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.