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HomeMy WebLinkAboutProposed Bond Issue s r� November 3, 1972 Richard F. Lark, Esq. U Wickham & Lark Mattituck, New York 11952 1 � Re: Town of Southold, Suffolk County Mattituck Park District - Proposed bond sue Our File 5819-G h A Dear Dick.- , Jr In accordance with your telephone req t of October 30 , I have researched the law with respect to th suthorixation of land g \y • acquisition for the Mattituck: Park Distri The law governing this matter i ter 924 of the Laws of 1941, as amended by Chapters 710 an 712 f the Laws of 1943. Under Section 3 of Chapter 924 of the Laws of 1941, specifically as amended by Chapter 710 of the Laws of 1943, it is our opinion that no vote of the electors of the park district is necessary where the land acquisition is to be financed by the issuance of bonds pursuant to the Local Finance Law. In addition, the bond resolution itself need not be adopted subject to permissive referendum, because the cost of the land acquisition is to be levied and assessed against the taxable real property of the park district and collected in the same manner and at the same time as Town taxes . Subparagraph 2 of paragraph b of Section 35 .00 of the Local Finance Law specifically exempts from the permissive referendum requirements any bond resolution autho- rizing the issuance of bonds for an improvement authorized by any general or special law where the cost thereof is to be assessed upon benefited real property. Accordingly, it is my opinion that the Town may proceed with a bond issue for land acquisition for the Mattituck Park District in the same manner as was followed in 1956 . There is, however, one problem: Section 5 of Chapter 924 of the Laws of 1941 (which to my knowledge has not been amended) specifically provides that the aggregate principal amount of all Richard F. Lark, Esq. -2- 14ovembe r 3, 1972 Town bonds issued pursuant to such chapter and outstanding at any one time shall not exceed $50 ,000. The $45 ,000 bond issue sold in 1956 was prepared to mature $2 ,000 on October 1 in each of the years 1957 to 1971, both inclusive , and $3 ,000 on October 1 in each of the years 1972 to 1976 , moth inclusive . This means that $12 ,000 of this issue is still outstanding, so that the total issue of bonds which could be issued between now ar_d October 1, 1973, could not exceed $38,000 . 1 believe in our telephone con- versation you mentioned a figure of $50 ,000 . For the purposes of Chapter 924 , bond anticipation notes should be regarded as synonyrous with bonds , so that it would not be possible to consider a schele whereby the Town would authorize $50 ,000 serial bonds now and finance by the issuance of bond antici- pation notes until the last of the 1956 issue raturec . With best wishes , Very, truly yours , ATG/rc Novem'.ber 9 , 1972 Richard 1% Lark, Lsq. Wickhant & Lark Mattituck, view York 11972 Re : Town of Southold, Suffolk County, New York i,lattituck Park District - Proposed bond issue Our File 5819-G Dear Dick: Following up your telephone inquiry of November 8th in response to our letter of November 3rd, please be advised that Chapter 712 of the Laws of 1943 has been amended Uy Chapter 339 of the Laws of 1945 (see page 915) . Chapter 339 provides for the repeal of Section 5 of Chapter 924 of the Laws of 1941 only, instead of the repeal of all of Chapter 924 , as was originally provided in Chapter 712. '"it."I best wishes , Very truly yours , IPTG:af 1 xxxxx 267-3400 December a , 1972 Richard F. Lark, Esq. Wickham & Lark Mattituck, Lona Island, New York 11952 Re : Town of Southold, Suffolk County Matti tuck Park District Acquisition of real property our File 5$19-G Dear Di ck: Thank you for your letter of December 1 with enclosures , received December 4. Let rye first address my attention to the last sentence in the first paragraph of your letter. I really cannot suggest any particular form of contingency clause that you can insert into the contract for the purchase of the land concerning the receipt of money by the Park District . It seems to me , however, that you could Make the contract conditional upon the conclusion of successful financing of the purchase money pursuant to the Local Finance Law. As requested, I am enclosing herewith a suggested fora of resolution to be adopted by the Board of Park Corissioners . once this resolution has been adopted, and sore forei of written request is made by the Park Commissioners to the Town Board, the Town Board may proceed irzmediate ly to adopt the enclosed bond resolution by at least a two--thirds vote of the entire voting strength of. such Torn Board. You will note that I have left the monetary amount blank. I did this knowing full well that the contract price is $23,000 . It occurred to me , however, that you may wish to increase the amount to be inserted in the two resolutior6 enclosed to take into account legal expenses and other incidental costs . we estimate that our fee in connection with this matter will not exceed $575 . '[ -2- We -2_We enclose herewith a suggested form for the legal notice of estoppel, which should be published once in the official newspaper_ of the Town after adoption of the enclosed bond resolution. As soon as available, please furnish us with the following: 1) A certified copy of the resolution adopted by the Board of Park Commissioners . 2) A certified copy of the bond resolution, showinv, the vote taken thereon. 3) An original printer's affidavit of publication of the enclosed legal notice of estoppel . With our best wishes for a Happy holiday season and a prosperous New Year. Very truly yours , zTG/s t ncls . At a meeting of the board of PArk eommissioners of the Mattituck Park, District In the Town of Southold , 11',',uffolk County, low York , held at Mattituck, In sald Town, on the day of 197,, . at o 'clock, Eastern Standard Time. The meetIng was called to order by and the roll being called, there were PRESENT; ABSLNT: The foll.owinv resolution was otrored by w1ho moved its adoptibn, seconded by to-wit RESOLUTSON DATED A RESOLUTION AUTHORKTNG TITE ACQVisrTION OF C&RTAn REAL FROPLPTY IN AND M_R THE Y'ATT1111CY, PARK VIS TRICT` IN THF TOWN OF SOUTTIOLD, SUFFOLK COUNTY, NEW YORK, AT A !1AXV-1U!1A1 ESTIMATED COST , INCLUDTNI INCIDENTAL EXrENSES , of 000 BE IT RESOLVEV, 10y the Board of Park CorAml oks loners of the Mattituok Park. IDletriet In trio Town of Slouthold , 'S%uffolk County, Now York , as follows; Soctllon 1 . Pursuant to the provisions of Section 3 of Chapter 924 oftine laws of 11;141 , as amended, the 4cqu3sition of the follovIng deacrited property for the Nattituck Park District in the Town of Southold , sufrolk County, Ntfw York, In hereby authorized at a maximum tatimated cost , Includitir, lneldental oxi'le.naes, of $(`;*Jd property Ir bounded and describ^d as follown '. A ALL TEAT CERTAIN PLOT, PIECE OP PARCEL OF LAND, situate , ly1nF and being at ,Ylattltuck , In the Town of ."outhold, County of Suffolk and State 4 of New York , and bounded and denambed as follows : BEGILNING at a concrete monum*rt set onthe southerly 11ne of Aaln Road at the northwesterly correr of land of A•attltuck School Dintrlct -, running thence along said land of Mattituck School Vi3trlot , flvt couractas follows ; (2 ) South 130 2V on"' EAst 184 .11,0 feet to a concrete monument , thence (2) Pouth 5r "61 CC'," Fast 141.5 feet to a post , thince ( 3) Nortt: S('-o 0,11 0o" East 101.'..55 feet to a r1pe t.hence (4) 1.ortb 72° 0_9 * On" East 6fi. 1d't; feet to a pire !,*hence (a) South 8f If 00" East 120.4 feet to a pipe at the Shore of fi arratooka .Lake.* thernco Southerly along they shore of Said Marra�tooka Sake about 245 rOOt to land of John. Pylko th*nce along said land of Jahn Pylko, South 88° 32' 009 West about 500 feet to land conveyed or about to be convey*# by the party of the first Part to Ralph Cox 4 then** alone the last described land, North 15" 07' 20" West 412,29 feet to a stake not on the southerly line of main Road thOnGO along said southorl - line of Main road tort?i 57. 44, 4c" East 141.2 feet to tha Point of beginning. h4 sires are desesr1b*4 In deed dated July 25, 1945 and recorded in the Suffolk County Clerk's Office In L3b*r 2481 of Deeds page 458. Rection 2. The Town Beard of the 'Down of Southold, Suffolk CountJ4A*w York, is hereby roqurested to authorixe the issuance of 8?q,000, serial bonds of said Town pursuant to the provisions of the Local Finane~e Law to pay a part of the maximum estimated cost Of such object or purpose. Section 1. A certified copy of this resolution shall be filed with the'Torn Board of said Town. Se� This resolution shall take effect immediately. ar # s LEGAL NOTICE AL NOTICE IS HEREBY GIVEN that the resolution published herewith has been adopted by the Town 56a2du6f#`tth* WcWA,,:-)6]E SotftpIdt Suffolk County, New York, on the day of 197 , and 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 said Town is not authorizedto expend money, or if the provisions of law which should have been complied 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 this notice, or such obligations were authorized in violation of the provisions of the Constitution. Dated: , New York, 197_. Town C le r t 5819-G At a meeting of the Town Board of the Town of Southold, Suffolk County, New York, held at , in said Town, on the day of , 197_, at o'clock ,_„_.M. , Eastern Standard Time. The meeting was called to order by , and upon roll being called, the following were PRESENT: ABSENT: The following resolution was offered by who moved its adoption, seconded by - , to-wit: BOND FESOLUTION DATED , 197_. A RESOLUTION AUTHORIZING THE ISSUANCE OF $ SERIAL BONDS OF THE 'TOWN OF SOUTHOLD, SUFFOLK M iTY, NEN YORK.. TO PAY 7HE COST OF THE ACOUI5ITION OF CERTAIN REAL P ROPE RTY IN AND FOR THE MATTI TUCK PARK DISTRICT IN SAID TOWN. WHEREAS , the Board of Park Commissioners of the Mattituck Park District in the Town of SolAthold, Suffolk County, Now York, duly adopted a resolution an the day of —, 197 , authorising the acquisition of certain real property, as therein described, in and for said spark District, at a maximum estimated cost, including incidental expenses, of $ , which resolution requests this Town :Board to authorise the issuance of $ serial bonds of said Town to pay said maximum estimated cost; NOW, THEREFORE BE IT RESOLVED, by the Town, Board of the Town of Soathold, Suffolk County, Now York,, as follows: Section 1. For the specific object or purpose of paying the cost of the acquisition of the real property referred to in the preambles hereof in and for the Mattituck Park District in the Town of Southold, Suffolk County, Now York, there are hereby authorized to be issued $ serial bonds of said Town pursuant to the Local Finance Law. ` -2- Section -2-section 2. The maximm eestirmted cost of such specific Object or purpose, including incidental, expenses, if ��,_..��� �,.. � and the plan for the financing of such maximum estimated cost is by the issuances and sale of � serial bonds of said Town herein authori zesd. Section 3, it is hereby deteerrU ne►d that the period of probable usefulness of such object or purpose, pursuant to subdivision 21 of paragraph a of Section 11.00 of the Local Finance Law, in thirty years, and that the maximum maturity of the bonds herein authorized will exceed five years. section 4. The faith and credit of the Town of Southold, Suffolk County, sew York, axe hereby irrevocably pledged for the payawnt of said bands and the interest thereon. '`o pay said bonds and the interest thereson, there shall annually be levied and assessed against the taxable weal property of said Park District, and collected in the same manner, at the same time, and by the same officers as the taxers of said Town are levied, assessed and collected, an amount sufficient to pay such principal and interest as the same respectively become duet and payable, but if not paid from such source, all the taxable real property within the Tc wn will be subject to the levy of ad valorem taxes to pay said bonds and interest thereon without limitation as to rats or miount. Section S. Subject to they provisions of the Local Finance Lair, the power to authorize the issuance of and to sell bond anticipation notes in anticipation of the issuance and salt of they serial bonds herein authorized* including renewals of such notes, is hereby delegated to the: Supervisor, the chief fiscal. officer. Such notes shall be of such terms, form and contents, and shall be sold in such rsrannessr, as may be prescribed by said Supervisor, consistent with the provisioner of the Local Finances Law. -3- Ali Section6 . The validity of such bonds and bond anticipation notes may be contested only ifs l) such obligations are authorized for an object or purposge for which said Town of SoUthold is not authorized to expand money, or , 2) The provisions of law which should be complied with at the date of publication of this resolution are not sii>stantially complied Frith# and an action, suit or proceeding contesting such validity is com- menced within twenty days atter the date of such publication, or 2) such obligations are authorized in violation of the provisions of the Constitution. Section 7. This resolution, which taken affect immdiateely, shall be published in full in the Long Island Traveler - Mattituck Watchman# a newspaper published at Southold, Town of Southold, Now York., and in the Suffolk Timers# published at Greaenport, 11'own of Southold, New York, both papers having a general circulation within the Town of Southold, together with a notice of the Town Clark in substantially the fore provided in Section 81.04 of the Local Finance Law. The question of the adoption of the foregoing resolution was duly put to a vote on roll call, which resulted as follows: VOTING VOTING VOTING VOTING VOTING VOTING The resolution was thereupon declared duly adopted. 1 STATE OF NEW YORK ) ss. . COMITY OF SUFFOLK ) I , the undersigned Town Clerk of the Town of Southold, Suffolk County, New York , DO HEIEAY CERTIM : That I have compared the foregoing copy of the minutes of the meeting of the Town Board of said Town, including the resolution contained therein, held on the W _ day of � , 197_, with the original thereof on file in ray office, and that the same is a true and correct copy of said original and of the whole of said original so far ag the same relates to the subject matters therein referred to. I FURTHER CERTIFY that all mer�.bers of said Board had due notice of said meting. IN 14ITNESS WIFMOF, I have hereunto set my hand and affixed the seal of said Town this day of M, 197 . ��. Tawn Clerk (SE AL) Jr LAW OFFICES WICKHAM & LARK WILLIAM WICKHAM MATTITUCK,LONG ISLAND RICHARD F.LARK NEW YORK 11952 S16-298-8353 December 1 , 1972 Sykes , Galloway & Dikeman !+ 12-17Z 120 Broadway New York, New York 10005 aA a:Z on ATT : Alexander T . Galloway II , Esq . RE : Your File No . 5819-G Mattituck Park District from Schwicker Dear Tom: The Mattituck Park Commissioners have requested that I write you in order for your office to prepare the necessary resolution to be adopted by the Board of Park Commissioners authorizing the acquisition of the above captioned property and requesting the Town Board to authorize the issuance of bondsiand the necessary bond resolution and legal notices to be adopted and published by the Town Board. I am enclosing a copy of the contract along with a survey that has recently been submitted to me by the attorney for the seller. If you have any suggested contingency clause language that I,/can insert concerning receipt of the money by the Park District ih order to close on the contract , please advise . If you have any questions , do not hesitate to call . Very truly yours , $'chard F . Lark RFL/mlf Enclosures LAW OFFICES WICKHAM & LARK R WILLIAXICKHAM MATTITUCK,LONG ISLAND RICHARD F.LARK NEW YORK 11952 +- �. 