HomeMy WebLinkAboutHuman Resource Center EXTRACT OF MINUTES
Meeting of the Town Board of the Town of Southold,
in the County of Suffolk, New York
October 20, 1992
A regular meeting of the Town Board of
Southold, in the County of Suffolk, New York, was held at
Town Mall, 53095 Main Road, Southold, New York, on October
1992 at ~:00 o'clock ~.M. (Prevailing Time).
There were present: Mon. Scott L. Harris,
and
the Town of
Councilpersons: Councilman George L. Penny IV
Councilman Thomas H. Wickham
Councilman Joseph J. Lizewski
Councilwoman Alice J. Hussie
the
20,
Supervisor;
There were absent: Justice Raymond W. Edwards
and moved
Also present:
Supervisor Harris
its adoption:
Judith T.
Harvey A.
offered
Terry, Town Clerk
Arnoff, Town Attorney
the
following resolution
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED OCTOBER 20, 1992, AUTHORIZING
THE ACQUISITION OF (1) THE CERTAIN PIECE OR
PARCEL OF LAND, SITUATE AT THE SOUTHEAST
CORNER OF PACIFIC STREET AND SOUND AVENUE IN
SAID TOWN, AT THE ESTIMATED MAXIMUM COST OF
$85,150, AND (2) THE BUILDING THEREON TO BE
USED AS A HUMAN RESOURCE CENTER, AT THE
ESTIMATED MAXIMUM COST OF $564,850,
APPROPRIATING SAID RESPECTIVE AMOUNTS
THEREFOR, AT THE ESTIMATED TOTAL COST THEREOF
IS $650,000, AND AUTHORIZING THE ISSUANCE OF
SERIAL BONDS OF SAID TOWN IN THE AGGREGATE
AMOUNT OF $650,000 TO FINANCE SAID
APPROPRIATIONS.
THE TOWN BOARD OF THE TOWN OF
SUFFOLK, NEW YORK, HEREBY RESOLVES (by the
less than two-thirds of all the members of
FOLLOWS:
Section 1. The Town of Southold, in the County of
Suffolk, New York (herein called "Town"), is hereby authorized
to acquire (i) the certain piece or parcel of land containing
1.25 acres, more or less, including improvements and
appurtenances thereon, situate at the southeast corner of
Street and Sound Avenue in the Town and designated on the
County Tax Map Number District-Section-Block-Lot 141.-4-24, at
SOUTHOLD, IN THE COUNTY OF
favorable vote of not
said Town Board) AS
Pacific
Suffolk
the estimated maximum cost of $85,150, which amount is hereby
appropriated therefor, and (ii) the building situate on said
land, to be used as a Human Resource Center, at the estimated
maximum cost of $564,850, which amount is hereby appropriated
therefor, including the purchase of the original furnishings,
equipment, machinery and apparatus required in connection with
the purpose for which said building is to be used. The estimated
total cost of acquiring said land and said building, including
preliminary costs and costs incidental thereto and the financing
thereof, is $650,000 and the plan of financing includes the
issuance of serial bonds in the aggregate principal amount of
$650,000 to finance said appropriations, 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 aggregate
principal amount of $650,000 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 appropriations.
Section 3. The following additional matters are hereby
determined and declared:
(a) The period of probable usefulness for the
acquisition of said land, being the specific object
for which $85,150 principal
pursuant
to Section
or purpose
amount of the serial bonds authorized
2 of this resolution are to be issued, within
the limitations of Section 11.00 a. 21.(a) of the Law, is thirty
(30) years.
(b) Said existing building authorized to be acquired
pursuant to Section l(ii) of this Bond Resolution is of Class "B"
construction as defined by Section 11.00 a. 11. (b) of the Law,
and the period of probable usefulness thereof, being the specific
object or purpose for which $564,850 of the serial bonds
authorized pursuant to Section 2 of this resolution are to be
issued, within the limitations of Section 11.00 a. 11. (b) of the
Law, is twenty (20) years.
(c) 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
intent with respect to reimbursement is made in conformity with
Treasury Regulation Section 1.103-18 of the United States
Treasury Department.
(d) The proposed maturity of the bonds authorized by
this resolution 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
appropriation for (a) the amortization and redemption
bonds and any notes in anticipation thereof to mature
year and (b) the
such year.
Section
payment of
Town by
of the
in such
interest to be due and payable in
5. Subject to the provisions of this resolution
and of the Law and pursuant to the provisions of Section 30.00
relative to the authorization of the 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
the sale of
resolution and of any notes issued in
said bonds, may be contested only if:
(a)
(b)
anticipation of
such obligations are authorized for an object or
purpose for which the Town is not authorized to
expend money, or
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
provisions of the constitution.
Section 7. This bond resolution is subject to
permissive referendum.
the
The adoption of the foregoing resolution was seconded by
Councilwoman Hussie and duly put to a vote on roll call, which
resulted as follows:
AYES: Supervisor Harris, Councilman Penny, Councilman
Wickham, Councilman Lizewski, Councilwoman Hussie.
NOES: None.
The resolution was declared adopted.
