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HomeMy WebLinkAboutVarious Purposes (2)No. 3R-I UNITED STATES OF AMERICA STATE OF NEW YORK COUNTY OF SUFFOLK TOWN OF SOUTHOLD $826,000 BOND ANTICIPATION NOTE FOR VARIOUS PURPOSES-2000 The To,aa of Southold. in the County of StL['l'oik. a mumctpa[ corporation o1' thc St,tlC of New York, hereby acknowledges itself indebted and for value received promise~ to pay to tile bearer of thi~ Note, or if it bc registered, to the registered holder, the stun of EIGHT HUNDRED 'I3,VENTY-SIX THOUSAND DOLLARS ($826,000) on the llth day of May, 2001, together with interest thereon frmn the date hereof at the rate of four and forty-nine hundredths per eentum (4.49%) per annum, payable at maturity. Both principal of and interest on this Note will be paid in lawful money of the United States of .~nerica. at The Bridgehampton National Bank. Southold. New York. At the request of the holder, the Tovnt Clerk shall convert this Note into a r~g~stercd Note by registering it in the name of the holder in the books ol' the Town kept in tile office of such Town Clerk mtd endorsing a certificate of such registration hereon, after which both principal of and interest oll this Note shall be payable only to the registered holder, his legal representatives, successors or transferees. This Note qxal[ then bc tran~I'¢rable m),ly upon presentation to such Town Clerk with a wrinen transt'er of title uiid such Tox',xt Clerk shall thercttpon 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. ,r [tis legal representative,., itnd tt slta[I be duty acknowledged or proved, or in the alternative the s~gnamre thereto shall be certtficd ,ts to ~ts genuineness by ail officer of a bank or trust company located and authorized to do busine',s itl this Stale This Note is the only Note of ,rm authorized conthmed issue, tile i,ggregate principal amount of which is $826,000. This Note is issued pursuant to the provisions of the Local Fin,'mce Law. constituting Chapter 33-a of the Consolidated Laws of the State of New York. eight bond resolution,, duly adopted by the Tow'n Board on their respective dates, authorizing various purposes in and [tlr the Town. iutd the Certificate or' Determination executed by the Supervisor on May 12. 2000. This Note has been designated by the Town as a qualified tax exempt obliganon pursuant to the provisions of Section 265 of the Internal Revenue Code of 1986. as alnended The faith and credit of such Towu ~*t' South~ld are hereby irrc,n}cuhly pledged for thc punctual payment of the principal of and iaterest on this Note itccording to ifs tcnns It ix hereby certified and recited that all conditions, acts and things required by the Constitution ;md statutes of thc State of New York m exist, to have happened and to have been performed precedent to and tn thc issultnce of this Note, exist, have Itappencd and haxc been performed, and that this Note. together with all other indchtedac',~, of ~mch Tox~.at ol Soathtdd, is withie every debt and other limit prescribed by tile Constitution and [ktws of ~uc[l State. IN WITNESS WHEREOF. the Tov, n of Southi}ld h;t~ c;tu~ed rio:, Note to bc stgned by tls Supervisor. and its corporate seal (or a i'acsitnile thercol) to be affixed, impressed, nnprintcd, engraved, or otherwise reprodac~cd hereon and attested by its Town Clerk and tills Note to hc dated as of thc 12th day of May, 2,000. TOWN OF SOUTHOLD (SEAL) ATI'EST: ~ Clerl~ ' CERTIFICATE .OF DETERMINATION BY THE SUPERVISOR RELATIVE TO AUTHORIZATION, SALE, ISSUANCE, FORM AND CONTENTS OF THE $826,000 BOND kNTICIPATION NOTE FOR VARIOUS PURPOSES-2000 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 as 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 8, 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 $60,000 shall be issued to renew, in part, the $92,000 bond anticipation note dated May 14, 1999, maturing May 12, 2000, 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 4, 1997, authorizing the acquisition of a Vacall drain cleaner for use by the Town Highway Department; stating the estimated maximum cost thereof is $175,000; appropriating said amount therefor, including the amount of $15,000 to be received as the trade-in allowance on the drain cleaner now owned by the Town and applied towards the cost of such vacall drain cleaner, and authorizing the issuance of $160,000 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 May 14, 1999, the redemption of said $92,000 bond anticipation note having been heretofore provided to the extent of $32,000 from a source other than the proceeds of serial bonds. 