HomeMy WebLinkAboutAquisition of Agricultural LandSUPPLEMENTAL CERTIFICATE OF THE TOWN CLERK
I, JUDITH T. TERRY, Town Clerk of the Town of Southold,
in the County of Suffolk, State of New York, HEREBY CERTIFY as
follows:
1. That the names of the members of the Town Board and
of the officers of the Town, the dates of their election or
appointment and the dates of commencement and of expiration of
their terms of office for the official year commencing January 1,
1995 and ending December 31, 1995 are as follows:
Name and Date of Election Date of Commence- Date of End
Office or Appointment ment of Term of Term
Supervisor:
Thomas Wickham
11/2/93 1/1/94 12/31/95
Town Board:
Joseph J. Lizewski 11/5/91
Alice J. Hussie 11/5/91
Joseph L. Townsend, Jr. 11/2/93
Ruth D. Oliva 11/2/93
Louisa P. Evans 11/2/93
Town Clerk:
1/1/92 12/31/95
1/1/92 12/31/95
1/1/94 12/31/97
I/1/94 12/31/97
1/1/94 12/31/97
Judith T. Terry 11/2/93 1/1/94 12/31/97
Town Attorney:
Laury L. Dowd 11/2/93
1/194 12/31/95
NYI 118579. l 015419 CERT
Ail of the foregoing officers filed their oaths of office with the
undersigned Town Clerk and such of them as were required to file or
give bonds or official undertakings, filed or gave such bonds or
official undertakings in form and sum approved by the Town Board
and all of such members of the Town Board and officers are legally
eligible and are otherwise duly qualified as such and are the
acting members of the Town Board and officers of the Town.
2. The seal impressed upon this Certificate is the duly
adopted and only official corporate seal of the Town.
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the corporate seal of said
Town as of the 8th day of November,
1995.
(SEAL)
Town Clerk
NYI 118579 I 015419 CERI
SUPERVISOR'S CERTIFICATE OF AWARD
I, THOMAS H. WICKHAM, Supervisor of the Town of
Southold, in the County of Suffolk, New York (the "Town"),
CERTIFY AND REPORT AS FOLLOWS:
Time),
Wood,
HEREBY
1. On October 25, 1995, at 11:00 A.M. (Prevailing
bids were received at the offices of Hawkins, Delafield &
67 Wall Street, New York, New York.
2. At that time and place, two (2) sealed bids were
received for the purchase of $1,750,000 Agricultural Land
Preservation Serial Bonds-1995 of the Town (the "Bonds") pursuant
to the Notice of Sale of said Bonds heretofore duly published in
conformity with the requirements of the Certificate of
Determination executed by the Supervisor as of October 13, 1995,
and said bids were thereupon opened and publicly read.
3. The sealed bids so opened and publicly read were
each in legally acceptable form and were each accompanied by the
check required by said Notice of Sale and constituted signed
proposals to purchase all of the Bonds.
4. Forthwith upon receiving, opening, reading and
considering said sealed bids, I caused to be publicly announced
that Roosevelt & Cross,' Inc., New York, New York was the
successful bidder to whom the Bonds are to be awarded, at the
purchase price of $1,750,000 plus accrued interest at the rates
to be borne by the Bonds from the date of the Bonds to the date
of payment of the purchase price, said bid of said successful
bidder (copy attached) being the best bid received under the
terms of the Notice of Sale therefor and providing the lowest net
interest cost over the life of the Bonds, computed as follows:
Gross Interest .............. $1,084,585.00
Less the Amount of the
Premium Bid Above Par ...... $ -0-
Net Interest Cost ........... $1,084,585.00
Effective Net Interest Rate. 5.2919%
5. As designated by the aforementioned successful
bidder, said Bonds shall bear interest from their date in each
year until maturity at the respective rates per annum stated in
the following table:
Bonds maturing in the year 1997, at 5.00%
Bonds maturing in each of the years 1998 to 2008,
Bonds maturing in the year 2009, at 5.20%
Bonds maturing in the year 2010, at 5.30%
Bonds maturing in the year 2011, at 5-3/8%
Bonds maturing in the year 2012, at 5.40%
Bonds maturing in each of the years 2013 to 2015,
such rates of interest
sell said Bonds.
inclusive, at 5.10%
inclusive, at 5.50%
being the rates necessary for the Town to
6. I thereupon returned to the other bidder the good
faith check received with its aforesaid sealed bid.
7. Said Bonds will be delivered to the said successful
bidder hereinabove referred to upon receipt of payment in
accordance with the provisions of the Notice of Sale.
IN WITNESS WHEREOF, I have here~to set my hand as of
the 25th~ ~~
Oc e ,/~995.
Supervisor
NYI 118579.1 015419 CERT
TOWN CLERK'S CERTIFICATE
I, JUDITH T. TERRY, Town Clerk of the Town of Southold,
in the County of Suffolk, New York, HEREBY CERTIFY that I have
compared the foregoing Certificate of Award of the Supervisor and
the same is a true and complete copy of said Certificate filed
with the Town Board on or before November 8, 1995.
I FURTHER CERTIFY that no resolution electing to
reassume any of the powers or duties delegated to the Supervisor
by the resolution cited in the Certificate of Determination
referred to in said Certificate of Award, has been adopted by
said Town Board.
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the
Town, this
1995.
corporate seal of said
30th day of October ,
(SEAL)
Town Clerk
Nfl 118579.1 015419 CERT
~O~S~ ~RBO~S
October 25, 1995
Hon. ThomaS lt. Wickhsm
Supervisor
Town of Southold, New York
c/o Hawkins, Delafleld & Wood
12th Floor
67 WaU Street
New York, New York 1000~.
Net Interest Cost
Net Interest Rate
Dear M~. Wlckbem:
Subject to the provisions and in accordance with the terms of the annexed Notice of Sale dated October 13, 1995, which is
purchase all of the SI,'/S0,000 Agricultural Land Preservation Serial Bonds-1995 of the
hereby mede · part of this proposal, ~ offer to -~ .'
