418.2001
RESOLUTION AUTHORIZING RELEASE OF ESCROW FUNDS
IN CONNECTION WITH VERANDA LANE IN PHASE I OF
THE VISTAS SUBDIVISION
RESOLUTION NO.: 418, 2001
INTRODUCED BY: Mr. Daniel Stec
WHO MOVED FOR ITS ADOPTION
SECONDED BY: Mr. Theodore Turner
WHEREAS, by Resolution No.: 251,97 the Queensbury Town Board accepted and approved
the deed for dedication of Veranda Lane in Phase I of the Vistas Subdivision, and
WHEREAS, at that time Harold Raven (Developer) agreed to furnish the Town with a cash
escrow in the amount of Twelve Thousand Dollars ($12,000) to ensure completion of the top coat of
the road, and
WHEREAS, Developer provided the Town with the required $12,000 and entered into an
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Escrow Agreement with the Town dated September 12, 1997, and
WHEREAS, as required by the Escrow Agreement the Town deposited the $12,000 in an
interest bearing account, and
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WHEREAS, by Memorandum dated October 29, 2001, the Town’s Highway Superintendent
advised the Town Board that the Developer had completed to the Highway Superintendent’s
satisfaction the top coat of the road, and
WHEREAS, the Town Board wishes to authorize the refund of funds currently held in escrow
to the Developer as set forth in the Escrow Agreement,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby authorizes the return of escrow funds
to Harold Raven, which sum shall be the amount of $12,000 plus any earned interest, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Comptroller’s
Office to take such other and further action necessary to effectuate the terms of this Resolution.
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Duly adopted this 5 day of November, 2001, by the following vote:
AYES : Mr. Turner, Mr. Stec, Mr. Brewer, Mr. Brower
NOES : None
ABSENT: Mr. Martin