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COUNTY OF SUFFOLK 2066
TOWN OF SOUTHOLD THE BRIDGEHAMPTON NATIONN. BLINK
RRIDGEHA FTON, NY
BOND ANTICIPATION NOTE FOR VARIOUS PU~)SIgS-2001
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 the bearer of this Note, or if it be registered,
the registered holder, the sum of ONE MILLION EIGHT HUNDRED EIGHTY-FIVE THOUSAND DOLLARS
($1,885,000) on the 13th day of September, 2002, together with interest thereon from the date hereof at the rate of two am
forty-seven hundredths per eentum (2.47%) per annmn, payable at maturity. Both principal of and interest on this Note
will be paid in lawful money of the United Slates of America, at The Bridgehampton National Bank, Southold Office,
Southold, New York.
At the request of the holder, the Town Clerk shall convert this Note into a registered Note by registering i
in the name of the holder in the books of the Town kept in the office of such Town Clerk and endorsing a certificate of such
registration hereon, a~er which both principal of and interest on this Note shall be payable only to the registered holder, his
legal representatives, successors or transferees. This Note shall then be transferable only upon presentation to such Town
Clerk with a written transfer of title and such Town Clerk shall thereupon register this Note in the name of the transferee in
his books and shah endorse a certificate of such registration hereon. Such transfer shall be dated, and signed by the
registered holder, or his legal representatives, and it shall be duly acknowledged or proved, or in the alternative the signature
thereto shall be certified as to its gennineness by an officer o~' a hank or trust company located and authorized to do business
in this State.
This Note is tile only N.te of an authorized combined renewal issue, thc aggregate principal axnount of
which is $1,885,000.
This Note is issued pursuant to tile 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 serial bonds for various purposes, and the Certificate of Determination executed by the Supervisor
on September 14, 2001.
This Note has been designated by the Town as a qualified tax-exempt obligation pursuant to the ' '
of Section 265 of the Internal Revenue Code of 1986. as amended.
The faith and credit of such Town of Southold are hereby irrevocably pledged for the pmtctual payment ol
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 t. have been performed precedent to and m the issuance of
this Note, exist, have happened and have been performed, and that this Note, together with all other indebtedness of such
Town of Southold, is within every debt and other limit prescribed by the Constitution and laws of such State.
IN WITNESS WHEREOF, the Town of Soutllold 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 14th day of September, 2001.
TOWN OF SOUTHOLD
REGISTRATION CERTIFICATE
It is hereby certified that the within Note has been registered as follows:
Date of Re~,istration Name of Registered Holder Registered by
AFFIDAVIT AS TO NO CONFLICT OF INTEREST
STATE OF NEW YORK )
:SS:
COUNTY OF SUFFOLK )
Elizabeth Neville, being duly sworn upon her oath
deposes and says:
1. I am the duly appointed, qualified and acting Town
Clerk of the Town of Southold, in the County of Suffolk, New York
(herein and in Schedule A annexed hereto called "Town");
2. That with respect to the contract of sale of the
Note of the Town described in the Certificate of Determination
executed by the Supervisor on the 14th day of September, 2001, to
the financial institution indicated in such Certificate, I have
made a careful inquiry of each officer and employee of the Town
having the power or duty to (a) negotiate, prepare, authorize or
approve the contract or authorize or approve payment thereunder,
(b) audit bills or claims under the contract, or (c) appoint an
officer or employee who has any of the powers or duties set forth
above, as to whether or not such officer or employee has an
interest (as defined pursuant to Article 18 of the General
Municipal Law) in such contract;
3. That upon information and belief, as a result of
such inquiry, no such officer or employee has any such interest
in said contract unless otherwise noted in Schedule A annexed
hereto and by this reference made a part hereof.
Town Ci~-
Subscribed and sworn to before me
~hys 14th day of S~t~er, 2001.
~ot~ Public, State of New York
LYNDA M. BOHN
NOTARY PUBLIC, State of New York
No. 01 BO6020932
Qualified in Suffolk Count&,_
Term Expires March 8, 20 ~
376995.1 015832 CERT
SCHEDULE A
1. , is a stockholder of the Purchaser
owning or controlling, directly or indirectly, less than five per
centum (5%) of the outstanding stock thereof but no disclosure of
such interest by said officer is required pursuant to said Law.
2. , has an interest in the Purchaser
solely by reason of employment as an officer or employee thereof,
but the remuneration of such employment will not be directly
affected as a result of said contract and the duties of such
employment do not directly involve the procurement, preparation
or performance of any such part of such contract.