516-298-8353 `••'A' February 21, 1973 tiN 17 4W, Galloway & llikeu Sykes , Galloway & Dikeman 120 Broadway New York, New York 10005 RE : Town of Southold, Suffolk County Mattituck Park District Acquisition of real property Your File 5819-G 6 ATT : Alexander T. Galloway II , Esq. Dear Tom: Pursuant to your letter of December 8 , 1972 in connection with the above captioned matter, I am enclosing the following : 1 . Certified copy of resolution adopted by the Board of Park Commissioners on December 13, 1972 . 2 . Certified copy of bond resolution adopted by the Town Board on January 23, 1973 • 3 . Original printers ' affidavits of publication of the legal notice of estoppel (Suffolk Weekly Times and The Long Island Traveler-Mattituck Watchman) . Would you please prepare the necessary documents for the bond anticipation note to present to the Town Board and give me a list of what procedures you want to follow to effectuate the sale of the serial bonds . I would like to have this to present to the Town Board on February 27th as title closing is to be early in March for which I will need the funds . Very truly yours , Richard F. Lark RFL/mlf Enclosures February 23, 1973 Richard F. Lark, Esq. Wickham & Lark Mattituck, Long Island, New York 11952 Re: Town of Southold, New York Mattutick Park District - $24,000 Bond Anticipation Note, 1973 Our file 5819-G Dear Dick: In accordance with your letter of February 21st, we have examined the enclosures and find them to be in proper order so that we have now prepared and enclose herewith forms of the following in connection with the above nota: 1) Bond anticipation note certificate with form of note attached; 2) Original note; and 3) Closing Certificate. In due course, please furnish us with executed counterparts of items 1 and 3 above, which will enable us to release our approving opinion. With best wishes, Very truly yours, ATG:rb Enclosures 5819-G B014D ANTICIPATION NOTE CERTIFICATE DATED FLBRUARY 27, 1973. CERTIFICATE OF THE SUPERVISOR OF' THE TOWN OF SOUTHOLD, SUFFOLK COUNTY, NEW YORK, AUTHORIZING THE ISSUANCE OF A $24,000 BOND ANTICIPATION NOM Or SAIL) TOWN TO PAY THE COST OF THE ACQUISITION OF CERTAIN RAL PROPERTY IN A114D FOR THE MATTITUCK Pry RIDISTRICT IN SAID TOWN. I , the undersigned Supervisor of the Town of Southold, Suffolk County, New York, DO HEREBY Cl-Ri:IFY. 1. Pursuant to bond resolution dated January 23, 1973* duly adopted by tie Town Board of said Town on said date, autl iorizing the issuance of X24,000 s-rial bonds of said Town to pay the cost of the acquisition of tbatainlreal )prbpert I jfc.An�-,etndoftr the Mattituck Park District, including incidental expenses, which is an assessable improvement, and delegating to me, as chief fiscal officer, power to autliorize the issuance of and to sell bond anticipation notes, including renewals thereof, in anticipation of the issuance and sale of said bonds , which power is in full force and effect, and has riot been modified, amended or revoked, I HERL13Y AUTHORIZE the issuance of a bond anticipation note of said Town in the principal amount of $24,000 in anticipation of the sale of said bonds. Said note shall be dated February 27, 1973, shall be numbered 1, shall be of the denomination of $24,000 , shall bear interest at the rate of per centum per annum, payable at maturity, shall mature on February 27, 1974, and both principal of and interest on said note shall be payable in lawful money of the United States of America at in New York. Such note is not a renewal note. 2. The specific object or purpose for which said note is hereby authorized to be issued is to pay the Cost of the aforesaid specific object or purpose. The amount of serial bonds to be issued for such specific object or purpose is X24 ,000. 3. No bond anticipation notes are presently outstanding or have heretofore been issued in anticipation of the sale of said bonds. - 2 - 4. Such note shall be executed n the name of said Town of Southold, New York, by its Supervisor, sealed with its corporate seal, attested by its Town Clerk, and the same shall be in substantially the form attached hereto. Such note is hereby sold at private sale to _..Y. _.._� _.. . __ _�.._._. �..w .�..._ __.. .. in M,... . ..�., .� New York, at a price of not less than par and accrued interest, if any. To the best of my knowledge and belief, no officer or employee of said Town has an interest in the sale of said note prohibited by Article 18 of the General Municipal Law, as amended. Dated: Southold, New York, February 27, 1973, Supervisor An executed counterpart of the foregoing certificate, with form of note attached, was filed with the Town board of said Town, this 27th day of February, 1973. . Tow—n C-er7 (S 1: A L) COUUTY UP SUM)LA TOWN Cid' SoUlSoLU bOND ANTICIPAT10N iiOTL, 1973 2d,000 The Town of Sou"old, In tz* COuntY Of SUffolko a municipality MUTY-FOUlk THOUSAND !Xx.L;ot.s ($24,,000) 27th February 74 in Now 04 January 23, 1973* and also Pursuant to' *,BQ-wD AiiT1C1PA'rI(),N , U0TL' CEMA`IMATL UA` LC# ?KZKUj%RY 27# 1973. CERTIFICATE OF THS SUPI;F�,V15e0r( or THL Towu oy SoUTUOLDO SUrPOLK COUNTY, SM YOM, AUTHORIZZaG i%..i; IsSUA,,,,4CL 1�z .1. 424,040 SOND ANTICIPATION NOTE OF SAID Tow4 TO PAY 717UL COST OF Tat ACQUISITION OF CERTAIN R PTUVPL,,�tTY IN !AA-D FOP QHS HATTITUCK PARK DISTRICT IW SAID TOWN. " 27Ui February 73 TOWN Ur SUUTHOLD, SUFFOLN LOVNTY, NXW YORK By ti-lv 'A' own Of ",outaolo, ,iuffoli, %:OUJ,4tyt i.Ow York,, &4 ,�J4onj eqiticietitioll IOto,, 1973 24 ,000 xxx 1*el�ruary 27 73 'umbarad 1 an ' nlaturi.-o, PiaLruary 27 , 1974. j 24,000.00 27th Fobruary 73 Oupervisor "sown Llark February 23, 1973 Richard F. Lark, Esq. Wickham & Lark mattituck, Long Island, New York 11952 Re: Town of Southold, Suffolk County 7-,",.attituck Park District Land Acquisition Financing our File 5819-G Dear Dick: Following up my letter of February 23, 1 would now like to address the question of what is necessary to effect the sale of serial bonds in connection with the above matter. For an issue of this small size ($24,000) , 1 would recommend one of three courses : 1. The issuance of a statutory installment bond. This would be authorized pursuant to a further resolution to be adopted by the Town Board, setting forth the details of the bond issue, including a schedule of maturities. Naturally, we cannot draft this resolution until we have been advised by you as to the amount of years over which the Town wishes to finance this matter. Generally, a statutory installment bond would have to involve a maturity schedule of ten years or less,, the lesser the better. Also, a statutory installment bond would have to be sold June of this year and it could not bear an interest rate in excess of 5%. The maximum amount of serial bonds whicheay be sold in a given fiscal year is $100,1 so that if the Town of Southold has to date this year sold more than $76,000 principal amount of statutory installment bonds, it could not now sell this issue as a statutory installment bond. 2. Finance this issue by the issuance of bond anticipation notes until the Town is ready to consolidate and sell other outstanding bond authorizations as a consolidated bond issue. r -a- 3. Finance this issue entirely by the issuance of bond anticipation notes over a period not to exceed five years. This would include no other Town Board action and principal payments against bond antici- pation note renewals should be scheduled as follows; $4,000 in 1974 and $5,000 in each of the years 1975 to 1978, both inclusive. with best wishes, Very truly yours, ATG/st LAW OFFICES WICKHAM & LARK WILLIAM WICKHAM MATTITUCK,LONG ISLAND RICHARD F.LARK NEW YORK II9S2 516-298-8353 March 8 , 1973 � r 1 Sykes , Galloway & Dikeman _ 3 ��1� Attorneys and Counsellors at Law AR 120 Broadway New York, New York 10005 "ykes, Galloway & Dikeman ATT : A . Thompson Galloway II RE : Town of Southold, New York Mattituck Park District - $24 ,000 Bond Anticipation Note, 1973 Your File 5819-G Dear Tom: In connection with the above captioned matter I am enclosing the following : 1 . Fully executed bond anticipation note certificate with form of note attached . 2 . Fully executed Closing Certificate Please send us an original and two copies of your approving opinion. Very truly yours , Richard F . ` Lark RFL/mlf Enclosures March 12, 1973 Richard F. Lark, Esq . Wickham & Lark Mattituck, Long Island, New York 11952 Re: Town of Southold, Suffolk County Mattituck Park District $24, 000 Bond Anticipation Note, 1973 Our File 5819-G Dear Dick: Thank you for your letter of March 8 with enclosures, received Larch 9 . We are enclosing herewith signed copies of our approving opinion in connection with the above bond anticipation note . Please advise as to the mode of financing to be utilized in connection with this financing, as it will affect our biding. With best wishes, Very truly yours, G/st Enc 1 . March 12, 1973 Town of Southold, County of Suffolk, State of New York TOWN OF SOUTH©Lb, SUFFOLK COUNTY, NEW YORK $24,000 BOND ANTICYAATI"l NOTE , 1973 t)e ar Sire We have examined into the validity of a $24,000 Bond Anticipation dots, 1973 of the Town. of Southold, in the County of Suffolk, State of New York, dated March 8, 1973, of the denomination of $24,000, numbered 1, bearing interest at the rate of three and one-eighth per centum (3 1/88) per annum, payable at maturity, and maturing .March 8, 1974. We have examiners the Constitution and statutes of the State of New York and certified copy of proceedings of the Turn Board of said Town and other proofs authori- zing and relating to the issuance of said note; also approved form of said note. In our opinion, said $24 ,000 Sone anticipation Note, 1973, has been authorized and issued in accordance with the Constitution and statutes of the State of New York and constitutes a valid and legally binding general ob- ligation of said Town of Southold, all this taxable real property within which is subject to than levy of ad valorem taxers to pay said notes and interest thereon, without limita- tion as to rate or amount. Very truly yours , at From: ALEXANDER T. GALLOWAY II Toi March 26 , 1973 Richard F. Lark, Esq. Wickham & Lark riatti tuck, New York 11952 Re : Town of Southold, Suffolk County Mattituck Park District $24 ,000 Bond Anticipation Note , 1973 our File 5819-G Dear Dick: Having just returned from vacation today, this is to acknowledge your telephone call of March 14 by which you advised us that this matter will be financed entirely by the issuance of bond anticipation notes over a period not to exceed five years . Since we have already rendered our approving opinion with respect to the first bond anticipation note, we are now taking the liberty of enclosing herewith our bill for services in connection with the issuance of such note. This bill also covers the services rendered with respect to the underlying proceedings . With best wishes , Very truly yours , ATG/rc Enc. March 26, 1973 TOWN OF SOUTHOLD, SUFFOLK COUNTY, NEW YORK FOR professional services rendered relating to: the preparation of a resolution entitled; "RESOLUTION DATED DECEIVER 13, 1972 . A RESOLUTION AUTHORIZING THE ACQUISITION OF CERTAIN REAL PROPERTY IPI AND FOR THE MATTITUCK PARK DISTRICT IN THE TOWN OF SOUTHOLD, SUFFOLK COUNTY, NEW YORK, AT A AVMMUM ESTIMATED COST, INCLUDING INCIDENTAL EXPENSES, OF $24 ,004." , and the issuance of a bond anticipation note in the principal amount of $24 ,000 , numbered 1, dated March 8, 1973, and final opinion approving the legality of said note (anticipated 5 year bond anticipation note financing) : $434. 0P J-q3qt OD � 3 A. T. Galloway II 26th March 73 5819-G Z -t t i 7.t, --------------- a .. ,. February 26, 1974 Richard F. Lark, Esq. Wickham i Lark Mattituck, New York 11952 Res Town of Southold, Suffolk County Mattituck Park District $180000 Bond Anticipation Note, 1974 (Renewal) - Our File 5819-G Dear Dicks In accordance with the telephone request from Mrs. Marylou Doroski of February 19, 1974, we enclose herewith forms of the following relating to the above mentioned renewal notes 1. Bond anticipation renewal note certificate of the Supervisor, with form of note attached. 2. Original renewal note. 3. Closing Certificate. 4. Arbitrage Certificate. Please be sure to complete paragraphs 2, 4 and 5 on the enclosed Arbitrage Certificate. In due course, please furnish us with executed counterparts of each of items 1, 3 and 4 listed above, which will enable us to release our approving opinion. With best wishes, Sincerely yours, ATGscc A. T. Galloway II Encls. I 5819-G BOND ANTICIPATION RENEWAL NOTE CERTIFICATE DATED MARCH 8, 1974. CERTIFICATE OF THE SUPERVISOR OF THE TOWN OF SOUTHOLD, SUFFOLK C©UpTY, NEW YORK, AUTHORIZING THE ISSUANCE OF AN $18,000 BOND ANTICIPATION RENEWAL NOTE OF SAID TOWN TO PAY PART OF THE COST OF THE ACQUISITION OF CERTAIN REAL PROPERTY IN AND FOR THE MATTITUCK PARK DISTRICT IN SAID TOWN. I, the undersigned Supervisor of the Town of Southold, Suffolk County, New York, DO HEREBY CERTIFYS 1. Pursuant to a bond resolution dated January 23, 1973, duly adopted by the Town Board of said Torn on said date, authorising the issuance of $24,000 serial bonds of said Town to pay the cost of the acquisition .of certain real property in and for the Mattituck Park District, including incidental expenses, which is an assessable improvement, and delegating to me, as chief fiscal officer, power to authorize the issuance of and to sell bond anticipation notes, including renewals there- of, in anticipation of the issuance and sale of said bonds, which power is in full force and effect, and has not been modified, amended or revoked, I HERESY AUTHORIZE the issuance of a bond anticipation renewal note of said Town in the principal amount of $18,000 in anticipation of the sale of said bonds. Said renewal note shall be dated March Or 1974, shall be numbered l-R, shall be of the denomination of $18,000, shall bear interest at the rate of , per centum, ( t) , per annum, payable at maturity, shall mature on March 7, 1975, and both principal of and interest on said note shall be payable in lawful money of the United States of America at , in , New York. Such note is a renewal note. 2. The specific object or purpose for which said note is hereby authorized to be issued is to pay part of the cost of the aforesaid specific object or purpose. The amount of serial bonds to be issued for such specific object or purpose is $18,000. 3. The note herein authorized is issued for the purpose of renewing, in part, the outstanding $24,000 Bond Anticipation Note, 1973, numbered 1, dated March 8, 1973, and maturing March 8, 1974, which is the only bond anticipation note now outstanding in anticipation of the sale of said bonds. ..a_ Y The balance of said outstanding note, in the amount of $6,000 will be paid from available current funds appropriated therefor. The date of the first bond anticipation note issued in anticipation of the sale of said bonds was March 8, 1973. 4. Such renewal note shall be executed in the name of said Town of Southold, New York, by its Supervisor, sealed with its corporate seal, attested by its Town Clerk, and the same shall be in substantially the form attached hereto. Such note is hereby sold at private sale to ► in , w York, at a price of not less than par and accrued interest► if any. To the best of my knowledge and belief, no officer or employee of said Town has an interest in the sale of said note prohibited by Article 18 of the General Municipal Law, as amended. Dated: Southold, New York, March Be 1974. Supervisor An executed counterpart of the foregoing certificate with form of note attached was filed with the Town Board of said Town of Southold, New York, this 8th day of March, 1974. Town CUR S E A L ) y' cot"" o20M or rsr yur BO MUS? AVTICVATZON Vii , 1014 (=its) 1 A U voot �S Of old, I» tk► Comaty of SUttolk, • avaitipaU ty XIGWIM twom"D DOLZAiit 0180000) 7th i o TS 18,000 Jaams" 23* 1073o ON Mll Ilry4m 01P va int rsxnsoj t or l'tB Tom or io' i , iPTP cCums no Ym, mmmAxtl tttUAN" c' AN $is,Ott MUD ANTtC lA' i i" M2 ce "to TOWN TO PAX PAW or T" COST or 110 ACWMZ'ltUN Or CAMAIM iiiiU PiiC+PZXfT X AND Pit 188 MSTITVM PARA OSST = "ZO "W. PtA swurob 74 town cw SMWIODS tape tTT* mw Yi Won or fo few or SOVIS+ AWICZPATICO Xmas ilia ts�.