235.2010 Interfund advance
RESOLUTION AUTHORIZING SHORT-TERM, INTERFUND ADVANCE
RESOLUTION NO.: 235, 2010
INTRODUCED BY: Mr. Tim Brewer
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Ronald Montesi
WHEREAS, in order to aid with cash flow, the Queensbury Town Board wishes to
arrange for a short-term interfund advance as authorized by New York State General Municipal
Law §9-a,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby authorizes a short-term interfund
advance in the amount of $500,000 from Capital Reserve #64 to the General Fund #1 bearing
interest at the rate being earned by such Capital Reserve with such advance to be repaid on or
before December 31, 2010, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Supervisor,
Town Budget Officer and/or Town Accountant to take all actions necessary to effectuate the
terms of this Resolution.
st
Duly adopted this 21 day of June, 2010, by the following vote:
AYES: Mr. Montesi, Mr. Strough, Mr. Brewer, Mr. Stec, Mr. Metivier
NOES: None
ABSENT: None