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2.06 2.6 FINANCIAL\2012\Capital Project Fiord—Establish—Freedom Park&WithdraNval From Fiord#61-614-12 RESOLUTION AUTHORIZING FREEDOM PARK RECREATION AREA IMPROVEMENT PROJECT #190 AND WITHDRAWAL FROM CAPITAL RESERVE FUND #61 RESOLUTION NO.: ,2012 INTRODUCED BY: WHO MOVED ITS ADOPTION SECONDED BY: WHEREAS, the Queensbury Town Board previously established a Capital Reserve Fund known as the Recreation Reserve Fund No. 61 for future capital projects, and WHEREAS, the Town Board wishes to withdraw and expend moneys from such reserve account in the amount of$16,000 for specific capital improvements and certain items of equipment for the Freedom Park Recreation Area as set forth in the Town Recreation Commission's May 24h, 2012 Memorandum presented at this meeting and as follows: • New safety surfacing $12,000 • Play equipment repair or replacement $ 4,000 TOTAL: $16,000 and WHEREAS, in accordance with New York State General Municipal Law §6(c), the Town Board is authorized to withdraw and expend funds from Fund#64 subject to permissive referendum, NOW, THEREFORE, BE IT RESOLVED, that the Queensbury Town Board hereby authorizes the recreation project known as the Freedom Park Recreation Area Improvement Project and authorizes expenditures in the total amount of$16,000, and BE IT FURTHER, RESOLVED, that the Town Board hereby authorizes and directs the establishment of a separate capital project fund for such Project—Freedom Park Recreation Area Project Fund#190, and BE IT FURTHER, RESOLVED, that the Town Board hereby authorizes a transfer from Fund No.: 61 in the amount of $16,000 to fund such Project, such funds to be placed into the Recreation Area Improvement Project Fund #190 to be established in accordance with this Resolution and the Town Board further directs that in the event there are funds remaining in such Fund#190 after completion of the Project or in the event that the Project is not undertaken, the moneys in Fund #190 shall be returned to the Recreation Reserve, and BE IT FURTHER, RESOLVED, that the Town Board hereby establishes initial appropriations in Expense Account No.'s: 190-7110-2899 — Capital Construction and 001-9950-9030-0061 - Transfer to Capital Project in the amount of $16,000 and estimated revenues in Account No.: 190-0000- 55031 in the amount of$16,000, and BE IT FURTHER, RESOLVED, that the Town Board hereby finds that the withdrawal and expenditure for the Freedom Park Recreation Area Improvement Project is an expenditure for a specific capital project and items of equipment for which the reserve account was established, and BE IT FURTHER, RESOLVED, that the Town Board further authorizes and directs the Town Supervisor, Parks &Recreation Director and/or Town Budget Officer to take all actions necessary to effectuate the terms of this Resolution, and BE IT FURTHER, RESOLVED, that this Resolution is subject to a permissive referendum in accordance with the provisions of Town Law Article 7 and the Town Board hereby authorizes and directs the Town Clerk to publish and post such notices and take such other actions as may be required by law. Duly adopted this 4h day of June, 2012 by the following vote: AYES NOES ABSENT