HomeMy WebLinkAboutStreet Improv-Glenn & Sheppardi~O.1
UNtTBDS~ATES OF AMERICA
STATEOF'NEW YORK
COUNTY OF SUFFOLK
TC~OF~LD
40,000
~OND ANTICIPATION NOTE FOR STREET IMPFOVEMENTS-1990
The Town of Southo~d, in th~ County of Suffolk, a municipal corporation of
the
State of New York, hereby acknowledges Itself Indel~ed s~d for value rccelved promises to pay to the besa~r of this Note, o~
If it be registered, to the registered holder, ~bo sum of
---Forty Thousand ......................................... Dollars ($ 40,000 ....... ~--)
on the 18th day of October , 1991, together with interest there~ from the date bereof at t~ r~e of
---six and tv;enty-nine hundredths ........ T .... per centre ( 6.29 %) per annum, payable et m~turity.
Both principal of and Interest on this Note will be pa~d in l~wful money of the Un~I Sts~es of America, at
NORSTAR BANK, N.A., Southold, New York.
shah convert this Nbte into
At the request of the bolder, the TOW~ Clerk
a registered Note by registering it in the name of the bolder in the books of the Town kept in the office
of such Town Clerk sod eadorsi~g a certificate of such registration bereo~, after which both
principal of and interest on this Note shall be payable only to the registered holder, his legal represcotetlves, suczeesors or
transferees. This Note shall then be transferable only upon presentation to such Town Clerk
with a writtva transfer of title and such Town Clerk shall thereupon ~egister tMs
be 4sted, and sigued by the registered, h.o. ld. er, or..n]s~egm, re~a/~_v_.e~,..~ ~n-~'~c~r-of ~ ba~k or tr~st e0~psoy b~ted
and authorized ~o dobusiness in this State.
This Note is the only Note o£ an authorized issue, the princ±pal amount of
which is $40,000.
Laws oT~ the State of New~ork, tbe bohd resolution adopte~ Dy ~ne 'l~wn ~ .... .~-~--~ -,-f
1990, authorizing the issuance 'of $40,000 serial bonds for the construction or stree~
i~proven~nts along Glenn Road and Sheppard Drive, in said Town, and the Certificate
of Determination executed by the Supervisor on October 19, 1990. This Note has been
designated by th~ Town as a qualified tax-exempt obligation pursuant to the
provisions of Section 265 of the Internal Revenue Code of 1986, as amended.
The faith sod credit of such Town of Southold are hereby
It ~s hereby certified and recited that , g rc~ .........
Stute of New Yo~k to exist, to have happened sod to have been performed precedent to and in the issuance o~ tms ~ore, exm~
have happened end have been performed, end that this Note, together with all other indebtedness of such TOW5
o/: $outhold is within every ~ebt and other limit prescribed by the Constitution and laws of such State,
IN WITNESS WHEREOF, Town of So~thold
has caused this Note to be signed by its
Town Clerk
Supervisor
, and its corporate seal to be hereunto affixed and attested by its
and this Nora te be dated as of the 19th dayof October,
TOWN OF SOUTHOL~
~upe~Fvisor
ts 90.
EXTRACT OF MINUTES
Meeting of the Town Board of the Town of Southold,
in the County of Suffolk,
New York
September 11, 1990
A regular meeting of th~ 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,
1990, at 7:30 o'clock P.M. (Prevailing Time).
There were present: Honorable Scott L. Harris,
Councilpersons:
on September 11,
Raymond W. Edwards
George L. Penny IV
Ruth D. Oliva
Thomas H. Wickham
Supervisor; and
There were absent: Ellen M. Latson
Also present:
Councilman Penny
and moved its adoption:
Judith T. Terry, Town Clerk
offered the following resolution
BOND RESOLUTION OF THE TOW~ OF $OUTHOLD, NEW
YORK, ADOPTED SEPTEMBER 11, 1990, AUTHORIZING
THE CONSTRUCTION OF STREET IMPROVEMENTS ALONG
GLENN ROAD AND SHEPPARD DRIVE, IN SAID TOWN,
STATING THE ESTIMATED MAXIMUM COST THEREOF IS
$40,000, APPROPRIATING SAID AMOUNT THEREFOR,
AND AUTHORIZING THE ISSUANCE OF $40,000 SERIAL
BONDS OF SAID TOWN TO FINANCE SAID
APPROPRIATION.
