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HomeMy WebLinkAboutLandfill Equipment & BuildingTHE SUFFOLK COUNTY NATIONAL BANK 6 WEST SECOND STREET * P.O. BOX 269 * RIVERHEAD, N.Y. 11901 * (516) 727-2700 ARLYNE MORGENSTERN ASSISTANT COMPTROLLER November 4, Mr. Francis Murphy Supervisor Town of Southold Town Hall Main Road Southold, New York 11971 Dear Mr. Murphy: Enclosed please find the following cancelled notes: $120,000. Town of Southold, N.Y. 4.90% due 10/28/88 $ 32,000. Town of Southold, N.Y. 4.90% due 10/28/88 It was a pleasure to have accomodated the Town of Southold with this borrowing. Very tru~ ~tan~ Compt~ler : km enc. R-4 $120,000.00 UNITED STATES OF A~4ERICA STATE OF NEW YORK COUNTY OF SUFFOLK TOWN OF SOUTHOLD The Town of Sou~ ~~ ,ld~h~ of Suffolk, a municipal corporation of the State of New York~ hereby acknowledges itself indebted and for val~e~~i~ to pay to the bearer of this Note, or if it be ~%~0~ the registered holder, the sum of One Hundred Twenty Thousand 00.~1~00 ................ ($120,000.00)--Dolla~rs on the 30th day of October, 198~, together with interest thereon from the date hereof at the rate of Four 90/100the per centum (4.90%) per annum payable at maturity. Both principal of and interest of this Note will be paid in lawful money of the United States of America at the Suffolk County National Bank, Riverhead, New York. At the request of the holder, the Town Clerk shall convert this Note into a registered Note by registering in the name of the holder in the books of the Town kept in the office of such Town Clerk and endorsing a certificate of such registration hereon, after which both principal of and interest on this Note shall be payable only to the registered holder, his legal representatives, successors or transferees. This Note shall then be transferable only upon presentation to such Town Clerk with a written transfer of title and such Town Clerk shall thereupon register this Note in the~e~ the transferee in her books and shall endorse a cer~m~c~~c~gistration hereon. Such transfer shall be d~r~i~ the registered holder, or his legal represent~ves, and it ~ be duly acknowledged or proved, or in the a~rn~.~88~ature thereto shall be certified as to its genui~ss by an officer of a bank or trust company located and~~N~siness in this State. This Note is the only note of ~authorized issue, the principal amount o~which is $120,000.00. This Note is issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York, the bond resolution adopted by the Town Board of the Town of Southold on August 17, 1983 and amended September 27, 1983, authorizing the issuance of $614,500.00 serial bonds for the improvement of the Town Landfill Site, and the Certificate of Determination executed by the Supervisor on October 31, 1983. The faith and credit of such Town of Southold is hereby irrevocably pledged for the punctual payment of the principal of and interest on said Note according to its terms. It is hereby certified ~re~e~that all conditions, acts, and things requi~~t~ion and statutes of the State of New York, to e~t,~%~ hav~-h~ned and to have been performed precedent to ~d in the issu~ of this Note, exist, have happened and have~en ~}~c~q~,~ this note, together with all other indebtedness o~ suc~h_Tow_n Df Southold is within every debt and other li~~"~he Constitution and Laws of such State. IN WITNESS WHEREOF, the Town of Southold has caused this Note to be signed by its Supervisor, and its corporate seal to be hereunto affixed and attested by its Town Clerk and this Note to be dated as of the 30th day of October, 1987. TO T '~Town Clerk ~- % R-4 $120,000.00 UNITED STATES OF AMERICA STATE OF NEW YORK COUNTY OF SUFFOLK TOWN OF SOUTHOLD BOND ANTICIPATION NOTE FOR LANDFILL EQUIPMENT AND BUILDING - 1986 The Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York, hereby acknowledges 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 Twenty Thousand 00/100 ................ ($120,000.00)--Dollars on the~th day of October, 19~, together with interest thereon from the date hereof at the rate of Four 90/100ths per centum (4.90%) per annum payable at maturity. Both principal of and interest of this Note will be paid in lawful money of the United States of A~erica at the Suffolk County National Bank, Riverhead, New York. At the request of the holder, the Town Clerk shall convert this Note into a registered Note by registering in the name of the holder in the books of the Town kept in the office of such Town Clerk and endorsing a certificate of such registration hereon, after which both principal of and interest on this Note shall be payable only to the registered holder, his legal representatives, successors or transferees. This Note shall then be transferable only upon presentation to such Town Clerk with a written transfer of title and such Town Clerk shall thereupon register this Note in the name of the transferee in her books and shall endorse a certificate of such registration hereon. Such transfer shall be dated, a~d signed by the registered holder, or his legal representatives, and it shall be duly acknowledged or proved, or in the alternative the signature thereto shall be certified as to its genuineness by an officer of a bank or trust company located and authorized to do business in this State. This Note is the only note of an authorized issue, the principal amount of which is $120,000.00. This Note is issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York, the bond resolution adopted by the Town Board of the Town of Southold on August 17, 1983 and amended September 27, 1983, authorizing the issuance of $614,500.00 serial bonds for the improvement of the Town Landfill Site, and the Certificate of Determination executed by the Supervisor on October 31, 1983. The faith and credit of such Town of Southold is hereby irrevocably pledged for the punctual payment of the principal of and interest on said 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 State of New York, to