2017-137 2017-137
Resolution Authorizing Temporary Borrowing From The United Wappinger Sewer
District Account
At a Special Meeting of the Town Board of the Town of Wappinger, Dutchess County,
New York, held at Town Hall, 20 Middlebush Road, Wappingers Falls, New York, on July 20,
2017.
The meeting was called to order by Lori A. Jiava, Town Supervisor, and upon roll being
called, the following was recorded:
✓Vote Record-Resolution RES-2017-137
Q Adopted Yes/Aye No/Nay Abstain Absent
❑ Adopted as Amended Lori A.Jiava Voter Q ❑ ❑ ❑
❑ Defeated William H.Beale Voter ❑ ❑ ❑ Q
❑ Tabled William Ciccarelli Seconder Q ❑ ❑ ❑
❑ Withdrawn John J.Fenton Voter ❑ ❑ ❑ Q
Michael Kuzmicz Mover Q ❑ ❑ ❑
The following Resolution was introduced by Councilman Kuzmicz and seconded by
Councilman Ciccarelli.
WHEREAS, by Resolution 2017-81, adopted by the Town Board on March 13, 2017,
the Town Board authorized the issuance of$280,000 in Serial Bonds to be issued by the Town to
pay for cost of improvements to the Mid Point Park Sewer District; and
WHEREAS, the Town Comptroller has advised the Town Board that the improvements
have been completed and that there are bills due totaling the amount of$157, 418.00 from Arold
Construction Co., Inc. that need to be paid; and
WHEREAS, the Town Comptroller has further advised the Town Board that there are
unallocated fund balances within the United Wappinger Sewer District account which could be
temporarily loaned to pay Arold Construction Co., Inc. until the Bond is issued.
NOW, THEREFORE, BE IT RESOLVED, as follows:
1. The recitations incorporated above set forth are incorporated in this Resolution as
if fully set forth and adopted herein.
2. The Town Board hereby authorizes the Supervisor to temporarily borrow up to
$280,000.00 from the United Wappinger Sewer District unallocated fund balance to pay Arold
Construction Co., Inc. for the work performed totaling the amount of$157,418.00 in connection
with the Mid Point Park Sewer District improvements.
3. The Town Board hereby authorizes the following budget line transfer:
Amount From Line To Line
$280,000.00 SU630 HSM391
United Wappinger Mid Point Park Sewer
Sewer District Collection System Capital
3. The Town Board directs that upon the issuance of the authorized Serial Bonds, any funds
temporarily borrowed shall be reimbursed to the unallocated fund balance of the United
Wappinger Sewer District prior to December 31, 2017 together with interest at the rate of.3%
per annum pro-rated to date of payment.
The foregoing was put to a vote which resulted as follows:
RESULT: ADOPTED [UNANIMOUS]
MOVER: Michael Kuzmicz, Councilman
SECONDER: William Ciccarelli, Councilman
AYES: Lori A. Jiava, William Ciccarelli, Michael Kuzmicz
ABSENT: William H. Beale, John J. Fenton
Dated: Wappingers Falls, New York
7/20/2017
The Resolution is hereby duly declared Adopted.
JOS P P. PAOLONI, TOWN CLERK
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