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aN No. 6R-1 55,224,000ut/
6 ~ UNITED STATES OF AMERICA ~ "
STATE OF NEW YORK
COUNTY OF SUFFOLK
TOWN OF SOUTHOLD
,l'd BOND ANTICD?ATION NOTE FOR VARIOUS PURPOSES-2010
The Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York, hereby
acknowledges itself indebted and for value received promises to pay to JPMorgan Chase Bank, N.A., Melville, New York, as
~ registered owneq the sum of FIVE MILLION TWO HUNDRED TWENTY-FOUR THOUSAND DOLLARS (SSZ24,000)
on the 2nd day of Septembeq 2011, together with interest thereon from the date hereof at the rate of fiftysight hundredths per
centum (0.58°/.) per annum, payable at maturity. Both principal of and interest on this Note will be paid in lawful money of the
United States of America, at JPMorgan Chase Bank, N.A., Melville, New York.
Both principal of and interest on this No[e shall be payable only to the registered holder, his legal ~ fl``~
representatives, successors or transferees. This Note shall be transferable only upon presentation to such Town Clerk with a _
_S;~.
written transfer of title and such Town Clerk shall thereupon register this Note in the name of the transferee in his books and shall -~~7
endorse a certificate of such registration hereon. Such transfer shall be dated, and signed by the registered holder, or his legal
representatives, and it shall be duly acknowledged or proved, or in the alternative the signature thereto shall be certified as to its '
genuineness by an officer of a bank or wst company located and authorized to do business in this State. .yr-
I
This Note is the only No[e of an authorized renewal issue, the principal amount of which is 55,224,000.
` This No[e is issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated b
Laws of the State of New York, nine bond resolutions adopted by the Town Board on their respective dates, authorizing the
issuance of serial bonds for various purposes in said Town, and the Certificate of Determination executed by the Supervisor on -
r September 2, 2010.
i
I This Note has been designated by the Town as a qualified tax-exempt obligation pursuant to the provisions of Section
265 of the Internal Revenue Code of 1986, as amended.
The faith and credit of such Town are hereby irrevocably pledged for the punctual payment of [he principal of and
interest on this Note according [o its terms. It is hereby certified and recited that all wnditions, acts and things required by the
Constitution and statutes of [he State of New York to exist, to have happened and to have been performed precedent to and in the n~.
issuance of this No[e, exist, have happened and have been performed, and that this Note, together with all other indebtedness of ~ i
such Town, is within every debt and other limit prescribed by the Constitution and laws of such State.
IN WITNESS WHEREOF, the Town of Southold has caused this Note to be executed in its name by iu Supervisor,
and its corporate seal (or a facsimile thereof) [o be affixed, imprinted, impressed or otherwise reproduced hereon and attested by '
its Town Clerk and this Note to be dated as of the 2nd day of September, 2010..
. _i
TO FSOUTHOLD
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Supervisor ~i`
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CERTIFICATE OF DETERMINATION BY THE SUPERVISOR
RELATIVE TO AUTHORIZATION, SALE, ISSUANCE, FORM
AND CONTENTS OF THE $5,224,000 BOND ANTICIPATION
NOTE FOR VARIOUS PURPOSES-2010 OF THE TOWN OF
SOUTHOLD, NEW YORK.
I, Scott A. Russell, Supervisor of the Town of Southold, New York (herein called
the "Town"), HEREBY CERTIFY that pursuant to the powers and duties delegated to me, the
chief fiscal officer of the Town, by the Town Boazd of the Town, pursuant to the bond
resolutions duly adopted and amended and as referred to in the pazagraphs below and subject to
the limitations prescribed in said bond resolutions, I have made the following determinations:
1. A bond anticipation note of the Town in the principal amount of $14,000
shall be issued to renew, in part, the $100,000 bond anticipation note dated September 4, 2009,
maturing September 3, 2010, and heretofore issued in anticipation of the sale of the serial bonds
authorized pursuant to the bond resolution entitled:
"Bond Resolution of the Town of Southold, New York, adopted
July 17, 2007, authorizing the construction of improvements to
Ryder Farm Lane and Pazk View Lane; stating the estimated
maximum cost thereof is $180,000; appropriating said amount
therefor, including the expenditure of $30,000 expected to be paid
from the proceeds of a separate issue of bonds and $60,000
expected to be received as a reimbursement from the County of
Suffolk; and authorizing the issuance of $150,000 serial bonds of
said Town to finance a part of said appropriation,"
duly adopted by the Town Board on the date therein referred to, and the Certificate of
Determination executed by the Supervisor on September 4, 2009, the redemption of said
$100,000 bond anticipation note having been heretofore provided to the extent of $86,000 from a
source other than the proceeds of serial bonds.
2. A bond anticipation note of the Town in the principal amount of
$2,389,000 shall be issued to renew, in part, the $2,580,000 bond anticipation note dated
September 4, 2009, maturing September 3, 2010, and heretofore issued in anticipation of the sale
of the serial bonds authorized pursuant to the bond resolution entitled:
"Bond Resolution of the Town of Southold, New York, adopted
August 16, 2005, and amended May 22, 2007 authorizing the
construction of a new Town Animal shelter, in said Town, stating
the estimated maximum cost thereof is $3,300,000, appropriating
said amount therefor, including the appropriation of $280,000 held
in trust and authorizing the issuance of $3,020,000 serial bonds of
said Town to finance the balance of said appropriation,"
duly adopted by the Town Boazd on the date therein referred to, and the Certificate of
Determination executed by the Supervisor on September 4, 2009, the redemption of said
$2,580,000 bond anticipation note having been heretofore provided to the extent of $191,000
from a source other than the proceeds of serial bonds.
3. A bond anticipation note of the Town in the principal amount of $21,000
shall be issued to renew, in part, the $24,000 bond anticipation note dated September 4, 2009,
maturing September 3, 2010, and heretofore issued in anticipation of the sale of the serial bonds
authorized pursuant to the bond resolution entitled:
"Bond Resolution of the Town of Southold, New York, adopted
July 17, 2007, ratifying the appropriation of $30,000 to finance a
part of the cost of construction of improvements to certain highways
in the Hamlet of Orient, known as Ryder Farm Lane and Park View
Lane; stating the estimated maximum cost thereof is $180,000, with
$150,000 of said cost expected to be paid from other sources; and
authorizing the issuance of $30,000 serial bonds of said Town to
finance said $30,000 appropriation,"
duly adopted by the Town Boazd on the date therein referred to, and the Certificate of
Determination executed by the Supervisor on September 4, 2009, the redemption of said $24,000
bond anticipation note having been heretofore provided to the extent of $3,000 from a source
other than the proceeds of serial bonds.
4. A bond anticipation note of the Town in the principal amount of $55,000
shall be issued to renew, in part, the $75,000 bond anticipation note dated September 4, 2009,
maturing September 3, 2010, and heretofore issued in anticipation of the sale of the serial bonds
authorized pursuant to the bond resolution entitled:
"Bond Resolution of the Town of Southold, New York, adopted
Apri122, 2008, authorizing the acquisition of tax collection software
for use by the Town Tax Receiver's Office, at the estimated
maximum cost of $75,000; appropriating said amount therefor, and
authorizing the issuance of bonds in the principal amount of
$75,000 to finance said appropriation,"
duly adopted by the Town Boazd on the date therein referred to, and the Certificate of
Detemunation executed by the Supervisor on September 4, 2009, the redemption of said $75,000
bond anticipation note having been heretofore provided to the extent of $20,000 from a source
other than the proceeds of serial bonds.
5. A bond anticipation note of the Town in the principal amount of $315,000
shall be issued to renew, in part, the $590,000 bond anticipation note dated September 4, 2009,
maturing September 3, 2010, and heretofore issued in anticipation of the sale of the serial bonds
authorized pursuant to the bond resolution entitled:
"Bond Resolution of the Town of Southold, New York, adopted
June 17, 2008, appropriating $590,000 for the increase and
improvement of facilities of the Southold Solid Waste Management
District, in said Town, and authorizing the issuance of $590,000
serial bonds of said town to finance said appropriation,"
duly adopted by the Town Boazd on the date therein referred to, and the Certificate of
Determination executed by the Supervisor on September 4, 2009, the redemption of said
$590,000 bond anticipation note having been heretofore provided to the extent of $275,000 from
a source other than the proceeds of serial bonds.
6. A bond anticipation note of the Town in the principal amount of $280,000
shall be issued to renew, in part, the $379,000 bond anticipation note dated September 4, 2009,
maturing September 3, 2010, and heretofore issued in anticipation of the sale of the serial bonds
authorized pursuant to the bond resolution entitled:
"Bond Resolution of the Town of Southold, New York, adopted
July 29, 2008, appropriating $400,000 to pay the cost of acquiring
the easterly half of the certain piece of pazcel of land, containing
one half of one acre, more or less, situate adjacent to the Town Hall
property, and previously acquired by the town pursuant to the
eminent domain proceeding (Index No. 06-23054) commenced in
the Supreme Court of the State of New York, Suffolk County, on
August 3, 2006, and authorizing the issuance of $400,000 serial
bonds of said Town to finance said appropriation,"
duly adopted by the Town Board on the date therein referred to, and the Certificate of
Determination executed by the Supervisor on September 4, 2009, the redemption of said
$379,000 bond anticipation note having been heretofore provided to the extent of $99,000 from a
source other than the proceeds of serial bonds.
7. A bond anticipation note of the Town in the principal amount of $50,000
shall be issued to renew, in part, the $90,000 bond anticipation note dated September 4, 2009
maturing September 3, 2010, and heretofore issued in anticipation of the sale of the serial bonds
authorized pursuant to the bond resolution entitled:
"Bond Resolution of the Town of Southold, New York, adopted
September 9, 2008, appropriating $338,800 for the increase and
improvement of facilities of the Mattituck Park District, including
the expenditure of $39,000 from the District's operating fund and
$100,000 available in the Town's recreation fund to pay a part of
said appropriation; and authorizing the issuance of $199,800 serial
bonds finance the balance of said appropriation,"
duly adopted by the Town Board on the date therein referred to, and the Certificate of
Determination executed by the Supervisor on September 4, 2009, the redemption of said $90,000
bond anticipation note having been heretofore provided to the extent of $40,000 from a source
other than the proceeds of serial bonds.
8. A bond anticipation note of the Town in the principal amount of
$1,400,000 shall be issued in anticipation of the sale of serial bonds authorized pursuant to the
resolution entitled:
"Bond Resolution of the Town of Southold, New York, adopted
Mazch 9, 2010 and amended May 4, 2010, authorizing the
construction of improvements to various roads on Fishers Island,
including related drainage improvements, stating the estimated
maximum cost thereof is $1,400,000, appropriating said amount
for such purpose, and authorizing the issuance of $1,400,000 serial
bonds of said Town to finance said appropriation,"
duly adopted by the Town Boazd on the date therein referred to.
9. A bond anticipation note of the Town in the principal amount of $'700,000
shall be issued in anticipation of the sale of serial bonds authorized pursuant to the resolution
entitled:
"Bond Resolution of the Town of Southold, New York, adopted
June 15, 2010 and amended May 4, 2010, appropriating $700,000
for the improvement of facilities of the Southold Town Wastewater
Disposal District, and authorizing the issuance of $700,000 serial
bonds of said Town to finance said appropriation,"
duly adopted by the Town Boazd on the date therein referred to.
10. Said $14,000 note, said $2,389,000 note, said $21,000 note, said $55,000
note, said $315,000 note, said $280,000 note, said $50,000 note, said $1,400,000 and said
$700,000 note shall be combined for the purpose of sale into a single note issue in the aggregate
principal amount of $5,224,000 (hereinafter referred to as the "Note").
11. The terms, form and details of said Note shall be as follows:
Amount and Title: $5,224,000 Bond Anticipation Note for Various Purposes-2010
Dated: September 2, 2010
Matures: September 2, 2011
Number and
Denomination: Number 6R-1, at $5,224,000
Interest Rate
per annum: 0.58%
Form of Note: Substantially in accordance with form prescribed by Schedule
B,2 of the Local Finance Law of the State of New York.
12. The respective amounts of bond anticipation notes originally issued in
anticipation of the issuance of the serial bonds authorized pursuant to the bond resolutions
referred to in paragraphs 1 to 9, inclusive, hereof, including the Note, aze: (1) $150,000, (2)
$2,890,000, (3) $150,000, (4) $75,000, (5) $590,000, (6) $400,000, (7) $199,800, (8) $700,000
and (9) $1,400,000, and the respective amounts of bond anticipation notes which will be
outstanding after the issuance of the Note, including said Note, will be: (1) $14,000, (2)
$2,389,000, (3) $21,000, (4) $55,000, (5) $315,000, (6) $280,000, (7) $50,000, (8) $1,400,000
and (9) $700,000.
13 The serial bonds authorized pursuant to the resolution referred to in
paragraphs 5, 7 and 9 hereof, aze for improvements which are assessable, and the serial bonds
authorized pursuant to the resolutions refen•ed to in pazagraphs 1, 2, 3, 4, 6 and 8 hereof, aze for
improvements which aze non-assessable.
14. Pursuant to said powers and duties delegated to me, I DO HEREBY
AWARD AND SELL said Note to JPMorgan Chase Bank, N.A., Melville, New York, as
registered owner, for the purchase price of $5,224,000.00, plus accrued interest, if any, from the
date of said Note to the date of delivery thereof, and I FURTHER DETERMINE that said Note
shall be payable as to both principal and interest at JPMorgan Chase Bank, N.A., Melville,
New York, and shall beaz interest at the rate of fifty-eight hundredths per centum (0.58%) per
annum, payable at maturity.
15. The Note shall be executed in the name of the Town by the manual
signature of its Supervisor and the corporate seal of the Town will be affixed, imprinted,
impressed or otherwise reproduced thereon and attested by its Town Clerk.
I HEREBY FURTHER DETERMINE that at the time of the delivery of the Note,
and as a condition to such delivery, I shall deliver or cause to be delivered to the financial
institution referred to in pazagraph 14 hereof a copy of the Town's Undertaking to Provide
Notices of Material Events, executed by the undersigned as chief fiscal officer of the Town,
setting forth the Town's written agreement for the benefit of holders of or owners of beneficial
interests in the Note, all in conformity with applicable provisions of Rule 15c2-12 of the
Securities and Exchange Commission.
I HEREBY FURTHER CERTIFY that the powers and duties delegated to me to
issue and sell the Note hereinabove referred to aze in full force and effect and have not been
modified, amended or revoked.
IN WITNESS WHEREOF, I have hereunto set my hand this 2nd day of
September, 2010.
Supervisor
~
CLERK'S CERTIFICATE
I, Elizabeth A. Neville, Town Clerk of the Town of Southold, in the County of
Suffolk, New York, HEREBY CERTIFY that I have compared the foregoing copy of the
Certificate of Determination executed by the Supervisor and the same is a true and complete
copy of the Certificate filed with said Town in my office as Town Clerk on or before the 2nd day
of September, 2010, and
I FURTHER CERTIFY that no resolution electing to reassume any of the powers
or duties mentioned in said Certificate and delegated to the Supervisor by the resolutions cited in
said Certificate and exercised by the Supervisor has been adopted by said Town Board.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
corporate seal of said Town this 2nd day of
September, 2010.
~~..ao ~ .D ~i~„ODo
Town Clerk
(SEAL)
f
UNDERTAHING TO PROVIDE NOTICES OF MATERIAL EVENTS
Section 1. Definitions
"EMMA" shall mean Electronic Municipal Mazket Access System implemented
by the MSRB.
"Holder" shall mean any registered owner of the Securities and any beneficial
owner of Securities within the meaning of Rule 13d-3 under the Securities Exchange Act of
1934.
"Issuer" shall mean the Town of Southold, in the County of Suffolk, a municipal
corporation of the State of New York.
"MSRB" shall mean the Municipal Securities Rulemaking Boazd established in
accordance with the provisions of Section 15B(b)(1) of the Securities Exchange Act of 1934.
"Rule 15c2-12" shall mean Rule 15c2-12 under the Securities Exchange Act of
1934, as amended through the date of this Undertaking, including any official interpretations
thereof.
"Securities" shall mean the Issuer's $5,224,000 Bond Anticipation Note for
Various Purposes-2010, dated September 2, 2010, and maturing September 2, 2011, and
delivered on the date hereof.
Section 2. Obligation to Provide Notices of Material Events. (a) The Issuer
hereby undertakes, for the benefit of Holders of the Securities, to provide or cause to be provided
either directly or through Munistat Services, Inc., 12 Roosevelt Avenue, Port Jefferson Station,
New York 11776 to the Electronic Municipal Mazket Access ("EMMA") System implemented
by the Municipal Securities Rulemaking Boazd established pursuant to Section 15B(b)(1) of the
Securities Exchange Act of 1934, or any successor thereto or to the functions of such Boazd
contemplated by the Undertaking, in a timely manner, notice of any of the following events with
respect to the Securities, if material:
(1) principal and interest payment delinquencies;
(2) non-payment related defaults;
(3) unscheduled draws on debt service reserves reflecting financial
difficulties;
(4) unscheduled draws on credit enhancements reflecting financial
difficulties;
(5) substitution of credit or liquidity providers, or their failure to
perform;
795749.1033923 CLD
(6) adverse tax opinions or events affecting the tax-exempt status of
the Securities;
(7) modifications to rights of Securities holders;
(8) bond calls;
(9) defeasances;
(10) release, substitution, or sale of property securing repayment of the
Securities; and
(11) rating changes.
(b) Nothing herein shall be deemed to prevent the Issuer from providing
notice of the occurrence of certain other events, in addition to those listed above, if the Issuer
determines that any such other event is material with respect to the Securities; but the Issuer does
not undertake to commit to provide any such notice of the occurrence of any material event
except those events listed above.
