475.2006
RESOLUTION AUTHORIZING ESTABLISHMENT OF CAPITAL
RESERVE FUND NO.: 66 FOR CONSTRUCTION/RECONSTRUCTION OF
TOWN-WIDE DRAINAGE
RESOLUTION NO.: 475, 2006
INTRODUCED BY: Mr. Tim Brewer
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. John Strough
WHEREAS, the Queensbury Town Board wishes to establish a Capital Reserve Fund for
Town-Wide drainage in accordance with New York State General Municipal Law §6(c), and
WHEREAS, the Town Board duly conducted a public hearing concerning the
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establishment of such Capital Reserve Fund on Monday, October 16, 2006,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby authorizes and directs the
establishment of a Capital Reserve Fund for the purpose of construction/reconstruction of Town-
Wide Drainage as follows:
1.The Capital Reserve Fund shall be known as “Town-Wide Drainage Fund #66”
which Fund will establish fund expenditures for construction/reconstruction of
Town-Wide Drainage;
2.Initial Funding for the Town-Wide Drainage Reserve Fund #66 shall be by a transfer
of unexpended funds from the Ward I Drainage Reserve Fund; and
3.No transfers shall be made from Town-Wide Drainage Reserve Fund #66 except by
Town Board Resolution in accordance with General Municipal Law §6(c); and
BE IT FURTHER,
RESOLVED, that the Town Board hereby authorizes and directs the Town Accounting
Office to establish Town-Wide Drainage Reserve Fund #66 in accordance with General Municipal
Law §6(c), transfer funds, amend the 2006 Town Budget and take such other and further action
necessary to effectuate the terms and provisions of this Resolution.
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Duly adopted this 16 day of October, 2006, by the following vote:
AYES : Mr. Brewer, Mr. Stec, Mr. Boor, Mr. Sanford, Mr. Strough
NOES : None
ABSENT: None