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HomeMy WebLinkAboutGull Pond Bulkhead EXTRACT OF MINUTES Meeting of the Town Board of the Town of Southold, in the County of ~uffolk, New York November 13, 1990 A regular meeting of the Town Board of the Town of Southold, in the County of Suffolk, New York, was held at the Town Hall, 53095 Main Road, Southold, New York, on November 13, 1990 at 3:30 o'clock ~.M. (Prevailing Time). There were present: Hon. Scott L. Harris, Supervisor; and Councilpersons: Raymond W. Edwards George L. Penny IV Ruth D. Oliva Ellen M. katson Thomas H. Wickham There were absent: None Also present: --Councilwoman Latson and moved its adoption: Judith T. Terry, Town Clerk Harvey A. Arnoff, T6wn Attorney offered the following resolution BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED NOVEMBER 13, 1990, AUTHORIZING THE RECONSTRUCTION OF T~E GULL POND BULKHEAD, WITHIN SAID TOWN, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $100,000, APPROPRIATING SAID AMOUNT THEREFOR, AND AUTHORIZING THE ISSUANCE OF $100,000 SERIAL BONDS OF SAID TOWN TO FINANCE SAID APPROPRIATION. SUFFOLK, less than two-thirds FOLLOWS: Section 1. The Town of Southold, in the County of Suffolk, New York (herein called "Town"), is hereby authorized to reconstruct the Gull Pond bulkhead, within said Town. The estimated maximum cost of said specific object or purpose, THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF NEW YORK, HEREBY RESOLVES (by the favorable vote of not of all the members of said Town Board) AS costs and costs incidental thereto and the $100,000 and said amount is hereby The plan of financing includes the issuance of $100,000 serial bonds of the Town to finance said appropriation, and the levy and collection of taxes on all the taxable real property in the Town to pay the principal of said bonds and the interest thereon as the same shall become due and payable. including preliminary financing thereof, is appropriated therefor. Section 2. Serial bonds of the Town in the principal amount of $100,000, are hereby authorized to be issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York (herein called "Law") to finance said appropriation. Section 3. The following additional matters are hereby determined and declared: (a) The period of probable usefulness of said specific object or purpose for which said $100,000 serial bonds authorized pursuant to this resolution are to be issued, within the limitations of Section 11.00 a. 22(b) of the Law, is twenty (20) years; however, the proposed maturity of said $100,000 serial bonds or any bond anticipation notes issued in anticipation thereof shall not exceed five (5) years from the original date of issuance of such obligations. (b) Current funds are not required by the Law to be provided as a down payment prior to the issuance of the bonds authorized by this resolution or any bond anticipation notes issued in anticipation thereof in accordance with Section 107.00 d. 4 of the Law. (c) The proposed maturity of the bonds authorized by this resolution will not 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 ~imitation of r~te 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 such year. Section 5. and of the Law and interest to be due and payable in Subject to the provisions of this resolution 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 resolution and of any notes issued in anticipation of the sale of said bonds, may be contested only if: (a) such obligations are authorized for an object or purpose for which the Town is not authorized to expend money, or (b) the provisions of law which should be complied with at the date of the publication of such resolution are not substantially complied with, and an action, suit or proceeding contesting such validity, is commenced within twenty days after the date of such publication, or (c) such obligations are authorized in violation of the provisions of the constitution. Section '7. This' bond resolution Shall take effect immediately, and the Town Clerk is hereby authorized and directed to publish the foregoing resolution, in full, together with a Notice attached in substantially the form prescribed by ~81.00 of the Law in "THE LONG ISLAND TRAVELER-WATCHMAN,- a newspaper published in Southold, New York, and in "THE SUFFOLK TIMES," a newspaper published in Mattituck, New York, each having a general circulation in the Town and hereby designated the official newspapers of said Town for such publication. The adoption of the foregoing resolution was seconded by SuoervisQr Harris and duly put to a vote on roll call, which resulted as follows: AYES: Supervisor Harris, Justice Edwards, Councilman Penny, Councilwoman Oliva, Councilwoman Latson, Councilman Wickham. NOES: None. The resolution was declared adopted. CERTIFICATE I, JUDITH T. TERRY, Town Clerk of the Town of Southold, in the County of Suffolk, State ~f 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 November 13, 1990, 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 13th day of November, 1990. (SEAL) "'-- TOW~ Clerk EXTRACT OF MINUTES Meeting of the Town Board of the Town of $outhold, in the County of Suffolk, New York December 11, 1990 A regular meeting of the Town Board of the Town of Southold, in the County of Suffolk, New York, was held at the Town Mall, 53095 Main Road, $outhold, New York, on December 11, 1990 at 7:30 o'clock ~.M. (Prevailing Time). There were present: Hon. Scott L. Harris, Supervisor; and Councilpersons: Raymond W. Edwards, Justice George L. Penny IV Ruth D. Oliva Ellen M. katson Thomas H. Wickham There were absent: None. Also present: and moved Councilwoman Latson its adoption: Judith T. Terry, Town Clerk Harvey A. Arnoff, Town Attorney offered the following resolution RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED DECEMBER 11, 1990, REPEALING AND REVOKING THE BOND RESOLUTION HERETOFORE ADOPTED NOVEMBER 13, 1990. THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote of not less than two-thirds of all the members of said Town Board): AS FOLLOWS: Section 1. The bond resolution of the Town of Southold, in the County of Suffolk, New York, heretofore adopted by the Town Board of said Town at a regular meeting of said Town Board held on November 13, 1990, and entitled: "Bond Resolution of the Town of Southold, New York, adopted November 13, 1990, authorizing the reconstruction of the Gull Pond bulkhead, within said Town, stating the estimated maximum cost thereof is $100,000, appropriating said amount therefor, and authorizing the issuance of $100,000 serial bonds of said Town to finance said appropriation," is hereby repealed and revoked. Section 2. No indebtedness has been heretofore contracted or encumbrances made pursuant to the resolution hereinabove cited in Section 1. hereof. Section 3. 