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HomeMy WebLinkAboutAg Development RightsUNITED STATES OF AMERICA STATE OF NEW YORK COUNTY CF SUFFOLK TOWN OF SOUTNOLD $ 43,750.00 CAPITAL NOTE FOR ACQUISITION OF LAND 1985 The Town of Southold, in the County of Suffolk, a municipal corporation of the L~tate ot New York. hereby acknowleages itsell- ~nQeo[e~ aha ~or va~ue received promises to pay to the bearer of this Note, or if it be registered, to the registered holder, the sum of Forty Three Thousand Seven Hundred and Fifty- - ..................... Dollars ($ 43,750.00 ) on the 3rd day of October , 198 6, together with interest thereon from the date hereof at the rate of Five and 33/100 ............... per centum (5.33%) 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 North Fork Bank & Trust Co. 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 ttae 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 $43,750.00. 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 and capital note resolution adopted by the Town Board on October 4, 1983, authorizing the issuance of $1,662,500 serial bonds and $87,500 capital notes for the acquisition of certain development rights in prime agricultural lands in and for said Town, and the Certificate of Determination executed by the Supervisor on October 5, 1984. The faith and credit of such Town of Southold is hereby irrevocably ple~lged for the punctual payment of the principal of and interest on said Note according to its terms. It is hereby certified and recited that all conditiqns, acts, and things required by the Constitution and statutes of the State of New York, to exist, to have happened and to have been performed precedent to and in the issuance of this Note, exist, have happened and have been performed, and this note, together with all other indebtedness of such Town of Southold is within every debt and other limit prescribed by the Constitution and Laws of such State. IN WITNESS WHEREOF, the Town of Southold has caused this Note to be signed by its Supervisor, and its corporate seal to be hereunto affixed and attested by its Town Clerk and this Not~ to be datei~l §s of the 4th day of October ~ f~1985' ~'-A t-O TOWN O.F) Oepu~ Town Clerk/ UNITEDSTATESOF AMERICA STATE OF NEW YORK C©UNTY OF SUFFOLK TOWN OF SOUTHOLD 87,500 CAPITAL NOTE FOR ACQUISITION OF LAND-1984 ~ : Th Town oX Southold, in the County of Suffolk, a municipal i~6r~0ration Of the ~i-' ~ jl ii i i~ ~i State of New York, hereby acknowledges ib~elf indebted and for value received promises to pay to the bearel~ of this Note, or if it be registered, to the registered holder, the sum of , :,j-Eighty-Seven Thousand Five Hundred .......... -Dolhrs ($ 8V, $00 .... 2__-.) on t e 4th day of October , 1985, tOgether with interest thereon from the d~te hereof a~'the ra~e of i-,-Seven and Twenty-Two Hui3dredths---percentum(7 22%) peranuum, payable nt maturity {':~{ B~thpr~n~pa~fa~din~erest~nthisKotewi~hopald~n~awf~m~eyoftheUult~d-st~tes~fAmerico~ot ' . · i THE 'NORTHFOiRK BANK &=TRUST COMPANYj Hart±tuck[ New Y0~]~. 7': : ii: ~ tbe request o{ the holder, the Town Clerk .... shall Convert this Note into i a re4,datOred Note by re6~tering it in the name of the holder in the books of the Town kept in the 0fflc~ : et Such ~Town Clerk i aaa endorsing a certificate of SUch registr~tion hereon, after Which both ~,riUe~eal of~a~..d_ .i~.t.ere~_~ ?.rt..this ?otc sh~tl..b~, pa~. hie only to the registered holder, his legal representatives, successors ~raus ere~, xn,s z~o~e ~nau men ue trau~erauze dray npon presentation to such Town Clerk NbeO~eat~Lth~e n~a~e, o~..the .t. ransfe?.e in his .hooks Im.d shall endorse a certificate of aach registration horeom Such transfer shall -~ ~!eo, a~..a m.~nea, ny t~e .,~.g~stered holaer, or ~ legal represe~atives, and it shall be duly acknowledged or proved, or in ~ a~mce..rna.uve..mc.sit, not. ute thereto shall be certified as to its genuineness by an officer of a bank or trust company located au~aor~zen ~o ad ~asmees in this State. · = J:~ This~ 'Note is the only Note of an authorized issue, the princi~a! '?amount of which is $87,500. I~ws .T~.. N_~e.h .l?.u. ed R_ursuaat to the provisions of she Local Finance Law, cousUtuUng Ch~ptor ~a o! the Consolidated ~,~ ot~ue~ta~ot~xork, the bond and capital note resolution adopted by i the Town Board on october 4, 1983, authorizing the issuance of ~ $1,662,500 serial bonds and $87,500 capital notes for the ~.II ~acquisikion of certain developmental rights in prime agricultural .~~!ands in and for said Town, and the Certificate of Determination ~e h~by ,.i axecuted by the Supervisor on October 5, 1984. :,:~ >,Tbefalth~nd~editofonch Town of Southold :irreVocably pl~li~ed for the punctual payment of the principal 0t and interest on ~s Note ~eo~g to RS t~ ~ ' ~ :..;. I} ~ ~o~ ce~ ~d ~ ~t ~ ~n~ ~s ~d ~ ~ui~ by the ~on ~d ~tut~ of ~e ~ o~e or ~ xorz ~ ~ ~ ~ve happ~ ~d to have ~ pe~o~ed p~t ~ ~d ~ tM ~u~co of ~ ~ot~ ~ ,~ have happ~ed ~d have b~ ~rfo~ ~d ~t ~ Not~ ~ther wi~ ali o~er ~debt~n~ of su~ Town ~"~'i:i/}NiWITNESS WHEREOF, the Town of Southold ' has eaumeal this Note to be signed b~ Rs Supervisor , ~ , , sad its Corporate seal to be hereuntO affixed and attested by its ~0'~i~ Clerk aaa this Note to be dated as o! the 5th~__~y of Octet!' ,/ : TOWN O ~ ,t~U~ '~wn Clerk / ~ "~~ . State. ~ 84.