HomeMy WebLinkAboutUsed Payloader (.;.' ',\¥ ,G ~.,'R-1985
I~O%!; A.',?~( :.;~..O. ."<O'7i'. I'OR z%IRC:IAS~, '" .......
o(,t old, 'ii'l I. he (;otJHt~' SL;~f'01',~, ~ ~J~.tC.D~.I
State of ~ew York, her~l~v ae~.owled~ i~If In~bt~ m,d ~or v~ue receh'ed pmmbe~ ~ 9ay to ~c ImL~r of ~lis ~ot~ Or
if it be re~atered, to thc ~gbte~d hSlder, ~e sum of
..¢'L,.)u~._ ~ s thereon from the da~e
Fiw~ and q2.' 100 .....~~~ej~J 5, 42 %) 9er ann~ p~le aL maturity,
The Suffolk County Natio~a~~d~w York.
a ~i,J ,ce I ~o,e I~ re~sterlng It in ~e name of the holder In tim boo~ of the ']'C'.v:A
o~ ~Itc. h ~O',~li Cler'k mid endor~in~ ~ cert,&tn o( such ~iqtr~tion her~v after which
p:iuclpA[ nf mid Integer on this ~'o~ 81~1 be payable only' Io the ~lMe~,fl hal(let. Ids lespJ r~s~tative% sucre~sors ur
tt'ausfere~. 'J~iis ~ote ~lm]l Llm~t I)e transfer~c n; Iv upo:~'p~smi~U()n to such .~*~..).~D
with ~ ~.j .eu t..a, sfer or Utle aud s eh '['O~';TI ~. ~.r , slmll t~efftlp~ re~i,tcr this
~e Iw the ~me of tim trmss(erce i~ his [~o~9 ~n(l shall eado~e a ~r~iflc~tfe .f ~;mh ~ffLqtracion he~n. Such t~anbfcr sh~l
ar:il,Ir': off v,h';ch Ls $102,000.
This .%'o~ ~c i.s~'{ I)ursuant to the ])rovl~ions of the lme*d Fln~ce Law, c~msUtutlng C~p~r B~ of the ~Ud~d
of Ilia St*~tc or New Yor~ .:~(~ ~,-
c~xecuLcd by ~'ho ~" ,,',"~ ...... ober 10
hereby
It it hercl'9' ce~iP~d ~d ~ited ti nditioz;s, ac,s m.d ltd~d b)' the Colmsti.ution ~d Ft~i.ute~ of tim
State of ~cw York to ~i~,, to have I.appe~nd ~c~ ~'~dent to eitd i~* time is,ca:ice of ~ls ~ote.
llerfonx~, ~d ~at ~ot~ ~ther w[Lh ull ~]l~r Ir,t~teducys o~ such
]m~ hltl)l)erJed al]d haY(' been . ~ .....
80~ .. ~fi I d 19 wlthi, ed ~ file ~n~tit.t~n ~d laws of
hs~ ea:isc~l this Note to be signed by its
, and Its co,orate seal to be hereunto affixed and attesLed by its
and thi3 .~(~te I.o I)e dated as of thc 10th ,1,.y of o:?" ,
"O~;N
1985.
A'~EST=
, 2R- i STATE OF NEW YORK
cOU, N~Y OF' SUFFOLK ' '
BOND ANTICIPATIO1 E:
FOR ' '
$61,2o0
A PAYLOADER-i987
The Town of ,Southold, in the County of Suffolk, a municip'al
corporation of the ' '
~at~ o£'l~ew York, hereby acknowled~ca itself indebted and for value received promises fo pay to the bca~e~ of this Note, or
,;Sixty-One Thousand Two .Hundred ................. Dollars ($61,200-i ..... --)
"on the 7th day of October ,1988 ,'tosether with interest thereon from the date her~f at the rate Of
~ fi,Ye and nine,te~n hundreths . l~r e~tum (5.19 %) per aunun% payable at nmtu~ity.