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 Harris, Justice Edwards, Councilman Penny, Councilwoman Oliva, Councilwoman Latson, Councilman Wickham NOES: None. The resolution was declared adopted. Supervisor Harris resolution and moved its adoption: offered the following BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED DECEMBER ll, 1990, AUTHORIZING THE RECONSTRUCTION OF THE GULL POND BULKHEAD, WITHIN SAID TOWN, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $100,000, APPROPRIATING SAID AMOUNT THEREFOR, AND AUTHORIZING THE ISSUANCE OF $100,000 SERIAL BONDS OF SAID TOWN TO FINANCE SAID APPROPRIATION. THE TOWN BOARD OF THE TOWN OF $OUTHOLD, SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable less than two-thirds of all the ~embers of said Town FOLLOWS: Section 1. The Town of Southold, in the County of Suffolk, New York (herein called "Town"), is hereby authorized to reconstruct the Gull Pond bulkhead, within said Town. The estimated maximum cost of said specific object or purpose, including preliminary costs and costs incidental thereto and the financing thereof, is $100,000 and said amount is hereby appropriated therefor. The plan of financing includes the issuance of $100,000 serial bonds of the Town to finance said appropriation, and the levy and collection of taxes on all the taxable real property in the Town, to pay the principal of said bonds and the interest thereon as the same shall become due and payable. IN THE COUNTY OF vote of not Board) AS Section 2. amount of $100,000, to the provisions of the 33-a of the Consolidated called "Law") to finance Section 3. The determined and declared: Serial bonds of the Town in the principal are hereby authorized to be issued pursuant Local Finance Law, constituting Chapter Laws of the State of New York (herein said appropriation. following additional matters are hereby (a) The period of probable usefulness of said specific object or purpose for which said $100,000 serial bonds authorized pursuant to this resolution are to be issued, within the limitations of Section 11.00 a. 22(b) of the Law, is twenty (20) years; however, the period of prcbable usefulness of said $100,000 serial bonds is hereby limited to ten (10) years. (b) Current funds are not required by the Law to be provided as a down payment prior to the issuance of the bonds authorized by this resolution or any bond anticipation notes issued in anticipation thereof in accordance with Section 107.00 d. 4 of the Law. (c) 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, are hereby delegated to the Supervisor, the chief fiscal officer of the Town. Section 6. The validity of the bonds authorized by this resolution and of any notes issued in anticipation of the sale of said bonds, may be contested only if: (a) such obligations are authorized for an object or purpose for which the Town is not authorized to expend money, or (b) the provisions of law which should be complied with at the date of the publication of such resolution are not substantially complied with, and an action, suit or proceeding contesting such validity, is commenced within twenty days after the date of such publication, or (c) such obligations are authorized in violation of the provisions of the constitution. Section 7. This permissive referendum. bond resolution is subject to The Councilwoman Oliva and duly put resulted as follows: AYES: Supervisor Harris, NOES: adoption of the foregoing resolution was seconded by to a vote on roll call, which Justice Edwards, Councilman Penny, Councilwoman Oliva, Councilwoman Latson, Councilman Wickham. None. The resolution was declared adopted. Councilwoman Oliva offered the following resolution and moved its adoption: THE TOWN BOARD OF THE TOWN OF SOUTMOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, NEREBY RESOLVES AS FOLLOWS: Section 1. The Town Clerk of said Town of Southold, shall within ten (10) days after the adoption of this resolution cause to be published, in full, in "THE LONG ISLAND TRAVELER-WATCNMAN," a newspaper published in Southold, New York, and in "TNE SUFFOLK TIMES," a newspaper published in Mattituck, New York, two newspapers 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 SOUTHOLDr NEW YORK PLEASE TAKE NOTICE that on December 11, 1990, the Town Board of the Town of $outhold, in the County of Suffolk, New York, adopted a bond resolution entitled: "Bond Resolution of the Town of Southold, New York, adopted December ll, 1990, authorizing the reconstruction of the Gull Pond bulkhead, within said Town, stating the estimated maximum cost thereof is $100,000, appropriating said amount therefor, and authorizing the issuance of $100,000 serial bonds of said Town to finance said appropriation," an abstract of which bond resolution concisely stating the purpose and effect thereof, is as follows: FIRST: AUTHORIZING said Town to reconstruct the Gull Pond bulkhead, within said Town; and STATING the estimated maximum cost of said specific object or purpose, including preliminary costs and costs incidental thereto and the financing thereof, is $100,000; APPROPRIATING said amount