Section 3. Remedies. If the Issuer shall fail to comply with any provision of this
Undertaking, then any Holder of Securities may enforce, for the equal benefit and protection of
all Holders similarly situated, by mandamus or other suit or proceeding at law or in equity, this
Undertaking against the Issuer and any of the officers, agents and employees of the Issuer, and
may compel the Issuer or any such officers, agents or employees to perform and carry out their
duties under this Undertaking; provided that the sole and exclusive remedy for breach of this
Undertaking shall be an action to compel specific performance of the obligations of the Issuer
hereunder and no person or entity shall be entitled to recover monetary damages hereunder under
any circumstances. Failure to comply with any provision of this Undertaking shall not constitute
an event of default on the Securities.
Section 4. Parties in Interest. This Undertaking is executed and delivered solely
for the benefit of the Holders. No other person shall have any right to enforce the provisions
hereof or any other rights hereunder.
Section 5. Amendments. Without the consent of any holders of Securities, the
Issuer at any time and from time to time may enter into any amendments or changes to this
Undertaking for any of the following purposes:
(a) to comply with or conform to any changes in Rule 15c2-12 (whether
required or optional);
(b) to change or add a dissemination agent for the notices required to be given
hereunder and to make any necessary or desirable provisions with respect thereto;
(c) to evidence the succession of another person to the Issuer and the
assumption of any such successor of the duties of the Issuer hereunder;
795749.1 033923 CLD
(d) to add to the duties of the Issuer for the benefit of the Holders, or to
surrender any right or power herein conferred upon the Issuer; or
(e) to cure any ambiguity, to correct or supplement any provision hereof
which may be inconsistent with any other provision hereof, or to make any other
provisions with respect to matters or questions arising under this Undertaking which, in
each case, comply with Rule 15c2-12 or Rule 15c2-12 as in effect at the time of such
amendment or change;
provided that no such action pursuant to this Section 5 shall adversely affect the interests
of the Holders in any material respect. In making such determination, the Issuer shall rely
upon an opinion of nationally recognized bond counsel.
Section 6. Termination. This Undertaking shall remain in full force and effect
until such time as all principal, redemption premiums, if any, and interest on the Securities shall
have been paid in full or the Securities shall have otherwise been paid or legally defeased in
accordance with their terms. Upon any such legal defeasance, the Issuer shall provide notice of
such defeasance to the EMMA System. Such notice shall state whether the Securities have been
defeased to maturity or to redemption and the timing of such maturity or redemption.
Section 7. Undertaking to Constitute Written A~eement or Contract. This
Undertaking shall constitute the written agreement or contract for the benefit of Holders of
Securities, as contemplated under Rule 15c2-12.
Section 8. Governing Law. This Undertaking shall be governed by the laws of
the State of New York determined without regard to principles of conflict of law.
IN WITNESS WHEREOF, the undersigned has duly authorized, executed and
delivered this Undertaking as of September 2, 2010.
Town o outhold, New York
By
Supervisor
795749.1 033923 CLD
CERTIFICATES AS TO SIGNATURES, LITIGATION,
AND DELIVERY AND PAYMENT
WE, the undersigned officers of the Town of Southold, in the County of Suffolk,
a municipal corporation of the State of New York and herein referred to as the "Town,"
HEREBY CERTIFY that on or before September 2, 2010, we officially signed and properly
executed by manual signatures the $5,224,000 Bond Anticipation Note for Various Purposes-
2010 (the "Note") of the Town, payable to JPMorgan Chase Bank, N.A., Melville, New York,
as registered owner, and as otherwise described in Schedule A annexed hereto and by this
reference made a part hereof, and that at the time of such signing and execution and on the date
hereof we were and are the duly chosen, qualified and acting officers of the Town authorized to
execute the Note and holding the respective offices indicated by the titles set opposite our
signatures hereto for terms expiring on the respective dates set opposite such titles.
WE FURTHER CERTIFY that no litigation of any nature is now pending or
threatened restraining or enjoining the issuance or delivery of the Note or the levy or collection
of any taxes to pay the interest on or principal of the Note, or in any manner questioning the
authority or proceedings for the issuance of the Note or for the levy or collection of said taxes, or
relating to the Note or affecting the validity thereof or the levy or collection of said taxes, that
neither the corporate existence or boundaries of the Town nor the title of any of the present
officers thereof to their respective offices is being contested, and that no authority or proceedings
for the issuance of the Note has or have been repealed, revoked or rescinded.
WE FURTHER CERTIFY that the seal which is impressed upon this certificate
(or a facsimile thereof) has been affixed, impressed, imprinted or otherwise reproduced upon the
Note and is the legally adopted, proper and only official corporate seal of the Town.
And I, Scott A. Russell, Supervisor, HEREBY FURTHER CERTIFY that on
September 2, 2010, I delivered or caused the delivery of the Note to JPMorgan Chase Bank,
N.A., Melville, New York„ the purchaser thereof, and that at the time of such delivery of said
Note, the Town received from said purchaser the amount hereinbelow stated, in full payment for
said Note, computed as follows:
Price ......................................................................................$5,224,000.00
Interest on said Note accrued to the
date of such delivery -0-
Amount Received ..................................................................$5,224,000.00
795749.1 033923 CLD
IN WITNESS WHEREOF, we have hereunto set our hands and said corporate
seal has hereunto been affixed this 2nd day of September, 2010.
' afore Term of Office
Ex~es Title
December 31, 2011 Supervisor
' December 31, 2013 Town Clerk
(SEAL)
I HEREBY CERTIFY that the signatures of the officers of the above-named
Town, which appeaz above, aze true and genuine and that I know said officers and know them
to hold the offices set opposite their signatures.
John A. Cushman, II
Town Comptroller
795749.! 033923 CLD
ATTORNEY'S CERTIFICATE
I, Martin Finnegan, Esq., HEREBY CERTIFY that I am a licensed attorney at law
of the State of New York, and am the duly chosen, qualified and acting Town Attorney of the
Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York
and herein referred to as the "Town", that no litigation of any nature is now pending or
threatened restraining or enjoining the issuance or delivery of the $5,224,000 Bond Anticipation
Note for Various Purposes-2010 (the "Note") of the Town, payable to JPMorgan Chase Bank,
N.A., Melville, New York, as registered owner, and as otherwise described in Schedule A
annexed hereto and by this reference made a part hereof, or the levy or collection of any taxes to
pay the interest on or principal of the Note, or in any manner questioning the authority or
proceedings for the issuance of the Note or for the levy or collection of said taxes, or relating to
the Note or affecting the validity thereof or the levy or collection of said taxes, that neither the
corporate existence or boundaries of the Town nor the title of any of the present officers thereof
to their respective offices is being contested, and that no authority or proceedings for the
issuance of the Note has or have been repealed, revoked or rescinded.
I HEREBY FURTHER CERTIFY that there is no controversy or litigation of any
nature now pending or threatened by or against the Town wherein an adverse judgment or ruling
could have a material adverse impact on the financial condition of the Town or adversely affect
the power of the Town to levy, collect or enforce the collection of taxes or other revenues for the
payment of the Note, which has not been disclosed in the Official Statement relating to the Note.
IN WITNESS WHEREOF, I have hereunto set my hand this 2nd day of
September,
Attorney
795749.1 033923 CLD
SCHEDULE A
Amount and Title: $5,224,000 Bond Anticipation Note for Various Purposes-2010
Dated: September 2, 2010
Matures: September 2, 2011
Number: 6R-1, at $5,224,000
Interest Rate
per annum: 0.58%
795749.1 033923 CLD
ARBITRAGE AND USE OF PROCEEDS CERTIFICATE
I, Scott A. Russell, Supervisor of the Town of Southold, in the County of Suffolk,
New York (the "Issuer"), HEREBY CERTIFY and reasonably expect with respect to the
issuance of the Issuer's $5,224,000 Bond Anticipation Note for Various Purposes-2010 (herein
referred to as the "Note" or "Notes"), dated and issued on September 2, 2010, as follows:
Unless the context cleazly requires otherwise, all capitalized terms used but not
otherwise defined herein shall have the meanings set forth in Article II hereof or in the
Resolutions, the Code or the Regulations (each as defined below).
ARTICLE I
General
1.1. Authoritv of Si ng story. I am an officer of the Issuer chazged with the
responsibility for the execution, delivery, and issuance of the Note and am acting for and on
behalf of the Issuer in signing this certificate.
1.2. Purpose of Certificate. This certificate is made for the purpose of
establishing evidence of the expectations of the Issuer as of the date hereof as to future events
regazding the amount and use of proceeds of the Note. It is intended and may be relied upon for
purposes of Sections 103 and 148 of the Internal Revenue Code of 1986, as amended (the
"Code"), and as a certification described in Section 1.148-2(b)(2) of the Treasury Regulations
(the "Regulations"). This certificate is executed and delivered as part of the record of
proceedings in connection with the issuance of the Note. The provisions of this certificate
constitute a contractual obligation of the Issuer in consideration for the purchase of and payment
for the Note by the purchaser(s) thereof.
1.3. Reasonable Exnectations. This certificate sets forth the facts, estimates
and circumstances now in existence which form the basis for the Issuer's expectation that the
proceeds of the Note will not be used in a manner that would cause the Note to be an azbitrage
bond under Section 148 of the Code or a private activity bond under Sections 103 and 141 of the
Code. To the best of my knowledge and belief, such expectation is reasonable and there aze no
other facts, estimates or circumstances that would materially change that expectation.
1.4. Composite Issue. No other governmental obligations have been sold
fewer than 15 days prior to, or will be sold fewer than 15 days after, the sale date of the Note,
pursuant to a common plan of financing which aze expected to be paid from substantially the
same source of funds as the Note.
1.5 No Federal Guazantee. The Issuer represents and covenants that, except
for the gross proceeds of the Note which aze: (a) invested during the temporary period referred to
in Article III, (b) held in any refunding escrow, or (c) invested in obligations of the United States
Treasury or in obligations issued pursuant to Section 21B(d)(3) of the Federal Home Loan Bank
Act, as amended by Section 511(a) of the Financial Institutions Reform, Recovery and
795749.1 033923 CLD
Enforcement Act of 1989, or any successor provision to Section 21B(d)(3) of the Federal Home
Loan Bank Act, as amended:
(i) No portion of the payment of principal or interest with respect to the Note
is or will be guaranteed directly or indirectly by the United States or any
agency or instrumentality thereof (herein "federally guaranteed"); and
(ii) No portion of the gross proceeds of the Note in excess of five percent of
such gross proceeds is or will be (A) used in making loans the payment of
principal or interest with respect to which is to be federally guazanteed, or
(B) invested directly or indirectly in federally insured deposits or
accounts.
1.6. Tax Representation. The Issuer expects to be able to and will comply with
all the procedures and provisions set forth herein, and will do and perform all acts and things
necessary and desirable within its reasonable control in order to assure that interest paid on the
Note shall be excluded from gross income of the owners thereof for the purpose of federal
income taxation.
1.7. Additional Information. The Issuer will provide such other information as
may be required to assure the exclusion from gross income of interest on the Note for federal
income taxation purposes.
1.8. Non-Purpose Investments. Not more than 50% of the proceeds of the
Note are being invested in investments not acquired to carry out the governmental purposes of
the issue at a guazanteed yield and having a term of 4 yeazs or more.
1.9 IRS Information Reporting. The Issuer will make a timely filing of the
appropriate IRS Form 8038G or 8038-GC.
ARTICLE II
Use of Project and Proceeds
2.1. Authorization. (a) The Note is authorized to be issued pursuant to
applicable provisions of the laws of the State of New York and various bond resolutions duly
adopted by the Town Board on their respective dates (the "Resolutions"), as refen•ed to in the
Certificate of Determination executed by the Supervisor on September 2, 2010.
(b) For purposes of this Article II the term "proceeds" means the net amount
(afrer payment of all costs and expenses associated with issuing the Note) received by the Issuer
from the sale of the Note, excluding accrued interest.
2.2. Purpose of Issue. The Note is being issued to provide funds for various
purposes in the Town (the "Project" or "Projects"), as further described in the Resolutions.
795749.1033923 CLD
2.3. Use of Proceeds. A portion of the proceeds of sale of the Note in the
amount of $3,124,000 (the "Current Refunding Note") will be used, together with $714,000
available funds, to redeem prior issues of bond anticipation notes currently outstanding in the
aggregate principal amount of $3,838,000 (the "Prior Issues"), heretofore issued to finance the
Project. The balance of the proceeds of sale of the Note in the principal amount of $2,100,000
(the "New Money Note") will be used to provide original financing for the New Money Projects.
2.4. Ownership/Lease/Sale. The Projects will be owned by the Issuer or
another state or local governmental unit and will not be leased to any person who is not a state or
local governmental unit. It will not (except to the extent that any of the projects financed involve
grants) be sold or otherwise disposed of, in whole or in part, except for incidental sales of surplus
items the proceeds of which will not constitute net operating profits or net capital profits to the
Issuer, prior to the maturity date of the Note.
2.5. Private Loans. Not more than the lesser of 5 percent or $5,000,000 of the
proceeds of the Note will be used directly or indirectly to make loans to persons other than a
governmental unit.
2.6. Private Use. The aggregate amount of proceeds of the Note used directly
or indirectly in a trade or business carried on by a person other than a state or local
governmental unit ("Private Use"), will not exceed 10% of such proceeds in the event that more
than 10% of the principal or 10% of the interest due on the Note during the term thereof is, under
the terms of the Note or any underlying arrangement, directly or indirectly, secured by any
interest in property used or to be used for a Private Use or in payments in respect of property
used or to be used for a Private Use or is to be derived from payments, whether or not to the
Issuer, in respect of property or borrowed money used or to be used for a Private Use.
2.7. Unrelated/Related Disproportionate Use. No more than 5% of the
proceeds of the Note will be used directly or indirectly in the trade or business of a person other
than a governmental unit that is unrelated or related and disproportionate to the governmental use
of the property being financed, including any private loan financing described in Section 2.5
which meets this test. For purposes of this Arbitrage and Use of Proceeds Certificate, proceeds
of the Note aze allocable to an unrelated Private Use if such use is neither directly nor
operationally related to a governmental use and proceeds of the Note are allocable to a
disproportionate related Private Use to the extent that the proceeds of the Note which aze to be
used to finance property used by a nongovernmental person in a trade or business which is
related to the governmental use of the property referred to in Section 2.6 above, exceeds the
proceeds of the Note which are to be used for the governmental use to which such Private Use
relates.
2.8. Other Private Uses Defined. For purposes of Section 2.6 and 2.7, a
Private Use consists of any contract or other arrangement including, without limitation, leases,
management contracts, guazantee contracts, take or pay contracts, or put or pay contracts, which
provides for a use of the Projects by a person or persons who are not State or local govermnents
on a basis different than the general public Any management, or operations contract or
795749.1 033923 CLD
agreement which provides for nongovernmental use will provide for reasonable compensation
which is in no pazt based on net profits and will satisfy the provisions of (a), (b) or (c) below:
(a) for contracts which provide compensation for each annual period based
on a periodic fixed fee, a capitation fee or combination thereof, (i) the contract has a term
(including renewal options) not exceeding five yeazs; (ii) the issuer may terminate the contract,
without penalty, at the end of any three yeaz period, and (iii) at least 50% of the compensation
paid is on a periodic, fixed fee basis;
(b) for contracts entered into or materially modified (other than pursuant to a
renewal option) after March 15, 1993, which provide compensation based on a per unit fee or a
combination per unit and periodic fixed fee, (i) the contract has a term (including renewal
options) not exceeding three yeazs; (ii) the issuer may terminate such contract (without penalty)
at the end of the second year of the term, and (iii) the amount of the per unit fee is specified in
the contract or otherwise limited by the qualified user or a third party;
(c) for contracts entered into or materially modified (other than pursuant to a
renewal option) after Mazch 15, 1993, which provide compensation based on a percentage of
fees charged, (i) the contract has a term (including renewal options) not exceeding two yeazs,
(ii) the issuer may terminate the contract (without penalty) at the end of the first year, and
(iii) the service provider primazily provides services to third pazties or the contract involves a
facility during an initial start-up period;
(d) For purposes of this Section 2.8:
(i) "capitation fee" means a fixed periodic amount paid under a management
contract or agreement for each person for whom the service provider
assumes the responsibility to provide all needed services for a specified
period, provided the quantity and type of services actually provided vary
substantially;
(ii) "periodic fixed fee" means a stated dollaz amount for services rendered
during a specified period of time (i.e. $XX per month) which amount may
automatically increase according to a specified, objective, external standazd;
and
(iii) "per unit fee" means a stated dollar amount for each unit of service
provided (i.e. $XX per medical procedure).
2.9 Pooled Loan Financines. To the extent the amount of proceeds of the
Note to be used to make loans to any borrowers (including loans referred to in Section 2.5 above
and loans to state or local governmental units) exceeds $5,000,000, at least 95% of the net
proceeds of the issue (as defined in Section 150 of the Code but without including proceeds used
to finance costs of issuance or capitalized interest) that aze to be used to make loans, will have
been used within 3 yeazs of the date hereof to make such loans. The payment of legal and
underwriting costs is not contingent and at least 95% of the reasonably expected legal and
underwriting costs associated with issuance will be paid within 180 days of the date hereof.
795749.1 033923 CLD
2.10 Output Facilities. No more than 5% of the proceeds of the Note aze to be
used with respect to any output facility (other than a facility for the furnishing of water). No
more than the lesser of $5,000,000 or 5% of the proceeds of the Note aze to be used (directly or
indirectly) for the acquisition of a nongovenunental output facility.
ARTICLE III
Arbitrage/Rebate Exemption
3.1 Temporary Period-Refundine. With respect to the proceeds of the sale of
the Current Refunding Note representing proceeds allocable to the Prior Issue:
(a) All of the proceeds of the Prior Issue have been expended, or any such
proceeds which have not been expended as of the date hereof, shall become transferred proceeds
of this issue. Such transferred proceeds may be invested without restriction as to yield until three
yeazs after the date of original issuance of the Prior Issue. If any transferred proceeds remain
unexpended after three yeazs after the date of original issuance of the Prior Issue, such proceeds
will be invested at a yield not in excess of the yield on the Note.
(b) The proceeds of the Note will be used to refund the Prior Issue within 90
days of the date hereof, and may be invested during such time without restriction as to yield.
