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HomeMy WebLinkAboutPayloaderUNITED STATES OF AMERICA STATE OF NEW YORK COUNTY OF SUFFOLK TOWN OF SOUTHOLD BOND ANTICIPATION NOTE FOR VARIOUS PURPOSES-1997 The Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York, hereby agknowledge4 it. ll indebted and for value reenived promise~ to pay to the bearer of this Note, or if it be regi~tet~l, to the regiat~reA holder, the sum of NINE HUNDRED THIRTY-FIVE THOUSAND DOLLARS ($935,000) on the 18th day of September, 1998, tog~er with interest thereon from the date hereof at the rate of three and eighty, eight hundred~h~ per eeatum 0.88%) per annum, payable at maturity. Both principal of and interest on this Note will be paid in lawful money of the United States of America, at The Bridgehampton National Bank, Southold Off'~ce, Southold, New York. At thc re. quest of the holder, the Town Clerk shah conver~ this Note into a registered Nots by registcrlng it 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 r~glstration hereon, alter which both principal of and interest on this Note shall be payable oniy to the registered holder, his l~gal rapr~sentativ~, successors or transfeme:s. This Note shah then be transferable only upon prcsentatinn to such Town Clerk with a wri~len transfer of title and such Town Clerk shah thereupon register this Note in the name of the transferen in his books and shall endorse a certificate of such registration hereon. Such transfer shall be dated, and signed by the registered holder, or his legal representatives, and it shah be duly acknowiedged or proved, or in the alternative the signature thereto shall be certified as to its genuineness by an officer of a bank or trust company located and authorized to do business in this State. Thiz Note is the only Note of an authorized combined issue, the aggregate principal amount of which is $935,000. Thla Note is issued pursuant to the provisions of thc Local Finance Law, constituting Chapter 33-a of the Consol]dated Laws of thc State of New York, ten bond resolutions adopted by thc Town Board on their respective dates, anthorizing the issuance of scrlal bonds for various puq0oses, and the Certificate of Determination executed by the Supervisor on September 18, 1997. This Note has berm designated by the Town as a qualified tax-exempt obligation pursuant to the provi~inns 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 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 statete~ of thc State of New York to exist, to have happened and to have been performed precedent to and in thc issuz, ncc of ~ 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 Southold has caused this Note to be signed by its Supervisor, and its corporate seal (or a facsimile theren0 to be affixed, imprinted, engraved, or otherwise reproduced hereon and at~ated by its Town Clerk and this Note to be dated as of the 18th day of September, 1997. TOWN OF SOUTHOLD (SEAL) Supervisor ATTEST: COMBINED IN 1997 - $935,000 VARIOUS PURPOSES BOND ANTICIPATION NOTE (Sept. 18, 1997) NOTICE The resolution published harewith has been adopted on the 20th day of February, 1997. and the validity of the obligations author/zed by such resolu- tion may be hereafter contested only if such obligadons were authorized for an obje~ at purpuce fat which the TOWN OF SOUTHOL0, in the County of ~dfolk, New York, is not author/zed to expend money or if the provisions of law which should have been compl/ed with as q~tbe dele of publication of this Notice were not substantially comphed with, and an setion, suit or proceeding conie~ng such validity is commenced within twenty days after the publication of this Nmioe, or such obligetin~s were authorized in violation of the provi. sions of the constitution. JUDITH T. TERRY Town Clerk BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED FEBRUARY 20, 1997, APPROPRIATING THE AMOUNT OF 90,000 FOR THE ACQUISITION OF A PAY- LOADER PaR THE SOUTHOLD SOLID WASTE MANAGEMENT DISTRICT. IN SAID' TOWN, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $90,000 AND AUTHORIZING THE ISSUANCE OF ggo,000 SER* IAL BONDS OF SAID TOWN TO FINANCE SAID APPROPRIA. TION. Recital WHEREAS, the Town Board of the Town of Somhold [herein oiled the "Town"). in the County of Suffolk, New York, acting on behalf of the Southold Solid Waste management Distric~ (herein called the "District"), in !he Town, has heretofore determined to morease and improve the facilities of the Dislr/ct by the acquisition of a pay. loader beteinafter de-~.