therefor; STATING the plan of financing includes the the issuance of $100,000 serial bonds of the Town to finance said appropriation, and the levy and collection of taxes on all the taxable real property in the Town to pay the principal of said bonds and interest thereon; SECOND: AUTHORIZING the issuance of $100,000 bonds of the Town pursuant to the Local Finance Law of of New York (the "Law") to finance said appropriation; serial the State THIRD: DETERMINING and STATING the period of probable usefulness of the specific object, or purpose for which said $100,000 serial bonds are to be issued, is twenty (20) years; however, the period of probable usefulness of said $100,000 serial bonds is hereby limited to ten (10) years; current funds are not required by the Law to be provided prior to the issuance of the bonds or any notes in anticipation thereof; and the proposed maturity of said $100,000 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; 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: December 11, 1990 Judith T. Terry Town Clerk Section 2. After said bond resolution shall take effect, the Town Clerk is hereby directed to cause said bond resolution to be published, in full, in 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 3. Th~s 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, Justice Edwards, Councilman Penny, Councilwoman Oliva, Councilwoman Latson, Councilman Wickham. None. The resolution was declared adopted. CERTIFICATE I, JUDITH T. TERRY, Town Clerk of the Town of Southold, in the County of Suffolk, State c.f New York, MEREBY CERTIFY that the foregoing annexed extract frem the minutes of a meeting of the Town Board of said Town of $cuthold duly called and held on December 11, 1990, 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 llth day of December, 1990. (SEAL) Town Clerk JUDITH T. TERRY OFFICE OF TIdE TOWN CLERK TOWN OF SOUTHOLD Town Hall, 53095 Main Road P.O. Box I 179 Southold. New York 11971 FAX~5161 165 1823 TELEPHONE~516~765 1801 PLEASE PUBLISH THE ATTACHED NOTICE & BOND RESOLUTION IN ITS ENTIRETY ON JANUARY 17, 1991, 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 llth day of December, 1990, 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 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 this notice, or such obligations were authorized in violation of the provisions of the constitution. JUDITM T. TERRY Town Clerk BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED DECEMBER 11, 1990, AUTHORIZING THE RECONSTRUCTION OF THE GULL POND BULKHEAD, WITHIN SAID TOWN, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $100,000, APPROPRIATING SAID AMOUNT THEREFOR, AND AUTHORIZING THE ISSUANCE OF $100,000 SERIAL BONDS OF SAID TOWN TO FINANCE SAID APPROPRIATION. SUFFOLK, less than two-thirds FOLLOWS: Section 1. The Town of Suffolk, New York (herein called THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF NEW YORK, HEREBY RESOLVES (by the favorable vote of not of all the members of said Town Board) AS Southold, "Town"), in the County of is hereby authorized to reconstruct the Gull Pond bulkhead, within said Town. The estimated maximum cost of said specific object or purpose, including preliminary costs and costs incidental thereto and the financing thereof, is $100,000 and said amount is hereby appropriated therefor. The issuance of $100,000 serial appropriation, and the levy taxable real property in the Town, bonds and the interest thereon as payable. plan of financing includes the bonds of the Town to finance said and collection of taxes on all the to pay the principal of said the same shall become due and Section 2. Serial bonds of the Town in the principal amount of $100,000, are hereby authorized to be issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York (herein called "Law") to finance said appropriation. Section 3. The following additional matters are hereby determined and declared: (a) The period of probable usefulness of said specific object or purpose for which said $100,000 serial bonds authorized pursuant to this resolution are to be issued, within the limitations of Section 11.00 a. 22(b) of the Law, is twenty (20) years; however, the period of probable usefulness of said $100,000 serial bonds is hereby limited to ten (10) years. (b) Current funds are not required by the Law to be provided as a down payment prior to the issuance of the bonds authorized by this resolution or any bond anticipation notes issued in anticipation thereof in accordance with Section 107.00 d. 4 of the Law. (c) 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 year and (b) the payment of interest such year. Section 5. and of the Law and thereof to mature in such to be due and payable in Subject to the provisions of this resolution 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 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 {¢) such obligations are authorized in violation of the provisions of the constitution. Section 7. This bond resolution permissive referendum. is subject to JUDITH T. TERRY OFFICE OF THE TOWN CLERK TOWN OF SOUTHOLD Town Halt, 53095 Main Road P.O. Box 1179 Southold.. New York I 1'971 I.AX 1516~ 765 1823 FELEPHONE~$161 765-1801 PLEASE PUBLISH THE ATTACHED NOTICE & BOND RESOLUTION IN ITS ENTIRETY ON NOVEMBER 21, 1990, 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 JUDITH T. TERRY FOWN CLERK REGISTRAR OF VITAL STATISTICS Town Hall, 53095 Main Road P.O. Box I 179 Southold, New York 1197l FAX (516} 765-1823 TELEPHONE (Sl6J 765-1801 PLEASE PUBLISH THE ATTACHED NOTICE & BOND RESOLUTION IN ITS ENTIRETY ON NOVEMBER 21, 1990, 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 ~OTICE The resolution published herewith has been adopted on the 13th day of November, 1990, and the validity of the obligations authorized by such resolution may be hereafter contested 0nly 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 publication of this 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 