Red Hook WatchIndependent Community Resource

Salisbury Bank line of credit for vehicle purchases

↑Meetings/Documents/res::op-_08102015-304-01::2015-08-10::_08102015-304
Inline resolution2015-08-10
Original file not available onlineView version history →Meeting on 2015-08-10 →

Salisbury Bank line of credit for vehicle purchases

RESOLVED

  • The Village Board of Trustees shall exercise, as needed, a bridge loan in the form of a commercial line of credit from Salisbury Bank at a rate of 1.35% for the time gap between payment by the Village for new vehicles (Dump trailer and Dump Truck) and reimbursements from the NYSDOT FY2015-2016 CHIPS Allocation. The Village shall issue this line of credit not to exceed the not-to-exceed aggregate amount of $72,000.