Narrative of Resolution:
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RESOLUTION INTRODUCED BY EXECUTIVE COMMITTEE TO AUTHORIZE FUNDS TO BE TRANSFERRED TO THE SULLIVAN BROADBAND LOCAL DEVELOPMENT CORPORATION FOR FINANCIAL SUPPORT
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If Resolution requires expenditure of County Funds, provide the following information:
Amount to be authorized by Resolution: $1518.00
Are funds already budgeted? No
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RESOLUTION INTRODUCED BY EXECUTIVE COMMITTEE TO AUTHORIZE FUNDS TO BE TRANSFERRED TO THE SULLIVAN BROADBAND LOCAL DEVELOPMENT CORPORATION FOR FINANCIAL SUPPORT
WHEREAS, the Sullivan County Legislature (the “Legislature”), by Resolution 317-20, dated August 20, 2020, authorized the formation and incorporation of the Sullivan Broadband Local Development Corporation (the “Corporation”) under Section 1411 of the Not-For-Profit Corporation Law of the State of New York (the “LDC Act”); and
WHEREAS, the annual financial audit of the Corporation is required to be included in the County’s required annual financial report; and
WHEREAS, the Corporation is in need of financial support in order to assist them with the cost of the required annual financial audit; and
WHEREAS, The County of Sullivan agrees to provide the Corporation with funding for the necessary expense of the Corporation in an amount of $1,518.00;
NOW THEREFORE, BE IT RESOLVED, that the Sullivan County Legislature hereby authorizes the transfer of $1,518.00 to the Sullivan Broadband Local Development Corporation to assist in payment of their required annual financial audit.