Recital
WHEREAS, following the submission of a petition
requesting the permanent improvement of Glenn Road and Sheppard
Drive in the Town of Southold (herein called "Town"), in the
County of Suffolk, New York, at the estimated maximum cost of
$40,000, and after a public hearing duly called and held to
consider said improvements, the Town Board of the Town (herein
called "TowB Board"), determined pursuant to the resolution duly
adopted on February 28, 1990, that it is in the public interest
to construct the proposed street improvements to Glen Road and
Sheppard Drive pursuant to the definite plans, specifications and
estimate of cost prepared by Sidney B. Bowne & Son, as engineers
'for the Town; and
WHEREAS, it is now deemed advisable to provide financing
for said improvement by the issuance of serial bonds, or bond
anticipation notes issued in anticipation thereof, in the amount
of not to exceed $40,000;
Now, therefore, be it
RESOLVED BY THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN
THE COUNTY OF SUFFOLK, NEW YORK, (by the favorable vote of not
less than two-thirds of all the members of
FOLLOWS:
Suffolk,
said Town Board) AS
Section 1. The Town of Southold, in the County of
New York (herein called "Town"), is hereby authorized
to construct street improvements using flexible pavement with
penetration macadam or plant mix bottom course and heavy duty
bituminous concrete wearing surface in and along Glenn Road and
Sheppard Drive, in said Town, including curbs, gutters, culverts,
and other necessary improvements. The estimated maximum cost of
said specific object or purpose, including preliminary costs and
costs incidental thereto and the financing thereof, is $40,000
and said amount is hereby appropriated therefor. The plan of
financing includes the issuance of $40,000 serial bonds of the
Town to finance said appropriation, and the assessment, levy and
collection ~f special assessments from the several lots and
parcels of land within the Town ~hich the Town Board shall
determine and specify to be especially benefited by said street
improvements, so much upon and from each as shall be in just
proportion to the amount of benefit which said street
improvements shall confer upon the same, 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 $40,000, a~ hereby authorized to be i~ed pursuaat t~
the provisions of the Local Finance Law, constituting Chapter 33-
a of the Consolidated Laws
called "Law") to finance
Section 3. The
determined and declared:
of the State of New York (herein
said appropriation.
following additional matters are hereby
pursuant to this resolution are
limitations of Section 1t.00 a.
years.
(b) Current funds are not
provided as a down payment prior to
authorized by this resolution
issued in anticipation thereof
d. 3(i) of the Law.
to be issued, within the
20(c) of the Law, is fifteen (15)
required by the Law to be
the issuance of the bonds
or any bond anticipation notes
in accordance with Section 107.00
(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 Torn, 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 fafth 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
(a) The period of probable usefulness of said specific
object or purpose for which said $40,000 serial bonds authorized
provision shall be made annually ~n 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
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)
(b)
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 the
provisions of the constitution.
Section 7. This bond resolution shall take effect
immediately, and the Town Clerk of the Town, is hereby authorized
and directed to publish the foregoing resolution, ~n full,
together with a Notice attached in substantially the form
~rescribed by ~81.00 of the Law in "THE LONG ISLAND
TRAVELER-WATCHMAN," a newspaper published in $outhold, New York,
and in "THE SUFFOLK TIMES", a newspaper published in Mattituck,
New York, two newspapers 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
Councilwoman OHva and duly put to a vote on roll call,
which resulted as follows:
A~ES: Supervisor Harris, Justice Edwards, Councilman Penny,
Councilwoman 01iva, Councilman Wick'ham.
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 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
~eptem~er 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
relate to the subject matters referred to in
IN WITNESS WHEREOF, I have hereunto
affixed the corporate
Town of Southold this
September, 1990.
far as the same
said extract.
set my hand and
seal of said
llth day of
(SEAL)
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 11971
FAX t516) 765-1823
TELEPHONE (516) 765-1801
PLEASE PUBLISH THE ATTACHED BOND RESOLUTION IN ITS ENTIRETY ON SEPTEMBER
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 Long Island Traveler-Watchman
The Suffolk Times
Board of Assessors
John Cushman
Town Clerk's Bulletin Board
NOTICE
The resolution published herewith has been adopted on
the llth day of September, 1990, and 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 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 SEPTEMBER 11, 1990, AUTHORIZING
THE CONSTRUCTION OF STREET IMPROVEMENTS ALONG
GLENN ROAD AND SHEPPARD DRIVE, IN SAID TOWN,
STATING THE ESTIMATED MAXIMUM COST THEREOF IS
$40,000, APPROPRIATING SAID AMOUNT THEREFOR,
AND AUTHORIZING THE ISSUANCE OF $40,000 SERIAL
BONDS OF SAID TOWN TO FINANCE SAID
APPROPRIATION.
