2013-1642013-164
A Resolution Authorizing the Issuance of an Additional $195,000 Bonds of the Town of Wappinger,
Dutchess County, New York, to Pay Part of the Cost of the Increase and Improvement of the
Facilities of United Wappinger Sewer District in Said Town
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 June 24, 2013.
The meeting was called to order by Barbara Gutzler, Supervisor, and upon roll being called, the
following were present:
PRESENT: Supervisor - Barbara Gutzler
Councilmembers - William H. Beale
Vincent F. Bettina
Ismay Czarniecki
Michael Kuzmicz
ABSENT:
The following Resolution was introduced by Councilwoman Czarniecki and seconded by
Councilman Bettina.
WHEREAS, the Town Board of the Town of Wappinger, Dutchess County, New York, on
December 10, 2012, duly adopted a bond resolution authorizing the issuance of $385,000 serial bonds of
said Town to pay the cost of the increase and improvement of United Wappinger Sewer District, in and
for the Town of Wappinger, Dutchess County, New York, consisting of the District's share of the cost of
improvements to the Wappinger Creek Pump Station located at the corner of Market Street and
Franklindale Avenue in the Village of Wappingers Falls, New York, a facility of the Tri-Municipal Sewer
Commission, including original furnishings, equipment, machinery, apparatus, appurtenances and
incidental improvements and expenses in connection therewith, and
WHEREAS, it has now been determined that the maximum estimated cost of such specific
object or purpose is $580,000, an increase of $195,000 over that previously authorized; and
WHEREAS, it is now desired to authorize the issuance of an additional $195,000 bonds of said
Town for such specific object or purpose to pay a portion of the cost thereof;
NOW, THEREFORE,BE IT RESOLVED, by the affirmative vote of not less than two-thirds
of the total voting strength of the Town Board of the Town of Wappinger, Dutchess County, New York,
as follows:
Section 1. For the specific object or purpose of paying additional costs of the increase and
improvement of United Wappinger Sewer District, in said Town of Wappinger, Dutchess County, New
York, consisting of the District's share of the cost of improvements to the Wappinger Creek Pump Station
located at the corner of Market Street and Franklindale Avenue in the Village of Wappingers Falls, a
facility of Tri-Municipal Sewer Commission, including original furnishings, equipment, machinery,
apparatus, appurtenances and incidental improvements and expenses in connection therewith, there are
hereby authorized to be issued an additional $195,000 bonds of the Town of Wappinger, Dutchess
County, New York, pursuant to the provisions of the Local Finance Law.
Section 2. It is hereby determined that the maximum estimated cost of such specific object
or purpose is now determined to be $580,000, and that the plan for the financing thereof is as follows:
a) by the issuance of the $385,000 bonds of said Town authorized to be
Issued pursuant to bond resolution dated and duly adopted December 10, 2012;
and
b)by the issuance of the additional $195,000 bonds of said Town authorized to be
issued pursuant to this bond resolution.
Section 3. It is hereby determined that the period of probable usefulness of the aforesaid
specific object or purpose is forty years, pursuant to subdivision 1 of paragraph a of Section 11.00 of the
Local Finance Law, calculated from the date of issuance of the first obligation to be issued for said
specific object or purpose.
Section 4. The faith 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 obligations 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 obligations becoming due and payable in such year.
To the extent not paid from monies raised from said United Wappinger Sewer District, 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 obligations 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 serial bonds
.herein authorized, including renewals of such notes, is hereby delegated to the Supervisor. 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 powers and duties of advertising such bonds for sale, conducting the sale and
awarding the bonds, are hereby delegated to the Supervisor, who shall advertise such bonds for sale,
conduct the sale, and award the bonds in such manner as he shall deem best for the interests of said Town;
including, but not limited to, the power to sell said bonds to the New York State Environmental Facilities
Corporation; provided, however, that in the exercise of these delegated powers, she shall comply fully
with the provisions of the Local Finance Law and any order or rule of the State Comptroller applicable to
the sale of municipal bonds. The receipt of the Supervisor shall be a full acquittance to the purchaser of
such bonds, who shall not be obliged to see to the application of the purchase money.
Section 7. All other matters except as provided herein relating to the serial bonds herein
authorized including the dale, 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 serial 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 8. The Supervisor is hereby further authorized, in such officer's discretion, to
execute a project finance and/or loan agreement, and any other agreements with the New York State
Department of Environmental Conservation and/or the New York State Environmental Facilities
Corporation, including amendments thereto, and including any instruments (or amendments thereto) in
the effectuation thereof, in order to effect the fmancing or refinancing of the object or purpose described
in Section 1 hereof, or a portion thereof, by a bond, and/or note issue of said Town in the event of the sale
of same to the New York State Environmental Facilities Corporation.
Section 9. The power to issue and sell notes to the New York State Environmental Facilities
corporation pursuant to Section 169.00 of the Local Finance Law is hereby delegated to the Supervisor.
Such notes shall be of such terms, form and contents as may be prescribed by said Supervisor consistent
with the provisions of the Local Finance Law.
Section 10. The validity of such bonds and bond anticipation notes may be contested only i£
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 11. 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 12. This resolution, which takes effect immediately, shall be published in summary
form in 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 foregoing was put to a vote which resulted as follows:
BARBARA GUTZLER, SUPERVISOR Voting: AYE
WILLIAM H. BEALE, COUNCILMAN Voting: AYE
VINCENT F. BETTINA, COUNCILMAN Voting: AYE
ISMAY CZARNIECKI, COUNCILWOMAN Voting: AYE
MICHAEL KUZMICZ, COUNCILMAN Voting: AYE
Dated: Wappingers Falls, New York
6/24/2013
The Resolution is hereby duly declared adopted.
CHRISTINE FULTON, TOWN CLERK