Councilman Penny
moved its adoption:
SUFFOLK,
offered the following resolution and
THE TOWN BOARD OF THE TOWN OF SOUTHOLD,
NEW YORK, HEREBY RESOLVES AS FOLLOWS:
Section 1. Within ten
IN THE COUNTY OF
(10) days after the adoption of
this resolution the Town Clerk of said Town of Southold, shall
cause to be published, in full, in "THE LONG ISLAND
TRAVELER-WATCHMAN,. a newspaper published in $outhold, New York,
and "THE SUFFOLK TIMES," a newspaper published in Mattituck, New
York, each having a general circulation within said Town and
hereby designated the official newspapers of the Town for such
publication and posted on the sign board of the Town maintained
pursuant to the Town Law, a Notice in substantially the following
form:
TOWN OF SOUTHOLD~ NEW YORK
PLEASE TAKE NOTICE that on October 20, 1992, the Town
Board of the Town of Southold, in the County of Suffolk, New
York, adopted a bond resolution entitled:
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED OCTOBER 20, 1992, AUTHORIZING
THE ACQUISITION OF (1) THE CERTAIN PIECE OR
PARCEL OF LAND, SITUATE AT THE SOUTHEAST
CORNER OF PACIFIC STREET AND SOUND AVENUE IN
SAID TOWN, AT THE ESTIMATED MAXIMUM COST OF
$85,150, AND (2) THE BUILDING THEREON TO BE
USED AS A HUMAN RESOURCE CENTER, STATING THE
ESTIMATED MAXIMUM COST OF $564,850,
APPROPRIATING SAID RESPECTIVE AMOUNTS
THEREFOR, STATING THE ESTIMATED TOTAL COST
THEREOF IS $650,000, AND AUTHORIZING THE
ISSUANCE OF SERIAL BONDS OF SAID TOWN IN THE
AGGREGATE AMOUNT OF $650,000 TO FINANCE SAID
APPROPRIATIONS.
an abstract of which bond resolution concisely stating the
purpose and effect thereof, is as follows:
FIRST: AUTHORIZING said Town to (a) acquire the parcel
of land containing 1.25 acres, more or less, including
improvements and appurtenances thereon, situate at the southeast
corner of Pacific Street and Sound Avenue in the Town and
designated on the Suffolk County Tax Map Number
District-Section-Block-Lot 141.-4-24, at the estimated maximum
cost of $85,150, and (b) acquire the building situate on said
parcel of land, to be used as a Human Resource Center, at the
estimated maximum cost of $564,850, including the purchase of the
original furnishings, equipment, machinery and apparatus
required; APPROPRIATING said respective amounts therefor; STATING
the estimated total cost of acquiring said land and building,
including preliminary costs and costs incidental thereto and the
financing thereof, is $650,000; and APPROPRIATING said respective
amounts therefor; STATING the plan of financing includes the the
issuance of $650,000 serial bonds of the Town to finance said
appropriations, and the levy and collection of taxes on all the
taxable real property within the Town to pay the principal of
said bonds and interest thereon;
SECOND:
bonds of the Town
of New York (the
AUTHORIZING the issuance of $650,000 serial
pursuant to the Local Finance Law of the State
"Law") to finance said appropriations;
THIRD: DETERMINING and DECLARING the period of probable
usefulness of the acquisition of said land is 30 years; the
existing building is of Class "B" construction and the period of
probable usefulness of the acquisition thereof authorized
pursuant to Section 1.(b) of this resolution is 20 years; the
proceeds of said bonds may be applied to reimburse the Town for
expenditures made after the effective date of said bond
resolution for the purpose for which said bonds are authorized;
and the proposed maturity of said 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;
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 the bond resolution is subject
to a permissive referendum.
DATED: October 20, 1992
Judith T. Terry
Town Clerk
effect,
resolution to
to in Section
newspapers for
Section 2. After said bond resolution shall take
the Town Clerk is hereby directed to cause said bond
be published, in full, in the newspapers referred
1 hereof, and hereby designated the official
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 3. This resolution shall take effect
immediately.
The adoption of the foregoing resolution was seconded by
Supervisor Harris and duly put to a vote on roll call, which
resulted as follows:
AYES:
NOES:
Supervisor Harris, Councilman Penny, Councilman
Wickham, Councilman Lizewski, Councilwoman Hussie.
None.
The resolution was declared adopted.
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 Town of Southold duly called and held on
October 20, 1992, 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 of Southold this 20th day of
October, 1992.
(SEAL)
'town Clerk
STATE OF NEW YORK )
:
COUNTY OF SUFFOLK )
James A. Richter , being duly
deposes and says:
1. I am a licensed architect of the
having offices at Pecenic Lane, Peconic
been retained by the Town of Southold to
sworn upon his/~ oath
State of New York,
, New York, and have
review the working
JUDITH T. TERRY
Note~ Public, Stere of New York
No 52-0344963
Qualified ~n Suffolk County
drawings and specifications relating to the building located at
the southeast corner of Pacific Street and Sound Avenue, proposed
to be acquired by the Town for use as a Human Resource Center.
2. In said capacity, I know of my own knowledge and the said
drawings and specifications show that the said building is of
Class "B" construction, as defined by Section ll.00a.ll.(b) of
the Local Finance Law, constituting Chapter 33-a of the
Consolidated Laws of the State of New York, that is to say:
ll.00a.ll(b) Class "B" (fire-resistant) buildings.
Buildings, the outer walls of which are constructed of
brick, stone, concrete, metal, stucco or other fire-
resisting material, twenty years.~ //~ //~
' / ArchiteE~
Subscribed and sworn to before me. /
this 22~d day of Octo~r , 1992 .., /
otary Public State o~;'New York
STATE OF NEW YORK
COUNTY OF SUFFOLK
JUDITH T.
That she
was the duly elected, qualified and acting Town Clerk of
of Southold, in the County of Suffolk, State of New York;
That on October 22 , 1992 , she has caused to
)
: SS.:
)
TERRY, being duly sworn, deposes and says:
is and at all times hereinafter mentioned she
the Town
be
conspicuously posted and fastened up a Notice setting forth an
abstract of the bond resolution duly adopted by the Town Board on
October 20, 1992, a copy of which is annexed hereto and made a
part hereof, on the sign board of the Town maintained pursuant to
the Town Law.
