241.99
RESOLUTION AUTHORIZING RELEASE OF PORTION OF ESCROW
FUNDS IN CONNECTION WITH CENTRAL QUEENSBURY QUAKER
ROAD SEWER DISTRICT EXT. #4 - STEWART’S ICE CREAM CO. INC.,
RESOLUTION NO.: 241, 1999
INTRODUCED BY: Mr. Pliney Tucker
WHO MOVED FOR ITS ADOPTION
SECONDED BY: Mr. Theodore Turner
WHEREAS, the Town Board of the Town of Queensbury, by Resolution No.: 100,99,
established, authorized and approved Extension No. 4 to the Central Queensbury Quaker Road Sewer
District, and
WHEREAS, by Resolution No.: 131, 1999, the Town Board authorized and executed an
Agreement with the Developer, Stewart’s Ice Cream Co., Inc. (Stewart’s), concerning the Sewer
District Extension, and
WHEREAS, as part of the Agreement, Stewart’s agreed to deposit funds in escrow with the
Town to cover costs related to construction of the sewer facilities, engineering and other related
expenses, and
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WHEREAS, by Memorandum dated June 28, 1999, the Town’s Deputy Director of
Wastewater has advised the Town Board that the Sewer District Extension was constructed and
inspected in accordance with the Agreement between the Town and Stewart’s and therefore has
recommended that the Town release$29,745.50 in escrow funds (with interest) to Stewart’s minus the
approximate sum of $3,196 to be held by the Town to cover a one-year guarantee, Glens Falls
Wastewater Treatment Plant Buy-In Costs and legal fees,
NOW, THEREFORE, BE IT
RESOLVED, that the Town Board of the Town of Queensbury hereby authorizes the return
of approximately $26,549.50 in escrow funds with interest to Stewart’s Ice Cream Co., Inc., which
sum shall be the net result of the $29,745.50 deposit plus interest held in escrow, minus the guarantee,
buy-in and legal fees as designated on the Deputy Director of Wastewater’s Memorandum to the
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Town Board dated June 28, 1999 and presented at this meeting, and
BE IT FURTHER,
RESOLVED, that the Queensbury Town Board hereby authorizes retention of the fund
balance described above, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Controller’s Office
and/or Department of Wastewater to take such other and further actions necessary to effectuate the
terms of this Resolution.
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Duly adopted this 19 day of July, 1999, by the following vote:
AYES : Mr. Turner, Mr. Irish, Mr. Tucker, Mr. Merrill, Mr. Champagne
NOES : None
ABSENT: None