NOTICE OF ADOPTION OF RESOLUTION
NOTICE IS HEREBY GIVEN that the Town Board of the Town of Delaware, Sullivan County New York, at a meeting held on the 14th day of May, 2019, duly adopted the resolution published herewith SUBJECT TO A PERMISSIVE REFERENDUM.
Dated: Delaware, New York,
May 15, 2019.
BOND RESOLUTION DATED MAY 14, 2019.
A RESOLUTION AUTHORIZING THE CONSTRUCTION OF A NEW HIGHWAY DEPARTMENT COMPLEX ON A TOWN-OWNED SITE ALONG NYS 17B IN AND FOR THE TOWN OF DELAWARE, SULLIVAN COUNTY, NEW YORK, AT A MAXIMUM ESTIMATED COST OF $5,000,000 AND AUTHORIZING, SUBJECT TO PERMISSIVE REFERENDUM, THE ISSUANCE OF NOT EXCEEDING $5,000,000 BONDS OF SAID TOWN TO PAY PART OF THE COSTS THEREOF.
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 Delaware, Sullivan County, New York, as follows:
Section 1. The construction of a new highway department complex on a Town-owned site along NYS 17B in and for the Town of Delaware, Sullivan County, New York, including site improvements and installation of a new salt storage shed, is hereby authorized, subject to permissive referendum, at a maximum estimated cost of $5,000,000.
Section 2. SEQR DETERMINATION: The Town as lead agency has determined that the project constitutes an Unlisted Action under the State Environmental Quality Review Act and the regulations promulgated thereunder for which a negative declaration has been made in connection therewith
Section 3. The plan for the financing of the aforesaid maximum estimated cost is by the issuance of not exceeding $5,000,000 bonds of said Town, hereby authorized, to be issued therefor pursuant to the provisions of the Local Finance Law; provided, however, that the amount of bonds to be issued shall be reduced to the extent of grants received therefor.
Section 4. It is hereby determined that the period of probable usefulness of the aforesaid specific object or purpose is twenty-five years, pursuant to subdivision 11 of paragraph a of Section 11.00 of the Local Finance Law. It is hereby further determined that the maximum maturity of the bonds herein authorized will exceed five years.
Section 5. The faith and credit of said Town of Delaware, Sullivan 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 6. 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 7. 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 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 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 9. 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 10. Upon this resolution taking effect, the same 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.
Section 11. THIS RESOLUTION IS ADOPTED SUBJECT TO PERMISSIVE REFERENDUM.
TOWN OF DELAWARE
BOARD MEETINGS FOR 2019
PLEASE TAKE NOTICE that the Town of Delaware Town Board will conduct its regular meetings for 2019 at 7:00 p.m. on every second Wednesday of each month, or special meetings as requested by the Supervisor or the Town Board. Regular meetings of the Planning Board will be held on the third Wednesday of each month at 7:00 p.m.; and the Zoning Board of Appeals will meet on the fourth Thursday (on an as-needed basis) at 7:00 p.m. All Town of Delaware meetings will be held at the Town Municipal Building, 104 Main Street, Hortonville, NY unless otherwise indicated.
BY ORDER OF THE TOWN BOARD
DATED: January 10, 2019 Tess McBeath