Loading...
HomeMy WebLinkAboutLandfill Remediation ~ERED R-16 UNITED STATES OF AMERICA STATE OF NEW YORK COUNTY OF SUFFOLK TOWN OF SOUTHOLD EFC LANDFILL REMEDIATION SERIAL BOND-1996 REGISTERED $15,000 MATURITY DATE December 15, 2011 INTEREST ~ATE 5.05% DATE OF ORIGINAL ISSUE February 15, 1996 REGISTERED OWNER: TICE & CO. PAL SUM: FIFTEEN THOUSAND DOLLARS 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 the REGISTERED OWNER named above, or registered assigns, on the MATURITY DATE (stated above), the PRINCIPAL SUM (stated above) upon )resentation and surrender of this bond (i) for so long as this bond is held by or for the benefit of New York State Environmental Facilities Corporation or of holders of its bonds, either at the principal corporate trust office in Buffalo, New York or at the ~paying agency office in New York, New York of Manufacturers and Traders Trust Company as depository bank (herein called "Depository Bank"), or at the principal corporate trust office of any successor ithereto or (ii) at any time thereafter, at the fiscal agent office ~desiqnated by the Town of Southold for such purpose, and to pay interest on such principal sum from February 15, 1996 or from the recent interest payment date to which interest has been paid, or unless interest on this bond shall be in default, in which event this bond shall bear interest from the date to which interest has been paid in full, at the INTEREST RATE (stated above), payable on June 15, 1996, December 15, 1996 and semi-annually thereafter on June 15 and December 15 of each year until maturity. Interest hereon shall be payable at said offices of the Depository Bank or at said fiscal agent office, as appropriate, on each interest date. The principal of and interest on this bond are payable in any coin or currency of the United States of America which at the date of payment is legal tender for the payment of public and private debts. REFERENCE IS MADE TO THE FURTHER PROVISIONS OF THIS BOND SET FORTH HEREIN. The fai~ 'credi~ 0f the Town' irrevocably pledged to the punctual payment of the principal of and interest on this bond according to its terms. It is hereby certified and recited that all conditions, acts and things required by the Constitution and statutes of the State of New York to exist, to have happened and to have been performed precedent to and in the issuance of this bond, exist, have happened and have been performed, and that the issue of bonds of which this is one, together with all other indebtedness of the Town of Southold is within every debt and other limit prescribed by the Constitution and laws of such State. IN WITNESS WHEREOF, the Town of Southold has caused this bond to be executed in its name by the manual signature of its Supervisor and its corporate seal (or a facsimile thereof) to be affixed, imprinted, engraved, or otherwise reproduced hereon and attested by the manual signature of its Town Clerk. ATTEST: ~ Town- Clerk 1994 Goes 357 I ITHO IN U S A This bond is one of an authorized issue, the principal amount of which is $300,000, the bonds of which are of like tenor, except as to number, maturity, interest rate, redemption privilege and denomination, and is issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York (the "Law"), the bond resolution duly adopted by the Town Board of the Town of Southold on March 7, 1995, authorizing the issuance of serial bonds of the Town to abandon the refuse disposal landfill area known as the Fisher's Island Metal Dump, on the western side of Fisher's Island, in said Town (the "Resolution"), and the Certificate of Determination executed by the Supervisor as of February 8, 1996, determining the terms, form and details of issuance of said $300,000 EFC Landfill Remediation Serial Bonds-1996 (the "Bonds") and providing for their private sale (the "Certificate of Determination"). This bond is transferable or exchangeable, solely in accordance with the terms of the Project Financing and Loan Agreement dated as of February 1, 1996 between the Town of Southold (the "Town") and the New York State Environmental Facilities Corporation (the "Corporation"), only upon the books of the Town kept for that purpose, by the registered owner hereof in person, or by his attorney duly authorized in writing, upon the surrender of this bond together with a written instrument of transfer or exchange satisfactory to the Town duly executed by the registered owner or his attorney duly authorized in writing, and thereupon a new bond or bonds, in the same aggregate principal amount and of the same maturity, shall be issued to the transferee or the registered owner in exchange therefor as provided in the Certificate of Determination and upon the payment of the charges, if any, therein prescribed. On or after June 15, 2006, at the option of the Town, the Bonds maturing after June 15, 2006 shall be subject to redemption prior to maturity, in principal amounts of $5,000 or integral multiples thereof, in whole at any time or in part on any interest payment date, from any moneys available therefor, in such order of maturities as shall be determined by the Town at the redemption prices (expressed as percentages of the principal amount of such Bonds or portions thereof to be redeemed) set forth below, together with accrued and unpaid interest to the date fixed for redemption: Period During which Redeemed Iboth dates inclusive) Redempt ion Price June 15, 2006 through June 14, 2007 102% June 15, 2007 through June 14, 2008 101 June 15, 2008 and thereafter 100 Notwithstanding the foregoing, no Bond or portion of a Bond that is not in an amount which is an integral multiple of $5,000 shall be subject to such redemption at the option of the Town without the express written consent of the Corporation. Any such redemption, either as a whole or in part, shall be made upon at least forty-five (45) days and no more than sixty (60) days prior written notice to (i) the Corporation and to the Trustee during any period when the Bonds are held by or for the benefit of the Corporation or of holders of its bonds or (ii) any successor holders of the Bonds at any time thereafter. The moneys necessary for any redemption of Bonds shall be paid to or deposited with (i) the Trustee during any period when the Bonds are held for the benefit of the holders of Corporation Bonds and (ii) any fiscal agent designated by the Town during any period when the Bonds are otherwise held, in either case on or prior to the redemption date. All Bonds called for redemption will cease to bear interest on the specified redemption date, provided funds sufficient for the redemption of such Bonds are on deposit with the Trustee or fiscal agent, as appropriate. If such moneys are not available on the redemption date, the Bonds or portions thereof will continue to bear interest until paid at the same rate as they would have borne had they not been called for redemption. (FORM OF ASSIGNMENT FOR VALUE RECEIVED, the Undersigned hereby sells, assigns and transfers unto Please Insert Social Security or other identifying number of Assignee(s): all rights thereunder, and hereby appoints the within bond and irrevocably constitutes and attorney to transfer the within bond on the books kept for registration thereof with full power of substitution in the premises. Dated: NOTICE: The signature to this assignment must correspond with the name as it appears upon the face of the within bond in every particular, without alteration or enlargement or any change whatever.