NOVEMBER 13, 1990, AUTHORIZING THE RECONSTRUCTION OF THE GULL POND BULKHEAD, WITHIN SAID TOWN, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $100,000, APPROPRIATING SAID AMOUNT THEREFOR, AND AUTHORIZING THE ISSUANCE OF $100,000 SERIAL BONDS OF SAID TOWN TO FINANCE SAID APPROPRIATION. THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote of not less than two-thirds of all the members of said Town Board) AS FOLLOWS: Section 1. The Town of Southold, Suffolk, New York (herein called "Town"), in the County of is hereby authorized to reconstruct the Gull Pond bulkhead, within said Town. The estimated maximum cost of said specific object or purpose, including preliminary costs and costs incidental thereto and the financing thereof, is $100,000 and said amount is hereby appropriated therefor. The plan of financing includes the issuance of $100,000 serial bonds of the Town to finance said appropriation, and the levy and collection of taxes on all the taxable real property in the Town to pay the principal of said bonds and the interest thereon as the same shall become due and payable. Section 2. Serial bonds of the Town in the principal amount of $100,000, are hereby authorized to be issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York (herein called "Law") to finance said appropriation. Section 3. The following additional matters are hereby determined and declared: (a) The period of probable usefulness of said specific object or purpose for which said $100,000 serial bonds authorized pursuant to this resolution are to be issued, within the limitations of Section 11.00 a. 22(b) of the Law, is twenty (20) years; however, the proposed maturity of said $100,000 serial bonds or any bond anticipation notes issued in anticipation thereof shall not exceed five (5) years from the original date of issuance of such obligations. (b) Current funds are not required by the Law to be provided as a down payment prior to the issuance of the bonds authorized by this resolution or any bond anticipation notes issued in anticipation thereof in accordance with Section 107.00 d. 4 of the Law. (c) The proposed maturity of the bonds authorized by this resolution will not 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 ~imitation 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, are hereby delegated to the Supervisor, the chief fiscal officer of the Town. Section 6. The validity of the bonds authorized by this resolution and of any notes issued in anticipation of the sale of said bonds, may be contested only if: (a) such obligations are authorized for an object or purpose for which the Town is not authorized to expend money, or (b) the provisions of law which should be complied with at the date of the publication of such resolution are not substantially complied with, and an action, suit or proceeding contesting such validity, is commenced within twenty days after the date of such publication, or (c) such obligations are authorized in violation of the provisions of the constitution. Section '7. This' bond resolution shall take effect immediately, and the Town Clerk is hereby authorized and directed to publish the foregoing resolution, in full, together with a Notice attached in substantially the form prescribed by ~81.00 of the Law in "THE LONG ISLAND TRAVELER-WATCHMAN," a newspaper published in Southold, New York, and in "THE SUFFOLK TIMES," a newspaper published in Mattituck, New York, each having a general circulation in the Town and hereby designated the official newspapers of said Town for such publication. . ! STATE OF NEW YORK ) : SS.: COUNTY OF SUFFOLK ) JUDITH T. TERRY, being duly sworn, deposes and says: Thatshe is and at all times hereinafter mentionedme was the duly elected, qualified and acting Town Clerk of the Town of Southold, in the County of Suffolk, State of New York; That on December 13 , 1990, ~e has caused to be conspicuously posted and fastened up a Notice setting forth an abstract of the bond resolution duly adopted by the Town Board on December 11, 1990, 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 13th day of December , 1990. Nota~ lic, State of New York JOYCE M. WILKINS !a, LEGAL NOTICE TOWN OF SOUTHOLDf NEW YORK PLEASE TAKE NOTICE that on December 11, 1990, 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 December 11, 1990, authorizing the reconstruction of the Gull Pond bulkhead, within said Town, stating the estimated maximum cost thereof is $100,000, appropriating said amount therefor, and authorizing the issuance of $100,000 serial bonds of said Town to finance said appropriation," an abstract of which bond resolution concisely stating the purpose and effect thereof, is as follows: FIRST: AUTHORIZING said Town to reconstruct the Gull Pond bulkhead, within said Town; and STATING the estimated maximum cost of said specific object or purpose, including preliminary costs and costs incidental thereto and the financing thereof, is $100,000; APPROPRIATING said amount therefor; STATING the plan of financing includes the the issuance of $100,000 serial bonds of the Town to finance said appropriation, and the levy and collection of taxes on all the taxable real property in the Town to pay the principal of said bonds and interest thereon; SECOND: AUTHORIZING the issuance of $100,000 bonds of the Town pursuant to the Local Finance Law of of New York (the "Law") to finance said appropriation; serial the State THIRD: DETERMINING and STATING the period of probable usefulness of the specific object or purpose for which said $100,000 serial bonds are to be issued, is twenty (20) years; however, the period of probable usefulness of said $100,000 serial bonds is hereby limited to ten (10) years; current funds are not required by the Law to be provided prior to the issuance of the bonds or any notes in anticipation thereof; and the proposed maturity of said $100,000 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; 