151.96
RESOLUTION APPROVING THE INCURRING OF FINANCIAL OBLIGATIONS
ON THE PART OF THE
BAY RIDGE VOLUNTEER FIRE COMPANY, INC.,
RESOLUTION NO. 151, 96
INTRODUCED BY: Mrs. Connie Goedert
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. desires to
purchase twenty-five (25) new Scott Aviation Air Packs in
accordance with tax-exempt financing provided under §147(f) of the
Internal Revenue Code of 1986, and
WHEREAS, the Bay Ridge Volunteer Fire Company, Inc. has
negotiated with Associates Commercial Corporation to enter into a
lease purchase agreement qualifying as tax-exempt bonding under
§147(f) 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 March 18, 1996, 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 maximum, aggregate
principal amount of $66,855.28 for the purchase of twenty-five (25)
new Scott Aviation Air Packs in accordance with tax-exempt
financing provided pursuant to §147(f) 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 18th day of March, 1996, by the following
vote:
AYES : Mrs. Goedert, Mrs. Pulver, Mrs. Monahan, Mr. Turner
Mr. Champagne
NOES : None
ABSENT: None