-"ribed and, after a public bearing duly celled and held, said Ibwn Board has detarmmea, pur- suant to the Resolution and Order After Public Hearing du~y edopted on tiffs ~ate, that it is in the publio intere~ to so increase and improve the facilit/es of the District and ordered the a~quisition of such payloader; Now, Iberefote. be it RESOLVED BY THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK. NEW YORK (by the fa- vorable vote of not less than two-thirds of all the members of said Board) AS FOLLOWS: Section :L The Town hereby propristea the amnonl of $90,000 for the acquisition of a puyioader for use in and by Ihe Distr/cl heretofore au- ~aid spaeific object or purpose, incind- $90,000. The plan of financing includes the issuance of S90,000 serial bonds of the Town to finance said land within the District whkh the Tdgm Beard shall demmine and specify to be espedally beneftted thereby, so much upon and from each as shall ha in just ptopunion to the amo~m of benefit c~f~rred upon the same, to pay the pr/ncipal of and intctcet on said bonds as the mae shall I~orne due and Snctinn 2. Serial bonds of the Town are he~ authorized to be isannd in tho I~incipul amour of $90,000 pur- sonnl to the provisiom of the Lncal F'm~co Law, comtitutimt Chapter 33-a of the Co~sofidated la~s of tho State of finance said appropriation. Section 3. The following additional matters are hereby determined and dec. lared: (a) The period of pmhable usefu~- nes.~ of each item of the specific object or purpose for whioh asid $90,000 ser- ial bonds ag authorized to ~e issued. within the limitations of Section ] l.O0 a. 28. of the law, is fifteen (15) years, CO) The proceeds of the bonds herein authorized and any bond anticipation note~ issued in anticipation of said bonds may be applied to reimburse the Town for expenditures made after the effective dale of this resolution for the purpose for which said bonds are authorized. The foregoing statement of intent with respect to t~imborsemonl is made in conformity witl~ Treasury Regulation Section 1.150-2 of the United States Treasury Depunmem. (c) The Town Boarct, acting in the mie of Lead Agency, has determined and found that pursuant to the appli- cable provisions of the State Envi- ronmental Quality Review ("SEQRA") no substantial edveme environmental impact will he caused by the acquisition of such payloader. Sectio~ 4. Each of the bonds thor/zed by this resolution and bond anticipation notes issued in an- ticipation of said bonds shall contain the recital of validity prescr/bed by Section $2.00 of the Law ami* said bonds, and any notes issued in antic/- patios said bonds, shall ha general obligations of the Town, payable as to both pr/ncaa[ and intere~ by a general tax upon all the taxable real propafly within the Town withoul limitation as to rate or amount. The faith and credil of the Town ate hereby in~vocably pledged ~o the punctual payment of the principal of and interest on said bonds and any notes issued in antieipution of the sale of said bonds and provmion shall ha made annually in the budget of the Town by appropr/ati~m for (a) the amortization and redemption of the bonds and any notes issued in antJci- purina the/eof 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 having sulman. tinily level or declining annual debt set- vice, Section 30.00 relative to the authorization of the inuanco of bond anticipation nores, and Section 50.00 and Sections 56.00to 60.00 of tbe Law, the puwen and duties of the Town Board relative to author/zing bond anticipation rotes and presur/b~ng their tem'~, form and coments nod as to the fore ar hereafter author/zed, and of my bond ant/c/putinn notes issued in an- tieipaimn of said bonds, and the ~- newals of said bond anticipation ~ are hereby delegeted to the Supan, b~, the chief fiscal oft'wet of the Town. Section 6. The validity of the heeds authorized by this resolution, md of any notes issued in anticipation o/sam bonds, may be contested only if: (a) such obligations are ~ rized for an object or putpcee f~ which the Town is not author/and to expend money, or CO) the provisions of law ~ should be complied with at the ~ of the publication of such rcaekl#no are nm substantially complied ~ and an action, suit or prnceedin~ cae- testing such validity, is e~ within twenty days after the dele o/ such publication, or (c) such obligations are ~ r/zed in violation of the pnl~vleiem of the constitution. STATE OF NEW YORK) } SS: /'")~-~-~/~"-___ or Mattitue,, in said County, being duly sworn, says