335.2008
RESOLUTION AUTHORIZING CLOSURE OF
ROUTE 9 SEWERCAPITAL PROJECT FUND #136
RESOLUTION NO.: 335, 2008
INTRODUCED BY: Mr. John Strough WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Tim Brewer
WHEREAS, in accordance with Resolution No.: 455.2002, the Queensbury Town Board
established the Route 9 Sewer District Capital Project Fund #136, and
WHEREAS, by such authorizing Resolution, the Town Board also authorized funding for
the Sewer Project to be by proceeds of obligations through proposed financing over 30 years
using Environmental Facilities Corporation (EFC) financing, and
WHEREAS, the Town’s Wastewater Director has advised that the project is complete,
and
WHEREAS, the Town’s accounting records show that there is approximately $50,937
remaining in Capital Project Fund #136, and
WHEREAS, the Town also has approximately $220,240.53 with EFC, and
WHEREAS, the Town Board wishes to close Capital Project Fund #136 and transfer the
Fund’s remaining fund balance to Fund #36 to be applied to debt principal, and
WHEREAS, the Town Board also wishes to authorize EFC to transfer its remaining
funds to debt service,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby authorizes and directs the Town
Budget Officer to close the Route 9 Sewer District Capital Project Fund #136 and transfer the
Fund’s remaining balance to Fund #36 to be applied to debt principal, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Environmental
Facilities Corporation (EFC) to apply all its remaining funds to debt service and authorizes and
directs the Town Supervisor to execute any necessary forms to effectuate such action, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Budget
Officer to take such other and further action as may be necessary to effectuate all terms of this
Resolution.
th
Duly adopted this 7 day of July, 2008, by the following vote:
AYES : Mr. Metivier, Mr. Montesi, Mr. Strough, Mr. Brewer, Mr. Stec
NOES : None
ABSENT: None