2009-03-16
AC 973 (Rev. 7/85)
Cities under J25,000 population
Counties
Towns
Villages
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
MARCH 16, 2009
The following is a statement of the Town of Wappinger in the County of Dutchess, New York, to contract
indebtedness, and is prepared as of March 16, 2009, 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)
$
190,259,779
TOTAL NET INDEBTEDNESS
Total Inclusions (page 2)
Less: Total Exclusions (Page 3)
Total Net Indebtedness
$
32,770,000
10,941,621
21,828,379
$
NET DEBT-CONTRACTING MARGIN
Debt Limit (Above)
Less: Total Net Indebtedness (Above)
Net Debt-Contracting Margin
$
190,259,779
21,828,379
168,431,400
$
PERCENTAGE OF DEBT-CONTRACTING POWER EXHAUSTED
Divide "Total Net Indebtedness" by "Debt Limit" and enter result here
11.47%
PROPOSED BOND ISSUE
The amount of bonds proposed to be sold at public sale on March 25,2009
in connection with which this statement is made and filed is
$ 3,362,000
The amount of bond anticipation notes heretofore issued in anticipation
of the sale and issuance of such bonds and included at "Borrowings" at
Item I of Inclusions at page 2 is
3,505,000 (a)
$
(a) The Town will make $143,000 paydown before converting to bonds.
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
Decem ber 31 : Real Estate Rate
2005 $916,460,622 44.37%
2006 927,771,073 39.50
2007 932,997,449 35.00
2008 3,330,867,613 100.00
2009 3,177,728,468 100.00
(3)
Line
No.
Full Valuation of
Taxable Real Estate
(Column 1 - Column 2)
1
2
3
4
5
$2,066,893,599
2,348,787,526
2,665,706,997
3,330,867,613
3,177,728,468
6
Total of Lines 1 to 5 Inclusive
$13,589,984,203
7
Average Full Valuation (lI5 of Total of Column 3)
$2,717,996,841
INCLUSIONS
1.
Borrowings. Sec. 135.00(a)(I).
$
32,770,000
2.
Real Property Liabilities. Sec. 135.00(a)(2).
$
-0-
3.
Contract Liabilities. Sec. 135.00(a)(3).
$
-0-
4.
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 $ 32,770,000
2
GROSS JOINT INDEBTEDNESS
The aggregate gross amount of all joint indebtedness before apportionment of
allocation is $ NONE
EXCLUSIONS
l. Tax and Revenue Obligations. Sec. 136.00(1). $ -0-
2. Obligations Issued for other Capital Improvements. Sec. 136.00(1-a). $ -0-
3. Water Indebtedness. Sec. 136.00(2). $ 9,062,967
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 1,2014. 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. Sec 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). $ -O-
Il. Cash on Hand for Debts. Sec. 136.00(11). $ -0-
12. Appropriations. Sec. 136.00(12). $ 1,878,654
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 $ 10,941,621
3
PART 1.
Date of
Authorization
07-05-05*
0]-27-07
0] -27-07
05-27-03
05-27-03
] 0-09-07
The following obligations will be sold at the sale in connection with which this debt statement is filed:
SCHEDULE A
Type
Of Obli2ation
SB
SB
SB
SB
SB
SB
PART 2.
* Amended the resolution dated 01-26-04.
Date of
First Note
] 2- ]8-03
09-29-04
08-10-05
04-26-07
04-26-07
04-26-07
Amount
To be Sold
Object or Purpose
For Which Authorized
$],2]8,000
570,000
500,000
4] 5,000
209,000
450,000
$3,362,000
Joint Landfill
Carnwath Farms Reconstruction
Carnwath Farms Reconstruction
Road Resurfacing #]
Road Resurfacing #2
Highway Equipment
The following bond anticipation notes have been issued in anticipation of the bonds listed in PART]
above, and are now outstanding.
Amount
$],271,000
600,000
525,000
450,000
209,000
450,000
$3,505,000
Object or Purpose
For Which Authorized
Joint Landfill
Carnwath Farms Reconstruction
Carnwath Farms Reconstruction
Road Resurfacing #]
Road Resurfacing #2
Highway Equipment
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 I.
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 $ $4,905,000 Various Purposes
$ $4,905,000
Various Dates
VERIFICA TION BY CHIEF FISCAL OFFICER
State of New York
SS:
County of Dutchess
Chris Colsey 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, a d that as to thos atters he believes it
to be true.
Supervisor
Title
20 Middlebush Road
Wappingers Falls, NY 12590
Mail Address
Subscribed and sworn to before me
this ~ day of March 2009.
,'/Jt.l- .
~ ~ 27
. / /.." '
/' '/4LA,~' ~ M "
j Notary Public
BARBARA L. ROBERTI
Notary PubliC, State of New York
Reg. No.01R06130344
Dutchess County
My Commission Expires July 18, 2009
5
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 an executed Debt Statement of said Town, prepared as of
. 1ft
March 16, 2009, was duly filed III my office on the ~ day of March 2009.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of
.I~
said Town this l~ day of March 2009.
SjQ ,~
C;fJ~~
, Town Clerk