2007-2492007-249
A Resolution Authorizing the Issuance of Not Exceeding $300,000 Bonds of the Town of
Wappinger, Dutchess County, New York, to Pay the Cost of a Settled Claim In the Matter
of O'MARA V. TOWN OF WAPPINGER
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
November 26th, 2007.
The meeting was called to order by Joseph Paoloni, Deputy Supervisor, and upon roll
being called, the following were present:
PRESENT: Councilmembers
William H. Beale
Vincent F. Bettina
Joseph P. Paoloni
Maureen McCarthy
ABSENT: Supervisor - Joseph Ruggiero
The following Resolution was introduced by Councilwoman McCarthy and seconded by
Councilman Bettina.
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 the cost of a settled claim in
the matter of O'Mara v. Town of Wappinger, including incidental costs of issuance and expenses
in connection therewith, there are hereby authorized to be issued not exceeding $300,000 bonds
of said Town pursuant to the provisions of the Local Finance Law.
Section 2. It is hereby determined that the maximum estimated cost of the aforesaid
specific object or purpose is $300,000, and the plan for the financing thereof is by the issuance of
not exceeding $300,000 bonds of said Town herein authorized.
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 33(a) of paragraph a of
Section 11.00 of the Local Finance Law.
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. There shall annually be levied on all the taxable real property of 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,
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 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 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
2) The provisions of law which should be complied with as of 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 thereof in the official newspaper of said Town for such purpose, together with a
notice of the Town Clerk substantially in the form provided in Section 81.00 of the Local
Finance Law.
The foregoing was put to a vote which resulted as follows:
JOSEPH RUGGIERO, SUPERVISOR
Voting: ABSENT
WILLIAM H. BEALE, COUNCILMAN
Voting: AYE
VINCENT F. BETTINA, COUNCILMAN
Voting: AYE
JOSEPH P. PAOLONI, COUNCILMAN
Voting: AYE
MAUREEN McCARTHY, COUNCILWOMAN Voting: AYE
Dated: Wappingers Falls, New York
11/26/2007
The Resolution is hereby duly declared adopted.
CY C-7
7OHN C. MA9TERSON, TOWN CLERK