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363.2014 Transfer General Fund Balance Capital Reserve 64 RESOLUTION AUTHORIZING TRANSFER OF FUNDS FROM UNDESIGNATED GENERAL FUND BALANCE TO REPLENISH CAPITAL RESERVE FUND #64 RESOLUTION NO.: 363,2014 INTRODUCED BY: Mr.William VanNess WHO MOVED ITS ADOPTION SECONDED BY: Mr. Doug Irish WHEREAS, by Resolution No.: 322 of 2001, the Queensbury Town Board established a Capital Reserve Fund for the purpose of capitalization of the Town's Capital Improvement Plan Policy or for future Town project developments, known as Capital Reserve Fund #64 (Fund #64) which Fund established fund expenditures associated with the CIP, and WHEREAS, the Town Budget Officer has recommended that the Town Board transfer $1.2 million from the Town's undesignated, unassigned Fund Balance to Fund #64 in order to fund future capital projects, and WHEREAS, the Town Board therefore wishes to authorize the Town Budget Officer to replenish Fund #64 by appropriating $1.2 million of undesignated, unassigned Fund Balance and transfer such amount to the Capital Reserve#64, NOW, THEREFORE, BE IT RESOLVED, that the Queensbury Town Board authorizes and directs the Town Budget Officer to transfer $1.2 million from the Town's undesignated, unassigned Fund Balance to the Capital Improvement Plan Reserve Fund #64 and make any adjustments, budget amendments, transfers or prepare any documentation necessary to establish appropriations and estimated revenues and take all other actions necessary to effectuate the terms of this Resolution. Duly adopted this 20th day of October, 2014, by the following vote: AYES: Mr. Metivier, Mr. Clements, Mr. Irish, Mr. VanNess, Mr. Strough NOES: None ABSENT: None 2