2008-213D
COPY
2008-213
A Resolution Authorizing the Purchase of a Passenger Vehicle for the Town of Wappinger,
Dutchess County, New York, at a Maximum Estimated Cost of $8,000, and Authorizing the
Issuance of $8,000 Bonds of Said Town to Pay the Cost Thereof.
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 July 23,
2008.
The meeting was called to order by Christopher Colsey, Supervisor, and upon roll being
called, the following were present:
PRESENT: Supervisor
Councilmembers
ABSENT:
Christopher J. Colsey
William H. Beale
Vincent F. Bettina
Joseph P. Paoloni
Maureen McCarthy
The following Resolution was introduced by Councilman Bettina and seconded by
Councilman Beale.
BE IT RESOLVED, by the Town Board of the Town of Wappinger, Dutchess County,
New York, as follows:
Section 1. The specific object or purpose of paying the cost of the purchase of a
passenger vehicle for the Town of Wappinger, Dutchess County, New York, including incidental
equipment and expenses in connection therewith, is hereby authorized, at a maximum estimated
cost of $8,000.
Section 2. The plan for the financing of the aforesaid maximum estimated cost is by
the issuance of $8,000 bonds of said Town hereby authorized to be issued therefor pursuant to
the provisions of the Local Finance Law.
Section 3. It is hereby determined that the period of probable usefulness of the
aforesaid specific object or purpose is three years, pursuant to subdivision 77 of paragraph a of
Section 11.00 of the Local Finance Law. It is hereby further determined that the maximum
maturity of the bonds herein authorized will not exceed five years, being limited to three years
bylaw.
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
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 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. 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
IV
and payable.
Section 6. All other matters, except as provided herein relating to such bonds,
including determining whether to issue such bonds having substantially level or declining annual
debt service and all matters related thereto, prescribing whether manual or facsimile signatures
shall appear on said bonds, prescribing the method for the recording of ownership of said bonds,
appointing the fiscal agent or agents for said bonds, providing for the printing and delivery of
said bonds (and if said bonds are to be executed in the name of the Town by the facsimile
signature of the Supervisor, providing for the manual countersignature of a fiscal agent or of a
designated official of the Town), the date, denominations, maturities and interest payment dates,
place or places of payment, and also including the consolidation with other issues, shall be
determined by the Supervisor. 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 52.00 of the Local Finance
Law, as the Supervisor shall determine.
Section 7. 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 8. 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 9. This resolution shall be published in full or summary form in the official
newspaper of the 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 10. This resolution shall take effect immediately.
The foregoing was put to a vote which resulted as follows:
CHRISTOPHER COLSEY, SUPERVISOR Voting: AYE
WILLIAM H. BEALE, COUNCILMAN Voting: AYE
VINCENT F. BETTINA, COUNCILMAN Voting: AYE
MAUREEN McCARTHY, COUNCILWOMAN Voting: ABSENT
JOSEPH P. PAOLONI, COUNCILMAN Voting: AYE
Dated: Wappingers Falls, New York
7/23/2008
The Resolution is hereby duly declared adopted.
Q— CA—'L,
OHN C. M STERSON, TOWN CLERK