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: December 11, 1990 Judith T. Terry Town Clerk PLEASE PUBLISH ONCE, DECEMBER 20, 1990, 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 STATE OF NEW YORK) SS: COUNTY OF SUFFOLK) JUDITH T. TERRY, Town Clerk of the Town of Southold, New York, being duly sworn, says that on the 11th day of January 1991 she affixed a notice of which the annexed printed notice is a true copy, in a proper and substantial manner, in a most public place in the Town of Southold, Suffolk County, New 'York, to wit: Town Clerk's Bulletin Board, Southold Town Hall, Main Road, Southold, New York 11971. Notice commencing a 20 day statute of limitations with respect to the $100,000 Bond Resolution for the Gull Pond Bulkhead Reconstruction, which resolution was adopted by the Town Board on December 11, 1990. Judith T. Terry Southold Town Clerk Sworn to before me this 11th day of January_ 1991 -~ Notar~ublic / ELIZABETH ANN NEVILL[~ Notary Public, State of New Yof~ No. 52-8125850, Suffolk C Term Ex~oire$ Octobe~ 3 ~, 1 LEGAL NOTICE TOWN OF SOUTHOLD, NEW YORK PLEASE TAKE NOTICE that on December 11, 19~0, the Town Boant .of the Town of Soutboid, in the County of Suf. folk, New York, adopted a bond resolution entitled: '"Bond Resointion of the Town of Southold, New York, adOlXed D~cember 11, 1990, authorizing the ~construction of the Gull Pond Bulkhead, within said Town, stating the estimated maximum cost thereof is $100,000, ap- propriating said amount therefor, and authoi~ the i~- suance Of $100,000 serial bonds of said lb~n to finance aaid ap. proprintton:' an abstra~ of which bond re~,uti~,n eond~ely stating the ~ and effe~ thereof, is aa lbwn-tb reconstruct the Oull POnd bulkhead, within said Town; and STATING the estimated maximum cost of said specific object or purpose, in- cluding prelimS~ary coats and corn indds~atl the~eto~nd the suance of $I00,000 serial bonds of the Town to finance said ap- propriation, and the levy and collection of taxes on nil the tax- able real property in the Town to pay the principal of said bonds and interest thereon; SECOND: AUTHORIZING th~ issuance of. S100,000 serial bonds of the Town pursuant to the Locui Finance Law of the State of New York (the "Law") to finance said. appropriation; THIRD:. DETERMINING and STATING-the period of probable u~efuiness of the spedfic object or pm'pose for which said $100,000 serial bonds are w be issued, is tv,~nty (20)I years; however, the period of probable usefulness of said $100,000 sepal bonds is hereby limited to t~n (10) y~; current funds are not required by the Law to be provided pri6r to tile issuance of the bonds or any notes in anticipation thereof; and the proposed maturity of said $100,000 serial'bonds will exceed five (5) years; COUNTY OF SUFFOLK STATE OF NEW YORK ss: Patricia Wood, being duly sworn, says that she is the Editor, ~f 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 succes~.ively, commencing on the ........ q~.~. ~ ........ Sv,,0rn to before me this ckDd ''~ ..................... day of ............... , Notary Public BARBARA k NOTARY PUBLIC, No. 4806~46 Qualified in Suffo(k Commission Expir~ FOURTH: DETERMINING that said bonds and any bond anticipation not~ issued in an- ticipation of said bonds and the renewals of said bond anticipa- tion notes shall be ~eneral obligations of the 'Town and PLEDOINO to tbeir P~'ment the faith and credit of the Town; FIFTH: DELEGATING to the Supervisor the Ixneers and duties aa to the issuance of said bonds and any bond anticipa- tion notes issued in anticipation 9f said bonds, or the renewals the~of; and SIXTH: DETERMINING that the bond resolution is sub- ject ts:) a permissive referendum. DATED: December 11, 1990 Judith T. Terry Town. Clerk IX-12/20/90(13) {P6EASE TAKE ~3TICE sm mt l~mmmher 11, 1~90, the T~ ~ Su~. New Y~, ~ ~ ~solu~ ~: "B~ ResoI~ of ~e To~ ~u~dd, New Yod, ~ ~r Il, 1990, au~I ~[ST: AUTHORIZING ssid ~kh~ad, wi~in ssid Town; ~ ~O te est~aed max~ sa~ s~c~ic object or ~- ~idmtal thereto and ~ ~inl th~of, is $100~; ~OPRIA~O slid a~ includes thru issuan~ ~ S~: A~O ~ ~- of $1~,~ ~ ~s of THUD: DETERM~G ~d ~A~O ~ ~ d ~,~ ~- f~ w~ s~d S1~,~ s~ ~ ~M~ b~ htw~y ~) b ~ ~ ~ ~ (10) ~F~(~)~; FOUR~: DBT~O ~i~ u~ ~h~ ~ {~ue~l i.~ o~ ~aid ~ mud ~y Iu~ T. T~ T~ ~ STATE OF NEW YORK) }SS: COUNTY OF SUFFOLK) Sharon Rock of Mattltuck, in said County, being duly sworn, says that he/she Is Principal Clerk of THE SUFFOLK TIMES, a Weekly Newspaper, published at Mattltuck, In the Town of Southold, County of Suffolk and State of Mew York, and that the Notice of which the annexed is a printed copy, has been regula~y published in said Newspaper once each week for 1 weeks sucoesslvely, commencing on the 20 day of December 1990 -~WOm to befo day~0f ss ~qu~d by hw and dm pmbd of time has eisp~d for dm ,.~," ~:.~im · ed f'~inS ~ a t~.tifint~ for a penn,- siva rd·re·dura and · vtlld pa~i.'on ce~tested only if such obllptions v~e itld~ fei. m abject or per pose for which the TOWN OF fdk, New Yodt, if not andmdzed to ~...,-~d meney or tF the pow·dm· of with u of dm date of public·don ~ this notice were not substantially camm·need within twemy days alter e~ such ubtiptiem w~e ambxlzed in viol·on of the pray·siam ~ dte cea- JUDITH T. TIi~RY Town Oerk HaND HliSOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED DECBMBIiR Il. 1990, AUTHO. - RIZ1NG ~ RECONSTRUC- TION OF THE GULL POND BULKHEAD. WITHIN SAID TOWN. STATING THE ESTI- MATED MAXIMUM COST ~ IS SI00,000, APPRO- PRIATING SAID AMOUNT THEREFOR, AND AU- THORIZING TH~ ISSUANCE OF $100,000 SERIAL BONDS OF SAID TOWN TO FINANCE THE TOWN ROARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, HI~E~Y RESOLVES (by tho liveable ~ of not ~ze than Town ~md) AS FOLLOWS: in the County of Su~oth, New Ymk (herein culled "Town"), is hereby authorized to reconstruct the Gull Pond bulkhead, within said Town. The egdmated maximum cost of said specific object or pupose, including $I00,0(~ and said amount is hen·by appropriated