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2007-07-16 .. AC 973 (Rev. 7/85) Cities under 125,000 population Counties Towns Villages PJ::rt=t \I~'~ ..~ .I! it 2 0 2007 TOWN CLERK STATE OF NEW YORK OFFICE OF THE STATE COMPTROLLER ALBANY, NEW YORK 12236 DEBT STATEMENT OF TOWN OF WAPPINGER DUTCHESS COUNTY, NEW YORK PREPARED AS OF JULY 16, 2007 The following is a statement of the Town of Wappinger in the Connty of Dutchess, N ew York, to contract indebtedness, and is prepared as of July 16,2007, pursuant to Title 8, Article II of the Local Finance Law. DEBT LIMIT Counties (except Nassau), cities, towns and villages Multiply "Average Full Valuation" (page 2), Line 7 by .07 (Nassau County .10) $ 149,591,586 TOTAL NET INDEBTEDNESS Total Inclusions (page 2) Less: Total Exclusions (Page 3) Total Net Indebtedness $ 35,045,818 9,966,239 25,079,579 $ NET DEBT-CONTRACTING MARGIN Debt Limit (Above) Less: Total Net Indebtedness (Above) Net Debt-Contracting Margin $ 149,591,586 25,079,579 124,512,007 $ PERCENTAGE OF DEBT-CONTRACTING POWER EXHAUSTED Divide "Total Net Indebtedness" by "Debt Limit" and enter result here 16.77% PROPOSED BOND ISSUE The amount of bonds proposed to be sold at public sale on July 31, 2007 in connection with which this statement is made and filed is $ 11,580,000 The amount of bond anticipation notes heretofore issued in anticipation of the sale and issuance of such bonds and included at "Borrowings" at Item 1 of Inclusions at page 2 is 11,949,050 (a) $ (a) The Town will make $909,050 paydown before converting to bonds. Line No. 1. 2. 3. 4. STATEMENT OF TOTAL DEBT AVERAGE FULL VALUATION OF TAXABLE REAL ESTATE (Computation of Average Full Valuation Based on Last Five Completed Assessment Rolls) (1) (2) For Fiscal Taxable Assessed Final State Year Ending Valuation of Equalization December 31: Real Estate Rate 2003 $920,257,037 53.99% 2004 911,630,323 48.00 2005 916,460,622 44.37 2006 927,771,073 39.50 2007 932,997,449 35.00 (3) Full Valuation of Taxable Real Estate (Column 1 - Column 2) $ 1,704,495,345 1,899,229,839 2,066,893,599 2,348,787,526 2,665,706,997 1 2 3 4 5 6 Total of Lines 1 to 5 Inclusive $10,685,113,306 7 Average Full Valuation (1/5 of Total of Column 3) $2,137,022,661 INCLUSIONS Borrowings. Sec. 135.00(a)(I). $ 35,045,818 Real Property Liabilities. Sec. 135.00(a)(2). $ -0- Contract Liabilities. Sec. 135.00(a)(3). $ -0- Cities, Towns and Villages: Contract Liabilities: Housing Guarantees; Subsidies. Sec. 135.00( a)( 4),(a)( 4-a),(a)(4-b). $ -0- 5. Cities, Towns, Villages: State Loans to Certain Housing Authorities and Municipalities. Sec. 135.00(a)(5). $ -0- 6. Judgments, Claims, Awards and Determinations Sec. 135.00(a)(6). $ -0- 7. Cities, Towns, Villages: Indebtedness Contracted by Certain District Corporations. Sec. 135.00(a) (7). $ -0- 8. Indebtedness Contracted or incurred Pursuant to Article II, Title I-A of the Local Finance Law in relation to a Joint Service of Joint Water, Sewage, or Drainage Project: (a) Borrowings: Several Indebtedness. $ -0- (b) Borrowings: Allocated or Apportioned Joint Indebtedness. $ -0- (c) Real Property Liabilities. $ -0- (d) Contract Liabilities. $ -0- (e) Judgments, Claims, Awards and Determinations. $ -0- Total Inclusions $ 35,045,818 2 GROSS JOINT INDEBTEDNESS The aggregate gross amount of all joint indebtedness before apportionment of allocation is $ NONE EXCLUSIONS 1. Tax and Revenue Obligations. Sec. 136.00(1). $ -0- 2. Obligations Issued for other Capital Improvements. Sec. 136.00(I-a). $ -0- 3. Water Indebtedness. Sec. 136.00(2). $ 9,166,339 4. Indebtedness Contracted for Self-Liquidating Projects. Sec. 136.00(3). $ -O- S. Sewer Indebtedness Contracted on or after January 1, 1962, and prior to January 1, 2004. Sec.136.00(4-a). $ -0- 6. Bonds for Pensions. Sec. 136.00(4). $ -0- 7. Cities and Villages with Population of 5,000 or More: Indebtedness for Housing and Urban Renewal Purposes. Sec. 136.00(8). $ -0- 8. Towns and Villages with Population of Less than 5,000: Subsidies or Guarantees for Housing Purposes. See 136.00(9). $ -0- 9. Assets of Sinking Funds. Sec. 136.00(10). $ -0- 10. Refunded and Refunding bonds. Sec. 136.00(10-a)(10-b). $ -0- 11. Cash on Hand for Debts. Sec. 136.00(11). $ 799,900 12. Appropriations. Sec. 136.00(12). $ -0- 13. Cities Only: School Indebtedness. Sec. 136.00(13). $ -0- 14. (a) Several Indebtedness Contracted in relation