exist, to have happened and to have been performed precedent to and in the issuance of this Note, exist, have happened and have been performed, and this note, together with all other indebtedness of such Town of Southold is within every debt and other limit prescribed by the Constitution and Laws of such State. IN WITNESS WHEREOF, the Town of Southold has caused this Note to be signed by its Supervisor, and its corporate seal to be hereunto affixed and attested by its Town Clerk and this Note to be dated as of the 30th day of October, 1987. TOWN~_ ATTEST: R-3 UNITED STATES OF AMERICA STATE OF NEW YORK COUNTY CF SUFFOLK TOWN OF SOUTHOLD $240,000.00 BOND ANTICIPATION NOTE FOR LANDFILL EQUIPMENT AND BUILDING - 1986 The Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York, hereby acknowledges itself indebted and for value received promises to pay to the bearer of this Note, or if it be registered, to the registered holder, the sum of Two Hundred Forty Thousand ................................ ............................................. Dollars ($ 240,000.00 ) on the 30th day of October , 1987, together with interest thereon from the date hereof at the rate of Four and 24/100ths per centum (4.24%) per annum, payable at maturity. Both principal of and interest on this Note will be oaid in lawful money of the United States of America at Chemical Bank, Southold, New York. At the request of the holder, the Town Clerk Shall convert this Note into a registered Note by resgistering in 'the name of the holder in the books of the Town kept in the office of such Town Clerk and endorsing a certificate of such registration hereon, after which both principal of and interest on this Note shall be payable only to the registered holder, his legal representatives, successors or transferees. This Note shall then be transferable only upon presentation to such Town Clerk with a written transfer of title and such Town Clerk shall thereupon register this Note in the name of the transferee in his books and shall endorse a certificate of such registration hereon. Such transfer shall be dated, and signed by the registered holder, or his legal representatives, and it shall be duly acknowledged or proved, or in the alternative the signature thereto shall be certified as to its genuineness by an officer of a bank or trust company located and authorized to do business in this State. This Note is theonly note of an authorized issue, the principal amount of which is $240,000.00. This note is issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York, the bond resolution adopted by the Town'Board on August 17, 1983 and amended September 27, 1983, authorizing the issuance of $6~4,500.00 serial bonds for the improvement of the Town Landfill Site, and the Certificate of Determination executed by the Supervisor on October 31, 1983. The faith and credit of such Town of Southold is hereby irrevocably pledged for the punctual payment of the principal of and interest on said Note according to its terms. It is hereby certified and recited that all conditiqns, 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 precedent to and in the issuance of this Note, exist, have happened and have been performed, and this note, together with all other indebtedness of such Town of Southold is within every debt and other limit prescribed by the Constitution and Laws of such State. ATTEST: Town Clerk IN WITNESS WHEREOF, the Town of Southold has caused this Note to be signed by its Supervisor, and its corporate seal to be hereunto affixed and attested by its Town Clerk and this Note to be dated as of the31St, day of October, 1986. CERTIFICATE OF DETERMINATION BY THE SUPERVISOR RELATIVE TO THE AUTHORIZATION, SALE AND ISSUANCE, FORM AND CONTENTS OF A $2q0,000.00 BOND ANTICIPATION NOTE FOR LANDFILL EQUIPMENT AND BULDINC-1986, OF THE TOWN OF SOUTHOLD, NEW YORK. I, FRANCIS J. MURPHY, Supervisor of the Town of Southold, in the County of Suffolk and State of New Yon~k (herein called "Town") HEREBY CERTIFY that pursuant to the powers and duties delegated to me, the Chief Fiscal Officer of the Town by the Town Board pursuant to theresolution adopted as set forth below, and subject to the limitations prescribed in said resolution, I have made the following determinations: 1. A Bond Anticipation Note of the Town in the principal amount of $2q0,000.00 shall be issued to renew, In part, the $600,000.00 Bond Anticipation Note for Landfill Equipment and Building and heretofore issued in anticipation of the sale of serial bonds authorized pursuant to the resolution entitled: "Bond Resolution of the Town of Southold, New York, adopted August 17, 1983, and amended September 27, 1983, authorizing as part of the original improvement of the Town landfill site in Southold, in said Town, (A) acquisition of a bulldozer, two used front end payloaders and trash compaction equipment at an estimated total cost of $362,500, (B) trade-in on'the D-6 bulldozer of the Town and application of the $5,500 trade-in value toward the cost of such payloaders; and (C) purchase and construc- tion of a steel building to be used for recycling and reception of solid waste at an estimated maximum cost of $257,500; appropriating said amounts therefor, respectively, less said trade-in value, stating the estimated total cost thereof, inCluding said trade-in value, is $620,000, authorizing the issuance of serial bonds in the aggregate principal amount of $614,500 to finance the balance of said appropriations, stating that the Town expects to receive federal funds in the aggregate principal amount of $84,525 and authorizing the expenditure of such funds towards the costs of such machinery and equipment and the construction of such building or the payment of any bonds or notes issued therefor or to be budgeted as an offset to the taxes to pay the principal and/or interest on such bonds or notes," duly adopted by the Town Board on the d~te therein referred to, the redemption of said $600.000.00 Bond Anticipation Note having been heretofore provided to the extent of $2,'~0~000.