333.2001
RESOLUTION AUTHORIZING ENGAGEMENT OF ENVIRONMENTAL
CAPITAL LLC TO PROVIDE FINANCIAL ADVISORY SERVICES IN
CONNECTION WITH PROPOSED CREATION OF SOUTH QUEENSBURY
– QUEENSBURY AVENUE SEWER DISTRICT
RESOLUTION NO.: 333, 2001
INTRODUCED BY: Mr. Daniel Stec
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. James Martin
WHEREAS, the Queensbury Town Board wishes to engage the services of Environmental
Capital LLC to provide financial advisory services in connection with the Town’s borrowing from the
Environmental Facilities Corporation (EFC) for the Town’s proposal to create the South Queensbury –
Queensbury Avenue Sewer District, and
WHEREAS, Environmental Capital LLC has offered to render these services for the amount of
$15,000 contingent upon the successful completion of the financing, plus traditional reimbursable
expenses provided that such cost shall be decreased to $9,500 if such financing closes within 30 days of
the financing for the Route 9 Sewer District financing, and
WHEREAS, the Town Comptroller recommends engagement of Environmental Capital LLC
to provide these services, and
WHEREAS, a copy of Environmental Capital LLC’s agreement dated July 19, 2001 has been
presented at this meeting and is in form approved by Town Counsel,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby authorizes engagement of
Environmental Capital LLC to provide financial advisory services as referenced above for an amount
not to exceed $15,000, plus reimbursement for its reasonably incurred expenses to be approved in
advance by the Town Comptroller, with the agreement to provide that if this financing is within 30
days of the Town’s Route 9 Sewer Project financing, the cost shall be $9,500 instead of $15,000, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Supervisor to
execute the agreement presented at this meeting and take any action necessary to effectuate the terms
of this Resolution, and
BE IT FURTHER,
RESOLVED, that the payment for the financial advisory services shall be paid at or after the
loan closing and shall be charged to the Capital Project for the District Creation which will be
established by the Town Board when it approves engineering reports.
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Duly adopted this 20 day of August, 2001 by the following vote:
AYES : Mr. Brewer, Mr. Brower, Mr. Martin, Mr. Turner, Mr. Stec
NOES : None
ABSENT: None