effectuate all terms of this
Resolution.
Duly adopted this 3rd day of July, 2017 by the following vote:
AYES
NOES
ABSENT:
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