2. A bond anticipation note of the Town in the principal amount of $66,000 shall be issued to renew, in part, the $106,000 bond anticipation note dated May 14, 1999, maturing May 12, 2000, and heretofore issued in anticipation of the sale of the serial bonds authorized pursuant to the bond resolution entitled: 344444.1 0~5558 CERT "Bond Resolution of the Town of Southold, New York, adopted October 28, 1997, appropriating the amount of $200,000 for the increase and improvement of facilities of the Southold Solid Waste Management District, in said Town, and authorizing the issuance of $200,000 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 May 14, 1999, the redemption of said $106,000 bond anticipation note having been heretofore provided to the extent of $40,000 from a source other than the proceeds of serial bonds. 3. A bond anticipation note of the Town in the principal amount of $35,000 shall be issued to renew, in part, the $55,000 bond anticipation note dated May 14, 1999, maturing May 12, 2000, 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 January 20, 1998, authorizing the purchase of a garbage truck for use by the Department of Public Works; stating the estimated maximum cost thereof is $90,000; appropriating said amount therefor, authorizing the amount of at least $2,000 expected to be received as the trade-in allowance on the garbage truck now owned by the Town to be applied towards the cost of such new garbage truck and authorizing the issuance of not to exceed $88,000 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 May 14, 1999, the redemption of said $55,000 bond anticipation note having been heretofore provided to the extent of $20,000 from a source other than the proceeds of serial bonds. 4. A bond anticipation note of the Town in the principal amount of $100,000 shall be issued to renew, in part, the $130,000 bond anticipation note dated May 14, 1999, maturing May 12, 2000, and heretofore issued in anticipation of the sale of the serial bonds authorized pursuant to the bond resolution entitled: 344444.! 015558 C£RT "Bond resolution of the Town of Southold, New York, adopted January 19, 1999, authorizing the acquisition of a street sweeper for use by the Town Highway Department, stating the estimated maximum cost of $130,000, appropriating said amount therefor, and authorizing the issuance of $130,000 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 May 14, 1999, the redemption of said $130,000 bond anticipation note having been heretofore provided to the extent of $30,000 from a source other than the proceeds of serial bonds. 5. A bond anticipation note of the Town in the principal amount of $135,000 shall be issued to renew, in part, the $170,000 bond anticipation note dated May 14, 1999, maturing May 12, 2000, 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 January 19, 1999, appropriating the amount of $170,000 for the increase and improvement of facilities of the Southold Solid Waste Management District, in said Town, and authorizing the issuance of $170,000 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 May 14, 1999, the redemption of said $170,000 bond anticipation note having been heretofore provided to the extent of $35,000 from a source other than the proceeds of serial bonds. 6. A bond anticipation note of the Town in the principal amount of $65,000 shall be issued to renew, in part, the $100,000 bond anticipation note dated May 14, 1999, maturing May 12, 2000, 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 2, 1999, authorizing the acquisition of a payloader for use by the Town Highway Department, stating the estimated maximum cost thereof is $100,000, appropriating said amount therefor and authorizing the issuance of not to exceed $100,000 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 May 14, 1999, the redemption of said $100,000 bond anticipation note having been heretofore provided to the extent of $35,000 from a source other than the proceeds of serial bonds. 