617.95
RESOLUTION APPROVING THE USE OF FIRE COMPANY RESERVE MONEY
FOR DEBT SERVICE PAYMENTS
RESOLUTION NO. 617, 95
INTRODUCED BY: Mrs. Connie Goedert
WHO MOVED ITS ADOPTION
SECONDED BY: Mrs. Betty Monahan
WHEREAS, the Town of Queensbury and the Bay Ridge Volunteer
Fire Company, Inc., entered into an agreement dated December 30,
1994, and such agreement is still in full force and effect, and
WHEREAS, said agreement sets forth a number of terms and
conditions, including an agreement that monies provided in the
agreement for vehicle funds will not be transferred into or out of
without the approval of the Town Board of the Town of Queensbury,
and
WHEREAS, the President of the Fire Company has requested the
following budget amendments/transfers of funds:
FROM TO
AMOUNT
1995 Truck Fund Reserve Debt Service - Loan 320
$15,000.
1994 Truck Fund Reserve Debt Service - Loan 320
5,000.
1995 Debt Service-LaSalle Loan Debt Service - Loan 320
42,000.
and
WHEREAS, said transfer will allow the Fire Company to pre-pay
the debt service on Loan 320 and save an estimated $20,000., in
future interest cost,
NOW, THEREFORE, BE IT
RESOLVED, that the Town Board of the Town of Queensbury hereby
approves the following transfer of funds for the Bay Ridge Fire
Company, Inc.:
FROM TO
AMOUNT
1995 Truck Fund Reserve Debt Service - Loan 320
$15,000.
1994 Truck Fund Reserve Debt Service - Loan 320
5,000.
1995 Debt Service-LaSalle Loan Debt Service - Loan 320
42,000.
Duly adopted this 4th day of December, 1995, by the following
vote:
AYES : Mr. Turner, Mrs. Goedert, Mrs. Pulver, Mrs. Monahan,
Mr. Champagne
NOES : None
ABSENT: None