Subscribed and sworn to before me
this 22nd day of October , 1992.
Notary Public, ~a~e of New York
UNDA d. COOPER
Notary Publin, State of New Yo~k
No. 4822563, Suffolk Count, =
Term Expires December 31
~/~own Clerk
(NOTICE TO BE ATTACHED TO AND PUBLISHED WITH
RESOLUTION UPON EXPIRATION OF
PERIOD OF PERMISSIVE REFERENDUM)
NOTICE
The resolution published herewith has been adopted
on the 20th day of October, 1992, and an abstract thereof
has been published and posted as required by law and the
period of time has elapsed for the submission and filing of
a petition for a permissive referendum and a valid petition
has not been submitted and filed. The validity of the
obligations authorized by such resolution act may be
hereafter contested only if such obligations were authorized
for an object or purpose for which the TOWN OF SOUTHOLD, in
the County of Suffolk, New York, is not authorized to expend
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
proceeding contesting such validity is commenced within
twenty days after the date of publication of the notice, or
such obligations were authorized in violation of the
provisions of the constitution.
JUDITH T. TERRY
Town Clerk
TOWN OF SOUTHOLDr NEW YORK
PLEASE TAKE NOTICE that on October 20, 1992, the Town
Board of the Town of Southold, in the County of Suffolk, New
York, adopted a bond resolution entitled:
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED OCTOBER 20, 1992, AUTHORIZING
THE ACQUISITION OF (1) THE CERTAIN PIECE OR
PARCEL OF LAND, SITUATE AT THE SOUTHEAST
CORNER OF PACIFIC STREET AND SOUND AVENUE IN
SAID TOWN, AT THE ESTIMATED MAXIMUM COST OF
$85,150, AND (2) THE BUILDING THEREON TO BE
USED AS A HUMAN RESOURCE CENTER, STATING THE
ESTIMATED MAXIMUM COST OF $564,850,
APPROPRIATING SAID RESPECTIVE AMOUNTS
THEREFOR, STATING THE ESTIMATED TOTAL COST
THEREOF IS $650,000, AND AUTHORIZING THE
ISSUANCE OF SERIAL BONDS OF SAID TOWN IN THE
AGGREGATE AMOUNT OF $650,000 TO FINANCE SAID
APPROPRIATIONS.
an abstract of which bond resolution concisely stating the
purpose and effect thereof, is as follows:
FIRST: AUTHORIZING said Town to (a) acquire the parcel
of land containing 1.25 acres, more or less, including
improvements and appurtenances thereon, situate at the southeast
corner of Pacific Street and Sound Avenue in the Town and
designated on the Suffolk County Tax Map Number
District-Section-Block-Lot 141.-4-24, at the estimated maximum
cost of $85,150, and (b) acquire the building situate on said
parcel of land, to be used as a Human Resource Center, at the
estimated maximum cost of $564,850, including the purchase of the
original furnishings, equipment, machinery and apparatus
required; APPROPRIATING said respective amounts therefor; STATING
the estimated total cost of acquiring said land and building,
including preliminary costs and costs incidental thereto and the
financing thereof, is $650,000; and APPROPRIATING said respective
amounts therefor; STATING the plan of financing includes the the
issuance of $650,000 serial bonds of the Town to finance said
appropriations, and the levy and collection of takes on all the
taxable real property within the Town to pay the principal of
said bonds and interest thereon;
SECOND: AUTHORIZING the issuance of $650,000 serial
bonds of the Town pursuant to the Local Finance Law of the State
of New York (the "Law") to finance said appropriations;
THIRD: DETERMINING and DECLARING the period of probable
usefulness of the acquisition of said land is 30 years; the
existing building is of Class "B" construction and the Deriod of
probable usefulness of the acquisition thereof authorized
pursuant to Section 1.(b) of this resolution is 20 years; the
proceeds of said bonds may be applied to reimburse the Town for
expenditures made after the effective date of said bond
resolution for the purpose for which said bonds are authorized;
and the proposed maturity of said 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;
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 the bond resolution is subject
to a permissive referendum.
DATED: October 20, 1992
Judith T. Terry
Town Clerk
JUDITH T. TERRY
TOWN CLERK
REGISTRAR OF VITAL STATISTICS
OFFICE OF THE TOWN CLERK
TOWN OF SOUTHOLD
Town Hall, 53095 Main Road
P.O. Box 1179
Southold, New York 1197l
FAX (516) 765-1823
TELEPHONE (516) 765-1801
PLEASE PUBLISH THE ATTACHED NOTICE IN ITS ENTIRETY ON DECEMBER 1'7,
1992, AND FORWARD TWO (2) AFFIDAVITS OF PUBLICATION TO JUDITH TERRY,
TOWN CLERK, TOWN HALL, MAIN ROAD, SOUTHOLD, NEW YORK 11971.
Copies to the following:
The Traveler-Watchman
The Suffolk Times
Town Clerk's Bulletin Board
NOTICE
The resolution published herewith has been adopted
on the 20th day of October, 1992, and an abstract thereof
has been published and posted as required by law and the
period of time has elapsed for the submission and filing of
a petition for a permissive referendum and a valid petition
has not been submitted and filed. The validity of the
obligations authorized by such resolution act may be
hereafter contested only if such obligations were authorized
for an object or purpose for which the TOWN OF SOUTHOLD, in
the County of Suffolk, New York, is not authorized to expend
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
proceeding contesting such validity is commenced within
twenty days after the date of publication of the notice, or
such obligations were authorized in violation of the
provisions of the constitution.