~0 from a source other than the proceeds of said bonds. 2. The terms for and details of said renewal Note shall be as follows: Amount and Title: $2u,0,000.00 Bond Anticipation Note for Landfill Equipment & Building - 1986 Dated: October 31, 1986 Matures: October 30x 1987 No. R-3 Denomination $2#0,000.00 Interest Rate: q,2~,% per annum Payment of principal and interest: Chemical Bank Southold, New ·York Form of Note: Substantially in accordance with form prescribed by Schedule B,2 of the Local Finance Law of the State of New York. Said Note is a renewal Note. Said Note is issued in anticipation of bonds for nonassessable improvement. The original Note, of which this Note ia a renewal, was issued on November 1, 1983. 6. The amount of bond anticipation notes heretofore issued in anticipation of the said $600,000.00 is $600,000.00, $240,000,00 of which is outstanding. 7. Pursuant to said powers and duties delegated to me, I DO HEREBY AWARD AND SELL said Note to Chemical Bank, Southold,-New York New York, for the purchase of $240,000.00 , plus accrued interest, if any, from the date of said Note to the date of payment of the purchase price, and I FURTH'ER DETERMINE that said Note so awarded shall bear interest at the rate of Four and 24/100 per centum4.24 % per annum, payable at maturity· 8. Said Note herein authorized shall be executed in the name of the Town by its Supervisor and the corporate seal of the Town shall be affixed thereto and attested by its Town Clerk. I HEREBY FURTHER CERTIFY that every power delegated to me to issue and sell the Note hereinabove described is in full force and effect and has not been modified, amended, or revoked. IN WITNESS WHEREOF, I have hereunto Set my hand this 31st day of October, -2- CLERK'S CERTIFICATE I, JUDITH T. TERRY, Town Clerk of the Town of Southold, in the County of Suffolk, State of New York, HEREBY CERTIFY that I have compared the toregoing copy complete copy Town Clerk on uf Certificate of the bupervisor and the same is a true and of the Certificate filed with said Town Board in my office as October 81, 1986. 1 FURTHER CERTIFY that no resolution electing to reassume any of the powers or duties mentioned in said Certificate and delegated to the Supervisor by the resolution cited in said Certificate has been adopted by said Town Board. IN WITNESS WHEREOF, I corporate seal of said Town this31st have hereunto set my hand and affixed the day of October· , 198 6 Judith T. Terry (SEAL) STATE Of NEW YORK) coUNTY OF SUFFOLK) SS, JUDITH T. TERRY, being duly sworn upon her oath, deposes and says: (1) I am the duty appointed, qualified and acting Town Clerk of the Town of Southold, in the County of Suffolk, New York (herein and in Schedule A called "Issuer"): (2) That with respect to the contract o[' sale.of the followina described obligation of the issuer to the Chemical Bank, 'Southold, New York (in Schedule A called "Purchaser"), I have made a careful inquiry of each officer and employee of the Issuer having the power or duty to (a) negotiate, prepare, authorize or approve the contract or authorize or approve payment thereunder,' (b) audit the bills or claims under the contract, or (c) appoint an officer or employee who has any of the powers or duties set forth above, as to whether or not such officer or employee has an interest (as defined pursuant to Article 18 of the General Municipal Law) in such contract: Amount and Title; $240,000.00 Bond Anticipation Note 1986 Landfill Equipment and Building Dated: October .31, 19R¢; Matures: October 30, 1987 No. R- 3 Denomination: $240,000.00 Interest Rate: 4.24% per annum (3) That upon information and belief, as a result of such inquiry, no such officer or employee has any such interest in said contract, unless otherwise noted in Schedule A annexed hereto and by this reference made a part hereof. Subscribed and sworn to before me this31st day of October , 1986. JC~di~h T. Terry, Town Cler,k~' -- ~r. Otary Pubic SCHEDULE A 1. , is a stockholder of the Purchaser owning or controlling, directly or indirectly, less than five per centum (5%) of the outstanding stock thereof but no disclosure of such interest by said officer is required pursuant to said Law; 2. , has an interest in the Purchaser solely by reason of employment as an officer or employee thereof, but the remuneration of such employment will not be directly ,. affected as a result of said contract and the duties of such employment do not directly involve the procurement, preparation ~, or performance of any such part of such contract. , has publicly disclosed the nature and extent of such interest in writing to the governing board of the Town. Such written disclosure has been made a part of and set forth in the official record of proceedings of the Town. 1, ROBERT attorney at law ATTORNEY'S CERTIFICATE W. TASKER, HEREBY CERTIFY that I am a licensed of the State of New York having offices at 425 Main Street, Greenport, in said State, and am the duly chosen, qualified and acting Town Attorney of the Town of Southold, in the County of Suffolk, a municipal corporation of said State and herein referred to as the "Issuer", that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of the notes of the Issuer, each payable to bearer and all otherwise described as set forth in Schedule A annexed hereto and by this reference made a part hereof or the levy or collection of any taxes to pay the interest on or principal of said notes or for the levy or collection of said taxes, or relating to said notes or affecting the validity thereof or the 'levy or collection of said taxes, that neither corporate existence or boundaries of the Issuer nor the title of any of the present officers thereof to their' respective offices is being contested, and that no authority or proceedings for the issuance of said notes has or havebeen repealed, revoked or rescinded. WlTNESS WHEREOF, I have hereunto