2012-216
2012-216
Resolution Authorizing Temporary Borrowing from the United Wappingers Water 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 August
13,2012.
The meeting was called to order by Barbara Gutzler, Supervisor, and upon roll being
called, the following were present:
PRESENT: Supervisor
Councilmembers
Barbara Gutzler
William H. Beale (Arrived at 7:31PM)
Vincent F. Bettina (Arrived at 7:47 PM)
Ismay Czamiecki
Michael Kuzmicz
ABSENT:
The following Resolution was introduced by Councilman Bettina and seconded by
Councilman Beale.
WHEREAS, by Agreement dated May 15,2012, the Town Board entered into an
Agreement in Principle (AlP) with the City of New York through its Department of
Environmental Protection (DEP) for the construction of a 12 inch water main to the property
owned by the City of New York located on River Road in the Chelsea portion ofthe Town of
Wappinger (known as Extension No.2 of the United Wappingers Water District [UWWD]) ; and
WHEREAS, the 12 inch water pipe is designed to deliver up to 170,000 gallons of water
per day to be used in connection with the construction of the By-Pass Tunnel and Shaft 6B as
part ofthe WATER FOR THE FUTURE PROJECT, Delaware Aqueduct Rondout West Branch
Tunnel Repairs being undertaken by the DEP; and
WHEREAS, the terms of the AlP were formally incorporated in an Inter-Governmental
Agreement (IGA) between the Town Board and City of New York through its DEP; and
WHEREAS, one of the provisions ofthe IGA requires the DEP to reimburse the Town
for all costs it incurs in connection with the establishment of Extension No.2 of the UWWD; and
WHEREAS, the DEP has advised the Town that the IGA is in the process of being
registered with the New York City Comptroller's Office and upon such registration will be
executed by the DEP shortly thereafter; and
WHEREAS, by Resolution adopted by the Town Board on July 9, 2012, the Town
Board authorized the issuance of Bonds in the maximum amount of $350,000 to pay for the cost
of interim engineering and design studies, including any incidental expenses related thereto,
which will be incurred in connection with the establishment of Extension No.2 of the UWWD;
and
WHEREAS, the Accountant to the Town has advised the Town Board that there are fund
balances within the UWWD Accounts which could be temporarily loaned to the Town's General
Fund to pay for the aforementioned interim costs of engineering and design studies, including
incidental expenses related thereto.
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, rather than go through the expenses of issuing bonds to fund the
payment of the interim costs of engineering and design studies, including any
incidental expenses related thereto for the establishment of Extension No.2 of the
UWWD hereby authorizes the Supervisor to temporarily borrow up to $350,000
from the UWWD accounts to pay for said interim costs.
3. The Town Board directs that any funds temporarily borrowed from the UWWD
accounts shall be reimbursed to said UWWD accounts prior to December 31,
2012 together with interest at the rate of .3% per annum pro-rated to date of
payment.
4. In the event any sums borrowed from the UWWD account are not reimbursed by
DEP prior to December 31,2012, the Town shall issue Serial Bonds in
accordance with the Resolution of July 9, 2012 to pay for the costs of interim
engineering and design studies, including any incidental expenses related thereto
and shall thereupon immediately reimburse the UWWD for all sums borrowed.
The foregoing was put to a vote which resulted as follows:
BARBARA GUTZLER, SUPERVISOR
WILLIAM H. BEALE, COUNCILMAN
VINCENT F. BETTINA, COUNCILMAN
ISMA Y CZARNIECKI, COUNCIL WOMAN
MICHAEL KUZMICZ, COUNCILMAN
Voting:
Voting:
Voting:
Voting:
Voting:
AYE
AYE
AYE
AYE
AYE
Dated: Wappingers Falls, New York
8/13/2012
The Resolution is hereby duly declared adopted.
~>>>>-o~
CHRISTINE FULTON, TOWN CLERK