384.2023 Setting PH - Bay Ridge Vol Fire Co - Purchase of 2025 Engine Tanker - Tax-Exempt Financing RESOLUTION SETTING PUBLIC HEARING ON BAY RIDGE
VOLUNTEER FIRE CO., INC.'S PROPOSAL TO PURCHASE NEW 2025
ENGINE TANKER AND USE OF TAX-EXEMPT FINANCING
RESOLUTION NO.: 384,2023
INTRODUCED BY: Mr. Harrison Freer
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. George Ferone
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 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, the Town Board wishes to set a public hearing concerning the Fire Company's
proposed Tanker purchase, as Town Board approval is required by the Fire Company's Agreement
with the Town, and the proposed tax-exempt financing requires a public hearing under the Internal
Revenue Code, and
WHEREAS, the Fire Company will own and use the Tanker to provide fire protection to the
Town and will maintain the Tanker at its firehouse located at 1080 Bay Road in the Town,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board shall conduct a public hearing concerning Bay
Ridge Volunteer Fire Co., Inc.'s proposed Tanker purchase delineated in the preambles of this
Resolution and the financing of the Tanker using tax-exempt financing, on Monday, December 4t",
2023 at 7:00 p.m., and
BE IT FURTHER,
RESOLVED, that the Town Board hereby authorizes and directs the Queensbury Town Clerk
to publish a Notice of Public Hearing in the Post-Star Newspaper once at least fourteen(14) days prior
to the Public Hearing.
Duly adopted this 6t'day of November, 2023,by the following vote:
AYES Mr. Ferone, Mr. McNulty, Mr. Strough, Mr. Freer
NOES None
ABSENT: Mr. Metivier