HomeMy WebLinkAboutCompactor-TractorU~ITED STATES OF AMEriCA
~rATEOFKEW ¥Oltk S175,000
COUNTY OF SUFFOLK '~/,~
TOWN OF SOUTHOLD
'~OND ANTICIPATION NOTE FOR PURCHASE OF A COMPACTOR-TRACTOR-1987
~ The Town'of Southold, in 'the County of Suffolk, a municipal
corporation of the
S~teofN~ Yor~re~yankn~ledgesi.t~.~m&~ted~d~rvduercee/?~ Vroml~s~ ~y~ ~e~roft~
lfit~re~e~,tome~hold~.~es~of
---One Hundred Sev~n~y-Five Thousand ........... ~ ($175,000 .......
on ~e 1 S t ~y of Ap ri 1 ,1988, ~ther ~ ~t ~ fmm t~ date ~r~f at ~e rate
four 25 / 100 ......................... per ~.tom ~ ~ 25 %) per ~.m, poy~ble ~ ~.
. ~o~ p~ of ~d ~te~ on ~is No~ ~ b~ p~d ~ law~l mon~ of ~ ~ St~ of ~c5~ ~ The
Bank of New YOrk, Greenpo,~[, New York 11944.
, At the request of the holder, ~ Town Clerk shall convert this Note into
a registered Note by ee~i~toring it In the aame of the holder in' the books of the Town kept in the Office
of sFch Town,. Clerk, ,and eador~ln~ a ~ertiflente of such registration hereon, after which both
~r~h~eal of and interest on this i~oin sh~ll be p~yabte only ~o the re~isteced holder, l~ legal representatives, successors or
tans erees. This'Note sludl then tie transferable only upon presentation to such Town Clerk
with,a wittten tr~fer of role a~4 such Town Clerk shall thereupon re~ister this
.. -- , a~..d m.'l~xt, by the registered holder, or his legal represe~taflvce, and it shall be dlfly anlmowiedged or proved, or in
rae, aite.rns.u, ye..me.s~aatare thereto she, Il he cerllfled as to its genuineness by an officer of ~ heak or tenst company located
an~ autnormea to do bustnce~ in this State.
This Note is the only Note of an authorized issue, the principa~
~ TMsNc~e~ ~u~ ~muantto ~eprov~o~ of thoLoc~ Finan~ ~w,~fl~g.C}mpterS~-a ~the~n~H~ted
wsofthe~a~0fN~xo~ the bond resolution adopted by the Town Board on
November 6, 1986, authorizing the issuance of $175,000 serial bonds
for the purchase of a compactor-tractor, and the Certificate of
Determination executed by the Supervisor on April 3 , 1987. This
Note has been designated by the 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 and credit of such ToWn of Southold are hereby
~v _~1~ l)led~ed for the Imndaml paymant of the principal of and ininrcet on this Hoto ~rdJng to lt~ terms.
' Itts hereVy certified and recited //tat al~ eondit/ons, acts and thinsS required by 'the Constittit/on and statutes of the
State of New Y~rk ta ex~t, to have hapl~med and to have been performed p~ to and in the issuance of this Hote. exk~
have heppsued and h~ve been performed, and that ~ Note, to~ether with all othor indebtedness of such Town of
Southold is within every debt and other limit prescribed by the Constitution and laws of such State.
IBrWITNESS WHHREOP, the TowI', of $outhold
has caused this Note to be ~lgned by its
Town Clerk
ATTEST~
· Town Clerk
Supervisor
and its corporate seal to be hereunto afl'ed and a~ by its
and this Note to he dated 3rd day. )rtl
~8 7.
Dr
~To. R-1 ~ 140,000
UNITED STATESOF AMERICA
STATE OF NEW YORK
COUNTY OF SUFFOLK
TOWN OF SOUTHOLD
BOND ANTICIPATION NOTE FOR PURCHASE OF A COMPACTOR-TRACTOR-1988
The Town of Southold, in the County of Suffolk, a municipal
corporation of the
S~te of New Yorl~ hereby achnowie/tges Itself indebted and for value received promises to pay to the bearer of this Note~ or
if it be registered, to the registered holder, the sum of
.......... One Hundred Forty Thousand ............ Do~ars ($140,000 ....... )
on the 31st day of March , 1989, together with interest thereon from the date hereof at the rate of
..... four and three-quarters .......... per eentum (4-3/4%) per ~nnem, payable at maturity.