3.2 Temporary Period-New Money. With respect to the New Money Note:
(a) The Issuer has entered into or will enter into within six months from the
date of this certificate, binding commitment(s) for the acquisition, construction or
accomplishment of the New Money Project cited in Section 2.2 hereof, and the amount of such
commitment(s) with respect to such New Money Project will or do exceed the amount equal to
5% of $2,100,000, being the aggregate amount of obligations currently issued for such New
Money Project.
(b) Such New Money Project has been completed, or, if such New Money
Project has not been completed, work on the acquisition, construction or accomplishment of such
New Money Project will proceed or is proceeding with due diligence to completion.
(c) It is reasonably expected that at least 85 percent of the net sale proceeds of
such New Money Note will be expended within three yeazs from the date of this Certificate. No
more than 50 percent of the proceeds of the Note will be invested in nonpurpose investments
with a term of four years or more.
3.3 Rebate. (a) Neither the Prior Issue nor the New Money Note was or is
subject to the rebate requirement imposed by Section 148 of the Code because, with respect to
each:
(i) the Issuer was or is a governmental unit with general taxing powers;
(ii) the Prior Issue/New Money Note did not or does not constitute a "private
activity bond" as that term is defined in Section 141 of the Code;
795749.1 033923 CLD
(iii) ninety-five percent or more of the net proceeds of the sale of the Prior
Issue/New Money Note was or is to be used for local governmental
activities of the Issuer; and
(iv) the Issuer (including all agencies, instrumentalities and political
subdivisions of the Issuer) reasonably expected or expects that the
aggregate face amount of all tax-exempt bonds issued by the Issuer during
the calendaz yeaz in which the Prior Issue was issued and the current
calendar year would not or will not exceed $5,000,000. For purposes of
such determination, no tax-exempt obligation was or shall be taken into
account if it was or is a current refunding obligation issued in the calendaz
year in which the Prior Issue/New Money Note (as applicable) was or is
being issued which does not exceed the outstanding (redeemed) principal
amount of the obligation to be refunded.
(b) The Current Refunding Note is not subject to the rebate requirement
imposed by Section 148 of the Code because all of the Gross Proceeds of such Current
Refunding Note will be expended to pay the Prior Issue within 90 days of the date hereof and
will, therefore, qualify for the six-month expenditure exception to rebate.
3.4 No Excess Proceeds. The total proceeds of sale of all bond anticipation
notes issued to date for the Project do not exceed the total cost of the Project.
3.5 Source of Repayment Funds. The Note will be paid from taxes and the
proceeds of other obligations of the Issuer issued to fund the Note.
3.6 Debt Service Fund. The taxes used to pay principal and interest on the
Note, whether or not deposited in a debt service fund, will be expended within 13 months of the
date of deposit in such fund, or the date of their accumulation, in the payment of debt service on
the Note. Any amounts received from the investment of such deposit or accumulation will be
expended within one yeaz of receipt. The debt service fund, if any, will be used to achieve a
proper matching of revenues and debt service and will be depleted at least annually except for a
reasonable carryover amount which will not exceed the greater of the earnings on such fund for
the immediately preceding year orone-twelfth of the debt service on the Note.
3.7 Sinking Funds. Except for the debt service fund described herein the
Issuer has not created or established, and does not expect to create or establish, any sinking fund
or other similar fund which the Issuer reasonably expects to use to pay principal or interest on
the Note.
ARTICLE IV
Bank Qualification
4.1 Desi ation. The Note is hereby designated as a "qualified tax-exempt
obligation" pursuant to the provisions of Section 265 of the Code.
795749.1 033923 CLD
(a) In making such designation it has been determined with respect to the
Current Refunding Note that:
(i) the Note can-ently refunds the Prior Issue;
(ii) the Prior Issue was designated as a "qualified tax-exempt obligation";
(iii) the aggregate face amount of the Note does not exceed $30,000,000;
(iv) the Prior Issue had a weighted average maturity of 3 yeazs or less;
(v) the maturity date of the Note, as measured from the original date of
issuance of the notes issued pursuant to the Resolutions, in renewal of
which such Note is being issued, does not exceed 30 yeazs; and
(vi) not more than $30,000,000 of obligations issued by the Issuer during the
calendaz year in which the Prior Issue was issued were designated by the
Issuer as "qualified tax-exempt obligations."
(b) In making such designation it has been determined with respect to the
New Money Note that:
(i) the Issuer does not reasonably anticipate that the amount of "qualified tax-
exempt obligations" to be issued by the Issuer during the current calendaz
yeaz will exceed $30,000,000; and
(ii) the amount of "qualified tax-exempt obligations" issued by the Issuer
during the current calendaz year does not as of this date, and including this
issue, exceed $30,000,000.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
corporate seal of the Town of Southold, as of the
2nd day of September, 2010.
Q t~~~
(SEAL) Supervisor
795749.1 033923 CLD
CERTIFICATE WITH RESPECT TO THE OFFICIAL
STATEMENT OF THE TOWN OF SOUTHOLD, NEW YORK,
DISTRIBUTED IN CONNECTION WITH THE SALE AND
ISSUANCE OF A $5,224,000 BOND ANTICIPATION NOTE
FOR VARIOUSPURPOSES-2010
I, Scott A. Russell, the undersigned Supervisor of the Town of Southold (the
"Town"), in the County of Suffolk, New York, HEREBY CERTIFY that on August 17, 2010,
the date of the Official Statement of the Town prepazed in connection with the sale of the
$5,224,000 Bond Anticipation Note for Various Purposes-2010 (the "Note"), of the Town, and at
all times subsequent thereto up to and including September 2, 2010, the date of delivery of the
Note, the attached Official Statement of the Town did not and does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading. In
addition, I FURTHER CERTIFY that there has been no adverse material change in the financial
condition of the Town since August 17, 2010.
Insofaz as any statements made in said Official Statement involve matters of
opinion, estimates or statements as to matters not contained in or derived from the official
records of the Town, whether or not expressly stated, they aze set forth as such and not as
representations of fact by the Town, and no representation is made that any of the estimates or
anticipated events will be realized. The Official Statement is not to be construed as a contract or
agreement with the beneficial owners of the Note.
IN WITNESS WHEREOF, I have hereunto set my signature and affixed the
corporate seal of the Town as of the 2nd day of
September, 2010
(SEAL) C~
Supervisor
r _ _
#8389
STATE OF NEW YORK)
SS:
COUNTY OF SUFFOLK)
Dina Mac Donald of Mattituck, in said county, being duly sworn,
says that he/she is Principal clerk of THE SUFFOLK TIMES, a weekly
newspaper, published at Mattituck, in the Town of Southold, County of Suffolk
and State of New York, and that the Notice of which the annexed is a printed
copy, has been regularly published in said Newspaper once each week for
7 week(s), successively, commencing on the is' day of May. 2007.
Principal Clerk
Sworn to before me this ` day
2007 f ~1 , r
l' G (~t,' Dl~ l~~ J 1, V ? ~ l
CHRISTINA VOLINSKI
NOTARY PUBLIC-STATE OF NEW YORK
No. O 1-VO6106060
9uolifi®o In Suffolk County
^ommleelon Ezplres February 26, 2D08
at 269 Peconic Lane, in r..wn, includ-
ing demohtion of the existing shelter,
purchase of the original furnishings
equipment, machinery and apparatus
required and grading and improving
the site; STATING the estimated maxi-
mum cos[ thereof, including preliminary
costs and costs incidental thereto and
the financing thereof, is $3,300,000; AP-
PROPRIATING said amount therefor,
including the appropriation of $280,000
from moneys held in [rust far the pur-
pose of constructing a Town animal
shelter and STATING the plan of fi-
nancingincludes the expenditure of said
moneys held in [rust, the issuance of not
[o exceed $3,020,000 serial bonds of the
Town to finance the balance of said ap-
propriation and the lery and collection
of taxes on all the taxable real property
in the Town to pay [he principal of said
bonds and the interest thereon as the
same shall become due and payable;
SECOND: AUTHORIZING the is-
suance of not [o exceed $3,020,0[10 se-
rial bonds of the Town pursuant to the
Local Finance Law of [he State of New
York (the "Law") to finance the balance
of said appropriation;
THIRD: DETERMINING and
STATING the period of probable use-
fulness applicable to said shelter, the
purpose for which said serial bonds are
authorized [o be issued, is [weoty-five
(25) years; [he proceeds of said bonds
and any bond anticipation notes issued
in anticipation [hereof may be applied
[o reimburse the Town for expendi-
tures made after the effective date of
[his bond resolution for the purpose for
which said bonds are authorized; the
Town Board of the Town has heretofore
determined [hat the project is an Unlist-
ed action pursuant [o SEORA; and [he
proposed maturity of said $3,02Q,000 se-
rialbonds will exceed five (5) years;
FOURTH: DETERMINING that
said bonds and any bond anticipation
notes issued in anticipation of said
bonds and [he renewals of said bond
anticipation notes shall be general ob-
ligations of the Town; and PLEDGING
[o their payment the faith and credit of
[he Town;
FIFTH: DELEGATING to [he Su-
LEGAL NOTICE pervisor the powers and duties as [o the
TOWN OF SOUTHOLD. issuance of said bonds and any bond an-
NEWYORK ticipation notes issued in anticipation of
PLEASE TAKE NOTICE that on said bonds, or the renewals [hereof; and
May 22, 2007, the Town Board of [he SIXTH: DETERMINING that the
Town of Southold, in [he County of bond resolution is subject [o a permis-
Suffolk, New Yolk, adopted the reso- sive referendum.
lotion amending the Bond Resolution DATED: May 22, 2007
which, as amended, is entitled: BY ORDER OFTHE
"BOND RESOLUTION OF THE TOWN BOARD OF THE TOWN
TOWN OF SOUTHOLD, NEW OF SOUTHOLD,000NTY OF
YORK, ADOPTED AUGUST 16, SUFFOLK, STATE OF NEW YORK
2005, AND AMENDED MAY 22, 2007 Town of Southold, New York
AUTHORIZING THE CONSTRUC- Elizabeth A. Neville
TION OF A NEW TOWN ANIMAL Town Clerk
SHELTER, IN SAID TOWN, STAT- 8~-1T Si31
ING THE ESTIMATED MAXIMUM
COST THEREOF IS $3,300,000, AP-
PROPRIATING SAID AMOUNT
THEREFOR, INCLUDING THE AP-
PROPRIATION OF $280,000 HELD
IN TRUST AND AUTHORIZING
THE ISSUANCE OF $3,020,0(10 SE-
RIAL BONDS OF SAID TOWN TO
FINANCE THE BALANCE OF SAID
APPROPRIATION"
an abstract of said Bond Resolu-
tion, as amended, concisely stating the
purpose and effect thereof, being as fol-
lows:
FIRST: AUTHOR[ZING the Town
of Southold ("Towel') to construct a
new Town animal shelter on the site
of the existing animal shelter located
` ~
~r"
ELIZABETH A. NEVILLE _ ~ ' Town Hall, 53095 Main Road
TOWN CLEBH ~ P.O. Box 1179
REGISTRAR OF VITAL STATISTICS ~ A~, Southold, New York 11971
a°.3. ~a-
MARRIAGE OFFICER , sa Fax (631) 765-6145
RECORDS MANAGEMENT OFFICER .'T~'r - Telephone (631)765-1800
FREEDOM OF INFORMATION OFFICER ~ rf1(t , _,`a~ southoldtown.northfork.net
es~
OFFICE OF THE TOWN CLERK
TOWN OF SOUTHOLD
August 24, 2007
Town of Southold, New York
Animal Shelter
Our File Desienation: (2615/237251
Gerazd Fernandez, Jr. Esq.
Hawkins, Delafield & Wood
One Chase Manhattan Plaza
New York, NY 10005
Deaz Gerazd Fernandez, Jr. Esq.,
Enclosed find the affidavit of publishing for the above referenced file.
If there is anything else you require at this time for your files, please contact me at the Town
Clerk's office.
Very truly yours,
--~rn~.
Lynda M Bohn
Deputy Town Clerk
Enc
Cc: John Cushman, comptroller
Town Attorney
#8481
STATE OF NEW YORK)
SS:
COUNTY OF SUFFOLK)
Dina MacDonald of Mattituck, in said county, being duly sworn,
says that he/she is Principal clerk of THE SUFFOLK TIMES, a weekly
newspaper, published at Mattituck, in the Town of Southold, County of Suffolk
and State of New York, and that the Notice of which the annexed is a printed
copy, has been regularly published in said Newspaper once each week for
1 week(s), successively, commencing on the 9T" day of August, 2007.
C % :l ~ 1QC~~~
Principal Clerk
Sworn to before me this / day of
2007
i
C RISr~h1R VOLINSKI
~ NOTARY "rUBLIC -StA?E OF NEW YORK
Np. 0'; ~JOb105050
Q~,latiflatl L'r Suitolk County
Commission Exp~ros February 28, 2008
I
i
ti
I1
ii
i
and posted as required by law and the Objeet or purpose: to construct a new
period of time has elapsed for the sub- Town animal shelter op -the wte of the
mission and filing of a petition for aper- existing.'animal shelter located at 269
missive referendum and a valid petition Peconic Lane, in the Town of Southold,
has no[ been-submitted and filed. The including demolition oftheexis[ingshel-
validity of the obligations authorized ter, purchase of the original furnishings
by such resolution may be hereafter equipment, machinery and apparatus
contested only if such obligations were required and grading and hnproving the
authorized for an object or purpose site at the estimated maximum cost of
for which the Town of Southold, in the $3,300,000; appropriating said amount
i County of Suffolk, New York, is not au- therefor, including $280,000 held in [rust
-i thorized [o expend money or if [he pro- for. such purpose and stating that con-
~ visions of law which should have been swction of said new animal shelter has
compiled with as of the date of publics- been determined to be an Unlisted Ac-
tion of this notice were not substantially tion pursuant to SERAA and a Negative
complied with, and an action, suit or .Declaration has been adopted and filed
proceeding mn[esting such validity is Ammon[ of obligations [o be issued:
commenced within twenty days after the $3,020,000
date of publication of the notice, or such ~ period of probable usefulness: [wen-
obligations were authorized in violation ty-five (25) years
of the provisions of the constitution. A complete wpy of the bond resolu-
Elizabe[hANeville [ion summarized above shall be avail-
Town Clerk able forpublic inspection during normal
BOND RESOLUTION OF THE business hours a[ the office of the Town
TOWN OF SOUTHOLD,NEW YORK, Clerk, at the Town Hall, 53095 Main
ADOPTED AUGUST 16, 2005, AND Street, Southold, New York.
AMENDED MAY 22, 2007 AUTHO- Dated: May 22, 2007
RIZING THE CONSTRUCC[ON-OFSouthold, New York
A NEW TOWN ANIMAL SHELTER, By ORDER OF THE
IN SAID TOWN,STATINGTHE ESTI- 'TOWN BOARD OF
MATED MAXIMUM COST THERE- THE TOWN OF SOUTHOLD,
OF IS $3,300,000, APPROPRIATING - COUNTYOF SUFFOLK,
LEGAL NOTICE .SAID AMOUNT TFIffiREFOR, IN-
!YffiS:E CLUDING THE APPROPRIATION ' STATE OF NEW YORK
The Bond Resolution, a summary of OF $280,000 HELD IN TRUST. AND Elizabeth A. Neville
which is published herewith, has been AUTHORIZINGTHEISSUANCE DF - Southold Town Clerk
amended pursuant to the resolution ad- $3,020,000 SERIAL BONDS ~ SAID 8661-rj Sl4
opted on the 22nd day of May, 2007, and TOWN 1'O FINANCE THE BAL.
an abstract thereof has been published ANCE OF SAm.APP10DPItIATION.. Roc t....~e
i
i
I
"il
DELAFIELD&WOOD~~P
RECEIVED
PHONE (212)H2O-9300 ONE CHASE MANHATTAN PLAZA NEW YORK
FAX (212) 514-8425 NEW YORK, NY 10005 AUG ~ ~ ~7 WASHINGTON
WWW.HAWKINS.COM NEWARK
HARTFORD
LOS ANGELES
SACRAMENTO
Southold Town Clerk SAN FRANCISCO
Writer's direct contact:
Phone: 212-820-9416
Fax: 212-820-9651
E-mail: gfernandez@hawkins.com
Augast 9, 200^
Town of Southold, New York
$3,000,000 Serial Bonds for Animal Shelter
(Our File Designation: 26 1 5/23 72 5
Lynda M. Bohn
Deputy Town Clerk
P.O. Box 1179
Southold, New York 11971
Deaz Ms. Bohn:
Thank you for your letter dated July 31s`, enclosing a copy of the Notice sent to
the newspaper and the Certificate of No Referendum.
The Certificate has been included in our files. We now await receipt of the
Affidavit of Publication.
~Jith kind regazds, I remain
Crerazd Fernandez, Jr.
GFjr/jc
528113.1 023725 LTR
a • NOTICE
The Bond Resolution, a summary of which is published herewith, has
been amended pursuant to the resolution adopted on the 22"d day of May, 2007,
and an abstract thereof has been published and posted as required by law and the
period of time has elapsed for the submission and filing of a petition for a
permissive referendum and a valid petition has not been submitted and filed. The
validity of the obligations authorized by such resolution may be hereafter
contested only if such obligations were authorized for an object or purpose for
which the Town of Southold, in the County of Suffolk, New York, is not
authorized to expend money or if the provisions of law which should have been
compiled with as of the date of publication of this notice were not substantially
complied with, and an action, suit or proceeding contesting such validity is
commenced within twenty days after the date of publication of the notice, or such
obligations were authorized in violation of the provisions of the constitution.
