531.2003
RESOLUTION ESTABLISHING NEW CAPITAL PROJECT FUND
#142 – WATER TRANSMISSION ENHANCEMENTS
RESOLUTION NO.: 531, 2003
INTRODUCED BY: Mr. Roger Boor
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Theodore Turner
WHEREAS, the Queensbury Town Board wishes to establish a Capital Project Fund to
fund the design and construction of transmission enhancements to the Town of Queensbury’s
water system, and
WHEREAS, the total Project cost is estimated to be $3,020,000 and therefore the Town
Board wishes to appropriately establish a Capital Project Fund,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby authorizes and directs the
establishment of a Capital Project Fund to be known as the Water Transmission Enhancements
Project Fund #142, which Fund will establish funding for expenses associated with enhancements
to the Town’s water system, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs that funding for this
Project shall be by $2,750,000 from the proceeds of obligations through proposed financing over
20 years and the transfer of $270,000 of fund balance from the Water Fund, and
BE IT FURTHER,
RESOLVED, that the Town Board hereby establishes initial appropriations and estimated
revenues for Capital Project Fund #142 in the amount of $3,020,000, and
BE IT FURTHER,
RESOLVED, that the Queensbury Town Board further authorizes and directs the Town
Comptroller’s Office to take all action necessary to establish the following accounts for such
appropriations and revenues as necessary:
?
Revenue Account No. 142-0141-5720 – Proceeds from Obligations - $2,750,000
?
Revenue Account No. 142-0141-0878 – Capital Reserve - $270,000
?
Expense Account No. 142-8340-2899 - Capital Construction - $2,386,075
?
Expense Account No. 142-8340-4403 – Engineer/Surveyor - $240,000
?
Expense Account No. 142-8340-4417 - Contingency - $274,925
?
Expense Account No. 142-8340-4400 – Miscellaneous Contractual - $119,000
and
BE IT FURTHER,
RESOLVED, that the Town Board authorizes and directs the Town Comptroller’s Office
to amend the 2003 Town Budget, make any adjustments, budget amendments, transfers or
prepare any documentation necessary to establish such appropriations and estimated revenues and
effectuate all terms of this Resolution.
th
Duly adopted this 15 day of December, 2003 by the following vote:
AYES : Mr. Boor, Mr. Turner, Mr. Stec, Mr. Brewer, Mr. Brower
NOES : None
ABSENT:None