Resolution Authorizing
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meeting of the Town Board of the Town
of Wappinger, Dutchess County, New York, held at \\"".\',..;-"\\~,,..! ,
in ~'Pf' ra.\\S , New York, in said Town, on the ~day of \..)(..,(.1/'
1972, at A:Q:) o'clock .:E:..-.M., Eastern I?aylight Savings Time.
The meeting was called to order by .~t)~)Q.(,lJ\~( DI.~\\\
and upon roll being called, the following were:
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PRESENT:
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ABSENT:
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The following resolution was offered by Councilman \~ C) \,\
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who mved its adoption, seconded by Councilman
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BOND RESOLUTION DATED '-~4u~1"' \~, 1972
A RESOLUTION AUTHORIZING THE ISSUANCE OF $3,963,320 SERIAL
BONDS OF THE TOWN OF WAPPINGER, DUTCHESS COUNTY, NEW YORK,
TO PAY THE COST OF IMPROVEMENTS IN AND FOR WAPPINGER SEWER
IMPROVEMENT NO. 1 IN SAID TOWN.
WHEREAS, by proceedings heretofore had and taken under Article l2-C
of the Town Law and more particularly an approving order of the State
Comptroller dated November 30, 1971, and an order of this Town Board
dated May 25, 1971, a Town improvement designated Wappinger Sewer
Improvement No. 1 has heretofore been authorized in and for the Town
of Wappinger, Dutchess County, New York, and
WHEREAS, it is now desired to authorize the construction of such
improvements and the financing thereof, NOW, THEREFORE, BE IT
RESOLVED, by the Town Board of the Town of Wappinger, Dutchess County,
New York, as follows:
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Section 1. The specific object or purpose for which the
serial bonds herein authorized are to be issued is the construction
of improvements in and for Wappinger Sewer Improvement No.1 in
said Town consisting of." <<;:~Q~..H't" (J)G\:(,\,a.nJ l...'H\C$
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together with original furnishings, equipment, machinery and apparatus
necessary therefor.
Section 2. The maximum estimated cost of such specific object
or purpose is $3,963,320 and the plan for the financing thereof
is by the issuance of $3,963,320 serial bonds of said Town, hereby
authorized to be issued pursuant to the Local Finance Law.
Seotion 3. It is hereby determined that the period of probable
usefulness of the aforesaid specific object or purpose is 40 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 f."ive
years.
Section 4. The f."aith 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. There shall be annually apportioned
and assessed upon the several lots and parcels of." land within
said Wappinger Sewer Improvement No. 1 which the Town Board shall
determine and specify to be especially benefited by the improve-
ment, 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 5. Subject to the provisions of the Local Finance
Law, the power to authorize the issuance of and to sell bond anticipation
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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 validity of such bonds may be contested only if:
1) Such bonds 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 publication, or
3) Such bonds are authorized in violation of the provisions
of the Constitution.
Section 7. This resolution, which takes effect immediately, shall
be published in full in
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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 question of the adoption of the foregoing resolution was duly
put to a vote on roll call, which resulted as follows:
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VOTING
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The resolution was thereupon declared duly adopted.
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STATE OF NEW YORK )
) SS . :
COUNTY OF DUTCHESS)
I, the undersigned Clerk of the Town of Wappinger, Dutchess
County, New York, DO HEREBY CERTIFY:
That I have compared the foregoing copy of the minutes of the
meeting of the Town Board of said Town, including the resolution
contained therein, held on the
day of
, 1972, with
the original thereof on file in my office, and that the same is a true
and correct copy of said original and of the whole of said original
so far as the same relates to the subject matters therein referred to.
I FURTHER CERTIFY that all members of said Board had due notice
of said meeting.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
seal of said Town this
day of
, 1972.
Town Clerk