New York, described in said Notice of Sale, and to pay therefor the price of $1,T$0,000 plus $
Town of Southold, that the Bonds ummring in the
plus interest, if any, accrued on said Bonds from their date to the date of their delivery, provided
several years set. forth below shall bear interest fr~m their date until maturity at the respective rates per annum rated in the following
,-bi,: .. 5:./D
Bonds maturing in the year 199"/, ut fi'
Bonds maturing in the year 1998, ot 5'iO % Bonds maturing in the yusr 2008, ot
Bonds maturing in the year 1999, ot 6 Bonds maturing in the year 2009, st
Bo.ds maturin, '" the year 2010, .t
Bonds maturing in the year 2000, at _ 6 Bonds maturing in the year 2011, at
Bonds maturing in the year 2001, at
Bonds maturing in the year 2002, at % Bonds maturing in the year 2012, at
% Bonds maturing in the year 2013, at ~, ~_..~__~6
Bonds maturing in the year 2003, at
6 Bonds maturing in the year 2014, at
Bonds maturing in the year 2004, at _
Bonds maturing in the year 200~, at 6 Bonds maturing'in the year 201~, st ..6
Bonds maturing in the year 2006, st -~ ~'
....... .,..,. c,eck in the ~m o, S,,.0o0. mad, ~,y,:" :~_
We enclose herewith · cerm~eu or ,~. ...... --."~ed if the bid is not occe. pted; otuer~.?e to u~_~_e~:, l~.~. Boa's-in oceordance
' k which check b to be returned to the u,n, deL~..a.._..~ ao...ooo, in ease we should not lage up
[llds~,°lr'to be .,-.~ed by th: ~o~ aS and for lieu,. ...... .-- --
with the terms of th~s proposal.
· ur corn utetion o! the net inter, cost, .~ad~e~tv~obvi/nedsd ~ndthe~r ~hb~eVfo~::~fl~n~oNp~aC~ of Sale, but not
· .Th, ~_o~_a,~: fore.lPg, Prop..I for th, pnceh.,, 0~ ~ ............ ~,,~?
eo,s,,tu,-g"",, ......... $I/
Gross Inter,st $
"' ~.~:9/9
~'( our decimals)
~y: ~OOSEVELT & ~et~OSS, ..INC. & ASSOCIATES
f the ood faith check/on October 2S, 199S, in. the .amou.n,t ?f -.
~,e~ ~:'om t~e Town of So*thold, New York, is bereay acKno~,eugeu.
118579.1 01~419 PP~C
OFFICERS'
CLOSING CERTIFICATES
RELATING TO THE BONDS OF THE
TOWN OF SOUTHOLD, IN
THE COUNTY OF SUFFOLK, NEW YORK
CERTIFICATE AS TO SIGNATURES AND LITIGATION
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 "Issuer", HEREBY CERTIFY
that on or before the date hereof, each of the Issuer's
$1,750,000 Agricultural Land Preservation Serial Bonds-1995 (the
"~onds"), dated November 1, 1995, and more fully described in
Schedule X attached hereto and hereby made a part hereof, were
duly and completely executed in the name and on behalf of the
Issuer by the manual signatures of the undersigned officers of
the Issuer, each of whom did and does hereby adopt such
respective signatures, and the impressing thereon of the official
seal of the Issuer, and that on the date hereof, we are the duly
chosen, qualified and acting officers of the Issuer holding the
respective offices indicated by the official titles set opposite
our several signatures hereto, for terms expiring on the
respective dates set opposite such titles.
WE FURTHER CERTIFY that the seal which is impressed upon
this certificate has been impressed upon each of the Bonds and is
the legally adopted, proper and only official corporate seal of
the Issuer.
WE FURTHER CERTIFY that no litigation of any nature is
now pending or threatened restraining or enjoining the issuance
118579.1 015419 CERT
or delivery of said Bonds or the levy or collection of any taxes
to pay the interest on or principal of said Bonds, or in any
manner questioning the authority or proceedings for the issuance
of said Bonds or the levy or collection of said taxes, or
relating to said Bonds or affecting the validity thereof or the
levy or collection of said taxes, that neither the corporate
existence or boundaries of the Issuer nor the title of any of the
present officers thereof to their respective offices is being
contested, that no authority or proceedings for the issuance of
said Bonds has or have been repealed, revoked or rescinded, and
that no Bonds of the Issuer have been heretofore issued under or
pursuant to such proceedings.
IN WITNESS WHEREOF,
(SEAL):
we have hereunto set our hands and
said corporate seal has hereunto
been affixed as of the 8th day of
November, 1995.
OFFICIAL TITLE
Supervisor
Town Clerk
TERM OF OFFICE
EXPIRES
December 31, 1995
December 31, 1997
(Name of Bank)
NYI I18579.1 015419 CERT
respective offices set opposite their several signatures.
the above-named Issuer which appear above, are true and genuine
and that I know said officers and know them to hold the
I HEREBY CERTIFY that the signatures of the officers of
ATTORNEY'S CERTIFICATE
I, Laury L. Dowd, 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 am the duly chosen, qualified
and acting Town Attorney of the Issuer hereinafter named, that I
am familiar with the acts and proceedings heretofore had and or
taken by said Issuer or by its officers relative to the
authorization, sale and issuance of $1,750,000 Agricultural Land
Preservation Serial Bonds-1995, 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 "Issuer", all as described
and set forth in Schedule X annexed hereto and by this reference
made a part hereof, that no litigation of any nature is now
pending or threatened restraining or enjoining the issuance or
delivery of said Bonds or the levy or collection of any taxes to
pay. the interest on or principal of said Bonds, or in any manner
questioning the authority or proceedings for the issuance of said
Bonds or for the levy or collection of said taxes, or relating to
said Bonds or affecting the validity thereof or the levy or
collection of said taxes, that neither the corporate existence or
boundaries of the Issuer 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
Bonds has or have been repealed, revoked or rescinded.
I HEREBY FURTHER CERTIFY that there is no controversy or
litigation of any nature now pending or threatened by or against
the Issuer, wherein an adverse judgment or ruling could have a
material adverse impact on the financial condition of the Issuer
or adversely affect the power of the Issuer to levy, collect or
enforce the collection of taxes or other revenues for the payment
of the Bonds, which has not been disclosed in the Official
Statement relating to the Bonds.
IN WITNESS WHEREOF,
I have hereunto set my hand as of
the 8~h day of November, 1995.
Town_~ttorney
NYI 118579.1 015419 CERT
CERTIFICATE OF DELIVERY AND PAYMENT
I, THOMAS H. WICK~AM, the duly chosen, qualified and
acting Supervisor of the Issuer hereinafter named, HEREBY CERTIFY
that on the 8th day of November, 1995, I delivered or caused to
be delivered to Roosevelt & Cross, Inc., New York, New York, the
purchaser thereof, $1,750,000 aggregate principal amount of bonds
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' "Issuer", each duly and completely executed by or on behalf
of the Issuer and all as described and set forth in Schedule X
annexed hereto and by this reference made a part hereof, and that
at or before the time of such delivery of said bonds, I received
from said purchaser the following amounts:
Received prior to such delivery .......... $ 35,000.00
Received at time of such delivery ............ 1,716,777.22
Total amount received $ 1,751,777.22
being full payment for said bonds in accordance with the contract
of sale thereof, computed as follows:
Contract Price ........................... $1,750,000.00
Interest on said bonds accrued to the date
of delivery ............................. 1,777.22
Total $1,751,777.22
I FURTHER CERTIFY that at the time of such delivery of
said bonds, a written opinion was rendered by the law firm of
Hawkins, Delafield & Wood, dated as of the date of such delivery,
NYI 118579.1 015419 CERT
as to the validity of said bonds, said opinion (except as to
omission of the date of such delivery) having been printed on
each of said bonds.
