152.2001
RESOLUTION APPROVING PURCHASE OF 2001 SAULSBURY PUMPER
BY NORTH QUEENSBURY VOLUNTEER FIRE CO., INC.
RESOLUTION NO.: 152, 2001
INTRODUCED BY: Mr. James Martin
WHO MOVED FOR ITS ADOPTION
SECONDED BY: Mr. Theodore Turner
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 wishes to replace its 1976 Pumper and purchase one (1) 2001
Saulsbury Pumper Truck for the approximate total sum of $270,000, and
WHEREAS, the Fire Company plans on selling its 1976 Pumper with the proceeds being
deposited back into the restricted vehicle fund, and
WHEREAS, the Fire Company plans to use the balance of its restricted vehicle fund estimated
to total approximately $160,000 at the time of delivery and enter into a Purchase Lease Agreement
with Evergreen Bank for the balance of approximately $110,000 at 70% of the Federal Home Bank
Rate plus 2%, and
nd
WHEREAS, on April 2, 2001, the Town Board held a public hearing, heard all interested
persons and the Town wishes to facilitate the financing on behalf of the Fire Company,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby approves of the purchase of one (1)
2001 Saulsbury Pumper for the approximate sum of $270,000 by the North Queensbury Volunteer
Fire Company, Inc., with the understanding that the Fire Company will deposit its proceeds from the
sale of its 1976 Pumper in its restricted vehicle fund and use the balance of the restricted vehicle fund
estimated to total approximately $160,000 and enter into a Purchase Lease Agreement for a term of
five (5) years for the balance of approximately $110,000 at an interest rate appropriate to the tax-
exempt status of the Fire Company, and
BE IT FURTHER,
RESOLVED, that the Town Board hereby approves the incurring on the part of the North
Queensbury Volunteer Fire Company, Inc. of financial obligations in the maximum, aggregate principal
amount of $110,000 for the five (5) year term, provided, however, that the Town Board shall not and
does not by this Resolution create or intend to create any assumption on the part of the Town of
Queensbury of any obligation or liability for the financing.
nd
Duly adopted this 2 day of April, 2001 by the following vote:
AYES : Mr. Brewer, Mr. Brower, Mr. Martin, Mr. Turner
NOES : None
ABSENT: Mr. Stec