421.96
RESOLUTION AUTHORIZING WITHDRAWAL OF ESCROW FUNDS
CONCERNING HUNTER BROOK LANE
IN THE CROSS ROADS PARK SUBDIVISION
RESOLUTION NO.: 421,96
INTRODUCED BY: Mrs. Carol Pulver
WHO MOVED FOR ITS ADOPTION
SECONDED BY: Mr. Fred Champagne
WHEREAS, the Town Board of the Town of Queensbury, by
resolution no. 341, 94 authorized the acceptance of Hunter Brook
Lane in the Cross Roads Park Subdivision, with the exception of the
final blacktop surface as per an Agreement between the Town of
Queensbury and Bay Associates dated June 15, 1994, and
WHEREAS, the Town Board of the Town of Queensbury, at the time
of acceptance, also authorized the retention of $6,000 escrow funds
to be retained by the Town until either June 20, 1996 or such time
as the final blacktop surface was complete by Bay Associates, and
WHEREAS, June 20, 1996 has passed and Bay Associates has
failed to complete the top coat thereby defaulting on the June 15,
1994 Agreement, and
WHEREAS, according to paragraph 2 of the Agreement, the Town
of Queensbury may expend such escrow funds as necessary to complete
the asphalt surfacing of the road, and
WHEREAS, the Town Highway Superintendent has advised that he
can perform the final blacktop surfacing utilizing the escrow funds
currently held by the Town,
NOW, THEREFORE, BE IT
RESOLVED, that the Town Board of the Town of Queensbury hereby
authorizes the withdrawal of the sum equal to the costs expended by
the Town Highway Superintendent for the final surfacing of the road
from the Bay Associates Escrow Account, and
BE IT FURTHER,
RESOLVED, that the estimated revenues in the Highway
Department Account, Forfeiture of Deposits, will be increased and
appropriations in the Town Highway Paving Materials and
Miscellaneous Payroll Accounts will be increased to cover
associated costs as determined by the Town Comptroller's Office in
conjunction with the Town Highway Department.
Duly adopted this 21st day of October, 1996, by the following
vote:
AYES : Mr. Turner, Mrs. Goedert, Mrs. Pulver, Mrs. Monahan, Mr.
Champagne
NOES : None
ABSENT: None