IN WITNESS WHEREOF,
I have hereunto set my hand as of
the 8th day of November, 1995.
Supervisor
NYI 118579.1 015419 CERT
SCHEDULE X
Bonds of the TOWN OF SOUTHOLD, NEW YORK, substantially
in form, and offered for sale and sold, as provided by the
Certificate of Determination executed by the Supervisor as of
October 13, 1995 and to be delivered thereunder in the aggregate
principal amount of $1,750,000.
Number of Issues: 1
Amount and Title:
Dated:
Denominations,
Numbers and Letters:
$1,750,000 Agricultural Land Preservation
Serial Bonds-1995
November 1, 1995
In the form of registered Bonds
without coupons in denominations of
$5,000 or integral multiples thereof,
corresponding to the aggregate principal
amount of Bonds maturing in each year,
registered in the name of Cede & Co., as
nominee of The Depository Trust Company,
New York, New York, numbered separately
and consecutively upward with the letter
"R" prefixed thereto.
Place of Payment
of Principal
and Interest:
The office of the Town Clerk, Town of
Southold, 53095 Main Road, Southold,
New York (the "Fiscal Agent"). Interest payable
by wire transfer or in clearinghouse funds by
the Town or its agent on each interest payment
date to the person in whose name the bond is
registered at the address shown on the
registration book maintained by the Fiscal
Agent as of the close of business on the
fifteenth day of the month preceding each such
interest payment date.
NYI 118579.1 015419 CERT
Maturities, Interest
Rates and
Payment Dates:
Mature on November 1 in the principal
amounts in each of the following years and bear
interest at the respective rates per annum,
payable May 1, 1996, November 1, 1996, and
semiannually thereafter on May 1 and November 1
in each year to maturity as set forth below:
Year of Principal Interest
Maturity Amount Rate
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
$ 75,000
75,000
80,000
80,000
80,000
80,000
80 000
90 000
90 000
90 000
90 000
100 000
100 000
100 000
100 000
110 000
110 000
110 000
110 000
5 0O%
5 10
5 10
5 10
5 10
5 10
5 10
5 10
5 10
5 10
5 10
5 10
5.20
5.30
5-3/8
5.40
5.50
5.50
5.50
The Bonds maturing on or before November 1, 2006 are not subject
to redemption prior to maturity. The Bonds maturing on and after
November 1, 2007 are subject to redemption prior to maturity, at the
option of the Town, on November 1, 2006 and thereafter on any interest
payment date, as a whole or in part, in inverse order of maturity or in
equal proportionate amounts (selected by lot within a maturity), at the
following redemption prices, plus accrued interest to the date of
redemption:
Redemption Dates
Redemption Price as a
Percentage of Par Amount
November 1,
November 1,
November 1,
2006 and May 1, 2007 ............ 102%
2007 and May 1, 2008 ............ 101
2008 and thereafter ............. 100
The Bonds shall be redeemable upon the giving of notice which
identifies the Bonds to be redeemed, by mailing such notice to the
registered holders thereof at their respective addresses as shown upon
the registration books of the Fiscal Agent at least 30 days prior to
the date set for any such redemption. If notice of redemption shall
have been given as aforesaid, the Bonds so called for redemption shall
become due and payable at the applicable redemption price on the
redemption date designated in such notice, and interest on such Bonds
shall cease to accrue from and after such redemption date.
NYI 118579.1 015419 CERT
I00+ cubic yard capacity trailer, to be
filled by employees of the Town of
Southold. (If the bidder plans lo ulilize
a trailer of less than lO0 cubic yards
capacity, the bidder must so state, and
quote prices tied specifically to the size
trailer he intends to use.) When the
filled trailer is removed, a ~eplacement
November 2. 1995. at which time they
will be publicly opened and read aloud.
Specifications. a proposed contract for
the execution of the work. and forms of
proposal can be examined at the Office
of the Town Clerk. Town Hall. 53095
Main Road. Southold. New York
Proposals must be made upon and in
strict accordance with the form of pro-
posal, which form of proposal will
have an accompanying copy of the
specifications for said work and pro-
posed agreement, and the same may be
obtained at the Office of the Southold
Town Clerk upon payment of a fee of
$25.00 (nonrefuodable). Any alter-
ations of the form of the proposal will
result in the automatic rejection of the
bid and fode0ure of the bid deposit.
Proposals must be made and re-
ceived upon the following conditions:
Each proposal must be accompanied by
the deposit of a certified check payable
to thc order of thc Town of Soutbold in
the sum of $200.00. or a bond with suf-
ficient sureties, conditioned thai if the
proposal is accepted the successful bid-
der will enter into a contract for the
work. and that he wi0 furnish, within
ten days from the date of the accep-
tance of Ibe proposal, su0able surety as '
provided in the Specifications for the
faithful and prompt performance and
complefion of the work specified.
All deposits except that of the suc-
cessful bidder will be promptly re-
turned and that of Ihe successful bidder
returned upon his providing the
required surety.
Upon acceptance of his bid. if the
successful bidder fails to enter into a
contract pursuant to the requirements
of the Town Board. or fails to give the
further security prescribed in the
Specifications within the time limit
herein, then the check deposited as
aforesaid and the moneys standing to
the credit of same. will b~ forfeited to
the Town as liquidated damages, or if a
bond has been presented in lieu of a
certified check, then the penally shall
be enforced as liquidated damages.
All bids must be marked "Bid for
Removal of Scrap Metal". and must
be signed and sealed in envelopes
plainly addressed to the Sotuhold Town
Clerk. Southold Town Hall. 53095
Main Road. Soutbold. New York
The Town Board of the Town of
Southold reserves the right to reject
any and all bids or parts thereof. The
bid price shall not im:lude any tax. fed-
end. state, or local, from which the
Town of Seuthold is exempt.
Dated: October 12. 1995.
IUDITH T. TERRY
SOUTHOLD TOWN CLERK
LEGAL NOTICE
NOTICE OF AMENDMENT 0
SOUTHOLD TOWN
CODE AND ZONING MAP
AMENDMENT NO. 188
NOTICE IS HEREBY GIVEN that
at a meeting of the Town Boani of the
Town of Southold. Suffolk County.
New York. held on the 13th day of
June. 1995. the Town Board enacted
the following amendment to the Town
Zoning Code. entitled "Zoning Code of
the Town of Seutbeld". together with
the Zoning Map forming a part thereof.
as follows, to wit:
Amendment No. 138 amends the
Code of the Town of Southold by
changing from Residential Office IRO)
Dislrict lo General Business (BI
District the property of Prank
Cichanowicz Ill. situate, lying and
being at Cutchoguc. Town of Southold.