Both principal of and interest on ~ Note will be paid in lawful money of the United Ste~s of America, at
THE NORTH FORK BANK & TRUST COMPANY, Mattituck, New York.
At thc request of the holder, the Town Clerk sholl convert this Note into
a re~mterod Note by reghtoring it In the name of the holder in the books of the Town kept in the otflce
of such Town C]erk and endorsing a certificate of such registration hereon, after which both
pi/nc/pal of ami'Interest on this Note shall ho payable only to the registered bolder, his le~.al representatives, successors or
t~ansferees. This Note shall then bo trans/erable only upon presentation to such Town Clerk
~th a written transfer ot tide and such TOW~ C~k-~ shall thereupon register tiffs
Note in the name of the transferee In bls hoo~l~I endorse a certificate of such registration hereon. Such transfer shall
be dated, and e.i~ed by the regtst~e.r~J~, or his legal representatives, and it shall be duly acknowledged or proved, or in
the alternative me signature ~gd shall be certified as to its genuineness by an officer of a bank or trust company located
and authorized tu do business in this State.~,.~' t ~ -
This Note is th;--;~.' .~f an authorized renewal issue,
the principal amount of'~ich J,~140,000.
on November 6, 1986, authorizin9 the issuance of $175,000 serial
bonds for the purchase of a compactor-tractor, and the Certificate
of Determination executed by the Supervisor on April 1, 1988. This
Note has been designated by the Town as a qualified tax-exempt
obligation pursuant to the provisions of Section 265 of the Internal
Revenue Code of 1986, as amended.
The faith and credit of such Town of Southold are hereby
irrevocably pledged for the punctual payment of the principal of and interest on this Note according to its terms.
It is hereby certified and recited that all conditions, acts and things required by the Constitution and statutes of the
Stato of New York to exist, to have happened and to have bre~ performed preeedent to and In the issuance.o~this Note, exist,
have hopp~ed and have been performed, and that this Note, together ~th~ ~lL/~t~'e~ of such Town
of Southold Is within every debt and other I/mit prescribed by the Constitution and laws of such State.
IN,PITIlESS ~VH~REOF, the Town of Southold
has caused this Note to be si~ned by its
Town Clerk
Supervisor
and its corporate seal to be
and this Note to be dated as of the
,of April, 1988.
Clerk
sor
UNITED STATES oF AMERICA
STATE OF ~EW YORE S 105;000
cOUNTY OF SUFFOLK
T~ OF SOLrrHOLD
BOND ANTICIPATION NOTE FOR PURCHASE OF A CC[VIPACTOR-TRACTOR-l§89
Th~ TOwn, of Sputho!d in the County of Suffolk. a municipal corporation of
the
State, of N~w York~ berry ~chnowledges itself indeht~ and for value rceelved pronds~ to pay to the beaa~r of this lqot~, or
if it he regis!eyed, to thc registered holder, the sum of
-~-One Hundred Fiv~ Thousand---~ .......................... Donors ($ 105,000 ......... -)
on the .30th d~y of March , 19 90, together with interest thereon from the date he~enf at the r~e of
-.-six and one-half ............ .--~ .......... -per centum (6-1/~%) per annum, payable at maturity.
Both principal of and interest on **his Note will be. tmid in lawful money of the United St~tes of Americz, at
NORTH FORK I~NK AND TRUST CGMPANY,, Mattituck, New York.
