Loading...
2.1 2.1 FIRE & RESCUE\\WGF EMS – Approve Tax Exempt Refinancing to Pay for Ambulance After PH - 1-13-20 RESOLUTION AUTHORIZING WEST GLENS FALLS EMERGENCY SQUAD, INC.’S PROPOSAL TO PURCHASE AMBULANCE AND AUTHORIZING INCURRENCE OF TAX-EXEMPT FINANCING/ DEBT FOR SUCH PURCHASE RESOLUTION NO.: _______________________________________________________, 2020 INTRODUCED BY: _______________________________________________________ WHO MOVED FOR ITS ADOPTION SECONDED BY: _________________________________________________________ WHEREAS, in accordance with New York State Public Health Law Article 30, the Town of Queensbury and the West Glens Falls Emergency Squad, Inc. (Squad) have entered into an Agreement for general emergency ambulance services within the Town, which Agreement sets forth a number of terms and conditions, including a condition that the Squad 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 Squad to acquire a loan or mortgage without prior approval of the Queensbury Town Board, and WHEREAS, the Squad advised the Town Board that the Squad wishes to trade-in its 2010 ambulance 710 and purchase a 2019 Chevy K-3500 Chassis Ambulance with a Demers MXP-150 Conversion Box at a purchase price not to exceed $186,998, and WHEREAS, the trade-in value of the ambulance being replaced will be $10,000, bringing the new ambulance’s purchase price down to $176,998, and WHEREAS, the Ambulance will be owned and used by the Squad to provide general emergency ambulance services to the Town and maintained at the Squad’s building located at 86 Luzerne Road in the Town of Queensbury, New York, and WHEREAS, the Squad plans on paying for the proposed, new Ambulance by using: 1. $ 30,000 – cash down payment from its current budget; and 2. $146,998 maximum amount of tax-exempt financing having a 72 month term with the Adirondack Trust Company; and WHEREAS, Town Board approval of this proposed purchase is required by the Squad’s Agreement with the Town, and the proposed tax-exempt financing requires a public hearing under the Internal Revenue Code, and th WHEREAS, on Monday, January 13, 2020, the Town Board held a public hearing concerning the Squad’s proposed purchase and tax-exempt financing as required by the Squad’s Agreement with the Town and the Internal Revenue Code and heard all interested persons, and WHEREAS, the Town Board believes that this new Ambulance will provide additional safety protection for the Town and also believes it to be necessary, financially beneficial and in the public interest to consider such financing, and WHEREAS, the Town Board therefore wishes to adopt a Resolution authorizing such Ambulance purchase and the Squad’s corresponding incurrence of tax-exempt debt and financing, NOW, THEREFORE, BE IT RESOLVED, that the Queensbury Town Board hereby approves of the West Glens Falls Emergency Squad, Inc.’s proposal to purchase a 2019 Chevy K-3500 Chassis Ambulance with a Demers MXP-150 Conversion Box as set forth in the preambles of this Resolution for an amount not to exceed $186,998, and 2 BE IT FURTHER, RESOLVED, that the Town Board further approves of the Squad’s incurrence of approximately $146,998 maximum amount in debt for such purchase with the understanding that the Town Board is relying upon the Squad’s assurance that the Ambulance is serviceable and suitable for its long-term intended use, and approves of the tax-exempt financing with the Adirondack Trust Company for the purpose of purchasing the new Ambulance and associated equipment, with such tax- exempt financing having a 72 month term, and BE IT FURTHER, RESOLVED, that the Town of Queensbury does not guarantee such debt with the financial institution on behalf of the Squad 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 financing, and BE IT FURTHER, RESOLVED, that the Town Board authorizes and directs the Town Supervisor and/or Budget Officer to take any actions necessary to effectuate the terms of this Resolution. th Duly adopted this 13 day of January, 2020 by the following vote: AYES : NOES : ABSENT: 3