Suffolk County. New York. bounded
and described as follows:
BEGINNING at a point on the
southerly side of Main State Road.
287.32 feet westerly from its intersec-
tion with the westerly side of Harbor
Lane. Said point also being where the
northwesterly corner of tand now or
formerly of Fogarty inlersecls the
southerly side of Main Road; running
thence from said point and along land
now or formerly of Fogarty South 35
degrees 53 minutes l0 seconds Easl
117.00 feet to a point and land now or
formerly of Cosier; running thence
from along land now or formerly of
Coster South 34 degrees 18 minutes 50
seconds East 216.18 feet to other land
October 19, 1995 · The Suffolk Times
of Cichanowicz; running thence
through other land of Cichanowicz
South 49 degrees 31 minutes West
417.38 fee, to land now or formerly of
Blum: ruffaing thence along land now
or formerly of Blum North 40 degrees
29 minutes West 327.70 feet to the
southerly side of Main State Road; run-
ning thence along Main State Road the
following two (2) courses and dis-
tances: (I) North 49 degrees 31 min-
utes East 155.17 feet; (2) North 48
degrees 46 minutes 20 seconds East
294.83 feet to the point or place of
beginning.
Dated: October 12. 1995.
JUDITH T. TERRY
SOUTHOLD TOWN CLERK
NOTICE OF MEETING
The Regular Meeting of the Eastern
Suffolk Board of Cooperative
Educational Services will be held in
Conference Room C of the James
Hines Administration Center. 201
Sunrise Highway. Patchogue. New
York. on Tuesday. October 25. 1995. at
7:30 p.m.
TOWN OF SOUTHOLD.
IN THE COUNTY OF SUFFOLK
NEW YORK
NOTICE OF $1.750.000
BOND SALE
SEALED PROPOSALS will be
received by the Supervisor. Town of
Soulhold. New York. at the offices of
Hawkins. Delafield & Wood. 67 Wall
Street. 12th Floor. New York. New
York on Wednesday. October 25. 1995.
until I1:00 o'clock A.M. (Prevailing
· Time) at which time they will be pub-
licly opened and announced, for the
purchase of $1.750.000 AGRICUL-
TURAL LAND PRESERVATION
SERIAL BONDS-1995 (the "Bonds")
due on November I. as follows:
$75.000 in each of the yea~ 1997
and 1998;
$80.000 in each of the years 1999 to
2003. inclusive;
$90.000 in each of thc years 2004 lo
2007. inclusive;
$100.000 in each of the years 2008
to 201 I. inclusive; and
$110.000 in each of the years 2012
to 2015. inclusive.
Thc Bonds will be dated November I.
1995. and will bear interest at the rate
or rates per annum specified by the
successful bidder therefor in ac-
cordance herewith, payable semian-
nually thereafter on May I and
November I in each year until ma-
turity, commencing May I. 1996.
The Bonds will be issued in the form
of fully registered Bonds. in da-
nominations corresponding to the total
principal amounts due in each year of
maturity. As a condition to delivery of
the Bonds. the successful bidder will
be required to cause such Bond certifi-
cates to be (i) registered in the name of
Cede & Co.. as nominee of The
Depository Trust Company. 55 Water
StrecL New York. New York {"DTC").
and (ii) deposited with DTC to be held
in trust until maturity. DTC is an auto-
mated depository for securities and
clearinghouse for securities transac-
tions, and will be responsible for es-
tablishing and maintaining a book-
emry system for recording the own-
ership interests of ils participants.
which include certain banks, trust com-
~aies and securities dealers, and thc
transfers of the interests among ils par-
ticipants. Thc DTC participants will be
responsible for establishing and main-
taining records w0h respect to thc ben-
eficial ownership interests of individ-
ual purchasers in the Bonds. Individual
purchases of beneficial ownership
interests in thc Bonds may only be
made through book entries (without
certificates issued by the Town) made
on the books and records of DTC (or a
successor depository) and its partici-
pants, in denominations of $5.000 or
integral multiples thereof. Principal of
and interest on the Bonds will be
payable by the Town or its agent by
wire transfer or in clearinghouse funds
to DTC or its nominee as registered
owner of the Bonds. Transfer of princi-
pal and interest payments to partici-
pants of DTC will be the responsibility
of DTC; transfer of principal and thief-
est payments to beneficial owners by
participants of DTC will he the re,pon-
sibilily of such participants and other
nominees of beneficial owners. The
Town will not be responsible or liable
for payments by DTC to its participants
or by DTC participants to beneficial
owners or for maintaining, supervising
or reviewing the records maintained by
DTC, its participants or per.ms acting
through such participants.
The Bonds maturing on or before
November I. 2006 will not be subject
to redemption prior to maturity. The
Bonds maturing on and after
November 1, 2007 will be subject to
redemption prior to maturity, at the
option of the Town, on November I.
2006 and tbereafier on any interest
payment date. as a whole or in part. in
inverse order of maturity or in equal
proportionate amounts (selected by
within a maturity), at the following
redemption prices, plus accrued inter-
est to the date of redemption:
Redemption
Percentage
Redemption of Par
Dates
November I. 2006
and May I. 2007 102%
November I. 2007
and May I. 2008 101
November I. 2008
and thereafter
The Bonds shall be redeemable
upon the giving of notice which identi-
fies Ihe Bonds Io be redeemed, by
mailing such notice to the registered
holders thereof at their respective
addresses as shown upon the reg-
istration books of the Fiscal Agent at
least 30 days prior to lhe date set for
any such redemption. If notice of re-
demption shall have been given as
aforesaid, the Bonds so called for re-
demption shall become due and
payable at the applicable redemption
price on the redemption date desig-
nated in such nolice, and interest on
such Bonds shall cease to accrue from
and after such redemption date.
Each proposal must be a bid of not
less than $1.750.000 for all of the
Bonds and must state in a multiple of
one-haedredth of I% or a multiple of
one-eighth of I%. the rate or rates of
interest per annum which the Bonds are
to bear and may state different rates of
interest for Bonds maturing in different
calendar years; provided, however, that
(i) only one rate of interest may be bid
for all bonds maturing in any one cal-
endar year. (ii) the maximum differ-
ence between the highest and lowest
rates of imerest bid for the bonds may
not exceed I-I/2% per annum, and (iii)
variations in rates of inlerest so bid
shall be in ascending progression in
order of maturity so that the rate of
interest on bonds maturing in any par-
ticalar calendar year shall not be less
than the rate of interest applicable to
bonds maturing in any prior calendar
year. Each proposal must he enclosed
in a sealed envelope and shouI,J be
marked on the outs)de "Proposal for
Bonds" and be addressed as follows to
the Sale Officer. viz.: Hon. Thomas H.