' A~ the ' i ' ., ,
request of the holder, the Term C1 erk shall eonvert this Note into
~ reg~s~red Nots by'registering it in the name of thc holder in the books of the Town kept In the of/ice
~f ~ch ~l'O~t2 ~1~'1¢ ' :, and eedOralng ~ Certificate of ~uch reg~strati0ff hexe°n, 'o.f~er which beth
~n this Not~ ~hall be p{yo~ble only to the registered holder, his legal repre~nt~lvez, encce~0rs, or
This. Note slmll th~ be transferable only up~ pre~cntution to suc~ Town Clerk
with ~ written transtar of title ~d such ~OWtl C ~ork slmll thereupon ~egiater ~
Here' iff t~ hame'of the transferee' In his hook~ and shall endorse a 'certificate of such registration h~r~m. SUch transfer shall
be d~ted, 'a~d signed by the r~§istered holder, or his legal reprcsenteti~es, and !~ shall be ~luly acknowledge~ or proved, or in
the ~ltcrnative thc signature thereto shall be certified a~ to its genuineness by an officer of ~ bank or trust company located
: ~nd ~thoris~l tO, do business in this state.
, This Note is the or~ly Note of an authorized renewal issue, the principal
mount of which is $105,000.
:, Thta ~ i~ i~ued pu~uant tothe provisions of the Loeml Finance Law, constituting Cho,pter ~g et t~ ~nsolid~
Laws ot, t~ State of N~York, the bond resolution adopted by the To~ Board on Nov~r 6,
~86 aut~izing the issuance o~5,000 serial bonds for the purchase of a
C~ctor-tractor, and the~.Certificate of ~temination executed ~ the S~rvisor
~ Ma~ch 31.,19,89., This Note has bee~ designated by the T~ as a qualifi~
'~t~-ex~pt Obl~gation pursu~o the provisions of Section 265 of the Internal
.
E, a~ vt ~ ~ot~ ~ ~ to ~a~p~ed aha to ha~e be~ perto~ed p~t to ~a ~ me ~ee at ~ s Note ~,
have happ~ ~a have ~pe~ome~ ~a ~at t~ ~ote, to~er with ~ other ~ae~t~ess o~ sue~ TO~
"of s,outhoid ' ~thin every acht ~d o~er l~it p~scribed by ~ ~flon and laws or such Stat~
' IN'WITNESS WH~ To~ of Southold
has e~d ~is ~ote ~ ~ed h~ ~_u ~ ' Su rvisor
.... , ....~ C~,:~' . ~d its ~m~ ~ ~ ~ Mm~ ~f~ ~d at~s~ by its
~ I Clerk ~ ~t~sN~da~,~ OF ofthe 31st ~. ~Fch 1989
or
Clerk
UNITED STATES OIP AMERICA
STATE OF NEW YORK
COUNTY OF SUFFOLK
T~VN OF SOUTHDLD
~ 70,000
BOND ANTICIPATION NOTE FOR ,PURCHASE OF A CCIVIOACTOR-TRACTOR-1990
Th~ Town ,of' Southold, in the County ,of Suffolk, a municipal corporation of
le o! ~ew York, hereby acknowled6~ ~f ~de~ ~d for value ~tv~ p~ ~ pay ~ ~e ~ of ~ N~ or
---Seventy ~ousand ....................................... Do~. (~
~ ~ 29~h ~y of ~c~h , 199~, to~er ~ Intent ~m~ fm ~e da~ ~f at ~ ~ of
-~-ftve an~ n'inety~nine hundredths~--x ........ per ~ntm i 5.99 %)per ~ p~ylble
, ~th,p~p~ of ~d hte~ ~ thh Note ~ ~ ~ ~ hw~l mo~y of ~e Uffi~ Sta~ of ~eH~
~ST~ ~K, N.A., S0uthold, New York.