3. , has publicly disclosed the
nature and extent of such interest in writing to the governing
board of the Town. Such written disclosure has been made a part
of and set forth in the official record of proceedings of the
Town.
376995.l 015832 CERT
CERTIFICATE OF DETERMINATION BY THE SUPERVISOR
RELATIVE TO AUTHORIZATION, SALE, ISSUANCE, FORM
AND CONTENTS OF THE $1,885,000 BOND ANTICIPATION
NOTE FOR V~RIOUS PURPOSES-2001 OF THE TOWN OF
SOUTHOLD, NEW YORK.
I, Jean W. Cochran, Supervisor of the Town of Southold,
New York (herein called the "Town"), HEREBY CERTIFY that pursuant
to the powers and duties delegated to me, the chief fiscal
officer of the Town, by the Town Board of the Town, pursuant to
the bond resolutions duly adopted and as referred to in
paragraphs 1 to 10, inclusive, hereof, and subject to the
limitations prescribed in said bond resolutions, I have made the
following determinations:
1. A bond anticipation note of the Town in the
principal amount of $70,000 shall be issued to renew, in part,
the $151,000 bond anticipation note dated September 15, 2000,
maturing September 14, 2001, and heretofore issued in
anticipation of the sale of the serial bonds authorized pursuant
to the bond resolution entitled:
"Bond Resolution of the Town of Southold, New
York, adopted April 15, 1997, authorizing the
acquisition and installation of computer
equipment, including software, in order to upgrade
the existing computer system of the Town; stating
the estimated maximum cost thereof is $400,000;
appropriating said amount therefor and authorizing
the issuance of $400,000 serial bonds of said Town
to finance said appropriation,"
duly adopted by the Town Board on the date therein referred to,
and the Certificate of Determination executed by the Supervisor
on September 15, 2000, the redemption of said $151,000 bond
anticipation note having been heretofore provided to the extent
of $81,000 from a source other than the proceeds of serial bonds.
2. A bond anticipation note of the Town in the
principal amount of $18,000 shall be issued to renew, in part,
the $36,000 bond anticipation note dated September 15, 2000,
maturing September 14, 2001, and heretofore issued in
anticipation of the sale of the serial bonds authorized pursuant
to the bond resolution entitled:
"Bond Resolution of the Town of Southold, New
York, adopted February 20, 1997, appropriating the
376995.1 015832 CERT
amount of $90,000 for the acquisition of a
payloader for the Southold Solid Waste Management
District, in said Town, stating the estimated
maximu/~ cost thereof is $90,000 and authorizing
the issuance of $90,000 serial bonds of said Town
to finance said appropriation,"
duly adopted by the Town Board on the date therein referred to,
and the Certificate of Determination executed by the Supervisor
on September 15, 2000, the redemption of said $36,000 bond
anticipation note having been heretofore provided to the extent
of $18,000 from a source other than the proceeds of serial bonds.
3. A bond-anticipation note of the Town in the
principal amount of $80,000 shall be issued to renew, in part,
the $122,000 bond anticipation note dated September 15, 2000,
maturing September 14, 2001, and heretofore issued in
anticipation of the sale of the serial bonds authorized pursuant
to the bond resolution entitled:
"Bond Resolution of the Town of Southold, New
York, adopted July 7, 1998, appropriating the
acquisition of the certain pierce or parcel of
land containing 13.85 acres, more or less, situate
on the west side of Peconic Lane, in the Town of
Southold, at the estimated maximum cost of
$210,000, including preliminary costs and costs
incidental thereto to the financing thereof in the
amount of $10,000, said land to be used for public
park purposes; appropriating $210,000 therefor and
authorizing the issuance of $210,000 serial bonds
of said Town to finance said appropriation,"
duly adopted by the Town Board on the date therein referred to,
and the Certificate of Determination executed by the Supervisor
on September 15, 2000, the redemption of said $122,000 bond
anticipation note having been heretofore provided to the extent
of $42,000 from a source other than the proceeds of serial bonds.