JUDITH T. TERRY
Town Clerk
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED OCTOBER 20, 1992, AUTHORIZING
THE ACQUISITION OF (1) THE CERTAIN PIECE OR
PARCEL OF LAND, SITUATE AT THE SOUTHEAST
CORNER OF PACIFIC STREET AND SOUND AVENUE IN
SAID TOWN, AT THE ESTIMATED MAXIMUM COST OF
$85,150, AND (2) TME BUILDING THEREON TO BE
USED AS A HUMAN RESOURCE CENTER, AT THE
ESTIMATED MAXIMUM COST OF $564,850,
APPROPRIATING SAID RESPECTIVE AMOUNTS
THEREFOR, AT THE ESTIMATED TOTAL COST THEREOF
IS $650,000, AND AUTHORIZING THE ISSUANCE OF
SERIAL BONDS OF SAID TOWN IN THE AGGREGATE
AMOUNT OF $650,000 TO FINANCE SAID
APPROPRIATIONS.
THE TOWN BOARD OF THE TOWN OF SOUTHOLD,
SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable
less than two-thirds of all the members of said Town
FOLLOWS:
Section 1. The Town of Southold, in the County of
Suffolk, New York (herein called "Town"), is hereby authorized
to acquire (i) the certain piece or parcel of land containing
1.25 acres, more or less, including improvements and
appurtenances thereon, situate at the southeast corner of Pacific
Street and Sound Avenue in the Town and designated on the Suffolk
County Tax Map Number District-Section-Block-Lot 141.-4-24, at
IN THE COUNTY OF
vote of not
Board) AS
the estimated maximum cost of $85,150, which amount is hereby
appropriated therefor, and (ii) the building situate on said
land, to be used as a Human Resource Center, at the estimated
maximum cost of $564,850, which amount is hereby appropriated
therefor, including the purchase of the original furnishings,
equipment, machinery and apparatus required in connection with
the purpose for which said building is to be used. The estimated
total cost of acquiring said land and said building, including
preliminary costs and costs incidental thereto and the financing
thereof, is $650,000 and the plan of financing includes the
issuance of serial bonds in the aggregate principal amount of
$650,000 to finance said appropriations, 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 aggregate
principal amount of $650,000 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 appropriations.
Section 3. The following additional matters are hereby
determined and declared:
(a) The period of probable usefulness for the
acquisition of said land, being the specific object or purpose
for which $85,150 principal amount of the serial bonds authorized
pursuant to Section 2 of this resolution are to be issued, within
the limitations of
(30) years.
(b) Said
Section 11.00 a. 21.(a) of the Law, is thirty
existing building authorized to be acquired
pursuant to Section l(ii) of this Bond Resolution is of Class "B"
construction as defined by Section 11.00 a. 11. (b) of the Law,
and the period of probable usefulness thereof, being the specific
object or purpose for which $564,850 of the serial bonds
authorized pursuant to Section 2 of this resolution are to be
issued, within the limitations of Section 11.00 a. 11. (b) of the
Law, is twenty (20) years.
(c) 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
intent with respect to reimbursement is made in conformity with
Treasury Regulation Section 1.103-18 of the United States
Treasury Department.
(d) The proposed maturity of the bonds authorized by
this resolution 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 30.00
relative to the authorization of the 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,
the chief fiscal officer
Section 6. The
are hereby delegated to the Supervisor,
of the Town.
validity of the bonds authorized by this
resolution and of any notes issued in anticipation of the sale
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)
of
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
permissive
(c) such obligations are authorized in violation of
provisions of the constitution.
Section 7. This bond resolution is subject to
referendum.
the
Referendum Certificate
CERTIFICATE OF 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:
That a resolution
Southold, in the County of
entitled:
of the Town Board of the Town of
Suffolk, State of New York,
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED OCTOBER 20, 1992, AUTHORIZING
THE ACQUISITION OF (1) THE CERTAIN PIECE OR
PARCEL OF LAND, SITUATE AT THE SOUTHEAST
CORNER OF PACIFIC STREET AND SOUND AVENUE IN
SAID TOWN, AT THE ESTIMATED MAXIMUM COST OF
$85,150, AND (2) THE BUILDING THEREON TO BE
USED AS A HUMAN RESOURCE CENTER, STATING THE
ESTIMATED MAXIMUM COST OF $564,850
APPROPRIATING SAID RESPECTIVE AMOUNTS
THEREFOR, STATING THE ESTIMATED TOTAL COST
THEREOF IS $650,000, AND AUTHORIZING THE
ISSUANCE OF SERIAL BONDS OF SAID TOWN IN THE
AGGREGATE AMOUNT OF $650,000 TO FINANCE SAID
APPROPRIATIONS.
was adopted October 20, 1992, and that the notice setting forth
the date of adoption of the resolution and containing an abstract
of said resolution which concisely stated the purpose and effect
thereof, was duly posted and published as required by law.
That no petition signed and acknowledged by the electors
of the Town protesting against said resolution and requesting
that said resolution be submitted to the electors of the Town for
their approval or disapproval has been filed with the Town Clerk
within thirty days after the date of the adoption thereof, or at
any other time since said adoption.
IN WITNESS ~EREOF, I have hereunto set my hand and
affixed the corporate seal of said
Town this 17th day of December ,
1992.