Recital
WHEREAS, following the submission of a petition
requesting the permanent improvement of Glenn Road and Sheppard
Drive in the Town of Southold (herein called "Town"), in the
County of Suffolk, New York, at the estimated maximum cost of
$40,000, and after a public hearing duly called and held to
consider said improvements, the Town Board of the Town (herein
called "Town Board"), determined pursuant to the resolution duly
adopted on February 28, 1990, that it is in the public interest
to construct the proposed street improvements to Glen Road and
Sheppard Drive pursuant to the definite plans, specifications and
estimate of cost prepared by Sidney B. Bowne & Son, as engineers
for the Town; and
WHEREAS, it is now deemed advisable to provide financing
for said improvement by the issuance of serial bonds, or bond
anticipation notes issued in anticipation thereof, in the amount
of not to exceed $40,000;
Now, therefore, be it
RESOLVED BY THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN
THE COUNTY OF SUFFOLK, NEW YORK, (by the favorable vote of not
of all the members of said Town Board) AS
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 construct street improvements using flexible pavement with
penetration macadam or plant mix bottom course and heavy duty
bituminous concrete wearing surface in and along Glenn Road and
Sheppard Drive, in said Town, including curbs, gutters, culverts,
and other necessary improvements.
said specific object or purpose,
costs incidental thereto and the
The estimated maximum cost of
including preliminary costs and
financing thereof, is $40,000
and said amount is hereby appropriated therefor. The plan of
financing includes the issuance of $40,000 serial bonds of the
Town to finance said appropriation, and the assessment, levy and
collection of special assessments from the several lots and
parcels of land within the Town which the Town Board shall
determine and specify to be especially benefited by said street
improvements, so much upon and from each as shall be in just
proportion to the amount of benefit which said street
improvements shall confer upon the same, to pay the principal
said bonds and the
and payable.
Section 2.
amount of $40,000,
the provisions of
of
interest thereon as the same shall become due
Serial bonds of the Town in the principal
are hereby authorized to be issued pursuant to
the Local Finance Law, constituting Chapter 33-
a of the
called "Law") to finance
Section 3. The
determined and declared:
Consolidated 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 $40,000 serial bonds authorized
pursuant to this resolution are to be issued, within the
limitations of Section 11.00 a. 20(c) of the Law, is fifteen (15)
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. 3(i) 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
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 9f the Town, 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 ~ublished in Southold, New York,
and in "THE SUFFOLK TIMES", a newspaper published in Mattituck,
New York, two newspapers 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, Town Clerk of the Town of Southold, New York,
being duly sworn, says that on the 14th day of September 1990
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.
Legal Notice, Bond Resolution for construction of street improvements along
Glenn Road and Sheppard Drive, Southold, $40,000.00. Adopted by
the Southold Town Board on September 11, 1990.
Judith T. Terry ~'
Southold Town Clerk
Sworn to before me this
l~.th day of SePtember1990
Notary Public
UNDA J. COOPER
Notary Public, State of Ney v
TEND. 4822563. Suff~ik (;~ .....
rm Expires December 31, I~__~
NOTICE
The resolution published
~e~'with has been adopted on
~he llth thy of September, 1990,
ind the validity of the obliga-
tions anthorizcd by such r~olu-
i tion m~' be hereafter contested
ionly if such obligations were
authorized for an object or pur-
Dose for which the TOWN OF
~OUTHOLD, in the County of
Suffolk, New York, is not
authorized to expend money or
!if the provisions of law wh!ch
' should have been complied with
as of the date of publication of
this Notice we~ not subemntiai-
ly complied with, and an action,
suit or proceeding contesting
such validity is commcoced
within twenty days after the
I publication of this Notic~ or
such obligations were anthoriz-
~ed in violation of the provisions
of the constitution.