Elizabeth A Neville
Town Clerk
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED AUGUST 16, 2005, AND AMENDED MAY
22, 2007 AUTHORIZING THE CONSTRUCTION OF A NEW
TOWN ANIMAL SHELTER, IN SAID TOWN, STATING THE
ESTIMATED MAXIMUM COST THEREOF IS $3,300,000,
APPROPRIATING SAID AMOUNT THEREFOR, INCLUDING
THE APPROPRIATION OF $280,000 HELD IN TRUST AND
AUTHORIZING THE ISSUANCE OF $3,020,000 SERIAL
BONDS OF SAID TOWN TO FINANCE THE BALANCE OF
SAID APPROPRIATION.
Object or purpose: to construct a new Town animal shelter on
the site of the existing animal shelter located
at 269 Peconic Lane, in the Town of
Southold, including demolition of the
existing shelter, purchase of the original
furnishings equipment, machinery and
apparatus required and grading and
improving the site at the estimated maximum
cost of $3,300,000; appropriating said
amount therefor, including $280,000 held in
trust for such purpose and 'stating that
construction of said new animal shelter has
been determined to be an Unlisted Action
pursuant to SEQRA and a Negative
Declaration has been adopted and filed
Amount of obligations
to be issued: $3,020,000
Period of probable
usefulness: twenty-five (25) years
A complete c~y of the bond resolution summarized. ve shall be available for public
inspection during normal business hours at the office of the Town Clerk, at the Town
Hall, 53095 Main Street, Southold, New York.
Dated: May 22, 2007
Southold, New York
BY ORDER OF THE TOWN BOARD OF THE TOWN OF SOUTHOLD, COUNTY
OF SUFFOLK, STATE OF NEW YORK
Elizabeth A. Neville
Southold Town Clerk
PLEASE PUBLISH ON AUGUST 9, 2007 AND FORWARD THREE (3)
AFFIDAVITS OF PUBLICATION TO ELIZABETH A. NEVILLE, TOWN
CLERK, TOWN HALL, P.O. BOX 1179, SOUTHOLD, NY 11971
Copies to the following:
The Suffolk Times Town Boazd Members Town Attorney
Comptroller Bond Counsel
Town Clerk's Bulletin Boazd
STATE OF NEW YORK )
SS:
COUNTY OF SUFFOLK)
ELIZABETH A. NEVILLE,pTown Clerk of the Town of Southold, New York being
duly sworn, says that on the 1 day of , 2007, she affixed a
notice of which the annexed printed notice is a true copy, in a proper and substantial
manner, in a most public place in the Town of Southold, Suffolk County, New York, to
wit: Town Clerk's Bulletin Board, 53095 Main Road, Southold, New York.
Animal Shelter Bond Adoption
abeth A. Neville
Southold Town Clerk
Sy~or~ before this
``II day of ~,~u~. u ~~2007.
otary Public
LYNDA M. BOHN
NOTARYNo. Ot 806020932 ~ Yutk
Qualified in Suffolk Cou
Term Expires March 8, 20
CERTIFICATE OF CLERK
I, ELIZABETH A. NEVII,LE, Town Clerk of the Town of Southold, in the
County of Suffolk, State of New York, HEREBY CERTIFY as follows:
That the Bond Resolution of the Town Board of the Town of Southold, in the
County of Suffolk, State of New York, entitled:
"BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED AUGUST 16, 2005, AND AMENDED MAY
22, 2007 AUTHORIZING THE CONSTRUCTION OF A NEW
TOWN ANIMAL SHELTER, IN SAID TOWN, STATING THE
ESTIMATED MAYIMiJM COST THEREOF IS $3,300,000,
APPROPRIATING SAID AMOUNT THEREFOR, INCLUDING
THE APPROPRIATION OF $280,000 HELD IN TRUST AND
AUTHORIZING THE ISSUANCE OF $3,020,000 SERIAL
BONDS OF SAID TOWN TO FINANCE THE BALANCE OF
SAID APPROPRIATION,"
as amended pursuant to resolution adopted by the Town Boazd on May 22, 2007, and the notice
setting forth the date of adoption of the Bond Resolution, as amended, and containing an abstract
thereof, which concisely stated its purpose and effect, was duly posted and published as required
by law.
That no petition signed and acknowledged by the electors of the Town protesting
against said Bond Resolution, as amended, and requesting that it be submitted to the qualified
electors of the Town for their approval or disapproval has been filed with the Town Clerk within
thirty days after the date of the adoption thereof, or at any other time since said adoption.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
corporate seal of said Town this a~ day of June,
2007.
Town Clerk
(SEAL) Town Clerk
479412.1023725 RES
r • NOTICE •
The Bond Resolution, a summary of which is published herewith, has
been amended pursuant to the resolution adopted on the 22"d day of May, 2007,
and an abstract thereof has been published and posted as required by law and the
period of time has elapsed for the submission and filing of a petition for a
permissive referendum and a valid petition has not been submitted and filed. The
validity of the obligations authorized by such resolution may be hereafter
contested only if such obligations were authorized for an object or purpose for
which the Town of Southold, in the County of Suffolk, New York, is not
authorized to expend money or if the provisions of law which should have been
compiled with as of the date of publication of this notice were not substantially
complied with, and an action, suit or proceeding contesting such validity is
commenced within twenty days after the date of publication of the notice, or such
obligations were authorized in violation of the provisions of the constitution.
Elizabeth A Neville
Town Clerk
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED AUGUST 16, 2005, AND AMENDED MAY
22, 2007 AUTHORIZING THE CONSTRUCTION OF A NEW
TOWN ANIMAL SHELTER, IN SAID TOWN, STATING THE
ESTIMATED MAXIMUM COST THEREOF IS $3,300,000,
APPROPRIATING SAID AMOUNT THEREFOR, INCLUDING
THE APPROPRIATION OF $280,000 HELD IN TRUST AND
AUTHORIZING THE ISSUANCE OF $3,020,000 SERIAL
BONDS OF SAID TOWN TO FINANCE THE BALANCE OF
SAID APPROPRIATION.
Object or purpose: to construct a riew Town animal shelter on
the site of the existing animal shelter located
at 269 Peconic Lane, in the Town of
Southold, including demolition of the
existing shelter, purchase of the original
furnishings equipment, machinery and
apparatus required and grading and
improving the site at the estimated maximum
cost of $3,300,000; appropriating said
amount therefor, including $280,000 held in
trust for such purpose and stating that
construction of said new animal shelter has
been determined to be an Unlisted Action
pursuant to SEQRA and a Negative
Declaration has been adopted and filed
Amount of obligations
to be issued: $3,020,000
Period of probable
usefulness: twenty-five (25) years
A complete co~f the bond resolution summarized ab~ shall be available for public
inspection during normal business hours at the office of the Town Clerk, at the Town
Hall, 53095 Main Street, Southold, New York.
Dated: May 22, 2007
Southold, New York
BY ORDER OF THE TOWN BOARD OF THE TOWN OF SOUTHOLD, COUNTY
OF SUFFOLK, STATE OF NEW YORK
Elizabeth A. Neville
Southold Town Clerk
PLEASE PUBLISH ON Juue 28, 2007 AND FORWARD THREE (3) AFFIDAVITS
OF PUBLICATION TO ELIZABETH A. NEVILLE, TOWN CLERK, TOWN
HALL, P.O. BOX 1179, SOUTHOLD, NY 11971
Copies to the following:
The Suffolk Times Town Boazd Members Town Attorney
Comptroller Bond Counsel
Town Clerk's Bulletin Boazd
STATE OF NEW YORK )
SS:
COUNTY OF SUFFOLK)
ELIZABETH A. NEVILLE, Town Clerk oft e Town of Southold, New York being
duly sworn, says that on the ~ ~ day of , 2007, she affixed a
notice of which the annexed printed notice is a e copy, in a proper and substantial
manner, in a most public place in the Town of Southold, Suffolk County, New York, to
wit: Town Clerk's Bulletin Boazd, 53095 Main Road, Southold, New York.
2007 Land Preservation bond
Elizabeth A. Nevi 1
Southold Town Clerk
Sworn before me this
day of , 2007.
1
tazy Public
LYNDA M. BOHN
NOTARY PUBLIC, State of New York
N0.01B06020932
Qualified in Suffolk Coun
Term Expires March 8, 20
DELAFIELD&WOOD~~P ~ , ,
-
PHONE (212) 820-9300 ONE CHASE MANHATTAN PLAZA NEW YORK
FAX (212) 514-8425 NEW YORK, NY 10005 WASHINGTON
W W W.HAWKINS.COM NEWARK
HARTFORD
LOS ANGELES
SACRAMENTO
SAN FRANCISCO
(212) 820-9416 June 13, 2007
Town of Southold, New York
$3,000,000 Serial Bonds for Animal Shelter
(Our File Desi,pnation: 2615/23725
Mr. Kieran Corcoran
Deputy Town Attorney
Town of Southold
53095 Main Road
Southold, New York 11971
Deaz Kieran:
The Amended Bond Resolution authorizing the above bonds takes effect thirty
(30) days after its adoption and thereafter is to be published, in summary, in the official
newspaper together with the prescribed statutory form of notice thereby commencing a 20-day
statute of limitations period pursuant to the provisions of Section 80.00 et seq. of the Local
Finance Law.
With reference thereto, I have prepared and enclose herewith the following:
(a) Certificate of the Town Clerk as to no petition for a Referendum
(b) Summary of the Amended Bond Resolution with the prescribed
form of Town Clerk's statutory notice affixed in readiness for
publication.
Please do not hesitate to call or write me if you have any questions regazding the
enclosed documents.
Kindly send me an executed copy of the Certificate of No Referendum and an
original Affidavit of Publication, when available.
Thanking you and with kind regazds, I rem ' F
Sinc y rs,
azd emandez, Jr.
GF,Jr./jc
Enclosures
cc: John Cushman, Town Comptroller
479412.1023725 RES
~ o~~oF so~ryol ~
ELIZABETH A. NEVILLE ~ Town Hall, 53095 Main Road
TOWN CLERK * ~ P.O. Box 1179
REGISTRAR OF VITAL STATISTICS Southold, New York 11971
MARRIAGE OFFICER ~ ~0 Fax (631) 765-6145
RECORDS MANAGEMENT OFFICER O~i/ Y '~V Telephone (631) 765-1800
FREEDOM OF INFORMATION OFFICER ~~Ir„+ southoldtown.northfork.net
OFFICE OF THE TOWN CLERK
TOWN OF SOUTHOLD
June 18, 2007
Town of Southold, New York
$3,000,000 Serial Bonds for Animal Shelter
(Our File Desienation: 2615/23725)
Gerard Fernandez, Jr. Esq.
Hawkins, Delafield & Wood
67 Wall Street
New York, NY 10005
Dear Gerard Fernandez, Jr. Esq.,
Enclosed find the Extract of Minutes, affidavit of publishing and posting by the Town Clerk.
If there is anything else you require at this time for your files, please contact me at the Town
Clerk's office.
Very truly yours,
Lynda M Bohn
Deputy Town Clerk
Enc
Cc: John Cushman, comptroller
Town Attorney
STATE OF NEW YORK )
:ss:
COUNTY OF SUFFOLK )
ELIZABETH A. NEVILLE, being duly sworn, deposes and says:
That she is and at all times hereinafter mentioned she was the duly elected,
qualified and acting Town Clerk of the Town of Southold, State of New York;
That on May 30 , 2007, she has caused to be conspicuously posted and fastened
up a Notice setting forth an abstract of the Bond Resolution as amended pursuant to the
resolution adopted by the Town Board on May 22, 2007, a copy of which Notice is annexed
hereto and made a part hereof, on the sign board of the Town maintained pursuant to the Town
Law.
Town Clerk
Subscribed and sworn to before me
this 3~ day of May, 2007.
Notary Public, State of New York
LYNDA M. BOHN
NOTARY PUBLIC, State of New Wtk
No.OtB06020932
Qualified in Suffolk County
Term Expires March 8, 20,J~,„
Error! Unknown document property name.
' Southold Town Board - Let Boa~fMeeting of May 22, 2007
RESOLUTION 2007-489 Item # 25
ADOPTED DOC ID: 2917
THIS IS TO CERTIFY THAT THE FOLLOWING RESOLUTION N0.2007-489 WAS
ADOPTED AT THE REGULAR MEETING OF THE SOUTHOLD TOWN BOARD ON
MAY 22, 2007:
RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK,
ADOPTED MAY 22, 2007, AMENDING THE SERIAL BOND
RESOLUTION ADOPTED BY THE TOWN BOARD OF SAID TOWN
ON AUGUST 16, 2005 AUTHORIZING THE CONSTRUCTION OF A
NEW TOWN ANIMAL SHELTER, IN SAID TOWN.
THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF
SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote of not less than two-
thirds of all the members of said Town Board) AS FOLLOWS:
The Town Boazd of the Town of Southold, in the County of Suffolk, New York
(herein called the "Town Board" and the "Town", respectively), hereby amends the Bond
Resolution entitled:
"BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED AUGUST 16, 2005, AUTHORIZING THE
CONSTRUCTION OF A NEW TOWN ANIMAL SHELTER, IN SAID
TOWN, STATING THE ESTIMATED MAXIMUM COST THEREOF IS
$2,600,000, APPROPRIATING SAID AMOUNT THEREFOR, AND
Generated May 24, 2007 Page 31
Southold Town Board - ~er )~d Meeting of May 22, 2007 '
AUTHORIZING THE ISSUANCE OF $2,600,000 SERIAL BONDS OF
SAID TOWN TO FINANCE SAID APPROPRIATION,"
duly adopted by the Town Board on August 16, 2005, to read as follows:
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK,
ADOPTED AUGUST 16, 2005, AND AMENDED MAY 22, 2007
AUTHORIZING THE CONSTRUCTION OF A NEW TOWN ANIMAL
SHELTER, IN SAID TOWN, STATING THE ESTIMATED
MAXIMUM COST THEREOF IS $3,300,000, APPROPRIATING SAID
AMOUNT THEREFOR, INCLUDING THE APPROPRIATION OF
$280,000 HELD IN TRUST AND AUTHORIZING THE ISSUANCE OF
$3,020,000 SERIAL BONDS OF SAID TOWN TO FINANCE THE
BALANCE OF SAID APPROPRIATION
THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF
SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote of not less than two-
thirds of all the members of said Town Board) AS FOLLOWS:
The Town of Southold, in the County of Suffolk, New York (herein called the
"Town"), is hereby authorized to construct a new Town animal shelter on the site of the existing
animal shelter located at 269 Peconic Lane, in the Town, including demolition of the existing
animal shelter, purchase of the original furnishings, equipment, machinery and apparatus
required for the purpose for which said new shelter is to be used and grading and improving the
site. The estimated maximum cost of said specific object or purpose, including preliminary costs
Generated May 24, 2007 Page 32
' Southold Town Board - Lett• Bo•Meeting of May 22, 2007
and costs incidental thereto and to the financing thereof, is $3,300,000 and the said amount is
hereby appropriated therefor, including the appropriation of $280,000 from moneys held in trust
for the purpose of constructing a Town animal shelter. The plan of financing includes the
expenditure of said moneys held in trust, the issuance of not to exceed $3,020,000 serial bonds of
the Town to finance the balance of said appropriation and the levy and collection of taxes upon
all the taxable real property in the Town to pay the principal of said bonds and the interest
thereon as the same shall become due and payable.
Serial bonds of the Town in the principal amount of not to exceed $3,020,000 are
hereby authorized to be issued pursuant to the provisions of the Local Finance Law, constituting
Chapter 33-a of the Consolidated Laws of the State of New York (herein called the "Law"), to
finance the balance of said appropriation.
The following additional matters are hereby determined and declared:
(a) Said new shelter will be of Class "B" construction as defined by Section
11.00 a. 11.(b) of the Law and the period of probable usefulness applicable thereto for which
said bonds aze authorized to be issued, within the limitations of said Section 11.00 a. 11(b) of the
Law, is twenty-five (25) years.
(b) The proceeds of the bonds herein authorized, and any bond anticipation
notes issued in anticipation of said bonds, may be applied to reimburse the Town for
expenditures made after the effective date of this resolution for the purpose for which said bonds
are authorized. The foregoing statement of intent with respect to reimbursement is made in
conformity with Treasury Regulation Section 1.150-2 of the United States Treasury Department.
(c) The Town Board of the Town, acting in the role of Lead Agency pursuant
to the provisions of the New York State Environmental Quality Review Act, constituting Article
Generated May 24, 2007 Page 33
Southold Town Board -)~er )~d Meeting of May 22, 2007 '
8 of the Environmental Conservation Law, and 6 N.Y.C.R.R., Regulations Part 617 ("SEQRA")
has heretofore determined that the project described herein is an Unlisted Action pursuant to
SEQRA. The Town Board has reviewed a Full Environmental Assessment Form and has
determined that the project will not result in any significant adverse environmental impact and a
negative declazation has been adopted and filed.
(d) The proposed maturity of the bonds authorized by this resolution will
exceed five (5) years.
Each of the bonds authorized by this resolution, and any bond anticipation notes
issued in anticipation of the sale of said bonds, shall contain the recital of validity as prescribed
by Section 52.00 of the Law and said bonds, and any notes issued in anticipation of said bonds,
shall be general obligations of the Town, payable as to both principal and interest by general tax
upon all the taxable real property within the Town without limitation of rate or amount. The
faith and credit of the Town aze hereby irrevocably pledged to the punctual payment of the
principal of and interest on said bonds, and any notes issued in anticipation of the sale of said
bonds, and provision shall be made annually in the budget of the Town by appropriation for (a)
the amortization and redemption of the bonds and any notes in anticipation thereof to mature in
such yeaz and (b) the payment of interest to be due and payable in such yeaz.
Subject to the provisions of this resolution and of the Law and pursuant to the
provisions of Section 21.00 relative to the authorization of bonds with substantially level or
declining annual debt service, Section 30.00 relative to the authorization of the issuance of bond
anticipation notes and Section 50.00 and Sections 56.00 to 60.00 of the Law, the powers and
duties of the Town Boazd relative to authorizing bond anticipation notes and prescribing the
terms, form and contents and as to the sale and issuance of the bonds herein authorized, and of
Generated May 24, 2007 Page 34
' Southold Town Boazd - Le• Bo•Meeting of May 22, 2007
any bond anticipation notes issued in anticipation of said bonds, and the renewals of said bond
anticipation notes, are hereby delegated to the Supervisor, the chief fiscal officer of the Town.