that he/she is Principal Clerk of THE SUFFOLK TIMES, a Wceldy Newspaper, published at Mattituck, in thc Town of Southold, County of Suffolk and State of New York, and that thc Notice of which the annexed is a printed copy, has bccn regular- ly published in said Newspaper Once each week for _ ~ weeks supcczslvcly, Commcucin~ on Principal Clerk Sworn t~ b~eforc mc this c:~c~~7~- ~._~y of ~_ 19 ~Z NO. 52~655242 SUFFOLK ~U~ ~ ~MM ~ION ~PIR~ AUGUST 31, 19~ ~ EXTRACT OF MINUTES Meeting of the Town Board of the Town of Southold, Southold, in the County of Suffolk, New York, Town Hall, Southold, New York, in said Town, ~997, at 5:00 o'clock P.M. (Prevailing Time) .There were present: in the County of Suffolk, New York February 20, 1997 A regular meeting of the Town Board of the Town of was held at the on February 20, Councilpersons: William D. Moore, Deputy Supervisor Alice. J. Hussie Ruth D. Oliva Louisa P. Evans, Town Justice There were absent: Jean W. Cochran, Supervisor Joseph L. Townsend, Jr., C6uncilman Also present: Judith T. Terry, Town Clerk Laury L. Dowd, Town Attorney The Town Clerk stated tha~ a public hearing had been called for this meeting at the Town Hall, Southold, New York, in said Town at 5:00 o'clock P.M. (Prevailing Time) to consider the acquisition of a payloader for the Southold Solid Waste Management District, in the Town of Southold, and to hear all persons interested in the subject thereof concerning the same and for such other action on the part of the Town Board with relation thereto as may be required by law. The Town Clerk read, in full, the notice calling said public hearing and presented affidavits showing that certified copies of said notice had been duly published and posted pursuant to the provisions of Article 12 of the Town Law. The Supervisor stated that the hearing in the said matter was now open and asked if there were any interested persons present who desired to be heard. The following persons appeared in favor of the acquisition of a payloader for the Southold Solid Waste Management District: NONS. The following persons appeared in opposition to said acquisition of a payloader for the Southold Solid Waste Management District: NONS. The Town Clerk reported that the following pertinent communications had been received: NON£. I$9ff74,1 015146 RE~ meeting. The Town Clerk then read such communications to the The Supervisor inquired as to whether there were any other persons present who wished to be heard. No one appeared, whereupon the Supervisor declared the public hearing closed. On motion of Councilwoman OHva , duly seconded by 3ustice Evans , the following Resolution and Order After Public Hearing was duly declared adopted on the following roll call vote: AYES: Councilman Moore, .Councilwoman Hussie, Councilwoman Oliva, Justice Evans. NOES: None. 159074.1 018146 A regular meeting of the Town Board of the Town of Southold, in the County of Suffolk, New York, was held at the Town Hall, in said Town, on the 20th day of February, 1997. PRESENT: William D. Moore, Councilman, Deputy Supervisor Alice J. Hussie, Councilwoman Ruth D. Oliva, Councilwoman Louisa P. Evans, Town Justice In the Matter of the Acquisition of a Payloader for the Southold Solid Waste Management District,-in the Town of Southold, in the County of Suffolk, New York, pursuant to Section 202-b of the Town Law. RESOLUTION AND ORDER AFTER PUBLIC HEARING WHEREAS, the Town Board of the Town of Southold (herein called "Town Board" and "Town", respectively), in the County of Suffolk, New York, on behalf of Southold Solid Waste Management District, in the Town (herein called "District"), has requested the acquisition of a payloader for the District, at the estimated cost of $90,000; and WHEREAS, pursuant to the Order Calling Public Hearing To Be Held On February 20, 1997, adopted January 29, 1997, a public hearing was duly held by the Town Board on the 20th day of February, 1997 at 5:00 o'clock P.M. (Prevailing Time) at the Town Hall, Southold/ New York, in the Town, and considerable discussion on the matter has been had and all persons desiring to be heard have been heard, including those in favor of and those in opposition to said acquisition of a payloader for the Southold Solid Waste Management District; and WHEREAS, the Town Board has given due consideration to the impact that the acquisition of a payloader for the District may have on the environment and on the basis of such consideration, the Town Board has found that no substantial adverse environmental impact will