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Resolution — Authorization of Line of Credit for 2016 RAM Truck Purchase

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2 versions2016-04-11inline resolution

Versions

  1. 12016-04-11
    Salisbury Bank and Trust Company Line of Credit Note for Red Hook Village 2016 RAM Truck
    inline resolutionmeeting · 2016-04-11 · resolution 7-2016 · passed
  2. 22016-04-11
    Resolution — Authorization of Line of Credit for 2016 RAM Truck Purchase
    attached documentmeeting · 2016-04-11

Latest version

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Resolution dated April 11, 2016, authorizing the issuance of a note for $71,765.30 in the form of a commercial line of credit pursuant to the Local Finance Law, for the purpose of the purchase of anew 2016 RAM truck

Whereas; the Village of Red Hook purchased from Robert Green Truck Inc. a 2016 RAM Dump truck; for the sole purpose of highway use.

Whereas; Salisbury Bank has a line of credit and offers that to the Village of Red Hook at an interest rate of 1.35 %

Whereas; the power to prescribe the terms, forms and contents of such note is hereby delegated to Edward Blundell, Mayor of the Village of Red Hook. The Mayor of the Village of Red Hook is hereby directed to sign any note and ancillary documents issued pursuant to this resolution, and the Village Clerk Cynthia Chiarella is hereby directed to attest said signature and to affix to such notes the corporate seal of the Village of Red Hook.

The Village Board has indemnified 2015­2016 fiscal year line items that will be compiled as surplus and utilized to reduce the borrowing after the initial funds are disbursed.

DM Kovalchik made a motion to approve resolution 7­2016. Trustee Norris seconded this motion. All were in favor.

  • DM Kovalchik made a motion to authorize the 1999 Ford dump be decommissioned and declared surplus to the Absolute Auction. Trustee Trapp seconded. All were in favor. All lights etc. have been removed.

GENERAL BUSINESS

Public Hearing for the 2016­2017 budget will remain open and continue to April 21[st]

George Beekman stated he is not in favor of renewing the contract with Panda.

Trustee Zacharzuk made a motion to pay bills after audit. Trustee Norris seconded the motion. All were in favor.

DM Kovalchik made a motion to adjourn the meeting at 8:35. Trustee Norris seconded the motion. All were in favor.

Submitted by

Cynthia Chiarella

Changes between versions

2016-04-11→2016-04-11
substantive change+26 −7

The document title changed and the text was expanded to include full meeting minutes and additional motions.

  • Title changed from 'Salisbury Bank and Trust Company Line of Credit Note for Red Hook Village 2016 RAM Truck' to 'Resolution — Authorization of Line of Credit for 2016 RAM Truck Purchase'
  • Added motion to decommission and declare the 1999 Ford dump surplus for Absolute Auction
  • Added General Business section including notice that the 2016-2017 budget public hearing will continue to April 21st
  • Added record of meeting adjournment at 8:35 and various trustee motions regarding bill payments and contract opposition
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WHEREASResolution clauses: -dated April 11, 2016, authorizing the issuance of a note for $71,765.30 in the form of a commercial line of credit pursuant to the Local Finance Law, for the purpose of the purchase of anew 2016 RAM truck Whereas; the Village of Red Hook purchased from Robert Green Truck Inc. a 2016 RAM Dump truck; for the sole purpose of highway use. - Whereas; Salisbury Bank has a line of credit and offers that to the Village of Red Hook at an interest rate of 1.35 % - Whereas; the power to prescribe the terms, forms and contents of such note is hereby delegated to Edward Blundell, Mayor of the Village of Red Hook. The Mayor of the Village of Red Hook is hereby directed to sign any note and ancillary documents issued pursuant to this resolution, and the Village Clerk Cynthia Chiarella is hereby directed to attest said signature and to affix to such notes the corporate seal of the Village of Red Hook. - The Village Board has indemnified 2015-­2016 fiscal year line items that will be compiled as surplus and utilized to reduce the borrowing after the initial funds are disbursed. RESOLVED DM clauses: Kovalchik made a motion to approve resolution 7­2016. Trustee Norris seconded this motion. All were in favor. - AuthorizesDM Kovalchik made a motion to authorize the issuance1999 ofFord adump notebe fordecommissioned $71,765.30and indeclared the form of a commercial line of credit pursuantsurplus to the LocalAbsolute FinanceAuction. Trustee Law,Trapp seconded. All were in favor. All lights etc. have been removed. ## **GENERAL BUSINESS** Public Hearing for the purpose2016­2017 budget will remain open and continue to April 21[st] George Beekman stated he is not in favor of renewing the purchasecontract ofwith Panda. Trustee Zacharzuk made a newmotion 2016to RAMpay truckbills after audit. Trustee Norris seconded the motion. All were in favor. DM Kovalchik made a motion to adjourn the meeting at 8:35. Trustee Norris seconded the motion. All were in favor. Submitted by Cynthia Chiarella