n~ a~ ~ do bu~ In th~ Stat~ ................. r-nY ~'~
~Zs Not~ I~ ~ only Note oi ~ authoulzed r~ne~al issue, the p~incipal
--- .:,,.-,~.,-~o,~w ~o.~ t~he bond resolution ado-ted b-'
p y
!986/ aut~ocizlng ,the issuance of ~175,000 serial bonds for the purchase of a
)r-tractor, 'a~ the Certificate of ~teminati~ eXecuted by the SU~rvisor
30, 19D0.' This Note has ~en designated ~- the To~ as a quat:}fied
~'mX X,-.l[,, ;)bi ltl,;, i,)[; , I'~;,.,{ill '~, l['i~ , r',,i% :;.,;{TH4 1{[ ' .... ' -
Tim faith and ere{lit of mleh '1'::;',:I ~' [ !),.)11 I h:: ] ~i am hereby
ir~voeablv }flediied for ~e pu~lu~ payment of t~ principal of and interest on thai Note {wcor~g ~ j[~ tern s
It [~ nca~y ~d{fed and ~dt~'~at all cunditioms, ~{s ~d t in~ ~ui~d by the ~,,mtituti~ and statnte~ of ~he
8~ of ~'ew York to ~ist, to Im~ happened and to hate he~ perfom,cd p~ce~t to~ml in tim i~uance of Utls Note, e~st,
have happm~ ~d lmve b~fl performS, ~d flzat fids Note, (o~ther with ail other im]el~edne~s of such
']'~:.hli
i){ ~(;~l:{It)}~: is within every debt ~d other limit l}~scribed by the ~neUtufion m,d laws of ~uch ~atc.
IK WITh'lit WI[giBOY. ;l:'.'.{I ,~{ b:,:~U,~:.,'.
has CmU,{ed Ihil .~.te to he si%reed hy its
, and it~ corporate ~ ~ ~ h~u~ eff~ and ut~.~ by
i9 !!,;.
'~ 0~' ~,~, · . ..,
tr~ . ' . , ' . ' .. ~~.~, '.." ' ' .. ' . ' :. ',
. .... Z~ ~.~ ~,CK '
EKTRACT OF MINUTES
Meeting of the Town Board of the Town of
in the County of Suffolk,
New York
November 6, 1986
A regular meeting of the Town Board of
Southold, in the County of Suffolk, New York,
Town Mall, Southold, New York, on November 6,
o'clock P.M. (Prevailing Time).
There were present:
Councilpersons:
Southold,
the Town of'
was held at the
1986 at 7:30
Supervisor Francis J. Murphy; and
Justice Raymond W. Edwards
Councilman Paul Stoutenburgh .
Councilman James A. Schondebare
Councilwoman Jean W. Cochran
Councilman George L. Penny IV
There were absent: None
Also present:
Councilman Schondebare
and moved its adoption:
Judith T. Terry, Town Clerk
Robert Tasker, Town Attorney
offered the following
resolution
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED NOVEMBER 6, 1986, AUTHORIZING
THE PURCHASE OF A COMPACTOR-TRACTOR, STATING
THE ESTIMATED MAXIMUM COST THEREOF IS
$175,000, APPROPRIATING SAID AMOUNT THEREFOR,
AND AUTHORIZING THE ISSUANCE OF $175,000
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
purchase a compactor-tractor for the Town landfill. The
estimated maximum cost of said specific object, including
preliminary costs and costs_incidental thereto and the financing
thereof, is $175,000 and said amount is hereby appropriated
therefor. The plan of financing includes the issuance of
$175,000 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 $175,000, are hereby authorized to be issued pursuant
to the provisions of the Local Finance Law, constituting Chapter
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
to
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 for which said $175,000 serial bonds authorized ~ursuant
to this resolution are to be issued, within the limitations of
Section 11.00 a. 28 of the Law, is fifteen (i5) years; however
the bonds authorized pursuant to this resolution or bond
anticipation notes issued in anticipation of the sale of such
bonds shall mature no later than five (5) years from the date of
original issue of such bonds or notes, whichever date is earlier.
(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 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 i~ 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
said bonds, may be contested only if:
(a)
(b)
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 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 the "SUFFOLK TIMES," a
newspaper published in Greenport, 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
Councilman Stoutenbur,qh and duly put to a vote on roll call, which
resulted as follows:
AYES:
NOES:
Supervisor Murphy, Councilman Stoutenburgh, Councilman
Schondebare, Councilwoman Cochran, Councilman Penny.
Justice Edwards.
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
November 6, 1986, 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 W~EREOF, I have hereunto set my hand and
affixed the corporate seal of said
Town of Southold this 6th day of
November, 1986.