JUDITH T. TI~RRY
Town Clerk
BOND RESO~TION OF
rile TOWN OF SOUTHOLD,
NEW YORK, ADOPTED
SEPTEMBER 11, 1990,
AUTHORIZING THE CON-
STRUCTION OF STREET IM-
PROVEMENTS ALONG
GLENN ROAD AND SHEP-
PARD DRIVE, IN SAID
TOWN, STATING THE
.ESTIMATED' MAXIMUM
COST THEREOF IS $40,O00,
APPROPRIATING SAID
AMOUNT THERFOR, AND
AUTHORIZING THE IS-
SUANCE OF ~0,000 SERIAL
BONDS OF SAID TOWN TO
FINANCE SAID
APPROPRIATION.
RECITAL
WHEREAS, following the
submission of a petition re-
questing thc pelTnanent im-
provement of Glenn Road and
Sbeppurd Drive in the Town of
Southold (herein called
"Town'!), in the County of Suf-
folk, New York, at the estimated
cost of $~0,000, and after a
public hearing duly called and
held to consider said im-
provements, the Town Board of
Board"), determined pursuant
to the resolution duly adopted
on February 28, 1990, that it is
in the public interest to con-
struct thc proposed street im-
provemcots to Glenn Road and
Sbeppurd Drive pursuant to the
definite plans, spedfications
and estimate of cost prslX~m;d by
Sidney B. Bowne & Son, as
engincers for the Town; and
WHEREAS, it is now dcem-
ed advisable to provide financ-
ing for said improvement by the
issuance of serial bonds, or
bond anticipation now in an-
ticipation thereof, in the mount
of not to exceed ~i0,000;
Now, therefore, be it
RESOLVED BY THE TOWN
BOARD OF THE TOWN OF
SOUTHOLD, IN THE COUN-
TY OF SUFFOLK, NEW
YORK, (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 (berein called
"Town"), is hereby authorized
using flexible pavement with
penetration macadam or plant
mix bottom course and heavy
duty bituminous concrete wear-
lng surface in and along Glean
Road and Sheppard Drive, in
said Town, including curbs, gut-
ters, culverts, and other
necessary improvements. The
estimated maximum cost of said
specific object or purpose, in-
chiding preliminary costs and
costs incidental thereto and the
financing thereof, is $40,000 and
propriated therefor. The plan of
financing includes the issuance
' of $40,000 set/al bonds of the
iTown W approptia-
Finance
said
[tion, and the assessment, levy
land collection of svecial
or purpose '- which said. ..,
~O,O00seria, .ldsanthotizedCOiJN I '~ OF SUFFOLK
pursuant to thi~ re~olution are to STATI'~ (~F NEW YORK
be issued, within the limitations
of Section 11.00 a.20(c) of the
Law, is fifteen (15) years.
(b) Current funds ure not re~ Patricia Wood,' being duly sworn, says that she is the
quired by the Law to be provid-
ed as a down ps3rmant prior toEditor, of THE LONG ISLAND TRAVELER-WATCHMAN,
the issuance of tbe bondsa public newspaper printed at Southold, in Suffolk County;
anth°rizedbythizr~°luti°n°r anti that the notice of which the annexed is a printed copy.
~ny bond amidyation notes
issuedinantidpafiontherenfinh.~ lit'i'll ptrt~Hsl~cd in s4icl I_oflg Isl.m(I '['r.Lvt'h'r-\.Valc'llrn,tH
accordance wi~h section lO?.00()r~ce c.~ch week far. .................... ~ ..... weck~
d.3 (i) of the Law.
(c) The pwposed maturity of ~ ~ff'
the bonds authorized by this ~tJcces~/vcly. cora~me~cing on the ......................
resolution will exceed five (5)
Section 4. I~ach o~ the bonds d ,t Vol .... y .... 1 9 ?~'..
anthori~t by this ~olution
and ~ bond anfi~pefion not~
i~ned in anticil~fion of the role
of said bonds shall contain the
r~ital of vaiidity as prescrit~d
by Section $2.00 of the Law and
~ald bonds and ~ notes issued
in anticil~tiou of ~id bonds,
shail be geuand obligations of
the Town, pebble as to both ~_~,~.~.~.~
p~lncipai and interest by general ............. ~ ] 9 ~ ~..
tax upon ail the taxable real pro-
perty within the Town without
limitation or rate or amount.
The faith and credit of tbe Town
to the pun~:uul payment of the .............................. '
prindpel of and interest on said Notary Public
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 antidpadon thereof
to mature in such year and (b)
the payment of intesest to be due
and payable in such year.