~ Town Clerk ~
· NOTICE
The resolution published
herewith has been adopted on
the 20th day of October, 1992,
and an abstract thereof has been
published and posted as re-
quired by law and the period of
time has elapsed for the submis-
sion and filing of a petition for
a permissive referendum and a
valid petition has not been sub-
mitted and filed. The validity of
the obligations authorized by
such resolution act may be
hereafter contested only if such
obligations 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 validi-
ty is commenced within twenty
days after the date of publica-
tion of this notice, or such
obligations were authorized in
violation of the provisions of the
Constitution.
JUDITH T. TERRY
Town Clerk
TOWN OF SOUTHOLD,
NEW YORK
PLEASE TAKE NOTICE
that on October 20, 1992, the
Town Board of the Town of
Southold, in the County of Suf-
folk, New York, adopted a bond
resolution entitled:
BOND RESOLUTION OF
THE TOWN OF SOUTHOLD,
NEW YORK, ADOPTED OC-
TOBER 20, 1992, AUTHORIZ-
ING THE ACQUISITION OF
(1) THE CERTAIN PIECE OR
PARCEL OF LAND, SITUATE
AT THE SOUTHEAST COR-
NER OF PACIFIC STREET
AND SOUND AVENUE IN
SAID TOWN, AT THE
ESTIMATED MAXIMUM
COST OF $85,150, and (2) THE
BUILDING THEREON TO BE
USED AS A HUMAN
RESOURCE CENTER,
STATING THE ESTIMATEDD
MAXIMUM COST OF
$$64,850, APPROPRIATING
SAID RESPECTIVE
AMOUNTS THEREFOR,
STATING THE ESTIMATED
TOTAL COST THEREOF IS
$650,000, AND AUTHORIZ-
ING THE ISSUANCE OF
SERIAL BONDS OF SAID
TOWN IN THE AGGREGATE
AMOUNT OF $650,000 TO
FINANCE SAID
APPROPRIATIONS.
an abstract of which bond
resolution collll~ely stating the
purpose of a~fect the~of, is
as follows: ~
FIRST:. AUTHORIZING said
Town to {a) acquire the pamel of
land containing 1.25 acres, more
or less, including improvements
and appurtenances thereon,
situate at the southeast corner of
Pacific Street and Sound Avenue
in the town and designated on
the Suffolk County Tax Map
Number District-Section-Block-
Lot 14l.-4-24, at the estimated
maximum cost of $85,150, and
(b) acquire the building situate
on said pamel of land, to be us-
ed as a Human Resource Center,
at the estimated maximum cost
of $564,850, including the pur-
chase of the original fur-
nishings, equipment, machinery
and apparatus required; AP-
PROPRIATIb~G SAID
RESPECTIVE AMOUNTS
THEREFOR: STATING the
estimated total cost of acquiring
said land and building, in-
cluding preliminary costs and
costs in. cidental thereto and the
financing thereof, is $650.000:
and APPROPRIATING said
respective amounts therefor;
STATING the plan of financing
includes the issuance of
$650,000 serial bonds of the
Town to finance said appropria-
tions, and the levy and collec-
tion of taxes on all the taxable
real property within the Town to
pay the principal of said bonds
and interest thereon;
SECOND: AUTHORIZING
the issuance of $650,000 serial
bonds of the Town pursuant to
the Local Finance Law of the
State of New York (the "Law")
to finance said appropriations:
THIRD: DETERMINING
and DECLARING the period
of probable usefulness of the ac-
quisition of said land is 30 years;
the existing building is of Class
"B" construction and the
period of probable usefulness of
the acquisition thereof authoriz-
ed pursuant to Section l.(b) of
this resolution is 20 years; the
proceeds of said bonds may be
applied to reimburse the Town
for expenditures made after the
effective date of said bond
resolution for the purpose for
which said bonds are authoriz-
ed; and the proposed maturity
of said bonds will exceed five (5)
years:
FOURTH: DETERMINING
that said bonds and any bond
anticipation notes issued in an-
ticipation of said bonds and the
renewals of said bond anticipa-
tion notes shall be general
obligations of the Town and
PLEDGING to their payment
COUNTY OF SUF
STATE OF NEW YORK
Patricia Wood, being duly sworn, says that she is the
Editor, of THE LONG ISLAND 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 Long Island Traveler-Watchman
once each week for ..................... [ ..... weeks
success veb,. corantencing on the .......... ,~.~ .g~' ......
da,, ut ...... ".~8~-w ..... 19
Notary Public
BARBARA'A: SL~'fN £lD Eft"
}IOTARY PUBLIC, Sl::,te ef New York-
N0.4gOgg46
quf!olk County
Commi:sio~; Expires
the faith and credit of the Town;
FIFTH: DELEGATING to
the Supervisor the powea'a and
duties as m the i~uance of ~id
bonds and any bond anticipa-
tion notes issued in antJcip~ttion
of said bonds, or the renewals
thereof; and
SIXTH: DETERMINING
that the bond resolution is sub-
ject to a permissive referendum.
DATED: October 20, 1992
Judith T. Terry
Town Clerk
1X-10/29/92(I)
]qOTICE
The ~solullon published bemwlth
has been sdoptcd ecl tile 20th day of
October, 1992, and an abstract thereof
has been published and posted as
required by law and ~e period of time
has elapsed for the submission and ill-
lng of a petition for a permissive refer-
endum and a valid petition has not
been submitted and filed. The validity
of the obligations authorized by such
resolution act may be hereafter con-
tested only if such obligations were
authoti?ed for an object or purpose for
which the TOWN OF SOUTHOLD. in
the County of Suffolk, New York, is
not authorized to expend money or if
the provisions of law which should
bev¢ been complied with as oftbe date
of publication of this notice wen: not
substantially complied with, and.an
action, suit or proceeding contesung
such validity is commenced within
twc~ty days after the date of publics-
Lion of the notice, or such obligations
were authorized in vlolati~n of the pro-
visions of the consdtutitm.