The validity of the bonds authorized by this resolution, and of any notes issued in
anticipation of the sale of said bonds, may be contested only if:
such obligations are authorized for an object or purpose for which the Town is not
authorized to expend money, or
the provisions of law which should be complied with at the date of the publication
of such resolution, or a summary thereof, aze not substantially complied with,
and an action, suit or proceeding contesting such validity is commenced within twenty days after
the date of such publication, or
(c) such obligations aze authorized in violation of the provisions of the
constitution.
This bond resolution is subject to a permissive referendum and the Town Clerk is
hereby authorized and directed, within ten (10) days after the adoption of this resolution, to cause
to be published in the "THE SUFFOLK TIMES," a newspaper published in Mattituck, in the
Town of Southold, New York and hereby designated the official newspaper for such publication
and posted on the sign boazd of the Town maintained pursuant to the Town Law, a Notice in
substantially the following fonn:
Generated May 24, 2007 Page 35
Southold Town Boazd - L~er )~d Meeting of May 22, 2007 '
TOWN OF SOUTHOLD. NEW YORK
PLEASE TAKE NOTICE that on May 22, 2007, the Town Boazd of the Town of
Southold, in the County of Suffolk, New York, adopted the resolution amending the Bond
Resolution which, as amended, is entitled:
"BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED AUGUST 16, 2005, AND AMENDED MAY 22,
2007 AUTHORIZING THE CONSTRUCTION OF A NEW TOWN
ANIMAL SHELTER, IN SAID TOWN, STATING THE ESTIMATED
MAXIMUM COST THEREOF IS $3,300,000, APPROPRIATING SAID
AMOUNT THEREFOR, INCLUDING THE APPROPRIATION OF
$280,000 HELD IN TRUST AND AUTHORIZING THE ISSUANCE OF
$3,020,000 SERIAL BONDS OF SAID TOWN TO FINANCE THE
BALANCE OF SAID APPROPRIATION"
an abstract of said Bond Resolution, as amended, concisely stating the purpose and effect
thereof, being as follows:
FIRST: AUTHORIZING the Town of Southold ("Town") to construct a new
Town animal shelter on the site of the existing animal shelter located at 269 Peconic Lane, in
Town, including demolition of the existing shelter, purchase of the original furnishings
equipment, machinery and appazatus required and grading and improving the site; STATING the
estimated maximum cost thereof, including preliminary costs and costs incidental thereto and the
financing thereof, is $3,300,000; APPROPRIATING said amount therefor, including the
appropriation of $280,000 from moneys held in trust for the purpose of constructing a Town
animal shelter and STATING the plan of financing includes the expenditure of said moneys held
in trust, the issuance of not to exceed $3,020,000 serial bonds of the Town to finance the balance
of said appropriation and the levy and collection of taxes on all the taxable real property in the
Town to pay the principal of said bonds and the interest thereon as the same shall become due
and payable;
SECOND: AUTHORIZING the issuance of not to exceed $3,020,000 serial
bonds of the Town pursuant to the Local Finance Law of the State of New York (the "Law") to
finance the balance of said appropriation;
THIRD: DETERMINING and STATING the period of probable usefulness
applicable to said shelter, the purpose for which said serial bonds aze authorized to be issued, is
twenty-five (25) years; the proceeds of said bonds and any bond anticipation notes issued in
anticipation thereof may be applied to reimburse the Town for expenditures made after the
effective date of this bond resolution for the purpose for which said bonds are authorized; the
Generated May 24, 2007 Page 36
' Southold Town Board - Le~ Bo~Meeting of May 22, 2007
Town Boazd of the Town has heretofore determined that the project is an Unlisted action
pursuant to SEQRA; and the proposed maturity of said $3,020,000 serial bonds will exceed five
(5) years;
FOURTH: DETERMINING that said bonds and any bond anticipation notes
issued in anticipation of said bonds and the renewals of said bond anticipation notes shall be
general obligations of the Town; and PLEDGING to their payment the faith and credit of the
Town;
FIFTH: DELEGATING to the Supervisor the powers and duties as to the
issuance of said bonds and any bond anticipation notes issued in anticipation of said bonds, or
the renewals thereof; and
SIXTH: DETERMINING that the bond resolution is subject to a permissive
referendum.
DATED: May 22, 2007
Elizabeth A. Neville
Town Clerk
Generated May 24, 2007 Page 37
Southold Town Board - L~er )~d Meeting of May 22, 2007
Section 8. The Town Clerk is hereby authorized and directed to cause said bond
resolution, as hereinabove amended, to be published, in summary, in substantially the form set
forth in Exhibit "A" attached hereto and made a part hereof, after said Bond Resolution shall
take effect, in the newspaper referred to in Section 7 hereof, and hereby designated the official
newspaper for said publication, together with a Notice in substantially the form as provided by
Section 81.00 of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of
the State of New York.
Section (B) The amendment of the Bond Resolution set forth in Section (A) of
this resolution shall in no way affect the validity of the contracts validly executed, indebtedness
incurred, action taken or liabilities resulting therefrom, pursuant to the said Bond Resolution, and
all such contracts executed, indebtedness incurred, action taken or liabilities resulting therefrom
shall be deemed to have been executed, incurred, taken or resulting therefrom, pursuant to said
Bond Resolution, as so amended.
Section (C) Said Bond Resolution, as herein amended, is subject to a permissive
referendum as therein provided. In the event that a valid petition protesting against said bond
resolution, as amended, and requesting that it be submitted to the electors of said Town for their
approval or disapproval, is filed and the Proposition submitted therefor is defeated, the validity
of the bond resolution adopted August 16, 2005, shall not be in any way affected and shall
remain in full force and effect.
Section (D) This resolution shall take effect immediately.
Generated May 24, 2007 Page 38
' Southold Town Board - Lett• Bo•Meeting of May 22, 2007
Exhibit "A"
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK,
ADOPTED AUGUST 16, 2005, AND AMENDED MAY 22, 2007
AUTHORIZING THE CONSTRUCTION OF A NEW TOWN ANIMAL
SHELTER, IN SAID TOWN, STATING THE ESTIMATED
MAXIMUM COST THEREOF IS $3,300,000, APPROPRIATING SAID
AMOUNT THEREFOR, INCLUDING THE APPROPRIATION OF
$280,000 HELD IN TRUST AND AUTHORIZING THE ISSUANCE OF
$3,020,000 SERIAL BONDS OF SAID TOWN TO FINANCE THE
BALANCE OF SAID APPROPRIATION.
Object or purpose: to construct a new Town animal shelter on the site
of the existing animal shelter located at 269 Peconic
Lane, in the Town of Southold, including
demolition of the existing shelter, purchase of the
original furnishings equipment, machinery and
apparatus required and grading and improving the
site at the estimated maximum cost of $3,300,000;
appropriating said amount therefor, including
$280,000 held in trust for such purpose and stating
that construction of said new animal shelter has
been determined to be an Unlisted Action pursuant
to SEQRA and a Negative Declaration has been
adopted and filed
Amount of obligations
to be issued: $3,020,000
Period of probable
usefulness: twenty-five (25) yeazs
A complete copy of the bond resolution summarized above shall be available for public
inspection during normal business hours at the office of the Town Clerk, at the Town Hall,
53095 Main Street, Southold, New York.
Dated: May 22, 2007
Southold, New York
Elizabeth A. Neville
Southold Town Clerk
RESULT: ADOPTED [5 TO 1]
MOVER: Daniel C. Ross, Councilman
Generated May 24, 2007 Page 39
Southold Town Board - L~er )~d Meeting of May 22, 2007 '
SECONDER: Thomas H. Wickham, Councilman
AYES: Edwards, Ross, Wickham, Evans, Russell
NAYS:Albert Krupski Jr.
Generated May 24, 2007 Page 40
al 1~ ~ •
EXTRACT OF MINUTES
Meeting of the Town Board of the
Town of Southold, in the
County of Suffolk, New York
May 22, 2007
* * +
A regular meeting of the Town Board of the Town of Southold, in the
County of Suffolk, New York, was held at the Town Hall, 53095 Main Road, Southold,
New York, on May 22, 2007 at 4:30 0' clock P.M.
There were present: Hon. Scott A. Russell, Supervisor; and
Board Members: Councilman Albert Krupski, Jr.
Councilman William P. Edwazds
Councilman Daniel C. Ross
Councilman Thomas H, Wickham
Councilwoman Louisa P. Evans
There were absent: None
Also present: Elizabeth A. Neville, Town Clerk
Patricia Finnegan, Town Attorney
Councilman Daniel C. Ross offered the following resolution and moved
its adoption:
RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK,
ADOPTED MAY 22, 2007, AMENDING THE SERIAL BOND
RESOLUTION ADOPTED BY THE TOWN BOARD OF SAID
TOWN ON AUGUST 16, 2005 AUTHORIZING THE
CONSTRUCTION OF A NEW TOWN ANIMAL SHELTER, IN
SAID TOWN.
THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE
COUNTY OF SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote
of not less than two-thirds of all the members of said Town Boazd) AS FOLLOWS:
Section (A) The Town Board of the Town of Southold, in the County of
Suffolk, New York (herein called the "Town Boazd" and the "Town", respectively),
hereby amends the Bond Resolution entitled:
"BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED AUGUST 16, 2005, AUTHORIZING THE
CONSTRUCTION OF A NEW TOWN ANIMAL SHELTER, IN
SAID TOWN, STATING THE ESTIMATED MAXIMUM COST
THEREOF IS $2,600,000, APPROPRIATING SAID AMOUNT
THEREFOR, AND AUTHORIZING THE ISSUANCE OF
$2,600,000 SERIAL BONDS OF SAID TOWN TO FINANCE
SAID APPROPRIATION,"
duly adopted by the Town Board on August 16, 2005, to read as follows:
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED AUGUST 16, 2005, AND AMENDED MAY
22, 2007 AUTHORIZING THE CONSTRUCTION OF A NEW
TOWN ANIMAL SHELTER, IN SAID TOWN, STATING THE
ESTIMATED MAXIMUM COST THEREOF IS $3,300,000,
APPROPRIATING SAID AMOUNT THEREFOR, INCLUDING
THE APPROPRIATION OF $280,000 HELD IN TRUST AND
AUTHORIZING THE ISSUANCE OF $3,020,000 SERIAL
BONDS OF SAID TOWN TO FINANCE THE BALANCE OF
SAID APPROPRIATION
THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE
COUNTY OF SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote
of not less than two-thirds of all the members of said Town Boazd) AS FOLLOWS:
Section 1. The Town of Southold, in the County of Suffolk, New
York (herein called the "Town"), is hereby authorized to construct a new Town animal
shelter on the site of the existing animal shelter located at 269 Peconic Lane, in the Town,
including demolition of the existing animal shelter, purchase of the original furnishings,
equipment, machinery and appazatus required for the purpose for which said new shelter
is to be used and grading and improving the site. The estimated maximum cost of said
specific object or purpose, including preliminazy costs and costs incidental thereto and to
the financing thereof, is $3,300,000 and the said amount is hereby appropriated therefor,
including the appropriation of $280,000 from moneys held in trust for the purpose of
constructing a Town animal shelter. The plan of financing includes the expenditure of
said moneys held in trust, the issuance of not to exceed $3,020,000 serial bonds of the
Town to finance the balance of said appropriation and the levy and collection of taxes
upon all the taxable real property in the Town to pay the principal of said bonds and the
interest thereon as the same shall become due and payable.
Section 2. Serial bonds of the Town in the principal amount of not to
exceed $3,020,000 are hereby authorized to be issued pursuant to the provisions of the
Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of
New York (herein called the "Law"), to finance the balance of said appropriation.
Section 3. The following additional matters are hereby determined
and declared:
(a) Said new shelter will be of Class "B" construction as defined by
Section 11.00 a. 11.(b) of the Law and the period of probable usefulness applicable
thereto for which said bonds are authorized to be issued, within the limitations of said
Section 11.00 a. 11(b) of the Law, is twenty-five (25) years.
(b) The proceeds of the bonds herein authorized, and any bond
anticipation notes issued in anticipation of said bonds, may be applied to reimburse the
Town for expenditures made after the effective date of this resolution for the purpose for
which said bonds are authorized. The foregoing statement of intent with respect to
~ i •
reimbursement is made in conformity with Treasury Regulation Section 1.150-2 of the
United States Treasury Depaztment.
(c) The Town Board of the Town, acting in the role of Lead Agency
pursuant to the provisions of the New York State Environmental Quality Review Act,
constituting Article 8 of the Environmental Conservation Law, and 6 N.Y.C.R.R.,
Regulations Pazt 617 ("SEQRA") has heretofore determined that the project described
herein is an Unlisted Action pursuant to SEQRA. The Town Board has reviewed a Full
Environmental Assessment Form and has determined that the project will not result in
any significant adverse environmental impact and a negative declaration has been
adopted and filed.
(d) The proposed maturity of the bonds authorized by this resolution
will exceed five (5) years.
Section 4. Each of the bonds authorized by this resolution, and any
bond anticipation notes issued in anticipation of the sale of said bonds, shall contain the
recital of validity as prescribed by Section 52.00 of the Law and said bonds, and any
notes issued in anticipation of said bonds, shall be general obligations of the Town,
payable as to both principal and interest by general tax upon all the taxable real property
within the Town without limitation of rate or amount. The faith and credit of the Town
aze hereby irrevocably pledged to the punctual payment of the principal of and interest on
said bonds, and any notes issued in anticipation of the sale of said bonds, and provision
shall be made annually in the budget of the Town by appropriation for (a) the
amortization and redemption of the bonds and any notes in anticipation thereof to mature
in such yeaz and (b) the payment of interest to be due and payable in such yeaz.
Section 5. Subject to the provisions of this resolution and of the Law
and pursuant to the provisions of Section 21.00 relative to the authorization of bonds with
substantially level or declining annual debt service, Section 30.00 relative to the
authorization of the issuance of bond anticipation notes and Section 50.00 and Sections
56.00 to 60.00 of the Law, the powers and duties of the Town Board relative to
authorizing bond anticipation notes and prescribing the terms, form and contents and as
to the sale and issuance of the bonds herein authorized, and of any bond anticipation
notes issued in anticipation of said bonds, and the renewals of said bond anticipation
notes, aze hereby delegated to the Supervisor, the chief fiscal officer of the Town.
Section 6. The validity of the bonds authorized by this resolution, and
of any notes issued in anticipation of the sale of said bonds, may be contested only if:
(a) such obligations are authorized for an object or purpose for which
the Town is not authorized to expend money, or
(b) the provisions of law which should be complied with at the date of
the publication of such resolution, or a summary thereof, are not substantially complied
with, and an action, suit or proceeding contesting such validity is commenced within
twenty days after the date of such publication, or
(c) such obligations are authorized in violation of the provisions of the
constitution.
Section 7. This bond resolution is subject to a permissive referendum
and the Town Clerk is hereby authorized and directed, within ten (10) days after the
adoption of this resolution, to cause to be published in the "THE SUFFOLK TIMES," a
newspaper published in Mattituck, in the Town of Southold, New York and hereby
designated the official newspaper for such publication and posted on the sign board of the
Town maintained pursuant to the Town Law, a Notice in substantially the following
form:
TOWN OF SOUTHOLD, NEW YORK
PLEASE TAKE NOTICE that on May 22, 2007, the Town Board of the
Town of Southold, in the County of Suffolk, New York, adopted the resolution amending
the Bond Resolution which, as amended, is entitled:
"BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED AUGUST 16, 2005, AND AMENDED MAY
22, 2007 AUTHORIZING THE CONSTRUCTION OF A NEW
TOWN ANIMAL SHELTER, IN SAID TOWN, STATING THE
ESTIMATED MAXIMUM COST THEREOF IS $3,300,000,
APPROPRIATING SAID AMOUNT THEREFOR, INCLUDING
THE APPROPRIATION OF $280,000 HELD IN TRUST AND
AUTHORIZING THE ISSUANCE OF $3,020,000 SERIAL
BONDS OF SAID TOWN TO FINANCE THE BALANCE OF
SAID APPROPRIATION"
an abstract of said Bond Resolution, as amended, concisely stating the purpose and effect
thereof, being as follows:
FIRST: AUTHORIZING the Town of Southold ("Town") to construct a
new Town animal shelter on the site of the existing animal shelter located at 269 Peconic
Lane, in Town, including demolition of the existing shelter, purchase of the original
furnishings equipment, machinery and apparatus required and grading and improving the
site; STATING the estimated maximum cost thereof, including preliminary costs and
costs incidental thereto and the financing thereof, is $3,300,000; APPROPRIATING said
amount therefor, including the appropriation of $280,000 from moneys held in trust for
the purpose of constructing a Town animal shelter and STATING the plan of financing
includes the expenditure of said moneys held in trust, the issuance of not to exceed
$3,020,000 serial bonds of the Town to finance the balance of said appropriation and the
levy and collection of taxes on all the taxable real property in the Town to pay the
principal of said bonds and the interest thereon as the same shall become due and
payable;
SECOND: AUTHORIZING the issuance of not to exceed $3,020,000
serial bonds of the Town pursuant to the Local Finance Law of the State of New York
(the "Law") to finance the balance of said appropriation;
THIRD: DETERMINING and STATING the period of probable
usefulness applicable to said shelter, the purpose for which said serial bonds are
authorized to be issued, is twenty-five (25) yeazs; the proceeds of said bonds and any
bond anticipation notes issued in anticipation thereof may be applied to reimburse the
Town for expenditures made after the effective date of this bond resolution for the
purpose for which said bonds are authorized; the Town Board of the Town has heretofore
determined that the project is an Unlisted action pursuant to SEQRA; and the proposed
maturity of said $3,020,000 serial bonds will exceed five (5) years;
FOURTH: DETERMINING that said bonds and any bond anticipation
notes issued in anticipation of said bonds and the renewals of said bond anticipation notes
shall be general obligations of the Town; and PLEDGING to their payment the faith and
credit of the Town;
FIFTH: DELEGATING to the Supervisor the powers and duties as to the
issuance of said bonds and any bond anticipation notes issued in anticipation of said
bonds, or the renewals thereof; and
SIXTH: DETERMINING that the bond resolution is subject to a
permissive referendum.