Section 5. Sub~eet to the pro-
visions of this resolution and of
the Law and pursuant to the
provisions of Section ~0.00
relative to the authorization of
the issuance of bond antidpa-
lion notes and of Section 50.00
and Sections ~6.00 to 60.00 of
the Law, the powers and duties
of the Town ~)ard t, elative to
authori=ing bond antidpation
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 antidpation of said bonds,
and the renewals of said notes,
are hereby delegated to the
Supervisor, the chief fiscal of-
fleer 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, m~y be contested only if.'
(a) such obligations are
authorized for anobject or pur-
pose for which the town is not
authorized to expend money, or
(b) the provisions of law
which should be complied with
at the date of the publication of
such resolution are not substan-
tially complied with, and an ac-
tion, suit or proceeding con-
testing such validity, is com-
menced 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 reiolu-
tion shall take effect immediate-
ly, 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 pre~ribed 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 Mat-
tituck, New York, two
newspapers having a genera] cir-
culation in the Town and hereby
designated the official
newspapers of said Town for
such publication.
IX-9/20/90(6)
before me Il'ds .......... ~.'~ ........ clay of
BARBARA A. SCHNEIDER
NOTARY PUBLIC, State of New York
N0. 4SOS846
Ou~!ifi~d in Suffolk County
C0mmissi0ll Expiros ,~/,~/4~
ins for said im~ by th~
issuanc~ of ~ boad~ or
bond anticip~ion ao~ in an-
ticip~n ti~of, in t~ ~moant
of not to ~ ~40,000;
Now, th~fom be it
BOARD OF TH~ ~ OF
SOUTHOLD. IN THB COU~
TY OF SUFFOLK, NEW
YOR.K, Coy the favomb~ ~ote of
not less thnn two-thi~d~ Of
the members of said ~own
Board) AS FOLLOWS:
Section L The ~ of
folk, New York (he.tn milled
"Town"), is t~.~.: nW. horiced
nsin~ flexible puvsment with
panettation m~,~dnm or plant
duty bituminous concrete wear-
ins surface in and alon~ Ole~n
said Tow~ includins corbs, gut-
cludln~ pre~imt~ ~omtl ~
costs incidental thereto and the
financing tbe~of, is $40000 and
pmpr~ted t~m~z T~ plen of
of $40,000 smtal bonds of the
and collection of special
and ptucels of land within the
especially benefited, by .said
street impmv~cents, so' much
upon and from each as shall be
of benefit which said street im-
provements shall coaf~ upon
the san~ to 1~0. the principal of
said bonds and the Interest
thereou as the same shall
become due smd payabl~
Seedon 2. ~'lel bonds of the
Town in tbe ~tnd~ ,mmna of
to be iuued pumnant to the I~O-
of the Comoiidated Laws of the
State of New York ~i~i~. call-
ed "Law") to finonce said
apprOpriation.
Section 3. The fOIk~ ad-
ditional matters tLre hereby
determined mind dcelam~
(a) The perhid of probable
usefulne~ of said lpednc object
which should be complied with
at the date of the publication of
such resolution are not substan-
tion, suit or proccedins con-
testins such validity, is corn-
the date of such publication, or
(c) such obligations are
authorized in violation of the
provisions of the Constitution.
Section 7. This bond re~olu-
ly, and the Town Clerk is hereby
authorized and directed to
pub&h the fot~otn~ nsolution,
in full. together with a Notice
attached in substantially the
form pt~sn'lbed by §81.0o of the
Law in "THE LONG ISLAND
TRAVELER-WATCHMAN;' a
newspaper published in
Sonthold, New ~fi)rk, and in
"THE SUFFOLK TIMES;' a
newspaper published in Mat-
tituck, New York, two
culation in the 'lbwn and hex~.-by
dcsil;nated the official
nmvspape~ of said Town for
such publication. '
IX-9/20/90(6)
Sqmsd~. 1~0. ,nd the v~dhy of
d ~ if such ~ligati~s we~
f~ ~i~ the TOWN OF
~ ~h ~ have ~
~ such ~l~l~f w~re
~ T. ~Y
T~
~ RE~LU~ON OP THE
~ OP SOUTHOLD, N~W
I I, I~0, A~OR~O THE
CON$~U~O~ O~
I~ROV~T3 ALONG
· . D~E, ~ S~ ~, STAT-
INO THE ES~ATED MAXI-
MUM COST T~REOP IS
~, A~O~O
AMOUNT ~GRBPOR, AND
A~O ~ ~U~CE
OP ~,~ 3~L BO~ OF
S~ ~ ~ ~ S~
AP~O~ON.