� 1-fit fad 94 174 Xwok 7* 1975 t aw laws of Somt: a ld$ suff p k comtro r left ft" AAtteLP&t A" NOU, JS74 (ft"v*l) 1Rt � xxx N&SVb 74 1 0414 *start" t ab T. ISM TOM Clef ARBITRAuL Li'\'.11 •iCA` E BOND ANTICIPATION RENEWAL NOTES S$19-ti IFI the undersigned , DO ERF CERTIFY that I am an offs ged, with others, with the responsibility for issuing the $1 ntioipatJ on. mats, 1�(BanMa3.) (the Note s )and that. on the basis of the facts, estimates an circumstances now in existence and her6in set forth, it is not expected that the Note (s) will constitute "arbitrage bonds" within the meaning of Section 103 (d) of the Internal Revenue Code of 1954 and the applicable Regulations prescribed by the Secretary of the Treasury promulgated there- under (hereinafter collectively called the "Code") . In issuing this certification, I have relied on the following facts , estimates and circumstances : 1. The Note (s) will be issued on 197 for the purpose of renewing (in part) a prior i bond anticipation (renewal) notes maturing on , 197 The Note (s) is/are issued in anticipation o t e ce serial Fids duly autlM71VM?C_J.zed for a governmental purpose, to wit, ( ure on _ 7 , -197 at which time they will be renewed by a subsequent issue of bond anticipation renewal notes , or serial bonds will be issued to provide the long-term financing of the Project or the Note (s) or a part thereof will be paid from a source other than the proceeds . of such bonds or notes. 2. A substantial binding obligation in the form of i was entered into on wws w war� 3. The principal amount of this issue of Note (s) , together with the principal amounts of all other notes issued for the Project, is $2 400 Under present estimates , the maximum estimated cost of the Project Vill be $ 24_000 . For purposes of this certificate, the term "maximum estimated cost" means the total project cost reduced by any amount to be expended on the Project from sources other than bonds or notes . 4. per cent of the "spendable proceeds" (as defined in the Code) of the Note (s) have been expended or will be ex- pended within the three-year period which began on the date of issue of the first issue of bond anticipation notes of which the Note (s) is/are a re- newal. 5. The Project (is completed) (is expected to proceed with due diligence to completion) . To the best of my knowledge and belief, there are no other facts , estimates or circumstances which would materially change the expectations set forth in this certificate. This certificate is executed as of the date of issue of the Note (s) (i.e. , the date of delivery of the Note (s) in exchange for the issue price) . IN WITNESS WHEREOF, I have hereunto set my hand and the seal of said TMM of 8gMU 1d this 8th day of March . , 197 supervisor (S E A L) LAW OFFICES WICKHAM & LARK,P. c. WILLIAM WICKHAM MATTITUCK,LONG ISLAND RICHARD F.LARK NEW YORK 119SZ 516-298-8353 March 11 , 1974 Sykes , Galloway & Dikeman ' Attorneys and Counsellors at Law jyjK i1; 120 Broadway New York, New York 10005 ATT : A. Thompson Galloway , II Sykes, Iallowky RE : Town of Southold, Suffolk County Mattituck Park District $18 ,000 Bond Anticipation Note, 1974 (Renewal) - Your File 5819-G Dear Tom: In connection with the above captioned matter, I am enclosing the following : 1 . Fully executed Bond Anticipation Renewal Note Certificate with form of Note attached . 2 . Fully executed Closing Certificate . 3. Fully executed Arbitrage Certificate . Please send us an original and two copies of your approving opinion. Very truly yours , chard : 'Lark RFL/mlf Enclosures March 12 , 1974 Richard F. Lark, Esq. , Wickham &. Lark, P.C. Mattituck, Long Island, New York 11952 Re: Town of Southold, New York $18,000 Bond Anticipation Note, 1974 (Renewal) Acquisition of Certain Real Property Our File 5819-G Dear Dick: This will acknowledge receipt of your letter- dated March 11, 1974, together with enclosures which are in proper form. We are enclosing herewith signed copies of our final approving opinion, together with our bill for services rendered, which we kindly request you to present for audit and payment. With best wishes, Sincerely yours, A. Thompson Galloway 11 ATG:sdb Enc. r March 12, 1974 Town of Southold, County of Suffolk, Mata of Now York TOWN OF SOU'1 HOLb o SUFFOLK (--().)`NTC, NE14 You $1S,000 BOND ANTICIPATION NMR, 1974 (R OWL) Dear Sirs: We have examined into the validity of an $19,000 Soead Anticipation Note, 1974 (Renewal) , of tho Town of Southold, in the County of suffol)t, Stata of New York, datod March 8, 1974, of the denorni nation of 519,000p nurl) Bred 1-R, bearing interest at the rate of four and nineteen hundz*dtho per contum (4.19%) per annum, payable at Maturity, and maturing March 7, 1975. We have examined the Constitution and statutes of the State of New York and certified copy of proceedings of the Town Board of said Town and other proofs authorizing and 3re-` lating to the issuance of said notal also appmvsd farm of -said nota. In our opinion, said $18,000 note has been authorised amt issued in accordance with the Constitution and statutes of -tb* Stats of Now York and constitutes a valid and legally bl db" general obligation of said Town, all the taxal.11e real propel* within which is subject to the levy of ad valorem taxes to pay said note and interest theroon, without limitation ar to r rate or amount. Very truly yours, SD8 March 12, 1974 TOWN or SOUTPOLD, St rrOLK COUTITY, NEW YORK FOR professional services rendered relating to the issuance of an $18 ,0300 r,ond Antieination Note, 1974 (Renewal) , of the Town of Fouthold, Suffolk County, NPw York, dated *larch 8, 1974, numbered 1-T7, and final opinion approving the legality of said note: S35.A0 FOR investigation and preparation of Arbitrage Certificate: 10.x30 Total : fi45.if) A. 10. Gallowav II 12th march 74 5819--G July 150 1974 Richard F. Larks Bsq. Rickham & Lark, F.C. Mattituck, Now York 11952 Rs: Town of Southold, New York $18,000 Bond Anticipation Note, 1974 (Renewal) Acquisition of Certain Meal Property Our File 5819-G Dear Dick: Our accountants in making an audit have called our attention to the fact that according to our firm's record a bili in the amount of $45.00, dated March 12, 1974, relating to the above, is unpaid. Will you please ascertain whether this bill was paid and if so advise the date of payment. If it has not boon paid, will you please arrange to have it done so as soon as possible. With best wishes. Very truly yours, SYKES, GALLOWAY f DIRE MAN BY away, 11 LAW OFFICES WICKHAM & LARK,P.C. WILLIAM WICKHAM MATTITUCK, LONG ISLAND f 13 RICHARD F.LARKJ- ( i' NEW YORK 11952 �,.o✓ 13.9 + a I. ,,gyy 1 516-298-8353 6 JAN January 28, 1975 Sykes , Galloway & Dikeman 120 Broadway New York, New York 10005 ATT: A. T. Galloway II RE: Town of Southold, New York--Bond Anticipation Note Your File 5819-G Renewal - $18 ,000 Dear Tom: The above-mentioned Bond Anticipation Note is due on March 7 , 1975 and the Mattituck Park District has informed me that they intend to pay off $4,000 .00 and ask for bids on a renewal note in the amount of $14 ,000. 00 for one year. Therefore, would you please prepare the bond.'anticipation renewal note certificate, renewal note, closing certificate, arbitrage certificate and any other necessary documents and for- ward same to me so that we can have a closing on March 7 , 1975. On March 8 , 1975, I will send you executed copies of the renewal note certificate, closing certificate and arbitrage certificate and ask that you forward your approving opinion with your bill for services rendered. Very truly yours,,; P,�i�chard F. Lark RFL/mlf February 4, 1975 Richard F. Lark, Esq. Wickham & Lark, P.C. Mattituck, Long Island, New York 11952 Re: Town of Southold, Suffolk County $14,000 Bond Anticipation Note, 1975 (Renewal) - Our File 5819-C, Dear Dick: Thank you for your letter of January 28th, received January 29th. In accordance with your request, we enclose herewith the following: 1) Bond anticipation renewal note certificate, with form of note attached. 2) Original renewal note. 3) Closing Certificate. 4) Arbitrage Certificate. Please make sure that all blanks are filled in on the Arbitrage Certificate and that, where appropriate, inappli- cable parenthetical language is "x'd" out. In due course, please see that we are furnished with an executed counterpart of each of items 1, 3 and 4 listed above, which will enable us to issue our approving opinion. With best wishes, Very truly yours, ATG:cc A. Thompson Galloway II g Encls. 8819-f3 BOND ANTICIPATION RBNENAL NOTE CERTIFICATE DATED MARCH 7, 1975. CERTIFICATE OF THE SUPERVISOR OF THE TOWN OF SOUTHOLD, SUFFOLK COUNTY, NEW YORK, AUTHORIZING THE ISSUANCE OF A $14,000 BOND ANTICIPATION RENEWAL NOTE OF SAID TOWN TO PAY PART OF THE COST OF THE ACQUISITION OF CERTAIN REAL PROPERTY IN AND FOR THE MATTITUCK PARK DISTRICT IN SAID TOWN. I, the undersigned Supervisor of the Town Southold, Suffolk County, New York, DO HEREBY CERTIFY: 1. Pursuant to a bond resolution dated January 23, 1973s, duly adopted by the Town Board of said Town on said date, authorising the issuance of $24,000 serial bonds of said Town to pay the cost of the acquisition of certain real property in and for the Mattituck Park District, including incidental expenses, which is an assessable im- provement, and delegating to nae, as chief fiscal officer, power to authorize the issuance of and to sell bond anticipation notes, in- cluding renewals thereof, in anticipation of the issuance and sale of said bonds, which power is in full force and effect, and has not been modified, amended or revoked, I HEREBY AUTHORIZE the issuance of a bond anticipation renewal note of said Town in the principal amount of $14,000 in anticipation of the sale of said bonds. Said renewal note shall be dated March 7, 1975, shall be numbered 2-R, shall be of the denomination of $14,000, shall bear interest at the rate of per centum ( 0) per annum, payable at maturity, shall mature on March 5, 1976, and both principal of amd interest on said note shall be payable in lawful money of the united States of America at , in , New York. Such note is a renewal note. 2. The specific object or purpose for which said note is hereby authorized to be issued is to renew, in part, the outstaadiac $18,000 Bond Anticipation Note, 1974 (Renewal) , numbered 1-R, dated March 8, 1974 and maturing March 7, 1975. The balance of said bo", in the amount of $4,000 will be paid from a source other than the -2- proceeds of bonds or bond anticipation notes and such amount shall constitute the second installment of the principal amount of such indebtedness. The amount of serial bonds now to be issued therefor . is $14,000. 3. No other bond anticipation notes are presently outstandinq in anticipation of the sale of said bonds. The date of the first bond anticipation note issued in anticipation of the sale of said bonds was March 8, 1973. 4. Such renewal note shall be executed in the name of said Town of Southold, New York, by its Supervisor, sealed with its corporate seal, attested by its Town Clerk, and the same shall be in substantially the form attached hereto. Such note is hereby sold at private sale to , in New York, at a price of not less than par and accrued interest, if any. To the best of my knowledge and belief, no officer or employee of said Town has an interest in the sale of said note prohibited by Article '18 of the General Municipal Law, as amended. Dated: Southold, New York, March 7, 1975. Supervisor An executed counterpart of the foregoing certificate, with former► of note attached, was filed with the Town Board of said Town OfL Southold, New York, this 7th day of March, 1975. Town Clerk 8 9 A L ) coom O" l;�l; logo O' BOMOLD lOWD AMl7C3t"tow lam, 1973 (am") r Two of +Iftbold, in tho Comte of so!lolft, a s��.oipallt? wl"Aralmy "=sun COLURS ($140000) Sth 76 1R 1#,Oa4 on Jaaoasr 23, 19730 and agent to l *am AMCXPATXOK FAMSW" OM CX" rtcmm .OM WJWKsou"���*7!�, 1975. �rr��RMry� Ii CUTS OF "M SUPR1kMM, um YOFX* ����ar+E�AA+ Or "M+�'1�! 4W Or A $14,000 3M ltMCIPATION i" XOTX Or tl%* M " PAT PAW OV '.!'lam Cts 4! TEE ACMSZTXCN OF Cl ll AZA 74" PSOVZ lT 10 AND l" "M ZTVCPMW Gillis` IM IN SAID "W." 7" "am* 73 TOM or floum►l.DI SMOU Ct3MW* wr Tt I+ ' ' `Ark tea# Tmm Of o ho1d, Suf folk County r 14#040 Ocad Anticipation Net*, 1073 �� ►r�� 14'r000 xxx March a y3 NuaborA 2-9 and naturinq *r^ch 3. 1976, 14,400.00 9th Sarah 73 u rvia+r 12/31/45 Tava Clsrk 13/31/73 RENEWAL NOTE'S, 5819-rz, III 1(ic r,.;i(j.-le". Supervisor DO IIE'RE-31Y C::.';21F,11, that 1 am an orl:iccr of the Town of Southold, A-Lfolk County, �a c', -rqea, t.,a others, with the, responsibility for issuing the I S14 , 000 Bond Anticipation '.rote, 1975 (Penewal) (the .,::cue (3) " ) an'ci tnat on L-asis of the facts , 0_S__E_1mat.e:� and - cir_=-S�_-ances no,..: in exl_c:ter.-_-c and herein set forth, it is not expected that t­.e ',-*otc (s) will constiLute "arbitrage' bonds" within the meaning of Sec t- _03 (d) of t,'-e 1-1 t erna I Revenue bode of 195n and the at)olicable Rogula-­ prescribe- bv Secretary of the Treasury promulgated there- under z-,re ii n a f t e r c0e c i ve 1 y called the "Code") . issuing this c reification , I have relied on the following facts, es and c -a7 est� ircums - cas : 1 --he Note (s) be issued on March 7. 1 197 5 for the of renewing (in part) a prior issue of bond anticipa-Eion. notes mat-uri-g on March 7 1 197 5 . The Note (s) issued ill anticipation of- the issuance of serial So—nds duly authorize%d' for a governentalpurpose, to wit, to pay pa[rt of the cost of the acquisition of certain real property in and for the mattltuCr. Park 2,istrict in saiO. Torn (the "Project") . The Not_e(s) will mature on 11-larcH 5 -197 6 at which tiime they will be renev.-ed by a subsequent issue of ' bond anticipation rene,-jal notes, or serial bonds will be issued to provide the long-term `Hnanc_in; of the Project or 'L--.he Note (s) or a part thereof will be paid from a source other than the -oroceeds. of such bonds or notes. 2 . A substantial binding obligation in the form Of a contract was entered into on January 24 ,principal ar-,ou--it of 19T3- this issue of Note (s) ' together -with the L. principal amounts of all other notes issued for the Project , is $ 241000 Under oresent- estimates , the miaximum estimated cost of the Project will be $ 24,000 . For purposes of this certificate, the term "maxi:-.= eastimated cost" means the total project cost reduced by any amount t-o be e.­:-cended on the Project from sources other than bonds or notes. per cent of the- "spendable proceeds" (as -de-fin--rd in -,-.he Code) of the Note (s) have been expended or will be ex- penCed %-;ithin the three-year period which began on the date of issue of the frirst. -issue of bond anticipation notes of which the Note (s) is/area re- n.ev.,a 5. '1.1lo Project (is cor,-.-pleted) (is 'expected to proceed- with due di-ligen-ce to completion) . o t'o:e best of m%r and belief, there are no other facts esti-:a es or circumistances which would materially change the expectations. set fort*-- in this certificate. certificate is executed as of the date of issue of the Note (s) e dace o deli cry of the Note (s) in exchange for the issue price) .' . N W­7','ESS ha-.,e hereunto set my hand and the seal of said this 7th day of March 197 Supervisor (S E A. L) LAW OFFICES WICKHAM & LARK,P. C. WILLIAM WICKHAM MATTITUCK,LONG ISLAND RICHARD F.LARK NEW YORK 11952 516-298-8353 March 7 , 1975 MAR 1019175 Sykes , Galloway & Dikeman Sykes, Galloway & Qikmn Attorneys and Counsellors at Law 120 Broadway New York, New York 10005 ATT: A. Thompsnn Galloway, II RE : Town of Southold, Suffolk County $14,000 Bond Anticipation Note, 1975 (Renewal) -- Your File 5819-G Dear Tom: In connection with the above-captioned matter, I am en- closing the following: 1. Fully executed Bond Anticipation Renewal Note Certificate with form of Note attached. 2 . Fully executed Closing Certificate. 