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FIRE&RESCUE\WGF EMS—Approve Tax Exempt Refinancing to Pay for Ambulance After PH-8-7-17
RESOLUTION AUTHORIZING WEST GLENS FALLS EMERGENCY
SQUAD, INC.'S PROPOSAL TO PURCHASE AMBULANCE
AND AUTHORIZING INCURRENCE OF TAX-EXEMPT
FINANCING/DEBT FOR SUCH PURCHASE
RESOLUTION NO.: ,2017
INTRODUCED BY:
WHO MOVED FOR ITS ADOPTION
SECONDED BY:
WHEREAS, in accordance with New York State Public Health Law Article 30, the Town of
Queensbury and the West Glens Falls Emergency Squad, Inc. (Squad) have entered into an
Agreement for general emergency ambulance services within the Town,which Agreement sets forth a
number of terms and conditions, including a condition that the Squad 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 Squad to acquire a loan or mortgage without prior approval
of the Queensbury Town Board, and
WHEREAS, the Squad advised the Town Board that it wishes to trade-in one of its older
ambulances and purchase a new 2017 Chevy K-3500 Ambulance at a purchase price not to
exceed $169,500, and
WHEREAS, the trade-in value of the ambulance being replaced will be $10,000, bringing the
new ambulance's purchase price down to $159,500, and
WHEREAS, the Ambulance will be owned and used by the Squad to provide general
emergency ambulance services to the Town and maintained at the Squad's building located at 86
Luzerne Road in the Town of Queensbury,New York, and
WHEREAS, the Squad plans on paying for the proposed,new Ambulance by using:
1. $25,00 from donations to the Squad;
2. $44,500 from the Squad's current budget; and
3. $90,000 maximum amount of tax-exempt financing having a five to seven year term
with the Adirondack Trust Company; and
WHEREAS, Town Board approval of such proposed purchase is required by the Squad's
Agreement with the Town, and such proposed tax-exempt financing requires a public hearing under the
Internal Revenue Code, and
WHEREAS, on Monday, August 7t'', 2017, the Town Board held a public hearing
concerning the Squad's proposed purchase and tax-exempt financing as required by the Squad's
Agreement with the Town and the Internal Revenue Code and heard all interested persons, and
WHEREAS, the Town Board believes that this new Ambulance will provide additional safety
protection for the Town and also believes it to be necessary, financially beneficial and in the public
interest to consider such financing, and
WHEREAS, the Town Board therefore wishes to adopt a Resolution authorizing such
Ambulance purchase and the Squad's corresponding incurrence of tax-exempt debt and financing,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby approves of the West Glens Falls
Emergency Squad, Inc.'s proposal to purchase a new 2017 Chevy K-3500 Ambulance as set forth
in the preambles of this Resolution for an amount not to exceed $169,500, and
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BE IT FURTHER,
RESOLVED, that the Town Board further approves of the Squad's incurrence of$90,000
maximum amount in debt for such purchase with the understanding that the Town Board is relying
upon the Squad's assurance that the Ambulance is serviceable and suitable for its long-term intended
use, and approves of the tax-exempt financing with the Adirondack Trust Company for the purpose of
purchasing the new Ambulance and associated equipment, with such tax-exempt financing having a
five to seven year term, and
BE IT FURTHER,
RESOLVED, that the Town of Queensbury does not guarantee such debt with the
financial institution on behalf of the Squad 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 authorizes and directs the Town Supervisor and/or Budget
Officer to take any actions necessary to effectuate the terms of this Resolution.
Duly adopted this 7ffi day of August, 2017 by the following vote:
AYES
NOES
ABSENT:
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