2024-1852024-185
Resolution Authorizing The Transfer Of Funds In The Wildwood Sewer District
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 September 23, 2024.
The meeting was called to order by Joseph D.
Cavaccini, Town Supervisor, and upon roll being called,
the following was recorded:
✓ Vote Record - Resolution RES -2024-185
Yes/Aye No/Nay Abstain Absent
Q Adopted
❑ Adopted as Amended
Joseph D. Cavaccini
Voter Q ❑ ❑ ❑
❑ Defeated
William H. Beale
Voter 2 ❑ ❑ ❑
❑ Tabled
Angela Bettina
Voter Q ❑ ❑ ❑
❑ Withdrawn
Christopher Phillips
Mover Q ❑ ❑ ❑
Al Casella
Seconder Q ❑ ❑ ❑
The following Resolution was introduced by Councilman Phillips and seconded by Casella.
WHEREAS, Town Supervisor Joseph D. Cavaccini and Town Comptroller Jessica Servidio have identified a
shortfall of readily available funds that was not accounted for by the previous administration in the Wildwood
Sewer District Fund to pay for the full amount of an anticipated principal and interest payment due in October
2024 for a Bond Anticipation Note (BAN) totaling One Million Dollars ($1,000,000.00), and
WHEREAS, to pay the BAN principal and interest payment due in October 2024 the Town Comptroller has
recommended the following transfer of funds:
Transferred From: Amount:
Wildwood Sewer District Fund Balance $82,888.06
Transferred To: Amount:
Wildwood Sewer District Principal - 9730.0600 $40,000.00
Wildwood Sewer District Interest - 9730.0700 $47,368.06
NOW, THEREFORE, BE IT RESOLVED, that the Town Board hereby authorizes the Town Comptroller to
transfer funds in the amount of Eighty Two Thousand Eight Hundred Eighty Eight Dollars and Six Cents
($82,888.06) from the Wildwood Sewer District Fund Balance to the Wildwood Sewer District Principal and
Wildwood Sewer District Interest lines in accordance with this resolution.
The foregoing was put to a vote which resulted as follows:
RESULT: ADOPTED [UNANIMOUS]
MOVER: Christopher Phillips, Councilman
SECONDER: Al Casella, Councilman
AYES: Cavaccini, Beale, Bettina, Phillips, Casella
Dated: Wappingers Falls, New York
9/23/2024
The Resolution is hereby duly declared Adopted.