JUDITIt T. TERRY
Town Clerk
TOWN OF SOUTHOLD,
NEW YORK
PLEASE TAKE NO'I~CE that on
October 20, 1992. the Town Board of
the Town of Southold, in the County of
Suffolk, New York, adopted a bond
resolution entitled:
BOND RESOLUTION OF TIlE
TOWN OF SOUTIIOLD, NEW
YORK, ADOIvFED OCTOBER 20,
1992. AUTtlORIZING THE
ACQUISITION OF (1) TIlE C'ER-
TAIN PIECE OR PARCEL OF
LAND, SITUATE AT TIlE
SOUTIIEAST CORNER OF
PACIFIC STREET AND SOUND
AVENUE IN SAID TOWN, AT
TIlE ESTIMATED MAXIMUM
COST OF $85,150. AND (2) TIlE
BUILDING TIIEREON TO BE
USED AS A HUMAN RE-
SOURCE CENTER, STATING
TIlE ESTIMATED MAXIMUM
COST OF $564,850. APPRO-
PRIATING SAID RESPECTIVE
AMOUNTS THEREFOR, STAT-
ING TIlE ESTIMATED TOTAL
COST TIIEREOF 1S $650.000.
AND AUTHORIZING TEE IS-
SUANCE OF SERIAL BONDS OF
SAID TOWN IN TIlE AG-
GREGATE AMOUNT OF
$650.000 TO FINANCE SAID
Avmu~ in flsg 'lown and designated on
thc Suffolk County Tax Map Number
District-Section-Block-Lot 141.-4-24,
$85,150. and Co) acquire the building
used as a tluman Resource Center, at
$564,850, including the purchase of
APPF, OPRIATiNG said respective
amounts therefor. STATING the esti-
and building, including preliminary
the financing thereof, is $650,000; and
APPROPRIATING said respective
amounts therefor. STATING the plan
of financing includes the issuance of
$650.000 serial bonds of the Town to
finance said appropriations, and the
five (5) years;
AppRoPRIATIONS. ticipation of said bonds, or the re-
an abstract of whinh bond resolution newaIs Ihereof; and
concisely stating Ibc purpose and cf- SIXTII: DETERMINING that the
feet thereof, is as follows: bond resolutiola is subject to a per-
FIRST: AUTIIORI]dNG said Town missive referendum.
to (a) acquin~ tho parcel of land con- DATED: October 20. 19jgu2dith V. Te~y
raining 1.25 acres, more or less. Town Clerk
including improvements and appur-7524_lTO29
STATE OF NE i'ORK)
) 8S:
COUNTY OF
Cara Conklin of Mattituck, in
said County, being duly sworn, says that he/she
is Principal Clerk of THE SUFFOLK TIME~,
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 ~-nexed is a printed copy, has been regular-
ly published in said Newspaper once each week
for one weeim successively, eommenell~ on
the 29th day of Oc~oberlg02 .
Principal Clerk
L.~GAL NO~ICE
Thc ir3olution ImbEshed herewith
has be~n ad~pted on thc 20~h day of
October, 1992, and an abstract thereof
has been published and posted as
~qaired by law and thc period of time
has elapsed for the submission and
filing of a petition for a permissive
r~ferendum and a valid petition has
not been submitted and fred. Thc
validity of the obligations authoriTed
by such resolution act may be here-
after contested only if such oblige-
tiros were authorized for an object or
purpose for which the TOWN OF
SOUTHOLD, in the County of Sttf-
folk, New York. is nd authorized to
· xpend money or if the ptoviaioos of
law wince should have been complied
with as of thc date of publication of
this notice were not substantlatly
comphed with, and an action, suit or
proceeding cootesting such validity i~
commenced within twenty days after
the date of publication of the nctice,
or such obligations were authorized in
violation of thc provisions of the con-
stitetion.
JUDITH T. TERRY
Town Clerk
BOND RESOLUTION OF THE
TOWN OF SOUTHOLD, NEW
YORK, ADOPTED OCTOBER
20, 1992, AUTHORIZING THE
ACQUISITION OF (l) THE CER-
TAIN PIECE OR PARCEL OF
LAND. SITUATE AT THE
SOUTHEAST COBNER OF
PACIFIC STREET AND SOUND
AVENUE IN SAID TOWN, AT
THE ESTIMATED MAXIMUM
COST OF $85,150, AND (2) THE
BUILDING THEREON TO BE
USED AS A HUMAN RE-
SOURCE CENTER, AT THE
ESTIMATED MAXIMUM COST
OF $564,850, APPROPRIATING
SAID RESPECTIVE AMOUNTS
THEREFOR, AT THE ESTI-
MATED TOTAL COST THERE-
OF IS $650,000, AND AUTHO-
RIZING THE ISSUANCE OF
SERIAL BONDS OF SAID
TOWN IN THE AGGREGATE
AMOUNT OF $650,000 TO
FINANCE SAID APPROPRIA-
TIONS.