Both principal of and interest on ti~ Note will he paid in lawf~fl saucy of the United States of America, at
Suffolk County National Bank, R±verhead, ~'lew York
AC the request of the holder, the Town Clerk shall convert thi~ No~e into
a re~4stered ~ote by registering it In the name of the holder in the books of the Town kept in the office
of auch Town Clerk and eodorsing a ~er~iflc. ate of such regis~ratlon hereon, after which both
~ucljpal of:and interest on this Note shall he pay~ly ~t{te {~inred holder, his legal representatives, successors or
ssercea This Note sh~ then be tra~s~k{~ o~.~_~%~pr~se~k~t{~l[ such Town Clerk
~itha written tr--fer o~ title ami S.Ch 1~I]~-~ ~ I~ shall thereupon ze~lsinr this
:Note in the nam~ of the transferee in his D~Sks and shall e~doese a ce~t~e of such registration hereon. SUCh transfer shall
be dated, and a}i~ned bY the re4~Isinred ~ or I~./~ai;~l~ti~[~[~d it shall be duly ~ctmowledged or proved, or in
the alternatile me Sl~,nature thereto s_~']~"er~ b~ to ~l~lnl~{~rby an officer of a bank or trust company located
and authorbed io do ~usiness in this State,
This Note is th~~thorized renewal issue,
the principal amount of wHihWa--i-s"%~6IT'2D0.
TMs~o~hl~ued~rsu~t~theprovisio~ ~the]Loc~ Finan~ La% ce~HtutingCh~pt~8~-aoftheCo~olMa~a
La~o~theSta~0fNewxo~, the bond resolution ado,pted b~ the Town B:oar~ on ,
July 2, 1985, author~z%ng the issuance of $125,000 s,eria%, bonds for
'the pu~ch'as~ 6f a 'used'paylOader for the,~own, and the certificate
of Dete,rmination executed by the Supervisor on October 91 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 credlt of such Town of Southold arel~ereby
irrevocably pledged for the punctual payment of the principal of and interest on this Note accord~g to its terms.
It is hereby certified and recited that all conditions, acts and things required by the Constitution and statutes of the
State of New York to exist, to have happened and to have been performed precedtmt to and in the issuance of this Note, exist,
have happened and have been performed, and that all other indebtedness of such Town of
the Constitution and laws of such State.
is witlfl~t~ed by
Southotd thegn of Southol~
IN WITNESS WHEREOF,
OOT - ? 1988
, and its corporate seal to be hereunto affixed and attested by its
Town Clerk - andihis Note to be dated as'~)~'V~e 1987.
TOWN
ATTEST~
, T0w~ C ler,k
r
S£CURITY.COLUMB[AN BANKNOTI~ COMPANY
"N,o," 3R-i' UNITED,STATES OF AMERICA
STATE OF NEW YORK S 40,800
' COUNTY OF SUFFOLK
2'E8~ OF 80U21-IOLD
BOND, ANTICIPATION NOTE FOR PURCHASE OF A PAYLOADER-1988
The, Town, of, Southold, in the County ;of' sUf~lk~ a rmoni¢ipat 'cc~P°ration' of
~ate of New York, hereby aclmowle~es itself' tncle~ and fo~ value received promises to pay to the Ee~rer of tMs Note,
If it be re~stered, to the, ,re~stered holder, the sum o~
'r-2-Forty ThoUSand Eight Hundred~ ....................... Do~,rs ~40,800 ...........
on the 6th 'day of OCtober , 1~9 , together with interest [hereou from tee date hereof at the r~ of
--x'-fiv~ and ninety-five' hunc~edths ......... per e~n~m ( 5.95 %) per ~m,m.
'Both prh~p.1 of and interest, on'rthis, Note wilt be, paid in lawful money of the Unlaced States o~ America, at
TH~ BA~ OF ~ YO~,
Greenport, New York.
At the, request pf the h°ldet, the Town Clerk ~hal! convert tMs Note, into
~ teghtered, Note. by re&.htexing, It. in the name of tiao holder in tho hooks of 'the Town kept /, the office
T.c-.:.~ ,. ]e:'k ,md e~.¢h,r..i.ir, eer~ilk'ate of tiueh forint, rail,., horn.,, after wi'id, hoU,
prhw. ip~l of and biff'retie oa thlti Note ~hnl] I~ pay e on v to ' rr;,i~tered ! ) tea', lis I' al rt' ,rls, rta i,e, SllCl'c.,sors or
tm~ferl~!l;. 11N .%o1~: ~lmll the'a h. tr~ st(r, !(: on]} ) p ~ n t t s ~.?Y~:I ( ¢.r
with a, wrlHen tran~h'r of tike a~l ~uch -~, .,
I y. ~. C Le!:'~ ~hall thercupo, reg%ter this
..l~ II,s* I1,1.11¥(. [.Le sJ~f~a!ure thereto) shall ]lo eertlllC 1 s ti) iii Fl':l~lirleT:r,~l y L ft' r of I~ I k )r tr~ ¢o · ,~ v o'lte(
'['l:.:.s Lo:o~'" :'"~: :)n'.y Note of an .... ~1 ;")r ;/,..~ .~.I%'::",v~.L 'SSUe,' ::~. pz'!nc:p~l ;~'~)un..'