be caused thereby; and WHEREAS, the Town Board and the Town have complied in every respect with all applicable federal, state and local laws and regulations regarding environmental matters including compliance with the New York State Environmental Quality Review Act, comprising Article $ of the Environmental Conservation Law and, in connection therewith, a duly executed Short Environmental Assessment Form has been filed in the office of the Town Clerk; NOW, THEREFORE, on the basis of the information given at such hearing, it is hereby DETERMINED, that it is in the public interest to acquire the payloader for the District as hereinabove described and referred to at the estimated total cost of not to exceed $90,000; and it is hereby. ORDERED, that the facilities of the District shall be so increased and improved and that such payloader shall be 159074.1 018146 acquired and, further, that the Engineer heretofore retained by the Town Board shall prepare specifications and make careful estimates of the expense of said increase and improvement of the facilities and with the assistance of the Town Attorney, prepare a proposed contract or contracts for the acquisition of such payloader, which specifications, estimate and proposed contract shall be presented to the Town Board as soon as possible; and it is hereby FURTHER ORDERED, that the expense of increasing and improving such facilities by said acquisition of a payloader shall be financed by the issuance of not to exceed $90,000 serial bonds of the Town, and the costs'thereof, including payment of principal of and interest on said bonds, shall be paid by the assessment, levy and collection of special assessments upon the several lots and parcels of land within the District which the Town Board shall determine and specify to be especially benefited thereby, so much upon and from each as shall be in just proportion to the amount of benefit conferred upon the same, to pay the principal of and interest on said bonds as the same shall become due and payable; and it is hereby FURTHER ORDERED, that the Town Clerk record a certified 159074.1 015146 RES copy of this Resolution and Order After Public Hearing in the office of the Clerk of Suffolk County within ten (10) days after adoption hereof. DATED: FEBRUARY 20, 1997 TOWN BOARD OF THE TOWN OF $OUTHOLD Wi~liam'D. Moore, Couqcilman (Deputy Supervisor) Alice J. Hus~e{~e', Councilwoman Ruth D. Oliva, Councilwoman Louisa P. Evans, Town Justice (SEAL) Members of the Town Board of the Town of Southold, New York Councilwoman Hussie and moved its adoption: offered the following resolution 159074.1 018146 RE5 BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED FEBRUARY 20, 1997, APPROPRIATING THE AMOUNT OF 90,000 FOR THE ACQUISITION OF A PAYLOADER FOR THE SOUTHOLD SOLID WASTE MANAGEMENT DISTRICT, IN SAID TOWN, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $90,000 AND AUTHORIZING THE ISSUANCE OF $90,000 SERIAL BONDS OF SAID TOWN TO FINANCE SAID APPROPRIATION. Recital WHEREAS, the Town Board of the Town of Southold (herein called the "Town"), in the County of Suffolk, New York, acting on behalf of the Southold Solid Waste Management District (herein called the "District"), in the Town, has heretofore determined to increase and improve the facilities of the District by the acquisition of a payloader hereinafter described and, after a public hearing duly called and held, said Town Board has determined, pursuant to the Resolution and Order After Public Hearing duly adopted on this date, that it is in the public interest to so increase and improve the facilities of the District and ordered the acquisition of such payloader; Now, therefore, be it RESOLVED BY THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK (by the favorable vote of not less than two-thirds of all the members of said Board) AS FOLLOWS: 159074.1 018146 RES Section 1. The Town hereby appropriates the amount of $90,000 for the acquisition of a payloader for use in and by the District heretofore authorized to be acquired pursuant to the Resolution and Order After Public Hearing referred to in the Recital hereof. The estimated maximum cost of said specific object or purpose, including preliminary costs and costs incidental thereto and to the financing, is $90,000. The plan of financing includes the issuance of $90,000 serial bonds of the Town to finance said appropriation and the assessment, levy and collection of sPecial assessments upon the several lots and parcels of land within the District which the Town Board shall determine and specify to be especially benefited thereby, so much upon and from each as shall be in just proportion to the amount of benefit conferred upon the same, to pay the principal of and interest on said bonds as the same shall become due and payable. Section 2. Serial bonds of the Town are hereby authorized to be issued in the principal amount of $90,000 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 of each item of the specific object or purpose for which said $90,000 serial bonds are authorized to be issued, within the limitations of Section 11.00 a. 28. of the Law, is fifteen (15) years. 