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FIRE&RESCUE\Bay Ridge Fire-Approve Tax Exempt Financing to for Rescue Truck After PH-12-17-12
RESOLUTION APPROVING BAY RIDGE VOLUNTEER FIRE COMPANY,
INC.'S PROPOSAL TO PURCHASE TRUCK AND AUTHORIZING
INCURRENCE OF TAX-FREE FINANCING/DEBT
FOR SUCH PURCHASE
RESOLUTION NO.: , 2012
INTRODUCED BY:
WHO MOVED FOR ITS ADOPTION
SECONDED BY:
WHEREAS, the Town of Queensbury and the Bay Ridge Volunteer Fire Company, Inc. (Fire
Company) have entered into an Agreement for fire protection services, which Agreement sets forth a
number of terms and conditions including a condition that the Fire Company 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 Fire Company to acquire a loan or mortgage or use
money placed in a"vehicles fund"without prior approval of the Queensbury Town Board, and
WHEREAS, the Fire Company advised the Town Board that it wishes to purchase a new
2013 Rosenbauer Rescue Apparatus (Truck) to replace one of its current apparatus, as previously
recommended by the 2009 Fire Study Report issued for the Town by MMA Consulting Group,
Inc., for the approximate purchase price not to exceed $156,000, such purchase already included
in the Fire Company's five (5) year capital plan that forecasts future capital needs and
expenditures, including anticipated vehicles, equipment, tools, other apparatus, facilities or
improvements to facilities to be used for firematic purposes, and
WHEREAS, the Fire Company hopes to take advantage of a pre-pay discount which would
lower the amount due and amount borrowed, and
WHEREAS, proceeds from the sales of the Fire Company's replaced apparatus would be
placed either: 1) against the principal of the new, proposed Truck; and/or 2) toward other Fire
Company debt; and
WHEREAS, once the new Truck is placed into service, the Fire Company will remove the
replaced apparatus from service and sell it, and will sell it after all potential warranty/service issues are
resolved with the new Truck, and
WHEREAS, the Fire Company plans on paying for the proposed,new Truck as follows:
1. $26,000 down payment from the Fire Company fundraising proceeds;
2. Approximately $130,000 maximum amount of tax-exempt financing (having a 10 year
term)with a financial institution;
and
WHEREAS, the Town Board wishes to set a public hearing concerning the Fire Company's
proposed purchase, as Town Board approval of such proposed purchase is required by the Fire
Company's Agreement with the Town, and such proposed tax-exempt financing requires a public
hearing under the Internal Revenue Code, and
WHEREAS, the Truck will be owned and used by the Fire Company to provide fire protection
to the Town and maintained at its firehouse located at 1080 Bay Road in the Town of Queensbury,
New York, and
WHEREAS, on Monday, December 17th, 2012, the Town Board held a public hearing
concerning the Fire Company's proposal and tax-exempt financing as required by the Fire
Company's Agreement with the Town and the Internal Revenue Code, and heard all interested
persons, and
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WHEREAS, the Town Board believes that this new Truck will provide additional safety
protection for the Town while eliminating an aging apparatus from the Fire Company's fleet and
wishes to abide by the recommendations of MMA Consulting Group, Inc., and
WHEREAS, the Town Board therefore wishes to adopt a Resolution authorizing such
Truck purchase and the Fire Company's corresponding incurrence of tax-exempt debt,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby approves of the Bay Ridge
Volunteer Fire Company, Inc.'s proposal to purchase a new 2013 Rosenbauer Rescue Apparatus
(Truck) to replace one of its current apparatus as set forth in the preambles of this Resolution for an
amount not to exceed $156,000, such purchase already included in the Fire Company's five (5)
year capital plan that forecasts future capital needs and expenditures, including anticipated
vehicles, equipment, tools, other apparatus, facilities or improvements to facilities to be used for
firematic purposes, and
BE IT FURTHER,
RESOLVED, that the Town Board further approves of the Fire Company's incurrence of
approximately $130,000 maximum amount in debt for such purchase with the understanding that the
Town Board is relying upon the Fire Company's assurance that the Truck is serviceable and suitable
for its long-term intended use, and
BE IT FURTHER,
RESOLVED, that the Town of Queensbury does not guarantee such debt with the
financial institution on behalf of the Fire Company 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
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financing, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Supervisor
and/or Town Budget Officer to take any action necessary to effectuate all terms of this
Resolution.
Duly adopted this l7t'day of December, 2012 by the following vote:
AYES
NOES
ABSENT:
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