o:%,~!ick i:.: :,.,J,8,0.
This Note !tl i!;~u(~l lmrsu~lt to the i)rovisions of the )'.,~:.! Yhlance Law, con~titulJ[ig (,hn,pter ~-,~ of 11 Con,)Ii(la,cA
i98~:, authorZztng tl~ m.~su=trxc~ ot S!25,000 ~'.'Lal bonds Zor I.:m~ pur'crJaso ul a used
~y]~er for ..,~ 'lt;wn, a:~l L'K~ Ce~L Ificato of :k~Le~n.:.na. ion exocu=~ by
qua!i.J Ired c~-exc*~t (fr)L~q~:H'Lo:' pur~,3az~t I.o t~x: proviszon~ z'~f L~¢:' ton 265 oi
ZnLerna'l ~,a~ntl(~ C~io gL i986, a8
The f~tilh amd ered/t of 51~dl 'l rY;.'I: f:.f' S':..R.~'..."~") Id are hereby
irrcvoe~i;Iy ph!dFell foe the pm~ud !laban'eat of tl~! principal of and interest on thR N.Lc ~cording to its ler,:~.
It is hereby curilfled ?n(] red.t~(I ttmt?dl Co:]ditto! s, ,a~ts and fhint~s requirtwl by the (.~nsUhJJiun ami .etat.,;tes of the
State o! New ~ut~ to cxbl, to m~e napgeneu and to hay(. bc~ p~tio~[:cd p~e~he~t to and in the i:~mmcc of
have hol)p~ed mt(I have I)ee~l pergo~e(], ~(i flint this Note, to~Uier ~'ith ulI u/her indcbtmh~ess of sneh
Of fk)u:hold is wl~in every debt ond other Iimi: p~scribed t)y the ~)n~itutk):l aml ],:ws ~;f ,,;::h State.
1N WlT~'ES~ WHEREOF, .~: "?:~/T: C~
hcs cra.tied |]lis .~o~.e to he slimed hy its
SuJw::'v isoz'
· ~md JLa ~rl)oralx~ ~eul U) ho he~unl~) sffixt~J and mt~J by its
ami thi~ Noa~ u) le daa~l as o[ the xiav~ ,~L;'~j~T'
o[.
t9 88.
BECURiTY.COLUMBiAN BANKNOTE COMPANY
~O. 4R-1 STAT~ OF N'~W YO~K ~ ~0.400'
,' ' ' / , ,
, ~ste of N~ York, h~eby ~wi~ i~, ~dehted ~d for valu~
ff 1~ be ~te~ tOl~'re~r~ ~1~ the anm of . .' ~ I .~ - · .~ ' .
on tM 5th ay of ~tober ,1990, tege~er ~th inter~t ~ere~ from the ~ ~f at ~ r~te. of
a--~ ....... .... ~_~_g~a__~ ............. . ...... ~-- per ~tum( ~,00 ~)l per ~' payable at m~rity," ~ '
Bo}h p~cip~ of ~fl hte~, ~ th~ N~ will ~ ~ ~ lawful money of ~e U~ ~t~ of Amed~ at
~T~ B~, N.A~., s~t~td, ~ York.
At te,~qu~i ~f ~ ~I~, t)~, ~ Clerk
i regisier~ Note by ~hE ~ h ~e n~ of ~he h~a~r In ihe Moks of the To~ kept ~ the o~.
of such ~ C~rk ~d endo~g
p~e~al of ~d, ~ter~t ~ th~ Note ~H ~ payable only to the regi~er~
t~ler~ ~s Note 8h~ t~n be tr~sferable o~y u~n preientation
~ith a writt~ tr~fer ol fi~e ~ su~ T9~ Clerk ~haH ~e~upon
~ote ~.~e n~ of the ~f~e h his ~ ~d shall ~=aor~
'~ d~ ~d sl~ ~ ~ ~e~r~' ~l~r, 'or his leal rep~tativ~,
the ~ ~e st'gnatu~ t~to lh~ he C~fied ~ to its g~uiuencss by
,and auth0ri~d to dobusln~s fn t~s State.
