The URL can be used to link to this page

Home My WebLink AboutFerry Boat Bond Issue 1950 ,- -,.".,' ~CTION Heading on front page should read "$10(", noo Town of South old, ,Suffolk County. New York" as is indicated throughout the balance of the pamphlet. ' CORRECTION Heading on front page should read"$lOO,OOO Town of Southold, ,Suffolk County, New Yo::-k" as is indicated throughout the balance of the pamphlet. . ADH.RTIUMF.NT AND 80/''':0 'ROP08AI. $100,000 S':;. TOWN OF SOUTHOLD, a COUNTY, NEW YORK FISHERS ISLAND FERRY DISTRICT (SERIAL) BONDS, 1950 STATIS'l'ICS PREPARED AND DIS'l'RIBUTED Sf GCJVERlI(ENTAL stATISTICAL CCIlPCIU.'1'IQJI _York 4PPIlCWIIIl OPDIDlI TCAIIf ATTOJIIIBr MISSRS. VANIE'iA'l'ER, SYIES, BECILI:R & GALI.CWAY _Yori: REEBELAIR G. TBRRr, J1L, ESQ. Moi. ..... Soutbold, Rev York SEALED PROPOSALS WILL BE RECEIVED UNTIL 2:00 OICLOOI. P .H., EASTERN STA.BD&.RD TIME, ON NO"lDmER 29, 1950. l'OOTlCE 01' SALE _lad p1'Op08ltl.o vU1 be reooi_ aDd oDllDldoNd by tho uodoroillDOd Snpel'Vi.... or tho TOlIl1 or __14, 8lIttolk 00ua.t7, tfev York, at the 9upel'9'i.01'a ottioe, 16 South street, in Greea.port, N.., Yori:: (P.O. Address: 16 South street, GI 1 rot, Hew York) U 2 o'o1oot P.M., Eastern standard '!'be, CD the 29th da,y at JIIonmber, 1950, at vbioh -u. aDCl p1aoe the bide vlll be opeIl8d tor the purobaee at DOt less than par aDd aoorue:l intet'ellt r4 1100,000 Fisher. Island Perry ns..trict (Serial) Bmd8, 1950, ~ eai4 Town, or the dea.OIIIinatiOl1 or t1,000 each, dated. October 1, 1950, -tunns: 110,000 on (btober 1 in each of the ;ye&rII 19S1 to 1960, both incluin, and bMr1.nc irlternt at a rate not uaeediag tin pc" oea.t_ per aDnUII pqabt. ._-annualq April 1 and October 1. PriDoipa1l1D4 intere.t r4 said bond8 are pqab1e in lawful moftq ot t.be United states or AmeriCA at The Fint kUoul Bank r4 the CitJ' or .., York, in hw Tart, New York. Bonds will be in bearer tOl'll. with coupoD8 attach.:! ad. .., be con'9'Vt4d. into tulq nclstered baa48, aDd will be valid and 1.&117 bil:ldirla ienera1 obligations ot aaid tcMa, pqab1e 111 the t1rlJt inatenoe f'raa . 1"7 UPOO properV in the Fishera ulAnd Pet'T7 Di.trict in the TOWD., but it DOt pa1d f'loca .uch leYJ', all 't'.U taxabl.e real property witb1n 't'.U TOIWD will be subject to the 1"7 or ... 't'&.lora .... to plQ" Idd boad8 _ 1Irterwt tbeNoIa, v1tbout u.1tatiCD u to rate or ..uIt. :;If" ... bl4 _t be ~or aU of aa14 '100.000 'boDlI. u4 .ta..... . 'lacle ra..... at 1ntereat tbere~ar. UIalee. all _ ore ...,_ tho _ v1U be __ to tho b1_ ~ .ith tho _ of oalo oDd ottoriJlc to J"ll'OhaH .dAl boDS8 at the ].own rate at i.aterut, DOt UD~ tbe 1"ay abon .peo1.t1e4, .tated 1ft . .w.t1ph at cae-quarter or oae-~ at OM per oeartla per anna, without retenaoe to ~., proY1d84. hOIMfW, that it two or .... bid4en otter to J"ll'OhaH oa14 _ It tho _ _t ...to of intoNot _ _ _ wiU be __ to tho b1dMr ott'riDe tho b1Pot~... _ r1&ht 10 __ to ...,1Ot _ .... aU b140 oDd _ 1114 IIOt ~ vith W. IIOtloo of oalo viU be N'_, _ 1114 ...t be ooolooo4 1D I .-loll ....lope __ to tho _...1po4 Supmrt..... oDd IIhou14 be ..rbd on the oate14e "Propoeal ~ar BcDI8' aDd _t be aoa..".......t4 with a oert.1t1ld. or oaab1..t. aheak d:raWIl apcm. III boarporated bent 01" truet ~ to the order or the 'lCMl at Scutbol4, IJw York, tor 12.000 .. a pod to1th dopooit to ...... ..... row ago.l.ut _100. rooult1Dc rn. tho totluN of tho b1_ to ~ with tho t... of 111. 1114. 50 1Dtoroot v1U be ollowo4 OIl tho _ of ..... soo4 totth 4opoo1t;. Soi4 -. ore 1owo4 ~ to tbe Coaat1tatlcD aDd .ta~ at the state of ..... York, 1~""""... .... otben, Cbapter 699 at the Law at 1947, .. ..-114, the TOWll t.v, an4 the Local P1DaDoe Law, tor t.be plIZ'pOH of the eaquiaU;t. at . ~W'l7' ~01' tbe J'1ebeN Iololl4 hrrr ll1atriot. 1D oa14 !OW, tho period of pl'Obobl.o ...rw.-a of vh1c1M.o 10 1"1"". - .totutol7 out.horiv to au ["lab. the object or purpo.. tor wbi. ,aid. boD48 are to be iasued. 18 Chapter iI19 of the Law of 1947, .. -. . 50 40VD ~ 1. roquiro4 b,y 8oot101l lD7.00 of ..... Loool n- JA,.. P1'o'fi.101l t.... tho nllAIattOll of oa14 _ proY1d84 1D title 6 of !rt.1olo 2 of tho Loool r1DoIIOo t.v il boUle .-pUo4 with. In tho __ thot pri.... to ..... 4oU...,. of tho _ tho _ _-' b,y printo holdAol'O rn. - of tho _ t;;rpo IIIl1 _ ~ be to8hlo b,y tho _ of _ h4oI'Il _ to>: lo.. the ......otul h14dor -.q, at hi. elecr\lCD, be NJ.1eon4 of hb cb3Ja:at.10D1 \Dler tbe 00IIltrut to parob.u. the boad8 aDd 1D Iaoh .... the cJ.poei t aa a ,.-"Q"1:aI hill bl4 v1.ll be :retunaed.. Said bcD4II will be dellnred at .., York, .. York. or at nab. other pleoe .. .., be acreed with tbe par- ___a. 1m. _ oppro'rl.Dc op1DiOD of...... v__ 8JIroo. s.oJc1oor . Gollowo;r. At__ of _ y_ CiV. v1U be _ to tho pal'Obaoor vi-.t ooot. _;;.;;;a... UttaottOD oto_ viU be 1Do1_ in tho o1ool.llc poporo. FDWIlIAL _ ---------- The aueased ftluat1<lll at the X'Ml utay aubject to tbe texias power o~ uJ.4 'lawn, ... IIhowD. br tbe lut 0CIIIp1etecl .....-.ut roll, 111126,437,176.00. t'be awnge .....sea wlDat1CD of the N&1 ..tate .object to taxation ~or arlT pIl'pON br aa14 fCMI, .. deterIIiDed bT the laet ~ .......t roll aDd the :tour "ria .... ......-m. rollo 10 t2S.4421019.60. !ho _ of tho 4obt-ocatl'Oot1llc ...pn of oa14 row (1CIDluoi.. of tho -. _ o.t'hft4 tar H1e , .. requ:lrId. to be IIhcnm. on the ~' '-l DIbt Ste:'-at tue4 ~ 1;0 8eotiClll' 109.00, Loooll1llOllOo t.v. 10 tl,!m.861S1. _ totol _ 40ht of oa14 !ow. OlOll.u41Ilc tho -.. __ _. 10 126.000 of vh101l ..... 10 .._ doht. _ popalottOD of tho r.... (l94D Couwl> ... 12.046. _ totol _04 _ -.. .toW _ Dot 1J1o].u4o tho 40ht of _ .- _riolOD horior _ to 100)' __ ..... _ .... aU of the ....-.-~ nbjeot to the tu:1JJC powr ot N.14 'I0WIl. !he:tJ.1Oal 78U" ,. .. 18ll1flar7 L !be.-omrt of taM lmt4 tar MOb of the ttecal. ;,eara It -"-. 18J.1.Gla7 1, 1947, laua1"71, 1945 ad. JIIZlUal'J' 1, 1949, vu NlpeoU~ tl84.896.14. 13l1.066.26 IIIl1 t232.m.23. _ _ of ...... __ 1lDDOllooto4 at _ IllII of _ of ooi4 thool 7MN vu reepect1~ BODe, 1IOD8 aDd JIcDI. 'rbe IIlaOQDt of .UGh tuee ~ UIIl30n.0ted .. ot the date of th1. JIOt.1oe 1. nepeat1'fttJl' ~!.I'" aDd .cae. The ta:xea of the t1H&l 78U" , -Nt.. 18Dl1arT 1. 1950 aa'lIIIDt to t2l6.~.SJ.. o~ vh101l t2l6.4:>O.SJ. ..... _ 0011_. A 4oto1104 Nport of ...-tal tooto will be ...-tW to .., ~ b1dde. Date42 Grr I ~ t....., York IIonIIb8r 15, 1950 __.1lLII'I' ~I'.uI\A PIlO1'OSlL J'lIt IlCIIIIl - 19lO Mr>.. w.:.r.n &. D.1pp, ~:t~, Suttollt ~, SlIperri.eor'. Cltt1oe, 16 ScatIi. stren, Or ~ 1 " ..., York. Door SIr: Subj~ to 'the prorlaiClQll of the ott1c1al notiH of sale, llh10b DOt1oe i. ..se . part of W. propoeal, we af't1l1" to parrohaae 1100,000 I'Uher8 IalaDd Pen7 Dlstr1at (Seri&l) Bcade, 1950 at the Tow. ol'Soutbo14, .. yort, deaaribed in tta14 .--. DOt1oe of eale, bMri12c 1ntereet at tbe n.te of .......................................... .................................................................... per ~ ( .l__ aD4 to PQ' tberetar .......... ... ............. ........... .....'... ...... ... ...... .............. ........................................ ................................................................................................................... ......................................................... Dollare C, l ODd -...od interoo. ~ tbe da.. or oa14 _ to da.. or dell"'7. We _lON herewith oert1t1ed oheok (or ouh1ert, ohea1c:) tar 12,000, pqable to the: order of the 'fCMl at S0uth014, ..., TOl'Ir:, vb:lob obeot 18 to be retw:Ded. to ua it th1B propo8al18 DOt aooepte4, otbuvi.., aa14 obeok 18 to be _ .. lUll! b Uqu1datod "-" in _ .. taU to .... lip lUll! _ tor oa14 _ in ......sa- v.l.th _ .... or tIWI --'- .................................................... .................................................. (Iro _01"" or al__ 10 to be _ to .... .-. pI'OpOMl, ODd _ _ _ _ be _ ~ _ ...- lIDtl.oo or oalo ODd ft-..J. "'-.l --=~._~ . _, ~_~ ~!~ ~_f!l_'!'! ~_~,_~_~,_~_~ ,. or the c10M at the ftoo&l ,... ~ _ 3101>. Orooa _ Dolrt. (1lxIlJ.1t<lioC tbie iesue) a Oooonl_........ . . Spoo1olIll.nr1ate . . . ... 'fOrjL......... LlM. D8aaat1bl.e 1"'- . . . . .. let BcI:lde4 Debt . . . . . . . .. ~ ~ ~ 1950 ~ 12,000.00 . 24,000.00 . 17,000.00 . 10,000.00 . 3,000.00 20,000.00 18.000.00 16.000.00 14.000.00 12.000.00 32,000.00 42;OOO~OO 33,OOO~OO 24,OOO~OO 1$,000.00 - - - - - 32,000.00 42,000.00 33.000.00 24.000.00 15,000.00 21,303,2'71.00 21,684,043.00 22,093,38'7.00 48,129.00 50,018.00 62,l4'.67 30,000.00 31,000.00 )4,007.50 77,000.00 77,000.00 77,000.00 'Z7 ,309.68 32,198.'12 50,063.26 84.00 3,147.00 7,352.00 2,528.00 2,480.00 2,432.00 48,213.00 53,16'.00 &1,497.(/1 30,000.00 31,000.00 34,007.50 . . . . . . . . . . . . . . . . . . b,..Md ValuaUCIUl' ~ tor o..ral _ ParpoHI ......... 