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EXTRACT OF MINUTES
Meeting of the Town Board of the Town of Southold,
Southold,
Town Hall, 53095 Main Road, Southold, New York,
in the County of Suffolk, New York
Oc~ber 26, 1999
A regular meeting of the Town Board of the Town of
in the County of Suffolk, New York, was held at the
on September 28,
1999 at 4:30 o'clock P.M. (Prevailing Time).
There were present: Hon. Jean W. Cochran,
Councilman Brian G. Murphy
Councilman John M. Romanelli
Councilman William D. Moore
Justice Louisa P. Evans
Councilwoman Alice J. Hussie
Board Members:
Supervisor; and
There were absent:
Also present:
Elizabeth A. Neville,
Gregory F. Yakaboski,
Councilman Romanelli offered the
resolution and moved its adoption:
Town Clerk
Town Attorney
following
215931.1 020097
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED October 26, 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 TO THE FINANCING THEREOF;
APPROPRIATING SAID AMOUNT THEREFOR AND
AUTHORIZING THE ISSUANCE OF $275,000 SERIAL
BONDS OF SAID TOWN TO FINANCE SAID
APPROPRIATION.
THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF
SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote of not
less than two-thirds of all the members of said Town Board) AS
FQLLOWS:
Section 1. The Town of Southold, in the County of
Suffolk, New York (herein called "Town"), is hereby authorized to
improve and embellish a new public park and recreational area,
including, but not limited to, storage and restroom facilities, a
football field, concession stand, rollerskate hockey ring, a
track to be used for rollerblading, jogging and walking and the
215931.1 020~97 RES
equipment, machinery and apparatus necessary or appurtenant
thereto, being the initial phase of the original improvement and
embellishment of such park and area, the certain piece or parcel
of land containing 13.85 acres, more or less, on the west side of
Peconic Lane, heretofore acquired and now owned by and situate
in, the Town. The estimated maximum cost of said specific object
or purpose is $275,000, including preliminary costs and costs
incidental thereto and the said amount of $275,000 is hereby
appropriated therefor. The plan of financing includes the
issuance of $275,000 serial bonds of the Town to finance said
appropriation, and the levy and collection of taxes on all the
taxable real property in the Town to pay the principal of said
bonds and the interest thereon as the same shall become due and
payable.
Section 2. Serial bonds of the Town in the principal
amount of $275,000 are hereby authorized to be issued pursuant to
the provisions of the Local Finance Law, constituting Chapter 33-
a of the Consolidated Laws of the State of New York (herein
called "Law"), to finance said appropriation.
Section 3. The following additional matters are hereby
determined and declared: (a) The period of probable usefulness
applicable to the specific object or purpose for which the
$275,000 serial bonds authorized pursuant to this resolution are
to be issued, within the limitations of Section 11.00 a. 19 of
the Law, is hereby determined to be fifteen (15) years; however,
215931.1 020097 RES
the maturity of the bonds herein authorized shall not exceed five
(5) years.
(b) The proceeds of the bonds herein authorized and any
bond anticipation notes issued in anticipation of said bonds may
be applied to reimburse the Town for expenditures made after the
effective date of this resolution for the purpose for which said
bonds are authorized. The foregoing statement of intent with
respect to reimbursement is made in conformity with Treasury
Regulation Section 1.150-2 of the United States Treasury
Department.
(c) The Town Board acting in the role of the Lead
Agency, after having identified and considered the relevant areas
of environmental concern associated with said improvement and
embellishment of said park and recreational area authorized as
hereinabove described to in Section 1 (the "Project"), has issued
a negative declaration for purposes of the State Environmental
Quality Review Act ("SEQRA"), Article 8 of the New York
Environmental Conservation Law, and has determined that the
Project will not have a "significant effect" upon the
environment, and has satisfied the requirements imposed by SEQRA.
(d) The proposed maturity of the bonds authorized by
this resolution will not exceed five years.
Section 4. Each of the bonds authorized by this
resolution and any bond anticipation notes issued in anticipation
of the sale of said bonds shall contain the recital of validity
as prescribed by Section 52.00 of the Law and said bonds and any
215931.! 020097
notes issued in anticipation of said bonds shall be General
obligations of the Town, payable as to both principal and
interest by general tax upon all the taxable real property within
the Town without limitation of rate or amount. The faith and
credit of the Town are hereby irrevocably pledged to the punctual
payment of the principal of and interest on said bonds and any
notes issued in anticipation of the sale of said bonds and
provision shall be made annually in the budget of the Town by
appropriation for (a) the amortization and redemption of the
bonds and any notes in anticipation thereof to mature in such
year and (b) the payment of interest to be due and payable in
such year.