159~/4.1 018146 (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 Lead Agency, has determined and found that pursuant to the applicable provisions of the State Environmental Quality Review Act ("SEQRA") no substantial adverse, environmental impact will be caused by the acquisition of such payloader. Section 4. Each of the bonds authorized by this resolution and any bond anticipation notes issued in anticipation of said bonds shall contain the recital of validity prescribed by Section 52.00 of the Law and said bonds, and any notes issued in anticipation said bonds, shall be general obligations of the Town, payable as to both principal and interest by a general tax upon all the taxable real property within the Town without limitation as to 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 issued 159074.1 018146 RF~ 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 having 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 of the Law, the powers and duties of the Town Board relative to authorizing bond anticipation notes and prescribing their 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, 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 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 15907~.1 015146 (c) such obligations are authorized in violation of the provisions of the constitution. Section 7. This resolution shall take effect immediately. The adoption of the foregoing resolution was seconded by Councilman Moore and duly put to a Vote on roll call, which resulted as follows: AYES: Councilman Moore, Councilwoman Hussie, Councilwoman Oiiva, Justice Evans. NOES: None. The resolution was declared adopted. *** _ Councilwoman Olive resolution and moved its adoption: offered the following 159074.1 0~8146 R~ RESOLVED BY THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, AS FOLLOWS: Section 1. The Town Clerk is hereby directed to publish the foregoing bond resolution, in full, in "THE SUFFOLK TIMES," a newspaper published in Southold, New York, and having a general circulation in said Town, which newspaper is hereby designated as the official newspaper of the Town for such publication, together with the Town Clerk,s statutory notice in the form prescribed by Section 81.00 of the Local Finance Law of the State of New York. Section 2. i ' mmedlately. This resolution shall take effect The adoption of the foregoing resolution was seconded by Councilwoman Hu$$ie and duly put to a vote on roll call, which resulted as follows: AYES: Councilman Moore, Councilwoman Hussie, Councilwoman Oliva, Justice Evans. NOES: None. The resolution was declared adopted. CERTIFICATE I, JUDITH T. TERRY, Town Clerk of the Town of Southold, in the County of Suffolk, New York, HEREBY CERTIFY that the foregoing annexed extract from the minutes of a meeting of the Town Board of said Town, duly called and held on February 20, 1997 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 of said Town this 20th day of February, 1997. (SEAL) Town Clerk 159074.1 018146 1~ ,- ~e8~*,6-,, P.M. 'Iin~) to ~ ~d ~ifi~ of a ~y~r at ~ ~{m~d mini ~ of S~,~ ~ ~ in ~ ~ti~ of t~ cd in the s~ ~ ~min8 ~emo M ~y ~ ~qui~ by law; T~ ~ ~bli~ at le~ on~ pa~r ~blb~d in M~i~c~ New Y~ ~d he.by ~d ~ ~ o~- pOl~, ~ ~t on ~ si~ ~id ~ ~ I~ tim ~li~fion ~f ~ ~ ~ m ~ no~ lh~ ten (10) ~ m~ ~ ~cnty (~) ~n~w~ ~ ~U~ R~ D. ~iva ~ ~ll~ D, M~ (~) ~ OF NEW YO~ ) ~ OF SU~O~ ) L ~D~ T. ~ ~ Oe~l ~ Su~l~ New Yor~ ~ ~Y p~ ~r ~lia& ~blk wi~ ~ ~f fi~ h my ~ ~ ~ ~ ~y of~, 1~, ~y of ~ ~ of ~ who~ IN ~S ~F, I (~) ~7-1~ STATE OF NEW Y01 ~ ) SS: COUI~TY OF SIIFFOLK) s~d Co~, bei~ d~y sworn, says that he/she is Principal Cler~ o{ THE 8~FOLK TIM~, · Wee~y Newspaper, published at Mattit~k, in the To~ of 8ou$hold, County of 8u~olk and 8tare of New York, and ~at the Nogce of which ~e ~nexed ~ a p~ted copy, h~ been ~- ly p~ished in said Newspaper once each week for ~ we~k, ,~v~ly. ~mencl~ on ~e ( ~ dayof-~ ~9~.