(SEAL)
Town Clerk
STATE OF NEW YORK:
SS:
COUNTY OF SUFFOLK:
JUDITH T. TERRY,
York, being duly sworn,
years; that on the 7th
Town Clerk of the Town of Southold, New
says that she is over the age of twenty-one
day of November 1986 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 Bulletin Board, Southold Town Hall, Main Road,
Southold, New York 11971.
Bond resolution adopted by the Southold Town Board on November 6,
Authorizing the purchase of a compactor-tractor, stating the
estimated maximum cost thereof is $175,000, approp~riating said
amount therefor, and authorizing the issuance of $175,000 serial
bonds of the Town to finance said appropriation.
1986:
Judith T. Terry c~
Southold Town Clerk
Sworn to before me this
7th day of November 19 86,
JUDITH T TERRY
TO ~¥q~ CLFRK
REGISTRAR OF ¥ITAL STATISTICS
OFFICE OF THE TOWN CLERK
TOWN OF SOUTHOLD
Town Hall, 53095 Main Road
P.O. Box 728
Southold, New York 11971
TELEPHONE
(516) 765-180i
PLEASE PUBLISH THE ATTACHED NOTICE & BOND RESOLUTION IN ITS ENTIRETY
ON NOVEMBER 13, 1986, AND FORWARD THREE (3) AFFIDAVITS OF PUBLICATION
TO JUDITH T. TERRY, TOWN CLERK TOWN HALL, MAIN ROAD, SOUTHOLD, NEW
YORK 11971. '
Copies to the following:
The Long Island Traveler-Watchman
The Suffolk Times
Town Clerk's Bulletin Board
Superintendent of Highways Jacobs
NOTICE
The resolution published herewith has been adopted on
the 6th day'of November, 1986, 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 wi~h, 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 6, 1986, AUTHORIZING
THE PURCHASE OF A COMPACTOR-TRACTOR, STATING
THE ESTIMATED MAXIMUM COST THEREOF IS
$175,000, APPROPRIATING SAID AMOUNT THEREFOR,
AND AUTHORIZING THE ISSUANCE OF $175,000
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, in the County of
Suffolk, New York (herein called "Town"), is hereby authorized to
purchase a compactor-tractor for the Town landfill. The
estimated maximum cost of said specific object, including
preliminary costs and costs incidental thereto and the financing
thereof, is $175,000 and said amount is hereby appropriated
therefor. The plan of financing includes the issuance of
$175,000 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 $175,000, 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 ~f probable usefulness of said specific
object for which said $175,000 serial bonds authorized pursuant
to this resolution are to be issued, within the limitations of
Section 11.00 a. 28 of the Law, is fifteen (i5) years; however
the bonds authorized pursuant to this resolution or bond
anticipation notes issued in anticipation of the sale of such
bonds shall mature no later than five (5) years from the date of
original issue of such bonds or notes, whichever date is earlier.
(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 limitation of rate or amount. The faith and
credit of the Town are hereby irrevocably pledged to the punctual
payment of the principa'l 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 is hereby authorized and directed
to publish the foregoing resolution, in full, together with a
Notice attached in substantially the form prescribed by S81.00 of
the Law in "THE LONG ISLAND TRAVELER-WATCHMAN,- a newspaper
published in Southold, New York, and the "SUFFOLK TIMES," a
newspaper published in Greenport, New York, two newspapers having
a general circulation in the Town and hereby designated the
official newspapers of said Town for such publication.
NOTICE
The resolution publi~t~l
bo~lh hs~ been 1~logt~d on
~iw~'~ ~ l~,
~y if s~ ~liga~ we~ au-
for w~ ~ ~ OF
t~ ~ ~ ~ney ~ if
t~ ~ ~ ~w whi~
s~ ha~ ~ ~m~ ~th
tially ~ ~.~ an ~
~ ~wan~ ~ ~r the
pa~i~on of ~ No~ce, or
JUD~ T.
~ ~rk
~ ~L~ON OF
T~ ~ OF ~,
NEW' ~;' ~
NO~ 6, 1~, AU-
C~E OF A CO~
AMOU~ ~R, ~D
A~' '~ I~
SU~CE OF SlTS,~
~ ~N~ OF ~D
~ ~ ~ SAID
~O~ON.