Wickham. Supervisor. Town of
Southold. New York. c/o Hawkins.
oclafield & Wood. 67 Wall Street. 12th
Floor. New York, New York. As a con-
dition precedent lo the con,ideralion of
his proposal, each bidder is required to
deposit with the Sale Officer a certified
incoqx~rated bank or trust company to
the order of "Town of Southold. New
York". for $35.000 and such check
must be enclosed with the proposal.
The Bonds will be awarded and sold
to the bidder complying with the terms
of ~ale and offering to purchase the
Bonds at the lowest net interest cost.
and if two or more such bidders offer
to one of said bidders selected by the
Sale Officer by lot from among all said
bidders. The successful bidder must
also pay an amount equal to the interest
on the Bonds. if any. accrued to the
date of paymenl of the purchase price.
No interest will be allowed on the good
faith deposit.
Wfien the suceessfid bidder has
been ascertained, the Sale Officer will
promptly return all daposils made
the deposit made by such bidder,
See I.~gals. next page
STATE OF NEW '. :K)
) SS:
COUNTY OF SUFFOLK )
in ~udd Count, being duly sworn, says
Principal Clerk of THE SUFFOLK TI]~
Newspaper, published at Mattltuck, h
Southold, County of Suffolk and State
and that the Notice of which the
printed copy, has been regularly pub
Newspaper once each week for
y, comme~pg on the ~
19~
CHRISTINA VOLINSKI
Notary Public, State of New York
No. 5004884 ~}/ Pri~
Qualified in Suffolk Country
mission Expires Novemb~ 2~, I~.,L.
Notary Public
Sworn to before me this
The resolution published
herewith has been adopted on
the 20th day of September,
1994, and a Proposition there-
for has been approved by a
majority of the qualified vot-
ers of the Town a the Special
Town Election held on Novem-
ber 8. 1994. The validity of the
obligations authorized by such
resolution may be hereafter
contested only if such obliga-
tions were authorized for an
object or purpose for which the
TOWN OF SOUTHOLD, in
the County of Suffolk, New
York, is not authorized to ex-
pend money or if the provisions
of law which should have been
complied with as of the date of
publication of this notice were
not substantially complied
with, and an action, suit or pro-
ceeding, contesting such valid-
ity is commenced within
twenty days after the publica-
tion of this notice, or such ob-
ligations were authorized in
violation of the provisions of
the constitution.
JUDITH T. TERRY
Town Clerk
BOND RESOLUTION OF
THE TOWN OF SOUTH-
OLD, NEW YORK, ADOPT-
ED SEPTEMBER 20, 1994,
AUTHORIZING THE AC-
QUISITION OF CER-
TAIN DEVELOPMENTAL
RIGHTS IN PRIME AGRI-
CULTURAL LANDS
WITHIN SAID TOWN FOR
THE PRESERVATION OF
OPEN SPACES AND AR-
EAS, STATING THE ESTI-
MATED MAXIMUM COST
THEREOF IS $1,750,000,
APPROPRIATING SAID
AMOUNT THEREFOR.
AND AUTHORIZING THE
ISSUANCE OF $1,750,00C
SERIAL BONDS OF SAID
TOWN TO FINANCE SAID
APPROPRIATION.
Recitals
WHEREAS, Section 247 of
the General Municipal Law,
constituting Chapter 24 of the
Consolidated Laws of the State
of New York (herein called
"Section 247"), authorizes the
Town of Southold, Suffolk
County, New York, to acquire
developmental rights in agri-
cultural lands actually used in
bona fide agricultural produc-
tion, which developmental
rights represent permanent le-
gal interests or rights in land for
the preservation of open space
and areas; and
WHEREAS, the acquisition
of development rights in prime
agricultural lands located
throughout the Town for the
preservation of open spaces
and areas and conserving the
character of local communities
is found, determined and
deemed to be necessary, in the
public interest and a proper
public purpose of the Town in
accordance with the findings
and determinations of the State
Legislature as set forth in Sec-
tion 247; and
WHEREAS, in pursuance
thereof, the Town desires to
implement the land acquisition
and financing program set forth
below.
Now therefor be it resolved
by
THE TOWN BOARD OF
THE TOWN OF
SOUTHOLD, IN THE
COUNTY OF SU~-FOLK,
NEW YORK HEREBY (by
the favorable vote of not less
than three-fifths of all the
members of said Town Board)
AS FOLLOWS:
Section I. The Town of
Southold, in the County o f Suf-
folk, New York (herein called
"Town"), is hereby authorized
to acquire such developmental
rights in various parcels of
prime agricultural lands within
the Town for the preservation
of open spaces and areas as
may be authorized from time
to time, by the Town Board of
the Town, after due notice and
a public hearing, pursuant to
the provisions of Section 247,
including incidental costs in
relation thereto, such acquisi-
tion being hereby found, deter-
mined and deemed to be nec-
essary and in the public inter-
est and a proper public purpose
of the Town in accordance with
the findings and determinations
set forth in Section 247, pro-
vided, however, that no such
right in any piece or parcel of
such lands shall be acquired
until all relevant provisions of
the State Environmental Qual-
ity Review Act, constituting
Article 8 of the New York En-
vironmental Conservation
Law, have been complied with
and a final declaration as to
environmental impact has been
duly declared by the entity duly
authorized to so determine and
declare. The estimated maxi-
mum cost of said class of ob-
jects or purposes, including
preliminary costs incidental
thereto and to the financing
thereof, is $1,750,000, and said
amount is hereby appropriated
therefor. The plan of financing
includes the issuance of
$1,750,000 serial bonds of the
Town to finance said appro-
priation, and the levy and col-
lection of taxes on all the tax-
able 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 $1,750,000 are
hereby authorized to be issued
pursuant to the provisions of
the Local Finance Law, consti-
tuting Chapter 33-a of the Con-
solidated Laws of the State of
New York (herein called
"Law") to finance said appro-
priation.
Section 3. The following
additional matters are hereby
determined and declared:
(a) The period of probable
usefulness of said class of ob-
jects or purposes, as described
herein, for which said serial
bonds authorized pursuant to
this resolution are to be issued,
within the limitations of Sec-
tion 11.00 a. 21. (a) of the Law,
is thirty (30) years.
(b) The proceeds of the
bonds herein authorized and
any bond anticipation notes is-
sued in anticipation of said
bonds may be applied to reim-
burse the Town for expendi-
tures made after the effective
date of this resolution for the
purpose or purposes 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 State
Treasury Department.
(c) The proposed maturity
of said $1,750,000 serial bonds
will not exceed five (5) years.
