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HomeMy WebLinkAboutBond Anticiption notes 1964-68BOND ANTICIPATION NOTES FILE NO. 1 1964 - Land acquisition (at New Suffolk) 1965 Pay Loader $36,000. 1966 - Acquisition of Land $63,000. 1967 - Tax Accounting Machine $18,000. 1968 - Land Acquisition $17,500. $44,000. FILE NO. 2 1968 - Land Acquisition $16,000. 1969 - Land Acuqisition $14,000. 1969 - Land ~cquisition $27,000. 1970 - Purchase of Tax Accounting Machine $3,700. 1970 - Land Acquisition $10,500. 1970'- Acquisition of Additional Ferry Boat $115,000. 1970- Bond Anticipation Note $7,400. 1970 - Land Acquisition $13,000. 1971 - Cutchogue-New Suffolk Park District $19,500. 1971 - Road Improvements $6,000. 1971 - Road Improvements $4,800. 1971 - Statutory Installment Bond -Ferry Boat - $95,000. 1972 - Road Improvements $8,400. 1972 - Machinery Serial Bond $34,800. 1972 - Road Improvements $10,500. FILE NO. 3 1973 1973 1974 1975 1975 1976 1976~ 1977 1977 1977 1977 1978 Land Acquisition $24,000. Road Improvements $2,400 Road ~mprovements $1,200. Road Improvements $2,100. Construction of Police Headquarters $24,700. Land Acquisition,Mattitu%k Park District $6,000. Purchase & InstallatiOn of Street Lights $50,000~ Purchase & Installation of Street Lights $40,000. Beach Acquisition(Catherine Herbert) $9,000. Acquisition of Land (Mattituck Park District) Renewal -$6,000. Impr. ovem~nts~for Fishers Island Ferry Dist.(new ferry) S589,000. Mattituck Park District $6,000. EXTRACT OF MINUTES Meeting of the Town Board of the Town of Southold, in the County of Suffolk, New York. February 13, 1968 A regular n~eeting of the Town Board of the Town of Southold, in the County of Suffolk, New York, was held at the Supervisor~s Office, 16 South Street, Greenport, Long Island, New York, in said Town, on February 13, 1968, at ~:30 o'clock A~M. There were present: Hon. l.~ester M Albertson Supervisor, and Councilman louis M. Demareat Councilman Hovmrd C. Valentine Juatlce Hea~ A, Cl~rk Justice Martin Surer There were absent: Justice ~-. Per'r~ Edwards Also present: Albert W, Richmond ,Town Clerk Robert W. Tasker, Town Attorney Councilman Valentine resolution and n~oved its adoption: offered the following RESOLUTION OF TIlE TOWN OF SOUTHOLD, NEW YORK~ ADOPTED FEBRUARY 13, 1968, AUTHORIZING TIlE REDEMPTION, IN PART, OF A $23,000 BOND ANTICIPAT]~DN NOTE FOR LANDACQUISITION-1967, TO THE EXTENT OF $7,000 AND APPROPRIATING SAID AMOUNT THEREFOR. Recital WIIEREAS, the Town of Southold (herein called "Town"), in the County of Suffolk, New York, has heretofore duly authorized, sold and issued its $23,000 Bond Anticipation Note For Land Acquisition-1967, and it is now desirable to redeelr, said Note to the extent of $7,000 from a source other than the proceeds of the bonds in anticipation of which said Note has been is~'~ued; now, therefore, be it RESOLVED BY THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN TIIE COUNTY OF SUFFOLK, NEW YORK, AS FOLLOWS: Section 1. The $23,000 Bond .\nticipationNote For Land Acquisition-1967 of the Town, hcreinabove referred to in the Recital of this resolution, is hereby authorized to be redeen~ed on or before March 1, 1968, to the extent of $7,000 from funds of the Town now avail- able to said purpose, said funds being a source other than the proceeds of the bonds in anticipation of which said Note was issued, and the said amount of $7,000 is hereby appropriated therefor. Section 2. This resolution shall take effect immediately. The adoption of the foregoing resolution was seconded by Justice Surer resulted as follows: AYES: NOES: and duly put to a vote on roll call, which Supervisor Albertsono Councilman Demarest, Councilman Valentine, Justice Clark and Ju-tlce Surer None The resolution was declared unanirrously adopted. * resolution and n'oved its adoption: * offered the following BOND ANTICIPATION NOTE RESOLUTION OF TIlE TOWN OF SOUTIIOLD, NI~W YORK, ADOPTED FEBRUARY 13, 1968, AUTHORIZING THE RENEWAL, IN PART, OF THE $23,000 BONDANTICIPAT}ON NOTE FOR LAND ACQUISITION~f967, BY TIlE ISSUANCE OF A NEW NOTE IN TIlE PRINCIPAL AMOUNT OF $16,000. Recital WHEREAS, the Town of Southold (herein called "Town"),, in the County of Suffolk, New York, has heretofore duly authorized, sold and issued its $23,000 Bond tnt[cipation Note For Land Acquisition-!967 and has duly authorized thc redemption of the Note to the extent of $7,000 and it is now necessary and desirable to provide for the renewals. in part, of said Note by the issuance of a new Note in the principal amount of $I6,000; now, therefore, b8 it RESOLVED BY THE TOWN BOARD OF THE TOWN OF SOUTHOLD~ IN THE COUNTY OF SUFFOLK, NEW YORK, AS FOLLOWS: Section 1. The $23,000 Bond \nticipation Note For Land Acquisition-1967 of the Town dated March 1, 1967, r~aturing March 1, 1968, subject to prior redemption, numbered 2R--1, heretofore duly authorized, sold and issued pursuant to the bond anticipation note resolution duly adopt edbythe Town Board of said Town on March 7, 1967, is hereby at~thorized to be renewed, in part, by the issuance of a new Note in the principal amount of $16,000, said Note dated March 1, '1967, having been heretofore duly authorized to be redeen-.ed from a source other than the proceeds of the bonds in anticipation of Which said Note has been issued, to the extent of $7,000, all as hereinabove referred to in the Recital hereof, pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of thc State of New York (herein called "Law"'). The maturity of said renewal Note herein authorized shall not be later th'an one year from its date, and said Note tray be further renewed pursuant to the provisions of the Law. Section 2. Note shall be as follows: Amount and Title: The terms, form and details of said renewal $16,000 Bond Anticipation Note For [,and Acquisition-1968 Dated: March 1, 1968 Matures: February 28, 1969, No~ 3R- 1 Interest rate: subject to prior reden-~ption Denomination: $16,000 3-1/4% per annum, payable at n,aturity Place of payment of principal and interest: Supervisor' s Office Greenport, New York Form of Note: Substantially in accordance with form prescribed by Schedule B, 2 of the Law. Section 3, Said Note is hereby sold to the SECURITY NATIONAL BANK OF LONG ISLAND, Southold Office, Sou]hold, New York, at thc pr]cc of $]6,000, to ])ear interest at the rate of three and one-quarter per centum (3-.1/4%) per annum, payable at maturity, and the Supervisor is hereby authorized to deliver said Note to said purchaser upon receipt of the purchase price, plus accrued interest, if any, from the date of said 1Note to the date of delivery. Section 4. Said Note shall contain the recital of validity prescribed by ~52.00 o] the Law and shall be a general obligation of the Town, payable as to both 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 Note and provision shall be made in the budget of the Town by appropriation for the redemption of the Note to mature in such year and for the payment of interest to be due in such year. Section 5. Said Note shall be executed in the name of the Town by its Supervisor and the corporate seal of said Town shall be affixed thereto and attested by its Town Clerk, Section 6. This resolution shall take effect immediately. * * by Justice Surer which resulted as follows: The adoption of the foregoing resolution was seconded and duly put to a vote on roll call, AYES:Supe~wisor Albert-on, Counctlmmn Demmrest, Counctlm,,n Ymlentlneo Justice Clmrk rand Justice Surer NOES: None Tile resolution was declared unanin~ously adopted. General - No Veto CERTIFICATE Albert W Richmond , Town Clerk of the Town of Southold, in the County of Suffolk, New York State of annexed extract from the minutes of a meeting of the · HEREBY CERTIFY that the foregoing Town Board duly called and held on compared by me with the of said Town , FEBRUAI~Y 13 , 19 65 ., has been 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 this2~thday of February , 1968 (Seal) Town Clerk EXTRACT OF MINUTES Meeting of the Town Board of the Town of Southold, in the County of Suffolk, New York. March 8, 1966 * * A regular meeting of the Town Board of the Town of Southold, in the County of Suffolk, New York, was held at the Supervisor's Office, 16 South Street, Greenport, Long Island, New York, in said Town, on March 8, 1966, at 3 o'clock P.M. (E.S.T.). There were present: Honorable Lester M. Albertson, Supervisor, and Councilman Louis M. Demarest Councilman Howard C. Valentine Justice Henry A. Clark There were absent: Justice Ralph W. Tuthill Justice E. Perry Edwards Also present: Albert YV. Robert W. . * Richmond, Town Clerk Tasker, Town Attorney * Councilman Demarest offered the following resolution and moved its adoption: RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED MARCH 8, 1966, AUTHORIZING THE REDEMPTION, IN PART, OF A $43,000 BOND ANTICIPATION NOTE FOR LAND ACQUISITION-1965, TO THE EXTENT OF $10,197.44 AND APPROPRIATING SAID AMOUNT THEREFOR. Recital WHEREAS, the Town of Southold, in the County of Suffotk, New York, has heretofore duty authorized, sold and issued its $43,000. Bond Anticipation Note for Land Acquisition-1965, and it is now desirable to redeem said Note to the extent of $10,197.44 from a source other than the proceeds of the bonds in anticipation of which said Note has been issued; now, therefore, be it RESOLVED BY THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, AS FOLLOWS: Section 1. The $43,000. Bond Anticipation Note For ]Land Acquisition-1965 of the Town of Southold, in the County of Suffolk, New York, hereinabove referred to in the Recitat of this resolution, is hereby authorized to be redeemed on or before March 1, 1966, to the extent of $10, 197.44 from funds of said Town now available to said purpose, said funds being a source other than the proceeds of the bonds in anticipation of which said Note was issued, and the said amount of $10, 197.44 is hereby appropriated therefor. Section 2. This resolution shall take effect immediately. * * The adoption of the foregoing resolution was seconded by Councilman Valentine and duly put to a vote on roll call, which resulted as follows: AYES: Supervisor Albertson, Councilman Demarest, Councilman Valentine, Justice Clark NOES: None The resolution was declared unanimously adopted. * * Councilman Demarest offered the following resolution and moved its adoption:- BOND ANTICIPATION NOTE RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED MARCH 8, 1966, AUTHORIZING THE RENEWAL, IN PART, OF THE $43,000. BOND ANTICIPATION NOTE FOR LAND ACQUISITION-1965, BY THE ISSUANCE OF A NEW NOTE IN THE PRINCIPAL AMOUNT OF $32,802. 56. Recital WHEREAS, lhe Town of Southold, in the County of Suffolk, New York, has heretofore duly authorized, sold and issued its $43,000. Bond Anticipation Note For Land Acquisition-1965 and has duly autho- rized the redemption of the Note to the extent of $10, 197.44 and it is now necessary and desirable to provide for the renewal, in part, of said Note by the issuance of a new Note in the principal amount of $32,802. 56; now, therefore, be it RESOLVED BY THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, AS FOLLOWS: Section 1. The $43,000. Bond Anticipation Note For Land Acquisition-1965 of the Town of Southold, in the County of Suffolk, New York, dated March 1, 1965, maturing March 1, 1966, subject to prior redemption, as extended by agreement, numbered 1, heretofore duly authorized, sold and issued pursuant to the bond anticipation note reso- lution duly adopted by the Town Board of said Town on February 23, 1965, is hereby authorized to be renewed, in part, by the issuance of a new bond anticipation note in the principal amount of $32,802. 56; said Note dated March 1, 1965, having been heretofore duly authorized to be redeemed from a source other than the proceeds of the bonds in anticipation of which said Note has been issued, to the extent of $10,197.44, all as hereinabove referred to in the Recital hereof, pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York. The maturity of said renewal Note herein authorized shall not be later than one year from its date, and said Note may be further renewed pursuant to the provisions of the said Local Finance Law. Section 2. The terms, form and details of said renewal Note shall be as follows: Amount and Title: Dated: Matures: $32,802. 56 Bond Anticipation Note For Land Acquisition-1966 March 1, 1966 March 1, 1967, subject to prior redemption Denomination: $32,802.56 2. 55% per annum, payable at maturity No. R-1 Interest rate: Place of payment of principal and interest: Supervisor's Office Greenport, 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. Section 3. Said Note is hereby sold to the NORTH FORK BANK AND TRUST COMPANY, Mattituck, New York, at the price of $32, 802. 56, to bear interest at the rate of two and fifty-five hundredths per centum (2. 55%) per annum, payable at maturity, and the Supervisor is hereby authorized to deliver said Note to said purchaser upon receipt of the purchase price, plus accrued interest, if any, froIn the date of said Note to the date of delivery. Section 4. Said Note shall contain the recital of validity pre- scribed by §52.00 of said Local Finance Law, and shall be a general obligation of the Town of Southold, payable as to both 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 Note and provision shall be made in the budget of the Town by appropriation for the redemption of the Note to mature in such year and for the payment of interest to be due in such year. Section 5. Said Note shall be executed in the name of the Town by its Supervisor and the corporate seal of said Town shall be affixed thereto and attested by its Town Clerk. Section 6. This resolution shall take effect immediately. * * The adoption of the foregoing resolution was seconded by Councilman Valentine and duly put to a vote on roll call, which resulted as follows: AYES: Supervisor Albertson, Councilman Demarest, C, ouncilman Valentine, Justice Clark NOES: None The resolution was declared unanimously adopted. General -- Ho ¥0%0 ]-/]./66 CKRTIFICAT~ ALBERT W. RICHMOND, Town Clerk of the Town of Southold, in the County of Suffolk, New York State of , B~i~BY CERTIi~tha% the foregoing -nnexed ex~ract from ~he minutes of a meeting of the Town Board of said Town duly called and held on March 8 · compared by mo with ~ho original minutes as officially recorded in office in ~he Minute Book of said Town Board ~d i8 a t~o, oo~loto~d correct cop~ thoroof~d of tho whole of said to in said e~raot. 1~ WlT~SS ~OF, I ~vo hero.to set ~ hand ~d affff~xod the oo~orate seal of said Town ~io 8th day of March , 19.66 66 has been (Seal) Town !Clerk C{~ttnty, New York, held at the office of the Supervisor, 16 South Strt-et, Greenport, New York, on the 8th day of March, 1966. WHEREAS, by resolution adopted by this Board on December 8, 1964, this Board authorized the issuance of serial bonds in the amount of $44,000.00 for the acquisition of a bathing beach at New Suffolk in said Town, and further authorized bond anticipation notes robe issued in anticipation of said bond, and WHEREAS, pursuant to said resolution, a bond anticipation note in the amount of $43,000.00, dated March 1, 1965, was sold to The North Fork Bank and Trust Company, which said note matured one year from the date thereof, and WHEREAS, this Board now desires to appropriate the sum of $10,000.00 to be applied against the principal balance due on said note and to renew said note for the sum of $33,000.00, bearing interest at the rate of 2.55%, NOW, THEREFORE, BE IT RESOLVED, that there is hereby appropriated the sum of $10,000.00 for the purpose of paying the principal due on said note to the extent of $10,000.00, and it is further RESOLVED, that the Supervisor be and he hereby is authorized to re new said bond anticipation note for a further per~od of one year in the principal amount of $33,000.00, to bear interest at the rate of 2. 55%, payable at maturity, and that said note be sold to The North Fork Bank and Trust Company, Mattituck, New York, and it is further RESOLVED, that the Town Attorney be and he hereby is authorized to prepare a formal resolution to accomplish the foregoing and that the same be inserted in the minutes of this meeting. EXTRACT OF MINUTES Meeting of the Town Board of the Town of Southold, m the County of Suffolk, New York February 23, 1965 A regular meeting of the Town Board of the Town of Soutbold, in the Count>, of Suffolk, New York, was held at the Super- visor s Office, 16 South Street, Greenport, Lon~ Island, New York, in said Town, on February 23. 1965, at 3:00 o~etock There were present: Hon. Lester M. ~lbertson, Supervisor, and councilman I, ouim M. l;l~aaz'est councilman H~ard C. Valentine Justice ~&lph #. Tuthill Justice He~ry A. Clark There were absent: Justice E. Perry Bdwards Also present: Justice Henry A. clark resolution and moved its adoption: Albert M. Richmond, Town Clerk Robert W. Tasker. Toxvn Attorney offered the following BOND ANTICIPATION NOTE RESOLUTION OF THE TOWN O1,' SOUTHOLD, NEW YORK, ADOPTED FEBRUARY 23, 1965, AUTttORIZING THE ISSUANCE OFA$43,000 NOT[,] fbi ANTICIPATION OF THE SALE OF SERISL BONDS OF THJE TOWN HERETOEORE AUTHORIZED TO BE ISSUED FOR THE ACQUISITION OF CERTAIN LAND AS THE SITE OF A TOWN BEACH AND RECREATION AR~5, AT NEW SUFFOLK, IN SAID TOWN~ RESOLVED BY THE TOWN BOARD OF THE TOWN OF SOUTHOLD~ IN THE COUNTY OF SUFFOLK, NEW YORK, AS FOLLOWS: Section 1, A Bond Anticipation Note of this Town, in the principal amount of $43,00§,is hereby authorized to be issued pursuant to the provisions of tbe Local Finance Law, constituting Chapter 33-a of the Consolidated haws of the State of New Y ,rk, for lhe specific object or purpose as more fully described by the resolution entitled: "Bond Resolution of [he Town of Southold, New York, adopted Decenaber 8, 1964, authorizing the acquisition of certain land at New Suffolk, in said Town, as the site of a Tow~n Beach and Recreation Area, statin~ the estimated nlaxirnum cost t6thcreof' is $44,000, appro- priating said amount therefor arid authori~i~lg the issuat~ce of serial bonds of said Town to finance said appropriation," duly adopted by the Town Board on the date therein referred to. Said Note is to he issued in anticipation of the sale of serial bonds of the T~wn heretofore authorized to be issued b~~ said resolution. No bond anticipation notes are outstanding in anticipation of the sale of said bonds and the Note hereby authorized is not a renewal note. The period of nlaturity of the ~ote hereby authorized shall not exceed one y~ar fron~ date, and said 1Note rllay be renewed pursuant to the provisions of the Local Einance Law. Said .Note is not to be issued ia a~tticipation of bonds for an assessable improveInent. follow Section 2. The terms, form and details of said Note shall[ be as Amount and Title: Dated: March 1, Matures: March 1 No im:e r~:st rate: $43,000 Bond Anticipation Note For Land Acquisition ~ 1965 1965 1966, subject to prior redemption Denomination: $43,000 2.~5% per annum, Place of pa~Tnent aud interest: Supervisor's Office Greenport, New York Form of Note: Section 3 payable at maturity Substantially iu accordance with form prescribed 1,y Schedule B, 2 of the Local Finance Law of tbe State of New York. Said N~,te is hereby sohl to 'NORTH FORK BANK AND TRUST COMPANY, Mattituck, New York, at thc price of par, to bear interest at the rate of two and five hundredths per centum (2.05%) per annum, payable at maturity, and the Supervisor is autho- rized to deliver said Note to said purchaser upon receipt of the principal amount, plus accrued interest, if any, from the date of said .Note ~o the date of delivery~ Section 4. Said Note shall contain tbe recital of validity prescribed by §52.00 of said Local Finance Law, and shall be a general obligation of the Town, payable as to both principal and interest by a general tax upon all the taxable real property within the Town, without limitatinn of rate or amount. The faith and cre. dit of the Town is hereby irrevocably pledged to the punctual payment of the principal of and interest on said Note and provision shall be made in the budget of the Town by appropriation for the redemption of the Note to mature in such year and for the payment of interest to be due in such year. by the Supervisor and the corporate seal of said lhereto and attested by the Town Clerk Section 6. The Councilman Howard C. Valentine Szid ~ote shall be executed in the rame of the Town Town shall be affixed This resolution shall take effect immediately. adoption of the forcgoin~ resolution was seconded by and duly put to a vote on roll call, whic'h resulted as follows: Supervisor Albert,ton Councllm&n Dom&rest AYES: NOES: None Councilman Valentine Justice Clark Justice Tuthlll The resoiution was declared unanimously adopted. General- Nc Veto CERTIFICATE ALBERT M. RICHMOND, Town Clerk of the Tow~ of ~C~uthold, in the County of Suffolk, New York , HEREBY CERTIFY that the foregoing State of ~nnexed extract from the minutes of a meeting of the Town Board Town ........ of said~ , duly called and held on February 2S , 1965 , has been compared by me ~ith the original minutes as officially recorded in my .-~ Town Board office in the ~inute Book of ~ ......... and is a trl~e~ complete and correct copy thereof and of the whole of said original minutes so far as the same relate %o the subject matters referred to in said extract. IN wITNESS ~OF, I have hereunto set my har~d and affi;Eed corporate seal of said Town (Seal) Town Clerk EXTRACT OF MINUTES Meeting of the Town Board of the Town of Southold, in t~e County of Suffolk, New York. August 10, 1965 * A regular meeting of the Town Board of the Town of Southold, in the County of Suffolk, New York, was held at the Supervisor~s Office, York, in said T~v n, (D.S.T~). 16 SoUth Street, Greenport, Long Island, New on August 10, 1965, at 3 o'clock _~_p .M~ There were present: Hono Lester M. Alb ertson, Supervisor, and Councilman Louis M. Demarest Councilman Howard C. Valentine Justice of the Peace Henry A. Clark Justice of the Peace Ralph Wo Tuthill There were absent; Also present: Justice ~. Perry Edwards Albert W. Richn~ond, Robert W. Tasker, * Town Clerk Town Attorney * Councilman Louis M. Demarest offered the following resolution and moved its adoption: Section 5. Said Note shall be executed in the name of the Town by the Supervisor and the corporate seal of said Town shall be affixed thereto and attested by its Town Clerk. Section 8. This resolution shall take effect immediately. The adoption of the foregoing resolution was seconded by Justice Henry A. Clark and duly put to a vote on roll call, which resulted as follows: AYES: The Supervisor Albertson Councilman Demarest Councilman Valentine Justice Valentine Justice Clark resolution was declared unanimously adopted~ ~eneral -- No Ve%o 0ERTIFICATE I, ~LBERT W. HICHMOND, Town Clerk of the Town of Southold, in the County of Suffolk, New Yor~ , HEREBY CERTIFY that th~ I oregoing State of annexed extract from the minutes of a meeting of the Town Board of said Town , ~ul¥ called and held on august 10 , 1.9._6~ , has been oompared bF me ~ith the original minutes as officially recorded in my office in the Minute Book of said__ Town Board and is a true, oompleteand oorreet oopy thereof and of the whole of said original minutes so far as the same relate %o the sub~ect matters referred to in said extract. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Town oorpora%e seal of sai~ this lOth_day of August , 19 6__~_5 (Seal) EXTRACT MINUTES Meeting of the Town Board of the Town of Southoid, in the County of Suffolk, New York. July 29, 1969 regular meeting of the Town Board of the Town of Southold, in the County of Suffolk, New York, Office, 16 South Street, Greenport, Town, on July 29, 1969, at ~ was held at the Supervisor's oaid Long Island, New York, in ,, ' o'clock P . M. (D.S.T.). There were present: Hon. and Albert Martocehia, Supervisor, Councllrnan Louis M. Demarest Councilman ttoward Valentine Justice 21artln Surer Justice Henry Clara There were absent: Justice H. Perry i.'dward8 Also present: * Albert W. Robert W. * Richmond, Town Clerk Tasker, Town Attorney * Justle~ Surer and moved its adoption:- offered the following resolution RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED JULY 29, 1969, APPROPRLAT~NG $4, 250 FOR THE REDEMPTION, IN PART, OF THE $8,500 BOND ANTICIPATION NOTE FOR PURCItASE OF A PAYLOADER-1968. Recital WHEREAS, the Town of Southold (herein called "Town"), in the County of Suffolk, New York, has hereofore duly authorized, sold and issued its $8,500 Bond Anticipation Note For Purchase of a payloader-1968, and it is now desirable to redeem said Note to the extent of $4, 250 from a source other than the proceeds of the bonds in anticipation of which said Note has been issued; now, therefore, be it RESOLVED BY THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, AS FOLLOWS: Section 1. The amount of $4, 250 is hereby appropriated from funds now available to said purpose to redeem, in part, on or before August 8, 1969, the outstanding $8,500 Bond Anticipation Note For Purchase of a Payloader-1968 of the Town hereinabove referred to in the Recital of this resolution,- said funds bcing a source other than the proceeds of the bonds in anticipation of which said Note has been issued. Section 2. This resolution shall take effect immediately. * * ~ The adoption of the foregoing resolution was seconded by .lusttee Cl~k and duly put to a vote on roll call, which resulted as~follows: AYES: Supervisor Martocchia, Councilman Demarest, Councilman Valentine, Justice Surer, Justice Clark NOES: None The resolution was declared unanimously adopted. Justice Surer and moved its adoption:- offered the following resolution BOND ANTICIPATION NOTE RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED JULY 29, 1969, AUTHORIZING THE RENEWAL, IN PART, OF THE $8, 500 BOND ANTICIPATION NOTE FOR PURCHASE OE A PAYLOADER-1968, BY THE ISSUANCE OF A NEW NOTE IN THE PRINCIPAL AMOUNT OE $4, 250. Recital WHEREAS, the Town of Southold (herein called "Town"), in the County of Suffolk, New York, has duly authorized, sold and issued its $8,500 Bond Anticipation Note For Purchase of a Payloader-1968 and has duly appropriated $4, 250 for the redemption, in part, of said Note and it is now necessary and desirable to provide for the renewal, in part, of said Note by the issuance or a new Note in the principal amount of $4, 250; now, therefore, be it RESOLVED BY THE TOWN BOARD OF TIlE TOWN OF SOUTHOLD, IN TIlE COUNTY OF SUFFOLK, NEB/' YORK, AS FOLI~!OWS: Section 1. The $8,500 Bond Anticipation Note For Purchase of a Payloader-1968 of the Village, dated August 9, 1968, maturing August 8, 1969, subject to prior redemption, numbered 3R-l, heretofore duly authorized, sold and issued pursuant to the bond anticipation note resolution duly adopted by the Town Board on August 13 ', 1968, is hereby authorized to be renewed, in part, by the issuance of a new Note in the principal amount of $4, 250; the amount of $4, 250 having been heretofore duly appro- priated from a source other than the proceeds of the bonds in anticipation of which said Note has been issued, to redeem, in part, said Note dated August 9, 1968, all as hereinabove referred to in the Recital hereof, 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"). The maturity of said renewal Note herein authorized shall not be later than one year from its date and said Note may be further renewed pursuant to the provisions of the Law. Section 2. The terms, shall be as follows: ~ mount -and Title: Dated: Matures: No. Interest rate: place of payment of form and details of said renewal Note $4,250 Bond Anticipation Note For Purchase of a Payloader-1969 August 8, 1969 August 7, 1970, subject to prior redemption Denomination: $4, 250 3.90% per annum, payable at maturity principal and interest: Supervisor's Office Greenport, New York Form of Note: Substantially in accordance with form prescribed by the Law. Section 3. Said Note is hereby sold to the SECURITY NATIONAL ]3ANK OF LONG ISLAND, Southold Office, Southold, New York, at the purchase price of $4, 250, to bear interest at the rate of three and ninety hundredths per centum (3.90%) per annum, payable at maturity, and the Supervisor is hereby authorized to deliver said Note to said purchaser upon receipt of the purchase price, plus accrued interest, ifany, from the date of said Note to the date of delivery. Section 4. Said Note shall contain the recital of validity pre- scribed by §52.00 of the Law and shall be a general obligation of the Town, payable as to both 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 cf the Town are hereby irrevocably pledged to the punctual payment of the principal of and interest on said Note and provision shall be made in the budget of the Town by appropriation for the redemptio~ of the Note to mature in such year and for the paymcnt of interest to be due in such year. Section 5. Said Note shall be executed in the name of the Town by its Superxdsor and the corporate seal of the Town shall be affixed thereto and attested by its Town Clerk. Section 6. This resolution shall take effect immediately. * * * The adoption ~f the foregoing resolution was seconded by 3ustice Clark which resulted as follows: AYES: Ail present and duly put to a vote on roll call, NOES: None The resolution was dectared unanimously adopted. General - No Veto 1/i5/e9 (SM) CERTIFICATE Al. BERT W. RICHMOND, Town Clerk of the Town of Southold, in the County of Suffolk, New York State of annexed extract from the minutes of a meeting of the Town Board of said Town duly called and held on compared by me with the , HEEEBY CERTIFY that the foregoing July 29 , 19 69 has been 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 this Sth day of August , 19 69 (Seal) Town Clerk STATE ON NEW YORK : SS: COUNTY OF SUFFOLK ) A L]3ERT W. RICttMOND · being duly sworn upon his oath, deposes and says: (1) I am the duly elected , qualified and acting Town Clerk of the Town of Southold, in the County of Suffolk, New York, O~erein and ill Schedule A called "Issuer"); (2) That with respect to the contract of sale of the following deseribed obligation of the Issuer to the SECURITY NATIONAL BANK OF LONG ISLAND, Huntington, 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 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 iuterest (as defined pursnant to Article 18 of tile General Municipal Law) in such contract: Amount and Title: $4, 250 Bond Anticipation Note For Purchase of a Payloader-1969 Dated:', August 8, 1969 Matures: August 7, 1970, No. 4R-1 Denomination: Interest rate: 3.90% per,annum, subject to prior redemption $4, 250 payable at maturity (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 referenCemade a part here6£. · Town Clerk Subscribed and sworn to before me this 8th day of August, 1969. Nbtary Public, State of New York MILDRED CHAPMAN' NOTARY PUBLIC, State of New Yen~ No. 52-0618100 SMfolk SCtIP]I)ULE A 1. , is a stocl~older of the Purchaser, owning or controlling, directly or indircct]y, less than five per centum (5%) of the outstanding stock hereof but no disclosure of such interest by said officer is required pursuant to said Law; 2., has such interest in said contract, but acc_ ~dln~ to [he records of thc Issuer and ,~t~ icmen~s made to me by officers of tbe Issuer during the current fiscal year, the Purchaser has not purchased, and by virtue of the purchase of baid Bond Antici~tJon Note above described, will not have purchased Notes of the Issuer, the aggre[~atc principal amouut of which exceeds $60,000, and thc Purchaser, is not now, and by virtue of the purchase of said Note will not become the holder of Notes of the Issuer, the aggregate principal amouut of which exceeds $60,000;~ , ha~ publicly disc'~ sed the uature and extent of such interes~in wi'itiiog to the governing board of the Issuer. Such written disclosure has bee~ made a part of and sci forthin the official record of proceedings. 3. , has an interest in [he 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 dircclly involve the procurement, preparation or performance of any of sucb contract. , has publicly disclosed the nak~re and e×tent of such interest in writing to the governing board of the Issuer. Such writteu disclosure has been made a part of and set forth in the offc iai record of proceedings. ~]XTRACT OF MINUTES Meeting of the Town Board of the Town of Southold, in the County of Suffol]% New ¥o~k. Augm st l~ , 1968 A rli~l!-r meeting of the Town Board of the Town of Southold in thc County of Suffolk, New York, was held at the Supervisor's Office, 16 Soulh Street, Greenport, New York, in said Town, on A~gust 1963, at ~ o'clock ]} .M. (D.S.T.). There were present: ttonorable Lester M. Albertson, Supervisor, and Co~m:llm~l l.,o~lo M. D~re~ ~a~41ee R~r7 A. Chlrk There were absent: Justice Also present: Albert W. tlichmond, Town Clerk I/obert W. Taskcr, Town Attorney resolution and moved its adoption: offered the following TOWN O1" SOUTJI[ A[J(~t, 13, ]968 ]~()N] ) AN'J'IC] l 'ATJ ON ~,()J J, W. ][].:III,lAS, iht: U'oxw~ of Souiho]d 01('reJl~ crtIl(td "Town"), in ill{ (}(,tll4y ()[ ~ufl't~l):, Nc'w ¥o]'1% }tn~ ]*r~'etof(n'c dv]y aut]~ca'izecl, ~:oJd and $8,500 from a sour'cie oH~er than thc p2'oc:c:cds of tho bonds in antic:ip[~tion of which said Nofu has: been isf:ttecl; now, therefore, be it },3 T)]I; TOWN ),()Al,J) O1" 'J'llJ,; TOWN SOl. l'J'l[O],l), IN 'I'H],J C. OUN'J'5[ Ot,' S1Ji,'],'()J,I~, Nlq\\,' YO]/},i, AS t,'()J,I~O\VS: Sectitm l, Tho$l?,O0Cb Bcm4Ant;cilmlio~ Note For Purcl'nse ora Pay]oadc.]'- I '.b[;7 of thc: rJ'ov,'n, ]leroitlc:l~ovv rc. ft. ri'~d to in ih,' ]/c'c:itrt] of this; in antic'il~:,ticm of which s;r~/d Not,. w:tn is;s:uc:d, ami thc: said a~,,otn,t of Suporvimor Atbortoon. Cotanctlnmn Den~treot. Co~acthnmm Valentine. Jumtice Clark. Justice Sut®r Counctlmm,~ YalIM hae off('l'c'd tho fc)]]O'l'/il][>t ~Obi ] ) AN'I'I( :Il 'A '{'If )N ~ C )'J'J: ] ~ ],:',:;0 ! ,ti 'J 'Jk )~',~ 0 ]~ 'f{ I]~ TOWN 01,' S()U'J']I()],}), ~J,:W Y()]~]~, AI~()]'T],:})AUfit]S'J' JJ, l~*(;~;, AUT]I()]tI/,IN(; 'J']ll,: }[],;NI,:WA],, IN ]'AI','J', O).' Till:: 17,(tu ]/ON]) ANTIC. II'.,~TIC)N N()T]~ ],'()]I ]'LJIiCIIAS],; O1,' ]'AY]~)AI)],;]~ ]?57, ]tY ri'Ill': [~;[;UANCE Ol" A NEW NOT]': IN 'J'lilC t']:]NCII)AI, AMOUNT O1" $~;,500. ]/¢'ciLal WII]']I<]/;AS, th,. To,,vl~ of South.ld (h¢,rcfl~ c';L]]ud "Toy.re"), in the (;oun[y of F, uff.]h, Nc:w Yo:r{:, has hc'r(:tofc,vc, duly r, uthor/zc.cl, so]d ~md ia~;ued its$l'/,000 ]l(md Anti(:ii,:,ii(m N~)to ]"o~' ])uvc:]l:,s:(: of a ]':O']oadc'r 1OO,', and has ]{],,,,c ()1 ,Xrj,; ) 1~,¥ TI]]", T()\VN ];(-)Al{l) C)]" 'J']I]': 'J'()\VN ?,OllTJiCH,1}, IN '1']11:; C(IT~J, I h C)]" f;tl],'l,'()],,,,~ NI:V/ ~C)],],, AS ] C)l' ],() 1, (, ,~;;fl>j~'<'t to [,ri(~r prc,';cril~c'd by Sch~.clnle l~, 2 of the I,aw. by [f,'.',.[~O of ih~, ],fLy/ at~r] s:h;dl t.' a gc,n(rr~] ol)]il,?lic:n of thc 'J'ov/i~, l)ayab]e as its; Sup,,~'-i::,v ami t}.' cc.'po.'r,tc :;~a] of :;:dd To,,','~ ~d~:dl t.:' r, ffi,:c,d thereto and aitcr;fc.,t t,y il>' 'j'c~x,,'~ Ch't'k. AYl,:a:~pmrvtmOr Att)ertmoa0 Councttmmn D®mmr®mto Co~nctlmm*~ Justice Ctmt-k0 Jumtic~ Surer N( )]'i ,ct: EXTRACT OF MINUTES Meeting of the Town Board of the Town of Southold, in the County of Suffolk, New York. August ~ ,1967 * * A Pe~lc~~ meeting of the Town Board of the Town of Southold, in the County of Suffolk, New York, was held at the Supervisor's Office, 16 South Street, Greenport, New York, in said Town, on August 1967, at ~;ct, o'clock ~ .M. (D.S.T.). There were present: Honorable Lester M. Albertson, Supervisor, and There were absent: Also present: * resolution and moved its adoption: Albert W. Richmond, Town Clerk Robert W. Tasker, Town Attorney offered the following RESOLUTION OF TIlE TOWN OE SOUTHOLD~ NEW YORK, ADOPTED AUGUST , 1967, AUTHORIZING THE REDEMPTION, IN PART, OF A $25,840 BOND ANTICIPATION NOTE FOR PURCHASE OF A PAYI~DADER-1966, TO THE EXTENT OF $8,840 AND APPROPRIATING SAID AMOUNT THEREFOR, Recital WHEREAS, the Town of Southold (herein called "Town"), in the County of Suffolk, New York, has heretofore duly authorized, sold and issued its $25,840 Bond Anticipation Note For Purchase of a Payloader- 1966, and it is now desirable to redeem said Note to the extent of $8,840 from a source other than the proceeds of the. bonds in anticipation of which said Note has been issued; now, therefore, be it RESOLVED BY THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, AS FOLLOWS: Section 1. The $25,840 Bond Anticipation Note For Purchase of a Payloader-1966 of the Town, hereinabove referred to in the Recital of this resolution, is hereby authorized to be redeemed on or before August ll, 1967,to the extent of $8,840 from funds of the Town now available to said purpose, said funds being a source other' than the proceeds of the bonds in anlicipation of which said Note was issued, and the said amount of $8,840 is hereby appropriated therefor. Section 2. This resolution shall take effect immediately. The adoption of the foregoing resolution was seconded by and duly put to a vote on roll call, which resulted as follows: AYES: NOES: The resolution was declared unanimously adopted. offered the following resolution and moved its adoption: BOND ANTICIPATION NOTE RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED AUGUST 1967, AUTHORIZING THE RENEWAL, IN PART, OF THE $25,840 BOND ANTICIPATION NOTE FOR PURCHASE OF A PAYLOADER-1966, BY THE ISSUANCE OF A NEW NOTE IN THE PRINCIPAL AMOUNT OF $17,000. Recital WHEREAs, the Town of Southold (herein called "Town"), in the County of Suffolk, New York, has heretofore duly authorized, sold and issued its $25,840 Bond Anticipation Note For l:~urchase of a Payloader-1966 and has duly authorized the redemption of the Note to the extent of $8,840 and it is now necessary and desirable to provide for the renewal, in part, of said Note by the issuance of a new Note in the principal amount of $17,000; now, therefore, be it RESOLVED BY THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, AS FOLLOWS: Section I. The $25,840 Bond Anticipation Note For Purchase of a Payloader-1966 of the Town dated August 12, 1966, maturing August Il, 1967, subject to prior redemption, numbered lq-I, heretofore duly authorized, sold and issued pursuant to the bond anticipation note resolution duly adopted by the Town ]Board of said Town on August 9, 1966, is hereby authorized to be renewed, in part, by the issuance of a new Note in the principal amount orS17,000, said Note dated AugUst 12, 1966, having been heretofore duly authorized to be redeemed from a source other than the proceeds of the bonds in anticipation of which said Note has been issued, to the extent of $8,840, all as hereinabove referred to in the Recital hereof, pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolida t ed Laws of the State of New York (herein called "Law"). The maturity of said renewal Note herein authorized shall not be later than one year from its date, and said Note may be further renewed pursuant to the provisions of the Law. Section 2. The terms, be as follows: Amount and Title: Dated: August 11, 1967 Matures: August 9, No. 2R-1 Interest rate: form and details of said renewal Note shall $17,000 Bond Anticipation Note For Purchase of a Payloader-1967 1968, subject to prior redemption Denomination: $17,000 2.80% per annum, payable at maturity Place of payment of principal and interest: Supervisor.'s Office Greenport, 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. Section 3. Said Note is hereby sold to the SECURITY NATIONAL BANK OF IX)NG ISI,AND, Southold Office, Southold, New York, at the price of $171000, to bear interest at the rate of two and eighty hundredths per centum (2.80%) per annum, payable at maturity, and the Supervisor is hereby authorized to deliver said Note to said purchaser upon receipt of the purchase price, plus accrued interest, if any, from the date of said Note to · the date of delivery. Section 4. Said Note shall contain the recital of validity prescribed by §52.00 of the Law and shall be a general obligation of the Town, payable as to b oth'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 Note and provision shall be made in the budget of the Town by appropriation for the redemption of the Note to mature in such year and for the payment of interest to be due in such year. Section 5. Said Note shall be executed in the name of the Town by its Supervisor and the corporate seal of said Town shall be affixed thereto and attested by its Town Clerk. Section 6. This resolution shall take effect immediately. * * The adoption of the foregoing resolution was seconded by and duly put to a vote on roll call, which resulted as follows: AYES: NOES: The resolution :was declared unanimously adopted. General - No Veto CERTIFICATE ALBERT W. RICHMOND, Town Clerk of the Town of Southold, in the County of Suffolk, New York · HEREBY CERTIFY that the foregoing State of annexed extract from the minutes of a meeting of the Town Board Town of said , duly called and held on AUGUST , 19 67 , 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 %he 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 %his day of AUGUST , 19.67. (Seal) Town Clerk Auffuft 8, 1969 Hoflor~ble Alimet Martc~ehla. ~Upervt~or or the Town ~ ~t~dmldo in the C~maty of S~folk, New York Dear Sir: We have examined a recurd of proreedinfo relating to the lsrdance of · $4. 250 Bond Antictpatica Note fca. Purchase or a Payloader-1969 or the T~wn or Smlthold, in the County of Suff~k, · municipal corpc~atiou or the State or New York. Said Note 18 dated Auguft 8, 1969, matures Aufuft 7, 1970, subject to price. redempti~ao bears lntereet at the rate of three and ninety hundredths per centrum (3. 90K) per L~,_,m° payable at maturit~o is numbered 4R*I, le of the dencmflnaticn or 84, 350. ia payable to bearer without co~)oem° is reglaMrable as to both principal and intereft and ie ismaed pursuant to the previsions of the L,oeal l~nenee Law, consti- tuting Chapter 33-a or the Consolidated laws of the S~fte or New York, and the relGlution entitled: "Bcs~d Antieipetiou Note Resolution or the Town of Southold, New Yea.k, adopted July 29, 1089. euthorisinf the renewal, in part. of the $9. SOO Bond Anticipation Note fca. Purchase of a Payloader-1988o by the issuance or a new Note in the principal mount or $4° 350," duly adopted by the Town Bmrd ca the date theretn referFod to. Said Bond Anticipatica Note is a temporary obligation, issued la anticipatloa of the issuance or permanent serial bcada. In car opAnion, said Bond Anticipation Note la a valid and legally binding general .c~dJfa~on of the Town or Southold, all the iLuble real property within which ia subject to the levy of ad valca.em taxes to pay said Note and the interest thereon° without lindtatlon or rate or The form of said Note is prescribed by resolution duly adopted by the Town Board on July 35, 1969, but we have not examined said executed Note. Very truly yours° ,.(LSOLLVt iON C)F THt~ TOWN OF S.OUTHOLD, ~.~ Y(3~K, Ai~PT~D o~t~m ........ ,1967 A[,'IHU; iZ~N., "/'~LE REDEMPTION, IN PAF~"i", OF ~ Recital ~:,: L~ml F:~nc~ ~w, con~tit~in~ ~r 33-a :~.'.. i, '~ :.~ ~-' . ..... ] ]',!c,t'*~ ~rain authoriz~'d shall not ~' An, ount ~d Tit~e: 351,000 Bond Anticipation ~Mim~ For Land Acquigition- 196 7 D~ed: J~e 7. t967 Ma~;'e~: Ju~/~ ~, 1968. ~ject to prior redem~l~ No, ~-I ~mination: $51, ~O lnteresi r~; 2-3/4% ~r afl~, payable at Place o~ paymen~ oi principal ~d i~t~: Supervisor'~ O~fice Oreen~'l, New Form off Note: ~ubst~tially in accordance ~f.th pr~scri~ by ~h~dule B, 2 cf the Flr~ne~ Law of the ~ate of New ~ ~ ~.nd duly pu~ ~c, ~ vote on roll cali, ~ N,~IE IN . ~ ~NCIFA AMC;'UNT OF~51,0':o '~;= i~'.;. O00 Dc, nd An~:clpatD~ Nole For Land Acqulsiti<m 5u~L.c;z:od lite :edemptlon r:Jthe Note to the ezten~ cf h~ .::',e C~suance of a new Note in the princi~l amount EXTRACT OF MINUTES Meeting of the Town Board of the Town of Southold, in the County of Suffolk, New York. June 7 , 1966 * * * A ~'$~'Ula~ meeting of the Town Board of the Town of Southold, hq the County of Suffolk, New York, was held at the Supervisor's Office, 16 South Street, Greenport, New York~ in said Town, on June 1966, at ~ o'clock p .M. (D~S.T~)o There were present: and Hon~ Lester M. Albertson, Supervisor, Jumtice Ralph W. Tuthill Jumtice Henry A. Clark CounclL,~n Loui~ M. Demarest Councilman Howard C, Valentine There were absent: Also present: Albert W. Richmond, Town Clerk Robert W o Tasker, Town Attorney Ju~ttice Clark resolution and moved its adoption : offered the following BOND ANTICIPATION NOTE RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED JUNE ? , 1966, AUTHORIZING THE ISSUANCE OF $63,000 NOTES IN ANTICIPATION OF THE SALE OF SERIAL BONE~ OF THE TOWN HERETOFORE AUTHORIZED TO BE ISSUED FOR THE ACQUISITION OF CERTAIN LAND AT CUTCHOGUE, IN SAID TOWN, AS THE SITE FOR A REFUSE DISPOSAL AREA° RESOLVED BY THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, AS FOLLOWS: Section 1. Bond Anticipation Notes of the Town of Southold, in the County of Suffolk, New York, in the principal amount of $63,000 are hereby authorized to be issued at one time or from time to time, as funds are required, pursuant to the provisions of the Local Finance Law, constitu- ting Chapter 33-a of the Consolidated Laws of the State of New York, for the specific object or purpose as more fully described in the resolution entitled: "Bond Resolution of the Town of Southold, New York, adopted May 10, 1965, authorizing the acquisition of certain land at Cutchogue, in said Town, as the site for a refuse disposal area to be designed as the site of a sanitary land fill installation, stating the estimated maximum cost thereof is $63,000, appropriating said amount therefor and authorizing the issuance of $63,000 serial bonds of said Town to finance said appropriation," duly adopted by the Town Board of said Town on the date therein referred to° Said Notes are to be issued in anticipation of the sale of serial bonds of said Town. No bond anticipation notes have been previously issued or are presently outstanding in anticipation of the sale of said bonds and the Notes herein authorized are not renewal Notes. The period of maturity of the Notes herein authorized shall not exceed one year from the date of said Notes and said Notes may be renewed pursuant to the provisions of said Local FL~ance Law. Said Notes herein authorized are not to be issued for an assessable improvement, Section 2. Subject to the provisions of this resolution and of the Local Finance Law, and pursuant to 550.00 and $§5G. 00 to 60.00 of said Law, the power to prescriJ)e the tern~s, [orn~ ,and contents and as to the sale and issuance of the bond anticipation notes authorized by this resolution al~e hereby delegated to the Supervisor, the chief fiscal officer of the Town. Section 3, Said Notes shall be executed in the name of the Town by its Supervisor and the corporate seal of said Town shall be affixed thereto s_nd attested by its Town Clerk. Section 4. This resolution shall take effect immediately. * * The adoption of the for ~om~, resolution was se~,onded by Councllm~n Valemtine which resulted as follows: AYES; and duly put to a vote on roll call, Supervisor Albertaon, Justice Tuthtll, Justice Clark. Councilman Demareat and Councilman Valentine NOES: None The resolution was declared unanimously adopted. General. -- Ho ¥o%0 CERTIFICATE X, AL.BERT W. RICHMOND, Town Clerk o~ the ToYs of Southold, tn the Covm~ or Suffolk. State of New York , KI/:REBY CERTIl~Ythat the foregoing -n~exed extract from the minutes of a meeting of the Town Board of said Town duly called and held on JUNE . 19 .$6 has been compared by mo with tho origins1 minutes as officially recorded in n~ office in tho iinute Book of said Town Boo2d and is a t~uo, complete and correct copy thereof and of tho whole of said original minutes so far as the same relate to tho subject matters referred to in said extract. IN WITNESS Wm~EOF, I have hereunto set my hand and affixed tho corporate seal of said TowlJ %his,~~ day of JUNE , 19 66. (Seal) T~wn Clerk Extract of Minutes Meeting of the Town Board of the Town of Southold, in the County of Suffolk, New York October 7, 1969 * A regul!r meeting of the Town Board of the Town of Southold, in the County of Suffolk, New York, was held at the Supervisor's Office, 16 South Street, Greenport, Long Island, New York, in said Town, on October 7, 1969, at 3 o'clock There were present: P.M. (D. S. T. ). Supervisor Albert M. M~rtocchia Councilman Louis M. Demarest Councilman Howard Valentine_ Justice Henry Clark Justice Martin Surer There were absent: Justice E, Perry Edwards Also present: Albert W. Richmond, town Clerk Robert W. T~sker, Town Attorney Justice Suter and moved its adoption: offered the following resolution RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED OCTOBER 7, 1969, APPROPRIATING $3,000 FOR THE REDEMPTION, IN PART, OF THE $10,400 BOND ANTICIPATION NOTE FOIl PURCHASE OF TAX ACCOUNT 1ViACHINE- 1968 Recital WHEREAS, the Town of Southold (herein called "Town"), in the County of Suffolk, New York, has heretofore duly authorized, sold and issued its $10,400 Bond Anticipation Note For Purchase of Tax Accounting Machine-1968 pursuant to the provisions of the Local Finance Law, con- stituting Chapter 33~a of the Consolidated Laws of the State of New York, and it is now desirable to redeem said Note to the extent of $3, 000 from a source other than the proceeds of the bonds in anticipation of which said Note has been issued; now, therefore, be ii RESOLVED BY THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, AS FOLLOWS: Section 1. The amount of $3,000 is hereby appropriated from funds of the Town now available to said purpose to redeem, in part, on or before October 10, 1969, the $10,400 Bond Anticipation Note For Purchase of Tax Accounting Machine-1968, dated October 11, 1968, maturing October 10, 1969, subject to prior redemption, numbered R-l, heretofore duly authorized, sold and issued pursuant to the bond anticipation note resolu- tion duly adopted by the Town Board on October 8, 1968, and the Supervisor is hereby authorized and directed to set aside and apply said amount to such partial redemption of said Note. Section 2. This resolution shall take effect immediately. * * * The adoption of the foregoing resolution was seconded by Counctlr~n Yalentine and duly put to a vote on roll call, which resulted as follows: AYES: Supervisor M~wtochhi~ Cottllcilen~ll Demswest, Councllnmn Valentine, Justice Clark, Justice Suter NOES: None The resolution was declared unanimously adopted. Juetice Surer offered the following reso- lution and moved its adoption: BOND ANTICIPATION NOTE RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED OCTOBER 7, 1969, AUTHORIZING THE RENEWAL, IN PART, OF THE $10,400 BOND ANTICIPATION NOTE FOR PURCHASE OF TAX AC- COUNTING MACHINE-1968, BY THE ISSUANCE OF A NEW NOTE IN THE PRINCIPAL AMOUNT OF $7, 400. Recital WHEREAS, the Town of Southold (herein called "Town"), in the County of Suffolk, New York, has heretofore duly authorized, sold and issued its $10,400 Bond Anticipation Note For Purchase of Tax Accounting Machine-1968 and has duly authorized the redemption of said Note to the extent of $3,000 from a source other than the proceeds of the bonds in an- ticipation of which said Note has been issued, and it is now necessary to provide for the renewal, in part, of said Note by the issuance of a new Note in the principal amount of $7, 400; " now. therefore, be it RESOLVED BY THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, AS FOLLOWS: Section 1. The $10,400 13ond Anticipation Note For Purchase of Tax Accounting Machine-1968, dated October 11, 1968, maturing October 10, 1969, subject to prior redemption, numbered R-l, heretofore duly authorized, sold and issued pursuant to the bond anticipation note resolu- tion duly adopted by the Town Board on October 8, 1968, is hereby author- ized to be renewed, in part, by the issuance of a new Note in the principal amount of $7,400; said Note dated October 11, 1968 having been heretofore duly authorized to be redeemed from a source other than the proceeds of the bonds in anticipation of which said Note has been issued, to the extent of $3,600, all as hereinabove referred to in the Recital hereof, 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"). The maturity of said renewal Note herein authorized shall not be later than one year from its date and said Note may be further renewed pursuant to the provisions of the Law. Section 2. The terms, form and details of said renewal Note shall be as follows: Amount and Title: $7,400 Bond Anticipation Note For Purehase of Tax Accounting Machine- 1969 Date: October 10, 1969 Maturity: October 9, 1970, subject to prior redemption Number and 2R-1 Denomination: $7,400 Interest Rate: 4.85% per annum, payable at maturity Place of Payment of Principal and Interest: '~ Office of the Supervisor Greenport, New York " Form of Note: Substantially in accordance with the form prescribed by Schedule B, 2 of the Law Section 3. Said Note is hereby sold to THE NORTH FORK BANI< & TRUST COMPANY, Mattituck, New York, at the purchase price of $7,400 to bear interest at the rate of four and eighty-five hundredths per centum (4.85%) per annum, payable at maturity, and the Supervisor is hereby auth- orized to deliver said Note to said purchaser upon receipt of the said pur- chase price, plus accrued interest, if any, from the date of said Note to the date of delivery. Section 4. Said Note shall contain the recital of validity prescribed by §52.00 of the Law and shall be a general obligation of the Town, payable as to both 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 pay- ment of the principal of and interest on said Note and provision shall be made in the budget of the Town by appropriation for the redemption of the Note to mature in such year and for the payment of interest to be due in such year. Section 5. Said Note shall be executed in the name of the Town by its Supervisor and its corporate seal shall be affixed thereto and attested by its Town Clerk. Section 6. This resolution shall take effect immediately. * * The adoption of the foregoing resolution was seconded by Counc!~m~ Valentine call, which resulted as follows: AYES: and duly put to a vote on roll Supervisor Martocchia~ Councilman Demaresto Councllm~n Valentine, Justice Clark, Justice Suter NOES: None The resolution was declared unanimously adopted. General - No Veto CERTIFICATE I, ALBERT W. RICHMOND, Town Clerk of the Town of Southold, in the County of Suffolk, New York State of annexed extract from the minutes of a meeting of the Town Board of said Town duly called and held on October 7, compared by me with the original minutes as 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 this lOth day of October , 19 69. , HEREBY CERTIFY that the foregoing , 19 69 has been officially recorded in my (Seal) October 10. 1969 Honorable Albert M. Martocehtm Sul~rvisor of tim Town of Southold, in the County of Suffolk, New York Dear Sir: We lmv~ mramtnmd a r~cord of proe~t~.~a relating to the issumlee of a $~, 400 Bo~d ~ntietpation Note For Purchase ~f Tax Accounting Machine-1989 of the Town of Southold, in the County of Suffolk, a municipel corporation of the State of New Yo~k. Said Bond ~nttcipntion Note is dated October 10, 1969, matures October 9, 1970o subject to prior redem~timlo bears interest at the rate of four and eighty-five hundredths per cesium (4.85%) per msmun~ p~yable et maturity, is numbered 21q-l, ts of the denomination of $?, 400, is payable to bearer without coupons, ts re~isterable ms to both principal and interest, and is issued pursuant to the provisions of the Local Finance Law, conmtitutin~ Chapter 33-a of the Consolidated Laws of the State of New York, and the resolution entitled: "Bond Antieli~tinn Note Resulutimi of the Town of Southuld, New York, adopted O~tober ?, 1969, aothorisin~ the renewal, tn part, of the $10. 400 Bound ~nti~ipmtton Note For Purchase of Tax ~ccou~_!~ Machtne-l~69, by the issuance of a new Note in the principal mount of $?, 400'0 duly adopted by the Town lBo~rd on the date therein referred to. Said Bond Anticipation Note is a temporary obll{ation, issued in anticipatiou of the issuance of permanent serial bonds. In our opinion, said Note is a v~lid and legally binding general obligation of the Town of Southold, New York, all the taxable real property within which is nubJmot to the levy of ad valorem taxes to pay said Note and the interest thereon, without limitation of rate or amount. The form of said Note is prescribed by said resolution duly adopted on October ?, 1969o but we have not examined the execut ed Note. Very truly yours, ~) ~ EXTRACT OF MINUTES Meeting of the Town Board of the Town of Southold, ,in the County of Suffolk, New York June 22, 1971 A r~u~ar meeting of the Town Board of the Town of Southold, in the County of Suffolk, New York, was held at the Supervisor's Office, 16 South Street, Greenport, Long Island, New York, in said Town, on June 22, 1971, at 3 o'clock .M. (D.S.T.). There were present: There were absent: Also present: Honorable Albert M. Martocchia, Supervisor, and Justice E. Perry Edwards Albert W. Richmond, Town Clerk Robert W. Tasker, Town Attorney , ~ ~'t'ib~n ,slentine offered the following resolution and moved its adoption: RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED JUNE 22, 1971, AUTHORIZING THE REDEMPTION, IN PART, OF A $10,500 BOND ANTICIPATION NOTE FOR LAND ACQUISITION-1970, TO THE EXTENT OF $3,500 AND APPROPRIATING SAID AMOUNT THEREFOR. Recital WHEREAS, the Town of Southold (herein called "Town"), in the County of Suffolk, New York, has heretofore duly authorized, sold and issued its $10,500 Bond Anticipation Note For Land Acquisition-1970 and it is now desirable to redeem said Note to the extent of $3,500 from a source other than the proceeds of the bonds in anticipation of which said Note~has been issued; now, therefore, be it RESOLVED BY THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, AS FOLLOWS: Section 1. The $10,500 'Bond Anticipation Note For Land Acquisition-1970 of the Town, hereinabove referred to in the Recital of this resolution, is hereby authorized to be redeemed on or before July 1, 1971, to the extent of $3,500 from funds of the Town now available to said purpose, said funds being a source other than the proceeds of the bonds in anticipation of which said Note was issued, and the said amount of $3,500 is Section 2. immediately. * hereby appropriated therefor. This resolution shall take effect The adoption of the foregoing resolution was seconded by Jumble Del~am~t and duly put to a vote on roll call, which resulted as follows: NOES: Non~ The resolution was declared unanimously adopted. · · Co~.~flmnnVn, l~nt,[n~ offered the following resolution and moved its adoption: BOND ANTICIPATION NOTE RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED JUNE 22, 1971, AUTHORIZING THE RENEWAL, IN PART~ OF THE $10,500 BOND ANTICIPATION NOTE FOR LAND ACQUISITION-1970, BY THE ISSUANCE OF A NEW NOTE IN THE PRINCIPAL AMOUNT OF $7,000. Recital WHEREAS, the Town of Southold (herein called "Town"), in the County of Suffolk, New York, has heretofore duly authorized, sold and issued its $10,500 Bond Anticipation Note For Land Acquisition-1970 and has duly authorized the redemption of the Note to the extent of $3,500 and it is now necessary and desirable to provide for the renewal, in part, of said Note by the issuance of a new Note in the principal amount of $7,000; now, therefore, be it RESOLVED BY THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, AS FOLLOWS: Section 1. The $10,500 Bond Anticipation Note For Land Acquisition-1970 of the Town dated July 1, 1970, maturing July 1, 1971, subject to prior redemption, numbered 2R-l, heretofore duly authorized, sold and issued pursuant to the bond anticipation note resolution duly adopted by the Town Board of said Town on June 30, 1970, is hereby authorized to be renewed, in part, by the issuance of a new Note in the principal amount of $7,000, said Note dated July 1, 1970,having been heretofore duly authorized to be redeemed from a source other than the proceeds of the bonds in anticipation of which said Note has been issued, to the extent of $3,500, all as hereinabove referred to in the Recital hereof, 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"). The maturity of said renewal Note herein authorized shall not be later than one year from its date, and said Note may be further renewed pursuant to the provisions of the Law. Section 2. The terms, form and details of said renewal Note shall be as follows: Amountand Title: $7,000 Bond Anticipation Note For Land Acquisition-1971 Dated: July 1, 1971 Natures: June 30, 1972, mbject to prior redemption No. 3R-1 Denomination: $7,000 Interest rate: 2.95% per annum, payable at maturity Place of payment of principal and interest: Supervisor's Office Greenport, New York Form of Note: Substantially in accordance with form prescribed by Schedule B, 2of the Law. Section 3. Said Note is hereby sold to THE NORTH FORK BANK AND TRUST COMPANY, Mattituck Office, Mattituck, New York, at the price of $7,000, to bear interest at the- rate of two and ninety-five hundredths per centum (2.95%) per annum, payable at maturity, and the Supervisor is hereby authorized to deliver said Note to said purchaser upon receipt of the purchase price, plus accrued interest, if any, from the date of said Note to the date of delivery. Section 4. Said Note shall contain the recital of validity prescribed by §52.00 of the Law and shall be a general obligation of the Town, payable as to both principal and interest by a gener~ 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 Note and provision shall be made in the budget of the Town by appropriation for the redemption of the Note to mature in such year and for the payment of in'retest to be due in such year. Section 5. Said Note shall be executed in the name of the Town by its Supervisor and the corporate seal of said Town shall be affixed thereto and attested by its Town'Clerk. Section 6. immediately. * The adoption This resolt~lon shall take effect * of the foregoing resolution was seconded and duly put to a vote on roll call, which resulted as follows: AYES: AU NOES: The resolution was declared unanimously adopted. General - No Veto 1~/1/$9 /SM) CERTIFICATE ALBERT W. RICHh~OND, Town Clerk of the Town of Southold, in the County of Suffolk, Ne w York State of , HEREBY CERTIFY that the foregoing annexed extract from the minutes of a meeting of the Town Board of said Town , duly called and held on June 22 , 19 71 , 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 originaiminutes so far as the same relate to the sub3ect matters referred to in said extract. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of said Town this22nddayof June , 19 71. (Seal) Town CIerk EXTRACT OF MIiYUTES Meeting of the Town ]3oard of the Towu of Sou[hold, in the County of Suffolk, New York. March ]2, 1968 * * A regular meeting of the Town Board of the Town of Southold, in lhe County of Suffolk, New york, was held at the Supervisor's Office, 16 South Street, Greenport, Long Island, New York, in said Town, on March 12, .1968, There were present: lion. Lester M. Alber[son, Supervisor, and There were absent: Also present: Alberl W. Richmond, Town Clerk Robert W. Tasker, Town Attorney resolution and moved its adoption: offered the following BOND RESOLUTION OF TIlE TOWN OF SOUTHOLD, NEW YORK, ADOPTED MARCH 12, 1968, AUTHORIZING TIIE ACQUISITION OF CERTAIN LAND ON THE NORTttERLY SIDE OF MAIN ROAD, IN PECONIC, IN SAID TOWN, FOR TOWN PURPOSES, STATING THE ESTIMATED MAXIMUM COST fl~HEREOF IS $'i7_~, 500~ APPROPRIATING SAID AMOUNT TtIt']REFOR AND AUTHORIZING THE ISSUANCE OF $17~ 500 SERIAL BONDS TO FINANCE SAID APPROPRIATION. THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN TIlE COUNTY OF SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote of not less than two-thirds of all the members of said Board) AS FOLLOWS: Section 1. The Town of Southold (herein called "Town"), in the County of Suffolk, New York, is hereby authorized to acquire by purchase, condemnation or otherwise, the certain piece dr parcel of land on the northerly side of Main Road,hounded on the north by land of Dobek, on the east by land of lhe Town of Southold and land of Sternemann and on the west by land of Gadomski, in Peconic, in lhe Town, for Town purposes, said piece or parcel of land containing 5.. 851 acres, more or less~ and being more particularly described by metes and bounds as follows: BEGINNING at a concrete monument sel on the northerly side of Main Road at the soulheasterly corner of land now or formerly of Gadomski and the southwesterly corner of ibc premises herein described; running thence along said land of Gadomski North 33 degrees 31 minutes 20 seconds West 1020.00 feelto a locusl post and land now or formerly of Dobek; lbence along land last mentioned North 46 degrees 42 minules 20 seconds East 267. 15 fee~ to a eoncrele monument and land of the Town of Soufl]old; thence along ]and lasl mentioned Sou~h 33 de grees 31 minntcs 20 seconds East S22. S5 feet lo a concrete monument and ]and now or forn~erly'of S~erne~mann; thence along land last mentioned two courses as follows~ to xvi~: (1) Sou~h 48 degrees 40 minuics 00 seconds West 100.00 fee~; th:.~ (2) S~)u[h 38 degrees 53 mh~utc:s 00 seeoncl~ ]~Jos[ 205.00 fee[ to ~:ffd no~:[he~ y sicle of ]lqah~ l~oad; il,trace a!on~[ sai(I northerly side of Main Road South 48 degrees 40 minutes 00 seconds West 177.84 feet to a concrete monument and the point or place of beginning. The estimated maximun~ cost of said specific object or purpose, including preliminary costs of surveys, maps, plans, es[i~'nates and hearings and costs incidental thereto and the financing tl~ereof, is $ 17 ~ 500 and the sai~ amount is hereby appropriated therefor. The plan of financing includes the issuance of $ 17 , 500 serial bonds to finance said appropriation~ and the levy and collection of taxes on all the taxable real property in the Town to pay ~be principal of said bonds and the interest thereon as the same shall become due and payable. Section 2. Serial bonds in the principal amoun~ of $ 17 ,500 to finance said appropriation 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 "La~v"). Section 3. The following additional matters are hereby deter- mined and declared: (a) The period of probable usefnlness of acquiring said land, being the specific object or purpose for which said $ 17, g:O0 serial bonds authorized pursuant to this resolution are to be issued~ within the limitations of Section 11.00 a. 21 of the Law, is thirty (30) years, but the maturity of said bonds shall not exceed fi£teen (1~) years. (b) Current funds are not required to be provided prior to the issuance o£ the serial bonds authorized by this resolution, or any bond anticipation notes in anticipation of the sale of such bonds., pur'suant to the provisions of Section 107.00 d. 4. of the Law. (c) The matt~ri[y of the bonds authorized pursuant to this resolution will excee¢] five (5) years. Section 4. Each of the bonds authorized pursuant to this resolution and any bond anticipation notes issued in anticipation of said bonds, shall contain thc recital of validity prescribed by §52. 00 of the Law and said bcr~ ds and any notes issued in anticipation of said bonds, shall be general obligations of the Town, payable as to both principal and interest by a general ilk 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 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 ~30.00 relative to the authorizat ion of the 'issuance of bond anticipation notes and of ~50.00 and §~56.00 to 60.00 of the Law, the powers and duties of the Town ]Board relative to prescribing the terms, for'm and contents and as to the sale and issuance of said bonds and any notes issued in anticipation of said bonds, or the renewals thereof, 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 said bonds, may be contested only if: such obligations are authorized for an object or purpose for which the T~)wn is not authorized to expend money, or (b) the provisions of law which 'should be complied with at the date of publication of such resolution, are not substantially complied with, and an action, suit or proceeding contesting snch validity, is commenced within twenty days after the date of such ImhJicalion, or Section 7. The bond resolution of the Town, duly adopted December 26, 1967, entitled: "Bond Rcsolution of the Town of Southold, New York, adopted December 26, 1967, authorizing (1) (A) acquisition of certain land situate on the northerly side of Main Road, at Feconic, in said Town, as the site of a po]ice headquarters building, at an estimated maximum cost of $6,000 (IF,) appropriation of said amount therefor, and (C) issuance of $6,000 serial bonds to finance said appropriation, (2) (A) acquisition of the existing building on said site for use as such police headquarters, at an estimated maximum cost of$18,000, (B) appropriating said amount therefor, and (C) issuance of $18,000 serial bonds to finance said appropriation, and, (3) (A) reconstruction, in part~ of said building, at an estimated maximum cost of $6,000, appropriation of said amount therefor, includinf $300 current funds to provide the down payment and (C) issuance of $5,700 serial bonds to finance the balance of said appropriation, and stating the estimated total cost of acquiring said land and building and reconstructing said building is $30,000," is hereby repealed, rescinded and revoked. Section 8. This resolution shall take effect thirty (30) days after its adoption, unless within thirty (30) days after its adoption there shall be filed with the Town Clerk~ in accordance with Article 7 of the Town Law, a petition signed and acknowledged by electors of the Town of the number required by law, qualified to vote upon a proposition to raise and expend money, protesting against this resolution and requesting that it be submitted to the electors of the Town for their approval or disapproval, in which case this resolution shall take effect when approved by the affirms- rive vote of a majority of the qnalified electors of the Town, voting upon a proposition for its approval at a referendnm held in accordance with the Town Law. The adoption of tt~e foregoing resolution was seconded by and duly put to a vote on roll call, which r,~sultc¢· as follows: AYES: NOES: The resolution was declared unanimously adopted. offered lhe fol]owing~ resolut.ios ~n(t of the bond rc:.o]ulio:~ referred to in the ?( "re of ~?)tice hereii:z~ter set fc ~ ~n ~rJ'.]',](I,Y T; ix, iES'~, a new~;paper pul}Ii:heal in Grc~4~po:t, New York, herinZ a general circu]r, tion wJtl~in s;aJcl Town and hereb) des4gnat ed as; the official news:paper of sa~d 'fown, and to be po~4ted on the si~n board ~ntaJn(aJned pursuant to ~td)dJvjsJon 6 of Section 30 of the Town I,aw,. a Not~ce width shrD1 s;et forth lhe date of adoption, of s;rtJd foregoing res:ol~d~on r, nd contain an abstr:tat thereof concisely sLaLJ~x[,; its purpose ax',d effect. Section 2. After said bond r-csc,]ulion shr~ll take effect, thc Town Clerk is her~:by dirc'ct~:d to c~use ~.Jcl bond rc,.r:ol'ul.~on to be in ful], in ~ILE: ~ex¢::pzzper herefnabovo referred to fn Section 1 he. reef, and he]'eb>~ desJfjnat ed the official nev,'spapcr for said pul)]ic:atJon, lo~etlter with a not;ce in sul~stantially the fcrm a~; provfded by Section 81.00 of the J~oca] Fiu3nce ]b~xv, con¢~Ututfn~ Chapter 33~aofthe Conso].tdated J,aws of the State of New York, unless a valid peti.tion sha]] have been fi)ed in accordance witl~ Artic]e 7 of the Town l.,aw protcsiing against said bond resolution and re- qttc::,ti2n~ it l)e s~d~nnttted to the electors for their rq~prova] or Section 3. The Notice refereed to iu Sec[fen 1 hem'(of in atd,:;tt~ntt:~]]~ the fc~llov.,in2: TOWN OF SOUTtIOLD, IN TIlE COUNTY OP SUFt~'OLK, NEW YORK PLEASE TAKI'] NOTICE that on March 12, 1968, the Town Board of the Town of Southold, in the County of Suffolk, New York, adopted a bond resolution entitled: 'rBond Resolntion of the Town of S. outhold, New York, adopted March 12, 1968, authorizing the acquisition of certain land on the northerly side of Main Road, in Peconic, in said Town, for Town purposes, stating the estimated maximum cost thereof is $ 17 ;500, appropriating said amount therefor and authorizing the i'ssuance of $ serial bonds to finance said appropriation," an abstract of ~vhich resolution concisely stating the purpose and effect thereof, is as follows: 17 , 500 ]~'IRST: AIITHORIZING the Town of Southold {"Town"), to acquire by purchase, condcrnnation or otherwise, the certain land on the northerly side of Main Road, bounded on the north by land of Dobek, on the east by land of the Town and land of Sternemann and on the ~vest by land of Gadomski~ in Peconic, in the Town, for Town purposes; DESCRIBING said land by metes and bounds; STATING the estimated maximum cost thereof is $ 17 , §30; APPROPRIATING said amount therefor; and STATING the plan of financing includes the issuance of $ 17 , 500 serial bonds to finance said appropriation and the levy and collection of taxes on all the taxable real property in the Town to pay lhe principal of said bonds and the interest thereon as the same shall become due. and payable. SECOND: AUTItORIZING the issuance of $ bonds to finance said appropriation; 17 , ~500 serial THIRD: DETERMINING that (a) the period of probable usefulness of acquiring said land is 30 years, but the maturity of said bonds shall not exceed fifteen (15) years; (b) current funds are not required to be provided prior to the issuance of such bon~s or any notes in anticipation thereof; and (c) the maturity of said serial bonds will exceed five (5) years; FOUiITtt: DETERMINING that said bonds and any notes issued in anticipation of said bonds shall be genera'] obligations of the Town and PL>~'DGING to their payment the faith and credit of the To~w~; FIt~'TH; DELEGATING to the Supervisor the powers and duties as to the issuance of said bonds and any such notes in anticipation of said bonds or the renewals thereof; SIXTII: STATING the validity of the bonds authorized by the resolu- tion or any notes in anticipation of said bonds, may be contested only if (a) such obligations are authorized for an object er 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 publication of the resolution are not substan- tially complied with and an action, suit or proceeding is commenced within 20 days after such date of publication, or (C) such obligations are authorized in violation of the constitution; SEV~NTtI: REPEALING, RESCINDING AND REVOKING the Bond Resolution adopted by the Town Board on December 26, 1967 authorizing the issuance of $6,000 serial bonds for acquisition of certain land, $18~000 serial bonds for acquisition of the building thereon and $5~ 700 serial bonds for reconstruction~ in part, of said building~ and EIGHTH: PROVIDING that said bo~d resolution shall take effect 30 days after its adoption unless within 30 days after its adoption petition for its submission to thc electors shall be filed in accordance with law, protesting against the resolution and requesting it be submitted to the electors for their approval or disapproval. Dated: MARCH 12~ 1968 BY ORDER OF THE TOWN BOARD O1~ THE TOWN OF SO~THOLD, NEW YORK ALBERT W. RICHMOND Town Clerk Seqtion 4. This resolution shall take effect immediately. * The adoption of the foregoing resolution was seconded by and duly put to a vote on roll call, which resulted as follows: AYES: NOES: The resolution was declared unanimously adopted. General - No Veto 6/ /67 CERTIFICATE ALI~ERT Wo RICHMOND, Town Clerk of the Town of Southo]d, in the County of Suffolk, New York State of__ , HEREBY CERTIFY that the foregoing annexed extract from the minutes of a meeting of the Town Board of said Town duly cal!cd and held on MARCH 12 , 19 68 , 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 originalminutes 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 this ]2ih day of MAECH , 19 68. (Seal) Town Clerk June 30. 1972 The Town Board of the Town of Southold, in the County of Suffolk. New York Dear Sirs: We have examined a record of proceedings relating to the issuance of a $3,500 Bond Anticipation Note For Land Acquisition-1972 of the Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York. Said Bond Anticipation Note is dated June 30, 1972, matures June 29, 1973, subject to prior redemption, bears interest at the rate of two and seventy-eight hundredths per centum (2.78%) per annum, payable at maturity, is numbered I, is of the denomination of $3,500, is payable to bearer without coupons and registerable as to both principal and interest, and is issued pursuant to the provisions of the Local Finance Law, constituting Chapter of the Consolidated Laws of the State of New York, the bond resolution duly adopted by the Town Board on March 12, 1958 authorizing acquisision of certain land on the northerly side of M~n Bond, in Peconic, in said Town, at an estimated maximum cost of $17, 500, appropriating said amount therefor and authorizing $17, 500 serial bonds to finance said appropriation and the Certificate of Determination executed by the Supervisor on June 30, 1972. Said Bond Anticipation Note is a temporary obligation, issued in anticipation of the issuance of permanent serial bonds. In our opinion, said Bond Anticipation Note is a valid and legally binding general obligation of said Town of Southold, all the taxable real property within which is subject to the levy of ad valorem taxes to pay said Note and interest thereon, without {imitation as to rate or amount. The form of said Note is prescribed by t he Certificate of Determination executed by the Supervisor on June 30, 1972, but we have not examined the executed Note. ~~~~Very truly yours~