507.2007
RESOLUTION AUTHORIZING WEST GLENS FALLS EMERGENCY
SQUAD, INC. TO TRANSFER PORTION OF UNUSED 2007 RESTRICTED
DEBT FUNDS TO OPERATIONS FUND AND USE REMAINING
UNUSED RESTRICTED DEBT FUNDS FOR
DEBT REDUCTION AND CONTINUED OPERATIONS
RESOLUTION NO.: 507, 2007
INTRODUCED BY: Mr. Richard Sanford
WHO MOVED FOR ITS ADOPTION
SECONDED BY: Mr. Tim Brewer
WHEREAS, the Town of Queensbury and West Glens Falls Emergency Squad, Inc. (Squad)
have entered into an Agreement for emergency services, which Agreement sets forth a number of terms
and conditions including a condition that the Squad will not transfer any leftover funds from one
budget line to any other budget line if those funds are to be used to reduce debt, without prior approval
of the Queensbury Town Board, and
WHEREAS, the Squad has advised the Town Board that it has approximately $39,783.28
unused funds in its Year 2007 restricted debt fund, which it does not anticipate to expend on debt
service in its entirety and has therefore requested Town Board authorization to apply $28,222 of such
unused restricted debt funds toward Year 2007 operations and the remaining approximate amount of
$11,561.00 in unused restricted debt funds toward debt reduction, and
WHEREAS, the Town Board wishes to provide such authorization in order to reduce the Fire
Company’s debt and ensure continued operations,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby approves of the West Glens Falls
Emergency Squad, Inc.’s transfer of $28,222 in unused restricted debt funds to its Year 2007
operations fund and apply the remaining $11,561.00± of unused restricted debt funds toward debt
reduction for debt currently held by Adirondack Trust Bank, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Supervisor and/or
Town Fiscal Manager to take any and all action necessary to effectuate the terms of this Resolution.
rd
Duly adopted this 3 day of December, 2007, by the following vote:
AYES : Mr. Brewer, Mr. Stec, Mr. Boor, Mr. Sanford, Mr. Strough
NOES : None
ABSENT:None