3. Fully executed Arbitrage Certificate. Please send us an original and two copies of your approving opinion together with your bill for services rendered. Very truly yours , $Wlc and F. L k RFL/ml f Enclosures ti. jj 4. March 12 , 1975 Richard F. Lark , Esq. Wickham & Lark , F.C. Mattituck , New York 11952 Re: Town of Southold, Suffolk County $19 ,044 Bond Anticipation Note , 1975 (Renewal) Our File 5819-G Dear Dick: Thank you for your letter of March 7 with enclosures , received March 10 , which are in proper order. We enclose herewith signed copies of our approving opinion ; together with our bill for services , which we request you to present for audit and payment. With best wishes, Very truly yours , A. Thompson Galloway II ATG:jd Encls . v March 12, 1975 Town of Southold, County of Suffolk State of New York TOWN OF SOUTHOLD, SUFFOLK COUNTY, NEW YORK $14,000 BOND ANTICIPATION NOTE , 1975 (RENEWAL) Dear Sirs We have examined into the validity of a $14,000 Bond Anticipation Note, 1975 (Renewal) , of the Town of Southold, in the County of Suffolk, State of Now York, dated March 7, 1975, of the denomination of $14,000 , numbered 2-1, bearing interest at the rate of four and ninety-wine hundredths per centum (4.99!) per annum, payable at maturity, and maturing March S. 1976 . We have examined the Constitution and statutes of the State of New York and certified copy of proceedings of the Town Board of said Town and other proofs authorising and relating to the issuance of said note; also approved form of said note. In our opinion, said $14 ,000 Bond Anticipation Note, 1973 (Renewal) , has been authorised and issued in accordance with the Constitution and statutes of the State of New yorrk and constitutes a valid and legally binding general obligation Of said Town all the taxable real property within which is subject to the levy of ad valorem taxes to pay said note and interest thereon, without limitation as to rate or asomt. Very truly your*, jd ti March 12 , 1975 TOWN OF SOUTHOLD, SUFFOLK COUNTY, NEW YORK FOR professional services rendered relating to the issuance of a $14,004 Bond Anticipation Note► 1925 (Renewal) ► of the Town of Southold, Suffolk County, New York, dated March 7, 1975 , numbered 2-R, and final opinion approving the legality of said note: $35.00 For arbitrage investigation and preparation of arbitrage certificate: 10.00 TOTALt $45.00 A. T. Galloway II 12th March 75 LAW OFFICES WICKHAM & LARK,a.C. WILLIAM WICKHAM MATTITUCK,LONG ISLAND RICHARD F.LARK NEW YORK 11952 516-298-8353 January 27,1976 Willkie, Farr & Gallagher 120 Broadway New York, New York 10005 ATT: A. Thompson Galloway II RE: Town of Southold, New York - Bond Anticipation Note - Renewal $14, 000 -- .Your File 5819-G Dear Tom: The above-mentioned Bond Anticipation Note is due on March 5, 1976 and the Mattituck Park District has informed me that they intend to pay off $4, 000 .00 and ask for bids for a renewal note in the amount of $10, 000 . 00 for one year. Therefore, would you please prepare the bond anticipation renewal note certificate, renewal note, closing certificate, arbi- trage certificate and any other necessary documents and forward same to me so that we can have a closing on March 5, 1976, Following the closing, I will send you executed copies of the renewal note certificate, closing certificate and arbitrage certifi- cate and ask that you forward your approving opinion with your bill for services rendered. Very truly yours,,'7 "Richard Lark RFL/mlf January 29, 1976 Richard F. Lark, Esq. Wickhau 6 Lark, P.G. Mattituck, New York 11952 Res Town of Southold, Suffolk County $10,000 Bond Anticipation Note, 1976 (Renewal) -- our File 5819-0 Dear Dick: Thank you for your letter dated January 27, 1976. In accordance with your request, we are enclosing herewith forms of the following relating to the above mentioned renewal note: 1) gond anticipation renewal note certificate, with form of note attached. 2) original renewal note. 3) Closing Certificate. 4) Arbitrage Certificate. in due course, please see that we are furnished with an executed counterpart of each of items 1, 3 and 4 listed above, which will enable us to release our approving opinion. With best wishes, Very truly yours, ATG:cc A. Thompson Galloway ii Encls. " 5819-G BOND ANTICIPATION RENEWAL NOTE CERTIFICATE DATED MARCH' , 197 stJo� CERTIFICA OF THE SUPERVISOR OF THE TOWN OF SOUTHOLD, SUFFOLK OUNTY, NEW,YORK, AUTHORIZING THE ISSUANCE OF A $ , BOND ANTICIPATION RENEWAL NOTE OF SAID TOWN TO PAY PART OF THE COST OF THE ACQUISITION OF CERTAIN REAL PROPERTY IN AND FOR THE MATTITUCK PARR DISTRICT IN SAID TOWN. I, the undersigned Supervisor of the 'Down of Southold, Suffolk County, New York, DO HEREBY CERTIFY: 1. Pursuant to a bond resolution dated January 23, 1973, duly adopted by'. the Town Board of said Town on said date, authorizing the issuance of $24,000 serial bonds of said-Town to pay the cost of the acquisition of certian real property in and for the Mattituck Park District, including incidental expenses, which is an assessable improve- ment, and delegating to me, as chief fiscal officer, power to authorize the issuance of and to sell bond anticipation notes, including renewals thereof, in anticipation of . the issuance and sale of said bonds, which power is in full force and effect, and has not beenos6di dod#mandededror revoked, I HEREBY AUTHORIZE the issuance of a bond anticipation renewal note of said Town in the principal amount of $k8';000 in anticipation of T the sale of said bonds. Said renewal note shall be dated March _�," 1978y shall be numbered �R, shall be of the denomination of $14,000, shall bear interest at the rate of per centum ( ? per annum, payable at maturity, shall mature on March 4-0, 1977-, and both principal of and interest on said note shall be payable in lawful money of the United States of America at in , New York. Such note is a renewal note. 2. The specific object or purpose for which said note is hereby U_ authorized to be issued is to renew, in part, the outstanding $a,1000 G I 6 Bond Anticipation Note, 1975 (Renewal) , dated March rT, 197;y, numbered -R, and maturing Marchi; 1976'. The balance of said outstanding note, in the amount of $,*,000 will be paid from a source other than the proceeds of9nds or bond anticipation notes and such amount shall constitute the Wdinstallment of the principal amount of such indebtedness. The _2_ amount of serial bonds now to be issued therefor is $ 8;000. 3. No other bond anticipation notes are presently outstanding in anticipation of the sale of said bonds. The date of the first bond anticipation note issued in anticipation of the sale of said bonds was [arch at 1973. 4. Such renewal note shall be executed in the name of said Town, of Southold, New York, . by its Supervisor, sealed with its corporate seal, attested by its Town Clerk, and the same shall be in substantially the form attached hereto. Such note is hereby sold at private sale to in , New York, at a price of not less than par and accrued interest, if any. To the best of my knowledgw and belief, no officer or employee of said Town has an interest in the sale of said note prohibited by Article 18 of the General Municipal Lae►, as amended. Dated: Southold, New York, 77 w March , 1971 . Supery nor An executed counterpart of the foregoing certificate, with form of note attached, was filed with the Town Board of said Town of Southold, New York, this ,8`th day of March, 197,6`. ownclery t 9 E A L k i COUNTY OF 8VFrOL3C TOM Or 000MLD A AmcipAnco Nom"N,, 157f (F"NPNAL) J '0 Town of Soot hold, iw► the Ctmty of Suffolk, a hro�i.oipality Jv� am' TUMUM VOLLAW ($klfr000) +alc 7f r La lk wr YOX*• S� on January 33, 1973, and pvwsvmat to: *BOND ANTICIPATION REMMAL NMX CRATIr2CATS DATED HAWK 19T . CNRTIrXCA'TN Or TOE SUPBXVIBOR Or THE TOWN or SoUr"a,p MMU COOM r MW 'YORX� AWMRI E ING TNN ISSUANCE 4r A 0#*000 BOND ANTICIPATION RMMW" NMR Qr SAID TOM TO PAX PRAT +E TU COOT Or TIM ACOUISITION Or CNVTA2N W-n PNUPZRTV IN AND 7 THR HRTTITt PARK DIVMICT IN SAID ?OW*Q h March 7r TOW OV SOVMLD,r 8t1I'!'CILIC COMITY, NNN TORK by .._... supor" er - TOW ix, Tcnm of 3outh*14# 14of folk CauntY r4*w Yost* road A'aticipation t. oto, 197 Oenowal) and oiaturlaq 4orch 77 Town I-Iork L��l;IJ ANI'1'1.C.(PATI G i t?i,,-!Et• AL I.OTE_> 5819-G 7 , Lhe III*Id r:�ignc�d Sup®rvisor DO 1ti tlt:i3' C1:!?'i'! t Y that l am an officer-of the Town of southo , iJer� York, larged w.tth othothers, ��it}1 the reeponsiba lily for issuing the - xtsa,rwr,.7 1 Mlle i�Ote ) �lI1d that Oil the a ;jS OJ: t:t1e faCl:S , e�tlllclteS c�llCe circumstances riot•: in existence - and herein set forth, it is not expected thz►t the 1'!Otc� (s) will coJlstituLO "arbitrage- bonds" within the meaning of Section 103 (d) of the Internal Revenue Code of 1954 and the applicable Regulations prescribed by the Secretary- of the Treasury promulgated there-- under (hereinafter collectively called the "Code") . - In issuing this certification, I have relied on the following facts , estimates and circtmistances : 1. Tile Note (s) ',,ill be issued on -197 for t11L' purpose of renewing ' g (i_n part) a prior Issue nd anticipa ton (rene".oal } no tes maturi.ng on Mich 11977 _ The Note (s) is/areissued in anticipation of the TEsu'aTlceof---r ial bonds duly authorized for a governmental purpose, to wit, to Pa.certain in .-,s.ra of th.. of • $t Park District in said Town (the "Project" ) . The Note (s) will mature on at •l97_ which time they will be rcnetied by a subsequent is ue o bond anticipation ronet•;al notes , or serial bonds .:ill be issued to provide the long-term financing of the Project or the Notes) or a part thereof .will be paid from a source other than the proceeds. of such bonds or notes. 2. .A substantial binding obligation in the form of contract was entered into on 3. .The principal amount of this issue of Notes) Itogether -with the principal amounts of all other notes issued for the Project, is $ [Under present estimates, the maximurti estimated cost of the Project 731 be $ 24,000 For purposes of this certificate, the term maximum estirlated cost" means the t6tal project cost reduced by any J aunt to be expended on the Project frons sources other than bonds or notes. 4 . 1001 per cent of the "spendable proceeds" (as •defirlo-d in the (fode) of the Note (s) have b-:-,^n Cx ended XX9ff&XJ within the three-year period which began on the dateK 1�1#Xk*oRft-Ce first issue of bond anticipation notes of which the Notes) is/are a re- ner:al. - - - . • 5. The Project. (is completed) To the best of my knowledge and belief, there are no other facts , estimates or circu;iistances which would materially change the expectations set forth in this certificate. This certificate is executed as of the date of issue of the Note (s) (i . e. , the date 'of delivery of the Note (s) in exchange for the a slue price) '. - 114 rice) '. -114 I•,I` NESS t%;HEREOr, I have hereunto set my hand and the seal of said 197 mthis t day of „.��. ( S E A 'L ) Supervisor - LAW OFFICES WICKHAM & LARK,P. c. WILLIAM WICKHAM MATTITUCK,LONG ISLAND RICHARD F.LARK NEW YORK 11952 516-298-6353 March 9, 1976 Willkie, Farr & Gallagher 120 Broadway New York, New York 10005 RE: Town of Southold, Suffolk County $10, 000 Bond Anticipation Note, 1976 (Renewal) -- Your File 5819-G ATT: A. Thompson Galloway II Dear Tom: In connection with the above-captioned matter, I am enclosing the following: 1. Fully executed Bond Anticipation Renewal Note Certificate with form of Note attached, dated March 5, 1976. 2. Fully executed Closing Certificate. 3. Fully executed Arbitrage Certificate. If all is in order, please send us an original and two copies of your approving opinion together with your bill for services rendered. Very truly yours, F,. iichard F. ark RFL/m 1 f Enclosures March 11, 1976 Richard F. Lark, Esq. Wickham & Lark, P.C. Mattituck, New York 11952 Re: Town of Southold, Suffolk County $10,000 Bond Anticipation 'Note, 1976 (Renewal) - Our File 5819-G Dear Dick: Thank you for your, letter dated March 9 , 1976 with enclosures relating to the above mentioned renewal note, which are in proper form. we are enclosing herewith signed copies of our final approving opinion, together with our bill for services rendered relating thereto, which we kindly request you to present for audit and payment. With best wishes, Very truly yours, ATG:cc A. Thompson Galloway II Encls. Marsh ll, 19 '6 TOM OF SOUMLD j, SMOLK COUMi, MW YM Fdtl+rssi0,nal w ervims `rm4*r*d relating to :that 1� of a $lA,000 load Asticipat4on Not*# 19ft—Aa+wal) , of tho ?Own of Southold, BatiMa lh I county e ftv:York 0 dataid MiL'db S't 1976* F+rrd 3--�t, d "°f 1 apinian apprOq l r lagality of said not's I $ . FOR arhitraq Invostigat4an and prepa +ation .of asbitra" certificates A. Callow y 11th March 76 March 11, 1976 Town of Southold, County of Suffolk, State of New York TOWN OF SOUTHOLD, SUFFOLK COUNTY, N.W YORK $10,000 BOND }N'ZCZPATION NCS, 1976 ( ZWAL) Dear Sirsx We have examined into the validity of a $10,000 Hand Anticipation Mote, 1976 ( ental) , of the Town of Southold, in the County of Suffolk, State of Now York, datod March 5, 3976, numbered 3-R, of the denomination of $10,000, bearing interest at the rates of #even and ninety hundredths per centum (7.901k) per annum, payable at maturity, and maturing search 4, 1977. We have examined the Constitution and statutes of the state of New York and certified copy of proceedings of the Town Board of said Town and other proofs authorising and relating to the Issuance of said note; also approved farm of said note. Zn our opinion, said $10,000 note has been authorixeed and issued in accordance with the Constitution and statut+ee$ of the State of 114w Fork and constitutes a valid and legally binding general obligation of said own, all the twmble real property within which is subject to the levy of ad valorem taxes to pay said note and interest thoreon, without limitation as to ,rate or amount. very truly yours, cc February 23, 1977 Richard F. Lark, Esq. P. O. Box 973 Main Road Cutchogue, New York 11935 Res Town of Southold, Suffolk County, New York $6,000 Bond anticipation Note, 1977 (Renewal) Our Files 5819-G Dear Dicks In connection with a telephone request from your office on February 10th, we are enclosing herewith forms of the following relating to the above mentioned renewal notes 1) Bond anticipation renewal note certificate$ with form of note attached: 2) Original renewal note; 3) Closing certificate; and 4) Arbitrage certificate. After the note has been delivered to and paid for by the purchaser on March 4th, please furnish us with an executed counterpart of each of the enclosures, with the exception of the original note, which will enable us to issue our approving , opinion with respect to such note. With best wishes, Very truly yours, A. Thompson Galloway IT ATG/gs encls, 5819-t BOND ANTICIPATION RBWWAL NOTE CERTIFICATE DATED MARCH 4, 1977. CERTIFICATE OF THE SUPERVISOR of T". T(M OF SOUTRaLD, SUFFOLK COUNTY, NEW YORX* AUTHORIZING THE ISSUANCE OF A $6,000 150ND ANTICIPATION RRNML NOTE AF SAID TOW TO PAT PART OF THE COST OF THE ACQUISITION OF CERTAIN REAL PROPERTY IN AN FOR THE MATTITUCK PARC DISTRICT IN SAID Tit. I, the undersigned Supervisor of the Town of Southold, Suffolk County, Now York, DO HEREBY CERTIFY: 1. Pursuant to a bond resolution dated January 230 1973, duly 7 adopted by the Town Hoard of said Town on said date, authorizing the issuance of $24,000 serial bonds of said Town to pay the cost of the acquisition of certain real property in and for the Mattituck Park District, including incidental expenses, which is an assessable improvement, and delegating to mee, as chief fiscal officer, power to authorise the issuance of and to 9e11 band anticipation notes„ including renewals thereof, in anticipation of the issuance and sale of said bonds, which power is in full force and effect, and has not been modified, amended or revokead, I RPREDY AUTHORIZE the issuance of a bond anticipation renewal note of said Fawn in the principal amount of $6,000 in anticipation of the sale of said bonds. Said note shall be dated march 48 1977, shall be nuWmrsd 4-R, shall be of the denomination of $6,000, shall bear interest at the rate of per eaentum ( #� per annung payable at maturity, shall mature an March 30, 1978, and both principal of and interest on said nate shall be payable in lawful money of the United States of America at itNowf York. Such note is a renewal rote. 2. The specific object or purpose for which said note is hereby authorised to be issued is to renes►, in part, the outstanding $10,000 Bond Anticipation Note, 1976 (Renewal) , dated March 5, 19760, neseebared 3-fit, and maturing March 4, 1977. The balance 6f said outstanding note, in the amount of $4,000 will be paid from a source 2 .. other than the procelidk�irjs of the bands or bond anticipation notes, and such amount shall constitute the fourth installment of the principal amount of such indebtedness. The amount of serial bonds now to be issued therefor is $6,p OOO. 3. No other bond anticipation notes are presently Outstanding in anticipation of the dale of said bands. The date of the first bond anticipation note issued in anticipation of the sale of said bonds was March S, 1973., 4. Such renewal note shall be executed in the name of said Town of Southold,, Now York, by its Supervisor, sealed with its ; orporate seal, attested by its Town Clerk, and the same shall be in substantially the form attached hereto. Such note is hereby sold net private sale to ........,,...,, + in , New York, at a price of not less than par and accrued interest, if any, To the best of my knowledge and belief, no officer or employee of said Torn has an interest in the sale of said note prohibited by Article 18 of the General Mun&di{ w,alM Lvw, as amended. mated t Southold, Now York, March 4, 1977. upery r An executed +ounterpart of the foregoing certificate, with form of note attached, was filed with the Town Hoard of said Town of Southold, New York, this 4th day of March, 1977, own er t$ SAby COUWTY or SUP vow* OF SOUTW)LO DOW ANT2CIPlRTZON fit * 1977 (9 L) That town of Southold,, in the rAmoty sof Suffolk, a six TUOUSAM ALU# (460000) Ird March 79 • 6#000 an Janus" 27# 19710, ?MAIM CH 4v 1977, IrOP TRX S ' 'JXSOR IIs` ".P, TMX CW A $4v**O S V AUTICUATIOU ntnrWt VOM or S;ktD TOWS To VXy AO TQA To "A "wx PARX atsmCT IN SAID ""'0 4th "Areh 7 '!"WU OF SC , f # SUMLS C SV OW 9 the Town of Southold, Suffolk County, Maio York 6#000 ftnd Anticipation Note, 1977 (Ren*wal) 60000 >ntz March 4 77 bluabersd 4-R end maturing Harch ), 1978. 