332.92
RESOLUTION CONCERNING SETTLEMENT OF AMOUNTS DUE UNDER AGREEMENT
BETWEEN THE TOWN OF QUEENSBURY AND BGH ENTERPRISES AND
THOMAS J. FARONE AND SON, INC.
RESOLUTION NO.: 332, 92
INTRODUCED BY: Mr. Michel Brandt
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Pliney Tucker
WHEREAS, during February of 1987 an agreement was entered into
between the Town of Queensbury and BGH Enterprises and Thomas J.
Farone and Son, Inc., a copy of the same as amended being presented
at this meeting, whereby certain amounts were agreed to be paid by
BGH Enterprises and Thomas J. Farone and Son, Inc., in connection
with the establishment of the Peggy Ann Water District, and
WHEREAS, BGH Enterprises and Thomas J. Farone and Son, Inc.
paid certain amounts due thereunder, including an investment fee
for 1987, as due under the agreement, but thereafter, bills were
not rendered and payments were not made on further sums owed by
BGH Enterprises and Thomas J. Farone and Son, Inc., for investment
fees owed under the agreement, due to difficulties with
interpretation of the agreement as to amounts owed, and
WHEREAS, the Town Attorney for the Town of Queensbury, working
with outside counsel, has reviewed the agreement and has presented
the Town Board with calculations and amounts that can be determined
as being owed under the terms and provisions of the agreement, and
WHEREAS, the Town Board of the Town of Queensbury has reviewed
this matter with the Town Attorney and has determined that the
appropriate sum to be paid by the developer to settle claims
against the developer as a result of the agreement, would be
$37,386.10, and
WHEREAS, the developer has agreed to make this payment,
NOW, THEREFORE, BE IT
RESOLVED, that the Town Board of the Town of Queensbury hereby
authorizes settlement of the claims against the developers in the
amount of $37,386.10, and further authorizes the Town Supervisor to
execute any other documents that may be necessary to indicate that
the Town's claims under the agreement have been satisfied insofar
as they relate to BGH Enterprises and Thomas J. Farone and Son,
Inc., and
BE IT FURTHER,
RESOLVED, that moneys collected pursuant to the agreement
shall be paid into the appropriate Queensbury Consolidated Water
District Accounts.
Duly adopted this 15th day of June, 1992, by the following
vote:
AYES: Mrs. Goetz, Mr. Caimano, Mr. Tucker, Mrs. Monahan, Mr.
Brandt
NOES: None
ABSENT:None