2012-202
2012-202
A Resolution Authorizing the Cost of Engineering and Design Studies for the
Establishment of Extension No.2 to the United Wappinger Water District, in and for the
Town of Wappinger, Dutchess County, New York, at a Maximum Estimated Cost of
$350,000 , and Authorizing the Issuance of Up to $350,000 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 9,
2012.
The meeting was called to order by Barbara Gutzler, Supervisor, and upon roll being
called, the following were present:
PRESENT: Supervisor
Councilmembers
Barbara Gutzler
William H. Beale
Vincent F. Bettina
Ismay Czarniecki
Michael Kuzmicz
ABSENT:
The following Resolution was introduced by Councilman Bettina and seconded by
Councilman Beale.
WHEREAS, all conditions precedent to the financing of the object or purpose
hereinafter described, including compliance with the provisions of the State Environmental
Quality Review Act, have been performed; and
WHEREAS, the capital project hereinafter described has been determined to be a Type
II Action pursuant to the regulations of the New York State Department of Environmental
Conservation promulgated pursuant to the State :gnvironmental Quality Review Act, the
implementation of which as proposed, the regulations provide will not result in any significant
environmental effects; and
WHEREAS, it is now desired to authorize the fmancing thereof;
NOW, THEREFORE, BE IT RESOLVED, by the Town Board of the Town of
Wappinger, Dutchess County, New York, as follows:
Section 1. The cost of engineering and design studies for the establishment of
Extension No.2 to the United Wappinger Water District, in and for the Town of Wappinger,
Dutchess County, New York, including incidental expenses related thereto, is hereby authorized
at a maximum estimated cost of $350,000.
Section 2. The plan for the financing of the aforesaid maximum estimated cost is by
the issuance of not exceeding $350,000 bonds of said Town, hereby authorized to be issued
therefore 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 five years, pursuant to subdivision 62(2nd) 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 not 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 other sources, there shall annually be levied on
all the taxable real property in 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
bonds herein authorized, including renewals of such notes, is hereby delegated to the Supervisor
of said Town, 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. All other matters except as provided herein relating to the 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 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 7. 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
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 8. 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 9. This resolution, which takes effect immediately, shall be published in
summary form in the official newspaper of said 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.
2.
The foregoing was put to a vote which resulted as follows:
BARBARA GUTZLER, SUPERVISOR
WILLIAM H. BEALE, COUNCILMAN
VINCENT F. BETTINA, COUNCILMAN
ISMA Y CZARNIECKI, COUNCILWOMAN
MICHAEL KUZMICZ, COUNCILMAN
Voting:
Voting:
Voting:
Voting:
Voting:
AYE
AYE
AYE
AYE
AYE
Dated: Wappingers Falls, New York
7/9/2012
The Resolution is hereby duly declared adopted.
~~~
CHRISTINE FULTON, TOWN CLERK