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182.94 RESOLUTION APPROVING THE INCURRING, ON THE PART OF THE BAY RIDGE VOLUNTEER FIRE COMPANY, INC., OF FINANCIAL OBLIGATIONS RESOLUTION NO.: 182, 94 INTRODUCED BY: Dr. George Wiswall WHO MOVED ITS ADOPTION SECONDED BY: Mrs. Betty Monahan WHEREAS, the Town of Queensbury presently has a contract with the Bay Ridge Volunteer Fire Company, Inc., wherein the said Fire Company has agreed to provide fire protection services for a certain area of the fire protection district located within the Town of Queensbury, and WHEREAS, the Bay Ridge Volunteer Fire Company, Inc. is presently desirous of purchasing a new piece of fire apparatus known as a KME Rescue Pumper and securing financing for a portion of the purchase price, and WHEREAS, the Bay Ridge Volunteer Fire Company, Inc. has negotiated with the LaSalle National Bank of Denver, Colorado a lease purchase agreement qualifying as tax-exempt bonding under §301(e) of the Internal Revenue Code of 1986 as amended, and WHEREAS, the Bay Ridge Volunteer Fire Company, Inc., pursuant to §147(f) of the Internal Revenue Code of 1986, as amended, has requested that the Town Board of the Town of Queensbury hold a public hearing pursuant to said statute to authorize the approval of said financing and authorize the Supervisor of the Town of Queensbury to execute an approval of said financing to comply with the statutory requirements, and WHEREAS, on April 4, 1994, the Town Board of the Town of Queensbury held a public hearing for the aforedescribed purpose and provided an opportunity for interested persons to be heard regarding the financing proposal, and WHEREAS, the Town of Queensbury desires to facilitate said financing on behalf of the Fire Company, and NOW, THEREFORE, BE IT RESOLVED, that the Town Board of the Town of Queensbury hereby approves the incurring on the part of the Bay Ridge Volunteer Fire Company, Inc. of financial obligations in the amount of $185,996.00 for the purchase of one (1) KME Rescue Pumper with tax-exempt financing provided pursuant to §301(e) of the Internal Revenue Code of 1986, as amended, and BE IT FURTHER RESOLVED, that the Town Board of the Town of Queensbury shall not and does not, by this resolution, create or intend to create, any assumption on the part of the Town of Queensbury, of any obligation or liability for the financing referred to herein. Duly adopted this 4th day of April, 1994, by the following vote: AYES: Mrs. Monahan, Dr. Wiswall, Mr. Caimano, Mr. Champagne NOES: None ABSENT:None ABSTAIN:Mrs. Pulver