set my hand this 3 1st IN day of Amount and Title: October , 1986. Town Attorney SCHEDULE A $240,000.00 Bond Anticipation Note Landfill Equipment and Building - 1986 Da ted: Matures: Number and Denomination: Interest Rate and Payment Dated: October 31, 1986 October 30, 1987 R-3 $240,000.00 4,24% per annum CLOSING CERTIFICATES Relating to Notes of TOWN OF SOUTHOLD, NEW YORK CERTIFICATES AS TO SIGNATURES, LITIGATION AND DELIVERY AND PAYMENT WE, the undersigned officers of the Town of Southold, in the County of ......... r- .... po~,,or, of the £tctc ,%'ow York and herein referre,4 to as the "Issuer", HEREBY CERTIFY that on the 31st day of October , 1986, we officially signed and properly executed by manual signatures principal amount of notes of the Issuer, each payable to bearer and all otherwise described as set forth in Schedule A annexed hereto and by this reference made a part hereof, and that at the time of such signing and execution and on the date hereof we were and are the duly chosen, qualified and acting officers of the Issuer authorized to execute said notes and holding the respective offices indicated by the official titles set opposite our signatures hereto for terms expiring on the respective dates set opposite such titles. WE FURTHER CERTIFY that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of said notes or the levy or collection of any taxes to pay the interest on or principal of said issuance of said notes or for the levy or collection of said taxes, that neither the corporate existence or boundaries of the Issuer nor the title of any of the present officers thereof to their respective offices is being contested and that no authority or proceedings for the issuance of said notes has or have been repe?led, revoked or rescinded. WE FURTHER CERTIFY that seal which is impressed upon this certificate has been affixed by impression upon each of said notes and is the legally adopted proper and only official corporate seal of the Issuer. AND, I, the undersigned Supervisor of the Issuer, HEREBY FURTHER CERTIFY that on the 31st day of October , 1986, I delivered said notes to the Chemical Bank, Southold,. New York, the purchaser hereof, and that at the time of such delivery of said notes, I received from said purchaser the amount hereinbe]ow stated, in full payment of said notes computed as follows: Price $240,000.00 Interest of said notes accrued to date of delivery Amount received 4.24% $240,000. O0  Supervisor December 31, 1987 Issuer, which appear above, are true and genuine and that I know said officers and know them to hold the respective offices set opposite their several signatures, (Signature) (Title) R 2 $ ~60,000.00 UNITED STATES OF AMERICA STATE OF NEW YORK COUNTY CF SUFFOLK TOWN OF SOUTHOLD BOND ANTICIPATION NOTE FOR LANDFILL EQUIPMENT AND BUILDING 1985 The Town of Souti~old, in the County of Suffolk, a municipal corporation of the State of New York, hereby acknowledges 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 Three Hundred and Sixty Thousand ..... Dollars ($ 360,000.00 ) on the 31st day of October , 198 6, together with interest thereon from the date hereof at the rate of Five and 29/100 per centum (5.29%) per annum, payable at maturity. Both principal of and interest on this Note will be paid in lawful money of the United States of America at The Bank of New York, Greenport, New York. At the request of the holder, the Town Clerk shall convert this Note into a registered Note by resgistering in the name of the holder in the books of Uae Town kept in the office of such Town Clerk and endorsing a certificate of such registration hereon, after which both principal of and interest on this Note shall be payable only to the registered holder, his legal representatives, successors or transferees. This Note shall then be transferable only upon presentation to such Town Clerk with a written transfer of title and such Town Clerk shall thereupon register this Note in the name of the transferee in his books and shall endorse a certificate of such registration hereon. Such transfer shall be dated, and signed by the registered holder, or his legal representatives, and it shall be duly acknowledged or proved, or in the alternative the signature thereto shall be certified as to its genuineness by an officer of a bank or trust company located and authorized to do business in this State. This Note is the only note of an authorized issue, the principal amount of which is $360,000.00 This note is issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York, the bond resolution adopted by the Town Board on August 17, 1983 and amended September 27, 1983, authorizing the issuance of $614,500.00 serial bonds for the improvement of the Town Landfill Site, and the Certificate of Determination executed by the Supervisor on October 31, 1983. The faith and credit of such Town of Southold is hereby irrevocably pledged for the punctual payment of the principal of and interest on said Note according to its terms. It is hereby certified and recited that all conditiqns, 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 precedent to and in the issuance of this Note, exist, have happened and have been performed, and this note, together with all other indebtedness of such Town of Southold is within every debt and other limit prescribed by the Constitution and Laws of such State. IN WITNESS WHEREOF, the Town of Southold has caused this Note to be signed by its Supervisor, and its corporate seal to be hereunto affixed and attested by its Town Clerk and this Note to be dated as of the 1st day of November · 198 5. ~ ~ ................ ATTEST: . ~/~ /" ) Town Clerk LEGAL NOTICE The amended bond resolution published herewith has been adopted on the 27th day of September, 1983, and the validity of the obligations authorized by such bond resolution may be hereafter contested only if such obligations were authorized for an object or purpose for which the Town of Sonthuld, in the County of Suffolk, New York, is not authorized to expend money or if the ~ovisions of law which should ye been complied with as of the date of the 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 previsions of the constitution. JUDITH T. TERRY SOUTHOLD TOWN CLERK BOND RESOLUTION OF THE TOWN OF SOUTH- OLD, NEW YORK, ADOPTED AUGUST 17, 1983, AND AMENDED SEPTF_3fl~ER 27, 1~3, AU- THORIZING, AS A PART OF THE ORIGINAL IM- PROVEMENT OF THE TOWN LANDFILL SITE IN SOUTHOLD, IN SAID TOWN, (A) ACQUISITION OF A BULLr~OZER, TWO usED FRONT END PAY- LOADERS AND TRASH COMPACTION EQUIP- MENT AT AN ESTIMATED TOTAL COST OF (B) TRADE-IN OF THE I)-6 BULLr~OZER OF THE TOWN AND APPLICA- TION OF THE $5,500 TRADE-IN VALUE TO- WARDS THE COST OF SUCH PAYLOADERS: AND (C) PURCHASE AND CONSTRUCTION OF A STEEL BUILDING TO BE USED FOR RECYCLING AND RECEPTION OF SOLID WASTE AT AN ESTIMATED MAXIMUM COST OF S2~7.500: APPBO- PRIATINGSA1D AMOUNTS THEREFOR, RESPEC- TIVELY, LESS SAID TRADE-IN VALUE, STAT- ING THE ESTIMATED TOTAL COST THEREOF, INCLUDING SAID TRADE- IN VALUE, IS $620,000. AU- THORIZING THE ISSU- ANCE OF SERIAL BONDS IN THE AGGREGATE PRINCIPAL AMOUNT OF $614,500 TO FINANCE THE BALANCE OF SAID AP- PROPRIATIONS, STAT- lNG THAT THE TOWN EXPECTS. TO RECEIVE A~__,DERAL FUNDS IN THE AC,~REGRATE PRIN- CIPAL AMOUNT OF $64,525 AND AUTHORIZING THE EXPENDITURE OF SUCH FUNDS TOWARDS THE COSTS OF SuCH MACHIN- ERY AND EQUIPMENT AND THE 'CONSTRUC- TION OF SUCH BUIIX)ING OR THE PAYMENT OF ANY BONDS OR NOTES IS- SUED .THEREFOR OR TO BE BUDGETED AS AN OFFSET TO THE TAXES TO PAY THE PRINCIPAL AND/OR INTEREST ON SUCH BONDS OR NOTES. "Section 1. The Town of Seuthnld (the "Town"), in the County of Suffolk, New York: is ..h. ereb~ authorized, as a part of the ~ improvement of old, in the Town, (A) to acquire (t) a-bulldozer at an estimated maximum cost of $92,500, (ii) a used 4% yard front-end payloader at an estimated maximum cost of $140,000, and a used 1% yard front-end payloader at an estimated maximum cost of $25,000, and (iii) trash com- paction equipment at an estimated maximum cost Of $105,000; (B) to trade in the D- 6 bulldozer presently owned by the Town and apply the trade-in value of $5,500 inwards the cost of such frent- end payloaders; and (C) to purchase and construct on said landfill site, a steel building to be used for re- cycling and reception of solid waste, at an estimated max- imum cost of $257,0O0, and the said amounts are hereby ap- propriated therefor, respectively, less said trade-in value. The estimated total cost of all of the items of such specific object or purpose, in- cluding said trade-in value ind preliminary costs and costs incidental thereto and financing thereof, is $620,000. Serial bends in the aggregate principal amount of $614,500 are hereby authorized to be issued pursuant to the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York (the "Law"), to finance the balance of said appropriations after deducting said trade-in value. The Town expects to receive Federal Community Development Funds in the amount of $30,525 and Federal Jobs Bill Funds in the amount of $54,000 and such moneys, when received, are hereby authorized to be expended towards the cost of such payloader and construction of such building respectively, or the payment of the principal and/or interest on said bonds or any notes issued in anticipation of the sale of such bonds or to be budgeted as an offset to the taxes to be levied to pay such principal and/or interest. The ]~lan of financing includes the lseuance of said serial bonds, the expenditure of said Federal Fundsand the levy and collection of taxes on all the taxable real property in the Town to pay the principal on said bonds and the interest thereon or any notes in anticipation of the sale of such bonds as the same shall become due and payable. "Section 2. The following additional matters are hereby declared: (a) The period of probable usefulness of the specific object or purpose for which said $614,500 serial bonds authorized pursuant to Section i hereof are to be issued, within the limitations of Section 11.00 a. 6-a of the Law, is twenty (20) ~,ears, but the maturity of smd bonds shall not exceed five (5) years. (b) Current funds are not required by the Law to be provided as a down payment prior to the issuance of the serial bends herein authorized to be issued, or any bond anticipation notes issued in anticipation of the sale of said bonds, pursuant to the provisions of Section 107.00 d. 4 of theLaw. Section 3. Each of the bonds authorized to be issued pursuant to this resolution, and of any bend anticipation notes issued in anticipation of the sale of said bonds, shall contain the recital of validity prescribed by Section 52.00 of the Law andsaid bonds and any notes issued in anticipation of the sale of said bonds, shall be general obligations of the Town, payable as to beth principal and interest by a 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 provision shall be made annually in the budget of the Town by appropriation for (a) the amortization and redemption of the bonds to mature in such ~mear and (b) the payment of terest to be due and payable in such year. Section 4. 