7. A bond anticipation note of the Town in the principal amount of $275,000 shall be issued in anticipation of the sale of serial bonds authorized pursuant to the bond resolution entitled: "Bond resolution of the Town of Southold, New York, adopted September 28, 1999, authorizing the original improvement and embellishment of a 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 $275,000 including preliminary costs and costs incidental thereto and the financing thereof; appropriating said amount therefor and authorizing the issuance of $275,000 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 $90,000 shall be issued in anticipation of the sale of serial bonds authorized pursuant to the bond resolution entitled: "Bond Resolution of the Town of Southold, New York, adopted December 21, 1999, authorizing the construction of a salt storage building in the Highway Yard, in Peconic, in said Town, for use by the Town Highway Department, stating the estimated maximum cost thereof is $90,000, appropriating said amount therefor and authorizing the issuance of $90,000 serial bonds to finance said appropriation," duly adopted by the Town Board on the date therein referred to. 9. Said $60,000 note, said $66,000 note, said $35,000 note, said $100,000 note, said $135,000 note, said $65,000 note, said $275,000 note and said $90,000 note, shall be combined for the purpose of sale into a single note issue in the aggregate principal amount of $826,000 (hereinafter referred to as the "Note"). 344444.1 015:~58 CERT 10. as follows: The terms, form and details of said Note shall be Amount and Title: $826,000 Bond Anticipation Note for Various Purposes-2000 Dated: May 12, 2000 Matures: May 11, 2001 Number and Denomination: NO. 3R-l, at $826,000 Interest Rate per annum: 4.49% Form of Note: Substantially in accordance with form prescribed by Schedule B, 2 of the Local Finance Law of the State of New York. 11. The amount of bond anticipation notes originally issued in anticipation of the issuance of serial bonds authorized pursuant to the resolutions referred to in paragraphs 1 to 8, inclusive, hereof, including the Note, is (1) $156,000, (2) $200,000, (3) $55,000, (4) $130,000, (5) $170,000, (6) $100,000, (7) $275,000 and (8) $90,000, respectively, and the amount of bond anticipation notes which will be outstanding after the issuance of the Note, including said Note, will be (1) $60,000 (2) $66,000, (3) $35,000, (4) $100,000 (5) $135,000, (6) $65,000, (7) $275,000 and (8) $90,000, respectively. 12. The serial bonds authorized pursuant to the bond resolutions referred to in paragraphs 1, 3, 4,6, 7 and 8 hereof are for improvements which are non-assessable. The serial bonds authorized pursuant to the bond resolution referred to in paragraphs 2 and 5 hereof are for improvements which are assessable. 13. Pursuant to said powers and duties delegated to me, I DO HEREBY AWARD AND SELL said Note to The Bridgehampton National Bank, Southold, New York, for the purchase price of $826,000, plus accrued interest, if any, from the date of said Note to the date of delivery thereof, and I FURTHER DETERMINE that said Note shall be payable as to both principal and interest at The Bridgehampton National Bank, Southold, New York, and shall bear interest at the rate of four and forEy-nine hundredths per centum (4.49%) per annum, payable at maturity. 14. Said Note shall be executed in the name of the Town by its Supervisor and the corporate seal of the Town (or a facsimile thereof) shall be affixed, impressed, imprinted, engraved or otherwise reproduced thereon and attested by its Town Clerk. 344444.1 015558 CERT 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 12th day of May, 2000. Supervisor CLERK'S CERTIFICATE I, Elizabeth A. 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 12th day of May, 2000; and I FURTHER CERTIFY that no resolution electing to reassu/ne any of the powers or duties mentioned.in said Certificate and delegated to the Supervisor by the resolutions cited in said Certificate has been adopted by the Town Board of the Town. IN WITNESS WHEREOF, I have hereunto set my hand and affixed 5he corporate seal of said Town this 12th day of May, 2000. (SEAL) ~ To~n Clerk 344444.1 015558 C£RT AFFIDAVIT AS TO NO CONFLICT OF INTEREST STATE OF NEW YORK ) :SS: COUNTY OF SUFFOLK ) Elizabeth A. 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 12th day of May, 2000 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. Subscribed and sworn to before me this 12th day of May, 2000. Nota~Jy Public, State of New York LYNDA M. BOHN RY PUBLIC, State of New No. 01B06020932 ~lallfled in Suffolk Count~ Expires March 8, 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.