DATED: May 22, 2007
Elizabeth A. Neville
Town Clerk
Section 8. The Town Clerk is hereby authorized and directed to cause
said bond resolution, as hereinabove amended, to be published, in summary, in
substantially the form set forth in Exhibit "A" attached hereto and made a part hereof,
after said Bond Resolution shall take effect, in the newspaper referred to in Section 7
hereof, and hereby designated the official newspaper for said publication, together with a
Notice in substantially the form as provided by Section 81.00 of the Local Finance Law,
constituting Chapter 33-a of the Consolidated Laws of the State of New York.
* +
Section (B) The amendment of the Bond Resolution set forth in Section
(A) of this resolution shall in no way affect the validity of the contracts validly executed,
indebtedness incurred, action taken or liabilities resulting therefrom, pursuant to the said
Bond Resolution, and all such contracts executed, indebtedness incurred, action taken or
liabilities resulting therefrom shall be deemed to have been executed, incurred, taken or
resulting therefrom, pursuant to said Bond Resolution, as so amended.
Section (C) Said Bond Resolution, as herein amended, is subject to a
permissive referendum as therein provided. In the event that a valid petition protesting
against said bond resolution, as amended, and requesting that it be submitted to the
electors of said Town for their approval or disapproval, is filed and the Proposition
submitted therefor is defeated, the validity of the bond resolution adopted August 16,
2005, shall not be in any way affected and shall remain in full force and effect.
Section (D) This resolution shall take effect immediately.
Exhibit "A"
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED AUGUST 16, 2005, AND AMENDED MAY
22, 2007 AUTHORIZING THE CONSTRUCTION OF A NEW
TOWN ANIMAL SHELTER, IN SAID TOWN, STATING THE
ESTIMATED MAXIMUM COST THEREOF IS $3,300,000,
APPROPRIATING SAID AMOUNT THEREFOR, INCLUDING
THE APPROPRIATION OF $280,000 HELD IN TRUST AND
AUTHORIZING THE ISSUANCE OF $3,020,000 SERIAL
BONDS OF SAID TOWN TO FINANCE THE BALANCE OF
SAID APPROPRIATION.
Object or purpose: to construct a new Town animal shelter on
the site of the existing animal shelter located
at 269 Peconic Lane, in the Town of
Southold, including demolition of the
existing shelter, purchase of the original
furnishings equipment, machinery and
apparatus required and grading and
improving the site at the estimated maximum
cost of $3,300,000; appropriating said
amount therefor, including $280,000 held in
trust for such purpose and stating that
construction of said new animal shelter has
been determined to be an Unlisted Action
pursuant to SEQRA and a Negative
Declaration has been adopted and filed
Amount of obligations
to be issued: $3,020,000
Period of probable
usefulness: twenty-five (25) years
A complete copy of the bond resolution summarized above shall be available for public
inspection during normal business hours at the office of the Town Clerk, at the Town
Hall, 53095 Main Street, Southold, New York.
Dated: May 22, 2007
Southold, New York
The adoption of the foregoing resolution was seconded by Councilman
Thomas H, Wickham and duly put to a vote on roll call, which resulted as follows:
AYES: Hon. Scott A. Russell, Supervisor
Councilman Albert Krupski, Jr.
Councilman William P. Edwards
Councilman Daniel C. Ross
Councilman Thomas H, Wickham
Councilwoman Louisa P. Evans
NOES: Councilman Albert Krupski, Jr.
The resolution was declared adopted.
CERTIFICATE
I, ELIZABETH A. NEVILLE, Town Clerk of the Town of Southold, in
the County of Suffolk, State of New York, HEREBY CERTIFY that the foregoing
annexed extract from the minutes the meeting of the Town Boazd of said Town of
Southold duly called and held on May 22, 2007, has been compared by me with the
original minutes as officially recorded in my office in the Minute Book of said Town
Boazd and is a true, complete and correct copy thereof and of the whole of said original
minutes so far as the same relate to the subject matters referred to in said extract.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
corporate seal of said Town of Southold this
22"d day of May, 2007.
(SEAL) ~/(J(. 1~~1 L
D _ Town Cle k
' Southold Town Boazd - Le er Boazd Meeting of May 22, 2007
RESOLUTION 2007-489 Item # 25
r~~*'` ADOPTED DOC ID: 2917
THIS IS TO CERTIFY THAT THE FOLLOWING RESOLUTION N0.2007-489 WAS
ADOPTED AT THE REGULAR MEETING OF THE SOUTHOLD TOWN BOARD ON
MAY 22, 2007:
RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK,
ADOPTED MAY 22, 2007, AMENDING THE SERIAL BOND
RESOLUTION ADOPTED BY THE TOWN BOARD OF SAID TOWN
ON AUGUST 16, 2005 AUTHORIZING THE CONSTRUCTION OF A
NEW TOWN ANIMAL SHELTER, IN SAID TOWN.
THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF
SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote of not less than two-
thirds of all the members of said Town Boazd) A5 FOLLOWS:
The Town Board of the Town of Southold, in the County of Suffolk, New York
(herein called the "Town Boazd" and the "Town", respectively), hereby amends the Bond
Resolution entitled:
"BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED AUGUST 16, 2005, AUTHORIZING THE
CONSTRUCTION OF A NEW TOWN ANIMAL SHELTER, IN SAID
TOWN, STATING THE ESTIMATED MAXIMUM COST THEREOF IS
$2,600,000, APPROPRIATING SAID AMOUNT THEREFOR, AND
Generated May 24, 2007 Page 31
Southold Town Board - L~er )~d Meeting of May 22, 2007
AUTHORIZING THE ISSUANCE OF $2,600,000 SERIAL BONDS OF
SAID TOWN TO FINANCE SAID APPROPRIATION,"
duly adopted by the Town Boazd on August 16, 2005, to read as follows:
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK,
ADOPTED AUGUST 16, 2005, AND AMENDED MAY 22, 2007
AUTHORIZING THE CONSTRUCTION OF A NEW TOWN ANIMAL
SHELTER, IN SAID TOWN, STATING THE ESTIMATED
MAXIMUM COST THEREOF IS $3,300,000, APPROPRIATING SAID
AMOUNT THEREFOR, INCLUDING THE APPROPRIATION OF
$280,000 HELD IN TRUST AND AUTHORIZING THE ISSUANCE OF
$3,020,000 SERIAL BONDS OF SAID TOWN TO FINANCE THE
BALANCE OF SAID APPROPRIATION
THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF
SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote of not less than two-
thirds of all the members of said Town Boazd) AS FOLLOWS:
The Town of Southold, in the County of Suffolk, New York (herein called the
"Town"), is hereby authorized to construct a new Town animal shelter on the site of the existing
animal shelter located at 269 Peconic Lane, in the Town, including demolition of the existing
animal shelter, purchase of the original furnishings, equipment, machinery and appazatus
required for the purpose for which said new shelter is to be used and grading and improving the
site. The estimated maximum cost of said specific object or purpose, including preliminary costs
Generated May 24, 2007 Page 32
' Southold Town Board - Le• Bo• Meeting of May 22, 2007
and costs incidental thereto and to the financing thereof, is $3,300,000 and the said amount is
hereby appropriated therefor, including the appropriation of $280,000 from moneys held in trust
for the purpose of constructing a Town animal shelter. The plan of financing includes the
expenditure of said moneys held in trust, the issuance of not to exceed $3,020,000 serial bonds of
the Town to finance the balance of said appropriation and the levy and collection of taxes upon
all the taxable real property in the Town to pay the principal of said bonds and the interest
thereon as the same shall become due and payable.
Serial bonds of the Town in the principal amount of not to exceed $3,020,000 are
hereby authorized to be issued pursuant to the provisions of the Local Finance Law, constituting
Chapter 33-a of the Consolidated Laws of the State of New York (herein called the "Law"), to
finance the balance of said appropriation.
The following additional matters are hereby determined and declared:
(a) Said new shelter will be of Class "B" construction as defined by Section
11.00 a. 1 l.(b) of the Law and the period of probable usefulness applicable thereto for which
said bonds are authorized to be issued, within the limitations of said Section 11.00 a. 11(b) of the
Law, is twenty-five (25) years.
(b) The proceeds of the bonds herein authorized, and any bond anticipation
notes issued in anticipation of said bonds, may be applied to reimburse the Town for
expenditures made after the effective date of this resolution for the purpose for which said bonds
are authorized. The foregoing statement of intent with respect to reimbursement is made in
conformity with Treasury Regulation Section 1.150-2 of the United States Treasury Department.
(c) The Town Board of the Town, acting in the role of Lead Agency pursuant
to the provisions of the New York State Environmental Quality Review Act, constituting Article
Generated May 24, 2007 Page 33
Southold Town Boazd - L~er B~d Meeting of May 22, 2007 '
8 of the Environmental Conservation Law, and 6 N.Y.C.R.R., Regulations Part 617 ("SEQRA")
has heretofore determined that the project described herein is an Unlisted Action pursuant to
SEQRA. The Town Board has reviewed a Full Environmental Assessment Form and has
determined that the project will not result in any significant adverse environmental impact and a
negative declazation has been adopted and filed.
(d) The proposed maturity of the bonds authorized by this resolution will
exceed five (5) years.
Each of the bonds authorized by this resolution, and any bond anticipation notes
issued in anticipation of the sale of said bonds, shall contain the recital of validity as prescribed
by Section 52.00 of the Law and said bonds, and any notes issued in anticipation of said bonds,
shall be general obligations of the Town, payable as to both principal and interest by general tax
upon all the taxable real property within the Town without limitation of rate or amount. The
faith and credit of the Town are hereby irrevocably pledged to the punctual payment of the
principal of and interest on said bonds, and any notes issued in anticipation of the sale of said
bonds, and provision shall be made annually in the budget of the Town by appropriation for (a)
the amortization and redemption of the bonds and any notes in anticipation thereof to mature in
such yeaz and (b) the payment of interest to be due and payable in such year.
Subject to the provisions of this resolution and of the Law and pursuant to the
provisions of Section 21.00 relative to the authorization of bonds with substantially level or
declining annual debt service, Section 30.00 relative to the authorization of the issuance of bond
anticipation notes and Section 50.00 and Sections 56.00 to 60.00 of the Law, the powers and
duties of the Town Board relative to authorizing bond anticipation notes and prescribing the
terms, form and contents and as to the sale and issuance of the bonds herein authorized, and of
Generated May 24, 2007 Page 34
' Southold Town Board -Lehr Bo• Meeting of May 22, 2007
any bond anticipation notes issued in anticipation of said bonds, and the renewals of said bond
anticipation notes, aze hereby delegated to the Supervisor, the chief fiscal officer of the Town.
The validity of the bonds authorized by this resolution, and of any notes issued in
anticipation of the sale of said bonds, may be contested only if:
such obligations aze authorized for an object or purpose for which the Town is not
authorized to expend money, or
the provisions of law which should be complied with at the date of the publication
of such resolution, or a summary thereof, aze not substantially complied with,
and an action, suit or proceeding contesting such validity is commenced within twenty days after
the date of such publication, or
(c) such obligations are authorized in violation of the provisions of the
constitution.
This bond resolution is subject to a permissive referendum and the Town Clerk is
hereby authorized and directed, within ten 0) days after the adoption of this resolution, to cause
to be published in the "THE SUFFOLK TIMES," a newspaper published in Mattituck, in the
Town of Southold, New York and hereby designated the official newspaper for such publication
and posted on the sign board of the Town maintained pursuant to the Town Law, a Notice in
substantially the following fonn:
Generated May 24, 2007 Page 35
Southold Town Board - L~er B~d Meeting of May 22, 2007
TOWN OF SOUTHOLD. NEW YORK
PLEASE TAKE NOTICE that on May 22, 2007, the Town Boazd of the Town of
Southold, in the County of Suffolk, New York, adopted the resolution amending the Bond
Resolution which, as amended, is entitled:
"BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED AUGUST 16, 2005, AND AMENDED MAY 22,
2007 AUTHORIZING THE CONSTRUCTION OF A NEW TOWN
ANIMAL SHELTER, IN SAID TOWN, STATING THE ESTIMATED
MAXIMUM COST THEREOF IS $3,300,000, APPROPRIATING SAID
AMOUNT THEREFOR, INCLUDING THE APPROPRIATION OF
$280,000 HELD IN TRUST AND AUTHORIZING THE ISSUANCE OF
$3,020,000 SERIAL BONDS OF SAID TOWN TO FINANCE THE
BALANCE OF SAID APPROPRIATION"
an abstract of said Bond Resolution, as amended, concisely stating the purpose and effect
thereof, being as follows:
FIRST: AUTHORIZING the Town of Southold ("Town") to construct a new
Town animal shelter on the site of the existing animal shelter located at 269 Peconic Lane, in
Town, including demolition of the existing shelter, purchase of the original furnishings
equipment, machinery and appazatus required and grading and improving the site; STATING the
estimated maximum cost thereof, including preliminary costs and costs incidental thereto and the
financing thereof, is $3,300,000; APPROPRIATING said amount therefor, including the
appropriation of $280,000 from moneys held in trust for the purpose of constructing a Town
animal shelter and STATING the plan of financing includes the expenditure of said moneys held
in trust, the issuance of not to exceed $3,020,000 serial bonds of the Town to finance the balance
of said appropriation and the levy and collection of taxes on all the taxable real property in the
Town to pay the principal of said bonds and the interest thereon as the same shall become due
and payable;
SECOND: AUTHORIZING the issuance of not to exceed $3,020,000 serial
bonds of the Town pursuant to the Local Finance Law of the State of New York (the "Law") to
finance the balance of said appropriation;
THIRD: DETERMINING and STATING the period of probable usefulness
applicable to said shelter, the purpose for which said serial bonds aze authorized to be issued, is
twenty-five (25) yeazs; the proceeds of said bonds and any bond anticipation notes issued in
anticipation thereof may be applied to reimburse the Town for expenditures made after the
effective date of this bond resolution for the purpose for which said bonds aze authorized; the
Generated May 24, 2007 Page 36
' Southold Town Boazd - Le• Bo• Meeting of May 22, 2007
Town Board of the Town has heretofore determined that the project is an Unlisted action
pursuant to SEQRA; and the proposed maturity of said $3,020,000 serial bonds will exceed five
(5) years;
FOURTH: DETERMINING that said bonds and any bond anticipation notes
issued in anticipation of said bonds and the renewals of said bond anticipation notes shall be
general obligations of the Town; and PLEDGING to their payment the faith and credit of the
Town;
FIFTH: DELEGATING to the Supervisor the powers and duties as to the
issuance of said bonds and any bond anticipation notes issued in anticipation of said bonds, or
the renewals thereof; and
SIXTH: DETERMINING that the bond resolution is subject to a permissive
referendum.
DATED: May 22, 2007
Elizabeth A. Neville
Town Clerk
Generated May 24, 2007 Page 37
Southold Town Board - L~er B~d Meeting of May 22, 2007
Section 8. The Town Clerk is hereby authorized and directed to cause said bond
resolution, as hereinabove amended, to be published, in summary, in substantially the form set
forth in Exhibit "A" attached hereto and made a part hereof, after said Bond Resolution shall
take effect, in the newspaper referred to in Section 7 hereof, and hereby designated the official
newspaper for said publication, together with a Notice in substantially the form as provided by
Section 81.00 of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of
the State of New York.
r ~ ~
Section (B) The amendment of the Bond Resolution set forth in Section (A) of
this resolution shall in no way affect the validity of the contracts validly executed, indebtedness
incurred, action taken or liabilities resulting therefrom, pursuant to the said Bond Resolution, and
all such contracts executed, indebtedness incurred, action taken or liabilities resulting therefrom
shall be deemed to have been executed, incurred, taken or resulting therefrom, pursuant to said
Bond Resolution, as so amended.
Section (C) Said Bond Resolution, as herein amended, is subject to a permissive
referendum as therein provided. In the event that a valid petition protesting against said bond
resolution, as amended, and requesting that it be submitted to the electors of said Town for their
approval or disapproval, is filed and the Proposition submitted therefor is defeated, the validity
of the bond resolution adopted August 16, 2005, shall not be in any way affected and shall
remain in full force and effect.
Section (D) This resolution shall take effect immediately.
Generated May 24, 2007 Page 38
' Southold Town Boazd - Lehr Bo• Meeting of May 22, 2007
Exhibit "A"
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK,
ADOPTED AUGUST 16, 2005, AND AMENDED MAY 22, 2007
AUTHORIZING THE CONSTRUCTION OF A NEW TOWN ANIMAL
SHELTER, IN SAID TOWN, STATING THE ESTIMATED
MAXIMUM COST THEREOF IS $3,300,000, APPROPRIATING SAID
AMOUNT THEREFOR, INCLUDING THE APPROPRIATION OF
$280,000 HELD IN TRUST AND AUTHORIZING THE ISSUANCE OF
$3,020,000 SERIAL BONDS OF SAID TOWN TO FINANCE THE
BALANCE OF SAID APPROPRIATION.
Object or purpose: to construct a new Town animal shelter on the site
of the existing animal shelter located at 269 Peconic
Lane, in the Town of Southold, including
demolition of the existing shelter, purchase of the
original furnishings equipment, machinery and
appazatus required and grading and improving the
site at the estimated maximum cost of $3,300,000;
appropriating said amount therefor, including
$280,000 held in trust for such purpose and stating
that construction of said new animal shelter has
been determined to be an Unlisted Action pursuant
to SEQRA and a Negative Declazation has been
adopted and filed
Amount of obligations
to be issued: $3,020,000
Period of probable
usefulness: twenty-five (25) years
A complete copy of the bond resolution summarized above shall be available for public
inspection during normal business hours at the office of the Town Clerk, at the Town Hall,
53095 Main Street, Southold, New York.
Dated: May 22, 2007
Southold, New York
Elizabeth A. Neville
Southold Town Clerk
RESULT: ADOPTED [5 TO 1]
MOVER: Daniel C. Ross, Councilman
Generated May 24, 2007 Page 39
Southold Town Board - LLRCer B~d Meeting of May 22, 2007 '
SECONDER: Thomas H. Wickham, Councilman
AYES: Edwards, Ross, Wickham, Evans, Russell
NAYS:AIbert Krupski Jr.