TO~ ~ ~LD, IN
~E COU~ OF SU~O~
~L~ thy ~ fav~able ~ow
8mctian 1. Tbo Town ~ 9outh-
old~ in thru County of ~lk,
~. ~ ~ ~ fi~i~
~w, ~tut~ C~r 3~a
a~.
tionai mat~ ~ he.by d~r-
aut~ ~ ~? ~
tion or.~ ~ti~tion
aa~ of or~ i~ue of sa~
quired 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 anti-
cipation thereof in accordance
with Section 107.00 d. 4 of the
IcIThe proposed maturity of
the bo~/ds authorized by this re-
solution will not exceed five
years.
Section 4. Each of the bonds
authorisad by this resolution
ami any bond anticipation notes
isa~ in anticipation of the'sale
of said bonds shall contain the
recital of validity as prescribed
by S~-tioa $2.00 of the Law and
said ben~ ~nd any notes issued
in anticipation of said bonds,
shall be g~neral obligations of
the Town, payable as to both
principal and in~erest by general
.tax ul~n all the taxable real
property will'in the Town with-
out limitation of rate or amount.
The faith and ~it 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
bo~s and provision shall be
made annually in the budget of
tbo T~m b~ appropriation for
ia) the amortization and rede-
~ mi. th~ bonds and any
holes in anticipation thereof to
matu~ in such year and th* the
payment of interest to he due
and payable in such year.
Seotio~ 5. Subject to the provi-
slon~ of this resolution and of t he
Law and pursuant to the provi-
sions of S~tion 30.00 relative to
the authori~tion of the issuance
of bond anticipation notes and of
Section 5(~.00 and Sections 56.00
ta 60.00 of the Law, the powers
and duties of the Town Board re-
lative to authorizing bond anti-
cipation notes and prescribing
lbo terms, form and contents
and as to the sale and issuance
of tim bomis herein authorized
and of any bond anticipation
not~ issued in anticipation of
~ bomls, and the renewals of
said notes, are hereby delegated
to the Supervisor, the chief fiscal
officer of the Town.
S~-~ion 6. The validity of the
· bonds a~thorized by this resolu-
lion and of any notes issued in
anticipation of the sale of said
I~nds, may bo contested only if:
(a) such obligations are au-
tborized for an object or
purpose for which the
Town is not authorized to
"~b} the i~ovisions of law which
shm~d be compiled with at
· tbs date of the publication
of sue~ resolution are not
~lb~antially complied
.tth, ~TATE OF NEW YORK )
and an action, suit or proceeding
conte~ such validity, is com-
nmnced within twenty days after COUNTY OF RUFFOLK )
the date of such publication, or
(c) such obligations are au- Carol Sgarlata
thorized in violation of the of Oreenport.
peov/~ions of the constitu- said CounW. being duly sworn, says that he/she la
Section 7. This bond resoin- Principal Clerk of THE SUFFOLK TIMES, a Weekly
tion shall take effect im-
mediately, and the Town Clerk Newspaper, published at Greenport, in the Town
is he~.b~Y authorized and (Ii- of Southold, County of Suffolk and State of New
rested to publish the foregoing
' ' r~olution, in full, together with York, and that the Notice of which the annexed ia
a Notice attached ia substan-
._ti~lly 'the form prescribed by 8 printed copy, has been regularly published In
one
§81.~0 of the Law in '~rHE said Newspaper once each week for
LONG ISLAND TRAVELER-
WATCHMAN," a newspaper weeks successively, commencing on the 1 3
published in Seuthold, New day of
York, and the "SUFFOLK
TIMES," a newspaper published
in Greenport, New York,net~a~ <"-~ /~,;' ~./ --
· hereby designated the official
newspapers of said Town for f, rincli~l/t;lerk
such publication.
ITN1_3-5414 -- Sworn tO before
/1
bomts o~ m~tes, ~Vh~hever dat~
(b)Current fun~ are not re-