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 bond anticipation notes and of Section 5O.0O and Sections 56.00 to 6O.0O 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 to he issued and of any bond anticipation notes issued in anticipation of the sale of said bonds, or the renewals thereof, are hereby delegated to the Supervisor, the chief fiscal officer of the Town. Section 5. The validity of the bonds authorized pursuant to this resolution, and of any notes issued in anticipation of the sale of said bends, may he contested only if: · (a) such obligations are au- thorized for an object 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 publica- tion of such resolution, are not substantially complied with, and an action, suit or proceeding contesting such validity, is commenced with- in twenty days after the date of such publication, or (c) such obligations are au- thorizedin violation of the provisions of the constitu- tion. Section 7. This resolution shall take effect immediately. IT06-4357. STATE OF NEW YORK ) ) SS.' COUNTY OF SUFFOLK ) JOAN W. GUS~A¥SON of Greenport, in said County, being duly sworn, says that he/she is Principal Clerk of THE SUFFOLK TIMES, a Weekly Newspaper, published at Greenport, in the Town of Southold, County of Suffolk and State of New York, and that the Notice of which the annexed is a printed copy, has been regularly published in said Newspaper once each week for one ('l weeks successively, commencing on the _6th dayof October 19 83 Principal Clark JOAN N. MAG£E NOTARY PUBLIC. STATE OF NEW NO, 52-4505858 rJ(PIRES MARCH ~0, 19 ~j~ Sworn to before me this 6th day~be~ ',- 19 ~,,~.~ The amended bond resolu- tion published herewith has been adopted on the 27th day of September, 1983, and the validity of the obligations authorized by such bond reso- lution may be hereafter con- tested 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 the publi- cation of this notice were not substantially complied with, and an action, suit or proceed- ing 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 consti- tution. JUDITH T. TERRY SOUTHOLD TOWN CLERK 1T-10/6/83(3) BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED AUGUST 17, 1983, AND AMENDED SEPTEMBER 27, 1983. AU- THORIZING, AS A PART OF THE ORIGINAL IMPROVE- MENT OF THE TOWN LAND- FILL SITE IN SOUTHOLD. IN SAID TOWN, (A) ACQUISI- TION OF A BULLDOZER, TWO USED FRONT END PAYLOADERS AND TRASH COMPACTION EQUIPMENT AT AN EST/MATED TOTAL COST OF $362,500; (B) TRADE-IN OF THE D-6 BULLDOZER OF THE TOWN AND APPLICATION OF THE $5,500 TRADE-IN VALUE TO- WARDS THE COST OF SUCH PAYLOADERS: AND (C) PURCHASE A N D CON- STRUCTION OF A STEEL BUILDING TO BE USED FOR RECYCLING AND RECEP- TION OF SOLID WASTE AT AN ESTIMATED MAXIMUM COST OF $257,500: APPRO- PRIATING SAID AMOUNTS THEREFORE, RESPECTIVE- LY, LESS SAID TRADE-IN VALUE, STATING THE ESTI- MATED TOTAL C O S T THEREOF, INCLUDING SAID TRADE-IN VALUE, IS $620, 000. AUTHORIZING THE IS- SUANCE OF SERIAL BONDS IN THE AGGREGATE PRIN- CIPAL AMOUNT OF $614,500 TO FINANCE THE BALANCE OF SAID APPROPRIATIONS, STATING THAT THE TOWN EXPECTS TO RECEIVE FED- ERAL FUNDS IN THE AG- GREGATE PRINCIPAL A- MOUNT OF $84,525 AND · AUTHORIZING THE EX- PENDITURE OF S U C H FUNDS TOWARDS THE COSTS OF SUCH MACHIN- ERY AND EQUIPMENT AND THE CONSTRUCTION OF SUCH BUILDING OR THE PAYMENT OF ANY BONDS OR NOTES ISSUED THERE- FORE OR TO BE BUDGETED AS AN OFFSET TO THE TAXES TO PAY THE PRINCI- PAL AND/OR INTEREST ON SUCH BONDS OR NOTES. "Section 1. The Town of Southold (the "Town"), in the County of Suffolk. New York. is hereby authorized, as a part of the original improvement of the Town landfill site in Southold, in the Town, (A) to acquire (i) a bulldozer at an estimated maximum cost of $92,500, (ii) a used 4V2 yard front-end payloader at an esti- mated maximum cost of $140, 000, and a used 11/2 yard front-end payloader at an esti- mated maximum cost of $25, 000, and (iii) trash com- paction equipment at an esti- mated maximum cost of $105. 000; (B) to trade in the D-6 bulldozer presently owned by the Town and apply the trade-in value of $5.500 to- wards the cost of such front- end pavloaders; :"d lC) to COUNTY OF SUFFG[.,K STATE OF NL%'V YCRK Pe, tricio Wood, being duiy sworn, soys that she is the Editor, of THE LONG ISLAND TRAVELER-WATCHMAN, a pub',lc newspaper printed at Southold, in Suffolk County; and thct the notice of which the annexed is a printed copy, k.os been published in said Long Island Zraveler-Watch~ m.zn or,ce each week for .......................... ! ............. weeks ~,~:':cess~veiy, commencing on the ~ , Sworn to before me this .............. .c.- ................ day of be used for recycling and reception of solid waste, at un estimated maximum cost of $257,000, and the said amounts are hereby appropri- ated therefore, respectively, less said trade-in value. The estimated total cost of all of the Rems of such specific object or purpose, including said trade-in value and pre- liminary costs and costs inci- dental thereto and financing thereof, is $620,000. Serial bonds in the aggregate prin- cipal amount of $614,500 are hereby authorized to be issued pursuant to the Local Finance Law, consituting Chapter 33-8 of the ConsoRd~ted Lawa o~,,. the State of Hew York (the~ "Law"), to finance the bid, ~ ance of said appmpfl~loM ~, after deducting said trmle-in value. The Town expects to receive Federal CommunRy Development Funds in the amount of $30,525 and l~ederal Jobs Hill Funds in the amount of $54,000 and such monies, when received, are hereby authorized to be expended towards the cost of such pay- loader and construction of such building respectively, or the payment of the principal and/or interest on said bonds or any notes issued in antici- pation of the sale of such bonds or to be budgeted as an offset to the taxes to be levied to pay such principal and/or interest. The plan of financing includes the issuance of said serial bonds, the expenditure of said Federal Funds and the levy and collection of taxes on all the taxable real property in the Town to pay the principal on said bonds and the interest thereon or any notes in anti- cipation of the sale of such bonds as the same shall become due and payable. "Section 2. The following additional matters are hereby declared: (a) The period of probable usefulness of the specific object or purpose for which said $614,500 serial bonds authorized pursuant to Section 1. hereof are to be issued, within the limitations of Sec- tion 11.00 a.6-a of the Law, is twenty (20) years, but the maturity of said bonds shall not exceed five (5) years. CO) Cut'refit funds are not required by the Law to be provided as a down payment prior to the issuance of the serial bonds herein authorized to be issued, or any bond anticipation notes