~ks ~te is the only ~te of ~ au~hor2z~ renewal issue, {~ princi~l
~a~ of' ~ich is $20,400.
T~ N~ h ~ued pu~u~t to t~ pmvisio~S of ~e ~d F~ance Law, constituting ~te~ ~-~ of ~ C~H~
Laws of'~ Sfa f ~ ~otk, ~ ' '
[ ~ [~,~nd'~12tion a~pt~d ~ t~ ~'~ on July 2, 1985,
aut~riz~n9 the issu~ce ~f ,$125,000, secial ~nds for ~ p~l~e of, a,us~
~de~ for t~ T~', ~d th~ C~rt~fica~e Of ~te~ation e~cuted, ~'~ '~rA
vxsor on ~toher 6, '1989. ~is ~te has ~en desi~ated by the ~ as a ~lifi~
t~-e~t obligation purser to the p~visions of ~ction 265 of Inte~l Revenue
C~ of 1986, ~ ~nd~.
The faith and credit of such Town of Southold are hereby
irrevocably pled~,ed for the punctual payment of the principal of and interest on this Note according to /ts terms.
It is hereby certified and recited that all conditions, acts and th/n~s required by the Constituiion ami ztatutes of the
State of New York to exist, to h~ve happened and to have been performed precedeat to and in the issuance of this Note, exist,
have happ~ecl a~d I~ve ~een performcd~ and that this Note, together with all other indebtedne&s of such TOwn of
Southold is within every/tcht ~nd other limit presdribed by the Co~tsfi~tution ~md laws of such Stat~
IH WITNESS WHEREOF, the TOwn of Southo!d
has caused this Note to be s~Ened by its
Town Clerk '
Supervisor
, and its corporat~ seal to be hereunto a/fix~*i and attested by its
and this Note to he dated as of the 6th dayof October
19 89.
BY
EXTRACT OF MINUTES
Meeting of the Town Board of the Town of Southold,
in the County of Suffolk,
New York
July 2, 1985
A regular meeting of the Town Board of the Town of
in the County of Suffolk, New York, was held at the
Southold,
Southold,
Town Hall,
New York, on July 2, 1985 at 7:30 o'clock
P.M.
(Prevailing Time).
There were present:
Councilpersons:
Hon. Francis J. Murphy, Supervisor;
and
Joseph L. Townsend, Jr.
Raymond W. Edwards - Town Justice
Paul Stoutenburgh
James A. Schondebare
Jean W. Cochran
There were absent: None.
Also present:
Judith T. Terry,
Town Clerk
Robert W. Tasker,
Town Attorney
Justice Raymond W. Edwards offered the
and moved its adoption:
following resolution
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED JULY 2, 1985, AUTHORIZING THE
PURCHASE OF A USED PAYLOADER, STATING THE
ESTIMATED MAXIMUM COST THEREOF IS $125,000,
APPROPRIATING SAID AMOUNT THEREFOR, AND
AUTHORIZING THE ISSUANCE OF $125,000 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 used payloader. The estimated maximum cost of said
specific object or purpose, including preliminary costs and costs
incidental thereto and the financing thereof, is $125,000 and
said amount is hereby appropriated therefor. The plan of
financing includes the issuance of $125,000 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 $125,000, 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
Section 3. The
determined and declared:
said appropriation.
following additional matters are hereby
(a) The period of probable usefulness of said specific
object or purpose for which said $125,000 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 (15)
years; however, the proposed maturity of said bonds or notes
issued in anticipation of said bonds will not exceed five (5)
years from the original date of issuance of said 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. 5 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 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 previsions 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, in full,
together with a Notice attached in substantially the form
prescribed by §81.00 of the Law in "THE LONG ISLAND
TRAVELER-MATTITUCK WATCHY~kN," a newspaper published in Southold,
New York, and in "THE SUFFOLK TIMES," a newspaper published in
Greenport, 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
Councilman James A. Sch°ndae~r%uly put to a vote on roll call, which
resulted as follows:
AYES: Supervisor Murphy, Councilman Townsend, Justice
Edwards, Councilman Stoutenburgh, Councilman Schondebare, Councilwoman
Cochran.