Section 4. Each of the bonds
authorized by this resolution
and any bond anticipation notes
in anticipation of the sale of
said bonds shall contain the re-
cital of validity as prescribed
by Section 52.00 of the Law
and said bonds and any notes
issued in anticipation of said
bonds, shall be general obliga-
tions of the Town, p~ble 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 he~'eby rrevoca-
b y pledged to the punctual
.payment of the principal of and
rmterest on laid bonds and any
notes issued in anticipation of
the sale of said bonds and pro-
vision shall be made annually
in the budget of the Town by
appropriation for ia) the amor-
tization and redemption of the
bonds and any notes in antici-
pation 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 2 ! .00
relative to the authorization of
the issuance of bonds with sub-
stantially level or declining an-
nual debt service and of Sec-
tion 30.00 relative to the autho-
rization of the issuance of bond
anticipation notes and of Sec-
tion 50.00 and Sections 56.00
to 60.00 of the Law, the pow-
ers 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 of any bond an-
ticipation notes issued in antici-
pation of said bonds, and the
renewals &said bond anticipa-
tion notes, are hereby delegated
to the Supervisor, the chief fis-
cai officer of the Town.
Section 6. The validity of
the bonds authorized by'this
resolution and of any noies is-
sued in anticipation &the sale
of said bonds may be contested
only if:
ia) such obligations are au-
thorized for an object or pur-
pose for which the Town is not
authorized to expend money, or
(b) the provisions of'law
which should be complied with
at the date &the publ/cation of
such resolution are not substan-
tially complied with,
and an action, suit or pro-
ceeding contesting such valid-
ity is commended within
COUNTY OF SUFFOLK
STATE OF NEW YORK
SS:
I'strir'ia World, being duly sworn,
~:ay~ that she is the Editor, of the
TRAVELER-WATCHMAN, a public
newspaper printed at Southold,
Suffolk County; and that the notice
of which the annexed is a printed
copy, has been published in said
Traveler-Watchman once each week
for
...................... · ~ ...... weeks
succe,s~ve 1 y, commencing on the
Swoj~n to before me on this
.. ~O~. .day of
...............
Notary Public
twenty days after the date of
such publication, or 8~RB~R~ A. ~HN£1DER
(c) such obligations are au- NOTARY PUBLIC, State of New York
thorized in violation of the pro- No. 480C~4~
Qualified In Suffolk 0o~1~
visions of the constitution. Commission Expires
Section 7. A proposition for
the approval or disapproval of
this bond resolution shall be
submitted to the qualified vot-
ers of the Town at the Special
Town Election to be held at the
same time as the General Elec-
tion on November 8, 1994, and
this bond resolution shall take
effect upon the approval of the
Proposition by said voters of
the Town at that referendum
vote.
I X- I 1:24:94( I )
STATE OF NEW YORK )
) SS:
COUNTY OF SUFFOLK )
of Mattltuck,
in said County, being duly sworn, says that he/~he is
Principal Clerk of THE SUFFOLK TIMF~, a Weekly
Newspaper, published at Mattituck, in the Town of
Southold, County of Suffolk and State of New York,
and that the Notice of which the annexed is a
printed copy, has been regularly published in said
Newspaper once each week for.7_~ weeks
su(;ceasively, commp, n£ing on the ~' day of
CHRISTINA VOUNSKI
Notary Pubhc. State of New
No 5004884
Qu~,hf~ed in Suffolk Coun.ty. Principal Clerk
Conlrn~ss~cn Expires November 23,
Notary Public
Sworn t~_before me this ~-.~ .
day of~~
TO BE SUBMITTED AT A
SPECIAL TOWN ELECTION
TO BE HELD ON NOVEMBER 8, 1994
JqOTICE IS HEREBY GIVEN that a
Southold~ New y~ ~ September
8_078- I TS29
STATE OF NEW YORK)
) ~S:
COUNTY OF SUFFOLK )
_ _ _ of Mattituck,
in sold County, being duly sworn, says that he/she is
Principal Clerk of THE SUFFOLK TIMES, a Weekly
Newspaper, published at Mattituck, in the Town of
Southold, County of Suffolk and State of New York,
and that the Notice of which the annexed is a
printed copy, has been regularly published in said
Newspaper once each week ~ weeks
Notary Public
LEGAL NOTICE
TOWN OF SOUTHOLD
NOTICE OF
PROPOSITION
TO BE SUBMI'I"I'IgD AT A
SPECIAL TOWN
ELECTION
TO BE HELD ON
NOVEMBER 8, 1994.
NOTICE IS HEREBY
GIVEN that a Special Town
Election of the Town of
Southold will be held at the
same time as the General
Election on November 8,
1994, between the hours of
6:00 o'clock A.M. (Prevailing
Time) and 9:00o'clock P.M.
(Prevailing Time), and that
the following Proposition
will be submitted to the
qualified voters of the Town
of Southold and will appear
on the ballot, to wit:
PROPOSITION
SHALL THE RESOLU-
TION ENTITLED: "Bond
Resolution of the Town of
Southold, New York,
adopted September 20, 1994,
authorizing the acquisition
of certain developmental
rights in prime agricultural
lands within said Town for
the preservation of open
spaces and areas, $1,750,000,
appropriating said amount
therefor and authorizing the
issuance of $1,750,000 serial
bonds of sai~ Town to
finance said appropriation7
BE APPROVED?
NOTICE IS FURTHER
GIVEN that the polling
places in each of the respec-
tive election districts of the
Town of Southold shall be
the same polling places as
shall be used for voting at
the General Election held on~
that day.
An abstract of said bond
resolution, concisely stating
the purpose and effect
thereof, is as follows:
FIRST: RECITING that
Section 247 of the General
Municipal Law ("Section
247") authorizes the Town of
Southold to acquire
developmental rights in
agricultural lands, as defin-
ed therein, for the preserva-
tion of open spaces and
areas that such acquisition of
developmental rights in
prime agricultural lands
throughout the Town is
found, determined and
deemed to be necessary and
in the public interest and a
proper public purpose of the
Town in accordance with the
findings and determinations
of the State Legislature;
AUTHORIZING the Town
of Southold (the "Town") to
acquire such developmental
rights in various parcels of
prime agricultural lands
within the Town for the
preservation of open spaces
and areas as may be
authorized from time to
time, by the Town Board of
the Town, al'ter due notice
and a public hearing, pur-
suant to the provisions of
Section 247, including in-
cidental costs in relation
thereto, such acquisition be-
ing hereby found, determin-
ed and deemed to be
necessary and in the public
interest and a proper public
purpose of the Town in ac-
cordance with the findings
and determinations set forth
in Section 247, provided,
however, that no such right
in any such lands shall be ac-
quired until all relevant pro-
visions of the State En-
vironmental Review Act have
been complied with and a
final declaration as to en-
vironmemal impact has been
duly declared; STATING ttva
estimated maximum cost
thereof is $1,750,000 AP-
PROPRIATING $1,750,000
to pay said cost; and
STATING the plan of finan-
cing includes the issuance o1
$1.750,00 serial bonds of the'
Town, and the levy and col-
lection of taxes upon all the
taxable real property within
the Town to pay the principal
of said bonds and interest
thereon;
SECOND: AUTHORIZ-
ING the issuance of
$1,750,000 serial bonds of
the Town pursuant to the
Local Finance Law of the
State of New York (the
"Law") to finance saidl
appropriation;
THIRD: DETERMIN-
ING AND STATING the
period of probable
usefulness applicable to the
class of objects or purposes
for which said bonds are
authorized to be issued is
thirty (30) years; the pro-
ceeds of the bonds may be
used to reimburse the Town
for expenditures made after
the effective date hereof for
the purpose for which said
bonds are authorized and the
proposed maturity of said
serial bonds will exceed five
(5l years;
FOURTH: DETERMIN-
ING that said bonds and any
bond anticipation notes
issued in anticipation of said'
bonds and the renewals of
said bond anticipation notes
shall be general obligations
of the Town and PLEDG-
ING to their payment the
faith and credit of the Town;
FIFTH: DELEGATING
to the Supervisor the powers
and duties as to the issuance
of said bonds and any bond
anticipation notes issued in
anticipation of said bonds,
or the renewals thereof; and
SIXTH: DETERMIN-
ING that a Proposition for
the approval or disapproval
of this bond resolution shall
be submitted to the qualified
voters of the Town at the
Special Town Election to be
held on November 8, 1994
and that this bond resolution
shall take effect upon such
approval.