therefor. The pbn of fina~ includes thc issuanc~ of Sl00,0fl0 serial/~eds of tho Town to taxa~e real punS~m~ in thc Town, to pay the principal of said be·ds and $100,000, I~ hereby aud~fized to be issued persuant to thc provisions of the La~al Finance Law, constituting Chapter 33-a of the Consolidated Laws of thc Ste~e of New Yoth (here. in called "Law") to finance said Section 3. The following eddi- tiered msum ere hereby damn··ned end dzehred: (a) The period of probu~ble use- pose for which said $100.000 serial oh·tin· ute to be i~sued, within tho lira·tm·nas of Section 11.00 L 22(b) ness of sind $100,000 serial he. if if henley limbed to tm (10) years. (b) Omutt funds are net required by the Law to be Movided u a down payment prior to the issuance of the b~nds auth~ized by this resohition or any ba~d anticipatim notes issued in anticipation thereof in accordance with Section 107.00 d. 4 of the Law, (c) The prolmsed maturity of the bonds authorized by this resolution wil exceed five (5) yws, Section 4. Each of the bonds an- thodzed by this resolution and any m~ticipuden of thc sale of said bands prescribed by Section 52.00 of tho shah be general oblisetinns of the Town. payable as to both principal the t~table ~d IX. Opufl¥ within the amount. The faith and credit of the say nme· issued in aotluipmien of dte sale of said b0eda md previa·nh timll Town by aFproprintion for (a) the amorrizedon and ~edemption of the bonds and my nme· in antici~ Ha·inn 5. Subject to ~he prey·siam pursuant to tbe pray·si·ns of Szetkm tion nee= wd p~esc~bin~ the ~mns, ambodzed and of any bond amicipa- den n~es issued in andcipetion of b~m~ anticipation notes, are ben:by f~:d oft'u:er of th~ Tovm: S¢otion 6. The wlidity of the hoods authorized by this resolution and of any notes issued in antic·pa- cam·ned only if.. (b) the provisions of law which date of the publication of such reJob~iea er~ net sub.tent·ally test·nj such validity, is c~nnmnced within tw~ty dna· ~fler the da~ of subject to permissive re/eta·dura. STATE OF NEW YORK} )SS: COUNTY OF SUFFOLK) ~'~/o/~ 0 ~ ~Do ~,/< of Mattltuok, In said County, being duly sworn, says that ha/she Is Principal Clerk of THE SUFFOLK TIMES, a Weekly NewspBper, published at Mattltuck, In the Town of Southold, County of Suffolk and State of Mew York, and that the MeticB of which the annexed b a printed copy, has been regulady published in said Newspaper once each week for / weeks successively, commencing on the /'7 day of  1 Clerk Swam . .JO ,~,1'l] .................... '41LII OLLI -.).ItI$OL ()J LI.I(),Y~5 ~BOA A~,qN JO aJ_V£S ,NqOJJQS JO AZNCIOD NOTICE The resolution published bereWi;th h~. :~cen ~lopted on the l. lth day of December, and an,abstract thereof ha~.been published 'and post~I it~'~e- quired by I/tw and the tberto~d of time has elapsed for tlfe'iubmi~- sion and filing.of a pet~ioflr for a permi~ve referend/sor ~md a valid ~ has not b/un sub, mitred m/fl f/led. The validity of the obli~tt/ons authorized by such res~tion may be.be~eat't~ contested o41~ if such obliga- tions were'authorized f6r an ob- ject os ~th, pose ,~or w~¢h the TOWN OF SOUTHOLD, in the County of Suffolk, New York, is not authorized to.-~peod money or :if the provision~ of law which should .have complied with as of the date'of public~t{on of thii notice not substantially'complied wiflt, and an action, 'suit or pro- ceeding contesti~ such validlY' t~"l~ commenced within tv,vnty days aftef the publi~on of ti~s notice, or. such obl~'.iOas were anthra*i~ in' violation of/,he provisJo~ts of the qonstjtution. JUDITH T, TERRy Town Clerk BOND. RESOLUTION' OF THE'TOWN OF SOWrHOED, NI~W ¥ORK~ ADOPTED DE~EMBER · I1,~ 1~90, AUT$1ORIZING. . THE RECONSTRUCTION OF. GULL BULKHEAD,. WITHIN SAID, TOWN, STATING THE ESTIMATED MAXIMUM coST THEREOF IS $I00,000, APPROPRIATING * SAID AMOUNT THERFOR, AND AUT~'tORIZINO THE IS- ~ SU~/NCE OF $100,000 SERIAL BONDS OF SAID TOWN TO FINANCE SAID APPRO- PRIATION. · TH£ TOWN. BOARD OF THE .?OWN OF SOO'ITOOLD, IN THE COUNTY~.QF SUF- FOLK, NEW YORK,.HEREBY RESOLVES (by the 'favorable t, ote of not less than two-thirds of/11/he inembers of s'~id Town Ik~rd) AS FOLLOWS: Section · L ~ Thc .To~n of Soutbuld, hi the CounW of Suf- folk, New. ~brk (her~li. called "Town"), is heleby authorized to reconstruct the Gull Pond bulkhead, within sma Town. Thc estimated maximum cost of said specific object or purpose, including I~Miminary co~s and costs incide~al thereto.a~d financing, t,h..emof, is. and sitld ~u~t,_ ~ hereby ap- p~op~a~/~d ~.~, ~'qr. ~ plan of fil~ncing in~Jud~ the issUance of $)00,000 s~l:ial I~nds of the Tbwn'to~financ~ said aPPl~°pria= tibn.~and thc levy, and oollection of'taxes on a~!l.the .taxable real prope~y in die Town, to 15ay the pri0cipal ~of.said bunds and thc interest thereon ~s the san~e shall become due ~an.d ~a~ahlc. Section 2. Serial bonds of the Town in the principal amount of $100,000, are h ~m'eb~' authorized to be issued pursuant tO thc pro- visions of-the ~o~ Finance · Law, constitUti~ ChaPter 3~-a of the C0nsO~ Laws of the State of New'Yo~'k 0tev~in call- ed "Law") to finance said appropriation. Section 3. The foll5 ,wing ad* ditional matters arc 'hereby determined a~d declared! (a) The period of probable usefulness of ~d specific object or l~ui'pose for which said $100,000 serial ~o~lds atlthoriz- ed pursuant to this ~so]ution are to be .issued, within' thc limitations Of S~ction IL00 a. 22~b) o~ the Law,' i,s.'tw~ty (20) years; however) tli~ periS~l of probable usefulness of .said $100,000 serial bunds is hereby limit~ to ten '(10) yzar~. , Co) Chrreilt 'fuhds are not re- ClUi~ed by the Law to bej~rovid= ed as a down~ payment prior to the issuance of .t~e bonds authorized by this resolution or any bond anticipation notes issq~d in ant~ipation thereof in accordance with section d. 4 of the Law. (c) Thc proposed maturity of the borids authorized by this resolution wili ~c~'~l fiv~ ($) years. Se~ion 4. Each'~f the bonds authorized