430.97
RESOLUTION AUTHORIZING INTERFUND ADVANCES
RESOLUTION NO.: 430.97
INTRODUCED BY: Mrs. Betty Monahan
WHO MOVED ITS ADOPTION
SECONDED BY: Mrs. Connie Goedert
WHEREAS, pursuant to Section 9-A of the General Municipal Law
of the State of New York, the Town Board of the Town of Queensbury
is authorized to temporarily advance moneys held in any fund to any
other fund,
NOW, THEREFORE, BE IT
RESOLVED, that the Town Board of the Town of Queensbury hereby
authorizes the temporary advance of funds to the accounts or funds
indicated, and in the amounts indicated, as set forth below:
FROM: TO: $ AMOUNT
Queensbury Water West Glens Falls 2,500.
Fund Water Fund
and
BE IT FURTHER,
RESOLVED, that the Town Controller is hereby authorized and
directed to arrange for and accomplish the above-authorized
transfers, and temporary advances, and
BE IT FURTHER,
RESOLVED, that the Town Controller shall keep suitable records
and arrange for the repayment of the temporary advances as soon as
available, and in the case of loans from funds generated from
differing tax bases, the Town Controller shall also determine the
amount of interest, if any, to be paid, upon repayment, with the
amount of interest to be equal to the amount that would have been
earned on the investment of moneys in the Fund making the advance,
had the advance not been made.
Duly adopted this 17th day of November, 1997, by the following
vote:
AYES : Mr. Turner, Mrs. Goedert, Mrs. Pulver, Mrs. Monahan, Mr.
Champagne
NOES : None
ABSENT: None