218.2000
RESOLUTION AUTHORIZING RELEASE OF PORTION OF ESCROW
FUNDS IN CONNECTION WITH CENTRAL QUEENSBURY QUAKER
ROAD SEWER DISTRICT EXT. #6 - EVEREST ENTERPRISES, INC.
RESOLUTION NO.: 218, 2000
INTRODUCED BY: Mr. James Martin
WHO MOVED FOR ITS ADOPTION
SECONDED BY: Mr. Tim Brewer
WHEREAS, by Resolution No.: 316.99, the Queensbury Town Board established and
authorized Central Queensbury Quaker Road Sewer District Extension No. 6 and executed a Sewer
Extension Agreement with the Developer, Everest Enterprises, Inc. (Everest), and
WHEREAS, Everest agreed to deposit funds in escrow with the Town to cover costs related
to construction of the sewer facilities, engineering and other related expenses, and
WHEREAS, by Town Board Resolution No.: 443.99, the Town Board authorized the return
of a portion of escrow funds to Everest and retained the balance of escrow funds as requested by the
Deputy Director of Wastewater (Deputy Director), and
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WHEREAS, by Memorandum dated May 5, 2000, the Deputy Director has advised the
Town Board that Everest has completed three punch list items and therefore recommends that the
Town release $3,000 from the escrow funds held by the Town to Everest and retain the remainder to
cover the one-year guarantee and Glens Falls Wastewater Treatment Plant Buy-In Costs and any
remaining costs,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby authorizes the return of $3,000 in
escrow funds to Everest Enterprises, LLC, and
BE IT FURTHER,
RESOLVED, that the Queensbury Town Board hereby authorizes retention of the escrow
funds in the approximate amount of $7,400, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Comptroller’s
Office and/or Wastewater Department to take such other and further actions necessary to effectuate
the terms of this Resolution.
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Duly adopted this 15 day of May, 2000, by the following vote:
AYES: Mr. Stec, Mr. Brewer, Mr. Martin, Mr. Turner, Mr. Brower
NOES: None
ABSENT:None