60000,00 6,000.80 4th March 77 supervisor Town Clark A ARBITRAGE CERTIFICATE BOND ANTICIPATION RFNPWAL NOTFS I. the undersigned Supervisor of the Town of Southold, Suffolk County, New York, DO HEREBY CERTIFY: 1. On the basis of the facts, estimates and circumstances herein set forth it is expected that the $61000 Bond Anticipation Note, 1977 (Renewal) of said Town, dated March 4, 1977 and maturina March 3, 1978 ("Note") (as more fully described in a Bond ?anticipation Renewal Note Certificate of the undersigned Supervisor dated March 4, 1977 authorizing the issuance of said Note) will not constitute an "arbitrage bond" within the meaning of Section 103 (c) of the Internal Revenue Code of 1954, as amended, and the applicable Regulations promulgated thereunder. 2. The Note is sold at a price of par without premium and is issued to refund in part a prior $10,000 bond anticipation note ("Prior Note") . Said Prior Note will be retired on the date of issue of the Note, all of the proceeds of the Note being expended therefor. 3. Since all of the proceeds of the Prior Note have been expended for the governmental purposes for which said Prior Nate was issuedand all of the proceeds of the mote will be expended on the date of issue of the Note, none of the proceeds of the` Note will be available to hold or to acquire obligations after said date, To the best of my knowledge and belief, there are no .facts, estimates or circumstances which would materially change the ex- pectations set forth herein. IN WITNESS WHEREOF, I have hereunto set my hand anf? the seal of said Town of Southold, New York, this 4th day of March, 1977. Supervisor ( S E A L ) RICHARD F. LARK ATTORNEY AT LAW MAIN ROAD-P. O. BOX 973 CUTCHOGUE, NEW YORK 11935 TELEPHONE 516 734-6807 March 4, 1977 Willkie, Farr & Gallagher 120 Broadway New York, New York 10005 ATT: A. Thompson Galloway II RE: Town of Southold, Suffolk County, New York $6, 000 Bond Anticipation Note, 1977 (Renewal) . Your File: 5819-G Dear Tom: In connection with the above-captioned matter, I am enclosing the following: 1 . Bond anticipation renewal note certificate, with form of note attached. 2 . Closing certificate 3. Arbitrage certificate If all is in order, kindly send me your approving opinion and bill for services rendered. Very truly yours, Richard F,:_�Lark RFL/bd Enclosures March 9, 1977 Ricard F. Lark, Esq. Attorney at Law Main Road - P. O. Box 973 Cutchogue, New York 11935 Rea Town of Southold, New York $6,000 Bond Anticipation Note, 1977 (Renewal) Our Filet 5819-G Dear Dick: Thank you for your letter of March 4, 1977 with enclosures, which are in proper order. We are enclosing herewith signed copies of our approving opinion, together with our bill for services rendered which we request you to prevent for audit and payment, With best wishes, very truly yours, A. Thompson Galloway XX AOG/qs encls. w March 9, 1977 Town of Southold, County of Suffolk, State of New York TOWN OF SOUTHOLD* SUFFOLK COUNTY, NEN YORK $6,000 BOND ANTICZPATIONN NOTE, 1977 (RsHzvAL) Hear Sirs: We have examined into they validity of a $6,000 'Bond Anticipation Note, 1977 (Renewal) , of the Town of Southold, in the County of Suffolk, State of New York, dated March 4, 1977, of the denomination of $6,000, numbered 4-R, bearing interest at the rate of three and nine hundredths per centum (3.09%) per annume payable at maturity, and maturing March 3, 1978. we have examined the Constitution and statutes of the State of Now York and the Internal Revenue Code of 1954, as amended, including particularly Section 103(c) thereof, and the final, temporary and proposed regulations of the United States Treasury Depart thereunder. We also have examined a certified copy of proceedings of the Town Board of said Town and other proofs authorising and relating to the issuance of said note, including approved form of said note. In our opinion, said note has been authorised and Issued in accordance with the Constitution and statutes of the State of Now York and constitutes a valid and legally binding general obligation of said Town, all the taxable real property within which is subject to the levy of ad valorem taxes to pay said note and interest thereon, without limitation as to rate or amountl provided, however, that the enforceability (but not the validity) of said note may be limited by any applicable bankruptcy, insolvency or other law now existing or hereafter enacted by said State or the federal government affecting the enforcement of creditors' rights. Interest on said note is exempt under existing statutes and court decisions from Federal income takes, from New York State inose taxes, and from the New York City"personal income tax on residents" and "earnings tax on nonresidents". • �' Z Town of Southold March 9, 1977 The weeps of our eengageweent in relation to the issuance of said note has extended solely to the examination of the facts and law incident to rendering the opinions expressed herein. Accordingly, we have not examined, reviewed or Passed wean the accurao:y, completeness or fairness of MY factual information which may have been furnished to any purchaser of said note by or on behalf of said flown and we► exPress no Opinion as to whether said Town, in connection with the sal* of said note, has made any untrue stat0WAWt Of a material fact or emitted to stats a material fact necessary in order to make any stateemants made, in the light of the circumstances ander which they were made, not misleading. Very truly yours, 07OWN OF SOUTHOLDO SUFFOLK CGUNTY MARCH 9v 1977 NEW YORK � FOR professional services .rendered relating to the issuance of a $68000 Bond Anticipation Mote, 1977 (Renewal) , of the Town of Southold, in the County of Suffolk, New York, dated March 4, 1977, numbered 4-R. and final opinion approving the legality of said note' including arbitrage investigation and preparation of Arbitrage Certificates $45.00 5819-'G 815139000 A. Thompson Gallow0y 11 9th March 77 f At a Special meeting of the Board of Park Commissioners of the Mattituck Park District in the Town of Southold, Suffolk County, New York, held at Mattituck, in said Town, on the 13th day of December_ , 1972, at 4 :00 o 'elock P. .fit. , Eastern Standard Time. The meeting was called to order by Robert L. Bergen, Chairman and the roll being called, there were PRESENT Robert L. Bergen Francis J. Murphy Laurence P. Reeve ABSENT: NONE The following resolution was offered by Francis J . >wtu .ph who moved its adopthn, seconded by Laurence P. Reeve, to--wit RESOLUTION DATED December 13 197 2 A RESOLUTION AUTHORIZING THE ACQUISITION OF CERTAIN REAL PROPERTY IN AND FOR THE MATTITUCK PARK DISTRICT IN THE TOWN OF SOUTHOLD, SUFFOLK COUNTY, NEW YORK, AT A MAXIMUM ESTIMATED COST, INCLUDING INCIDENTAL EXPENSES, of $ 24,000 BE IT RESOLVED, by the Board of Park Commissioners of the Mattituck Park District in the Town of Southold, Suffolk County, New York, as follows: Section 1. Pursuant to the provisions of Section 3 of Chapter 924 of the Laws of 1941, as amended, the acquisition of the following described property for the Mattituck Park District in the Town of Southold, Suffolk County, New York, is hereby authorized at a maximum estimated cost, including incidental expenses, of $ 211 .(InO Said property is bounded and described as follows: ALL THAT CERTAIN PLOT, PIECE OR PARCEL OF LAND, situate, lying and being at Mattituck, in the Town of Southold, County of Suffolk, and State of New York, and bounded and described as follows: BEGINNING at a concrete monument set on the southerly line of Alain Road at the northwesterly corner of land of Mattituck School District ; running thence along said land of Mattituck School District , five courses, as follows : (1) South 35' 29 ' 00" East 184 . 00 feet to a concrete monument; thence (2) South 57' 26 ' 00" East 141.8 feet to a post ; thence (3) North 86;' 01 ' 00" East 105. 55 feet to a pipe; thence (4) North 72'-' 09 ' 00" East 69. 55 feet to a pipe; thence (5) South 81� 36 ' 00" East 120.4 feet to a pipe at the shore of Marratooka. Lake, thence southerly along, the shore of said Marratooka Lake about 245 feet to land of John Pylko; thence along said land of John Pylko, South 880 321 00" West about 500 feet to land conveyed or about to be conveyed by the party of the first part to Ralph Cox; thence along thelast described land, North 156 071 20" Nest. 412.29 feet to a stake set on the southerly line of pain Road; thence along said southerly line of Main Road North 570 44 ' 4o" East 141.2 feet to the point of beginning. Premises are described in deed dated July 25, 1945 and recorded in the Suffolk County Clerk's Office in Liber 2481 of Deeds Page 458. Section 2. The Town Board of the Town of Southold, Suffolk County'# N*w York, is hereby requested to authorize the issuance of $ 24 '000 serial bonds of said Town pursuant to the provisions of the Local Finance Law to pay a part of the maximum estimated cost of such object or purpose. Section A certified copy of this resolution shall be filed with the Town Board of said Town. Section 4. This resolution shall take effect immediately. s e • The question of the adoption of the foregoing resolution was duly put to a Grote on roll call, which resulted as follows : VOTING . Ej V VOTING AT?, —baurende F. Reeve VOTING The resolution was thereupon declared duly adopted . x 40 STATE OF NEW YORK : ss . . COUNTY "OF SUFFOLK: I. the undersigned Secretary of the Board of Park Commissioners of the Mattituek Park District in the Torn of Southold, County of. Suffolk, State of New York, DO HEREBY CERTIFY That I have compared the annexed extract of the minutes of the' , meeting of the Board of Park Commissioners of said Mattituck Park District, including the resolution contained therein, held on the 13th day of December, 1972, with the original, thereof on file in my office, and that the same is a true and correct transeript" therefrom and of the whole of said original so far as the same relates to the. subject matters "therein referred to. I FURTHER CERTIFY that all members of the" said Board. had due notice of said meeting. IN WITNESS WHEREOF , T have hereunto set my hand the 13th day of December, 1972. Madel ne S. Ha&6, Secretary Board of Park Commissioners The following resoLt-}; on was offered by JusticeOuter , who moved its adoption, second by Councilman Rich , to W_ . BOND RESOLUTION DATED January 23 , 1973 . A RVSOLUTION AUTHORIZING THE ISSUANCE OF $24, 000 SERIAL BONDS OF THE TOWN OF SOUTHOLD, SUFFOLK COUNTY, NEW YORK, TO PAY THE COST OF THE ACQUISITION OF CERTAIN REAL PROPERTY IN AND FOR THE MATTITUCK PARK DISTRICT IN SAID TOWN. WHEREAS, the Board of Park Commissioners of the Mattituck Park District in the Town of Southold, Suffolk County, New York, duly adopted a resolution on the 13th day of December , 1972 , authorizing the acquisition of certain real property, as therein d.escribed,, :i_n and for said Park District, at a maximum estimated cost, including incidental expenses, of $24, 000 , which resolution requests this Town Board to authorize the issuance of $24 , 000 serial bonds of said Town to pay said maximum estimated. cost; NOW, THEREFORE BE IT . R bOLVED, by the Town Board of the down of Soutiiold, Suffolk County, New York, as follows : Section 1. For the specific object or parpose of pairing thc cost of the acquisition of the real property referred to in the preambles hereof in and for the Mattituck Part: District in the 'Town of Southold, Suffolk County, New York, there are hereby authorized to be issued $24, 000 serial bonds of said Town pursuant to the Local Finance Law. STATE OF NEW YORK COUNTY OF SUFFOLK Office of the Clerk of the ss: This is to certify that I, Albert W. Richmond, Clerk of the town of Southold, in TOWN OF SOUTHOLD the said County of Suffolk, have compored the foregoing copy of resolution with the original resolution now on file in this office, and which was passed SE A L by the Town Board of the town of Southold in said County of Suffolk, on the ....2 3rd day of .........January 19.....7.E and that the some is a correct and true transcript of such original resolution and the whole thereof. In Witness Whereof, I have hereunto set my hand and affixed the seal of said Town this ......9th .. day of ......February...... . 19 73 Clerk of the Town Board, Town of Southold, County of Suffolk, N. Y. • Section 2 . The maximum estimated cost of such specific ob- ject or purpose, including incidental expenses , of $24, 000 , and the plan for the financing of such maximum estimated cost is by the issuance and sale of $24 , 000 serial bonds of said Town herein authorized. Section 3 . It is hereby determined that the period of probab-L2 usefulness of such object or purpose, pursuant to subdivision 21 of paragraoh a of Section 11. 00 of the Local Finance Law, is thirty yeais , and that the maximum maturity of the bonds herein authorized will exceed five years . Section 4 . The faith and credit of the Town of Southold, Suffolk County, New York, are hereby irrevocably pledged for the payment of said bonds and the interest thereon. To pay said bonds and the interest thereon, there shall annually be levied and assesses' against the taxable real property of said Park District, and collected -n,.c manricr, at the samme timme , and by tide scute U£ 'ice-L , as the taxes of said Town are levied, assessed and collected, an arrmo.int sufficient to pay such principal and interest as the same respectively become due and payable, but if not paid from such source , all the taxable real property within the Town will be subject to the levy of ad valorem taxes to pay said bonds and interest thereon without limitation as to rate or amount. Section 5 . Subject to the provisions of the Legal Finance Law, the power to authorize the issuance of and to sell bond anticipation notes in anticipation of the issuance and sale of the serial bonds herein authorized, including renewals of such notes , is hereby delegated to the Supervisor , the chief fiscal officer. Such notes shall be of such terms , form and contents , and shall be sold in such manner, as may be prescribed by said Supervisor , consistent with the provisions of the Local Finance. Law. Section 6. The validity of such bonds and bond anticipation notes may be conteated only if : 1) Such obligations are authorized for an object or purpose for which said Town of Southold is not authorized to expend money, or 2 ) The provisions of law which should be complied with at the date of publication of this resolution are not substantially complied with, and an action, suit or proceeding contesting such validity is com- menced within twenty days after the date of such publication, or 3) Such obligations are authorized in violation of the provisions of the Constitution. Section 7 . This resolution, which takes effect immediately, shall be published in full in the Long Island Traveler--Mattituck Watchman, a newspaper published at Southold, Town of Southold, New York, and in the Suffolk Times , published at Greenport, Town of Southold, New York, both papers having a general circulation within the Town of Southold, together with a notice of the Town Clerk in substantially the form provided in Section 81. 00 of the Local Finance Law. The question of the adoption of the foregoing resolution was duly put to a vote on roll call, which resulted as follows : Ayes : Supervisor Martocchia, Councilman Rich, Councilman Homan, Justice Suter , Justice Demarest. The resolution was thereupon declared duly adopted. object or purpose of paying the cost of the acquisition of the real property referred to jn the NOTICE preainbks hereof.in and for the Mattituck Park District in the The resolu , published Town of Southold,Suffolk County, herewithon the New York, there are hereby 23rd day of` ,and the COUNTY OF SUFFOLK. 1 authorized to be issued $24,000 validity „of gations STATE OF NEW YORK, ss serial bonds of said Town Pur- authorize byy., lution suant to the Local Finance Law. may be'here�fftr ted only Section 2. The maximum if such ohftghtibns were • • • Stuart C.Dornan , , , , , , being duly Sworn. estimated cost of such specific authorized for–au object or ' . . • . object or purpose, including purpose,for vv 'the Town of says that . .he. . . is Printer and Publisher of the SUFFOLK incidental expenses, of $24,000, Southold,in the CdWity of Suffolk, and the plan for the financing of New York is nW:autll"orized to WEEKLY TIMES. a newspaper published at Greenport, in said such maximum estimated cost is expend money or if the provisions by the issuance and sale of$24,000 of law which xbould have been county; and that the notice, of which the annexed is a printed serial bonds of said Town herein complied with.aq,of the date of authorized. publication of thig 1 etice"were not copy, has been published in the said Suffolk Weekly Times Section 3. It is hereby deter- substantially complied with, and mined that the period of probable an action, suit or: proceeding once in each week. for . . . . . . . . . . . . onq . . . . . . . . . . . weeks usefulness of such object or contesting _such `validity is first purpose,pursuant to subdivision commenced withiti'"twenty days successively c7om icing ori the . . . . . . . . . . . . . . . . . . . . . . . . . . 21 of paragraph a of Section 11.00 after the publication of this of the Local Finance Law, is notice, or soul-o6libtions were day of . . ,Februa 73 thirty years, and that the authorized in violation of the maximum maturity of the bonds provisions of the constitution. • . • • . . . • • ` • . • ' • • • ' • ' ' ' ' ' herein authorized will exceed five ALBERT W.RICHMOND ' � years. - Town Clerk Sworn to befoye me this . . . ... . . . . . . ; Dated: January 23, 1973. of the Town of Southold, Suffolk : .f!. /. '� . . 19. Section 4.The faith and credit BOND : RES 0 L U T I O N day of . . .. . '. J County, New York, are hereby DATED January 23, 1973. . 1/1. . t t : irrevocably pledged for the A R E:S O L U T I O N r i r r• r., payment of said bonds and the AUTHORIZING T`HE {.,�, .,,, • • • • • • '' ' • • ' ' ' ' . ' interest thereon. To pay said ISSUANCE OF 29,000 •;'�•v,� •i'Uitire bonds and the interest thereon, SERIAL BONDS OF THE there shall annually be levied and TOWN OF SOUTHOLD, k,,,. NMy rom,,.ss ,n Expires „rct 3G, 19_ assessed against the taxable real SUFFOLK COUNTY, NEW property of said Park District, YORK, TO PAY THE COST and collected in the same OF THE ACQUISITION OF manner,at the same time,and by C E R T A I N R E A L the same officers as the taxes of PROPERTY IN AND FOR said Town are levied, assessed THE MATTITUCK PARK un 2maunt suf- DISTRICT IN SAID TOWN. ficient to pay such principal and WHEREAS,the Board of Park interest as the same respectively Commissioners of the Mattituck become due and payable, but if Park District in the Town of not paid from such source,all the Southold, Suffolk County, New taxable real property within the york, duly adopted a resolution Town will be subject to the levy of on the 13th day of December, ad valorem taxes to pay said 1972, authorizing the acquisition bonds ---A of certain real property, as without limitation as to rate or amount. therein described,in and for said Section 5. Subject to the Park District, at a maximum provisions of the.Local Finance estimated cost, including in- Law, the power to authorize the cidental expenses, of $24,000, issuance of and to sell bond an- which resolution requests this ticipation notes in anticipation of Town Board to authorize the the issuance and sale of the serial issuance of$24,000 serial bonds of aa��pp��pp�" dip said Town to pay said maximum he 0 egated to the Super estimated cost; NOW, visor, the chief fiscal officer. THEREFORE BE IT Such notes shall be of such terms, RESOLVED, by the Town form and contents, and shall be Board of the Town of Southold, sold in such manner, as may be Suffolk County, New York, as prescribed by- said Supervisor, follows: consistent with the provisions of Section 1. For the specific the Local Finance Law. Section 6. The validity of such bonds and bond anticipation notes may be contested only if: 1) Such obligations are authorized for an object or purpose for which said Town of Southold is not authorized to expend money, or 2) The provisions of law which should be complied with at the date of publication of this resolution 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 3) Such obligations are authorized in violation of the provisions of the Constitution. Section 7. This resolution, which takes effect immediately, shall be published in full in the Long Island Traveler—Mattituck Watchman, a newspaper published at Southold, Town of Southold, New York, and in The Suffolk Times, published ai Greenport, Town of Southold, New York,both papers having a general circulation within the Town of Southold,together with a notice of the Town Clerk in substantially the form provided in Section 81.00 of the. Local Finance Law. �°r`• NOVICE . ,. , Y A`, purpose, p&uant to subdivision cP esolut,�n ;pu4lishecl he e- 21 of p aph a o3 section has be adopted adopted on the 13.00 oftile-Local Finance Law, d day of jikmiary, :1913 anrd is thirty years, and that the .he validp. ct £'e ,Qbii Qns X SUFFOLK iisaximum maturity of the bonds �; authori7 t ` >r If3leih authorized will exceed NEW YORK may be he Ye years. if silo+ oi13 �atldfll Mpt %ECTI ,4. The faith and ?zed fol A14;oo 'Pt>E i edit of.the ToWfi of Southold, which the ' wn &iMill: co ,rw York, are the County df STew, 'oz Herebyfrrev pledged for Whitney Booth, Jr., being duly sworn, says is }iitDt suidlo, ,, to .ex%rp , � : , the pay iC '"d bonds and mozliv oi�;' tl7e;, govisiorl of the inter . To pay said is the Editor, of THE LONG ISLAND w wYkfc}) #lould i41P bee1i c firp bends afi rest thereon, _ MATTITUCK WATCHMAN a public news- 01i ci wit of ti?�date of pu ,. ki ere shall annually be levied and lir ti* of'tl 4. ice were not i '�.. ;assesse�agr�l:nst the taxable real ted at Southold, in Suffolk County; and that Sub', !p9m ied with, and ,,- property of said Park District, ail , :suit or proceeding and collected iri'the same man- :)f which the.annexed is a printed copy, has been contesting such. validity is com- ner, at the same time, and by menced within twenty days after the same.officers as the taxes of n said Long Island Traveler-Mattituck Watch- the, of this notice, or �' said Town arp levied, assessed such obligations were authorized in violation o the and collected, an amount suffi- each week for ...... n ?i.. .....!.....1..�.. Weeks, t' provisions of tient to pa.v such principal and the constitution. interest as the same respectively !- ALBERT W. RId'f MOND commencing on the ........... ............... become due and payable, but if ' Town Clerk not paid from such source, all Dated: January 23, 1973. the taxable real property within f - .•••• )9 •••• BOND RESOLUTION the Town will be subject to the DATED JANUARY 22, 1973. levv of ad valorem taxes to pay A RESOLUTION AUTHOR- Said bonds and interest thereon AUTHOR- IZING THE ISSUANCE OF without limitation as to rate or """"""'"""""""""'�z""/"'•'•"""' •'••'•......•••• $24,000 SERIAL BONDS QF, amount. THE TOWN OF SOUTH9!.,D, SFCTION 5. Subject to the SUFFOLK COUNTY, NEW DroviSions of.the Local Finance ` YORK, TO PAY THE.COST Law, the`power to authorize the J L OF THE ACQUISITION OF issuance of and to sell bond an- CERTAIN REAL PROPERTY ticiDation notes in, anticination worn to before me this ....... . ./.:. ......... day of �K IN AND FOR THE MATTI- of the issuance and Bale of the -'�. , TUCK PARK DISTRICT IN serial bonds herein authorized, ,,,,1�,t•;_; 19 •,.�•.• SAID TOWN. including renewals of such notes, •••• ••••..•. WHEREAS, the Board of Park , is herebd deteeated to the Snner- Commi_ssioners of the Mattituck visor $tii}p f fiscal officer. Park District in the Town of Sttch node ll'be of such terms, Southold, Suffolk County, New form an�1, 1�i'tents. and shall be / York, duly adopted a resolution sold in-#J`3ananiler. as may be r on the 13th day of December, i i i �..(<,.i..C........ ..... ...g'::C..C�.•::......... prescx,bed ,b said Supervisor, Notary Pub11c 1972, authorizing`the acquisition rnn�ist.�nt with the nrovisions of of certain real property, as there- the Local lAnsknee I aw. 4 in described, in and for said SFCThIN P. Th- validity of Park District, at a maximum such bonds atld bond anticination ADELE PAYNE estimated cost, including inti- notes ma.v,bP contested.only if: Notary PuLfc, Stag cf Nevd York dental expenses, of$24,000, which 1) enrb- ohlivatinns are mth- Rrsi��ir�.<.; in resolution requests this Town orized for an obiect or our- Board to authorize the issuance vo�P for •117loich said--Town Corrniss n,i E;.rr. h 3C, 7.9f__� of $24,000 serial bonds of said ! of Southn)d is. not author- Town to pay said maximum esti- ., izPd to exnend monev, or mated cost; NOW, THEREFORE 2i e. nrovisions of low which uld be en rDlied with at BE IT f of.nublication of this RESOLVED, by re.cnlr'ani; ,, on are` not. q,1hStan- vl Board of the Town of Southold, tialti[.igmmnliPd with. Suffolk County,. 1Y9°w. :York, as and an aetfnit►. shit or nrncee.ding follows: contestsnu'-sii.h volidity is com- SECTION 1. For they"Re fit mencPd withyn twenty days after object or purpose of paying the th- date of such nublication. or cost of the acquisition ,of the 31 Such ohl cations are auth- real property referred to in the prized in �vinIntion of the preambles hereof in and for'the nrovisions of.the Con-titu- A Mattituck ParX District in the tion. Town of Southold. Suffolk Coun- FECTTON 7 This. resolution, ty, New York, there are hereby r which takes Pffect !vT a nnPdiatPly, authorized to be issued $24,000 sbnll he miblished in full in the serial bonds of said Tggn, Pur--, I,on¢ Wand Traveler-Mattituck suant to the Local Finance Law. Watnhman. a, newsDaDer Dublish- SECTION �. The ma nuir>?I' '1 ed st Southold. Town of South- estimated cost of such,*ftiffe old. New York. and in the Suf- object or purpose, incliAditlg in folk Times, published at Green- cidental expenses. $24,004, and nort. Town of Southold. New the plan for the financing. of York. hnth naners having a een- such maximum estimated cost.i3 Prnl circulation within the Town by the issuance and sale' of of Southold. together with a no- $24,000 serial bonds of said town, tine of the. Town Clerk in sub- herein authorized. Stantia.11y the form Drovided in SECTION 3. It is hereby de- Section 81.00 of the. Loc,ai Fi- able usefulness of such object or nsnee Law, termined that the period of prob- 1T-2-1 5819-G �j ~ BOND ANTICIPATION NOTE CERTIFICATE DATED MARCH 8;, 1973. CERTIFICATE OF THE SUPERVISOR OF THE TOWN OF SOUTHOLD, SUFFOLK COUNTY, NEW YORK, AUTHORIZING THE ISSUANCE OF A $24,000 BOND ANTICIPATION NOTE OF SAID TOWN TO PAY THE COST OF THE ACQUISITION OF CERTAIN REAL PROPERTY IN AND FOR THE MATTITUCK PARK DISTRICT IN SAID TOWN. 1, the undersigned Supervisor of the Town of Southold, Suffolk County, New York, DO HEREBY CERTIFY: 1. Pursuant to bond resolution dated January 23, 1973, duly adopted by the Town Board of said Town on said date, authorizing the issuance of $24,000 serial bonds of said Town to pay the cost of the acquisition of certain real property in and for. the Mattituck Park District, including incidental expenses, which is an assessable improvement, and delegating to me, as chief fiscal officer, power to authorize the issuance of and to sell bond anticipation notes , including renewals thereof, in anticipation of the issuance and sale of said bonds , which power is in full force and effect, and has not been modified, amended or revoked, I HEREBY AUTHORIZE the issuance of a bond anticipation note of said Town in the principal amount of $24,000 in anticipation of the sale of said bonds. Said note shall be dated .--KarQh_ 8 , 1973, shall be numbered 1, shall be of the denomination of $24,000, shall bear interest at the rate of three and one-eighth---------------- Per centum ( 3 1/8 %) per annum, payable at maturity, shall mature on Marsh ;;:$, 1974, and both principal of and interest on said note shall' be payable in lawful money of the United States of America at Valley Bank of New York , in Greenport . New York. Suoh'note is not a renewal note. 2. The specific object or purpose for which said note is hereby authorized to be issued is to pay the cost of the aforesaid specific object or purpose. The amount of serial bonds to be issued for such specific object or purpose is $24 ,000. 3. No bond anticipation notes are presently outstanding or have heretofore been issued in anticipation of the sale of said bonds. - 2 - Y J � I 4 . Such note shall be executed in the name of said Town of Southold, New York, by its Supervisor, sealed with its corporate seal, attested by its Town Clerk, and the same shall be in substantially the form attached hereto. Such note is hereby sold at private sale to Valley Bank of New York in Greenport , New York, at a price of not less than par and accrued interest, if any. To the best of my knowledge and belief, no officer or employee of said Town has an interest in the sale of said note prohibited by Article 18 of the General Municipal Law, as amended. Dated: Southold, New York, $,, 1973. "'-March: C � � z � ✓ "_ / f /. (r_ //f t.11 Supervisor An executed counterpart of the foregoing certificate, with form of note attached, was filed with the Town 'Board of said Town, this :$t! a day of : Mar.ah.,.' , 1973. Town C er (S E A L) 1 UNITED STATES OF AMERICA STATE OF NEW YORK C:t?M,tNTY OF SUFFUi,R TOW OF SOUTHOLU B014D r'3.ir`TICIPAT'ION NOTE, 1973 No. 1 $ 24,000 The Town of Southold, in the County of Suffolk, a municipality of the State of New York (herein called the "Obligor"), hereby acknowledges itself indebted and for value received promises to pay to the bearer of this note, or if it be registered, to the registered holder, the sum of w' � , 3 .. ra� TY����u�;�� �xO��S.