by this resolution and any botid apticipation nbtes issued in anticipation of the sale of ~hid bonds shail contain thc recital of validity ~ pr~scr~bed by Section S2.00 of the Law and said bonds a~d an~ ~ote~ issued in anticipation, of said bonds, shall be general obligations of the Town, payable as to both princil~ai and interest by general tax upon all the taya~le real pro- perty 'within the Town without liroit~i~n of nt~ or amount. The f~lm'~fld cr~it of the'1~: are h~' irrev~,/bP/plcff~d to th~ l~anct~al I~yment of th~ princip~ of and interest on ~aid bonds and any notes issued in anticipation of th{ sale of s~id bonds ~md provision shall be made annually in the budget of the Town by al½prop~iafion for (a) the amortization and r~. empti~9 of the bonds and any notes,ih anticii~ation thereof to mature in such year and (b) ' the payment of interest to be due and payable in such yeas. SectiOn 5. Subject to the'pro- visions of this resolution and of the L~w and pursuant t8 the provisions of Section 30.00 relative to the authorization of the issuanCe of bond anticipa- tion notes and of Section 50.00 and Sectiqas 56.00 to 60.00 of the Law, the powers andduties of the TOw~ Board rela~v.; to ' antbu,ri~in~ .b~od ~nficipat, ion - not~ an~$ prescribing the terms, form and contents and as to the sale and issqance ,of the bonds her~in authorized: and of' any bund anticipation notes'isSued in anticipation of said bonds, aod"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 his resolu- tion and of any notes issued in anticipation Of the sale Of said bonds, may be contested only if: (a) such obligations arc autburiz~ for an Object or pur- pose for which the Town is not auth{~rized to ~pend money, or Co) the provisions of law which sh~ould be complied .with at the daife Of the publicati°n of such ~solutio. n are not su~tan- tlaily compli~l with, and an.a~:- tion ~uit br'pJxx:ceding ~.'.n- tesdn~ ~pch 'yardi0/, is menced q,4t hin t~enty da~ after the date of such publiCaqon, or (c~'. such obligafi6n~' are. au~hSrized i.,n violation of the ~ pm. viiions bi' tM: Constituti0~ Section 7. This I~hd r~solu- tion is subje~'t, W; p~'rmif, sivc referendum. IX-1/17/91(5) COUNTY. OF SUFFOLK SS; 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 tilat tile notice of which the annexed is a printed copy, hils hee~l pL~blishecl in saicl Long Islal~cl Traveler-Watchman ollce each week for. ..................... / ..... weeks successively, commencing on the ,=~ I ~ Sworn to before me this ,~.L~ J ~ day of ........ ~.~... , ~ .?.~. Notary Public BARBARA A. SCHNEIDE~ NOTARY PUBLIC, S~te.of No. 4806846 (~l~alilied in Suffolk Coup'., Commission Expires NOTICE The resolution published herewith has beon adopted on the 13th day of November, 1990, and the validity of the obliga- tions authorized by such resolu- tion may be hereafter contested only if such obligations were authorized for an object or pur- pose for which the TOWN OF SOUTHOLD, in the County of Suffolk, New York, is not authorized to expend mon~ or if the provisions of law which should have been complied with as of the date of publication of this Notice were ~ot substantial- ly complied with, and an action, suit or proceedfng contezting such validity is commenced within, twenty days after the publication of this Notice, or such obligations were anthoriz- ed in violation of the provisions of the Constitution. JUDITH T. TERRY Town Clerk BOND R~SOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED NOVEMBER 15, 1990, AUTHORIZING THE RECONSTRUCTION OF THE GULL POND BULKHEAD, · WITHIN ~AID TOWN, STATING THE ESTIMATED MAXIMUM ,COST THEREOF IS $100,000, AP- PROPRIATING SAID AMOUNT THERFOR, AND AUTHORIZING THE IS- SUANCE OF $100,000 SERIAL BONDS OF SAID TOWN TO FINANCE · SAID APPROPRIATION. THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUF- FOLK, NEW YORK, HEREW/ RESOLVES (by the favorable vote of not less than tWo-thirds of all'the members 9f said Town Board) AS FOLI~0W~; Section I. The Town of Southold, in the County Of Suf- folk, New York (herein "Town"), is hereby authorized to. reconstruct The OuR P~nd bulkhead, within said The estimated maximum c~t of said specific object or purpose, including prellm~nary costs and costs incidental' thereto and the financing .thereof, is $100,000 and said amount ~hercby ap- propriated t hei'e f~}r. "Th~ plan of financing iuch~des the issuance of $100,000 serial bonds of the Town to finance said appropria- tion, and the levy and collection of taxes on all the taxable real property in the Town to pay the principal of said'bonds and the interest thereon as the same shall become due and payable. Section 2. Serial bonds of the Town in the principal amount of $100,000, are hereby authorized to be issued pursuant to the pro- visions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York (herein call- ed "Law") to finance said appropriation. Section 3. The followh~ ad- ditional matters are hereby determhied and deciai, ed! (a) The period of probable usefuln~s of ~ SpOcifiC Object or pm'pose for which said $100,000 ~lal bonds authoriz- ed pursuant to this resolution are to be issued; within, the limitations of Section I1.00 a. 22(b) of the Law, is twenty (20) years; however, the prolJmed maturity of said $100,000 serial bonds or any bond anticipation notes issued in anticipation thereof shall not exceed five (5) yeras from the original date of issuance of such obligations. (h) Current funds are not re- quim:l by the Lawto be provid- ed ns a down paymen~ prior to thc issuance of the bonds authorized by this resolution or any bond anticipation notes is~md in antinipndon gbe~of in accordance with Sectian 107.00 d.4 of the Law. (c) The:proposed maturity of the bonds authorized by this resolution will exceed five (5) years, Section 4. Each of the bonds anthofiz~ by this resolutian and any bond anticipation notes issued in anticipation of the saie of saki bonds shall contain the rt~cit~ of validity ns prescribed by Section.gl.00 of the Law and ~id bonds and any not. issued in anticipation of said bonds, shall be general obligations of the Town, payable as to both principal and/nterast by general tax. uR~ail ~e?..