24,570,889.00 24,969,026.00 25,403,?02.oo 25,829,305.00 26,43'7,1'76.00 (l)Tuoble tor ~_ 'l'owaPoJ.ioe;...... .. OporatlaC llollpto. o..ral _ . 'l'0IID Pol1oe. ~... . Spoo1ol m.-ate. DoIrt. Sonioo. 0eDIral 'tCNll . . . . Speo1a1 DI.a'tr.lotal. . . . .. Orooa Bodaotol O---.l 'l'CMl . o..ral"l'OWII.. . . . . 8peo1al Dletriotal . . 'l'.-pol'lU'T Dlbta ~ Budeet _ - {Poblio Wolt...) 4/27/50 Iludcet .ate - ~ Ill...."._) 1DI9/5O Copito1 _ - ~ __) 10/9/50 ..B.A... - (ll..-. 00_ _ lII.nr1ot) lIi/9/5O Tatel__~DoIrt.. IIlle 4/27/51 j/1/51 12/19/51 _botlmde4b7Wl11_at_. 22,471,432.00 23,0'77,019.00 62,853.50 ",9(/1.50 77,000.00 51,043.72 7,234.00 2,384.00 10,087.50 . . 10,000 16.000 . ',000 6,000 7,500 91,000 78,402.20 71,880.00 95,000.00 53,399.36 7,W.50 2,>>6.00 e,m.?O . 26,000 lD9.!llIO 11J"~ . ~ BCIID ftDCIPAL MATD'RIJI:1 'JI'l'HIN THB Dr!' TIN FISCAL YEARSI &xo1Dd1Dc 'l'hb Iasue 1'1..01 Year GeIaeral 'fOWD Spoo1a1 DlRri.t Total 1951 1952 1953 t~ 1956 1957 1958 1959 1960 . 7,000 3,000 -<>- -<>- -<>- -<>- -<>- -<>- -<>- -<>- $ 9,000 S,OOO 2,000 2,000 2,000 2,000 2,000 -<>- -<>- -<>- . 2,000 2,000 i!~ .e:OXJ''' 2,000 2,000 -<>- -<>- -<>- ~ Tax Rates per HJ GeDeral Towa. . 1.96 1.41 Town Polioe. 81gh_. . . 3.60 'hx Lni.u, 0eDC"al TCJWD . Tow. Pol.1oe. 48,126.33 30,037.69 76,894.44 29,837.68 ll1C_. . . . Special D:llltriot<<l. (2)1lDcol1octod At _ or I'1oca1 Yeer. . . . . . . . . . . . . . - to Be Paid "'" at _ 1'"T . 9,000 S,OOO 2,000 2,000 2,000 2,000 2,000 -<>- -<>- -<>- ~ 2.13 1.43 3.S6 S3,184.0S 31,008.21 '77,195.28 39,678.72 - Princ1pal of !bi. I.~ (Spoo1a1 DlRrict) to Be Paid "'" total or _ 1'"T . 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 . 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 ~ ~ 1951 2.73 2.n 3.23 1.S/, 1.60 1.65 3.49 3.43 4.12 69,3S2.15 69,997.42 8S,392.15 34,023.88 3S,9S4.30 38,077.16 77,lOS.94 '71,071.07 95,m.3I 52,495.26 S3,427.72 SS,73S.36 - - uxx Ilotea . *Spoo1a1Illstrl.cto totoa -l.1oI1as n... ADd 8chocl Dlot.ricto. (ll Propert,' located 1n the I!Ioorporated. Y1l1ap of Greeport 1. DOt uaeaHCl tor ~ or TOWD PoUoe. (2 state, Cowl,.,., 'fown, H1cbvq 8D4 "moll Pollee, (when appUoable), Speoia1 Dl.tr1at aD4 School 'laDI an 0CIII1:d.M4 and DO bre8lcdown of UDCon.cted 1..... returned to the CoaDt7 of ~olJc tw ~ b aft11abl11. _ ~C!!B!R!D_9'!A~_ ~ ~T!~_ (Totala Ibalude G~ hnd, Weltare hD4, II1gb.wq PaDd, Speo1&1. Dlatrict. J\m4, 'fa:: .... Ptmd &:: Sohool 'lu PaDd) All of the Cloe. ot tbe PUoal Teare Bod1ac o.o..ber 318tr 1946 !2i! ~ ~ ~ Total ........ Bop"""", t4 Tetr. . . . . . 161,93S.3S . 221,785.81 . 196,887.37 . 247,238.78 . 210,064.30 total _1pto. 754,282.38 848,389.36 1,022.51'.29 924,722.69 uxx total ...-. 694,431. 92 873,287.aJ 972,163.88 962,ll'11.17 """" total ........ _ of 1MI'. . . . .. 221,78S.81 196,887.37 247,238.78 210,064.30 """" SPlCD'lll ~1 !be- populatlCD of tile 1'CNIl .. IIhow b7 the J'e4en.l CCUIWI h .. to11cws 19120 - lD.147, 1930 - U.669J 1'llll - 12.046. Tox ~ ... duo CD "" aIIol1t _ lat. _ 7N1". _ total to:< _ be pd4 vi_ poo>alv CD .... bot... 1_ 1Dtb to1J.ov1Jlc. A poo>alv at .... pol" _ pol" _ u -"ocI otter that dat. aat1l __ lat. __lattbAlto:<1'OI.la......-totbAl__. Tox_....bel4a1J1lllOl17bJ'tbAl_at l!IottaU:. JIo priDo1pal or ~t upClIl lUll' oblJaat1cm of 1Ihb l'CMl 18 put due. '!'be tl.cal 78U' 18 .JU1UU7 l.t to ~ 31ft. !!do nport ~ IlOl.thor _ _ ..... to:< __ at _ toJ.lDw1De polltl.col _0101_ -.. _ to 1097 _ _ tbAo pn>porV vitlWt tb1a _. -s>t -.. _. _ of l!IottaU: lac"""","tocI Villap of a.......- Sabool Dlst.r1.ct.z u.r .S.D. 12,4t.... S, 9, 10. ec-m. S.. ]). '" 6, 7, 4, 11, 12, 14, 15. nz.. Dlatri.cw, 0r::I.e:Dt,"" MariOll, n..... :r.leDl, Soutbol4, CU'tohcCUa, Matt1:tuall:, L-V. ProtectId .lne. Ltgbt m.tric,", 0r::I.e:Dt,:rut Maricm, P1abent IelaDd., Southold, Pecordc, Cutob.ope, Mattltuak 11, llatti_ 12. M_ _to IlUtrlot Southol4 Pari; Dlotr1at . llattl._ Pari; IlUtrlot n_ Io1mI hftT Dlotr1at !be "- at 8ol1thol4 10 . poa1Doala looatocl in tbAo ....... ...,.t,h_ port of SuttaU: _ "'"' 10 ..... pIH4 of the arM CD the ..aJ..aD4 sa well aa Plua IelaDd and ft8benI IalaDd.. '!'be 1'<M1 1, vell knc:Nn .. . w.catiClD. ftob1Ds ...art. _ ~ hloM Ro1l Rood ~ 1'O1l tnnopartati... toc1lltio. h<a it. -.oJ. in G...,.....t to tbAo ..-tropolJ:ta aw.. ... Toft: State Roate 12' tra....... the !'OIIIl aU1a&' an11able nn. mtor tn:nl taoW:U_ alao. 'DIeN 1a ODe 1Doorpore.ted rl1lap located with1Jl the '1'ow., ~ the T11.1eIe of Onmport.. _~~_8!A!~!!_~_~_~~~_ IIlSCIlIPTIlJh n..her8 IalaDd Ferq m.strict oCllpl'iMe J"J.IIher. I81aD4, aD. ialabd. 1Ilb1oh 11.. to the north....."t at Or::I.eat Po1D.t, Loag IalaDd, aDd .CIU'th of IIev LCJ04CD, CcImect.1ctXt, '!'be pal'pON ~ the Dlftriot 18 to operate a hr'rT Nrrlce betweeD 11eheN hlaD4 aDd. ..... Lc:QbI, Cc:laDect1cut. !be terrr .. pr:l:n:te4 ClIWIlfId untu War14 War n, aen1.ce hariDI 'been becUD. in the poet..C:l't'il War per104. (be boat, IITbe l'1.hen I.laJld.- Val 1D operat1C1D. The boat vu ,014 to the U.S. I.rtq ad. tbe A%fq rua the Mrrloe, the boat be1Dg reD8JI8d .n. Col. .rabBI. ~ to prori.cle t.raneport&t1ClD tar pRaClllllel at Port R. G. lIright, looaW on I'18hereItllaDd, sa vell u the 100al ~deDte. 'l'he hrr1' Dl.tr1ct vu t..- paroIlal1t to Cbaptor 699 of tbAo La"" of 1947..... _. at tbAo stat. of _ Y_ "'"' h<a Ilq. 1948 to Ocltcbw. 1950 oporatocl tbAo beat "!be 001. 101m I. Bozter"........ boat .......... ""'" tho U.S. ,,-. t'h. operotiCD of tbAo beat prond GpIDSi" aDd . lIubet1:tvte cn.tt. to 4et're7 the cost of W1cb tbeH 'bcod8 an offered. tor ule, vu obta1Ded. '!tlU boat, bII11t 1D 1940 1. of vel4ed. .t.el CCUtruaUClD,about 110 tMt lcqr, ha"l1ng . capac1't7 of 300 paueapr8 ud. 18 ftbio_. Seftral VHIr8 of operatioa. ban 1Dd108ted ~ _t.1atacto1T redb. '!'he hrr7 aen10e 111 dtal to the lIXi.tenoe of the 1.laDd .. a popular .-r :Neort. Alao... -.11 b carried OIl OClDtraat f'rca the U.S. Poet ott1oe u4 1're1ght 1a WO tranepcll"t.a. Bmept tClr the air tn.vel taciU:ti.. of the ~ located aD ftahera IIlu4 the terf7 11 the c:aq ...... of &CoeA to the -.1nlan4. At preeent. the terrr UII.. tIoo U.S. _ dook but ..-.l. __ __ .... aoollobla. '" _AI. SfA!IBrICS CII TBB rISBBIIII ISWID PIRRY DlllTRIll! (CoDtiDaod) -------------------------------- '!RBlIIe1 Par F1ecal Teen Bbd1Jtc DeceIDber nata ~ ~ 1950 . ..0- ..0- ...... . . 3,109,632..00 3,090,-'36.00 ',1ll,604.00 10,013.02 20,026.03 20,007.61. . 3.22 6.48 6.43 BoDdIdDebt..................................... .. be.... Valuat1aaa 'l'axahle b;r tbe Purr D:l8tr1o't. _t__.....,.. _Rate perll... stat.nt at ~t1cruu J'!..bRa Id.Dd 'hrI7 JUDd Ilt Balance Bec1mdJIc of Tear Rece1p....a I'roJ>o1V -. TraDater t'rca l'\md 12 .............................. .. Other _pta. . . . Totel _pta " su..- _te, Trarla_ to ruDlll ou.r ~'tII. .. Balanoe ID4 of Year. Toter _te " BalaDoe n..-. IlllaDd -.,. ruDl Il. " BalaDceBeg1.JmiDcotYur................................. .. Beoe1pt.: J'111ber8 IslaM FerrT ~ptI. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. ..0- 917.'9 lO,229.03 10,013.02 20;026.03 20,007.61 3,000.00 ..0- ..0- ..0- 1,612.46 ..0- 13,013.02 22,'56.08 30,236.64- 8,500.00 12,000.00 ..0- 3, '~.43 327.0' 4,608.09 917.'9 10,229.03 2',628. "* 13,013.02 22"~.08 Xl,236.64- ..0- ',899.46 U,02O.73 87,688.73 129.662.07 89,904.05" 1'rane1'era tr<:a 1'und 11 8,500.00 12,000.00 ..0- Toter _pte " Balanoe. 96,188.73 147,~." 104,924.78* _. Operaticaal ~, oto. 87,289.27 132,"4D.8O 88.432.470 _on to ruDl 111. 3,000.00 ..0- ...... Ba1anoe Bbd ot Year. .. .. ',899.46 15,020.73 16,492.31- 'fotal PqIIenta It BalaDoe 96,188.73 147,~." 104,924.78* *u at Sept.aber 30, 1950. CONNECTICUT /' ~ ~~~ Ml',.... THE TOWN or SOUTHOLO SHOW".. T... LKftT....,., F.SKERlI ISLAND AND "'RRY TO NE.W LONDON r 1 NOTICE IS HEREBY GIVEN that' conducting the sale and awarding).- I the resolution published herewith the bonds, are hereby delegated to', has been adopted by the Town Board the Supervisor who shall advertise: of the Town of Sout~old, in the such bonds for sale, conduct the sale: County of Suffolk, State of New and awarP- .t-he bonds in such man- I York. on the 3rd day of October, ner as l1$.",~shan deem best for the I 11950, and the validity of the obli- interest~3i5f sai.d Town, pr~vided: I gations_ authorized by such resolu- however, ji.that In the exerCIse of I "tion may be hereafter contested only these dl!legated powers he shaUl 'if such obligations were authorized comply fully with the provisions of I for an object or purpose for which the Local Finance Law and any or-I the Town of Southold, New York, der ~r rule of the State Compt~o~ler \ tS not authorized to expend money applIcable to the sale of mUnIcIpal \ )r if the provisions of law which, bonds. The receipt of the Supervisor 3hould have been complied with as' shall be a full acquittance to the I ;:If the date of pUblication of this purchaser of such bonds who shall notice, or such obliga.tions were n.ot be obliged to see to the apPlica-t. plied with, and an actIon, suit or tIOn of the purchase. money. proceeding contesting such validity Section 7. The faith and credit of 1 is commenced within twenty days, the Town of Southold are hereby 'lfter the date of publication of this I pledged for the payment of the prin- 10tice or such obligations were I cipal of and interest on said bonds lUtho;i'zed in violation of the pro-I as the- same become due and pay- Tisions of the Constitution. ' able.' Said bonds shall! be payable RALPH P. BOOTH, in the first instance from a levy Town Clerk i upQn all proper1::Y within the Fishers I Island Ferry' Diitr'ic.t, but if not BOND RESOLUTION ,DATED paid from such source: 'all the tax- OCTOBER 3, 1S50 able real propert-sr in; said Town A RESOLUTION AUTHORIZING'shali be subiect to theannu..1 levy THE ISSUANCE OF NOT EX-Iof a tax sufficient to' pay the prin- CEEDING $100,000 FISHERS'cipal of -and iriteve:st on" said bonds ISLAND FERRY DISTRICT1 as the same becomt! d'tle aM payable (SERIAL) BONDS, OF THE without limitation:., as'- to rate or TOWN OF SOUTHOLD, SUF- amount. FOLK COUNTY, NEW YORK, TO: Section 8. It is- -hereby determined PAY THE COST OF ACQUISI-11that no obligatit)F1s other than the TION OF A FERRY. bonds authorized ,by this resolution WHEREAS, pursuant to Chapter have been heret.ofore issued :by said 699 of the Laws of 1947, Fishers I TGwn on behalf of said. Fishers Island Ferry District of the Town I Island Ferry District and that the ~ of Southold, Suffolk County New total indebtedness authorized by this, ' York is authorized to acqui;e op-I resolution plus all other indebted-i ~ i erate' and maintain a ferry for 'ferry! ness .her~tofore incurred on ~eh~lf i ! service from convenient points on of saId FIshers Island Ferry DIstrIct. , I' Fishers Island across the !Vaters of does n.ot exceed $100,~0~. ! ~ Long Island Sound and to the ad-I Section 9. The valIdIty of such, ~ . jacent waters or attributary thereto. bonds may be contested only if: I ; l to points within and without the! 1. Such bonds are authorized for' C II State of New York" and i an object or purpOSe for which the WHEREAS, such Fishers Island I Town of Southold is not authorized I Ferry District has been duly created I to expend money, or : 'pursuant to such Chapter 699 of the! 2. The provisions of law which ! Laws of 1947 as amended and it' should be complied with at the date . is now desired to purchas~ a 110 I of publication of this resolution are . foot d.iesel passenger ferry known as ,not substan~ially c~mplied with, the "Mystic Isle" from the Erie I and an actIOn, SUIt or proceeding I:::les Ferry Company of Middle Bass: contesting such validity is com- Ohio' and ' ,menced within twenty days after the 'I WimREAS, the estimated pur- ~ date of such publication, or chase price thereof, induding inci- r . 3. ~uch bonds are .a~thorized in dental expenses in connection there-' VIOlatIOn of the provIsIOns of the '.With, is $100,000; NOW, THERE-I Constitution. FORE BE IT I Section 10. This resolution which 'I RESOLVED, by the Tow~ Board: take~ effect imm.ediately shall be lof the Town of Southold, Suffolk! publIshed in .full III THE SUFFOLK I County, New York, as follows: I TIMES.. a?d III THE LONG ISLAND 1 Section L Pursuant to Chapter 699 i THAVEL~R-MATTJTUCK WATCH- ,of the Laws of 1947 and on behalf I MAN, newspapers of said Town, to- : of the Fishers hiland Ferry District, i gether wilh a notice of the Town I the purchase from the Erie Isles: Clerk in :mbstantially the form pro- IFe.rrY Company of Middle Bass, I v~ded in Section 81.00 of the Local Ohio, of the 110 foot 8 inch overall. Fmance Law. ,( diesel driven. welded steel passen-I I gel' and auto ferry "Mystic Isle", . said "Mystic Isle" having the fol-; . j lowing registered particulars: Official! INO. 242,004 - Length lOiS' - Beam I 32' 0" - Depth 9' 9" ~ Gross ton-' I nage 431 - Net Tonnage 361 -' Triple Screw Oil Passenger, at a total estimated cost, including inci- dental expenses, of $100,000 is here- by authorized. I Sectio.n 2. The plan of financing .1 such obJect or purpose is! by the is- ,I sua.nce of not e.xceediug $100,000 1 senal bonds heremafter authorized.; : No down payment is required since I 11 the cost of such improvement is to'- l ! be assessed upOn benefited property ,within the Fishers Island Ferry Dis- >1' trict, an area smaller than the area of the Town of Southold ' , Section 3. For the purpo~e of pay- I ing the cost of the aforesaid object I Or purpose, there are hereby author-; iZf!d to be issued $100,000 serial I bonds of said Town, each to be! designated substantially FISHERS j I. ISLAND FERRY DISTRICT (SER- ~ ,IAL) BOND, 1950, dated October 1 . : 1950. in the denomination of $1,000 1 ,each, numbered from 1 to 100 both ~ I inclusive, maturing in numeric~l or- ; del' in the amount of $10 000 on i October 1 in; each of the ye~rs 1951 ,to 1960, both inclusive, and bearing interest at a rate not exceeding five ,per centwn per annum payable i semi-annually April 1 and October I ; 1. Such bonds shall be in bearer . coupon form with the privilege of I ,conversion into bonds regIstered as I ; to both principal and interest and I I shall be payable as to both prin- I cipal and .interest in lu\v1Ul money of the Umted States of .America at THE FIRST NATIONAL BANK OF ,GREENPORT, in Greenpol't, New ! York, which by contract is the pay- I mg agent of the issuer. Such bonds shall be s~gned in the :name of the I Town of Southold by its Supervisor and sealed with its corporate seal attested by its Town Clerk and th~ I interest coupons shall bear'the fac- I simile signature of its Supervisor. Section 4. All other matters ex-: cept as provided herein relating to! I such bonds shall be determined-. by I I the Supervisor. Such bonds shall . I contain substantially the recital of ~ I ~:~~~~t; ~<)c~~us:~ ~IZ~oV!~~d. !~r inl 1 f ss: J :l:.l.~"""-""'f!C"~...'-=-"'-\.....";,,,;,,..:-r=........m..., being duly Sworn, says that mu:.u\~mm is Printer and Publisher of the SUFFOLK TIlVIES, a newspaper published at Greenport, in said county; STATE OF NEW YORK, COUNTY OF SUFFOLK. and that the notice, of which the annexed is a printed copy, has been published in the said Suffolk Times onee in each u.u.c...\C~_. mmuumum. weck~ successively commencing on the uS.~.","~.mmm mmmmm day of mC:::s:..~\"u~u""u.u.mum 19..5":':'00 uu1:,.~u~~ \1 _:.~. . ~.u Sworn to befre me this ..uu1t:k&..mmml .. _r f day of Uf~7r.u.mmmmu.z=uJ.. ~ _mJ ;::A,,;~sf~:~:;:;.;.;~;~~;~...u..... ~ \. Cuo,. I'.. ' , cu., 1\'. Y --..,,'211 . - .~.' J'))' ',-, . " ,if(. .\farch .'30. 190 ;" v week, for moo r TlON 'O'F' 1< Fl'RRY;" WHEREAS, pursuant to Chapter have been 'hereto! issued -by said ' 699 of the Laws of 1947, Fishers! To\vn on behalf f sair~ Fishers i: Island Ferry District of the Town I Island Ferry District and that the \ of Southald, Suffolk County. New total indebtedness authorized by this: . York, is authorized to acquire, op- j resolution plus all other indchted- I crate and maintain a ferry for ferry I ness heretofore incurred on behalf _I service from convenient points on of said Fishers Island Ferry District :, I Fishers Island across the ~aters of does not exceed $100,000. : ~ Long Island Sound and to the ad-I Section 9. The validity of such,' jucent ,vaters Or attributary thereto bends may be contested only if: I . t to points within and without the I 1. Such bonds are authorized for' ~ II State of New York; and 1 an object or purpose for which the WHEREAS, such Fishers Island I Town of Southold is not authorized j Ferry District has been duly created! to expend money, or i pursuant to such Chapter 699 of the i 2. The pr.ovis.ions .of hw which ! Laws of 1947, as amended, and it should be complIed WIth at the date I is now de!'3ired to purchase a 110 of publication of this resolution are foot d,iesel passenger ferry knov.m as, not sUbstantially complied with, the "Mystic Isle" from the Erie: and an action, suit or proceeding Isles Ferry Company of Middle Bass! contesting such validity is com- Ohio' and ' l menced within twenty days after the ~ " WHEREAS, the estimated pur- i date of such publication, or . chase price thereof, inclUding inci-I . 3. ~uch bonds are authorized in dental expenses in connection there- I, vIOlatIon of the provisions of the , I with, is $100,000; NOW, THERE-I Constitution. FORE BE IT 1 Section 10. This resolution which i RESOLVED by the To~ Board: takes effect immediately shall be j of the Town' of Southold Suffolk i published in full in THE SUFFOLK l County, New York, as foilows: I TIMES, and in THE LONG ISLAND j Section J. Pursuant to Chapter 699 i TRAVELE;R-MATT,ITUCK WATCH- lof the Laws of 1947 and on behalf 1 MAN, newspapers of said Town, ta- lof the Fishers Iiiland Ferry District,! gether with a notice of the Town II the purchase from the Erie Isles! C~erk i.n :;ubs~antially the .form pro- Ferry Company of Middle Bass! vlded III SectIOn 81.00 of the Local I Ohio, of the 110 foot 8 inch overall Finance Law. f .j diesel driven, welded steel passen- i j gel' and auto ferry "Mystic Isle" "said "Mystic Isle" having the fol~ I .lloWing registered particulars: Official ~ , I No. 242,004 - Length IO:i' - Beam! 32' 0" - Depth 9' 9" - Gross ton- I . J nage 431 - Net Tonnage 361 _ Triple Screw Oil Passenger, at a totnl estimated cost, including inci- dental expenses, of $100,000 is here- by authorized. ' . j Section 2. The plan of financing .1 such object Or purpose is by the is- .l sua.nce of not e.xceeding $100,000, 'I senal bonds heremafter authorized.; i No GO\vn payment is required since, t I the cost of such improvement is to,- ! ! be assessed UPOn benefited property I . j within the Fishers Island Ferry Dis- I 'I' trict, an area smaller than the area; . of the To\vn of Southold ~ I i Section 3. For the purpo~e of pay- I ing the cost of the aforesaid object I Or purpose, there are hereby author- i ized to be issued $100,000 serial I' bonds of said Town, each to be; ; designated SUbstantially FISHERS' 1: ISLAND FERRY DISTRICT (SER- jt,IAL) BOND, 1950, dated October 1 . ~ 1950, in the denomination of $1 000 ! i ~ach, .numbered from 1 to 100, both : InClUSIVe, maturing in numerical 01'- ,; der in the amount of $10,000 on ; . October 1 in, each of the years 1951 : ~o 1960, both inclusive, and bearing mterest at a rate not exceeding five t i per. centum per annum payable I semI-annually April 1 and October! , ; 1. Such bonds shall be in bearer I coupon form with the privilege of i conversion into bonds regIstered as I' ; to both principal and interest and! I shall be payable as to both prin-I i cipal and .11lterest in lawful money of the Umted States of .America at THE FIRST NATIONAL BANK OFI i GREENP<?RT, in Greenport, New I \ :(Irk, whIch by contract is the pay-I I mg agent of the issuer. Such bonds: .shall be signed in the :name of the: I TOwn of Southold by its Supervisor and sealed with its corporate seal attested by its Town Clerk and th~ linterest coupons shall bear' the fac- I Simile signature of its Supervisor. Section 4. All other matters ex-: cept as provided herein relating to! I such bonds shall be determined. by I the Supervisor. Such bonds shall . I contain SUbstantially the recital of! v&lidity clause provided for in Section 52.00 of the Local Finance Law and shall otherwise be in such form and contain such recitals in addition to those required by SectiOn 151.00 of the Local Finance Law as the Supervisor shall determine: . Section 5. It is hereby determined . that subdivision 26 of paragraph a i of Section 11.00 of the Local Finance '.Law applies to such object Or pur- I pose and that the period of prob- &ble usefulness thereof is 10 years computed from October 1, 195~0 n~ ~:}Qnd :mt~cipation notes having been lssued pnor thereto. j Section 6. The powers and duties . of advertising such bonds for sale, ~ . ...-. -~. . . ("II "TER 10' r "mt: '''\-It (' I"'T ,re 'CT" CRE~TINQ THe '"""J:~ IS ...NO ." .'lV Or.5T I("r ,~ 'H!:If1)IEO BY r"lV 1 J: 't 11 r · TI'!' ., ( I..... CIf ' , TI:l\ ,'. (t TIn '''I c~ 1160 .. If') r,,, PTrR II THE' ,AWS ( 1111 AN ACT .ulnnrlsla. th. 1><.'-<o.Il.l'loD, frr..lruct..,n. e,,,lp..e.,1 and c,.r.1 on " f. ~ub Ir terry for h Ira fr"m .111.1"1 1. 111-1 ller .. ....l.r.,.,r '''I I. !1ft" IQ-md; alllbl'lr'lll .C lhe (:r..I"" < ( "t."." la ..d rarry dl.trlct 18 lb. .".... ,r Sc,ulh,..ld. 5ut',,'1I CQUJlt, ""d prnv,dlnr for tn. .'.<-tlrm , r Ita .,rr c.... aDd maM,..lnt p( ,." .tr.tre .U twrhll., tile <'c. I<,tle" ot (.rrta,. cUrt*': "ut"r...1Slnr tn_ \."u.nCI and .. . , f 0,," Lc~H~. f .del tf 'Ill and 1"<,,,..1111,,, (or Ihelr plI me.'. aulhnrl.lar Iftl '..,.. an" co eC'."R .f t.... ~nd pr""'''I,,, ,- rIlle.. I'll ".,i ...tt.r. Becllmea'."I'nrl\1.t'4r. -."Ihe",pr',,,, .'I\f'G.)v.rD"" (....<1. Ullra.-tlnu b.l", 1'1"....1 , . TII. P.",p. ':If tblStal. r K... Y ..lL, ...P.....,Il.d 'n 8....1. Ilnd ......mb'.. df) eftA("t 'I. r 1.''': ....u("l! 1 Up"o plttl'l . .. lteraLMn.r prt"Ylohd, tlM \.._ \)..",..1 ", 1M ,(,w.. ...r !,'u'''''''''', !.."c'" eouR!y snay .tt.r. Dub II: lle.r'lII ..u. wnh III. permi..kn (.f I". .tata e"1lDJ"lrn .... ..t.b'..1I tI,. '\lIll... t.rrlt..ry !/If Ftoe"'... la'aa4 I. Mid 1'-_. ..c'Il.I". (If !I',-r! Wrlt"l . pab' ,e r.rr)' dt.trlct. \0 ~ I<II"WO a. ,Ite "1....... .. IIl1d 'erry dltlrlC't, S"ell petUlon." 'be elln.' by 1M .,....... of ta'fAb . ....1 pro,..rtr .Uaat. III tlM pro""." 'wtriet, (''''1nI11l t". anrept..1 ..., (In. ba'f ot I". II....... ...IIIIIU.. 01 all .. ~I. ....1 pr.papty ot tbe prep." .a.t11ct .. 00_ ~ tJw la'_' HntI'l.... ......meM roll of _Y t,,_: p........,. u_u..., tlla. tlla ".&1H_..1l i_'''' ... .~...... of ....1..' _.... -bII ta~'. ....1 ,repel't]r ...,....e... a' 1"- _-baIt ttI tile ........ ...luaU. of .IIC" 'a~'. ....1 orapeJ'tr. Allot ,he proYWiou of artlel. '_1_ of Ute eo_ la,." ... ~...... wttll .... proyWu.. of Ulla aee. .llan applr to Ule &." "".... ~ aM o~ntl_ fII ..e" .latrlclt. II. ".. elajH' &ItCI pur~oH ...".be ~, ....1' 1M to ....... UA..._l. ...tp, openta aM mai..iJl a public f.r't'7 fo.. tM t.........__ fw Idre at . . . ........ .....,.. ... ...... -..-... ....re....... ~- C._nUw:' .. Fill.. U ...... ...... ,... ...... ., t ... "I'" ...... ... ....... ... _,... . t~".rJ tMnto to ,.. . I .tlldJl... wS~ Uw ..... r.rr, _, 1M ...,.U.. 10 .. .... Fl...... Ie,.... r.rT"f. A r.~ .jee' ,.rp'" fill.... ......Iet ..." ... Ie a~u-. -,. rtft. p-....... I..... .iJ'port C'tI' ....Iac ".Id .t,..... ~.. "'t'Mn JalaM. a" to ope.... aM .. ..Il .Irport. II. ,.... to_ ~ oil. t._ Gllollt~" ilia)' coutrlMlt FlaMn 1'1I1'" .....,. ........u-. all ~.. aM ctlMr ....... ... apparu--... ....n.....,. MttMort.. tM "1II1ft......... or'M ......... '0 let 'Ile .......rJ O~I or ....Ne.. ,......,.... Tile.... INartl fill ..... ..... "')'IU\I1... aU ,..... rtctata or ......l 0, la 1... _......,. I... .... IN..,.... 01 ..... I.....,. ... wllb 1M approwt of the .lIparblta...... of p_l&c woI'U -,. .net · ..... ,.IM .NO...... mal....... wStIWl .... lla." or.., p-'" 1aIP-,. aU M'ae... .P'''- ~... or otlMr ....p.... aM ......tune .'."Inll')' I. .... operatlea 01 the l.rrJ. ,.... to_ It..... .., aleo ae1" ria..... ._Mtuhlll" 'o...tnet wSua a'".... ....... ... .,er... or a eIIrpon'lclD lor .... ...~1'...1 fit .......... at.... l.rI')'.'" ..... ,.~... ~~r.'" ~ 1M mtduall)' ........poIl. pI'O"rided. tIow.y,wo. Usat..,..... ".. ...... or ,...waI ........,..11 .. 1M f... a ,.rt04 Inll'" .........,..... IC...... fer ..u ....raet .ball 1M ........ as .........ner pro...... ul... tM t.... ... pnn..... '......,..n __..... -.pr..,.. ~.... Iowa ~ M.. -1" ..It ...11 1M let ul... ...Ied ....,..ttt.e It... ..n 1M". ftret .... nu..... .. .~ wltla IIOtIce of ,... .... aM ..... wi .... .....Ipt ., ..... ..... ..bAcia lloUcta ."11 1M ,........ fa . ......... ...... ......, .~ .. tM t.... ad""" .. a' ,.... tift .-pJellOUl ptaoa .lUda 1M ..... M at I.........,.. Mfore 11M "rl .. wi.... ~.... c~. All.... neai9M ."'11 1M 0,..-4 fa ....Uc at tbe ,....... p.... .,....... ~ 1M -1- I I. . . ftCttH. TIM tOwt'l ~d or e=" commle.lonere. If auth,.,rlaM. lNIY aCl_pt or ...~t aay IIhl .~ may a_rd a cOlltraet te tb. bWder .IIOM MIl la ct_metl lDnat "'"orabl. to tbe dwtrlct. 14. TIM' cost ".r a('quleIU"", ('fJ_trl.lrUon and ..ul, ment or tile f.rry. Inchadlft( I_da and r~..ta ..r ..a.m_ta hl luda. abal' .... pal' from the prOC:..M of town "bU,atS..... to be lalllled and a(1 d Itt tll. maaner pro"tdeli by \be I~I f_.ace 'a.. The to_ ~r" ('f tl'.. '"..n .r I\outholli may berr".. tbe amount nMded for aueh pur~.c.a.a aM laav. to_ "bl1iatlou u.....ror lD _ ........t. principal amount Ilot n._~UDl .;;ae bundrecl UIooIIUId ISoIl.ra. lJpoII tM alloptt~ GI . ...a,,' l.t1f'D b1 tbe t.... bt..rd. aubJect to a ~...w.tn rer.n W- ~ tM 0"'" "f taxable ....1 p...pert,. altuate ....thla tM "I'I'J .~ .. .hiD.. ~ ~ 1....1 COlllplet.d ......In.. roll of aaid te-. --. .......... prt8elpel ._"at "Mdt tbe to.. ~rd may borrow ... tor ......tt dU,.U" _,. M ...... --, be ........ lei -,. amnlllll ap te .... ... _.a"'" tM ._ of two IIIIIncln4 t~ .,11.". II. 'I'M affatN ., die dwtrtct ..ll be ..er 1M jurlMJcUoa. ......1 ud ..,."wa. at . ~ ., "" cemmi..s_n. ".. to.. ~ ....11 .P..... n_ ....w.. ta.peyere of tM dtatPtet wtao ._11 Cl__tttlda the It. U'4 util tMlP ._...... ar. elected _4 ba". flU&ltne4 p... .- &0 .... .......-a.t ., tllia act. 1_....... to 1M _III...... _ appojDt" .." M .,.....s ~ eM .teet_a of tbe 41atrkt .. bertI_ner p.....l.... n....... . I Cl_~.l_.. ..II ..". 1Hl- ... It .hall M tM dlIt, 01 ...... eOIll.m1a.1 n -nl ea) T.... .tA" or cauM to be .....pare4 ... to edmlt to \be tGwa ~ ., 1M to.. of ~l" ror appro_I, pI... for tM a~la1ta.. e...trwct....... -.uP-- 01 tM terry: (b) To h1perYlae tM c~r.t'11oa 01 &II)' .e-rtl. or IIIIpFCftmea1a e .lU. _ltIt ~ terryalld make report. tlM...~ treat ti_ to t1_ .. tbe t... ........ .." ra1"t"l -1- ... . . (.>> Te _.. Jui8GcUea, celltrel.... ..peI'YlIIlon 0.... tU lerry .... t. ."ent. ... ..tata.. 1M .._; (4 Tr peN..... loll ..e......' t_la, _terilll. aAd ..ppU.. ..... ler t. pro,... apMe, .t tt. ""r)': (a. ...,... to ap,ro".' ~, t1M t... ~... 01 Ut. towa. to ".1' lnto eeetracrt. 01' I..... 101' .. pel'pGlI" 01 tM '.1''''': (n IlIb,"t to tM ..ppr_1 ot tIM te.. ~ cot the tOW'll, 10 ....poll'll &nil at pl__,," .....ow . m-"",._ .... ._b eUler .mpl""... .1Id ....lIItaDt. ... UlA' M .ee....,.,. t. _ny olll .. ,...,..... .1 Iltia .et, .... Ilz tM.r eolft,..-tt_: fI' SPJecrt to tt. apprOftI ., tU Iowa Hard .t tbe to-. to pre.a'pt. aDd ..,.. aIId floo. tt.. to time ..... ...t.. .... .....1.UGlII8 Iw..'.~ .. o,....U... .1 Ule t.r?71 (11) T. na aM Ou.lI, wlUl .... Apfoh,...1 01 tbe te........... .dtaet tu ......._ta wi'" ~ Itol...... ... h-o. time to tt_ .....Cl. or ........ tbe ...t.. of ferr"" c....... to'" C1011ected tor'" t.....portaU_ ., ,...... .nod 01 ..Iliel.., ..... 01 leMa, _........ .........111./ fQ Te na tbe da,. .... bOIl'" dun., dleII tbe larry lIball ... eperate4 aM e._ lICItic. ......., to ... pGlIl" .t .11 .1It...... to the ".-r1'1 (j) To ~ ... It.." poet... I. cOM,tc_. .... .......... pluee 0lItaYe ADd adtac:eet In __It ..va.. 10" lePr)', la "I.ta riaw .,.. paM ,ra llpea auek '.1'1'7, .. lIe......l. ,I."', priJrt.. IJl eM E..I..ItI...... "'.. rat.. 01 I......... ....... to ... .o\leete. fer traaaporta.... ..... ..... ......'1 f\l) T. _...... ...re_ ...It .....1....1 po...... ... ...... ..1.... te.. c:.peraU-. _late_. ADd ..,-kMp .1 tM ,.,.,., .. IDA7 ... ..I...... to ..... tl1 .... to_ IKlaN 01 tlac te>W1I. 1.-&. n. to.. buerd 01 11M 10_ 01 __....leI ma1 "C4pIIn ~ pft, l1'are__ or ,..... .. IMbalt 01 tM 'cPr)' ''''riet. ... a!rport or I--~ fie,. -4- . . ltuated Oft "'lahere !alalad. aftar a publiC: bearq hald In lhe ..ma mannar cS up"" the sarna noU.::. as ln lhe case of lhe .atabllahment c4 the ferry The notlee (,r b..ari118 eull etate ,enaral!J the :oW"pose d the d...cr1be Uw real prot'erty te. be ac:qulred and tbe utura or such cqulaltlnn. ap..,dly Iha am"un' of 'be cODal~eratlo., \<; be paW merafer nd the time ..hen lln,,! place "b.ra sal" to'Nn l>~rd Nt' m.et to ccul4er th. rovoeltlron aDd t" hear ai' pfPrllNlII ln1arested In tbe aubjeet tbereof ccaeera- .. tl\.lt ..nae. Aftar .uch beartftllUld ui'o" tb. e.lclfoncfO a~uee4 tbereat. be to_ beard ..11 ptermlDa by r..o!utlOft whettHtr or DOt it ls In the pabllc latere.t to a~ulre ..eh real propert, In the manner and upoo tlM teraaa .tated 111 the IlOtloe or ....rt... If tbe towa t>>oari llha ' d.termin. that .ueh qulalUoa la In the ru~lIe lllter..t. It ma, pr,eead \0 acquire .ach real prnpert)' 11I the .peeln.d mal\JMr and llpoft m. .;,.eltl.d \tIraaa. ~ I-b. ....h.. _)' such airport nr la~" ".~j ahal, _.e Mea so ~,"red. be tow" board ma, del.,.t. lurladietlon. eontrol a~ sUjArTlal.., c,r .IIC~ irp(lrt or la"'. neld to the board of f.rr1 dlatrlcl cOID1llP.lo_re. The of ferry 'latrict ec>maala.ioIIara -,: (a) Eqwlp. _lat.". repair aad ope rat. such airport or laad", nel'. RIt ..~,.ct to tb. ap~ron t or the tn,", board crf the to... ado~t aad a..lId from U.. to time, rul.. .... ....uI.UoM loYernlDl the operaUoa aad .... 01 ._h a1rvert or 1&IldlDt neld. (e) Frayt" .IICl. M...tc.. .nd rselllU" .. a.-. 1I0USl a'" blctdaotel t.IM ~rettoll of a. .Irport "r I."dlac nel'. .Dd nx. tre>m tbae to tlm.. the t.... cba...... ....tal. or olb." eMletd.ratlC>ll for the r.nderl... of .uch .....lc.. aDd tba 118. of sue b 'adlU 1... lei) Graat lie....... e..-ee.sltea .... prlvll.... aDlS Mil .pACe and rent premlae8 to .ucb IIrantae. anJ Ueen.... for tlaf' c-arry;nc (l01I of tbe bu.luaa 01 furalabllll ..r.le... ..pl"l.... ant.! mat.rtAl. required for tlla _I....... -1- I!. I I I I . . pair aDd op....tion of .irer.n .1IIi .well aUaer Arne... "W"I'''...Dd t.rlal. reuoubly _....r, or _Idental to tbe operatl"" nt ..dl alrp<l1"1 la..sl.. nel.. (., COlltraot at tM ...p.ne. .,r tll. rerry ,1I.trict rr-r I....r.ac. Indemnify I", h. r.rry lilatriet. or the town. or b<>th. .,.tza.t loea .rlal". rr"m lnJarlee o pen~ or pro,.rt1 arlal.. ,",ut .r the ra.lat..,....... .ad op.raUCD <:tl .ucb Ir.,oFt t'r laDJ1Jll fl.ld. (0 Cau.. terry cU.trict pr<>"-"1 tc, be ....unod ..awt lc.a. or tlamat. 'rom Ire or ot"-r ha...... <II '.... ..oll portlna o( the alr;lort or !antltac field not reqalred 'or irport or Ia..s... neld ,JUrpoM. 'or IUtJ I.pl ..".11... ~'ur..o", Tn. .drew. of an,. po_r authorla'" ~ paraara"ha Cd) .ad <a) of UU. .ctlOft .hall be aubJ-ct t<, the .pprco".. CJ'tll. t"..n &Cl4Ird aft.r .. J>'Ibllc: rllll held by tb. bNlrd ef terr,. C01!lIDWaioll.ra. Notice of .uC'b public rl.. aball atate I.aerally tae Jlu~ t.Newt. deec:riM brien, the t...... r tile llee..... C(AK......,.. prt.,n..e or leue _d a.,-elf>' tbe Um. ..... and lac. .hen tM board c( '.rry commla.lnear. .m meet to caaaW.r tlM M.r all \..raOfta tat.nateel lJI tbe .ubJefl Uaereof con- .1'1lJ.. tM __. Sueh poUce .hall M ~Uahed aad poet" tJl. tbe ..11M u.er .. In U1. ea.. 01 .... ..tUllaa.m.1Ii d t-" f.rry 4latl1ot. A!: ....,~, of ....t.oe..r ~1nd or _tare, ami.. out or tba maJata ..... u cperatlcn c>l ._at .I~rt "r lad.. n.ld, ....1\ ... .... pro;..rt, of t_ erry c:U.trlet, ..ct ....'1 be t....ted III tba .._ --a_I' a. pr_erilMcllD .eU",,, ... beNe'{" to f.rry r.'n.l~... All ccoeta, .X~.M.. aDd l~tllU_. Qf wha'..,er kind or ..tare. ..bet_r 'ort or e~atr.et, ariaillc OGt I'ff UIe <>_rahiv, malateaance a.s Qf4rattoD or .ach a1r~lOrt or 'aPllblt rte,. ....11 be ("bar... ........ tbe '.rry lItetriet aJHI paid oat r:rf terr1 IUatrlct hlllllSe. n.. anDua' e.ttmat. requIred tc. be mac:te by the bc>&rd of ferry dietl'let I I :I II -.- . . . omml.al~r. pur..,."t to ..dlan t.. lNrf1'" .ha" include anUcllAotH .... alllS tl'1Il.endttlln. arl.lni ,\:t or tbe ew".r.'tif. matnten.llcl! and perattoA vr .each atr~'(.rt t.r i.n,lh'l ".od. ,.. A.' ft'\Qne7B r.c.t..." trnl'r' 'prrl.,a chaf'"ids ..ha btP derotllteoJ dally bank. or tru.t com pant.. In tl~ .t.tf' c.r ~... Yllrlrlo'1 the .'atf' d onneetkut h, be de.ij(nat.,1 by th. 111,\1 ~l"vl.er " t.... ,. .." ..( "'('ollt~.ld a,,01 to II ertPdit (.r .ud' aupervlll?r. Thf' lSul'~rvl.r.r _hll' r"..C'utfl .nd fila ..Uti a h~.n cierk ad~ltlona' ..curity for tha ..'"kHptnK and 'a"'" ar>pllcatlo8 o( lien lU"ne7B In .uch amr"unt and ...Ith such lIur"ti.... all the to_ board ~1I ~prr.v.. The aXI'''A8e hlcurnd In C'on""c:th.n .Un any .u('h IInl1ertaU... bal1 be a eM..,e -a. tat thl" dl.trlet. TIM ferry comml.alClftt'r. abal' OIl ... tora the tea1b day of ..ch montll. me with the to,,", ('lerk of the toma a port of thair aettvtt!.. durin( the ~ rKedtoc mlMlth In ..ell "tall .. the .. Doerd aball """In. Eac'h allch Nf'hrt ....1' ctmlalA . atatem..t .lH>wUtc ...C\&JIt ot ferr"" eba..... cc.l '.cted aad an c.ltllfatl.. o( It.. dtatrtct ill at tbe tlma ., tIllna the r.port. All clalma .."Iut tlllt ctt.trit1t ...." a.dited lIUlIItllly bJ tlw t,._ tk..rd ... pe~ by 11M .lIpem.or rro. -,. .malniDI to Ilia endlt ... IMII<oGlI1t1lJ to tbe tarry 'latriM. ('1It eI _Il CtaeY. tM to_ ~ -7 ..tab'lah a .....Ivtnc l'8't1y toaa" flIRd fro. tM .e f tlM Itoard 01 o<'lftlDieaiottera. Sac" f.... ..1' bP In .IK''' am....1l .. .... own "oarrJ 111&' ..m _....ry bat abal ~ ... at a&\1 '1ra I~ed tbe lhUII el 1.. hlla4red ft.,lIara and .ha'; c:ontiall. lA a...,-- h-OJ'D year to rear ....1 ollabe4. Ikacb pett7 caa" f\utd aNi! be p'a08<l !II all .~vnt in tta. .-- ., h c:omlDi8.i_ .... aball be un4er the eOlltroI <'If 11M m.~.r aM IIlll"'lll.'- ..... tbenfrolll abal; iii. rDlk<M _17 fc.r fIl'7.....at III adnac. at all4lt of roperty Ita.laed a&1 tertined or ".rttt.d billl for matlrlala. ns.U..... Inlc.. otber tbaA em~lorne1l'. rl"('>ytded. ",....a_r. 'bat npendU.... DOt . ."ce.. of ten :S~".r. III any o~ time l"'IA1 he mad.. frr e.at! Tllrelull.. eI 1 -T- r I I , e- i I t ~ l i f ~ =1 i = a. i I r i i i ~ ! i i ;: r ~ i I ; r 1 ~ ! f i i ~ i f i i f = a. I i f ! f i I ! ! ; I . : I . ~ r I J r j I J~ I ~! i 1 i l' 0 I 1ft i! I . f t 5 8: t . Iii ~ i i r= f ! i ~ ! ~ I I r , I ! · · I ~ ! ~ ! -.1 fJlI1!fti; g i~f=ia...~.. itB riiilfi-:i~ I I ! i ; [ i J : ~ i isri ill Illif i'l. :';iicg. i11.-131- f..~i= g- I I I I r [ f ; i: f ( i f - I i I · ::: i !. f .. ~ II . 9 i t i i i r i ! .. ~ i !. i ~ ~ 'J r r - I) · "l " ;; - I a J ! : oi e _ f... . . 3 ~ ; : ~ I. - .. ~ : .. ... ... ') : ! 9 '; ~ f , ~ i : B ; i a · !:: i' i . l I I ! a . 9 ... - ! i ~ .. . . i ~ "l - B r a. !. f I 1 i ;z · . - . I ~ i ~ . I .. . .. .. : B ., . ~ = 3! I I ~ i f [! :J II i;ilii liII!~~~ a,.vealt: > fir; i ~ t i f ~ [ ~ i i . il!i'&:~ ~. i,=:il- iil-(O t! i:1~!3if; . ... 1; if ;~liJ: ~;. I /lQ · ' "l V .. ~ -g:lo r. _ 3 f - ~ ~ · ~ o . i ~ · a ~ ! ~ ... i -;.. - · 1 ~ iff ' i i i · 5 1 ~ i ~ i i i 1 ; (s!r a:i5~ 1~'oC..f Sii{! . . o = .. .' 1 ,I . . . r-tionl. p".er. altd cia.. nI tM ooraml..'-re relaUne to tIM operaUOIl and matJItlllllllCle d 1"1a..... lala" r.rl')' ...." M .".rqiaed aDd ,.rlormecl la, I tha m--.c.r or ll~r Ilia IlIperv"loD ."litjeet te the dll'fttlon a" cCfttrol of tha ('omml..I~.... The m.....r alia:! lUleute and m. ..lth tM to_ clerla 01 tIM 10_ all ~.l't&klnt tor the ..,.k..ptac aDd lawful application of uy fllAda nf the dt.trlet ",lalch may come Ie Illa band. lP IUcb all!lOllIlC ..... .Uh .ueh .u~t)' nr .ul"9tle. 1Il1 'M1I be ar;>roved by tile h.wn bo:>erd ot Ih, 1"11'11. S8. The _ual m_U... IMIl be held .IUtIn tbe dt.ftrkt at . l,lace Ic' be fbed b, tM comml..IOIM.... The lomaaiall..-,nerl 8t",,' call.' nflU_ to be ;>OIICed In nw pGblle pIlUle. fa ... lIS....... at I.... te" u.~. belore the date 01 tb. a_al rn.etbt. Tbe ..tie. ...11 .tat. tbe U_. plac. aad oltjec1 01 tb. m.attn, an4 tbe bo.Ir. tut the polla ar. te N__ ~ Tbe pone .hall he opec for a period of foar Mare te he fu.d ~ the C101ll....1_n. VoU.. ..Il be by papft' bellot to be prOYI4IN b7 tlM eO..IIl......... '1t01I beHog ..1' coliform.. -..11 a. ma, be to ballota for primal')' elhUeM ~ by .actlCIII - "1IIIIIred .fItIt "" 11M II~tJeo I.., The ..,e.. of .lMl!I .,UIU.! meetlDf .ball be a charia ..a1nat tM ....rklt. I:lec1on ut tbe lIlatrlet I quallflf'd to YOte for to..n oItle.re r>1 tb. le.. of SOlItllold at 1M ~ II to,,", .I~tl_ .lla1l 1M .llclbl. to vet. at &G1 nela a_ua: .I.u.a., TM m.mber. or the MaN 01 c('Il'Qml..loe.... ....11 1M tbe lupecton CtI .1..... aDd at 11M cle... of the poll. ""1 caa.... tbe vote aM ..rilly.... ....It f1I tile .'ectle" A certificate of tM rellIlt .._.'" ~ the l_pectoN fill eleet_ .ball be nl" 1a till Cltrtoe of the to_ Glen of 11M to_ c11ol1tbo1" 110. n. fllleal ~r 01 tlM 'latrlet ....U 0__' _ the It.... -T CtI .JaauaryaDd eDd oa tIM tblrt1-fl.... _, of OecelllM1'. ". eo..-a.eh.... elaal! p...p.... lIetaJl.4 ...tmat.. ID wrttJItc of tile ..UCllpa'" re...... and ..pen..tltare. ror I.,ch."trkl ,'or Uta a,>lIrpeee ot detel'lllbWII tbe ~__ of IT'(>fIey r~ulrH t<:, 'Tl...t the .,,~.naee of operatfOll .... _~. .,IM .tlatr1ct aDd ..~latrlct pr:'l,ert1 and lraprO'W'e___ m .... t1.acal ,..r C'-..._ -I- . . . . . .n ,be nnl Iia)' ur Ja....ry _lit aucc"~, Such an_al ..U_... aha' be PN(o>&r.d alld .u~mIU.d and acUo. tbereC>ft tallen by 'he h'..n ~arll ot 1M tt'wa In lbe _r a" ..UIlI. tbe time apeciUed In aec:t1t'ft Iwo Ilandred I.,..-a r.t ta. tt,... U1*. The t...n b<..rd .n\" acW It an, .uell .athnal. iaatallmfllta 'Jt ",rlnc1s,.a: and r,f Intar.a, acnu lnc 4urlng .",d\ flac.. yMr on an1 ,,,.. bNId. laaued to provide (unda tor ,be P&YUWDt ,.,r 11M cUllt 01 aeq.laltloft, oerwtructloa aDd equipment ct the f.rry. ne ame>unt of al&Clb e8ttmate aa appro..d by tlM tcnn bcerd .ball be ......d "y ta" ll~ all the la....I. ....1 propert, of tIiIe .l8triclt, at tIM ..me time, in ,be "OM ....n.r &Ad at)' tbe "IDe orne.... .. to_ eha..... ar. ....." b}' tax tMre.... aDd wbell ooll_t.d ....11 be paW '0 ,be .Dpe.....or d tbe t.....n. All or till. f.r'Ovlat_. of ._tioa two IllJA4lrM h,,,-a of ,be tOWD la.., lJ",t 11lC~l8"nt ",nil the pl'OYlal~ of 'lala ac'. a.ll appl,. Ill, "0 cralllm&8.lr.-r, (jmoar, ..plo,.. cor .._, 91 'b. dl....let ....11 ...". ..y pen_' ....r..t 1a bY t'tlIJ'raet, I.... or ac...._Dt .ne.te4 panMnt t. tbla act or III ",..,.I."i.. 10"" 0lP _lariat. lor tbe &trWt. Ill. If lbe..... 01 tM aca.. Gr c.f tM U.... ltat.. ....11 UJuq. IUI7 M<ltloa l)I' ...u.oaa, pr",".INlor provteb. of tb1a act UI1e()U".......1 ... 9Old. ,bea..... lI"eMlllUUcft ....11 affect Oftl)' tbe eectlGn or .......... I'rmrl81Cla or ..r(lmtone .0 adJ-qad to be UDc..ututloDal or YOltI. aIIlI...1I DO' affect &8)' otHr ..cUeD or prom" of tbia act. ~ -10- J .,i':,~~~~' ^.~,~." :<Yt:f?''(':~1I1~~F''''':,~'lW['''''i~~'' ~~"'.. &:'C':Y':";!''-''''''.Y>."._""..:l~......~,,,,:.'('.,~~~.,,<.jf[!;,;r.!,,~~.,,.,,-,,",~~""~".~"_~~__ """..."..,....,,~,.._.,__i,.-'fI{ . . STATE OF NEW YORK l COUNTY OF ~ SUFFU:..K 55. : I, R81ph P. Booth , Town Clerk of the town of Southold, New York Do HEREBY CERTIFY AS FOLLOWS: 1: That the names of the Supervisor, members of the Town Board and Town Clerk of said Town since ~f ~n1J.~'!ry 1 195.;) , , and the times when their terms of office respectively expire are as follows: T ernt Expires: Norman E. uKlJpP ..j Sup~rvisor , us tl.ce or P(.3t1ce -justice (}i' Pea.c~ m])~(). .. ~l, .1~Qt .che .m.. D~<:).~l,l:9Ql.m t,he . . .. m . . Leeter .1(. . Al:ber:t;son /i .Ralph .W. miuthUl f m Dec. 31, .1951.. . Justice 0 tte Peace :a:AruH~ Terry .Justi.ce of l' eace Justioe of TowJ'<!1~r~e ....m.mDeo.31, 1.9..53.... tJ:e Henry. .A. ..Ola.rk.m Radford C. Shanklin mm ... ......Ra:J,.PAP~m:aooth. mmmm.Deo.....3., 1953m the Deo. 31, 1953 ..m..Deo.. 31,1951 2: That the duly designated official newspaper of said Town since January 1, 195() has been as follows: There has been no designation of any offioial newspaper in said Town. all ~~~i~;~;dl1~:i~:~d~~~:~~ll~~~;~~~(lTk:~~tt~kT~:~~P:ri~ The Long Island Traveler-Matti tuok Walt ohman. 3: That the time appointed ior holding regular meetings oi the Town Board smce Januar-j 1, 1950 has been as iollows: There has been no definite time appointed for holding . . regulal'tIlEult1ngs....ofmthe Town Board..... 4: That the territorial limits of said Town are not coterminous with the territorial limits of any existing school district. IN WITNESS VVHEREOF, I have hereunto officially set my hand and the corporate seal oi said Town this 7z:fv day oi t) c- tl):.) e r~ 1 1950. -L(n(~- p a.v;f Town Clerk. Form la SM 4.49 B. & Co. $100,000 TOWN OF S0UTHOLD, NEW YORK FISH~lS ISLAND FEr~ DISTRICT (SERIAL) BONDS, 1950 NOTICE OF BOND SJtLE Sealed proposals will be received did considered bJ'- the under- signed Supervisor of the Town of Southold, .. Supem.aW'8 artice, 16 South StZ'eft (P.O. Address; 16 South street, Greenport Suffolk County, . in Greenpon New 'i ork, at , New York 2 0' clock .!...M., Eas tern Standard T irue, on the 29th , New York) at day of ~ , 1950, at which time and place the bids will be opened for the purchase at not 10ss than par and accrued interE,st of ilOO,OOQ Fishers Island Ferry District (Serial) Bonds, 1950, of said Town, of the denomination of ~1,000 each, dated October I, 1950, lllaturing $10,000 on October 1 in each of the years 1951 to 1960, botll in- elusive, and bearing interest at a rate not ex.ceedi~,g five per centum per annum payable sEl!li-annually April 1 and Octoter 1. Principal find interest of said bonds are payable in lawful money of the United States of America . ~ CiV ot lIJew York in In Ywk, Jew Ywk. " at the FiRt National Bank of,- --,....d..,.i,.1I.I..III.....lIu&l.llUr..~lu ,;onds will be in bearer form with courons attached and mCl)' be converted into fUlly registered bonds, and will be valid and legally j)indlng general Obligations of said To~n, payable in the first instance frow a le~j upon property in ~he Fishers Island Ferry District in the TOWII, but 11' not paid from such levy, all the taxable real prOperty wi thin the Town will be sub- ject to the levy of ad vaJ.orcra. tuxes to pay said oonds and inter€'st thereon, without limitation as to rate or amount. El.lch bid must be for all of said :$lOU,OOO bonds and state a single rate of interest therefor. Unless all bids are rejected the award will be made to the bidder complying with ~;e terms of sale and offering to purchase said bonds at the lowest rate of intel'est, not exceeding the rate above speCified, stated in a multiple of one-quarter or one-tenth of one per centum per annum, without reference to rre.'liu,'1l, prOVided, however, :hat if two or more bidders offer to nurchase said bonds at the same o.est rate of interest then such award will be made to the bidder offering be highest premium. The right is reserved to reject any or all bids and Iy bid not complying with this notice of sale will be rejected. Bach "'i" - 2 - pid '1lust be enclosed in a sealed envelope addressed to the unuersigned Supervisor and should be marked on the outside "Pro,osal for Bonds" al'1d must be acc~npanied with a certified or cashier's check drawn u,on an incorporated bank or trust company to the order of the Town of SoutlJold, New York, for $2,000 as a good faith de,Josi t to secure the Town against any loss resulting from the failure of the bidder to comply with the terms of his bid. No interest will be alloVledon the amount of the good faith deposit. Said bonds 'are issued pursuant to the Constitution and statutes of the State of New York, including alllong others, Cha"ter 699 of the T9WD Law the Laws of 1947, as amenaedpand th~ Local Finance 1aw, for the purDose of the acquisition of a ferry fur the Fishers Island J:o'erry District, in said Town, the period of probable usefulness of which is 10 years. The statutory authority .to ClllCOlllplish the object or purpose for which said bonds are to be issued is Chapter 699 of the Laws of 1947, as amended. Hn down payment is required by Section 1,j7.()Q of the Local Finance .l.o&W. Provision for the va.i.1dation of said bonds ~'rovided 1n Title 6 of Article 2 of the Local J!'inance Law 1s being complied with. In the event that prior to the de.Livery of the bonds the income received by private holders from Donds of the same type and character shall be taxable by the terms of any J:o'eder",l. incoro!" tax law, the successful bidder may, a t his election, ~,e relieved of bis ooligations under the contract to ~'urchase the bonds and in such case the deposit accompanying his bid will be returned. Said bonds will be delivered at New York, New York:, or at such other place as may be agreed with the purchaser about December 8 . 1950. The approving o;'inion of Messrs. Vandewater, Syies, Heckler &: Galloway, At torneys of New York City, w111 be furnished to the purchaser without cost. The usual no litigation state.:nent will be inClUded in the closing papers. '!'" - J - FlNANC1AL STATEMENT The assessed valuation of the real estate subject to tbe taxing power of said Town, as sho....n by the last completed assessment roll, is ~. The average assessed valuation of the real estate SUbject t( taxation for any purpose by said Town, as detezr.uined by the last completed ~442,019.60 assessment roll and the four preceding assessment rolls is~~" ~'lh . The amount of the debt-contracting margin of said Town (exclusive of the , .t. bonds herein offered for sale), as required to be shown on the S~VJ?lemE'ntal Debt Statement filed pursuant to Section 109.00, Local Finance L,~~ i~. Jr," $ l~901.861.'" . The total bonded debt of said Town, exclUding the 1-~~ r'C mentioned bonds, is $ 26.000 of which $ IJoDe is water d~t.~ ;~ The population of the Town (1940 Census) was 12.046 . The totat; b, "ed debt above stated does not include the debt of any other SUbdiViSi~ h Yin~ t) power to levy taxes u;on any or all of the property subject to thet:f! g , power of said Town. The fiscal year commences January 1. Thewno~t of "1 taxes levied for each of the fiscal years commencing January 1, 19~. l84.896.14 1948 and January 1, 1949, was respectively .~, 2}2.m.23 and~. The amount of such taxes uncollected at the end of each of said fiscal years was respectively :it Bone , lanury 1. 201,066.26 \r.rr _- .~_ 1In_ and $ 1lft_ . The amount of such t axes remaining un- collected as of the date of this notice is respectively $ ~.. , 4L .... and" Iro.. . The taxes of the fiscal year commencing January 1. 1950 amount to ~ of which $ 236,456.51 have been collected. A detailed re~ort of .essential facts will be submitted to any interested bidder. Dated: Greenpon . New York 110...- A__ 1~ , 1950 ~ E_ 'IT.TJt1) Supervisor .-.. . . V.ti.lill:;7r..t..:L'~ J SYKES, I.GCKLZR & G.trr.LO:;i~ty ATTORHEYS li.;,';D COUNSELLORS AT LAW 120 Broadway IJew York 5, 1~-. Y. October 2, 1950 Rensselaer G. ~erry, Jr., Esq. Attorney and Counselor at Law Southold, New York Re: Proposed $100,000 bond issue of TO\Vll of Southold - Fishers Island Ferry District Dear Mr. Terry: In accordance with our telephone conver-sation we are enclosing herewith a bond resolution and a bond anticipation note resolution. Both of t'lese must be adopted by at least a two-thirds vote of the entire voting strength of the Tovm Board. Mter the bond resolution has been so adopted please have it published in a newspaper having gene"al circulation in the J:'own together with the legal notice 1':1'ich is also enclosed. ~t any tir,le after twenty days 1wve eJ\.-pired from the pulJlication of such bond resoll)~tion we will be in Q position to advertise the bonds for sale. In the meDntime if the noney is required prior to such date it would be possible for the 'fown to issue bond anticipation notes to obtain the necessary funds. Frankly, we would prefer not to approve any bond anticipation notes until the estoppel period hes run. However, this is r.lerely a matter of policy wi th us and if our opinion is needed on the bond anticipation notes please advise us and we will oonsider the matter further. In your conversation you indic"ted that a local bank would probably buy the notes without an opinion. ....bout five days befoT.e it becomes necessary to issue bond anticipation notes please give us the following information: (1) the date of the notes; (2) the amount; (3) the maturity date (it should probably be a note for "bout two months); (4) the interest rate; (5) the purchaser: (6) the place of III ynlent, which should be a local bank, State bank or trust company. We will then draw a bond anticipation note certificate, the original bond anticipation note and the necessary u:losing papers. As we advised you over the telephone our fee .rill not exceed ~500. In addition to our fee we believe you should allow an item of *150 for publication of the notice of sale in the Daily Bond Buyer, approxima tely $200 for the printing of the bonds and, if the Town Board desires, another ~150 for the preparation and distribution of a bid circular substantiallv such as the enclosed. This last itera is not absolutely necessary but it does afford even more publicity on your sale. We further believe thatin preparing the Ferry District budget for the fiSCal year beginning January 1, 1951, you should include an item of ~?lO.OOO for a principal payment and :;?2,000 for two semi-annual installments of interest. TIlis last item is probably high but it is better to estimate ~n the high side rather tiBn find yourself short. In due course please furnish us with a certified copy of both of the enclosed resolutions as well as an affidavit of publication of the bond resolution with legal notice. In addition we understand y'JU will furnish us 1ihe following in connection with the creation of the District: \ 1. \ 2. Petition for the forl~tiOJ1 of the District; -""_"'0'___.- ",~''',,"____.''_'''_'__'''''___''_" Order of the 'fown Board calling the hearing on the fOrFl>. tion of the Ferry District; . - . . --, . . Rensselaet G. Terry, Jr., ~sq. -2- October 2, 1950 - ~...i'i'idavits of publication and posting of the notice of . h hearing j 4. Approval of the formation of the District by the State Comptroller j 5. Final order of the Town Board establish~ng the Distric~. ---- Very truly yours, Vandewater, Sykes, Heckler oc Galloway ANG/mw Enclosure s ~~.,.. -' - , . . Form AC 970 (1950 Rev.) DEBT STATEMENT OF ... ... r >>11 ............................................... ........ In the County of ...................., New tork Prepared a8 of .11 hr U ,. 19.... .. .......... ........ ...., .' . . . . Form AC 970-1 (1950 Rev.) AVERAGE ASSESSED VALUATION [ Assessed valuations from last five completed l~ ReaJ~~Y ~~. Years Subject to Gen- I Endi eral Taxation I 1 *' $23.... j I 2 ~ ~..~'" 1949 ~ 19SO 25.01'1.- 19S1 2S.m.98f assessment rolls (3) Pension Exempt Special Franchises Totals, Columns (1), (2) md (3) 3 4 $ 685._ 7~ i'64.517/, 792.u;5 8J"I,19l $~ 24.-_ 7CI 25.829.305 ~~ $L2T;'JD.PJlI $ ~.019 5 6 Total of lines 1 to 5 inclusi ve ................................. I i 7 "== Average assessed valuation (one-fifth of total of Column 4)..... NOTE: In completing Column 3, counties, towns and villages should omit "pendon exempt" valu- ations as to assessment rolls comoleted after March " 1946. However, in any village vhere "pension exempt" property is taxable by the village 811 such for local school purposes, rather thlUl by a school district, the village may include "pension exempt property on Lines 1-5. The State Comptroller will furnish any city rtth an opinion as to whether or not such "pension exempt" property may be included in computing its "average assessed valuation." The Local Finance Lav, section 2.00(7) defines a "completed asses8Dlent roll" as one which has been "completed, verified and filed by the assessors." The amounts to be used in the colUIIIDs above would be the amounts sho"" on such rolls as filed after the hearing of grievances, re- garcUes8 of subsequent changes. DEBT LIMIT (Complete the line belov vhich is applicable to your unit) Counties (except Nassau) MU"';ly "average asseased valuation" by .08 Nassau county multiply "average assessed valuation" by .10 Cities (except Nev York City) multiply "average assessed valuation" by .09 Nev York City multiply "average H.8aessed valuatlonfl by .10 Towns multiply lIaverage assessed V8..J.k;:" ~.~,!).~l by .08 Villages multiply "average assessed valuation" by .00 ...... .......................... $ $ $ $ $ $ ............................... ............................... . . . . .... .....".................. 2~." ................................. "'-....................... PROPOSED BOND ISSUE The amount of bonda J?!'oposed to be sold at public sale on..... 29 19~, in connection with vhich this statement ia made and filed is , $ ~ The amount of bond anticipation notes heretofore issued in anticipation of the sale and issuance of aue" ",O",id auu included at "Borrortngs" at Item 1 ot Inclusions at page 2 1s .._....4~............................. $ 91.OlX\oOO The municipality will not sell soy bonds or notes at public or private sale between the date as of vhich this debt atatelll8nt is prepared and the date of sale above lllentioned except 811 follovs: -'''=~ Amount Type of Obligation Date or Approxi- _te Date of Sale $ ... I - (Page 1) ." . . Form AC 970-2 (1950 Rev.) STATEMENT OF TOTAL DEBT At each item below will be found a statutory reference. For example, "135.oo(a,1)" means "subdivision 1 of paragraph a of section 135.00 of the Local Finance Law". Reference to such section 135.oo(a,1) in the Local Finance Law will show the statutory meaning of the lo'Ord "Borrowings". Where a section reference appears below consult such reference in the Local Finance Law. INCLUSIONS Item To be completed by Amount l. Borrowings. 135.00(a,1) All municipalities 1$ ut.!D> ilO 2. Real Property Liabilities. ..0- 135.oo(a,2) and 142.00 All municipalities (a) ...0- 3. Contract Liabilities. (Separate according to ..0- 135.00( a,3)) All municipalities (b) 4. Contract Liabilities: ..0- Housing Guarantees; (a) Subsidies. ( Separate .... according to 135.oo(a,4)) Cities, Towns, Villages (b) 5. State Loans to Certain Housin~ Authorities. ..0- 135.00 a,5) Cities, Towns, Villages 6. Judgments, Claims, Awards and Determinations. (a) ..0- (Separate according to ..0- 135.oo(a,6)) All municipalities (b) 7. Indebtedness Contracted ..0- by Certain District Corporations. 135.oo(a,7) Cities, Towns, Villages 8. Pay-as-you-go Financing. ..0- 135.00(a,8) Counties, Cities, Villages 9. School Debt ..0- 135.oo(b,c,d,e, and f) Cities only See Instruction 4. Total Inclusions..........................A...................... I 13S,- 00 TOTAL NET INDEBTEDNESS NET DEBT-CONTRACTING MARGIN Total Inclusions l3S,-) 00 Debt Limit (See above) S (See page 1) I 2.~ 'R LESS: LESS: Total Exclusions 2pJO Total Net Indebted- 133._ 00 (See page 3) (l) ness (See left) Total Net Indebted- 1>>._ ness $ 00 Net Debt- - Contracting Margin S ~9Ol..161 n PERCENTAGE OF DEBT-CONTRACTING POWER EXHAUSTED Divide "Total Net Iw.l>.t.!!dness" (above) by "Debt Limit" (page 1) and enter result here: ...", (Page 2) . . Form AC 910-3 (1950 Rev.) STATEMENT OJ' TOTAL DEBT (Continued) EXCLUSIONS Item To be cOlllp1eted by Amount 1. Tax and Revenue Obligations. S ...0- 136.oo(1)(8ee note at foot of page) All municipalities 2.Water Indebtedness. 136.00(2) All municipalities ...0- 3.Indebtedness Contracted for All municipalities (a) ...0- Self-Liquidating Projects. ...0- (Separate according to Cities,Towns,Vi11ages 136.oo(3(a), 3(b) and 3(c)) re district corporations (b) Counties,Towns re im- ...0- provement districts (c) 4.Bonds for Pensions. 136.00(4) -0.. All municipalities 5.Assessab1e IlIlprovements. Buf'falo, Rochester, ..0.. 136.00(5) Syracuse 6.Indebtedness of a County Wholly ...0- Included Within a City. 136.00(6) Nev York City only 1.(a) New York City only (a) ...0- Budget Notes (b) Indebtedness for Se1f-Liquid- ..... ating Dock Facilities New York City only (b) (c) Indebtedness of Independent ...0- Sub_y System New York City only (c) , (d) Indebtedness for Transit .. Unification Purposes New York City only (d) (e) Rapid Transit Indebtedness .... Excluded Prior to 1939 New York City only (e) (f) Indebtedness for Se1f- ...0- Liquidating Transit Facilities New York City only (f) (g) Indebtedness for Hospital ..... Purposes. 136.00(1) New York City only (g) 8.Indebtedness of a City for Housing. (a) .... (Separate according to 136.00(8)) Cities only (b) ~ (c) "'P (d) ~- 9.Subsidies or Guarantees by a .... Town or Village for Housing (a) Purposes. (Separate according Towns and Villages .... to 136.00(9)) only (b) 10.Assets of Sinking Funds. ..... 136.00(10) All municipalities 11.Cash on Hand for Debts. 2.oao GO 136.00(1l) All municipalities ..... 12.Appropriations. 136.00(12) All municipalities Total Exclusions............................................. . . . . . $ 2.oao CID Note re Item 1 above: Do not include in this amount bonds, bond anticipation Dotes, capital notes, budget notes, or obligations which have been issued for the direct financing of illlprovements or equipment. Do not include in this amount any tax or revenue Obligations, or renewals, which have not been retired within five years after the date the original note was issued. (Page 3) J . . torm AC 970-4(1950 Rev.) SCHEDULE A This schedule contaiDs a stat_nt ot the bonds, notes or other obligations ot the munici- pality which have been authorized to be issued but whiCh, in tact, have Dot been issued. Part 1. The tollowing obligations will be sold at the sale in cOIlIlectioD with which this debt statement is tiled: Date Type AIIIount Object or Purpose tor of ot to Authorization Obligation Be Sold Which Authorized Oat. J. _ La. ,..-- 00 -.... ~ Total.............,.............. ... .... , Part 2. The tollowing obl1sations now r~n authorized but not issued and will not be sold prior to the sale of the obl1ptioDS l1sted in Part 1 above, except as noted below: Date Type AIIIount of ot p....1n1ng Object or Purpose tor Authorization Obl1gation Unis.ued Which Authorized 1--- '- , f--- Total. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. , The follOwing symbols DIIQ' be uaed: Serial Bond-SBj Bond Anticipation Jlote-BAlfj Capital Note-CJIj Tax Anticipation Kote-TAlIj Revenue Anticipation Jlote-RAMj Budget Jlote-BKj Certificate of Indebtedness-Clj Sinking Fund Bonds-SFBj Corporate Stock-CS. The City of Rew York, according to the Local Finance Law, section 132.00(c), need only sub- mit the suuaary statement required by such section. (Pase 4) I '. ~ . . Form AC 970-5 (1950 Rev.) (This debt statement must be vet'ified by the chief fiscal officer of the municipality. In towns, this officer will be the supervisor or presiding supervisor; in villages, the village treasurer. Counties and cities, see definition of the term "chief fiscal officer" in Local Finance Law, section 2.00(5). If a municipal~ty has no chief fiscal officer, then this statement must be verified by the finance board.) VlillIFICATION BY CHIBF FISCJ, OFFICER State of New York County of Ihl 1" ...~ being duly sworn, deposes and says: That he is the duly (elected)( 1), qualified, and acting chief fiscal-officer of the r- et ~ in the County of IatMJr. , New York; th"t _he prepared and has read the foregoing debt st,tement and knows the contents thereof; that the same is true to (his)(her) own knowledge excspt as to the matters therein stated to be alleged upon information and belief, and that as to those matters he believes it to be true. Subscribed and-sworn to before ~/C~8. ,;;&;/. ~ IIdI'ea ) ) ) ss: me this;) / day of ')..A:'-('~, Title 19 ::{ 0 - ~ ~U<Z>2-_ o. ,L#",,"0 Notary Public TH(Rfsr..... UND:-,'Y. "'IN"R'r PUBLIC Sl'HdtK co; 1,. N. Y., ~'o .1482 CO\i\lISSION l^~TiIFfCAT1~'iBy Mail Address flp-~vo4'~"I. FINANCE BOARD (Not necessary if verification is made by chief fiscal officer.) State of New York County of ) ) ss: ) being each duly sworn, deposes and says: That they are the duly (elected) (appointed), qualified, and acting members of the finance board of the in the Cou~ty of New York; that they prepared and each of them has read the foregoing debt statement and knows the contents thereof; that the same is true of their own knowledge except as to the matters therein stated to be alleged upon infor- mation and belief, and that as to those matters they believe it to be true. , Subscribed and sworn to before me this _ day of , 19_ Notary Public (Page 5)