HomeMy WebLinkAboutBond Anticipation Note 2019 0 No.311-1 $9,279,117
co
CUSIP No.844572 QX8
UNITED STATES OF AMERICA
STATE OF NEW YORK
COUNTY OF SUFFOLK
TOWN OF SOUTHOLD
BOND ANTICIPATION NOTE-2019
PRINCIPAL SUM: NINE MILLION TWO HUNDRED SEVENTY-NINE THOUSAND ONE HUNDRED
SEVENTEEN DOLLARS($9,279,117)
INTEREST RATE: Two per centum(2.00%)per annum
DATE OF ISSUE: September 24,2019
MATURITY DATE: September 24,2020
The Town of Southold, in the County of Suffolk, a municipal corporation of the State of New
York,hereby acknowledges itself indebted and for value received promises to pay to CEDE& CO.,the registered
owner, or registered assigns, the PRINCIPAL SUM (stated above) on the MATURITY DATE (stated above),
together with interest thereon from the DATE OF ISSUE (stated above) at the INTEREST RATE(stated above),
payable at maturity.Both principal of and interest on this Note will be paid in lawful money of the United States of
America,at Office of the Town Clerk,Town of Southold,Town Hall,53095 Route 25,Southold,New York.
Unless this certificate is presented by an authorized representative of The Depository Trust
Company to the issuer or its agent for registration of transfer, exchange or payment and any certificate issued is
registered in the name of Cede & Co. or such other name as requested by an authorized representative of The
Depository Trust Company and any payment is made to Cede& Co., ANY TRANSFER,PLEDGE OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the
registered owner hereof,Cede&Co.,has an interest herein.
This Note is the only note of an authorized combined new and renewal issue, the aggregate
principal amount of which is$9,279,117.
This Note is issued pursuant to the provisions of the Local Finance Law,constituting Chapter 33-
a of the Consolidated Laws of the State of New York,various bond resolutions adopted by the Town Board on their
respective dates, authorizing the issuance of bonds for various projects in and for the Town, and the Certificate of
Determination executed by the Supervisor as of September 24,2019,
The Town has designated this Note as a qualified tax-exempt obligation pursuant to the provisions
of Section 265 of the Internal Revenue Code of 1986,as amended.
The faith and credit of such Town are hereby irrevocably pledged for the punctual payment of the
principal of and interest on this Note according to its terms.
It is hereby certified and recited that all conditions, acts and things required by the Constitution
and statutes of the State of New York to exist to have happened and to have been performed precedent to and in the
issuance of this Note, exist, have happened and have been performed, and that this Note, together with all other
indebtedness of such Town, is within every debt and other limit prescribed by the Constitution and laws of such
State.
IN WITNESS WHEREOF, the Town of Southold has caused this Note to be signed by its
Supervisor,and its corporate seal or a facsimile thereof)to be affixed, imprinted, engraved or otherwise reproduced
hereon and attested by its Town Clerk and this Note to be dated as of the DATE OF ISSUE.
WN OF SOUTHOLD
(SEAL)
C
B
Supervisor
5r
0
own Clerk
P
91
DELARELD&WOOD LLP
PHONE(212)820-9300 7 WORLD TRADE CENTER NEW YORK
FAX (212) 514-8425 250 GREENWICH STREET WASHINGTON
NEW YORK, NY 10007-2442 NEWARK
WWW.HAWKINS.COM HARTFORD
LOS ANGELES
(212) 820-9662 September 12, 2019 SANKAMENTO FRANCISCO
PORTLAND
ANN ARBOR
Town of Southold,New York
$9,279,117 Bond Anticipation Note-2019
(Our File Designation: 2615/41419)
Kristie Hansen-Hightower, CPA
Comptroller
Town of Southold
54375 Main Road
Southold,New York 11971
Dear Kristie:
In connection with the delivery of the $9,279,117 Bond Anticipation Note-2019
of the Town of Southold, New York, and based upon information supplied to us by Munistat
Services, Inc., we have prepared and enclose herewith for completion and execution:
1. Certificate of Determination, to be executed by Scott A. Russell, as the
Supervisor. The Clerk's Certificate attached thereto is to be signed and sealed by Elizabeth A.
Neville, as the Town Clerk. A copy of this Certificate must be filed in the Office of the Town
Clerk on or before September 24, 2019.
2. Certificates as to Signatures, Litigation and Delivery and Payment, to be
signed and sealed where indicated by the Supervisor, the Town Clerk and William Duffy, Esq.,
as the Town Attorney.
3. Undertaking to Provide Notices of Events,to be executed by the Supervisor.
4. Signature page only to the Tax Certificate to be executed by the Supervisor.
The final Tax Certificate will be sent to you for your review upon its completion.
5. Certificate With Respect to the Official Statement, to be sealed and signed
by the Supervisor.
6. Information Return (Form 8038-G), to be executed by the Supervisor.
Please be sure to verify the Town's federal employer identification number entered in item#2 on
the return. We will complete this return and attend to its filing.
7. One (1) printed border book-entry note in the principal amount of
$9,279,117 ready for execution by the Supervisor and Town Clerk, and sealing.
7
PLEASE RETURN ALL COPIES OF THE FOREGOING ITEMS (except
the one copy of item 1 that should be retained by the Town Clerk) TO ME AS SOON AS
POSSIBLE BUT NO LATER THAN MONDAY, SEPTEMBER 22, 2019. WE MUST
DELIVER THE NOTE TO THE DEPOSITORY TRUST COMPANY (in Jersey City, New
Jersey) BY TUESDAY, SEPTEMBER 23,2019.
Unless other arrangements are made, we expect the closing to take place at
approximately 11:00 o'clock(a.m.) at our offices at 7 World Trade Center, 250 Greenwich Street
(41St Floor) in New York on September 24, 2019.
If you have any questions or concerns regarding the enclosed items or any
instructions or arrangements,please do not hesitate to contact us.
With all best wishes, I am
Very truly yours,
Robert P. Smith
V
RPS/ml
Enclosures
f
3385234.1 041419 CLD