2010-3822010-382
Resolution Authorizing the Issuance of $316,000 Serial Bonds of the Town of Wappinger,
Dutchess County, New York, to Pay the Cost of the Establishment of United Wappinger
Sewer District, in and for 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 December
13, 2010.
The meeting was called to order by Christopher Colsey, Supervisor, and upon roll being
called, the following were present:
PRESENT: Supervisor
Councilmembers
ABSENT:
Christopher J. Colsey
William H. Beale (Arrived 7:02 PM)
Vincent F. Bettina
Ismay Czarniecki
Joseph P. Paoloni
The following Resolution was introduced by Councilman Beale and seconded by
Councilman Bettina.
WHEREAS, pursuant to proceedings heretofore had and taken in accordance with the
provisions of Article 12-A of the Town Law, and more particularly an Order of even date herewith,
the Town Board of the Town of Wappinger, Dutchess County, New York, has established United
Wappinger Sewer District, in the Town of Wappinger (the "Sewer District" or "District"); and
WHEREAS, the improvements for said Sewer District shall consist of said District's share of
the cost of the construction of improvements at the Tri -Municipal Wastewater Treatment Plant
relating to water removal of sludge thereat, including original equipment, machinery, apparatus,
appurtenances, and incidental improvements and expenses in connection thereto, as more fully
described in the map, plan and report prepared in connection with the improvements of such District.
WHEREAS, the maximum amount proposed to be expended by the Sewer District for said
improvements is $316,000; and
WHEREAS, said capital project 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 Environmental Quality Review Act, the implementation of which as proposed, will not
result in any significant environmental effects; and
WHEREAS, it is now desired to authorize the financing of said improvements proposed for
said District;
NOW, THEREFORE, BE IT RESOLVED, by the Town Board of the Town of
Wappinger, Dutchess County, New York, as follows:
Section 1. The improvements proposed for said United Wappinger Sewer District which
consist of said District's share of the cost of the construction at the Tri -Municipal Wastewater
Treatment Plant relating to water removal of sludge thereat, including original equipment,
machinery, apparatus, appurtenances, and incidental improvements and expenses in connection
thereto, as more fully described in the map, plan and report prepared in connection are hereby
authorized at a maximum estimated cost of $316,000
Section 2. It is hereby determined that the plan for the financing of said specific object
or purpose shall consist of the issuance of $316,000 serial bonds of said Town hereby authorized to
be issued 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 40 years, pursuant to subdivision 4 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 exceed five years.
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 bonds as
the same respectively become due and payable. There shall be annually assessed upon and collected
from the several lots and parcels of land within said United Wappinger Sewer District which the
Town Board shall determine and specify to be especially benefitted by the improvements, an amount
sufficient to pay the principal and interest on said bonds as the same become due, but if not paid from
such source, all the taxable real property in said Town shall be subject to the levy of ad valorem taxes
without limitation as to rate or amount sufficient to pay the principal of and interest on said bonds as
the same shall become due.
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, 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. 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
the Town, including, but not limited to, the power to sell said serial bonds to the New York State
Environmental Facilities Corporation, provided, however, that in the exercise of these delegated
powers, he 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 date, denomination, 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 5 1. 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, at his sole 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 financing or refinancing of the specific 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. All other matters, except as provided herein relating to such bonds, including
determining whether to issue such bonds having substantially level or declining annual debt service
and all matters related thereto, the date, denominations, maturities and interest payment dates, place
or places or payment, and also including the consolidation with other issues, shall be determined by
the Supervisor.
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.
if Section 12. The validity of such bonds and bond anticipation notes may be contested only
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 13. 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:
CHRISTOPHER COLSEY, SUPERVISOR
Voting:
AYE
WILLIAM H. BEALE, COUNCILMAN
Voting:
AYE
VINCENT F. BETTINA, COUNCILMAN
Voting:
AYE
ISMAY CZARNIECKI, COUNCILWOMAN
Voting:
AYE
JOSEPH P. PAOLONI, COUNCILMAN
Voting:
AYE
Dated: Wappingers Falls, New York
12/13/2010
The Resolution is hereby duly declared adopted.
ivHN C. MASTERSON, TOWN CLERK