Generated May 24, 2007 Page 40
EXTRACT OF MINUTES
Meeting of the Town Board of the
Town of Southold, in the
County of Suffolk, New York
May 22, 2007
« +
A regular meeting of the Town Board of the Town of Southold, in the
County of Suffolk, New York, was held at the Town Hall, 53095 Main Road, Southold,
New York, on May 22, 2007 at 4:30 0' clock P.M.
There were present: Hon. Scott A. Russell, Supervisor; and
Board Members: Councilman Albert Krupski, Jr.
Councilman William P. Edwards
Councilman Daniel C. Ross
Councilman Thomas H, Wickham
Councilwoman Louisa P. Evans
There were absent: None
Also present: Elizabeth A. Neville, Town Clerk
Patricia Finnegan, Town Attorney
+ +
Councilman Daniel C. Ross offered the following resolution and moved
its adoption:
RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK,
ADOPTED MAY 22, 2007, AMENDING THE SERIAL BOND
RESOLUTION ADOPTED BY THE TOWN BOARD OF SAID
TOWN ON AUGUST 16, 2005 AUTHORIZING THE
CONSTRUCTION OF A NEW TOWN ANIMAL SHELTER, IN
SAID TOWN.
THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE
COUNTY OF SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote
of not less than two-thirds of all the members of said Town Board) AS FOLLOWS:
Section (A) The Town Board of the Town of Southold, in the County of
Suffolk, New York (herein called the "Town Board" and the "Town", respectively),
hereby amends the Bond Resolution entitled:
"BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED AUGUST 16, 2005, AUTHORIZING THE
CONSTRUCTION OF A NEW TOWN ANIMAL SHELTER, IN
SAID TOWN, STATING THE ESTIMATED MAXIMUM COST
THEREOF IS $2,600,000, APPROPRIATING SAID AMOUNT
THEREFOR, AND AUTHORIZING THE ISSUANCE OF
$2,600,000 SERIAL BONDS OF SAID TOWN TO FINANCE
SAID APPROPRIATION,"
duly adopted by the Town Boazd on August 16, 2005, to read as follows:
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED AUGUST 16, 2005, AND AMENDED MAY
22, 2007 AUTHORIZING THE CONSTRUCTION OF A NEW
TOWN ANIMAL SHELTER, IN SAID TOWN, STATING THE
ESTIMATED MAXIMUM COST THEREOF IS $3,300,000,
APPROPRIATING SAID AMOUNT THEREFOR, INCLUDING
THE APPROPRIATION OF $280,000 HELD IN TRUST AND
AUTHORIZING THE ISSUANCE OF $3,020,000 SERIAL
BONDS OF SAID TOWN TO FINANCE THE BALANCE OF
SAID APPROPRIATION
THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE
COUNTY OF SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote
of not less than two-thirds of all the members of said Town Board) AS FOLLOWS:
Section 1. The Town of Southold, in the County of Suffolk, New
York (herein called the "Town"), is hereby authorized to construct a new Town animal
shelter on the site of the existing animal shelter located at 269 Peconic Lane, in the Town,
including demolition of the existing animal shelter, purchase of the original furnishings,
equipment, machinery and apparatus required for the purpose for which said new shelter
is to be used and grading and improving the site. The estimated maximum cost of said
specific object or purpose, including preliminary costs and costs incidental thereto and to
the financing thereof, is $3,300,000 and the said amount is hereby appropriated therefor,
including the appropriation of $280,000 from moneys held in trust for the purpose of
constructing a Town animal shelter. The plan of financing includes the expenditure of
said moneys held in trust, the issuance of not to exceed $3,020,000 serial bonds of the
Town to finance the balance of said appropriation and the levy and collection of taxes
upon all the taxable real property in the Town to pay the principal of said bonds and the
interest thereon as the same shall become due and payable.
Section 2. Serial bonds of the Town in the principal amount of not to
exceed $3,020,000 aze 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 the "Law"), to finance the balance of said appropriation.
Section 3. The following additional matters are hereby determined
and declared:
(a) Said new shelter will be of Class "B" construction as defined by
Section 11.00 a. 11.(b) of the Law and the period of probable usefulness applicable
thereto for which said bonds aze authorized to be issued, within the limitations of said
Section 11.00 a. 11(b) of the Law, is twenty-five (25) years.
(b) The proceeds of the bonds herein authorized, and any bond
anticipation notes issued in anticipation of said bonds, may be applied to reimburse the
Town for expenditures made afrer the effective date of this resolution for the purpose for
which said bonds aze authorized. The foregoing statement of intent with respect to
reimbursement is made in conformity with Treasury Regulation Section 1.150-2 of the
United States Treasury Department.
(c) The Town Board of the Town, acting in the role of Lead Agency
pursuant to the provisions of the New York State Environmental Quality Review Act,
constituting Article 8 of the Environmental Conservation Law, and 6 N.Y.C.R.R.,
Regulations Part 617 ("SEQRA") has heretofore determined that the project described
herein is an Unlisted Action pursuant to SEQRA. The Town Boazd has reviewed a Full
Environmental Assessment Form and has determined that the project will not result in
any significant adverse environmental impact and a negative declaration has been
adopted and filed.
(d) The proposed maturity of the bonds authorized by this resolution
will exceed five (5) years.
Section 4. Each of the bonds authorized by this resolution, and any
bond anticipation notes issued in anticipation of the sale of said bonds, shall contain the
recital of validity as prescribed by Section 52.00 of the Law and said bonds, and any
notes issued in anticipation of said bonds, shall be general obligations of the Town,
payable as to both principal and interest by general tax upon all the taxable real property
within the Town without limitation of rate or amount. The faith and credit of the Town
aze hereby irrevocably pledged to the punctual payment of the principal of and interest on
said bonds, and any notes issued in anticipation of the sale of said bonds, and provision
shall be made annually in the budget of the Town by appropriation for (a) the
amortization and redemption of the bonds and any notes in anticipation thereof to mature
in such yeaz and (b) the payment of interest to be due and payable in such year.
Section 5. Subject to the provisions of this resolution and of the Law
and pursuant to the provisions of Section 21.00 relative to the authorization of bonds with
substantially level or declining annual debt service, Section 30.00 relative to the
authorization of the issuance of bond anticipation notes and Section 50.00 and Sections
56.00 to 60.00 of the Law, the powers and duties of the Town Boazd relative to
authorizing bond anticipation notes and prescribing the terms, form and contents and as
to the sale and issuance of the bonds herein authorized, and of any bond anticipation
notes issued in anticipation of said bonds, and the renewals of said bond anticipation
notes, are hereby delegated to the Supervisor, the chief fiscal officer of the Town.
Section 6. The validity of the bonds authorized by this resolution, and
of any notes issued in anticipation of the sale of said bonds, may be contested only i£
(a) such obligations are authorized for an object or purpose for which
the Town is not authorized to expend money, or
(b) the provisions of law which should be complied with at the date of
the publication of such resolution, or a summary thereof, are not substantially complied
with, and an action, suit or proceeding contesting such validity is commenced within
twenty days after the date of such publication, or
(c) such obligations aze authorized in violation of the provisions of the
constitution.
Section 7. This bond resolution is subject to a permissive referendum
and the Town Clerk is hereby authorized and directed, within ten (10) days after the
adoption of this resolution, to cause to be published in the "THE SUFFOLK TIMES," a
newspaper published in Mattituck, in the Town of Southold, New York and hereby
designated the official newspaper for such publication and posted on the sign board of the
Town maintained pursuant to the Town Law, a Notice in substantially the following
form:
TOWN OF SOUTHOLD, NEW YORK
PLEASE TAKE NOTICE that on May 22, 2007, the Town Boazd of the
Town of Southold, in the County of Suffolk, New York, adopted the resolution amending
the Bond Resolution which, as amended, is entitled:
"BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED AUGUST 16, 2005, AND AMENDED MAY
22, 2007 AUTHORIZING THE CONSTRUCTION OF A NEW
TOWN ANIMAL SHELTER, IN SAID TOWN, STATING THE
ESTIMATED MAXIMUM COST THEREOF IS $3,300,000,
APPROPRIATING SAID AMOUNT THEREFOR, INCLUDING
THE APPROPRIATION OF $280,000 HELD IN TRUST AND
AUTHORIZING THE ISSUANCE OF $3,020,000 SERIAL
BONDS OF SAID TOWN TO FINANCE THE BALANCE OF
SAID APPROPRIATION"
an abstract of said Bond Resolution, as amended, concisely stating the purpose and effect
thereof, being as follows:
FIRST: AUTHORIZING the Town of Southold ("Town") to construct a
new Town animal shelter on the site of the existing animal shelter located at 269 Peconic
Lane, in Town, including demolition of the existing shelter, purchase of the original
furnishings equipment, machinery and appazatus required and grading and improving the
site; STATING the estimated maximum cost thereof, including preliminary costs and
costs incidental thereto and the financing thereof, is $3,300,000; APPROPRIATING said
amount therefor, including the appropriation of $280,000 from moneys held in trust for
the purpose of constructing a Town animal shelter and STATING the plan of financing
includes the expenditure of said moneys held in trust, the issuance of not to exceed
$3,020,000 serial bonds of the Town to finance the balance of said appropriation and the
levy and collection of taxes on all the taxable real property in the Town to pay the
principal of said bonds and the interest thereon as the same shall become due and
payable;
SECOND: AUTHORIZING the issuance of not to exceed $3,020,000
serial bonds of the Town pursuant to the Local Finance Law of the State of New York
(the "Law") to finance the balance of said appropriation;
THIRD: DETERMINING and STATING the period of probable
usefulness applicable to said shelter, the purpose for which said serial bonds aze
authorized to be issued, is twenty-five (25) years; the proceeds of said bonds and any
bond anticipation notes issued in anticipation thereof may be applied to reimburse the
Town for expenditures made after the effective date of this bond resolution for the
purpose for which said bonds are authorized; the Town Boazd of the Town has heretofore
determined that the project is an Unlisted action pursuant to SEQRA; and the proposed
maturity of said $3,020,000 serial bonds will exceed five (5) years;
FOURTH: DETERMINING that said bonds and any bond anticipation
notes issued in anticipation of said bonds and the renewals of said bond anticipation notes
shall be general obligations of the Town; and PLEDGING to their payment the faith and
credit of the Town;
FIFTH: DELEGATING to the Supervisor the powers and duties as to the
issuance of said bonds and any bond anticipation notes issued in anticipation of said
bonds, or the renewals thereof; and
SIXTH: DETERMINING that the bond resolution is subject to a
permissive referendum.
DATED: May 22, 2007
Elizabeth A. Neville
Town Clerk
Section 8. The Town Clerk is hereby authorized and directed to cause
said bond resolution, as hereinabove amended, to be published, in summary, in
substantially the form set forth in Exhibit "A" attached hereto and made a part hereof,
after said Bond Resolution shall take effect, in the newspaper referred to in Section 7
hereof, and hereby designated the official newspaper for said publication, together with a
Notice in substantially the form as provided by Section 81.00 of the Local Finance Law,
constituting Chapter 33-a of the Consolidated Laws of the State of New York.
~ +
Section (B) The amendment of the Bond Resolution set forth in Section
(A) of this resolution shall in no way affect the validity of the contracts validly executed,
indebtedness incurred, action taken or liabilities resulting therefrom, pursuant to the said
Bond Resolution, and all such contracts executed, indebtedness incurred, action taken or
liabilities resulting therefrom shall be deemed to have been executed, incurred, taken or
resulting therefrom, pursuant to said Bond Resolution, as so amended.
Section (C) Said Bond Resolution, as herein amended, is subject to a
permissive referendum as therein provided. In the event that a valid petition protesting
against said bond resolution, as amended, and requesting that it be submitted to the
electors of said Town for their approval or disapproval, is filed and the Proposition
submitted therefor is defeated, the validity of the bond resolution adopted August 16,
2005, shall not be in any way affected and shall remain in full force and effect.
Section (D) This resolution shall take effect immediately.
Exhibit "A"
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED AUGUST 16, 2005, AND AMENDED MAY
22, 2007 AUTHORIZING THE CONSTRUCTION OF A NEW
TOWN ANIMAL SHELTER, IN SAID TOWN, STATING THE
ESTIMATED MAXIMUM COST THEREOF IS $3,300,000,
APPROPRIATING SAID AMOUNT THEREFOR, INCLUDING
THE APPROPRIATION OF $280,000 HELD IN TRUST AND
AUTHORIZING THE ISSUANCE OF $3,020,000 SERIAL
BONDS OF SAID TOWN TO FINANCE THE BALANCE OF
SAID APPROPRIATION.
Object or purpose: to construct a new Town animal shelter on
the site of the existing animal shelter located
at 269 Peconic Lane, in the Town of
Southold, including demolition of the
existing shelter, purchase of the original
furnishings equipment, machinery and
appazatus required and grading and
improving the site at the estimated maximum
cost of $3,300,000; appropriating said
amount therefor, including $280,000 held in
trust for such purpose and stating that
construction of said new animal shelter has
been determined to be an Unlisted Action
pursuant to SEQRA and a Negative
Declazation has been adopted and filed
Amount of obligations
to be issued: $3,020,000
Period of probable
usefulness: twenty-five (25) years
A complete copy of the bond resolution summarized above shall be available for public
inspection during normal business hours at the office of the Town Clerk, at the Town
Hall, 53095 Main Street, Southold, New York.
Dated: May 22, 2007
Southold, New York
The adoption of the foregoing resolution was seconded by Councilman
Thomas H, Wickham and duly put to a vote on roll call, which resulted as follows:
AYES: Hon. Scott A. Russell, Supervisor
Councilman Albert Krupski, Jr.
Councilman William P. Edwazds
Councilman Daniel C. Ross
Councilman Thomas H, Wickham
Councilwoman Louisa P. Evans
NOES: Councilman Albert Krupski, Jr.
The resolution was declared adopted.
CERTIFICATE
I, ELIZABETH A. NEVILLE, Town Clerk of the Town of Southold, in
the County of Suffolk, State of New York, HEREBY CERTIFY that the foregoing
annexed extract from the minutes the meeting of the Town Board of said Town of
Southold duly called and held on May 22, 2007, 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 faz as the same relate to the subject matters referred to in said extract.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
corporate seal of said Town of Southold this
22"a day of May, 2007.
1
(SEAL)
Town Cle c
• TOWN OF SOUTHOLD, NEW~RK
PLEASE TAKE NOTICE that on May 22, 2007, the Town Boazd of the
Town of Southold, in the County of Suffolk, New York, adopted the resolution amending
the Bond Resolution which, as amended, is entitled:
"BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED AUGUST 16, 2005, AND AMENDED MAY
22, 2007 AUTHORIZING THE CONSTRUCTION OF A NEW
TOWN ANIMAL SHELTER, IN SAID TOWN, STATING THE
ESTIMATED MAXIMUM COST THEREOF IS $3,300,000,
APPROPRIATING SAID AMOUNT THEREFOR, INCLUDING
THE APPROPRIATION OF $280,000 HELD IN TRUST AND
AUTHORIZING THE ISSUANCE OF $3,020,000 SERIAL
BONDS OF SAID TOWN TO FINANCE THE BALANCE OF
SAID APPROPRIATION"
an abstract of said Bond Resolution, as amended, concisely stating the purpose and effect
thereof, being as follows:
FIRST: AUTHORIZING the Town of Southold ("Town") to construct a
new Town animal shelter on the site of the existing animal shelter located at 269 Peconic
Lane, in Town, including demolition of the existing shelter, purchase of the original
furnishings equipment, machinery and appazatus required and grading and improving the
site; STATING the estimated maximum cost thereof, including preliminary costs and
costs incidental thereto and the financing thereof, is $3,300,000; APPROPRIATING said
amount therefor, including the appropriation of $280,000 from moneys held in trust for
the purpose of constructing a Town animal shelter and STATING the plan of financing
includes the expenditure of said moneys held in trust, the issuance of not to exceed
$3,020,000 serial bonds of the Town to finance the balance of said appropriation and the
levy and collection of taxes on all the taxable real property in the Town to pay the
principal of said bonds and the interest thereon as the same shall become due and
payable;
SECOND: AUTHORIZING the issuance of not to exceed $3,020,000
serial bonds of the Town pursuant to the Local Finance Law of the State of New York
(the "Law") to finance the balance of said appropriation;
THIRD: DETERMINING and STATING the period of probable
usefulness applicable to said shelter, the purpose for which said serial bonds are
authorized to be issued, is twenty-five (25) yeazs; the proceeds of said bonds and any
bond anticipation notes issued in anticipation thereof may be applied to reimburse the
Town for expenditures made after the effective date of this bond resolution for the
purpose for which said bonds aze authorized; the Town Boazd of the Town has heretofore
determined that the project is an Unlisted action pursuant to SEQRA; and the proposed
maturity of said $3,020,000 serial bonds will exceed five (5) years;
F~RTH: DETERMINING that said bd}Cds and any bond anticipation
notes issued in anticipation of said bonds and the renewals of said bond anticipation notes
shall be general obligations of the Town; and PLEDGING to their payment the faith and
credit of the Town;
FIFTH: DELEGATING to the Supervisor the powers and duties as to the
issuance of said bonds and any bond anticipation notes issued in anticipation of said
bonds, or the renewals thereof; and
SIXTH: DETERMINING that the bond resolution is subject to a
permissive referendum.
