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FIRE AND RESCUE\WGF EMS-Ambulance Purchase and Authorizing Incurrence of IRS Tax Exempt Financing—10-17-2022
RESOLUTION AUTHORIZING WEST GLENS FALLS EMERGENCY
SQUAD, INC.'S PROPOSAL TO PURCHASE AMBULANCE AND
AUTHORIZING INCURRENCE OF TAX-EXEMPT FINANCING/
DEBT FOR SUCH PURCHASE
RESOLUTION NO.: ,2022
INTRODUCED BY:
WHO MOVED FOR ITS ADOPTION
SECONDED BY:
WHEREAS, in accordance with New York State Public Health Law Article 30, the Town of
Queensbury and the West Glens Falls Emergency Squad, Inc. (Squad) have entered into an
Agreement for general emergency ambulance services within the Town,which Agreement sets forth a
number of terms and conditions, including a condition that the Squad 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 Squad to acquire a loan or mortgage without prior approval
of the Queensbury Town Board, and
WHEREAS, by Resolution No.: 46, 2020 the Town Board authorized the Squad to purchase
an ambulance but the Squad did not end up purchasing such ambulance due to COVID-19 related
delays in manufacturing, and
WHEREAS, the Squad has advised the Town Board that it now wishes to sell its 2016
ambulance 711 for fair market value and purchase a 2022 Chevy K-3500 Chassis Ambulance at a
purchase price not to exceed $186,998, and
WHEREAS, the Ambulance will be owned and used by the Squad to provide general
emergency ambulance services to the Town and maintained at the Squad's building located at 86
Luzerne Road in the Town of Queensbury,New York, and
WHEREAS,the Squad plans on paying for the proposed,new Ambulance by using:
1. $ 51,998 —cash down-payment from its current budget (including proceeds from the
fair market value sale of its 2016 Ambulance); and
2. $ 135,000 maximum amount of financing at a tax-exempt interest rate of 4.3% fixed
for 60 months with the Adirondack Trust Company; and
WHEREAS, Town Board approval of this proposed purchase is required by the Squad's
Agreement with the Town, and the proposed tax-exempt financing requires a public hearing under the
Internal Revenue Code, and
WHEREAS, on Monday, October 17th, 2022, the Town Board held a public hearing
concerning the Squad's proposed purchase and tax-exempt financing as required by the Squad's
Agreement with the Town and the Internal Revenue Code and heard all interested persons, and
WHEREAS, the Town Board believes that this new Ambulance will provide additional safety
protection for the Town and also believes it to be necessary, financially beneficial and in the public
interest to consider such financing, and
WHEREAS, the Town Board therefore wishes to adopt a Resolution authorizing such
Ambulance purchase and the Squad's corresponding incurrence of tax-exempt debt and financing,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby approves of the West Glens Falls
Emergency Squad, Inc.'s proposal to purchase a 2022 Chevy K-3500 Chassis Ambulance at a
purchase price not to exceed $186,998 as set forth in the preambles of this Resolution, and
BE IT FURTHER,
RESOLVED, that the Town Board further approves of the Squad's incurrence of
approximately $135,000 maximum amount in debt for such purchase with the understanding that the
Town Board is relying upon the Squad's assurance that the Ambulance is serviceable and suitable for
its long-term intended use, and approves of the tax-exempt financing with the Adirondack Trust
Company for the purpose of purchasing the new Ambulance and associated equipment, with such tax-
exempt financing having a tax-exempt interest rate of 4.3% fixed for 60 months, and
BE IT FURTHER,
RESOLVED, that the Town of Queensbury does not guarantee such debt with the
financial institution on behalf of the Squad nor does the Town Board create or intend to create
any assumption on the part of the Town of Queensbury of any obligation or liability for the
financing, and
BE IT FURTHER,
RESOLVED, that the Town Board authorizes and directs the Town Supervisor and/or Budget
Officer to take any actions necessary to effectuate the terms of this Resolution.
Duly adopted this 17t'day of October, 2022 by the following vote:
AYES
NOES
ABSENT: