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RESOLUTION TO APPROVE CHIPS & HIGHWAY RESERVE FUNDING TOWARD NEW GARBAGE/LEAF TRUCK FINANCING

↑Meetings/Resolutions/1-2024
One-time (complete)formal_resolutionone_timeThe Village approves funding sources for the 2020 International Garbage/Leaf Truck purchased in August 2023 for $218,000, utilizing $29,000 from the Highway Reserve Fund and $39,000 from CHIPS funding (Acct A5110.3), with potential for additional funding sources before finalizing long-term financing.
First seen
2024-01-08
Latest event
2024-01-08
adopted
Expires
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Resolution text

RESOLVED

  1. that two sources of funding for the new Garbage/Leaf Truck will be as follows: $29,000 will be taken from the Highway Reserve Fund held at M&T Bank and $39,000 will be from CHIPS funding (Acct A5110.3)
  2. that further funding sources may be identified before finalizing the long-term financing
Show preamble — 3 WHEREAS clauses
  • WHEREAS, the purchase of the new Garbage/Leaf Truck (2020 International) cost $218,000
  • WHEREAS, this purchase was made in August of 2023 and was financed with a short term bond
  • WHEREAS, the Village had always intended to convert this short-term bond into longer term financing while reducing the total cost with other sources of funds

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Lifecycle (1 event)

2024-01-08adoptedvote: 4
Approve CHIPS and Highway Reserve Funding totaling $68,000 toward the financing of the new Garbage/Leaf Truck purchase.
moved by Bradley-Rickard · seconded by Appenzeller
Show text snapshot for this event
Resolved
  1. that two sources of funding for the new Garbage/Leaf Truck will be as follows: $29,000 will be taken from the Highway Reserve Fund held at M&T Bank and $39,000 will be from CHIPS funding (Acct A5110.3)
  2. that further funding sources may be identified before finalizing the long-term financing
Whereas
  • WHEREAS, the purchase of the new Garbage/Leaf Truck (2020 International) cost $218,000
  • WHEREAS, this purchase was made in August of 2023 and was financed with a short term bond
  • WHEREAS, the Village had always intended to convert this short-term bond into longer term financing while reducing the total cost with other sources of funds
Subject key: garbage_leaf_truck_financing