2017-81 2017-81
A Resolution Authorizing The Issuance Of Not Exceeding $280,000 Serial Bonds Of The
Town Of Wappinger, Dutchess County, New York, To Pay The Cost Of Improvements To
The Mid Point Park Sewer District In 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 March 13,
2017.
The meeting was called to order by Lori A. Jiava, Town Supervisor, and upon roll being
called, the following was recorded:
✓Vote Record-Resolution RES-2017-81
Q Adopted Yes/Aye No/Nay Abstain Absent
❑ Adopted as Amended Lori A.Jiava Voter Q ❑ ❑ ❑
❑ Defeated William H.Beale Voter Q ❑ ❑ ❑
❑ Tabled William Ciccarelli Mover Q ❑ ❑ ❑
❑ Withdrawn John J.Fenton Voter Q ❑ ❑ ❑
Michael Kuzmicz Seconder Q ❑ ❑ ❑
The following Resolution was introduced by Councilman Ciccarelli and seconded by
Councilman Kuzmicz.
WHEREAS, pursuant to proceedings heretofore had and taken in accordance with the
provisions of Article 12-A of the Town Law, the Town Board of the Town of Wappinger, Dutchess
County, New York, has established the Mid Point Park Sewer District in the Town of Wappinger;
and
WHEREAS, the capital project hereinafter described has been determined to be a Type 11
Action pursuant to the regulations of the New York State Department of Environmental
Conservation promulgated pursuant to the State Environmental Quality Review Act, including 6
NYCRR Part 617.5(c)(2), (c)(5) and (c)(29), the implementation of which as proposed, the Town
Board as lead agency has determined will not result in any significant environmental impact; and
WHEREAS, it is now desired to authorize the financing of the improvements proposed for
such Sewer District;NOW, THEREFORE, BE IT
RESOLVED, by the Town Board of the Town of Wappinger, Dutchess County, New York,
as follows:
Section 1. For the class of objects or purposes of paying the cost of the improvements
in connection with the establishment of the Mid Point Park Sewer District, consisting of
improvements to the sewer collection system by sliplining or relining of gravity sewer main along
Gabriella Drive and in vicinity of the existing sewage treatment facility and related reconstruction
work, including original equipment, machinery, apparatus, appurtenances, and incidental
improvements and expenses in connection therewith, all as further described in the map, plan and
report prepared in connection with the establishment of such District, there are hereby authorized to
be issued not exceeding $280,000 serial bonds of the Town of Wappinger, Dutchess County, New
York pursuant to the provisions of the Local Finance Law.
Section 2. It is hereby determined that the maximum estimated cost of the
aforedescribed improvements is $280,000, which improvements are hereby authorized at said
maximum estimated cost, and that the plan for the financing thereof is by the issuance of not
exceeding $280,000 serial bonds of said Town authorized to be issued pursuant to this bond
resolution.
Section 3. It is hereby determined that the period of probable usefulness of the
aforesaid class of objects or purposes is forty years, pursuant to subdivision 4 of paragraph a of
Section 11.00 of the Local Finance Law. It is hereby further determined that the maximum maturity
of the serial bonds herein authorized will exceed five years.
Section 4. Subject to the provisions of the Local Finance Law, the power to authorize
the issuance of and to sell bond anticipation notes in anticipation of the issuance and sale of the
serial bonds herein authorized, including renewals of such notes, is hereby delegated to the
Supervisor, the chief fiscal officer. Such notes shall be of such terms, form and contents, and shall
be sold in such manner, as may be prescribed by said Supervisor, consistent with the provisions of
the Local Finance Law.
Section 5. The faith and credit of said Town of Wappinger, Dutchess County, New
York, are hereby irrevocably pledged to the payment of the principal of and interest on such bonds
as the same respectively become due and payable. To the extent not paid from other sources, there
shall be annually assessed upon and collected from the several lots and parcels of land within said
Mid Point Park Sewer District which the Town Board shall determine to be specially benefitted
thereby in proportion to the benefit derived therefrom in the manner so provided by law, an amount
sufficient to pay the principal and interest on said bonds as the same become due, but if not paid
from such source, all the taxable real property in said Town shall be subject to the levy of ad
valorem taxes without limitation as to rate or amount sufficient to pay the principal of and interest
on said bonds as the same shall become due.
Section 6. The powers and duties of advertising such bonds for sale, conducting the
sale and awarding the bonds, are hereby delegated to the Supervisor, who shall advertise such
bonds for sale, conduct the sale, and award the bonds in such manner as she shall deem best for
the interests of said Town, including, but not limited to, the power to sell said bonds to the New
York State Environmental Facilities Corporation;provided, however, that in the exercise of these
delegated powers, she shall comply fully with the provisions of the Local Finance Law and any
order or rule of the State Comptroller applicable to the sale of municipal bonds. The receipt of
the Supervisor shall be a full acquittance to the purchaser of such bonds, who shall not be
obliged to see to the application of the purchase money.
Section 7. All other matters except as provided herein relating to the serial bonds
herein authorized including the date, denominations, maturities and interest payment dates,
within the limitations prescribed herein and the manner of execution of the same, including the
consolidation with other issues, and also the ability to issue serial bonds with substantially level
or declining annual debt service, shall be determined by the Supervisor, the chief fiscal officer of
such Town. Such bonds shall contain substantially the recital of validity clause provided for in
Section 52.00 of the Local Finance Law, and shall otherwise be in such form and contain such
recitals, in addition to those required by Section 51.00 of the Local Finance Law, as the
Supervisor shall determine consistent with the provisions of the Local Finance Law.
Section 8. The Supervisor is hereby further authorized, at her sole discretion, to
execute a project finance and/or loan agreement, and any other agreements with the New York
State Department of Environmental Conservation and/or the New York State Environmental
Facilities Corporation, including amendments thereto, and including any instruments (or
amendments thereto) in the effectuation thereof, in order to effect the financing or refinancing of
the class of objects or purposes described in Section 1 hereof, or a portion thereof, by a bond,
and/or note issue of said Town in the event of the sale of same to the New York State
Environmental Facilities Corporation.
Section 9. The power to issue and sell notes to the New York State Environmental
Facilities Corporation pursuant to Section 169.00 of the Local Finance Law is hereby delegated
to the Supervisor. Such notes shall be of such terms, form and contents as may be prescribed by
said Supervisor consistent with the provisions of the Local Finance Law.
Section 10. This resolution shall constitute a statement of official intent for purposes of
Treasury Regulations Section 1.150 - 2. Other than as specified in this resolution, no monies are, or
are reasonably expected to be, reserved, allocated on a long-term basis, or otherwise set aside with
respect to the permanent funding of the object or purpose described herein.
Section 11. The validity of such bonds and bond anticipation notes may be contested
only if-
1)
£ 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 12. This resolution,which takes effect immediately, shall be published in
summary form 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.
The foregoing was put to a vote which resulted as follows:
RESULT: ADOPTED [UNANIMOUS]
MOVER: William Ciccarelli, Councilman
SECONDER: Michael Kuzmicz, Councilman
AYES: Jiava, Beale, Ciccarelli, Fenton, Kuzmicz
Dated: Wappingers Falls, New York
3/13/2017
The Resolution is hereby duly declared Adopted.
JOSS P P. PAOLONI, TOWN CLERK