issued in anticipation of the sale of said bonds, pursuant to the provi- sions of Section 107.00 d. 4 of the Law. Section 3. F~ch of the bonds authorized to be issued pur- suant to this resolution, and of any bond anticipation notes~ issued in anticipation of the sale of said bonds, shall contain the recital of valididty prescribed by Section 52.00 of the Law and said bonds and any notes issued in anticipa- tion of the sale of said bonds, shall be general obligations of the Town, payable as to both principal and interest by a ~i~dpropecty within fl~ie TOwn, iyfthont limitation of r~te or amount. The faith and credit of the Town are hereby · irrevocably pledged to the punctual payment of the prln- cipal of and interest on said bonds and provision shall be made annually in the budget of the Town by appropriation for (a) the amortization and re- demption of the bonds to mature in such year and Co) the payment of interest to be due and payable in such year. Section 4. Subject to the provisions of this resolution and of the Law, and pursuant to the provisions of Section .~tion 2. Tile following additional matters are hereby declared: (a) The period of probable usefulness of the specific object or purpose for which said S614,$00 serial bonds authorized pursuant to Section 1. hereof are to be issued, within the limitations of Sec- tion Il.00 a.6-a of the Law, is twenty (20) years, but the maturity of said bonds shall not exceed five ($) years. (b) Current funds are not required by the Law to be provided as a down payment prior to the issuance of the serial bonds herein authorized to be issued, or any bond anticipation notes issued in anticipation of the sale of said bonds, pursuant to the provi- sions of Section 107.00 d. 4 of the Law. Section 3. F~ch of the bonds authorized W be issued pur~ suant to this resolution, and ot any bond anticipation notes' issued in anticipation of the sale of said bonds, shall contain the recital of valididty prescribed by Section 52.00 of the Law and said bonds and any notes issued in anticipa- tion of the sale of said bonds, shall be general obligations of the Town, payable as to both pt-hxc'tpal and interest by a ~ne~al t~x upon all the tt~ie re~ property within the Tom, without limitation of rate or amount, The faith and credit of the Town are hereby- irrevocably pledged to the punctual payment of the prin. cipal of and interest on said bonds and provision shall be made annually in the budget of the Town by appropriation for (a) the amortization and re- demption of the bonds to mature in such year and (b) the payment of interest to be due and payable in such year, Section 4. Subject to the provisions of this resolution and of the Law, and pursuant to the provisions of Section 30.00 relative to the authoriza- tion of bond anticipation notes and of Section S0.00 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 to be issued and of any bond anticipation notes issued in anticipation of the sale of said bonds, or the renewals there- of, are hereby delegated to the Supervisor, the chief fiscal officer of the Town. Section 5. The validity of the bonds authorized pursuant to this resolution, and of any notes issued in anticipation of the sale of said bonds, may be contested only if: (a) such obligations are anthotized for aa object or purpote for which t/~ Town ia not authorized to expend mon- ey, or (b) the provisions of law which should be complied with at the date of publication of such resolution, are not sub- stantially 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 obli- gations are authorized in viola- tion of the provisions of the constitution. Section 7. This resolution shall take effect immediately. EXTRACT OF MINUTES Meeting of the Town Board of the Town of Southold, in the County of Suffolk, New York SEPTEMBER 27, 1983 A special meetinG of the Town Board of the Town of Southold, in the County of Suffolk, New York, was held at the office of the Supervisor, 53095 Main Street, Southold, New York, on September 27, 1983 at 2:45 o'clock P.M. (E.D.S.T.). There were present: Hon. William R. Pell III Supervisor; and Councilmen: John J. Nickles Lawrence Murdock, Jr. Francis J. Murphy Joseph L. Townsend, Jr. Raymond W. Edwards There were absent: None Also present: Elizabeth A. Ne¥iH¢~, Deputy Town Clerk Robert W. Tasker, Town Attorney Councilman Francis J. Murphy offered the following resolution and moved its adoption: RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTE~SEPTEMBER 27, 1983, AMENDING THE BOND RESOLUTION OF SAID TOWN ADOPTED AUGUST 17, 1983. Recitals WHEREAS, the Town Board (the "Board") of the Town of Southold (the "Town"), in the County of Suffolk, New York, has heretofore duly authorized (a) the acquisition of a bulldozer, two front-end payloaders and trash compaction equipment; (b) trade-in of the D-6 bulldozer and application of the $8,~000 trade-in value towards the cost of said payloaders; and (c) purchase and construction of a steel building to be used for recycling and reception of solid waste, all for use by and in said Town, at the estimated total cost of $612,000, appropriated $612,000 therefor and authorized the issuance of $612,000 serial bonds to finance the balance of said appropriations after deducting said trade-in value, pursuant to the 1983; and WHEREAS, following Bond Resolution adopted on August 17, receipt of sealed bids for said equipment and said building, it is necessary and in the public interest to reallocate the costs thereof, including the trade-in value of said D-6 bulldozer, and to increase the total appropriation by the amount of $2,500 to $614,500 and to provide for financing same; 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 said Board), AS FOLLOWS: Section 1. The title of the bond resolution adopted August 17, 19~3~ is hereby amended to read as follows: "BOND RESOLUTION OF THE TOWN OF $OUTHOLD, NEW YORK, ADOPTED AUGUST 17, 1983, AND AMENDED SEPTEMBER 27, 1983, AUTHORIZING, AS A PART OF THE ORIGINAL