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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