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231.2006 RESOLUTION AUTHORIZING INCREASE IN HOVEY POND PARK IMPROVEMENT PROJECT #146 AND WITHDRAWAL FROM CAPITAL RESERVE FUND #64 RESOLUTION NO.: 231, 2006 INTRODUCED BY: Mr. John Strough WHO MOVED ITS ADOPTION SECONDED BY: Mr. Roger Boor WHEREAS, the Queensbury Town Board previously established a Capital Reserve Fund known as the Recreation Assessment Reserve Fund No. 61 for future capital projects, and WHEREAS, by Resolution No.: 102,2004, the Town Board authorized establishment of the Hovey Pond Park Improvement Project (Project) and the Hovey Pond Park Capital Project Fund #146, and WHEREAS, by Resolution No.: 161,2006, the Town Board authorized Phase II of the Project and an increase in Capital Project Fund #146, and WHEREAS, the Town’s Purchasing Agent published an advertisement for bids for Phase II of th the Project and on April 17, 2006 bids were duly received and opened, and WHEREAS, the lowest responsible bid received exceeds the original Project budget, and WHEREAS, the Parks and Recreation Director has therefore requested an increase in the Project budget in the amount of an additional $34,380, such increase to be funded by a withdrawal from Recreation Assessment Reserve Fund No. 61, 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 #61 subject to permissive referendum, NOW, THEREFORE, BE IT RESOLVED, that the Queensbury Town Board hereby authorizes an increase in the Hovey Pond Park Improvement Project and authorizes additional expenditures in the amount of $34,380 as delineated in the preambles of this Resolution, and BE IT FURTHER, RESOLVED, that the Town Board hereby authorizes a transfer from Recreation Assessment Reserve Fund No. 61 in the amount of $34,380 to fund such Project, such funds to be placed into the Capital Project Fund No.: 146 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 improvement fund, and BE IT FURTHER, RESOLVED, that the Town Board hereby increases appropriations in expense accounts and increases in estimated revenues in such accounts as will be determined by the Town’s Budget Officer, and BE IT FURTHER, RESOLVED, that the Town Board hereby finds that the withdrawal and expenditure for the Hovey Pond 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. st Duly adopted this 1 day of May, 2006 by the following vote: AYES :Mr. Strough, Mr.Stec, Mr. Boor, Mr. Sanford NOES: None ABSENT: Mr. Brewer 3