455.2002
RESOLUTION ESTABLISHING NEW CAPITAL PROJECT FUND
#136 – ROUTE 9 SEWER DISTRICT PROJECT FUND
RESOLUTION NO.: 455. 2002
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 a sewer district extending up Route 9, and
WHEREAS, the total Project cost is estimated to be $5,170,000 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 “Route 9 Sewer District Project Fund
#136,” which Fund will establish funding for expenses associated with an extension of the Town’s
wastewater system on Route 9, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs that funding for this
Project shall be by $5,170,000 from the proceeds of obligations through proposed financing over
30 years using Environmental Facilities Corporation (EFC) Financing, and
BE IT FURTHER,
RESOLVED, that the Town Board hereby establishes initial appropriations and estimated
revenues for Capital Project Fund #136 in the amount of $5,170,000, 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. 136-0135-5720 – Proceeds
from Obligations - $5,170,000, Expense Account Nos., 136-8150-4403 – Engineer/Surveyor -
$245,307, 136-8150-4004 – Cost of Debt Issuance - $225,184, 136-8150-2899 – Capital
Construction - $3,753,060, 136-1990-4417 – Contingency - $376,126, 136-8150-4400 –
Miscellaneous Contractual - $191,923, 136-8150-4426 – Buy In Cost - $300,000, 136-8150-
4132 – Other Legal - $78,400, and
BE IT FURTHER,
RESOLVED, that the Town Board authorizes and directs the Town Comptroller’s Office
to amend the 2002 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.
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Duly adopted this 4 day of November, 2002 by the following vote:
AYES : Mr. Boor, Mr. Turner, Mr. Stec, Mr. Brewer, Mr. Brower
NOES : None
ABSENT: None