IMPROVEMENT OF THE TOWN LANDFILL SITE I~SOUTHOLD, IN SAID TOWN, (A) ACQUISITION OF A BULLDOZER, TWO USED FRONT END PAYLOADERS AND TRASH COMPACTION EQUIPMENT AT AN ESTIMATED TOTAL COST OF $362,5001; (B) TRADE-IN OF THE D-6 BULLDOZER OF THE TOWN AND APPLICATION OF THE $5,500 TRADE-IN VALUE TOWARDS THE COST OF SUCH PAYLOADERS: AND (C) PURCHASE AND CONSTRUCTION OF A STEEL BUILDING TO BE USED FOR RECYCLING AND RECEPTION OF SOLID WASTE AT AN ESTIMATED MAXIMUM COST OF $257,500; APPROPRIATING SAID AMOUNTS THEREFOR, RESPECTIVELY, LESS SAID TRADE-IN VALUE, STATING THE ESTIMATED TOTAL COST THEREOF, INCLUDING SAID TRADE-IN VALUE, IS $620,000, AUTHORIZING THE ISSUANCE OF SERIAL BONDS IN THE AGGREGATE PRINCIPAL AMOUNT OF $614,500 TO FINANCE THE BALANCE OF SAID APPROPRIATIONS, STATING THAT THE TOWN EXPECTS TO RECEIVE FEDERAL FUNDS IN THE AGGREGATE PRINCIPAL AMOUNT OF $84,525 AND AUTHORIZING THE EXPENDITURE OF SUCH FUNDS TOWARDS THE COSTS OF SUCH MACHINERY AND EQUIPMENT AND THE CONSTRUCTION OF SUCH BUILDING OR THE PAYMENT OF ANY BONDS OR NOTES ISSUED THEREFOR OR TO BE BUDGETED AS AN OFFSET TO THE TAXES TO PAY THE PRINCIPAL AND/OR INTEREST ON SUCH BONDS OR NOTES." Section 2. Section 1 of said Bond Resolution is hereby amended to read as follows: "Section 1. The Town of Southold (the "Town"), in the County of Suffolk, New York, is hereby authorized, as a part of the original improvement of the Town landfill site in Southold, in the Town, (A) to acquire (i) a bulldozer at an estimated maximum cost of $92~00, (ii) a used 4 1/2 yard front-end payloader at an estimated maximum cost front-end payloader at (iii) trash compaction $105,000; (B) to trade the Town and apply the of $140,000, and a used 1 1/2 yard an estimated maximum cost of $25,000, and equipment at an estimated maximum cost of in the D-6 bulldozer presently owned by trade-in value of $5,500 towards the cost of such front-end payloaders; and (C) to purchase and construct on said landfill site, a steel building to be used for recycling and reception of solid waste, at an estimated maximum cost of $257,000, and the said amounts are hereby appropriated therefor, respectively, less said trade-in value. The estimated total cost of all of the items of such specific object or purpose, including said trade-in value and preliminary costs and costs incidental thereto and the financing thereof, is $620,000. Serial bonds in the aggregate principal amount of $614,500 are hereby authorized to be issued pursuant to the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York (the "Law"), to finance the balance of said appropriations after deducting said trade-in value. The Town expects to receive Federal Community Development Funds in the amount of $30,525 and Federal Jobs Bill Funds in the amount of $54,000 and such moneys, when received, are hereby authorized to be expended towards the cost of such payloader and construction of such building respectively, or the payment of the principal and/or interest on said bonds or any notes issued in anticipation of the sale of such bonds or to be budgeted as an offset to the taxes to be levied to pay such principal and/or interest. The plan of financing includes the issuance of said serial bonds, the expenditure of said Federal Funds 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 or any notes in anticipation of the sale of such bonds as the same shall become due and payable." Section3. Section 2 of said Bond Resolution is hereby amended to read as follows: "Section 2. The following additional matters are hereby declared: (a) The period of probable usefulness or purpose for which said $614,500 serial of the specific object bonds authorized pursuant to Section 1 hereof are to be issued, within the limitations of Section 11.00 a. 6-a of the Law, is twenty (20) years, but the maturity of said bonds shall note exceed five (5) years. (b) Current funds are not required by the Law to be provided as a down payment prior to the issuance of the serial bonds herein authorized to be issued, or any bond anticipation notes issued in anticipation of the sale of said bonds, pursuant to the provisions of Section 107.00 d. 4 of the Law." Section 4. The amendments to the Bond Resolution cited hereinabove set forth in this Resolution shall in no way affect the validity of any liabilities incurred, obligations issued or action taken pursuant to said Bond Resolution, and all such liabilities incurred, obligations issued or action taken shall be deemed to have been incurred, issued, or taken pursuant to said Bond Resolution as herein amended. Section 5. The Town Clerk is hereby directed to publish the foregoing bond resolution, as amended, in full, in The Suf~lk Times , a newspaper published in Greenport , New York, and having a general circulation in said Town, which newspaper is hereby designated as the official newspaper of the Town for such publication, together with the Town Clerk's statutory noticg~substanti~l~y in the form as prescribed by Section 81.00 of the Local Finance Law of the State of New York. Section 6. This resolution shall take effect immediately. The adoption of the foregoing call, which resulted as follows: resolution was seconded by duly put to a vote on roll AYES: Justice Edwards, Councilman Townsend, Councilman Murdock, Councilman Nickles, Supervisor Pell. NOES: None. Councilman Murphy, The resolution was declared adopted. General - No Veto CEBTIFICATE JUDITH T. TERRY, Town Clerk of the Town of Southold, in %he County of Suffolk, New York State of annexed extract from %he minutes cf a meeting of the of said Town duly called and held on compared by me with , BEREBY CERTIFY that the foregoing Town Board SeDternber. 27. , 19 83 .., has been original minutes as officially recorded in my office in %he M/nuts 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 %o in said extract. IN WITNESS WHEREOF, ! have hereunto set my hand and affixed %he corporate seal of said Town this 27th day of Sentember ., 19.~3 (Seal) Town Clerk