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 ali the members of said
Town Board) AS FOLLOWS:
Section 1. Thc Town of Southold,
in the County of Suffolk, New York
(herein called #Town*'), is hereby
autho0tiz~d to acquire (i) the certain
piece or parcel of land containing
1.25 acres, more or inss, including
improvements and appurtenances
thereon, situate at thc southeast comer
of Pacific Stleet and S~and Avolue in
thc Town and designated on the Suf-
folk County Tax Map Number Dis-
trict-section-Block-Lot 141.-4-24, at
the estlmatod maximum cost of
$85,150, winch amount is hereby ap
machinery m r~aratos required in
connection with the purpose for
winch said building is to be used. The
esHmated total ~t of acquiring said
lm~d md said building, including pre-
liminary costs and costs incidcntaI
tbereto and thc financing thereof, is
$650,000 and the plan of financing
includes the issuance of serial bonds
in thc aggregate principal amount of
$650,000 to finance said appropda-
floss, and thc lnvy and coEection of
taxes o~ all the taxable teal property
in thc 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 aggregate principal
amount of $650,000 am hereby au-
thorized to be issued pursuant to the
provisions of the Local Finance Law,
constituting Chapter 33-a of the Con-
solidated Laws of the State of New
York (herein called 'Law"), to fi-
nanc~ said appropriations.
Section 3. The following additional
matters are hereby determined and
declared:
(a) The period of probeble useful- .
ness for the acquisition of said land,
being the specific object or purpose
for winch $85,150 principal amount
of the serial bonds authorized pur-
suant to Section 2 of this resolution
are to be issued, within the [imitations
of Section 11.00 a. 21.(a) of the Law,
is thirty (30) years.
(b) Said existing building autho-
rized to be acquired pursuant to Sec-
ties l(ii) of this Bond Resolution is of
Class "B' construction as defined by
Section ll.00 a. 11. (b)of the Law,
and the period of probable usefulness
thereof, being the specific object or
purpose for which $564,850 of the
serial bonds authorized pursuant to
Section 2 of this re. solullon are to be
issued, within the limitations of Sec-
tion I1.00 a. 11. (b) of the Law, is
twenty (20) years.
(c) The proceeds of the bonds here-
in authorized and any bond antic-
ipafion nntes issued in anticipation of
said bonds may be applied to reim-
burse the Town for expaoditutes made
after the effective date of this tesofu-
fion for the purpose or purposes for
which said bonds ate authorized. The
foregoing statement of intent with
res.pact to reimbursement is made in
conformity with Treasury Regulation
Section 1.103-18 of thc United States
Treasury Department.
(d) The proposed maturity of the
bonds authorized by this resolution
will exceed Eve (5) years.
Section 4. Each of the bonds au-
thorized by this resolution and any
bond anticipation notes issued in an-
ticipation of the sale of said bonds
shah contain the reaitel of validity as
prescribed by Section 52.00 of the
Law and said bonds and any notes is-
sued 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 prin-
cipal of and interest on said bonds and
any notes issued in anticipation of the
STATE OF NEW YvRK}
)
COUNTY OF Sl~t~OLI0
Cars Conklin of Mattltuck, in
said County, being duly sworn, says that he/she
is Principal Clerk of THE SUFFOLK TIMlr-9. a
Weekly Newspaper, published at Mattituck, in
the Town of $outhold, County of Suffolk and
State of New York, and that the Notice of which
the nnnexed is m printed copy, has been regular-
ly published in said Newspaper once each week
for one weeks successively, commencing on
the 17th day of Decemberl9 92
~worn to before me this 17 th
day of. December
COUNTY OF SUFFOLK
S'['.,\ I'E OF NEW YORK
ss:
Patricia Wood, being duly sworn, says that she is the
Editor, of THE LONG ISLAND TRAVELER-WATCHMAN,
a public newspaper printed at Southold, in Snffcqk Cnunly;
/ wuek~
or. .... 19
//7
~,.v(H'rl tc, I)efm'e me 111]5 ..................... clay
.... ,
Notary Public
BARBARA A. SCHNEIDER
'~ARY PUBLIC, State of New York
No, 4806846
';fled in Su[[o[k County
"ion Expires
mMUM COST OF· $j61~1~0,
APPROPRIATI:NO
RESPECTIVE · ~A~G~
THEREFOR, ~T : THE
ESTIMATED
THEREOF IS ~
AUTHORIZING. T~.
SUANCE OF
OF SAID toWN
mN TUE
~'~uon 0. t ne ~uuowm~t au- ~n such year and (b)
ditional matters a~ hereby ~he paymmt of interest to be due
d~mi~ed lutd.~K-ciared: and pay~ole in such year.
(a) The period of probable
usefulness for the acquisition of
sai4.~lmd, being the specific ob-
ject"or purpose for which said
$8~;,,[50~princil;~tl amount of the
serial ~bonds authorized pur-
suant to SectiOn 2 of this resolu-
tion~are to be issued, within the
limitations of Section IL00 a.
21(a) of the Law, is thirty (30)
years.
