2024-1432024-143
A Resolution Authorizing The Issuance Of $10,116,000 Bonds Of The Town Of Wappinger,
Dutchess County, New York, To Pay The Cost Of The Increase And Improvement Of The
Facilities Of Mid -Point Park 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 June 10,
2024.
The meeting was called to order by Joseph D. Cavaccini, Town Supervisor, and upon roll
being called, the following was recorded:
✓ Vote Record - Resolution RES -2024-143
Yes/Aye
No/Nay
Abstain
Absent
2 Adopted
❑ Adopted as Amended
Joseph D. Cavaccini
Mover
Q
❑
❑
❑
❑ Defeated
William H. Beale
Voter
Q
❑
❑
❑
❑ Tabled
Angela Bettina
Voter
❑
❑
❑
Q
❑ Withdrawn
Christopher Phillips
Seconder
Q
❑
❑
❑
Al Casella
Mover
Q
❑
❑
❑
The following Resolution was introduced by Supervisor Cavaccini and seconded by
Councilman Phillips.
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 dated the date
hereof, said Town Board has determined it to be in the public interest to improve the facilities of
Mid -Point Park Sewer District, in the Town of Wappinger, Dutchess County, New York, at a
maximum estimated cost of $10,116,000; and
WHEREAS, said capital project hereinafter described, as proposed, 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 ("SEQRA"), the implementation of which as proposed it has been determined will not result
in any significant environmental impact; and
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 increase and
improvement of Mid -Point Park Sewer District, in the Town of Wappinger, Dutchess County,
New York, consisting of the construction of a new wastewater treatment plant at the existing
plant site, located at 63 Martin Drive, in Wappinger Falls, New York, together with
improvements to the sewer collection system, including original furnishings, equipment,
machinery, apparatus, appurtenances, and incidental improvements and expenses in connection
therewith as applicable, there are hereby authorized to be issued $10,116,000 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
class of objects or purposes is $10,116,000, which class of objects or purposes is hereby
authorized at said maximum estimated cost, and that the plan for the financing thereof is by the
issuance of the $10,116,000 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. 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 Mid -Point Park 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 he 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 the Supervisor's 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. 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: Joseph D. Cavaccini, Al Casella
SECONDER: Christopher Phillips, Councilman
AYES: Joseph D. Cavaccini, William H. Beale, Christopher Phillips, Al Casella
ABSENT: Angela Bettina
Dated: Wappingers Falls, New York
6/10/2024
The Resolution is hereby duly declared Adopted.
JOSEPH"P. PAOLONL TOWN CLERK