2018-1802018-180
Resolution Authorizing Temporary Borrowing From Unallocated Highway Fund Balance For Paving -
(V. Bettina/Thurston)
At a Regular 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 23, 2018.
The meeting was called to order by Richard Thurston, Town Supervisor, and upon roll being called, the
following was recorded:
✓ Vote Record - Resolution RES -2018-180
From Line
To Line
$ 600,000.00
DB0915 Unallocated Fund
Balance
DB5130.200 Machinery, Equipment & Capital
Outlay
Yes/Aye
No/Nay
Abstain
Absent
Q Adopted
❑ Adopted as Amended
Richard Thurston
Seconder
Q
❑
❑
❑
❑ Defeated
William H. Beale
Voter
Q
❑
❑
❑
❑ Tabled
Angela Bettina
Voter
Q
❑
❑
❑
❑ Withdrawn
Robert Johnston
Voter
Q
❑
❑
❑
Michael Kuzmicz
Mover
Q
❑
❑
❑
The following Resolution was introduced by Councilman Kuzmicz and seconded by Supervisor
Thurston.
WHEREAS, by Resolution 2018-144, adopted by the Town Board on June 11, 2018, the Town Board
authorized the issuance of $1,600,000 in Serial Bonds to be issued by the Town to pay for cost of paving
improvements for certain highways of the Town of Wappinger; and
WHEREAS, the Town Comptroller has further advised the Town Board that there are unallocated fund
balances within the Highway Account which could be temporarily loaned to pay for paving costs until the Bond
is issued.
NOW, THEREFORE, BE IT RESOLVED, as follows:
1. The Town Board hereby authorizes the Supervisor and Comptroller to temporarily borrow up to
$600,000.00 from the Highway unallocated fund balance to pay paving contractors, and paving
materials and other incidental work performed for paving Town highways.
2. The Town Board hereby authorizes the following budget line transfer:
Amount
From Line
To Line
$ 600,000.00
DB0915 Unallocated Fund
Balance
DB5130.200 Machinery, Equipment & Capital
Outlay
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 Highway Fund prior to December 31, 2018.
The foregoing was put to a vote which resulted as follows:
RESULT: ADOPTED [UNANIMOUS]
MOVER: Michael Kuzmicz, Councilman
SECONDER: Richard Thurston, Supervisor
AYES: Thurston, Beale, Bettina, Johnston, Kuzmicz
Dated: Wappingers Falls, New York
7/23/2018
The Resolution is hereby duly declared Adopted.
JOS/F-P/H P. PAOLONI, TOWN CLERK