1.1 1.1
FIRE&RESCUE\Bay Ridge Fire Approve Truck Engine Tanker Purchase and Tax Exempt IRS Financing Loan After PH-12-4-2023
RESOLUTION APPROVING BAY RIDGE VOLUNTEER FIRE CO., INC.'S
PURCHASE OF NEW 2025 ENGINE TANKER AND AUTHORIZING
INCURRENCE OF TAX-FREE FINANCING FOR SUCH PURCHASE
RESOLUTION NO.: ,2023
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 Town Board, and
WHEREAS, the Fire Company has advised the Town Board that it wishes to purchase a
new 2025 Rosenbauer Engine Tanker (Tanker) for a purchase price not to exceed $1,299,000 to
replace its 2004 American LaFrance Engine Tanker 324, such proposed purchase 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 proposes paying for the Tanker by using a maximum amount
of$1,299,000 in tax-exempt financing with the Adirondack Trust Company, and
WHEREAS, proceeds from the Fire Company's sale of Engine Tanker 324 will be placed
against the principal of the new,proposed Tanker and/or toward other Fire Company debt, and
WHEREAS, once the new Tanker is placed into service,the Fire Company will remove Engine
Tanker 324 from service and sell it after all potential warranty/service issues are resolved with the new
Tanker, and
WHEREAS, 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, on Monday, December 4th, 2023, the Town Board held such public hearing
and duly heard all interested persons, and
WHEREAS, the Town Board believes that this new Tanker will provide additional safety
protection for the Town while eliminating an aging Engine Tanker from the Fire Company's fleet and
therefore the Town Board wishes to adopt a Resolution authorizing such Tanker purchase and the
Fire Company's 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 purchase of a 2025 Rosenbauer Engine Tanker Truck (Tanker) to
replace its 2004 American LaFrance Engine Tanker 324 for a sum not to exceed$1,299,000, and
BE IT FURTHER,
RESOLVED, that the Town Board further approves of the Fire Company's incurrence of
up to $1,299,000 maximum amount in debt/tax-exempt financing for such purchase for up to a 15
year term with the Adirondack Trust Company with the understanding that the Town Board is relying
upon the Fire Company's assurance that the Tanker is serviceable and suitable for its long-term
intended use, and
2
BE IT FURTHER,
RESOLVED, that the Town of Queensbury does not guarantee such debt with the
Adirondack Trust Company 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 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 all actions necessary to effectuate the terms of this Resolution.
Duly adopted this 4t'day of December, 2023 by the following vote:
AYES
NOES
ABSENT:
3