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312.2011 Approve Bay Ridge Rescue Squad Agreem RESOLUTION APPROVING 2012 - 2014 GENERAL EMERGENCY AMBULANCE SERVICES AGREEMENT BETWEEN TOWN OF QUEENSBURY AND BAY RIDGE RESCUE SQUAD, INC. AND AUTHORIZING INCURRENCE OF TAX-FREE FINANCING/DEBT FOR BUILDING EXPANSION RESOLUTION NO.: 312, 2011 INTRODUCED BY: Mr. Anthony Metivier WHO MOVED FOR ITS ADOPTION SECONDED BY: Mr. John Strough § WHEREAS, in accordance with Town Law 184, the Queensbury Town Board may contract with ambulance services certified or registered in accordance with Public Health Law Article 30 for general emergency ambulance services within the Town, and WHEREAS, the general emergency ambulance services Agreement (Agreement) currently in effect between the Town of Queensbury and the Bay Ridge Rescue Squad, Inc. (Squad) will expire on December 31, 2011, and WHEREAS, the Town and the Squad negotiated terms for a new three (3) year Agreement, and WHEREAS, the Agreement sets forth a number of terms and conditions, including a condition that the Squad will not purchase or enter into any binding contract to purchase any piece of apparatus, equipment, vehicles, real property, or make any improvements that would require the Squad to acquire a loan or mortgage without prior approval of the Queensbury Town Board, and WHEREAS, the Squad presented to the Town Board a proposal to construct an expansion of its building at 1109 Ridge Road for a principal amount not to exceed $428,971 and its proposal to finance such expansion project through tax-exempt financing provided under §150(e) of the Internal Revenue Code of 1986, as amended, and WHEREAS, the Squad has negotiated with local banksto enter into a financing agreement for an amount not to exceed $428,971 for 20 years at a market rate expected to be approximately 1.98% for the first year and 2.98% for years 2-5, and this financing arrangement is intended to qualify as tax-exempt under §150(e) of the Internal Revenue Code of 1986 as amended, if tax- exempt financing is available, and, if not, non tax-exempt financing is estimated to be approximately 3.75%,and WHEREAS, in accordance with §150(e)(3) and §147(f) of the Internal Revenue Code of 1986, as amended, the Squad requested that the Town Board conduct a public hearing to authorize approval of the financing and the Town Supervisor to execute approval of the financing to comply with the statutory requirements, and WHEREAS, the Town Board determined it to be in the best interest of the Squad and Town residents as required by the Internal Revenue Code to conduct a public hearing concerning the proposed expansion project, and WHEREAS, in accordance with Town Law §184 and General Municipal Law §209(b), the th Town Board scheduled and duly held a public hearing on Monday, October 17, 2011 concerning the proposed Agreement, and in accordance with §150(e)(3) and §147(f) of the Internal Revenue Code of 1986, as amended, the Town Board also conducted a public hearing to authorize approval of the financing and the Town Supervisor to execute approval of the financing to comply with the statutory requirements of the Squad’s proposal and tax-exempt financing as required by the Squad’s Agreement with the Town and the Internal Revenue Code, and heard all interested persons, and WHEREAS, a copy of the proposed Agreement has been presented at this meeting, and WHEREAS, the Town Board believes that the building expansion will help provide for better and additional ambulance services for the Town, and 2 WHEREAS, the Town Board therefore wishes to adopt a Resolution authorizing the 2012-2014 Agreement, building expansion and the Squad’s corresponding incurrence of tax- exempt debt, NOW, THEREFORE, BE IT RESOLVED, that the Queensbury Town Board hereby approves the general emergency ambulance services Agreement between the Town and the Bay Ridge Rescue Squad, Inc., (Squad) for the years 2012-2014 substantially in the form presented at this meeting, and BE IT FURTHER, RESOLVED, that the Town Board further approves of the Squad’s proposal to construct an expansion of its building at 1109 Ridge Road for a principal amount not to exceed $428,971 and proposes to finance the expansion project through tax-exempt financing provided under §150(e) of the Internal Revenue Code of 1986, as amended, and BE IT FURTHER, RESOLVED, that the Town Board further approves of the Fire Company’s incurrence of approximately $428,971 maximum amount in debt for such expansion, and BE IT FURTHER, RESOLVED, that the Town of Queensbury does not guarantee such debt with the financial institution on behalf of the Squad nor does the Town Board create or intend to create any assumption on the part of the Town of Queensbury of any obligation or liability for the financing, and 3 BE IT FURTHER, RESOLVED, that the Town Board further authorizes and directs the Town Supervisor to execute the 2012-2014 Agreement substantially in the form presented at this meeting and the Town Supervisor and/or Town Budget Officer to take any action necessary to effectuate all terms of this Resolution. th Duly adopted this 17 day of October, 2011 by the following vote: AYES : Mr. Stec, Mr. Metivier, Mr. Strough NOES : Mr. Brewer ABSENT: Mr. Montesi 4