DATED: September 20, 1994
JUDITH T. TERRY
Town Clerk
IX-9/29/94(1)
COUNTY OF SUFFOLK
STATE OF NEW YORK ss:
Patricia wood, being duly sworn,
says that she is the Editor, of the
TRAVELER-WATCHMAN, a public
newspaper printed at Southold, in
Suffolk County; and that the notice
of which the annexed is a printed
copy, has been published in said
Traveler-Watchman once each week
for ~ weeks
succ~ez~ ~ve ly, commencing on the
day of · · · ~ ....... ,
19.?/...
Sword to before me on
.. of
this
Notary Public
BARBARA/% SCHNEIDER
NOTARY PUBLIC, Stmte of NM York
No. 4806~46
Qualified in Suffolk Co~t~/
EXTRACT OF MINUTES
Meeting of the Town Board of
the Town of Southold,
in the County of Suffolk, New York
September 20, 1994
Southold,
Town Hall, Southold, New York, on September 20,
o'clock P.M. (Prevailing Time).
There were present: Hon. Thomas H. Wickham,
Board Members: Councilman Joseph J. Lizewski
Councilwoman Alice J. Hussie
Councilman Joseph L. Townsend Jr.
Councilwoman Ruth D. Oliva
Justice Louisa P. Evans
A regular meeting of the Town Board of the Town of
in the County of Suffolk, New York, was held at the
1994 at 7:30
Supervisor; and
There were absent: None.
Also present:
Judith T. Terry, Town Clerk
Laury L. Dowd, Town Attorney
Councilman Townsend offered the
resolution and moved its adoption:
following
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED SEPTEMBER 20, 1994, AUTHORIZING
THE ACQUISITION OF CERTAIN DEVELOPMENTAL
RIGHTS IN PRIME AGRICULTURAL LANDS WITHIN
SAID TOWN FOR THE PRESERVATION OF OPEN SPACES
AND AREAS, STATING THE ESTIMATED MAXIMUM
COST THEREOF IS $1,750,000, APPROPRIATING
SAID AMOUNT THEREFOR, AND AUTHORIZING THE
ISSUANCE OF $1,750,000 SERIAL BONDS OF SAID
TOWN TO FINANCE SAID APPROPRIATION.
Recitals
WHEREAS, Section 247 of the General Municipal Law,
constituting Chapter 24 of the Consolidated Laws of the State of
New York (herein called "Section 247"), authorizes the Town of
Southold, Suffolk County, New York, to acquire developmental
rights in agricultural lands actually used in bona fide
agricultural production, which developmental rights represent
permanent legal interests or rights in land for the preservation
of open spaces and areas; and
WHEREAS, the acquisition of developmental rights in
prime agricultural lands located throughout the Town for the
preservation of open spaces and areas and conserving the
character of local communities is found, determined and deemed to
be necessary, in the public interest and a proper public purpose
73844.1 015419 RES
of the Town in accordance with the findings and determinations of
the State Legislature as set forth in Section 247; and
WHEREAS, in pursuance thereof, the Town desires to
implement the land acquisition and financing program set forth
below.
Now, therefor 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
three-fifths of all the members of said Town Board) AS FOLLOWS:
Section 1. The Town of Southold, in the County of
Suffolk, New York (herein called "Town"), is hereby authorized to
acquire such developmental rights in various parcels of prime
agricultural lands within the Town for the preservation of open
spaces and areas as may be authorized from time to time, by the
Town Board of the Town, after due notice and a public hearing,
pursuant to the provisions of Section 247, including incidental
costs in relation thereto, such acquisition being hereby found,
determined and deemed to be necessary and in the public interest
and a proper public purpose of the Town in accordance with the
findings and determinations set forth in Section 247, provided,
however, that no such right in any piece or parcel of such lands
shall be acquired until all relevant provisions of the State
Environmental Quality Review Act, constituting Article 8 of the
New York Environmental Conservation Law, have been complied with
and a final declaration as to environmental impact has been duly
declared by the entity duly authorized to so determine and
NYI 73844.1 015419 RES
declare. The estimated maximum cost of said class of objects or
purposes, including preliminary costs and costs incidental
thereto and to the financing thereof, is $1,750,000, and said
amount is hereby appropriated therefor. The plan of financing
includes the issuance of $1,750,000 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
interest thereon as the same shall become
of said bonds and the
due and payable.
Section 2.
amount of $1,750,000
Serial bonds of the Town in the principal
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 of said class of
objects or purposes, as described herein, for which said serial
bonds authorized pursuant to this resolution are to be issued,
within the limitations of Section 11.00 (a) 21. (a) of the La~,
is thirty (30) 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 or purposes
for which said bonds are authorized. The foregoing statement of
NYI 73844,1 015419 RES
intent with respect to reimbursement is made in conformity with
Treasury Regulation Section 1.150-2 of the United States Treasury
Department.
(c) The proposed maturity of said $1,750,000 serial
bonds will exceed five (5) 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
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
and of Section 30.00 relative to the authorization of the
73844.1 015419 RES
issuance of bond anticipation notes and of 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 the
terms, form and contents and as to the sale and issuance of the bonds
herein 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 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. A proposition for the approval or disapproval of
this bond resolution shall be submitted to the qualified voters of the
Town at the Special Town Election to be held at the same time as the
General Election on November 8, 1994, and this bond resolution shall
take effect upon the approval of the Proposition by said voters of the
Town at that referendum vote.
