2020-71
2020-71
A Resolution Authorizing The Issuance Of Up To $5,566,000 Bonds Of The Town Of Wappinger,
Dutchess County, New York, To Pay The Cost Of The Increase And Improvement Of The Facilities Of
The Wildwood Sewer District, In The Town Of Wappinger, Dutchess County, New York
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 February 24, 2020.
The meeting was called to order by Richard Thurston, Town Supervisor, and upon roll being called, the
following was recorded:
Vote Record - Resolution RES-2020-71
Yes/Aye No/Nay Abstain Absent
Adopted
Richard Thurston Voter
Adopted as Amended
William H. Beale Seconder
Defeated
Angela Bettina Voter
Tabled
Christopher Phillips Mover
Withdrawn
Al Casella Voter
The following Resolution was introduced by Councilman Phillips and seconded by Councilman Beale.
WHEREAS, the capital project hereinafter described has been determined to be an “Unlisted Action”
pursuant to the regulations of the New York State Department of Environmental Conservation promulgated
pursuant to the State Environmental Quality Review Act, the implementation of which as proposed, it has been
determined will not result in any significant adverse environmental impacts; and
WHEREAS, pursuant to the provisions heretofore duly had and taken in accordance with the provisions
of Section 202-b of the Town Law, and more particularly an Order of even date herewith, said Town Board has
determined it to be in the public interest to improve the facilities of the Wildwood Sewer District, in the Town
of Wappinger, Dutchess County, New York, at a maximum estimated cost of $5,566,000; NOW,
THEREFORE, BE IT
RESOLVED, by the Town Board of the Town of Wappinger, Dutchess County, New York, as follows:
Section 1. For the specific object or purpose of paying the cost of the increase and improvement of
the Wildwood Sewer District, in the Town of Wappinger, Dutchess County, New York, consisting of the
construction of a pump station, force sewer main and sanitary sewer main from the existing Sewer Plant to the
Village of Wappingers Falls, including incidental improvements and expenses in connection therewith (which
include original furnishings, equipment, machinery, apparatus, appurtenances as proposed therefor), there are
hereby authorized to be issued up to $5,566,000 bonds of said Town pursuant to the provisions of the Local
Finance Law.
Section 2. It is hereby determined that the maximum estimated cost of the aforesaid specific object
or purpose is $5,566,000 and that the plan for the financing thereof is by the issuance of the $5,566,000 serial
bonds of said Town authorized to be issued pursuant to this bond resolution; PROVIDED, HOWEVER, that to
the extent that any grants-in-aid are received for such specific object or purpose, the amount of bonds to be
issued pursuant to this resolution shall be reduced dollar for dollar Section 3. It is hereby determined that
the period of probable usefulness of the aforesaid specific object or purpose 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. The faith and credit of said Town of Wappinger, Dutchess County, New York, are hereby
irrevocably pledged for the payment of the principal of and interest on such bonds as the same respectively
become due and payable. An annual appropriation shall be made in each year sufficient to pay the principal of
and interest on such bonds becoming due and payable in such year. To the extent not paid from monies raised
from said Wildwood Sewer District as applicable in the manner provided by law, there shall annually be levied
on all the taxable real property of said Town, a tax sufficient to pay the principal of and interest on such bonds
as the same become due and payable.
Section 5. 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 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, the Supervisor 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 his 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 specific object or purpose 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. The validity of such bonds and bond anticipation notes may be contested only if:
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 11. 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 12. This resolution, which takes effect immediately, shall be published in summary form in
the official newspaper, 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: Christopher Phillips, Councilman
SECONDER: William H. Beale, Councilman
AYES: Thurston, Beale, Bettina, Phillips, Casella
Dated: Wappingers Falls, New York
2/24/2020
The Resolution is hereby duly declared Adopted.
___________________________________________
JOSEPH P. PAOLONI, TOWN CLERK