005.2017 Approving Queensbury Central Volunteer Truck Purchase RESOLUTION APPROVING QUEENSBURY CENTRAL VOLUNTEER
FIRE COMPANY, INC.'S PROPOSAL TO PURCHASE TRUCK
AND AUTHORIZING INCURRENCE OF TAX-FREE
FINANCING/DEBT FOR SUCH PURCHASE
RESOLUTION NO.: 5,2017
INTRODUCED BY: Mr. Doug Irish
WHO MOVED FOR ITS ADOPTION
SECONDED BY: Mr.William VanNess
WHEREAS, the Town of Queensbury and the Queensbury Central 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
2016/2017 Pierce Engine Rescue Apparatus (Truck) along with associated accessories (tools,
hose and other miscellaneous tools) to replace a 1991 Engine Rescue for the approximate
purchase price not to exceed $788,000, 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, proceeds from the trade-in or sale of the Fire Company's replaced apparatus
would be placed against the principal of the new,proposed Truck, and
WHEREAS, the Fire Company plans on paying for the proposed,new Truck as follows:
1. $63,000 from trade-in/sale of replaced apparatus and/or funds currently budgeted in the
current Fire Company Agreement;
2. $225,000 from Vehicle Reserve funds; and
3. Approximately $500,000 maximum amount of tax-exempt financing having a 15 year
term with Glens Falls National Bank and Trust Company; 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 17 Lafayette Street in the Town of Queensbury,
New York, and
WHEREAS, on Monday, January 9t'', 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 the Queensbury
Central Volunteer Fire Company, Inc.'s proposal to purchase a new 2016/2017 Pierce Engine
Rescue Apparatus (Truck) along with associated accessories to replace a 1991 Engine Rescue as
set forth in the preambles of this Resolution for an amount not to exceed $788,000, 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,
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RESOLVED, that the Town Board further approves of the Fire Company's incurrence of
approximately $500,000 maximum amount of tax-exempt financing having a 15 year term with Glens
Falls National Bank and Trust Company 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 the
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 9ffi day of January, 2017 by the following vote:
AYES Mr. Strough, Mr. Metivier, Mr. Irish, Mr. VanNess
NOES None
ABSENT: Mr. Clements
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