4. A bond anticipation note of the Town in the
principal amount of $64,000 shall be issued to renew, in part,
the $102,000 bond anticipation note dated September 15, 2000,
maturing September 14, 2001, and heretofore issued in
anticipation of the sale of the serial bonds authorized pursuant
to the bond resolution entitled:
"Bond Resolution of the Town of Southold, New
York, adopted May 12, 1998, authorizing the
acquisition and installation of a computer system
376995.1 015832 CERT
for use by the Police Department; stating the
estimated maximum cost thereof is $170,000;
appropriating said amoun~ therefor and authorizing
the issuance of $170,000 serial bonds of said
Town to financed said ~ppropriation,"
duly adopted by the Town Board on the date therein referred to,
and the Certificate of Determination executed by the Supervisor
on September 15, 2000, the redemption of said $102,000 bond
anticipation note having been heretofore provided to the extent
of $38,000 from a source other than the proceeds of serial bonds.
5. A bond anticipation note of the Town in the
principal amount of $224,000 shall be issued to renew, in part,
the $285,000 bond anticipation note dated September 15, 2000,
maturing September 14, 2001, and heretofore issued in
anticipation of the sale of the serial bonds authorized pursuant
to the bond resolution entitled:
"Bond Resolution of the Town of Southold, New
York, adopted April 11, 2000, authorizing the
acquisition and installation of a computer system
network, including hardware, software and
appurtenant equipment, machinery, apparatus and
furnishings, in Town offices; stating the
estimated maximum cost thereof is $335,000;
appropriating said amount therefor, including the
appropriation of $50,000 current funds and
authorizing the issuance of $285,000 serial bonds
of said Town to finance the balance of said
appropriation,"
duly adopted by the Town Board on the date therein referred to,
and the Certificate of Determination executed by the Supervisor
on September 15, 2000, the redemption of said $285,000 bond
anticipation note having been heretofore provided to the extent
of $61,000 from a source other than the proceeds of serial bonds.
6. A bond anticipation note of the Town in the
principal amount of $154,000 shall be issued to renew, in part,
the $192,500 bond anticipation note dated September 15, 2000,
maturing September 14, 2001, and heretofore issued in
anticipation of the sale of the serial bonds authorized pursuant
to the bond resolution entitled:
"Bond Resolution of the Town of Southold, New
York, adopted February 29, 2000, appropriating the
amount of $260,000 for the increase and
improvement of facilities of the Southold Solid
376995.[ 015832 CERT
Waste Management District, in said Town, including
the expenditure of $67,500 of available Town funds
to pay a part of said appropriation, and
authorizing the issuance of $192,500 serial bonds
of said Town to finance the balance of said
appropriation,"
duly adopted by the Town Board on the date therein referred to,
and the Certificate of Determination executed by the Supervisor
on September 15, 2000, the redemption of said $192,500 bond
anticipation note having been heretofore provided to the extent
of $38,500 from a source other than the proceeds of serial bonds.
7. A bond anticipation note of the Town in the
principal amount of $90,000 shall be issued in anticipation of
the sale of the serial bonds authorized pursuant to the bond
resolution entitled:
"Bond Resolution of the Town of Southold, New
York, adopted May 8, 2001, authorizing the
purchase of a catamaran patrol vessel to be used
by the Marine Division of the Town Police
Department, stating the estimated maximum cost
thereof is $90,000, appropriating said amount
therefor and authorizing the issuance of $90,000
serial bonds of said Town to finance said
appropriation,"
duly adopted by the Town Board on the date therein referred to.
8. A bond anticipation note of the Town in the
principal amount of $280,000 shall be issued in anticipation of
the sale of the serial bonds authorized pursuant to the bond
resolution entitled:
"Bond Resolution of the Town of Southold, New
York, adopted July 31, 2001, authorizing the
second phase of the original improvement and
embellishment of the new public park and
recreational area on the land containing 13.85
acres, more or less, on the west side of Peconic
Lane, heretofore acquired and now owned by and
situate in, said Town; stating the estimated
maximum cost thereof is $280,000, including
preliminary costs and costs incidental thereto and
to the financing thereof; appropriating said
amount therefor and authorizing the issuance of
$280,000 serial bonds of said Town to finance said
appropriation,"
376995.1 015832 CERT
duly adopted by the Town Board on the date therein referred to.
9. A bond anticipation note of the Town in the
principal amount of $330,000 shall be issued in anticipation of
the sale of the serial bonds authorized pursuant to the bond
resolution entitled:
"Bond Resolution of the Town of Southold, New
York, adopted July 31, 2001, appropriating
$330,000 to defray costs and expenses of the
Suffolk County Water Authority associated with the
extension of Authority water mains into a portion
of Cutchogue, in the Town, stating the estimated
maximum cost thereof is $330,000 and authorizing
the issuance of $330,000 serial bonds of said Town
to finance said appropriation,"
duly adopted by the Town Board on the date therein referred to.
