045.2011 Proj. Fund 177
RESOLUTION AUTHORIZING INCREASE IN CAPITAL PROJECT
FUND - HOMER AVENUE/QUAKER ROAD
DRAINAGE PROJECT FUND #177
RESOLUTION NO.: 045, 2011
INTRODUCED BY: Mr. Ronald Montesi
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Anthony Metivier
WHEREAS, by Resolution No.: 270, 2010, the Queensbury Town Board authorized an
Agreement with Time Warner Cable, Minogue’s Beverage Center and Tire Warehouse
(“Agreement”) to undertake a Project to cooperatively abandon the existing drainage pipes
between Homer Avenue and Quaker Road and install a new drainage pipe to conduct streamwater
and runoff to the drainage culvert in the County’s right-of-way adjacent to Quaker Road, and
WHEREAS, by such Resolution the Town Board also authorized the withdrawal of
$150,000 from Capital Reserve Fund #64, and appropriately established a Capital Project Fund
known as the “Homer Avenue/Quaker Road Drainage Project Fund #177,” which Fund
established funding for expenses associated with the Project and established initial appropriations
and estimated revenues for Capital Project Fund #177 in the amount of $150,000 to be funded
from Capital Reserve Fund #64, and
WHEREAS, the Agreement provides that Time Warner, Minogue’s and Tire Warehouse
will reimburse a portion of the total Project expenses, and such expenses are $159,473.40, which
is $9,473.40 higher than the estimated amount of $150,000, and
WHEREAS, the Town Board therefore wishes to revise the initial appropriations and
estimated revenues by such increase in expenses and revenues,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby authorizes and directs the Town
Budget Officer to revise the appropriations and estimated revenues for Capital Project Fund #177
by the $9,473.40 increase in expenses, and
BE IT FURTHER,
RESOLVED, that the Town Board also authorizes and directs the establishment of:
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Revenue Account #177-0005-1989 – Other Economic Assistance and
Opportunity Income – $108,489.41; and
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Interest Revenue Account #177-0000-52401 - $3,519.26, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs that, if needed, the
General Fund can loan Capital Project Fund #177 funds until the Town receives funds from Time
Warner, Minogue’s and the Tire Warehouse, and
BE IT FURTHER,
RESOLVED, that the Town Board authorizes and directs the Town Budget Officer to
amend the 2010 Town Budget, make any adjustments, budget amendments, transfers or prepare
any documentation necessary to revise such appropriations and estimated revenues and effectuate
all terms of this Resolution.
rd
Duly adopted this 3 day of January, 2011 by the following vote:
AYES : Mr. Montesi, Mr. Strough, Mr. Brewer, Mr. Stec, Mr. Metivier
NOES : None
ABSENT: None
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