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534.2004 RESOLUTION AMENDING RESOLUTION NO.: 518,2004 REGARDING RELEASE OF ESCROW FUNDS IN CONNECTION WITH FARR LANE IN INDIAN RIDGE SUBDIVISION RESOLUTION NO.: 534, 2004 INTRODUCED BY: Mr. Tim Brewer WHO MOVED ITS ADOPTION SECONDED BY: Mr. John Strough WHEREAS, by Resolution No.: 518,2004 the Queensbury Town Board authorized the return of escrow funds to Tra-Tom Development, Inc., in connection with the dedication of the remaining portion of Farr Lane in Phase III of the Indian Ridge Subdivision, which sum was the amount of $20,000 plus any earned interest, and WHEREAS, the Town’s Accounting Office has advised that there were still funds remaining in escrow in connection with the dedication of a portion of Farr Lane in Phase II of the Indian Ridge Subdivision in the amount of $17,840, and WHEREAS, the Town’s Deputy Highway Superintendent has advised that the Developer has completed to the Highway Superintendent’s satisfaction the top coat of the roads in both Phase II and Phase III, and WHEREAS, the Town Board wishes to amend Resolution No. 518,2004 to provide for the return of escrow funds to Tra-Tom Development, Inc., in connection with the dedication of the both Phase II and Phase III portions of Farr Lane in of the Indian Ridge Subdivision, which total is $37,840 plus any earned interest, NOW, THEREFORE, BE IT RESOLVED, that the Queensbury Town Board hereby amends Resolution No.: 518,2004 to authorize the return of escrow funds to Tra-Tom Development, Inc., in connection with the dedication of the portions of Farr Lane in both Phase II and Phase III of the Indian Ridge Subdivsion, in the sum of $37,840 plus any earned interest, and BE IT FURTHER, RESOLVED, that the Town Board hereby affirms and ratifies Resolution No.: 518,2004 in all other respects. st Duly adopted this 1 day of November, 2004, by the following vote: AYES : Mr. Strough, Mr. Brewer, Mr. Stec, Mr. Boor, Mr. Turner NOES : None ABSENT: None