~EAS, f~owhg ~e sub-
~t ~t ~ Glen
R~d ~d $h~ D~ve h
Town of ~oid ~e~h ~
New y~. ~ ~ ~ ~i-
mm ~st of ~,~. ~ ~r
To~ Bo~ of ~e Town
purauant to ~e ~solution duly
it is in ~ ~Mic h~n ~
amount of not to e~ced $40.000.
Now, tfm~fem, be it
RB~OLVHD BY THE TOWN
BOARD OF THB TOWN OF
SOUTHOLD. IN THB COUNTY
OF SUJ~OLK, NBW YO~K, (~,
the favorable vote of no~ less than
in the Coumy of Su~olk, New yeth
authorized to co·street street
impmveme~u ~g BedMe ~av~.
mem with pmm~ mm~m or
phm mix bmmm eemu ~ml heevy
du~ bimmbmm ce~e~e mt4ng
suffice in and along Glenn Ro~d
includin~ cufl~, p#~rs, culvefls,
The e~-*~ nm~nm~ c~t of mid
finze~in~ intindes ~ ismanee of
assuam~n~ ~ sad ~tina of
special ascessm~ms from serial
~q ~xen ,Mw~oJ ~
airily benefited by s~M Rreet
impovunenu, so much upon and
fnm cesh as shall he in jmt ffopof
lib to the mnennt of benefit which
ddm ms·e, t° FeY the Irinci-
d bonds and the interest
ss ~be same shell become
yald~
[b~inu 2. Serial bonds of the
· ~n in the principal amount of
inmd Ixmumt to the ixovisimu of
· e t.-.~__~ Fmanm Law,
Chapter 334 of the Consolidated
Laws of the State of New York
Scminm 3. The followin~ edda-
(a) The peried of ixu~bin useful.
bends authorized IX~Juant to this
20(c) of the Law, is fifteen (15)
years.
(b) CoRm fmtds am not reqin~j
by Ihe Law m be provided as a down
or any bond anticipeti(m notes is-
sued in anticipttiou thereof in ac-
~dmLaw.
(e) Tbe pmtxxed mm~ty of ~
bends ambesized by this mcelminn
tbeci~eed by this res~e~a ced nn~
bond anticipath~ notes issued in
mticipatlm: d t:~e sale of said Ixxids
shall cam·in ~be recital of validity u
Law md ~d heeds md my ao~s
shah be genii obl~atinns of the
Tovm, pyab~ as to bmh prlaci~l
lbe lm~bb ~d pmpe~y wind, in Ibe
Tbe f"ah md ~ of Ihe Town am
hereby irrevocaldy pind~ed to
and intereft m fald houris aud auy
note, issued in m~.~pmina of the
sale of said bends and provision
shall be mede annually in ina budset
d~ brads md any notes in anticipt-
tion ~m~of to mam~ in such ycer
sims of ~ receintinn md of the
anticipation notes and of Section
the Law, the powers and duties of
scribtn[ the lenns, form and co~-
te~s and as to the sat8 md ~.~
of any bond anticilmrion noms
the d~id From ~m. of dm Town.
Seetinn 6. The validity of the
boeds amhod~d by this mac, mann
(a) ~ o~Sa~m am ··tho-
razed fca ze d~jett or M~po~e for
Co) ~-. tm~i~m of inw which
¢~cetin~ ceeb validity, is eom-
(c) tach ddtgatinns are autho-
rized in vt0Minn of the ix~vjs~(ms
d ~e cemthminn.
Scene 7. 'Fab bead resolutim
shaH lake after Immedlalely. md
tosether with · Notice attached in l
§81.00 of tim Law in '"I'HB LONG
ISLAND TRAVELER.WATCH- ~y
MAN," a newspaper published in
Soun,old, New Ymk, and in "THE. ~ % of Mattltuok, In
SUFFOLK TZMES," a newspaper ~;orn -'"'S that he/sm Is Principal
Imbli~ in M~uitu~, New York,
two newspol~ts havins · Se·mi T[MS~$, a Wookl¥ #owspapar~
~i~t.,~ in t~ Town .nd hem~ th· Town of $outhold~ Counly of
of said Tov~ fo~n~ ~ (ork~ sad tlmt thR Notlca of which
said #ewspaper oreo each waak tor ~L weeks
succass[va[¥~ commencing on tho 20 day of
~eptember 1990