2006-215COPY
2006-215
A Resolution Amending the Bond Resolution Dated May 12th, 2003, Authorizing the
Issuance of Not Exceeding $200,000 Serial Bonds of the Town of Wappinger, Dutchess
County, New York, to Pay the Cost of the Purchase of Various Equipment for Use by the
Highway Department and the Recreation Department, in and for Said Town.
At a regular meeting of the Town Board of the Town of Wappinger, Dutchess County,
New York, held at Town Hall, 20 Middlebush Road, Wappingers Falls, New York, on
September 25th, 2006.
The meeting was called to order by Joseph Ruggiero, Supervisor, and upon roll being
called, the following were present:
PRESENT: Supervisor
Councilmembers
ABSENT:
Joseph Ruggiero
Robert L. Valdati
Vincent F. Bettina
Joseph P. Paoloni
Maureen McCarthy
The following Resolution was introduced by Councilwoman McCarthy and seconded by
Councilman Valdati.
WHEREAS, all conditions precedent to the financing of the capital project hereinafter
described, including compliance with the provisions of the State Environmental Quality Review
Act, have been performed; and
WHEREAS, by a Bond Resolution dated May 12th, 2003, the Town Board of the Town of
Wappinger, Dutchess County, New York, authorized the issuance of not exceeding $200,000 serial
bonds of said Town to pay the cost of the purchase of various equipment for use by the highway
department and the recreation department in and for said Town, and determined that the period of
probable usefulness thereof is five years; and
WHEREAS, it has now been determined that it is in the financial interest of said Town to
amortize such serial bonds over a period in excess of five years, the period of probable usefulness of
certain of said class of objects or purposes being ten years and fifteen years in accordance with the
applicable provision of the Local Finance Law; and
WHEREAS, it is now desired to amend such bond resolution dated May 12th, 2003,
accordingly;
NOW, THEREFORE, BE IT RESOLVED, by the Town Board of the Town of
Wappinger, Dutchess County, New York, as follows:
Section 1. Section 3 of bond resolution dated May 12th, 2003, more fully described in
the preambles hereof, is hereby amended to read as follows:
"Section 3. It is hereby determined that the period
of probable usefulness of the aforesaid class of
objects or purposes is five years as to equipment
with a cost of $8,000 thereof, ten years as to
equipment with a cost of $22,000 thereof, and
fifteen years as to equipment with a cost of
$170,000 thereof, all pursuant to subdivision 28 of
paragraph a of Section 11.00 of the Local Finance
Law."
only if: Section 2. The validity of such bonds and bond anticipation notes may be contested
1) Such obligations are authorized for an object or purpose for which said Town is
not authorized to expend money, or
2) The provisions of law which should be complied with at the date of publication of
this resolution are not substantially complied with, and an action, suit or
proceeding contesting such validity is commenced within twenty days after the
date of such publication, or
3) Such obligations are authorized in violation of the provisions of the Constitution.
Section 3. Upon this resolution taking effect, the bond resolution of May 12th, 2003, as
herein amended, or a summary thereof, shall be published in full in the official newspaper of said
Town for such purpose, together with a notice of the Town Clerk in substantially the form provided
in Section 81.00 of the Local Finance Law.
Section 4. THIS RESOLUTION IS ADOPTED SUBJECT TO PERMISSIVE
REFERENDUM.
The foregoing was put to a vote which resulted as follows:
JOSEPH RUGGIERO, SUPERVISOR Voting: AYE
ROBERT L. VALDATI, COUNCILMAN Voting: AYE
VINCENT F. BETTINA, COUNCILMAN Voting: AYE
JOSEPH P. PAOLONI, COUNCILMAN Voting: AYE
MAUREEN McCARTHY, COUNCILWOMAN Voting: AYE
Dated: Wappingers Falls, New York
9/25/2006
The Resolution is hereby duly declared adopted.
4H C. ASTERSON, TOWN CLERK