HomeMy WebLinkAboutTB-06/03/1947Meeting o~* June 3, 19~7
The SoUthold Town Board met at the office e£ the SuperviSor S.
Wentworth Horton at Greenport, on Tuesday, June 3, 19~7. The .
meeting Was called to o~d~r at t:~O-P.M, with the following present.-
SuperVisor Horton; Justices Terryl Hawkins; Klipp and Tuthill; Town
S~pe~intendent of Highways, Price, Town Attorney, Terry and Town Clerk,
Booth.
The Board sat at once as a committee on audit to examine claims
against the Town, concluding the audit at 2:00 P.M,
The minutes of the previous meeting were read and duly approved
as read.
Moved by Justice Klipp; seconded by Justice Terry:
Resolved: That General Bills in the amount of $3,117.59, Non-
reimbursable Welfare Bills in the amount of $18~25 be and the same
is hereby ordered paid.
Unanimously adopted.
Moved by Justice Terry; seconded by Justice Klipp:
Resolved: ~hat the regular monthly meeting of ~is Board be held at
the Suoervisor's office on Thursday, J.u~e~l~
Fishers Island.
Moved by Justice Tuthill; seconded by Justice Hawkins:
Whereas,. ~he Town Board of the Town. of Southol~, N.Y~, by a
resolution duly adopted the 23rd day of Mayi 19~7, authorized the
Town Superintendent of Highways to purchase certain equipment fo~
highway construction and maintenance at a total cost of $10,215.20
subject, to the approval of the ¢ounty~ Superintendent of Highways~ ....
and provided that $9,000. of such cost was to be paid from the pro-
ceeds of obligations to be issued pursuant to the Local Finance
Law, and
WMEREAS, a contract of purchase for smch equipment was duly entered
into by the Town Superintendent of Highways on the 23rd day of May~
1957~ which contract has been duly approved by the County Superin-
tendent of Highways.
THEREFORE, BE IT RESOLVED:
N°Wi.' The specific object or purpose for which obligations are
to be issued pursuant to this resolution is to finance the cost
of
1-Model H D I 0 W Allis Chalmers Diesel Tractor 75" tread, 2 cycle
Diessel engine, 20" H.Y. Track Shoes, positive seal truck wheels &
front idlers; truck wheel? f=o~t idler and sprocket guards; full
width crankcase guard; extra heavey radiator guard; muffler;
adjustable radiator shutters;.bmmper~ front pull hook; electric
starting & lighting equipment, hoed side plates withGar~ood R C
D X hydraulic Bulldozer with front pump.
2. The maximum cost of suchequipment .is $10,215.20 and the
plan of financing such cost is as follows: A down payment of $1~215.20
is to he paid from the machinery fund~ and the balance o~ the cost
is to be provided by the issuance of~capital note in the amountof
$9,000. pursuant to this resolution.
3. The following determinations-are hereby made:
{a) The period of probable usefulness of such equipment
is five years.
(b~ The subdivision of paragraph a of Section ll.OO of the
Local Finance Law which is applicable in the circumstances ism~
subdivision "28".
(c) The proposed maturity of the obligations authorized by
this resolution will not be in excess of one year.
$. The down payment required to be provided pursuant to
Section 107.00 of the Local Finance Law has been provided from
current funds. ~
5. That the Town of Southold issue its Capital Note in the
amount of $9,000.00 to finance cush cost in accordance, with the
financial plan set forth above. Such note shall be executed by
the Supervisor and shall bedated approximately as of the date of
~elivery of such equipment and the power to fix and determine the
exact date of such obligation and the sale thereof is hereby
delegated to the Supervisor.
6. Such Note shall be in the denomination of $9,000. and
shall bear interest at the rate not exceeding two per cent per
annum.
Such Note shall be in substantially the'following form:-
No. i UNITED STATES OF AMERICA $9,O00.OO
STATE OF NEW YORK
COUNTY OF SUFFOLK
TOWN OF SOUTHOLD
CAPITAL NOTE OF 1957
The Town of Southold, in the County of Suffolk, a municipality of
the State of New~ork~ hereby acknowledges itself indebted and for
value received promises to pay to the bearer of this note the sum
of NINE THOUSAND ($9,0OO.) Dollars~ on the day of
19~8, together with interest thereon from the date hereof at the
rate of 1.20 per centum (1.20%) per annum, payable aD~ually. Both
principal of and interest on this note will be paid in lawful money
of'the United States of America, at the office of the Supervisor,
Greenport, Suffolk County, New ~ork.
This note may not be converted to registered form.
This note is the only note of an authorized issue in the amount
of NINE THOUSAND ($9~000.) Dollars.
LThis note is issued pursuant to the provisions of a resolution
entitled "Capital Note Resolution~ duly adopted by the Town Beard of
such Town of SoUthold on June 3~ 19~7'~
The faith and credit of such Town of Southold are hereby ir-
revocably pledged for the punctual payment of the principal of and
interest On this note according to its terms.
It is hereby certified and recited that all conditions,
acts a~nd~things repuired by the Constitution and statutes of the State
of New York to exist, to have happened and to' have beeh perfumed
precedent to and in the issuance of this note, exist, have happened
and have been perf6rm~d, and that~this note, together with all other
indebSedness of such Town of Southold is within every debt and other
limit prescribed by the Constitution and laws of such State.
IN WITNESS WHEREOF, the Town of Southold, New York, has caused this
Note to be signed by its SupervisOry and its 5orporate seal to be
herettuto affixed and attested by its Town Clerk and this Note to be
dated as of the day of June~ 19~7.
Townof So~thold, Ne~w
(ToWn S~al)~ ~ ~ SUpervisor
Attest:: ~~ ~
Tow~ Cl%rk of the Town of Southold, New York
The Supervisor is hereby delegated the p~wer to prepare such note
and to sell such obligations at private sale at not less than par and
accrued interest, and at such sale to fix interest date to be
borne by such obligations within the limitations set forth in this
resolution. The Supervisor shall deliver such obligations to the
purchaser thereof only against cash or a certified check. The proceed~
of~sa!e of the obligations shall be deposited in a special bank account
as required by Section 165.OO ~f the Local Finance Law~ The powers
delegated to the Supervisor by this resolution shall be exercised
in conformity with the provisions of the Local Finance Law. This resolution shall take effect immediately.
Uponthe question of the adoption of the foregoing resolution,
the-following each voted "Aye" in favor of the resolution~ Sup~r-
~is?~ S.~Wentwort~ Horton, Justices of ~he peace, HarryTerry,
ne~Oert'M. Hawkins, N~rman E. Klipp and Halph Wo Tuthill.
iThe resolution~ having received at least a two-thirds vote of the
memb~r~ of the Town B~rd, was declared by the ~upervisor to be duly
adopted.
Adjottnnment was at ~:00 P.M.
Ralph P. Booth
Town Clerk