HomeMy WebLinkAboutTB 2025-010 Authorize Expenditure from Bond Payment Reserve Fund for PWFMEETING OF THE ITHACA TOWN BOARD
January 13, 2025
TB Resolution 2025 -010:Authorizing the Expenditure of $103,005 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 2025 principal and interest payments under the Series 2020-A Bond Issue for the Project is One Hundred Three Thousand Five Dollars ($103,005), now, therefore be
it
Resolved,that the Town Board authorizes the expenditure of One Hundred Three Thousand Five Dollars ($103,005) from the Town of Ithaca Public Works Facility Office Expansion – 2020-A
Bond Payment Reserve Fund for the payment of said 2025principal and interest for the Project.
Moved: Rob RosenSeconded: Susie Gutenberger
Vote: ayes- Howe, DePaolo, Bleiwas, Levine, Gutenberger and Rosen