Section 5. Subject to the provisions of this resolution
and of the Law and pursuant to the provisions of Section 21.00
relative to the authorization of the issuance of bonds with
substantially level or declininG annual debt service, Section
30.00 relative to the authorization of the issuance of bond
anticipation notes and Section 50.00 and Sections 56.00 to 60.00
and 168.00 of the Law, the powers and duties of the Town Board
relative to authorizinG bond anticipation notes and prescribinG
the terms, form and contents and as to the sale and issuance of
the bonds herein authorized, and any other bonds heretofore or
hereafter authorized, and of any bond anticipation notes issued
in anticipation of said bonds, and the renewals of said bond
anticipation notes, and relative to executinG contracts for
credit enhancements and providinG for substantially level or
215931.1 020097 RES
declining annual debt service, are hereby delegated to the
Supervisor, the chief fiscal officer of the Town.
Section 6. The validity of the bonds authorized by this
resolution, and of any notes issued in anticipation of the sale
of said bonds, may be contested only if:
(a) such obligations are authorized for an object or purpose for
which the Town is not authorized to expend money, or
(b) the provisions of law which should be complied with at the
date of the publication of such 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
(c) such obligations are authorized in violation of the
provisions of the constitution.
Section 7. This bond resolution shall take effect
immediately and the Town Clerk is hereby authorized and directed
to publish this bond resolution, in full, together with a notice
attached in substantially the form prescribed by Section 81.00 of
the Local Finance Law in THE SUFFOLK TIMES, a newspaper published
in Mattituck, New York, having a general circulation in the Town
and hereby designated the official newspaper of the Town for such
publication.
215931.1 020097 RES
The adoption of the foregoing resolution was seconded by
Councilman Brian G. Murphyand duly put to a vote on roll call, which
resulted as follows:
Councilman Brian G. Murphy
AYES: Councilman John M. Romanelli
Councilman William D. Moore
Justice Louisa P. Evans
Supervisor Jean W. Cochran
NOES: Councilwoman Alice J. Hussie
The resolution was declared adopted.
215931.1 020097 RES
CERTIFICATE
I, ELIZABETH A. NEVILLE, Town Clerk of the Town of
Southold, in the County of Suffolk, State of New York, HEREBY
CERTIFY that the foregoing annexed extract from the minutes of a
meeting of the Town Board of said Town of Southold duly called
and held on Oc~ber 26, 1999, has been compared by me with the
original minutes as officially recorded in my office in the
Minute Book of said Town Board and is a true, complete and
correct copy thereof and of the whole of said original minutes so
far as the same relate to the subject matters referred to in said
extract.
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the corporate seal
Town of Southhold this Z6th
October 1999.
of said
day of
(SEAL)
town C1 e(rk -~
215931.1 020097 RES
ELIZABETH A. NEVILLE
TOWN CLERK
REGISTRAR OF VITAL STATIST[CS
SLM:~RIAGE OFFICER
RECORDS MANAGEMENT OFFICER
FREEDOM OF INFORMATION OFFICER
Town Hall, 53095Main Road
P.O. Box 1179
Southold, New York 11971
Fax(516) 765-6145
Telephone(516) 765-1800
OFFICE OF THE TOWN CLERK
TOWN OF SOUTHOLD
THIS IS TO CERTIFY THAT THE FOLLOWING RESOLUTION WAS
ADOPTED AT A REGULAR MEETING OF THE SOUTHOLD TOWN BOARD
HELD ON OCTOBER 26. 1999:
WHEREAS, the Town Board of the Town of Southold is considering the development of
a recreational park known as the "Peconic Lane Park" located at the parcel identified as
SCTM #1000-74-5-6 and consisting of approximately 13 acres; and
RESOLVED, by the Town Board of the Town of Southold that this action is classified as
an Unlisted action pursuant to SEQRA Rules and Regulations, 6 NYCRR 617 I et. seq~
be it further
RESOLVED, by the Town Board of the Town of Southold that there are no other
involved agencies; be it further
RESOLVED, by the Town Board of the Town of Southold that it declares itself lead
agency for this project pursuant to SEQRA Rules and Regulations, 6 NYCRR 617.6 et.
seq.; be it further
RESOLVED, by the Town Board of the Town of Southold that based upon the completed
LEAF (Long Environmental Assessment Form) for this project attached hereto, there is
no potential significant adverse impact on the environment; be it further
RESOLVED, by the Town Board of the Town of Southold that it hereby issues a
negative declaration for this project pursuant to SEQRA Rules and Regulations, 6
NYCRR 617.1 et. seq.
Eliz~ibeth A. Neville
Southold Town Clerk
October 26. 1999