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2008-2122008-212 A Resolution Authorizing, Subject to Permissive Referendum, the Purchase of Technology Equipment and Software for Accounting, Financial Management and related use in and for the Town of Wappinger, Dutchess County, New York, at an Aggregate Maximum Estimated cost of $63,500 and Authorizing the Issuance of $63,500 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 23, 2008. The meeting was called to order by Christopher Colsey, Supervisor, and upon roll being called, the following were present: PRESENT: Supervisor - Christopher J. Colsey Councilmembers - William H. Beale Vincent F. Bettina Joseph P. Paoloni ABSENT: Maureen McCarthy The following Resolution was introduced by Councilman Beale and seconded by Councilman Bettina. BE IT RESOLVED, by the Town Board of the Town of Wappinger, Dutchess County, New York, as follows: Section 1. The following purchases of technology equipment and software are hereby authorized in and for the Town of Wappinger, Dutchess County, New York: a) The purchase of servers and laptops, including original equipment, machinery, and apparatus for technology purposes, including incidental equipment and expenses, at an aggregate maximum estimated cost of $18,500. It is hereby determined that the plan for the financing of such class of objects or purposes shall consist of the issuance of $18,500 serial bonds of the $63,500 and serial bonds authorized to be issued therefor pursuant to this bond resolution. It is hereby determined that the period of probable usefulness of the aforesaid class of objects or purposes is ten years, pursuant to subdivision 81(a) of paragraph a of Section 11.00 of the Local Finance Law; and b) The purchase of computer software, including incidental equipment and expenses, at a maximum estimated cost of $45,000. It is hereby determined that the plan for the financing of such class of objects or purposes shall consist of the issuance of $45,000 serial bonds authorized to be issued therefor pursuant to this bond resolution. It is hereby determined that the period of probable usefulness of the aforesaid class of objects or purposes is five years, pursuant to subdivision 81(b) of paragraph a of Section 11.00 of the Local Finance Law; and Section 2. The total maximum estimated cost of the aforesaid objects or purposes is and, and the plan for the financing thereof is by the issuance of $63,500 Bonds of said Town hereby authorized to be issued therefor pursuant to the Local Finance Law, to be allocated in accordance with the maximum estimated cost of each set forth in Section 1 hereof. The maximum maturity of the serial bonds herein authorized for each of the above-described objects or purposes described in Section 1(a) hereof shall be ten years and in Section 1(b) hereof shall be five years. Section 3. 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 in said Town, a tax sufficient to pay the principal of and interest on such bonds as the same become due and payable. Section 4. 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 5. 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. 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 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 8. This resolution shall constitute a statement of official intent for use in and 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. Upon this resolution taking effect, the same shall be published in full or 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. Section 10. Pursuant to the provisions of Section 36.00 of the Local Finance Law, this resolution is adopted subject to permissive referendum. The foregoing was put to a vote which resulted as follows: CHRISTOPHER COLSEY, SUPERVISOR Voting: AYE WILLIAM H. BEALE, COUNCILMAN Voting: AYE VINCENT F. BETTINA, COUNCILMAN Voting: AYE MAUREEN McCARTHY, COUNCILWOMAN Voting: ABSENT JOSEPH P. PAOLONI, COUNCILMAN Voting: AYE Dated: Wappingers Falls, New York 7/23/2008 D D The Resolution is hereby duly declared adopted. J7 C. MA TERSON, TOWN CLERK