~n,~, le real pro- pet~ wi~in ~he Town without lim/t/~ion of=rate or amount. The. f~'and eredit oftbe Town are heraby irrevocably pledged to the punctual payment of the principal of and interest on said bonds and any notes issued in anticipation of the saie of said bonds and provision simli be made ~nnuaily in the budget of, the Town by appropriation for (a) the amortization and redem0tion oi~ the bonds and aW notes in anticipation thereof to majeure in such year and (b) the payment of interest to be due a~d p/aytblein such ~ear. Sectio~ 5. Subj~ct to the pro- visions of this reSOlution and of the Law and pursuant 1o the provisions of Section 30.00 relative 1o the authorization of the issuance of bond anticipa- tion n(~tes 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 aa 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 ·notes, are hereby delegated to the Sul~rvisor, the chief fiscal of- fleer of the Town. Section 6. The validity of the bonds authorized by this resolu- tion and of any notes issued in anticipation of the sale of said bonds, may be enntes?~:t only if: (a) such obligations are authorized for an object or pur- pose for which the town is not authorized to expend money, or Co) the provisions of law which should be complied with at the date of the publication of such resolution am not substan- tiaily complied with, and an ac- tion, suit or proceeding con- testing such validity, is com- meuced withhi twenty days after the date of such publication, or (c) such obligations are authorized in violation of the provisions of the Constitution. Section 7. This bond resolu- tion shall take eff~ immediate- ly, and the T:nvn,Clerk is hereby authorized amt. dizected to publish the foregoing resolutior~ in full, together with a Notice attached in substantially the form prescribed by §81.00 of the Law in "THE LONG ISLAND TRAVELER-WATCHMAN;' a newspaper published in Sohthoid, New ¥orl~, and in "THE SUFFOLK TIMES;' a newspaper published in Mat- tituck, New York, each having a ~neral cireul,~lon in the Town and hereby desi~at~d the of- ficial new~unpers of ~ 'lbwn for such publication. 'lX-I l/.l$/~0(~l) "te~ltinm may be bemafter ce~test- mi ~ ff such obligations were smhod.~d for an object or pu~me fer whlob the TOWN OF falg l/aw Ymk, is net auth~ to mgmld money or if the provisicm of hiw MI/Ch should have been c~n- Plind MSh as of the date of publics_ mil M proceeding contesting sach validity is commenced within twin- ty days after the publication of this Notice. or such obligations were s~ons ~ d~ c~sshufim. .fUDl~-I T. TI~Ry Town Clerk BOND RESOLUTION OF TIIE TOWN OF SOUTHOLD, NEW YORK, ADOPTED NOVEMBER 13. 1990, AUTHO- R/ZING THE RECONSTRUc. TION OF THE GULL POND BULKHEAD, WITHIN SAID TOWN, STATING THE ESTI- MATED MAXIMUM COST THerEOF IS $100,000, APPRO- PRIATING SAID AMOUNT THEREFOR. AND AU- THORI~'~G THE ISSUANCE OF $100,000 SERIAL BONDS OF SAID TOWN TO FINANCE SAID APPROPRIATION. THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, HEREBy RESOLVES Coy the favorable yom of not less than two-thinJs of dl tbe members of said Town Beard) AS FOLLOWS: Seaim I. Thc Town d Seuthdd, /ntbe County of Suffdk, New York (herein called "Town"), is hereby anthod;~.d to reconstruct the Gull Pond bulkhead, with/n said Town. Tbe estimated mLT./mum cMt of said spuc/ftc object oF purpose,/ndudhiS is $100,000 and sam amount is here- by q~m~!.dated thn, e~ Tbe plea of fi~ancin8 includes the issuance of $100,000 serhJ Ix~ds of she Town ~_%__m~n_ ce ¥id.,app~:~fia_tinn, and T~n ~ the ~n¢i~ amonnt o~ Laws of ~e~tate of New York ~ 3. ~e foHowhg a~i- (a) ~ ~ ~ ~le a~- f~ess of said s~eific ~ect or p~se for whi~ said $1~,~ ~ ~ds au~d ~t to 3~b) of ~e Law, is tw~ty ~0) ~ is~ ~ s~ ~. ~) ~t f~ds a~ n~ ~ui~ ~s au~d ~ ~is or my ~d anticipati~ notes is- sued ~ ~tlei~on ~e~ ~ ac- · e ~ (c) ~e ~ m~ ~ ~e ~ds au~d ~ ~ ~utim w~ ~ ~ (5) ~. ~ 4. ~ ~ ~e ~ds nu- ~ ~ this ~luti~ ~d ~y STATE OF NEW YOt...J ) SS: t~ ~n Rock of Mattituck, I. ~ ~ ~ ~ being duly sworn, ~ys that he/she ~ Principal '~ : ~'~ SUFFOLK TIMES, a Weekly Newspaper, I, ~ ~ ~ ~UC~ In the Town of Southold, Coun~ of ~ ~ ,~ '~ ~ ~ ~ ~ ~ ~w York, and that the Notice of which ~.~ ~~ ~,~sb~nr~ula~publi~edm ~_~~ ~h wee~ for ~ weeks pmvisim shall be mm~ m~y le for (a) the ~m~z~on ~d redcm~ion of ~ ~dm and Lqy notes in anticipation thereof to meat of interest to be due and payable hi tach year. · Section $. Subject to the provi- sions of this resolution and of the Law and punam~ to the previsims of Section 30.00 ~lative to the thofizatica ef the issuance of bond anticipation notes and of Section · the Law, the power~ and duties of ins bond ~nticiputi~ notes and pre- scribing the terms, form ~nd con- m--.mmmklmm of al kskk kNM mdwtMid md · -a th~ ramrods d --a km~mmi~ Section 6. The validity of the bonds authorized by this resolution and of any rm~,~ ismed in antrcipu. ties of the sale of said heeds, may (a) such oblisations am autho- for which the Town is n~ au- flmrized to expand mmey, or (b) the provisions of law which end an action, suit OF proccedin8 contestil~s such validity, is com- menced within twenty d~ys ~tc~ die (c) such obligations ate autho- rized hi violation of the pro- Section 7. This bond msolutic~ shall take effect immedintidy, and and directed M publish abe fo~g resolution, in full, together with a Notice auach~ in subetantially the form prescribed by §81.00 of the Law in 'THE LONG ISLAND TRAVELER-WATCIIMAN." a newspaper published in Southold, New York, and hi "THE SUFFOLK TIMES," a newspaper published hi Mattit~ck, New York, r. ach having a general circulation in the Town and hereby designated the official news- papers of said Town for such Imbli- I on the 2 day of Principal Clerk R~ l~,,.c, S~ato o! ~ York ~o. 4gF~.5~8