�t�z_) JEr�.L���,.3S (:;>24,000) on the 8thdayof 'Ila ra'h 1974 together with interest thereon from the date hereof at the rate c ,J ,; er centum-( 3--") per annum,payable at maturity. Both principal of and interest on this no it be paid in lawful money of the United States of America at Bank. in _ l� _..,_.., Pde3w York. his note may be redeemed prior to maturity and re 'stere my in acc d ith the applicable provisions stated on the reverse side hereof, which or eby a apart of t is te. This note is one of a total authorized issu 4 issued pursuant to proceedings duly adopted by the Finance Board of the Obligor, 0l J ary 2 3► 197 3,, and also pursuant to., "1 OND All d lr.: leC3'i' " C: 1. 't UnTl 1973• C.EPTIFICATSU "RVI OR T11L °1owLi OE° -t+:t`rimauo SUFFOLK COUNTY, NEW YO t' AUT4 I'` NG ' , . TS;iUANCL (z i $24,000 BOND >ANTICIPX1!I01i 1jQTB U SAID `1 A`- T -AY °T'HL" COST c)F THE ACQUISITION UP A N L PROP ,1 "Y Iali Atif FIX? THE Plh+ITITUCK PARK DISTRICT W 0 The faith and cre ' of th bligor are hereby irrevocably pledged for the punctual payment of the principal of and interest on this note according to its terms. It is 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 note, exist, have happened and have been performed, and that this note, together with all other indebtedness of the Obligor is within every debt and other limit prescribed by the Constitution and laws of such State. IN WITNESS WHEREOF, the Obligor, in accordance with the proceedings authorizing this note, has caused this note to be signed and its corporate seal to be hereunto affixed and attested as appears below, and this note to be dated as of the _. 8 t h day of March ' 19 71 TOWN OF SUUTkiUi Dv SUFFtiLX COUNTY, NEW YORK By 1 ATTEST: Provisions for redemption of this note prior to maturity: + iV J. L.. Q U Y w p U. 3 O W U) Z LLI� O N W W W LLI W F— F— z N 40 Z Z Q Q Provisions for the registration of this note: :dV it, REGISTRATION CERTIFICATE It is hereby certified that the within note has been registered as follows: Date of Registration Name of Registered Holder Registered by 8YB$8. GALLOWAY & DIZZMAN An, acid CounwVora at Law 120 Broadway Now Tack 10005 f91nsing f�rrfiirtt#l� We,the undersigned do hereby certify: That we are the offiicers of the Town of Southold, Suffolk County, New York, (hereinafter called the "Obligor") indicated by the official title set opposite our respective signatures to this certificate. That we did officially execute$ 24 ,000 Bond Anticipation Note, 1973 of said Obligor, denomination of $ 2 4,0 0 0 quix dated March 8 " 19 7 3 interest 3 13 % per annum,and being numbered and payable as follows: Numbered 1 and maturing March 8, 1974. That no litigation of any nature is now pending or, to our knowledge, threatened (a) to restrain or enjoin the issuance or delivery of said obligations or the levy and collection of taxes or assessments to pay the same, (b) in any manner questioning or affecting, directly or indirectly, the validity of said obligations or the proceedings or authority for the issuance thereof, or (c) contesting the corporate existence or boundaries of the Obligor or the title of the undersigned officers to their respective offices; that no authority or proceedings for the issuance of said obligations has been repealed,revoked or rescinded; that the corporate seal of the Obligor, or a facsimile thereof,has been impressed or imprinted on all of said obligations; and that on the date of the execution of said obligations and on the date set forth below, we were and are the duly chosen, qualified and acting officers in- dicated therein and on this certificate and duly authorized to execute said obligations. That on the date of this certificate, said obligations were actually delivered to the purchaser thereof against receipt of the purchase price as follows: Principal (par value): $ 24,000.00 Premium: $ —0— Accrued 0— Accrued interest from date of said obligations to date of delivery: $ —0— TOTAL: 0—TOTAL: $ 24,000.00 Wrrmms our official signatures the 83;hday of Mar.eh , 19 73 being the date of the actual delivery of said obligations,as aforesaid. Official Title Term of Office E.xpire5 o i e Su ti prvsr Dec .l /ZX �/?/I' _ 31 1973 Town Clerk Dec . 31, 1973 I hereby certify that the signatures of the officers above subscribed are true and genuine. Valley Bank of New York .... . ....... .. .. ...... (NAME OF BANK) (azcNA'rtrnE AND rrrM) 5819-c BOND ANTICIPATION RENEi+4 NOTE CERTIFICATE DATED MARCH 8, 1974 . CERTIFICATE OF THE SUPERVISOR OF THE TOW14 -00 SOUTHOLDo, SUFFOLK COUNTY, 'NEW YORKe, AUTHORIZIN'G THE ISSUANCE OF AN $18,000 BOND ANTICIPATION RAN `AL, NOTE'OF SAID TOWN' TO PAY PART 0.7- THE COST ' OF THE ACQVISIT$ON OF CERTAIN REAL PROPERTY IN AND FOR ,THE MATTITUCK PARK DISTRICT IN SAID TOWN. ,I, the undersigned Supervisor of the Town of Southold, Suffolk County, New York, WHEREBY CER'IIFYs 1. Pursuant to a bond r"olution .dated January 23, 1973, duly adopted by the Town Board of said Town on said date, authorizing the issuance of $24,000 u ei rial bonds of said Town �,to i,pay the, cost of the acquisition Of certain real property in and for they Mattituck Park District, including4hici4ental expenses, which is an assessable improvement, and delegating to me, as chief fiscal officer, :power to ,authorize the issuance, of and to sell bond anticipation notes, .ncluding renewals there- of, in antioipatn of the issuance and *410 of said bonds, which power is in full force and `+ff+set,` and has not be®n` modified, "am®nded or revoked, I HEREBY,AtTHORIZE the issuance of a bond anticipation renewal note of said" Town -in the `prinaipal�°amount Of $18,000 in anticipation of the sale of said bonds. SaidAenetwal note shall be dated March 8, 1974, shall be numbered 1-R, shall `,,WF.Of "the denomination of $18,000, shall bear interest oul? nd ._� __ per` centum,, at the rate of �'" p 4 . 1 per annum, payable at maturity, shall m4.ture on March 7, 1975, and both principal of and interest on said note shall be payable in lawful moneX of the, United States of America at Bank o1` .Yoj� v - - -- - in Greenport , New York. Such note is a' reniowal note 2. The 'specific object or purpose for which said note is hereby authorized to be issued is to pay part of the cost of the aforesaid specific object or purpose. The amount of serial bonds to be issued for such specific object or purpose is $18,000 . 3.. %6,4iote herein authorized is issued for the purpose of renewing, in part, the outstanding $24,000 Bond Anticipation Note, 1973, numbered 1, dated March 0, 1973, and maturing March 8, 1974s, which is -the only bond anticipation nate now outstanding in anticipation of the sale of said bonds. r The balance of said outstanding note, in the amount of $6,000 will be paid from available current funds appropriated,-,.therefor. The date of the ,first bond anticipation note issued in anticipation of the sale of said bonds was March 8, 19730 4. Such renewal note shall be executedthe name of said Town of Southold, New York, by its Supervisor, sealed with, its corporate i seal, attested by it' Town ,Clerk, and the same shad be in substantially the form attached hereto. Such note is heareby ,Spld at private` ato Valley Yorklley Bank o ' .;�: Yorki �, Greer.port: ^New Yorkp ata . . price of not less than par and accrued interest, if any. To the .best of my knowledge and belief, no officer or employee of said Town has an interest in, the sale of said note prohibited by Article 18 of the' Geeral Municipal Law, as amended. Dated: Southold, New York, March 8, 1974 . Supery or An executed counterpart of the foregoing certificate, with ,form. of note attached was filed with the Town Board of said Town of Southold, New York, this 8th day of March, 1974. own Cie ( S E AL ) i UNITED STATES OF AMERICA STATE OF NEW YORK COUNTY OF SUFrOLI{ TOWN OF SOUTHOLD BOND ANTICIPATION NOTH, 1974 (RENEWAL) No1-R 18,000 The Town of Southold, in the County of Suffolk, a municipality of the State of New York (herein called the "Obligor"), hereby acknowledges itself indebted and for value received promises to pay to the bearer of this note, or if it be registered, to the registered holder, the sum ofRIGHTREN THOUSAND DOLLARS ($18#000) on the7th day of March 197$ together with interest thereon from the date hereof at the rate Off our and 19/1QQ V-,.... ..�.__.._..�it/iii __ ._ per centum ) per annum, payable at maturity. Both principal of and interest on t ill be paid in lawful money of the United States America at Valley Bank of New � in Greenport NeW YO This note may be redeemed prior to maturity an fere only in ac r with the applicable provisions stated on the reverse side hereof, whit r ereb de a part t s note. This note is one of a total authorized iss A issued pursuant to proceedings duly adopted by the Finance Board of the Obliges an al'y 23, 1973, and pursuant to$ wSOND ANTICIPATION Im ' $ R DATED MARCH S, 1974. CERTIFICATE OF THE SUP$ OR ' T SOUTHOLD, SUFFOLK COUNTY# NEW YORK, AUTHO ING T SU OF AN $18,000 BOND ANTICIPATION RAW N OF SAI O PAY PART OF THE COST OF THE ACQUISITION O REAL P BERTY IN AND FOR THE MATTITUCK PARR DISTRICT T The faith and cr a Obligor are hereby irrevocably pledged for the punctual payment of the principal of and interest on this note according to its terms. It is certified and recited that all conditions,acts and things required by the Constitution and statutes of the State of New York to exist, to have happened and to have been performed precedent to and in the issuance of this note, exist, have happened and have been performed, and that this note, together with all other indebtedness of the Obligor is within every debt and other limit prescribed by the Constitution and laws of such State. IN WITNESS WHEREOF, the Obligor, in accordance with the proceedings authorizing this note, has caused this note to be signed and its corporate seal to be hereunto affixed and attested as appears below, and this note to be dated as of theSth day ofMarch Y114 TOWN OF SOUTHOLD, SUFFOLK COUNTY, NEW YORK �pex�► s©= - ATTEST. es 1 Provisions for redemption of this note prior to maturity: Nene. do in U Y G7 4W Q >- O W to M Qq to Z 04 LL- © O N W W H W W Q H cc r W W . 1- Z a 40W. z -Z ¢ a Provisions for the registration of this note: None. REGISTRATION CERTIFICATE It is hereby certified that the within note has been registered as follows: Date of Registration Name of Registered Holder Registered by sYKM GALLOWAY ! DIZZMAR All, m as/Ceaaregsis at Law Ido Heosdws7 NOW Took 10001 Thising (Irrufirtt#e We,the undersigned do hereby certify: That We are the officers of + t 'lrOW& of i►' ld, S*ilolk COMO# Now #t*Xk (hereinafter called the "Obligor") indicated by the official title set opposite our respective signatures to this certificate. That we did officially execute$ l8a0if3 Do" me"i IS 74 ( of said Obligor, denomination of $ a�, date , 1J. , interest ea qo per annum,and being numbered LApaf"ya% as follows: •»•+• 1-fit *Ad Varkl"A" Xweb 70 1M. That no litigation of any nature is now pending or, to our knowledge, threatened (a) to restrain or enjoin the issuance or delivery of said obligations or the levy and collection of taxes or assessments to pay the same, (b) In any manner questioning or affecting, directly or indirectly, the validity of said obligations or the proceedings or authority for the issuance thereof, or (c) contesting the corporate existence or boundaries of the Obligor or the title of the undersigned officers to their respective offices; that no authority or proceedings for the issuance of said obligations has been repealed,revoked or rescinded; that the corporate seal of the Obligor, or a facsimile thereof,has been impressed or imprinted on all of said obligations; and that on the date of the execution of said obligations and on the date set forth below, we were and are the duly chosen, qualified and acting officers in- dicated therein and on this certificate and duly authorized to execute said obligations. That on the date of this certificate, said obligations were actually delivered to the purchaser thereof against receipt of the purchase price as follows: Principal (par value): Premium: Accrued interest from date of said obligations to date of delivery: TOTAL: $ WrrA'Ess our official signatures the day of , 19 74 being the date of the actual delivery of said obligations,as aforesaid. Signature Official Title Term of Office E I hereby certify that the signatures of the officers above subscribed are true and genuine. or New Yorlk . . . . . . . . . . . . . . . . .. . ....... . ....... .. .... .. .. NAME OF BANK . . . . . ./��1 .. .. . ... .... ........ . ...+F7/. sIGNATmz AND TrrLz ARBITRAGE UERTIFICATE 5819-G BOND TICIPATION RENEWAL NOTES I, the undersigned Supervisor , DO HEREBY CERTIFY that I am an officer of tho Team of Southold. SuPPolk County New York, c a ged, with others, with the respponsibility for issuing the $18,000 Bond Anticipation Note, 1974 (Rsnewail) (the Note s )and that' at_ on the basis of the facts , estimates an circumstances now in existence and herein set forth, it is not expected that the Note (s) will constitute "arbitrage bonds" within the meaning of Section 103 (d) of the Internal Revenue Code of 1954 and the applicable Regulations prescribed by the Secretary of the Treasury promulgated there- under (hereinafter collectively called the "Code") . In issuing this certification, I have relied on the following facts, estimates and circumstances : 1. The Note (s) will be issued on , 197 _ for the purpose of renewing (in part) a prior issue -of bond anticipation (renewal) notes maturing on , 197,E The Note (s) is/����� issued in anticipation o t e issuance -of serial bonds duly authorized for a governmental purpose, to wit, to-P&Y part of the cost 99 t.#e-a Qq�#s ties--a€-eeactaia--__M_ mprr Py 4 a obnd *Tor the ( pec to s wil mature on March 7 , .197 at which time they will be renewed by a subsequent issue of bond anticipation renewal notes , or serial bonds will be issued to provide the long-term financing of the Project or the Note (s) or a part thereof will be paid from a source other than the proceeds- of such bonds or notes. 2. A substantial binding obligation in the form of contract was entered into on January 24 , 1973 3. The principal amount of this issue of Note (s) , together with the principal amounts of all other notes issued for the Project, is $ Under present estimates , the maximum estimated cost of the Project will be $244000 . For purposes of this certificate, the term "maximum estimated cost" means the total project cost reduced by any amount to be expended on the Project from sources other than bonds or notes. 4. One Hundred (1000--------- per cent of the "spendable proceeds" (as defined in the Code) of the Note (s) have been expended or will be ex- pended within the three-year period which began on the date of issue of the first issue of bond anticipation notes of which the Note (s) is/are a re- newal. 