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031.2003 RESOLUTION AUTHORIZING AGREEMENT BETWEEN TOWN OF QUEENSBURY AND QUEENSBURY ECONOMIC DEVELOPMENT CORPORATION RESOLUTION NO. : 31, 2003 INTRODUCED BY: Mr. Roger Boor WHO MOVED FOR ITS ADOPTION SECONDED BY: Mr. Theodore Turner WHEREAS, on behalf of the Town of Queensbury, Queensbury Town Board members formed the Queensbury Economic Development Corporation (QEDC) in 1986 under the Not-for- Profit Corporation Law §402 and §1411, and WHEREAS, the Town and QEDC recognize the need to revitalize the local economy by increasing the number of jobs for Town residents by attracting high technology and other industries to the area, and WHEREAS, in accordance with the Not-for-Profit Corporation Law §1411(a) and QEDC’s Certificate of Incorporation, as amended, the purposes of the QEDC are the exclusively charitable or public purposes of relieving and reducing unemployment, promoting and providing for additional and maximum employment, bettering and maintaining job opportunities, instructing or training individuals to improve or develop their capabilities for such jobs, carrying on scientific research for the purpose of aiding a community or geographical area by attracting new industry to the community or area or by encouraging the development of, or retention of, an industry in the community or area, and lessening the burdens of government and acting in the public interest, and WHEREAS, the Not-for-Profit Corporation Law specifically finds that corporations organized under §1411 perform an essential governmental function, and WHEREAS, the Town Board strongly supports QEDC’s important mission to improve employment opportunities and economic development in the Town, and WHEREAS, the Town wishes to enter into an agreement with QEDC and a proposed agreement has been presented at this meeting in form approved by Town Counsel, NOW, THEREFORE, BE IT RESOLVED, that the Queensbury Town Board hereby approves and authorizes the Agreement with the Queensbury Economic Development Corporation presented at this meeting with funding to be paid for from the appropriate account, and BE IT FURTHER, RESOLVED, that the Town Board further authorizes and directs the Town Supervisor to execute the Agreement and take such other and further action as may be necessary to effectuate the terms of this Resolution. th Duly adopted this 6 day of January, 2003 by the following vote: AYES : Mr. Stec, Mr. Brewer, Mr. Brower, Mr. Boor, Mr. Turner NOES : None ABSENT: None