(b) Said existing building
authorized tO be acquired pur-
suant to Section I (ii) of this
Section 5. Subject to the pro-
visions of this resolution and of
the Law and pursuant to the
provisions of Section 30.0
relative to the authorizatio~ of
the issuanc~ of bond anticipa-
tion t~o~tes and of Section 50.00
,~flt~Jons 56.00 m 60.00 of
~il0we~ and duties
~'~thi~ TOWn Boan;[ relative to
_~sO~ hood nlUicipation
and prescribing the terms,
.f$1i:m anti contents and as to the
~ and issuance of the bonds
NOTICE
The resot~..~c~hed
, he.with h~ b~ ~ on
the 20th day of Oe~,
the obligatm~ aut~
such ~ointion act ~y
be~fter ~nt~ Only if such
obligatio~
the ~WN OP ~OLD, in
~ d ~ or ~f~ ~mons
compli~ with ~ of ~ ~te of
n~ subsmndafiy co~ ~
ty is comm~ ~h~
tion 0f t~ nO~-~r,~uch
OR PARCEL OF L~ND,'
S~EA~- ~ER OF
~ND A~NUE .~
MAXIMUM CQ~T OF
~85.150~ A~D .. (2) ~THE
USED AS'A
THE 'ESTIMAteD ~ MAX-
R~S~EC~}V~ ~MO~
THEREFOR, . AT ~HE
AUTHORIZING THE
~c~ oF SE~ ~s
~EOATE AMOUNT' OF
RPPROPRIA~N~'
THE ~N ~D' OF
THE ~N-~ ~L~
IN THE COUNTY OF ~
RESOLVES (by the favorable
vote of not less than two-thirds
of all the members of said Town
Board) AS FOLLOWS:
Section 1. The Town of
Southold, in the County of Suf-
folk, New York (herein called
"Town"), is hereby authorized
to acq.uire (i) the certain
piece or pmcel of land contain-
~ 1.25 acre~ more or less, in-
clndin~ improvements and ap-
purtenances thereon, situate at
· the southeast, corner of Pacific
Street and Sound Avenue in the
Town and designated on the
Suffolk County Tax Map
Number District-Section-Block-
Lot 141.~24, at the estimated
maximum eo~t of $85,150,
which amount is hereby ap-
propriatod therefor, and (ii) the
building situate on said land, to
be used.as aHuman Resource
Center, ut the esthaated max-
imum cost of $564,850, which
.amount is hereby approp~ated
therefor, including the purchase
of the' m'i~nal f'm-nishings,
equipment, machine~-and ap-
paratus required in connection
with the purpose for which said
building is to be used. The
estimated total cost of uccluiring
said land and said building, in-
cluding preliminary costs and
costs incidental thereto and the.
financin~ thereof, is $650,000
and the plan of financing in-
cludes the issuance of serial
bonds in the a~re~ate principal
amon~t of'$650,000 to finance
said appropriations, and the levy
and collection of taxes on ail 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 nggregate principal
amount of $~50,000, are hereby
authorized to be issued pursUant
to the provisions of the Local
Finance Law, constituting
Chapter ~3-a of the con-
s~lidated Laws of the State of
New York (herein. called "Law")
to finhnce said appropriations.
Section 3. The following ad-
ditional matters are hereby
detormined and declared:
(a) The period of probable
usefulness for the acquisition of
said !and, heing the specific ob-
ject or purpose for which said
$85,I$0 priucipal amount of the
serial bonds authorized pur-
suafit to SectiOn 2 of this resolu-
tion are to he issued, within the
limitations of Section IL00 a.
21(a) of the Law, is thirty (30)
years.
(b) Said existing building
authorized to he acquired pur-
suant to Section I (iD of this
",~,on,,d Resolution is of Class .~.~...~ .~..,'_,e~d~ and of
-~ection 11. (b) of the La~, and
the period of pf, Pb~ble and the
usefulness thereof, hemg the anticipa.tion
Specific' object or purpose for deleBmed to
which $564,850 of rite serial chief fiscaloffi ~Mj~l~l~.~ ..'1~
bonds authorized pur~iMmt to
Section 2 of this te~i~Y.~., are ~~.._ .~
.to be i~ued, within t~
of the Law, ~s t~y [20) ye~s. ~-I~_..f~)~e_ _~nte~ted only
~ (c)'f~eWoce~dsofthe,bonds ~-~l~h obligations ar
herein i~uthorIzed ~ndan~ bond ~ for an object o
anticipation nO .t~,. issued in an- ~ for which the Town
ticipntionofs"idbondsmaybe ~'l~uthortzed to expen~
applied to reimb, uree the Town ' or
''
effective da~e of this resolution
~- the porpos~0r purposes for
whic'it s~id hond~ am'authoriz-
ed. The f~mgOin~statement of '!t~eon~with,
int~t~:l~ ~d an ataio~'suit or':pro
ment is made in conformity with -Rl~lln~ ~ snch ~lidi
'l~easury Regulation Section '~ .~,. ' ~v,~l~tn
LI03-18 Of the:Lhfited States ~ M~' fl~. da~;:of'suci
Treasnry Department. publkaflo~ of
(d) The proposed maturity of
~he bond~ authorized by this
~esolution will exceed five (5)
Section 4. Each of the bonds
isshed in ant~_ 'pation of the sale
of s~Id bonds shall contain the
~cital of validity as prescrihed
~y Section 52.OO of the Law and
.~aid bonds and any notas issu~t
in anticipation:o~ said bonds,
shall he general obligations, of
petty'within tl~ Town without
limitation of ra~ or amount,
The faith and credit of tl~ '{hwn
are hereby irrevocably pledged
to thc punctual payment of the
principal of and int~st on said
bonds and any not~ issued in
· inticl~tion of the sah~ of said
-.~onds and pro¥ision ~h~]l be
made anauntly in the bod~t of
the Town by appreciation for
(a) the amortiz&tio,, and
~edemption of the bonds and
any note~ in anticipation thereof
~h mature in such year and (b)
e payment of interest to he due
and payaMe in such year.
Section 5. SubJec~ to the pro-
visions of this re~olndon and of
the Law and pursuant to the
provisions of Section 30.0
relative to the authorization of
the issuanc~ of bond anti~ipn-
tlon q9~tes and of Section 50.00
'~.~ns s6.00 to 6O.oo of
~ and dutie~
~the ~,n Board relative to
~f~l~anot~, ~ a~lieipation
and prescribing the terms,
and contents and as to the
d i~tmnct of the bond~