10. A bond anticipation note of the Town in the
principal amount of $575,000 shall be issued in anticipation of
the sale of the serial bonds authorized pursuant to the bond
resolution entitled:
"Bond Resolution of the Town of Southold, New
York, adopted July 31, 2001, appropriating the amount
of $8,000,000, including the amounts of any grants that
may be received from the United States and the State of
New York for the increase and improvement of the
facilities of the Fishers Island Ferry District, in
said Town and authorizing the issuance of serial bonds
of said Town in the principal amount of not to exceed
$4,800,000 to finance that portion of said
appropriation for which such grants are not available,"
duly adopted by the Town Board on the date therein referred to.
11. Said $70,000 note, said $64,000 note, said $80,000
note, said $18,000 note, said $224,000 note, said $154,000 note,
said $90,000 note, said $280,000 note, said $330,000 note and
said $575,000 shall be combined for the purpose of sale into a
single note issue in the aggregate principal amount of $1,885,000
(hereinafter referred to as the "Note").
12. The terms, form and details of said Note shall be
as follows:
/Lmount and Title:
$1,885,000 Bond A~nticipation Note
for Various Purposes-2001
3769~5. t 0~5832 CERT
Dated: September 14, 2001
Matures:
September 13, 2002
Number and
Denomination:
Number 4R-l, at $1,885,000
Interest Rate
per annum:
2.47%
Form of Note:
Substantially in accordance with
form prescribed by Schedule B, 2 of
the Local Finance Law of the State
of New York.
13. The amount of bond anticipation notes originally
issued in anticipation of the issuance of the serial bonds
authorized pursuant to the bond resolutions referred to in
paragraphs 1 to 10, inclusive, hereof, including the Note, is,
respectively, (1) $400,000, (2) $90,000 (3) $210,000, (4)
$170,000, (5) $285,000, (6) $192,500, (7) $90,000, (8) $280,000,
(9) $330,000 and (10) $575,000 and the amount of bond
anticipation notes which will be outstanding after the issuance
of the Note, including said Note, will be, respectively, (1)
$70,000, (2) $18,000, (3) $80,000, (4) $64,000, (5) $224,000, (6)
$154,000, (7) $90,000, (8) $280,000 (9) $330,000 and (10)
$575,000.
14. The serial bonds authorized pursuant to the
resolution referred to in paragraph 2, 6 and 10 hereof, are for
improvements which are assessable, and the serial bonds
authorized pursuant to the resolutions referred to in paragraphs
1, 3, 4, 5, 7, 8 and 9 hereof, are for improvements which are
non-assessable.
15. Pursuant to said powers and duties delegated to
me, I DO HEREBY AWARD AND SELL said Note to The Bridgehampton
National Bank, Southold Office, Southold, New York, for the
purchase price of $1,885,000, plus accrued interest, if any, from
the date of said Note to the date of delivery thereof and payment
therefor, and I FURTHER DETERMINE that said Note shall be payable
as to both principal and interest at The Bridgehampton National
Bank, Southold Office, Southold, New York, and shall bear
interest at the rate of two and forty-seven hundredths per centum
(2.47%) per annum, payable at maturity.
16. Said Note shall be executed in the name of the
Town by its Supervisor and the corporate seal of the Town (or a
376995.1 015532 CERT
facsimile thereof) shall be affixed, imprinted, engraved or
otherwise reproduced thereon and attested by its Town Clerk.
I HEREBY FURTHER CERTIFY that the powers and duties
delegated to me to issue and sell the Note hereinabove referred
to are in full force and effect and have not been modified,
amended or revoked.
IN WITNESS WHEREOF, I have hereunto set my hand this
14TM day of Septeraber, 2001.
Supervisor
376995.1 015832 CERT
CLERK'S CERTIFICATE
I, Elizabeth Neville, Town Clerk of the Town of
Southold, in the County of Suffolk, New York, HEREBY CERTIFY that
I have compared the foregoing copy of the Certificate of
Determination executed by the Supervisor and the same is a true
and complete copy of the Certificate filed with said Town in my
office as Town Clerk on the 14~h day of September, 2001; and
I FURTHER CERTIFY that no resolution electing to
reassume any of the powers or duties mentioned in said
Certificate and delegated to the Supervisor by the resolutions
cited in said Certificate and exercised by the Supervisor has
been adopted by said Town Board.
