409.2005
RESOLUTION APPROVING QUEENSBURY CENTRAL VOLUNTEER
FIRE COMPANY, INC.’S PROPOSAL TO PURCHASE TOWER TRUCK
AND AUTHORIZING INCURRENCE OF DEBT FOR SUCH PURCHASE
RESOLUTION NO.: 409, 2005
INTRODUCED BY: Mr. John Strough
WHO MOVED FOR ITS ADOPTION
SECONDED BY: Mr. Theodore Turner
WHEREAS, the Town of Queensbury and the Queensbury Central Volunteer Fire
Company, Inc. (Fire Company) have entered into an Agreement for fire protection services, which
Agreement sets forth a number of terms and conditions including a condition that the Fire
Company 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 Fire
Company to acquire a loan or mortgage or use money placed in a “vehicles fund” without prior
approval of the Queensbury Town Board, and
WHEREAS, the Fire Company has advised the Town Board that it wishes to replace its 1989
tower truck with a new 134’ Tower Truck for a sum not to exceed $1,039,000 and that such purchase
is already included in the scheduled Fire Company’s five (5) year capital plan that forecasts future
capital needs and expenditures, including anticipated vehicles, equipment, tools, other apparatus,
facilities or improvements to facilities to be used for firematic purposes, and
WHEREAS, the Fire Company plans on paying for the Tower Truck by financing the truck
with a tax-exempt loan over the estimated useful life of the Truck (15 years) at a rate to be determined,
and
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WHEREAS, on September 12, 2005, the Town Board held a public hearing concerning
the Fire Company’s proposed Tower Truck purchase and tax-exempt financing and heard all
interested persons, and
WHEREAS, the Town Board feels that this new Tower Truck will provide additional,
improved safety protection for the Town and therefore the Town Board wishes to adopt a
Resolution authorizing the purchase of the Tower Truck and allowing incurrence of debt by the
Fire Company,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby approves of the Queensbury
Central Volunteer Fire Company, Inc.’s proposal to purchase a new 134’ Tower Truck for a sum
not to exceed $1,039,000 where such purchase is already included in the scheduled Fire Company’s
five (5) year capital plan that forecasts future capital needs and expenditures, including anticipated
vehicles, equipment, tools, other apparatus, facilities or improvements to facilities to be used for
firematic purposes, and
BE IT FURTHER,
RESOLVED, that the Town Board further approves of the incurrence of $1,039,000 in
debt by the Queensbury Central Volunteer Fire Company, Inc. for such purchase with the
understanding that the Town Board is relying upon the Fire Company’s assurances that the Tower
Truck is serviceable and suitable for its long-term intended use,
BE IT FURTHER,
RESOLVED, that the Fire Company’s retired tower truck will be sold or traded at fair
market value and the proceeds will be used to reduce the amount of the Fire Company’s debt, and
BE IT FURTHER,
RESOLVED, that the Town of Queensbury does not guarantee the debt with the financial
institution on behalf of the Fire Company 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 further authorizes and directs the Town Supervisor
and/or Town Budget Officer to take any action necessary to effectuate all terms of this
Resolution.
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Duly adopted this 12 day of September, 2005 by the following vote:
AYES : Mr. Turner, Mr. Strough, Mr. Brewer, Mr. Stec, Mr. Boor
NOES : None
ABSENT: None