HomeMy WebLinkAboutTB 2024-021 Authorize Expenditure from Bond Payment Reserve Fund for PWF clean 02-06-24MEETING OF THE ITHACA TOWN BOARD
February 12, 2024
TB Resolution 2024 -021:Authorizing the Expenditure of $104,700.10 from the Town of Ithaca Public Works Facility Office Expansion – 2020-A Bond Payment Reserve Fund
Whereas, by Resolution 2023-157 adopted on September 25, 2023, the Town Board established the Public Works Facility Office Expansion – 2020-A Bond Payment Reserve Fund (the “Reserve
Fund”)to accumulate money to pay the principal and interest related to the Town’s Public Works Facility Office Expansion project (the “Project”) included in the Series 2020-A Bond Issue,
and
Whereas,pursuant to General Municipal Law § 6-h, expenditures from such Reserve Fund may be made only with the approval of the Town Board,and
Whereas,the total of 2024 principal and interest payments under the Series 2020-A Bond Issue for the Project is One Hundred Four Thousand Seven Hundred Dollars and Ten Cents ($104,700.10),
now, therefore be it
Resolved,that the Town Board authorizes the expenditure of One Hundred Four Thousand Seven Hundred Dollars and Ten Cents ($104,700.10) from the Town of Ithaca Public Works Facility Office
Expansion – 2020-A Bond Payment Reserve Fund for the payment of said 2024 principal and interest for the Project.
Moved: Rod HoweSeconded: Eric Levine
Vote: ayes- Howe, DePaolo, Bleiwas, Levine, Gutenberger & Rosen