to a Joint Water Project. Sec. 15.50. (b) Joint Indebtedness Contracted for such Purpose. $ -0- 15. (a) Several Indebtedness Contracted for a Joint Service and Excluded Pursuant to Local Finance Law, Sec. 15.20 and 123.00. (b) The Apportioned or Allocated Amount of any such Joint Indebtedness so Excluded. $ -0- 16. (a) Several Indebtedness Contracted for a Joint Sewage and/or Drainage Project and Excluded Pursuant to Local Finance Law, Sec. 123.00 and 124.10. (b) The Apportioned or Allocated Amount of any such Joint Indebtedness so Excluded. $ -0- Total Exclusions $ 9,966,239 3 PART 1. Date of Authorization 01-02-02 05-12-03 05-27-03 06-23-03 11-10-03 02-14-05 03-28-05 09-14-05 06-12-06 07-08-06 07-08-06 02-12-01 05-12-03 07-26-04 05-23-05 03-12-07 02-26-07 09-25-06 PART 2. Date of First Note 12-20-02 08-12-03 08-12-03 08-12-03 04-08-04 06-02-05 06-02-05 12-18-05 09-21-06 09-21-06 09-21-06 05-03-01 12-18-03 09-29-04 08-10-05 04-26-07 04-26-07 04-26-07 SCHEDULE A The following obligations will be sold at the sale in connection with which this debt statement is filed: Type Of Oblil!:ation SB SB SB SB SB SB SB SB SB SB SB SB SB SB SB SB SB SB Amount To be Sold $ 116,500 117,500 782,800 125,000 532,800 39,400 440,000 185,000 250,000 240,000 402,000 7,380,000 72,000 137,000 195,000 200,000 40,000 325,000 $11,580,000 Object or Purpose For Which Authorized Oakwood Knolls Water District Recycle Center Road Resurfacing Underground Fuel Tanks Wappinger Park Water District Dump Truck Widmer Road Underground Fuel Tanks Wappingers Sewer Improvement Area #5 Construction & Maint. Equipment Road Reconstruction Central Wappingers Water Highway Dept. Equipment Construction & Maint. Equipment No. Wappinger Water District United Wappinger Water Fuel Tank Replacement Carnwath Farms Emergency Work The following bond anticipation notes have been issued in anticipation of the bonds listed in PART 1 above, and are now outstanding. Amount $ 119,500 122,500 1,520,800 140,000 547,850 42,400 470,000 200,000 250,000 240,000 402,000 6,905,000 80,000 144,000 200,000 200,000 40,000 325,000 $11,949,050 Ob.ject or Purpose For Which Authorized Oakwood Knolls Water District Recycle Center Road Resurfacing Underground Fuel Tanks Wappinger Park Water District Dump Truck Widmer Road Underground Fuel Tanks Wappingers Sewer Improvement Area #5 Construction & Maint. Equipment Road Reconstruction Central Wappingers Water Highway Dept. Equipment Construction & Maint. Equipment No. Wappinger Water District United Wappinger Water Fuel Tank Replacement Carnwath Farms Emergency Work 4 SCHEDULE B PART 1. The following obligations are authorized, unissued and will be sold prior to the sale of the obligations listed in Schedule A, PART 1. Date Of Authorization Type Of Obligation Amount To be Issued Object or Purpose For which Authorized NONE PART 2. The following obligations are authorized, unissued and will not be sold prior to the sale of the obligations listed in Schedule A, PART 1. Date Of Authorization Type Amount Object or Purpose Of To be For which Obligation Issued Authorized SB $ 3,430,000 Various Purposes $ 3,430,000 Various Dates VERIFICATION BY CIDEF FISCAL OFFICER State of New York SS: County of Dutchess Joseph Ruggiero being duly sworn, deposes and says: That he is the duly appointed, qualified, and acting chief fiscal officer of the Town of Wappinger, New York; that he has prepared and read the foregoing debt statement and knows the contents thereof; that the same is true to his own knowledge except as to the matters therein stated to be alleged upon information and belief, and that as to those matters he believes it to be true. {jtr h <<- ~ s~~e . Supervisor Title 20 Middlebush Road Wappingers Falls, NY 12590 Mail Address Subscri~ld and sworn to before me this;RJ./ll day of July 2007. , --;r-- } 21 l!j}c ubUc N M^RI~. GILBRIDE otary P"blir., State 01 New York ~~~, No, OlGI5087374 Quatlfled In Dutchpss CO.lmtv . Commission Expires Nov. 3,~7 5 ST ATE OF NEW YORK ) ) ss.: COUNTY OF DUTCHESS) I, the undersigned Clerk of the Town of Wappinger, Dutchess County, New York, DO HEREBY CERTIFY that an executed Debt Statement of said Town, prepared as of .July 16, 2007, was duly filed in my office on the 20th day of July 2007. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said Town this 20th day of July 2007. \. ... "\ '", /1 ( , )tL C. jt{G~~~~~ L (TOWN SEAL)