DATED: May 22, 2007
BY ORDER OF THE TOWN BOARD OF THE TOWN OF SOUTHOLD,
COUNTY OF SUFFOLK, STATE OF NEW YORK
Town of Southold, New York
Elizabeth A. Neville
Town Clerk
PLEASE PUBLISH ON MAY 31, 2007, AND FORWARD one (1) AFFIDAVIT OF
PUBLICATION TO ELIZABETH A. NEVILLE, TOWN CLERK, TOWN HALL,
P.O. BOX 1179, SOUTHOLD, NY 11971
Copies to the following:
Suffolk Times Town Boazd Members
Town Attorney Accounting
Town Clerk's Bulletin Boazd
STATE OF NEW YORK )
:ss:
COUNTY OF SUFFOLK )
ELIZABETH A. NEVILLE, being duly sworn, deposes and says:
That she is and at all times hereinafter mentioned she was the duly elected,
qualified and acting Town Clerk of the Town of Southold, State of New York;
That on May 2007, she has caused to be conspicuously posted and fastened
up a Notice setting forth an abstract of the Bond Resolution as amended pursuant to the
resolution adopted by the Town Board on May 22, 2007, a copy of which Notice is annexed
hereto and made a part hereof, on the sign board of the Town maintained pursuant to the Town
Law.
Town Clerk
Subscribed and sworn to before me
this ~ day of May, 2007.
u~~--~(~
Notary Public, State of New York
LYNDA M. BOHN
MOTAFtY PUBLIC, State of New York
No.O7B06020932
Qualified in Suffolk County
Term Expires March 8, 20 ~
Error! Unknown document property name.
(212) 820-9416 May 22, 2007
Town of Southold, New York
$3,000,000 Serial Bonds for Animal Shelter
(Our File Designation: 26 1 5/2 3 72 5)
Mr. Kieran Corcoran
Deputy Town Attorney
Town of Southold
53095 Main Road
Southold, New York 11971
Deaz Kieran:
Pursuant to your request, I have prepared and enclose herewith the draft Extract of
Minutes of the Town Boazd meeting to be held on May 22, 2007, showing the adoption of the
resolution amending the Bond Resolution adopted by the Town Board on August 16, 2005.
The above-referenced Amended Bond Resolution contains the form of Notice of
Permissive Referendum to be published in the official Town newspaper and posted on the sign
board of the Town maintained pursuant to the Town Law within ten (10) days after adoption of
the bond resolution.
Please note that the amending resolution and the Amended Bond Resolution
are to be adopted by at least atwo-thirds vote of the entire membership of the Town Board.
In addition, I have enclosed extra copies of the notice of permissive referendum
for your convenience in publishing and posting such notice together with the draft Affidavit of
Posting to be executed by the Town Clerk. A copy of the notice, as posted, should be attached to
this Affidavit.
479412.1 023725 RES
Please obtain and forward to me a certified copy of the Extract of Minutes, an
executed Affidavit of Posting and an original Affidavit of Publication. Upon receipt of same, we
will forwazd the additional documents required with respect to the estoppel proceedings pursuant
to Section 80.00 et seq of the local finance law.
Thanking you and with kind regazds, I remain
Sincerely yours,
Gerard Fernandez, Jr.
GF,Jr./jc
Enclosures
co: John Cushman, Town Comptroller, with enclosures
479412.1 023725 RES
EXTRACT OF MINUTES
Meeting of the Town Board of the
Town of Southold, in the
County of Suffolk, New York
May 22, 2007
* ~
A regular meeting of the Town Board of the Town of Southold, in the County of
Suffolk, New York, was held at the Town Hall, 53095 Main Road, Southold, New York, on May
22, 2007 at o' clock P.M.
There were present: Hon. Scott A. Russell, Supervisor; and
Board Members:
There were absent:
Also present: Elizabeth A. Neville, Town Clerk
Patricia Finnegan, Town Attorney
Kieran Corcoran, Deputy Town Attonrey
John A. Cushman, Town Comptroller
~ r
offered the following resolution and moved its
adoption:
479412.1 023725 RES
RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK,
ADOPTED MAY 22, 2007, AMENDING THE SERIAL BOND
RESOLUTION ADOPTED BY THE TOWN BOARD OF SAID TOWN
ON AUGUST 16, 2005 AUTHORIZING THE CONSTRUCTION OF A
NEW TOWN ANIMAL SHELTER, IN SAID TOWN.
THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF
SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote of not less than two-
thirds of all the members of said Town Board) AS FOLLOWS:
Section (A) The Town Board of the Town of Southold, in the County of
Suffolk, New York (herein called the "Town Board" and the "Town", respectively), hereby
amends the Bond Resolution entitled:
"BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED AUGUST 16, 2005, AUTHORIZING THE
CONSTRUCTION OF A NEW TOWN ANIMAL SHELTER, IN SAID
TOWN, STATING THE ESTIMATED MAXIMUM COST THEREOF IS
$2,600,000, APPROPRIATING SAID AMOUNT THEREFOR, AND
AUTHORIZING THE ISSUANCE OF $2,600,000 SERIAL BONDS OF
SAID TOWN TO FINANCE SAID APPROPRIATION,"
duly adopted by the Town Boazd on August 16, 2005, to read as follows:
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK,
ADOPTED AUGUST 16, 2005, AND AMENDED MAY 22, 2007
AUTHORIZING THE CONSTRUCTION OF A NEW TOWN ANIMAL
SHELTER, IN SAID TOWN, STATING THE ESTIMATED
479412.1 023725 RES
MAXIMUM COST THEREOF IS $3,300,000, APPROPRIATING SAID
AMOUNT THEREFOR, INCLUDING THE APPROPRIATION OF
$280,000 HELD IN TRUST AND AUTHORIZING THE ISSUANCE OF
$3,020,000 SERIAL BONDS OF SAID TOWN TO FINANCE THE
BALANCE OF SAID APPROPRIATION
THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF
SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote of not less than two-
thirds of all the members of said Town Board) AS FOLLOWS:
Section I. The Town of Southold, in the County of Suffolk, New York
(herein called the "Town"), is hereby authorized to construct a new Town animal shelter on the
site of the existing animal shelter located at 269 Peconic Lane, in the Town, including demolition
of the existing animal shelter, purchase of the original furnishings, equipment, machinery and
appazatus required for the purpose for which said new shelter is to be used and grading and
improving the site. The estimated maximum cost of said specific object or purpose, including
preliminazy costs and costs incidental thereto and to the financing thereof, is $3,300,000 and the
said amount is hereby appropriated therefor, including the appropriation of $280,000 from
moneys held in trust for the purpose of constructing a Town animal shelter. The plan of
financing includes the expenditure of said moneys held in trust, the issuance of not to exceed
$3,020,000 serial bonds of the Town to finance the balance of said appropriation and the levy
and collection of taxes upon all the taxable real property in the Town to pay the principal of said
bonds and the interest thereon as the same shall become due and payable.
Section 2. Serial bonds of the Town in the principal amount of not to exceed
$3,020,000 are hereby authorized to be issued pursuant to the provisions of the Local Finance
479412.1 023725 RES
Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York (herein called
the "Law"), to finance the balance of said appropriation.
Section 3. The following additional matters are hereby determined and
declared:
(a) Said new shelter will be of Class "B" construction as defined by Section
11.00 a. ] 1.(b) of the Law and the period of probable usefulness applicable thereto for which
said bonds are authorized to be issued, within the limitations of said Section 11.00 a. 11(b) of the
Law, is twenty-five (25) years.
(b) The proceeds of the bonds herein authorized, and any bond anticipation
notes issued in anticipation of said bonds, may be applied to reimburse the Town for
expenditures made after the effective date of this resolution for the purpose for which said bonds
are authorized. The foregoing statement of intent with respect to reimbursement is made in
conformity with Treasury Regulation Section 1.150-2 of the United States Treasury Department.
(c) The Town Boazd of the Town, acting in the role of Lead Agency pursuant
to the provisions of the New York State Environmental Quality Review Act, constituting Article
8 of the Environmental Conservation Law, and 6 N.Y.C.R.R., Regulations Pazt 617 ("SEQRA")
has heretofore determined that the project described herein is an Unlisted Action pursuant to
SEQRA. The Town Boazd has reviewed a Full Environmental Assessment Form and has
determined that the project will not result in any significant adverse environmental impact and a
negative declaration has been adopted and filed.
(d) The proposed maturity of the bonds authorized by this resolution will
exceed five (5) years.
Section 4. Each of the bonds authorized by this resolution, and any bond
anticipation notes issued in anticipation of the sale of said bonds, shall contain the recital of
479412.1 023725 RES
validity as prescribed by Section 52.00 of the Law and said bonds, and any notes issued in
anticipation of said bonds, shall be general obligations of the Town, payable as to both principal
and interest by general tax upon all the taxable real property within the Town without limitation
of rate or amount. The faith and credit of the Town are hereby irrevocably pledged to the
punctual payment of the principal of and interest on said bonds, and any notes issued in
anticipation of the sale of said bonds, and provision shall be made annually in the budget of the
Town by appropriation for (a) the amortization and redemption of the bonds and any notes in
anticipation thereof to mature in such year and (b) the payment of interest to be due and payable
in such year.
Section 5. Subject to the provisions of this resolution and of the Law and
pursuant to the provisions of Section 21.00 relative to the authorization of bonds with
substantially level or declining annual debt service, Section 30.00 relative to the authorization of
the issuance of bond anticipation notes and Section 50.00 and Sections 56.00 to 60.00 of the
Law, the powers and duties of the Town Board relative to authorizing bond anticipation notes
and prescribing the terms, form and contents and as to the sale and issuance of the bonds herein
authorized, and of any bond anticipation notes issued in anticipation of said bonds, and the
renewals of said bond anticipation notes, are hereby delegated to the Supervisor, the chief fiscal
officer of the Town.
Section 6. The validity of the bonds authorized by this resolution, and of any
notes issued in anticipation of the sale of said bonds, may be contested only if:
(a) such obligations are authorized for an object or purpose for which the
Town is not authorized to expend money, or
(b) the provisions of law which should be complied with at the date of the
publication of such resolution, or a summary thereof, are not substantially complied with,
479412.1 023725 RES
and an action, suit or proceeding contesting such validity is commenced within twenty days after
the date of such publication, or
(c) such obligations are authorized in violation of the provisions of the
constitution.
Section 7. This bond resolution is subject to a permissive referendum and the
Town Clerk is hereby authorized and directed, within ten (10) days after the adoption of this
resolution, to cause to be published in the "THE SUFFOLK TIMES," a newspaper published in
Mattituck, in the Town of Southold, New York and hereby designated the official newspaper for
such publication and posted on the sign board of the Town maintained pursuant to the Town
Law, a Notice in substantially the following form:
479412.1 023725 RES
TOWN OF SOUTHOLD, NEW YORK
PLEASE TAKE NOTICE that on May 22, 2007, the Town Board of the Town of
Southold, in the County of Suffolk, New York, adopted the resolution amending the Bond
Resolution which, as amended, is entitled:
"BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW
YORK, ADOPTED AUGUST 16, 2005, AND AMENDED MAY 22,
2007 AUTHORIZING THE CONSTRUCTION OF A NEW TOWN
ANIMAL SHELTER, IN SAID TOWN, STATING THE ESTIMATED
MAXIMUM COST THEREOF IS $3,300,000, APPROPRIATING SAID
AMOUNT THEREFOR, INCLUDING THE APPROPRIATION OF
$280,000 HELD IN TRUST AND AUTHORIZING THE ISSUANCE OF
$3,020,000 SERIAL BONDS OF SAID TOWN TO FINANCE THE
BALANCE OF SAID APPROPRIATION"
an abstract of said Bond Resolution, as amended, concisely stating the purpose and effect
thereof, being as follows:
FIRST: AUTHORIZING the Town of Southold ("Town") to construct a new
Town animal shelter on the site of the existing animal shelter located at 269 Peconic Lane, in
Town, including demolition of the existing shelter, purchase of the original furnishings
equipment, machinery and apparatus required and grading and improving the site; STATING the
estimated maximum cost thereof, including preliminary costs and costs incidental thereto and the
financing thereof, is $3,300,000; APPROPRIATING said amount therefor, including the
appropriation of $280,000 from moneys held in trust for the purpose of constructing a Town
animal shelter and STATING the plan of financing includes the expenditure of said moneys held
in trust, the issuance of not to exceed $3,020,000 serial bonds of the Town to finance the balance
of said appropriation and the levy and collection of taxes on all the taxable real property in the
Town to pay the principal of said bonds and the interest thereon as the same shall become due
and payable;
SECOND: AUTHORIZING the issuance of not to exceed $3,020,000 serial
bonds of the Town pursuant to the Local Finance Law of the State of New York (the "Law") to
finance the balance of said appropriation;
THIRD: DETERMINING and STATING the period of probable usefulness
applicable to said shelter, the purpose for which said serial bonds aze authorized to be issued, is
twenty-five (25) years; the proceeds of said bonds and any bond anticipation notes issued in
anticipation thereof may be applied to reimburse the Town for expenditures made after the
effective date of this bond resolution for the purpose for which said bonds are authorized; the
Town Board of the Town has heretofore determined that the project is an Unlisted action
pursuant to SEQRA; and the proposed maturity of said $3,020,000 serial bonds will exceed five
(5) years;
a~9aiz.i ozs~zs aEs
FOURTH: DETERMINING that said bonds and any bond anticipation notes
issued in anticipation of said bonds and the renewals of said bond anticipation notes shall be
general obligations of the Town; and PLEDGING to their payment the faith and credit of the
Town;
FIFTH: DELEGATING to the Supervisor the powers and duties as to the
issuance of said bonds and any bond anticipation notes issued in anticipation of said bonds, or
the renewals thereof; and
SIXTH: DETERMINING that the bond resolution is subject to a permissive
referendum.
DATED: May 22, 2007
Elizabeth A. Neville
Town Clerk
479412.1 023725 RES
Section 8. The Town Clerk is hereby authorized and directed to cause said bond
resolution, as hereinabove amended, to be published, in summary, in substantially the form set
forth in Exhibit "A" attached hereto and made a part hereof, after said Bond Resolution shall
take effect, in the newspaper referred to in Section 7 hereof, and hereby designated the official
newspaper for said publication, together with a Notice in substantially the form as provided by
Section 81.00 of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of
the State of New York.
* r
Section (B) The amendment of the Bond Resolution set forth in Section (A) of
this resolution shall in no way affect the validity of the contracts validly executed, indebtedness
incurred, action taken or liabilities resulting therefrom, pursuant to the said Bond Resolution, and
all such contracts executed, indebtedness incurred, action taken or liabilities resulting therefrom
shall be deemed to have been executed, incurred, taken or resulting therefrom, pursuant to said
Bond Resolution, as so amended.
Section (C) Said Bond Resolution, as herein amended, is subject to a permissive
referendum as therein provided. In the event that a valid petition protesting against said bond
resolution, as amended, and requesting that it be submitted to the electors of said Town for their
approval or disapproval, is filed and the Proposition submitted therefor is defeated, the validity
of the bond resolution adopted August 16, 2005, shall not be in any way affected and shall
remain in full force and effect.
Section (D) This resolution shall take effect immediately.
479412.1 023725 RES
Exhibit "A"
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK,
ADOPTED AUGUST 16, 2005, AND AMENDED MAY 22, 2007
AUTHORIZING THE CONSTRUCTION OF A NEW TOWN ANIMAL
SHELTER, IN SAID TOWN, STATING THE ESTIMATED
MAXIMUM COST THEREOF IS $3,300,000, APPROPRIATING SAID
AMOUNT THEREFOR, INCLUDING THE APPROPRIATION OF
$280,000 HELD IN TRUST AND AUTHORIZING THE ISSUANCE OF
$3,020,000 SERIAL BONDS OF SAID TOWN TO FINANCE THE
BALANCE OF SAID APPROPRIATION.
Object or purpose: to construct a new Town animal shelter on the site
of the existing animal shelter located at 269 Peconic
Lane, in the Town of Southold, including
demolition of the existing shelter, purchase of the
original furnishings equipment, machinery and
apparatus required and grading and improving the
site at the estimated maximum cost of $3,300,000;
appropriating said amount therefor, including
$280,000 held in trust for such purpose and stating
that construction of said new animal shelter has
been determined to be an Unlisted Action pursuant
to SEQRA and a Negative Declaration has been
adopted and filed
Amount of obligations
to be issued: $3,020,000
Period of probable
usefulness: twenty-five (25) years
A complete copy of the bond resolution summarized above shall be available for public
inspection during normal business hours at the office of the Town Clerk, at the Town Hall,
53095 Main Street, Southold, New York.
Dated: May 22, 2007
Southold, New York
479412.1 023725 RES
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 adopted.
~.*r***~
479412.1 023725 RES
CERTIFICATE
I, ELIZABETH A. NEVILLE, Town Clerk of the Town of Southold, in the
County of Suffolk, State of New York, HEREBY CERTIFY that the foregoing annexed extract
from the minutes the meeting of the Town Board of said Town of Southold duly called and held
on May 22, 2007, has been compared by me with the original minutes as officially recorded in
my office in the Minute Book of said Town Board and is a true, complete and correct copy
thereof and of the whole of said original minutes so far as the same relate to the subject matters
referred to in said extract.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the
corporate seal of said Town of Southold this 22"d day
of May, 2007.
(SEAL)
Town Clerk
479412.1 023725 RES
STATE OF NEW YORK )
:ss:
COUNTY OF SUFFOLK )
ELIZABETH A. NEVILLE, being duly sworn, deposes and says:
That she is and at all times hereinafrer mentioned she was the duly elected,
qualified and acting Town Clerk of the Town of Southold, State of New York;
That on May 2007, she has caused to be conspicuously posted and fastened
up a Notice setting forth an abstract of the Bond Resolution as amended pursuant to the
resolution adopted by the Town Board on May 22, 2007, a copy of which Notice is annexed
hereto and made a part hereof, on the sign board of the Town maintained pursuant to the Town
Law.
Town Clerk
Subscribed and sworn to before me
this day of May, 2007.
Notary Public, State of New York
479412.1 023725 RES