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113.2008 RESOLUTION AUTHORIZING WEST END PARK IMPROVEMENT PROJECT AND WITHDRAWAL FROM CAPITAL RESERVE FUND NO.’S: 61 AND 64 FOR SUCH PROJECT RESOLUTION NO.: 113, 2008 INTRODUCED BY: Mr. Tim Brewer WHO MOVED ITS ADOPTION SECONDED BY: Mr. John Strough WHEREAS, the Queensbury Town Board previously established a Capital Reserve Fund known as the Recreation Assessment Reserve Fund No. 61 (Fund No. 61) for future recreational developments, and WHEREAS, the Town Board previously established a Capital Improvement Plan Reserve Fund No. 64 (Fund No. 64) for future Town project developments, and WHEREAS, the Town Board wishes to withdraw and expend moneys from such reserve accounts in the amount of $118,276.18 ($30,000 from Fund No. 61 and $88,276.18 from Fund No. 64) for specific capital improvements and certain items of equipment for the West End Park Improvement Project to consist of: 1.demolition and removal of the old basketball court; 2.installing a new playground area; 3.installing a new basketball court; 4.site work to create an informal ball field with backstop; 5.landscaping and improving the entryway and creation of parking area; and 6.professional services for all of the above; and § WHEREAS, in accordance with New York State General Municipal Law 6(c), the Town Board is authorized to withdraw and expend funds from Fund No.’s: 61 and 64 subject to permissive referendum, NOW, THEREFORE, BE IT RESOLVED, that the Queensbury Town Board hereby authorizes the recreation project known as the West End Park Improvement Project and authorizes expenditures in the total amount of $219,000 for the work described in the preambles of this Resolution, and BE IT FURTHER, RESOLVED, that the Town Board hereby authorizes and directs the Town Supervisor to establish a separate capital project fund for such Project – West End Park Improvement Project Capital Project Fund #169, and BE IT FURTHER, RESOLVED, that the Town Board hereby authorizes a transfer from Fund No.: 61 in the amount of $30,000 and a transfer from Fund No.: 64 in the amount of $96,256.83 to fund such Project, such funds to be placed into the capital project fund to be established in accordance with this Resolution and the Town Board further directs that in the event there are funds remaining in such capital project fund after completion of the Project or in the event that the Project is not undertaken, the moneys in the capital project fund shall be returned to the capital reserve fund, and BE IT FURTHER, RESOLVED, that the Town Board hereby finds that the withdrawal and expenditure for the West End Park Improvement Project is an expenditure for a specific capital project and items of equipment for which the reserve account was established, and BE IT FURTHER, 2 RESOLVED, that this Resolution is subject to a permissive referendum in accordance with the provisions of Town Law Article 7 and the Town Board hereby authorizes and directs the Town Clerk to publish and post such notices and take such other actions as may be required by law. th Duly adopted this 28 day of January, 2008 by the following vote: AYES: Mr. Montesi, Mr. Strough, Mr. Brewer, Mr. Stec, Mr. Metivier NOES: None ABSENT: None 3