NOES: None.
The resolution was declared adopted.
General - No Veto
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
July 2, 1985, 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 2nd day of
July, 1985.
(SEAL)
Town Clerk
JUDITH ¥. TERRY
Town Hall, 53095 Main Road
P.O. Box 728
Southold, New York 11971
TELEPHONE
~516) 765-1801
OFFICE OF THE ToWN CLERK TOWN OF SOUTHOLD
PLEASE PUBLISH THE ATTACHED NOTICE AND BOND RESOLUTION IN ITS ENTIRETY
......... ~ t3; A~LICATION TO
ON JULY 11, 1985, AND I-URW/~KtJ /n[x~ t i
JUDITH T, TERRY, TOWN CLERK, TOWN HALL, MAIN ROAD, SOUTHOLD, NEW YORK
11971,
Copies to the following:
The Suffolk Times
The Long Island Traveler-Watchman
Town Board Members
Town Clerkts Bulletin Board
Superintendent of Highways Dean
NOTICE
The resolution published herewith has been adopted on
the 2nd day of July, 1985, 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 JULY 2, 1985, AUTHORIZING THE
PURCHASE OF A USED PAYLOADER, STATING THE
ESTIMATED MAXIMUM COST THEREOF IS $125,000,
APPROPRIATING SAID AMOUNT THEREFOR, AND
AUTHORIZING THE ISSUANCE OF $125,000 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 used payloader. The estimated maximum cost of said
specific object or purpose, including preliminary costs and costs
incidental thereto and the financing thereof, is $125,000 and
said amount is hereby appropriated therefor. The plan of
financing includes the issuance of $125,000 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 $125,000, 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 $125,000 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 (15)
years; however, the proposed maturity of said bonds or notes
issued in anticipation of said bonds will not exceed five (5)
years from the original date of issuance of said 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. 5 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 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 con~esting 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, in full,
together with a Notice attached in substantially the form
prescribed by §81.00 of the Law in "THE LONG ISLAND
TRAVELER-MATTITUCK WATCH~4AN," a newspaper published in Southold,
New York, and in "THE SUFFOLK TIMES," a newspaper published in
Greenport, New York, each having a general circulation in the
Town and hereby designated the official newspapers of said Town
for such publication.
NOTICE
· The resolution published
herewith has been adopted on
the 2nd day of July, 1985, and
the validity of the obligations
authorized by such resolution
mtty be hereafter contested
only if such obligution~ were
authorized for an object or
purpose for which the TOWN
OF SOUTHOLD in the Court-
ty 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 publics-
tion of this Notice were not
substantially cmnplind with,
and an action, suit or proceed-
lng 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 constitu-
tion.
JUDITH T. TERRY
TOWN CLERK
BOND 'RESOLUTION OF THE
TOWN OF SOUTHOLD, NEW
YORK, ADOPTED JULY 2,
1985, AUTHORIZING THE
PURCHASE oF A USED.PAY-
LOADER, STATING THE ES-
TIMATED MAXIMUM COST
THEREOF IS $125,000, AP-
PROPRIATING SAID AM-
OUNT THEREFOR, AND
AUTHORIZING THE ISSU-
ANCE OF $125.000 SERIAL
BONDS OF SAID TOWN TO
FINANCE SAID APPROPRI-
ATION,
THE TOWN BOARD OF
THE TOWN OF SOUTHOLD.
IN THE COUNTY OF SUF-
FOLK. NEW YORK, HEREBY
RESOLVES (by the favorable
vote of not less than two-
thirds of all the members of
said Town Board) AS FOL-
LOWS:
Section 1. The Town of
Soutbeld, in thc County of
Suffolk, New York (herein call-
ed "Town"), is hereby author-
ized to purchase a used pay-
loader. The estimated maxi-
mum cost of said specific
object or purpose, including
preliminary costs and costs
incidental thereto and the fin-
ancing thereof, is $125,000
and said amount is hereby
appropriated therefor. The
plan of financing includes the
issuance of $125,000 serial
bonds of the Town to finance
said appropriatlon, and thc
levy and collection of taxes on
all the taxable real property in
thc Town to pay the principal
of said bonds and the interest
thereon as the same shall
become due and payable.