The adoption of the foregoing resolution was seconded
by Supervisor Wickham and duly put to a vote on roll call, which
resulted as follows:
AYES: Supervisor Wickham, Councilman Lizewski,
Hussie, Councilman Townsend, Councilwoman Oliva, Justice Evans.
NOES: None.
The resolution was declared adopted.
Councilwoman
Councilwoman Hussie offered the following resolution
and moved its adoption:
THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY
OF SUFFOLK, NEW YORK, HEREBY RESOLVES AS FOLLOWS:
Section 1. A Special Town Election of the Town of
Southold (herein called "Town"), in the County of Suffolk, New
York, will be held at the same time as the General Election on
November 8, 1994, between the hours of 6:00 o'clock A.M.
(Prevailing time) and 9:00 o'clock P.M. (Prevailing Time) or as
much longer as may be necessary to enable the voters then present
to cast their votes, at which Special Town Election the following
Proposition contained in the Notice hereinafter set forth shall
be submitted to the qualified voters, as hereinafter referred to.
The polling places in each of the respective election districts
NYI 73844.1 015419 RES
of the Town of Southold shall be the same polling places as shall
be used at the General Election to be held on that day.
Section 2. The Town Clerk is hereby authorized and
directed to publish at least once in "The Long Island Traveler-
Watchman", a newspaper published in Southold, New York, and the
"Suffolk Times", a newspaper published in Mattituck, New York,
hereby designated the official newspapers of the Town for such
publication, and to post on the sign board of the Town maintained
pursuant to subdivision 6 of Section 30 of the Town Law, said
publication and posting to be at least ten (10) days before such
Special Town Election, Notice that the Town Board will submit for
the approval or disapproval of the resolution hereinabove
referred to, said Notice to be in substantially the following
form:
NYI 73844.1 015419 RES
TOWN OF SOUTHOLD, NEW YORK
NOTICE OF PROPOSITION
TO BE SUBMITTED AT A
SPECIAL TOWN ELECTION
TO BE HELD ON NOVEMBER 8,
1994
NOTICE IS HEREBY GIVEN that a Special Town Election of
the Town of Southold will be held at the same time as the General
Election on November 8, 1994, between the hours of 6:00 o'clock
A.M. (Prevailing Time) and 9:00 o'clock P.M. (Prevailing Time),
and that the following Proposition will be submitted to the
qualified voters of the Town of Southold and will appear on the
ballot, to wit:
PROPOSITION
SHALL THE RESOLUTION ENTITLED: "Bond Resolution of the
Town of Southold, New York, adopted September 20, 1994,
authorizing the acquisition of certain developmental
rights in prime agricultural lands within said Town for
the preservation of open spaces and areas, $1,750,000,
appropriating said amount therefor and authorizing the
issuance of $1,750,000 serial bonds of said Town to
finance said appropriation," BE APPROVED?
NOTICE IS FURTHER GIVEN that the polling places in each
of the respective election districts of the Town of Southold
shall be the same polling places as shall be used for voting at
the General Election held on that day.
An abstract of said bond resolution, concisely stating
the purpose and effect thereof, is as follows:
FIRST: RECITING that Section 247 of the General
Municipal Law ("Section 247") authorizes the Town of Southold to
acquire developmental rights in agricultural lands, as defined
therein, for the preservation of open spaces and areas that such
acquisition of developmental rights in prime agricultural lands
throughout the Town is found, determined and deemed to be
necessary and in the public interest and a proper public purpose
of the Town in accordance with the findings and determinations of
73844.1 015419 RES
the State Legislature; AUTHORIZING the Town of Southold
(the"Town") to acquire such developmental rights in various
parcels of prime agricultural lands within the Town for the
preservation of open spaces and areas as may be authorized from
time to time, by the Town Board of the Town, after due notice and
a public hearing, pursuant to the provisions of Section 247,
including incidental costs in relation thereto, such acquisition
being hereby found, determined and deemed to be necessary and in
the public interest and a proper public purpose of the Town in
accordance with the findings and determinations set forth in
Section 247, provided, however, that no such right in any such
lands shall be acquired until all relevant provisions of the
State Environmental Quality Review Act have been complied with
and a final declaration as to environmental impact has been duly
declared; STATING the estimated maximum cost thereof is
$1,750,000; APPROPRIATING $1,750,000 to pay said cost; and
STATING the plan of financing includes the issuance of $1,750,000
serial bonds of the Town, and the levy and collection of taxes
upon all the taxable real property within the Town to pay the
principal of said bonds and interest thereon;
SECOND: AUTHORIZING the issuance of $1,750,000 serial
bonds of the Town pursuant to the Local Finance Law of the State
of New York (the "Law") to finance said appropriation;
THIRD: DETERMINING and STATING the period of probable
usefulness applicable to the class of objects or purposes for
which said bonds are authorized to be issued is thirty (30)
years; the proceeds of the bonds may be used to reimburse the
Town for expenditures made after the effective date hereof for
the purpose for which said bonds are authorized and the proposed
maturity of said serial bonds will exceed five (5) years;
FOURTH: DETERMINING that said bonds and any bond
anticipation notes issued in anticipation of said bonds and the
renewals of said bond anticipation notes shall be general
obligations of the Town and PLEDGING to their payment the faith
and credit of the Town;
NY[ 73844.1 015419 RES
FIFTH: DELEGATING to the Supervisor the powers and
duties as to the issuance of said bonds and any bond anticipation
notes issued in anticipation of said bonds, or the renewals
thereof; and
SIXTH: DETERMINING that a Proposition for the approval
or disapproval of this bond resolution shall be submitted to the
qualified voters of the Town at the Special Town Election to be
held on November 8, 1994 and that this bond resolution shall take
effect upon such approval.
DATED: September 20, 1994
JUDITH T. TERRY
Town Clerk
Nfl 73844.1 015419 RES
Section 1. After said bond resolution shall take
effect, the Town Clerk is hereby directed to cause said bond
resolution to be published, in full, in each of the newspapers
referred to in Section 1 hereof, and hereby designated the
official newspapers for said publication, together with a Notice
in substantially the form as provided by Section 81.00 of the
Local Finance Law, constituting Chapter 33-a of the Consolidated
Laws of the State of New York.
Section 2. This resolution shall take effect
immediately.
The adoption of the foregoing resolution was seconded
by Councilwoman Oliva and duly put to a vote on roll call,
which resulted as follows:
AYES: Supervisor Wickham, Councilman Lizewski,
Hussie, Councilman Townsend, Councilwoman Oliva, Justice Evans.
NOES: None.
Councilwoman
The resolution was declared adopted.
73844.1 015419 RES
CERTIFICATE
I, JUDITH T. TERRY, 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 the Town of Southold duly called and held
on September 20, 1994, 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
the Town of Southold this 20th day
of September, 1994.
(SEAL)
Towh Clerk
NY1 73844.1 015419 RES