Red Hook WatchIndependent Community Resource

ELECTRIC VEHICLE CHARGING STATION – FUNDING STATEMENT WITH RESOLUTION – Line of Credit and Grant

↑Meetings/Resolutions/15-2018
One-time (complete)formal_resolutionone_timeAuthorizes the village Treasurer to utilize the Salisbury Bank line of credit at 1.88% interest up to $12,500 to pay for the PlugIn Stations Charge Point CT 4021 installation and related costs, with the understanding that DEC grant reimbursement will be used to pay down the line of credit to zero.
First seen
2018-06-21
Latest event
2018-06-21
adopted
Expires
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Resolution text

RESOLVED

  1. the village Treasurer is authorized to utilize the line of credit from Salisbury Bank to pay the direct costs. The Mayor and/or Treasurer are authorized to exercise the line of credit up to the amount of the installation and materials costs, up to $12,500. With line of credit option utilized, the Village will use grant receipt amounts to pay down the line of credit accordingly and reduce the amount borrowed from Salisbury Bank to a $0 balance for this activity.
Show preamble — 5 WHEREAS clauses
  • WHEREAS, the Village of Red Hook Board has received the NYS DEC grant to install an electric vehicle charging station, researched and reviewed options with it's engineer, and complied with purchasing standards.
  • WHEREAS, the village selected PlugIn Stations on Line to supply and install a Charge Point CT 4021 and related costs/components for a cost of $9,566.00.
  • WHEREAS, the Village will utilize its Highway Department staff for excavation and trenching, including purchase and installation of conduit with wiring, protective bollards and signage, at its cost, for the grant reimbursement or "in-kind" matching requirements;
  • WHEREAS, the DEC grant is a reimbursement style grant and the Village will incur the costs and then submit for payment to DEC;
  • WHEREAS, the Village also has a line of credit with Salisbury Bank at 1.88% interest;

Lifecycle (1 event)

2018-06-21adoptedvote: unanimous
Authorize the village Treasurer to utilize a line of credit from Salisbury Bank up to $12,500 to pay for the direct costs of the electric vehicle charging station installation, with grant reimbursement to be applied to pay down the line of credit.
moved by Blundell · seconded by Kovalchik
Show text snapshot for this event
Resolved
  1. the village Treasurer is authorized to utilize the line of credit from Salisbury Bank to pay the direct costs. The Mayor and/or Treasurer are authorized to exercise the line of credit up to the amount of the installation and materials costs, up to $12,500. With line of credit option utilized, the Village will use grant receipt amounts to pay down the line of credit accordingly and reduce the amount borrowed from Salisbury Bank to a $0 balance for this activity.
Whereas
  • WHEREAS, the Village of Red Hook Board has received the NYS DEC grant to install an electric vehicle charging station, researched and reviewed options with it's engineer, and complied with purchasing standards.
  • WHEREAS, the village selected PlugIn Stations on Line to supply and install a Charge Point CT 4021 and related costs/components for a cost of $9,566.00.
  • WHEREAS, the Village will utilize its Highway Department staff for excavation and trenching, including purchase and installation of conduit with wiring, protective bollards and signage, at its cost, for the grant reimbursement or "in-kind" matching requirements;
  • WHEREAS, the DEC grant is a reimbursement style grant and the Village will incur the costs and then submit for payment to DEC;
  • WHEREAS, the Village also has a line of credit with Salisbury Bank at 1.88% interest;
Subject key: ev_charging_station_funding