Section 2. Serial bonds of
the Town in the principal
amount of $12.5,000, are here-
by authorized to be issued pur-
suant to the provisions of the
Local Finance Law, constitut-
ing Chapter 33-a of the Consol-
idated Laws of the State of
New York (herein called
"Law") to finance said appro-
priation.
Section 3. The following ad-
ditional matters are hereby
determined and declared:
(a) The period of probable
usefulness of said specific ob-
ject or purpose for which said
$125,000 serial bonds author-
ized pursuant to this resolution
are to be issued, within the
limitations of Section 11.00 a.
28 of the Law, is fifteen (15)
years; however, the proposed
.maturity of said bonds or notes
Issued in antieipatinn of said
bonds will not exceed five (S)
years from the original date of
issuance of said 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 reso-
lution or any bond anticipation
notes issued in anticipation
thereof in aecerdance with
Section 107.00 d. S of the Law.
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 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
successively, commencing on the
Sworn to before me this ........... ./'. ........ day of
Notary Public
BARBARA FORBES
Not~,y Public, State of New York
No. 4806846
Qualified in Suffolk County
Commt~ion Expires Mzxeh BO, 19 ~&/
NEW YORK. HEREBY RE-
SOLVES (b ~ favorable vote
of not less tr. two-thirds of all
the members of said Town Board)
AS FOLLOWS:
Section 1. The Town of South-
old, in the County of Suffolk,
New York (herein called
'Town"), is hereby authorized to
purchase a used payloader. The
estimated maximum cost of said
~pecific object or purpose, inclnd-
lng preliminary costs and costs
incidental thereto and the
financing thereof, is $125,000
and said amount is hereby ap-
propriated therefor. The plan of
financing includes the issuance
of $125,000 serial bends 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 bends and the
interest thereon as the same
shall become due and payable.
Section 2. Serial bends of.ihe
Town in the principal amom{t of
$125,000, am hereby authorized
WSlOnS of the Local Finance Law,
Consolidated Laws of the State
of New York (herein called
Section 3. The following addi-
mined and declared:
fulness of said specific object or
quired by the Law to be provided
by this resolution or any bond
recital of validity as prescribed
The faith and credit of the Town
are hereby irrevocably pledged to
the punctual payment of the
principal of and interest on said
bends and any notes issued in
anticipation of the sale of said
bonds and provision shah be
made annually in the budget of
the Town by appropriation for {a)
the amortization and redemption
of the bends 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 provi-
sions of this resolution and of the
Law and pursuant to the provi-
slons of Soction 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 re-
lative to authorizing bend antici-
pation notes and prescribing the
terms, form and contente and as
to the sale and issuance of the
bends herein authorized and of
any bond anticipation notes is-
sued in anticipation of said
bends, and the renewals of said
notes, are hereby delegated to
the Supervisor, the chieffi~cal of-
ricer of the Town.
Section 6. The validity of the
bends authorized by this resolu-
tion and of any notes issued in
anticipation of the sale of said
bends, may be contested only if:
ia)such obligations are au-
tborized for an object or
purpose for which the Town
is not authorized to expend
(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 com-
menced within twenty days a/~er
the date of such publication, or
(c}such obligations are au-
thorized in violation of the
provisions of the constitu-
Section 7. This bond ~sointion
shall take effect immediately,
and the Town Clerk of the Town,
is hereby authorized and directed
to publish the foregoing resolu-
tion, in full, together with a
Notice attached in substantially
the form prescribed by §81.00 of
the Law in "THE LONG IS-
LAND TRAVELER-MATT[.
TUCK WATCHMAN," a news-
paper published in Southold,
New York, and in "THE SUF-
FOLK TIMES," a newspaper
published in Greenport, New
York, each having a general cir-
culation in the Town and hereby
designated the official newspap-
ers of said town for such publica-
tion.
ITJyl 1~4953
· Groonport, In
· that ha/she is
dES, a Weakly
t, in tho Town
; State of New
the annexed is
/ published in
k for one
~n tha 11
~5
Clark
vl. ABATE
State ol New York
dy No. 4748183
M~rch 30. 19--~ ~