IN WITNESS WHEREOF,
I have hereunto set my hand and
affixed the corporate seal of said
Town this 14th day of September,
2001.
(SEAL)
376995.1 015832 CERT
CERTIFICATES AS TO SIGNATURES, LITIGATION,
AND DELIVERY AND PAYMENT
WE, the undersigned officers of the Town of Southold,
in the County of Suffolk, a municipal corporation of the State of
New York and herein referred to as the "Town", HEREBY CERTIFY
that on or before September 14, 2001, we officially signed and
properly executed by manual signatures the $1,885,000 Bond
~knticipation Note for Various Purposes-2001 (the "Note") of the
Town, payable to bearer and otherwise described in Schedule A
annexed hereto and by this reference made a part hereof, and that
at the time of such signing and execution and on the date hereof
we were and are the duly chosen, qualified and acting officers of
the Town authorized to execute said Note and holding the
respective offices indicated by the titles set opposite our
signatures hereto for terms expiring on the respective dates set
opposite such titles.
WE FURTHER CERTIFY that no litigation of any nature is
now pending or threatened restraining or enjoining the issuance
or delivery of said Note or the levy or collection of any taxes
to pay the interest on or principal of said Note, or in any
manner questioning the authority or proceedings for the issuance
of said Note or for the levy or collection of said taxes, or
relating to said Note or affecting the validity thereof or the
levy or collection of said taxes, that neither the corporate
existence or boundaries of the Town nor the title of any of the
present officers thereof to their respective offices is being
contested, and that no authority or proceedings for the issuance
of said Note has or have been repealed, revoked or rescinded.
WE FURTHER CERTIFY that the seal which is impressed
upon this certificate has been affixed, impressed, imprinted or
otherwise reproduced upon said Note and is the legally adopted,
proper and only official corporate seal of the Town.
And, I, Jean W. Cochran, Supervisor, HEREBY FURTHER
CERTIFY that on September 14, 2001, I delivered, or caused to be
376995.1 015832 CERT
delivered, said Note to The Bridgehampton National Bank, Southold
Office, Southold, New York, the purchaser thereof, and that at
the time of such delivery of said Note, I received from said
purchaser the amount hereinbelow stated, in full payment for said
Note, computed as follows:
Price ...............................
Interest on said Note accrued to the
date of such delivery .............
Amount Received .....................
$1,885,000
$1,885,000
IN WITNESS WHEREOF, we have hereunto set our hands and
said corporate seal has hereunto been affixed this 14th day of
September, 2001.
Term of Office
Signature Expires Title
~....~...~...~.... December 31, 2001
ecember 31, 2001
Supervisor
Town Clerk
(SEAL)
I HEREBY CERTIFY that the signatures of the officers of
the above-named Town, which appear above, are true and genuine
and that I know said officers and know them to hold the
respective offices set opposite their signatures.
of
Main Road
Southold, NY 11971
(Name of Bank)
376995.1 015832 CERT
ATTORNEY'S CERTIFICATE
I, Gregory F. Yakaboski, HEREBY CERTIFY that I am a
licensed attorney at law of the State of New York, having offices
at 53095 Main Road, Southold, New York, and I am the duly chosen,
qualified and acting Town Attorney of the Town of Southold, in
the County of Suffolk, a municipal corporation of the State of.
New York and herein referred to as the "Town", that no litigation
of any nature is now pending or threatened restraining or
enjoining the issuance or delivery of the Note of the Town,
payable to bearer and otherwise described as set forth in
Schedule A annexed hereto and by this reference made a part
hereof or the levy or.collection of any taxes to pay the interest
on or principal of said Note, or in any manner questioning the
authority or proceedings for the issuance of said Note or for the
levy or collection of said taxes, or relating to said Note or
affecting the validity thereof or the levy or collection of said
taxes, that neither the corporate existence or boundaries of the
Town nor the title of any of the present officers thereof to
their respective offices is being contested, and that no
authority or proceedings for the issuance of said Note has or
have been repealed, revoked or rescinded.
IN WITNESS WHEREOF, I have hereunto set my hand this
14~h day of September, 2001.
376995.1 015832 CERT
SCHEDULE A
Amount and Title:
Dated:
Matures:
Number and
Denomination:
Interest Rate
per annum:
$1,885,000 Bond Anticipation Note
Various Purposes-2001
Septer~er 14, 2001
September 13, 2002
Number 4R-l, at $1,885,000
2.47%
for
376995.1 015832 CERT