5. The Project (is completed) Y ? �� To the best of my knowledge and belief, there are no other facts , estimates or circumstances which would materially change the expectations set forth in this certificate. This certificate is executed as of the date of issue of the Note (s) (i.e. , the date of delivery of the Note (s) in exchange for the issue price) . IN WITNESS WHEREOF, I have hereunto set my hand and the seal of said Team of Southold this gth day of March , 197_4 Supervisor (S E A L) • � 5819-G * , BOND ANTICIPATION RENEWAL NOTE CERTIFICATE DATED MARCH 7r 1975. CERTIFICATE OF THE SUPERVISOR OF THE TOWN OF SOUTHOLD, SUFFOLK COUNTY, NEW- YORK, AUTHORIZING THE ISSUANCE OF A $14,000 BOND ANTICIPATION RENEWAL NOTE OF SAID TOWN TO PAY PART OF THE COST OF THE ACQUISITION OF CERTAIN REAL PROPERTY IN AND FOR THE ,MATTITUCK PARK DISTRICT ZN SAID Tbft I, the undersigned Supervisor of the Town Southold, Suffolk County, New York,°­DO. HEREBY CERTIFY: 1. Pursuant to a bond resolution dated January 23, 1973, duly adopted by the 'Town Board of said Town on said date, authorizing the issuance of $24,000 serial bonds of said Town to pay the cost of the acquisition of certain real property in and for the Mattituck Park District, including incidental expenses, which is an assessable im- provement, and delegating to me, as chief fiscal officer, power to authorize the issuance of and to sell bond anticipation notes, in- cluding renewals thereof, in anticipation of the issuance and sale of said bonds, which power is in full force and effect, and has not been modified, amended or revoked, I HEREBY AUTHORIZE the issuance of a bond anticipation renewal note of said Town in the principal amount of $14,000 in anticipation of the sale of said bonds . Said renewal note shall be dated March 7, 1975, shall be numbered 2-R, shall be of the denomination of $14,000, shall bear interest at the rate of------ Four and 99/100----------- per centum (------4 .99 %) per annum, payable at maturity, shall mature on March 5, 1976, and both principal of and interest on said note shall be payable in lawful money of the United States of .America at Valley Bank of New York in Greenport , New York. Such note is a renewal note. 2. The specific object or purpose for which said note is hereby authorized to be issued is to renew, in part, the outstanding $18,000 Bond Anticipation Note, 1974 (Renewal) , numbered 1-R, dated March 8, 1974 and maturing March 7, 1975. The balance of said note, in the amount of $4,000 will be paid from a source other than the -2- proceeds of bonds or bond anticipation notes and such amount shall constitute the second installment of the principal amount of such indebtedness. The amount of serial bonds now to be issued therefor is $14,000. 3. No other bond anticipation notes are presently outstanding in anticipation of the sale of said bonds. The date of the first bond anticipation note issued in anticipation of the sale of said bonds was March 8, 1973. 4. Such renewal note shall be executed in the name of said Town of Southold, New York, by its Supervisor, sealed with its corporate seal, attested by its Town Clerk, and the same shall be in substantially the form attached hereto. Such note is hereby sold at private sale to Valley Bank of New York in Greenport , New York, at a price of not less than par and accrued interest, if any. To the best of my knowledge and belief, no officer or employee of said Town has an interest in the sale of said note prohibited by Article 18 of the General Municipal Law, as amended. Dated,: Southold,;- New York, March 7; 19`75. r Supervisor An executed counterpart of the foregoing certificate, with form of note attached, was filed with the Town Board of said Town of Southold, New York, this 7th day of March, 1975. ownClerk-- S E A L UNITED STATES OF AMERICA STATE OF NEW YORK COUNTY OF SUFFOLK TOWN OF SOUTHOLD BOND ANTICIPATION NOTE, 1975 (RENEWAL No. 2-R 14,000 The Town of Southold, in the County of Suffolk, a municipality of the State of New York (herein called the "Obligor"), hereby acknowledges itself indebted and for value received promises to pay to the bearer of this note, or if it be registered, to the registered holder, the sum of FOURTEEN THOUSAND DOLLARS ($14,000) on the day of , 19 together wit 'nterest thereon from the 5th March 76 _ „,per centum ( ) date hereof at the rate of Four and 99/Y�J�1_._......,.,..,»,..w..,�,..,. 4 per annum, payable at ma un y. ZVoth principes o ana to e e ill be paid in lM fiit"Mney of the United States of America at Valley dank at N k in Gre®nport New York. This note may be redeemed prior to maturity an r ere only in acc rda a with the applicable provisions stated on the reverse side hereof, whit r hereb de a part is note. This note is one of a total authorized iss o $ issued pursuant to proceedings duly adopted by the Finance Board of the Obligor, 1 ,000 on J uary 23, 1973, and pursuant to: "BOND IO RE OTE CERTIFICATE DATED MARCH 7, 1975. CERT CATE HE .RVISOR OF THE TOWN OF SOUTHOLD, SUFFOLK CO Y, ;EW, UTHORIZING THE ISSUANCE OF A $14,000 BON I IPATION NEWAL NOTE OF SAID TOWN TO PAY PART OF THE C E CQUI ION OF CERTAIN REAL PROPERTY IN AND FOR ' MATTIT K ISTRICT IN SAID TOWN. ” The faith and cre ' Obligor are hereby irrevocably pledged for the punctual payment of the principal of and interest on this note according to its terms. It is certified and recited that all conditions,acts and things required by the Constitution and statutes of the State of New York to exist, to have happened and to have been performed precedent to and in the issuance of this note, exist, have happened and have been performed, and that this note, together with all other indebtedness of the Obligor is within every debt and other limit prescribed by the Constitution and laws of such State. IN WITNESS WHEREOF, the Obligor, in accordance with the proceedings authorizing this note, has caused this note to be signed and its corporate seal to be hereunto affixed and attested as appears below, and this note to be dated as of the � 1 7th day of March 75 TOWN OF SOUTHOLD, SUFFOLK COUNTY, NEW YORK Supervisor ATTEST: Town Clerk t • MRS. GALLOWAY d DIS$l[AI� Am, Fo a as!CaanmVws at Law 180 Heoadwq Now Took 10001 Void" ( rdiftrate We,the undersigned do hereby certify: That we are the Officers of the Town of Southold, Suffolk County, New York (hereinafter called the "Obligor") indicated by the official title set opposite our respective signatures to this certificate. That we did officially execute$ 14,000 Bond Anticipation Note, 1975 (Renewal) of said Obligor, denomination of $ 14,0 0 0 dated march 7 197 5 , interest 4 .9 9% per annum,and being numbered and payable as follows: Numbered 2-R and maturing March 5, 1976. That no litigation of any nature is now pending or, to our knowledge, threatened (a) to restrain or enjoin the issuance or delivery of said obligations or the levy and collection of taxes or assessments to pay the same, (b) in any manner questioning or affecting, directly or indirectly, the validity of said obligations or the proceedings or authority for the issuance thereof, or (e) contesting the corporate existence or boundaries of the Obligor or the title of the undersigned officers to their respective offices; that no authority or proceedings for the issuance of said obligations has been repealed,revoked or rescinded; that the corporate seal of the Obligor, or a facsimile thereof,has been impressed or imprinted on all of said obligations; and that on the date of the execution of said obligations and on the date set forth below, we were and are the duly chosen, qualified and acting officers in. dicated therein and on this certificate and duly authorized to execute said obligations. That on the date of this certificate, said obligations were actually delivered to the purchaser thereof against receipt of the purchase price as follows: Principal (par value): $ 14,000.00 Premium: $ -0— Accrued 0— Acc rued interest from date of said obligations to date of delivery: $ —0— TOTAL: 0— TOTAL: $ 14 ,000. 00 Wrniws our official signatures the 7th day of March , 1975, being the date of the actual delivery of said obligations,as aforesaid. Signature Official Title Term of Office Exph-w F S upervisor 12/31/75 Town Clerk 12/31/75 I hereby certify that the signatures of the officers above subscribed are true and genuine. lov. (*AMM off, s (9IGNA'"ME AND TME ! _ _.. .. ...... ..... ..�,.......-sla................�..,.....:...-«.w... .. .w...«......u,.•ae.+LuY.+v... __- ....u..+.-.�.t.ass.r.a.rn.ruc.>...» +...<..v.... ^ • h.I:'.J li� l1 11 f i 1 ' 1.f 1•i '.� • L'OND ANTIC.IPATIOi,1 IfLc•]LUAL NOTES 5819—G 1 , Liie Undersigned Supervisor DO HL'ItEBY CE'RTI FY tha L I am an officer of the Town of Southold, - - Suffolk County, New York, charged, with others, with th'e responsibility for issuing the $14,-000 Bond Anticipation Note, 1975 (Renewal) 1 tine Note s ) and that on the Basis of the facts , estimates an circumstances noir in existence and herein set forth, it is not expected _ that the Not-.c (s) will constitute "arbitrage bonds" within the meaning of Section 103 (d) of the Internal Revenue bode of 1954 and the applicable Regulations prescribed by the Secretary of the Treasury promulgated there- under (hereinafter collectively called the "Code") . In issuing this certification , I have relied on the following facts , estimates and circumstances ; 1. The Note (s) will be issued on March 7 JI 197 5 for the purpose of renewing (in part) a prior issue of bond anticipation (renewal ) notes maturing on P,tarch 7 , 197 5 . The Note (s) is/aXVR issued in anticipation of the-issuance of serialoF —nds duly authorized for a governmental purpose, to wit, to pay part of the cost of _the_ acquisition of certain real property in and for fhe matEttuck. PaLk District in said Town •- (the "Project") . The Note (s) will mature on arc .197 6 at which time they will be renewed by a subsequent issue of bond anticipation renewal notes , or serial bonds will be issued to provide the long-term financing of the Project or the Note (s) or a part thereof will be paid from a source other than the proceeds. of such bonds or notes, 2 . A substantial binding obligation in the form of a contract was entered into on January , 3. The principal amount of this issue of Note (s) together -with the principal amounts 'of all other notes issued for the Project , is $ 24000 Under present estimates , the maximum estimated cost of the Proj " ect will be 11 24,000 . For purposes of this certificate , the term maximum estimated cost means the total project cost reduced by any amount to be expended on the Project from sources other than bonds or notes . 4. One Hundred (100%)---------- per cent of the, "spendable proceeds" (as -defined in the Code) of the Note (s) have been expended or will be ex- pended within thethree-yearperiod which began on the date of issue of the first issue of bond anticipation notes of which the Note (s) is/are a re- newal. 5. `.i'he Project (is completed) To the best of my knowledge and belief, there are no other facts , estimates or circumstances which would materially change the expectations set forth in this certificate. This certificate is executed as of the date of issue of the Note (s) (i. e. ; the date of delivery of the Notes) in exchange for the issue price) : . IN WITNESS WHEREOF, I have hereunto set my hand and the seal of ' said T�.Cfn this 7th day of March 19 7 � 5 Supervisor (S F A T.) 1 5819-G BOND ANTICIPATIONRENEWALMOTE CERTIFICATE DATED MARCH 5, `1976. CERTIFICATE OF THR 'SUPERVISOR OF THE TOWN OF SOUTHOLD, SUFFOLK COUNTY, NEW YORK, AUTHORIZING THE ISSUANCE 'OF A $10,000 BOND"ANTICIPATION RENEWAL NOTE OF SAID TOWN TO PAY PART OF THE .COST OF THE ACQUISITION OF CERTAIN REAL PROPERTY IN AND FOR THE'AATTITUCK PARK DISTRICT IN SAID TOWN. 1, the undersigned Supervisor of the Town of Southold, Suffolk, County, New: York, DO HEREBY ,CERTIFYrs Pursuant to a bond resolution dated January 23., 1973, duly adopted by the Toon Board of .said Town on said date, authbrixing the issuance. of $24,000. sorial bonds of said Town to pay the cost of the acquisition of ceartiah real property. in and for the Mattituck Park District, including incidental expenses, which is an aase:ssable improve- ment, .and delegating to me, 'as chief fiscal officer, power toauthorize the issuance of and to sell bond anticipation notes, including renewals . thereof, in anticipation of the issuance and sale of said bonds, which power is in full force and effect, and has not kieenii +dd=fir revoked, I HEREBY`AUTHORIZE the 3.ssuance of a bond anticipation renewal note of 'said Town in the principal amount of $10,000 in .antic tion of the sale ot said bonds. Said renewal note shall be dated Mirc . S )$474. , shall be nvwbex 3-R, shall be of the denomination of $1014070 *xAll bear integre-st at the rate of Seven and 90/100=------`------- TW-- -- per centum per annum, payable at maturity,` shall maturo .on March 4, 1977, and ,both principal of and iftt est on ,igoi o nye ,sh*ta b$e payable in lawful money of the United States of Amer'da tit i�alley Bank of New York in Greenport New York, Such note is�:'a renewal 'note,_ 2. The specific object or purpose for which said noto, is. hereby authorized to be issued is to review, in part, the outs g.,$14,,000 Bond Anticipation Note, 1975 (Renewal) , dated March 7, 1975, ,numbered 2-R, and maturing March 5, 1976. The balance of said outstanding note, in the. amount of $4,000 will be paid from a source other thah "the proceeds of bonds or bond anticipation notes and such amount shall constitute the third installment of the principal amount of such indebtedness. The amount of serial bonds now to be issued therefor is $10,000. 3. No other bond anticipation notes are presently outstanding in anticipation of the sale of said bonds. The date of the first bond anticipation note issued in anticipation of the sale of :said bonds was March 8, 1973. 4. Such renewal note shall be executed in the name of said Town of Southold, New York, by its Supervisor, sealed with its corporate seal, attested by its Town Clerk, and the same 'shall be in substantially the form attached hereto. Such note is hereby sold at private sale to Valley Bank of New York in Greenport , New York, at a price of not less than par and accrued interest, if any. To the best of my knowledge and belief, no officer or employee of 'said Town has an interest in the sale of said note prohibited by Article 18 of the General Municipal Law, as amended. Dated: Southold, New York, March 5, 1976 upery sa An executed counterpart of the foregoing certific,Ate, with `farm` of note attached, was filed with the Town Board of said Tow,,.of, SouthQld New York, this 5th day of March, 1976. Cleric ( S E A L UNITED STATES OF AMERICA STATE OF NEW YORK COUNTY OF SUFFOLK TOWN OF SOUTHOLD BOND ANTICIPATION NOTE, 1976 (RLN AL) No.3-R $101000 The Torn of :Southold, in the County of Suffolk, a municipality of the State of New York (herein called the "Obligor"), hereby acknowledges itself indebted and for value received promises to pay to the bearer of this note, or if it be registered, to the registered holder, the sum o f TEN THOUSAND DOLLARS (110,000) on the 4th day of tsar , 1977 ,to�etber with interest thereon from the date hereof at the rate of `°eve:► �n0/1�I4�..__.... _ per centum ( 7. 90 j per annum,payab a at maturity. Both rinciao and ' ter st on this note will be paid in 1"WIM-money of the United States of America at a1110Y � Yar • in Greenport , No, York. This note may be redeemedprior to a rity d egistered o in accordance with the ap- plicable provisions stated on the reverse sid eo , are hereby made apart of this note. This note is one ofa totala issue of 10 000 issued pursuant to proceedings duly adopted by th Bo d of t O ' r, €n January 23, 1973, and pursuant to: "DO ICI TON AL NOTE CERTIFICATE DATED MARCH 5, 1976. C IFICAT SUPERVISOR OF THE TOWN OF SOUTHOLD, SUF x C UNTY, YORK, AUTHORIZING THE ISSUANCE OF A $10, CIPA N RENEWAL NOTE OF SAID TOWN-TO PAY PART OF COST 0 ISITION OF CERTAIN REAL PROPERTY IN AND FOR MAITMT DIS'TRIC'T IN SAID TOWN." The faith and credit of the Obligor are hereby irrevocably pledged for the punctual payment of the principal of and interest on this note according to its terms. It is certified and recited that all conditions, acts and things required by the Constitution and statutes of the State of New York to exist, to have happened and to have been performed precedent to and in the issuance of this note, exist, have happened and have been performed, and that this note, together with all other indebtedness of the Obligor is within every debt and other limit prescribed by the Constitution and laws of such State. IN WITNESS WHEREOF, the Obligor, in accordance with the proceedings authorizing this note, has caused this note to be signed and its corporate seal to be hereunto affixed and attested as appears below, and this note to be dated as of the 5th day of March 1 19 76. TOWN OF SOOLD, SUFFOLK COUNTY, NEW YORK By Superva or ATTEST: own clerk Provisions for redemption of this note prior to maturity: None. n Q h U W H h M W O a Q04 O ?r P f. Ln W Q to UL CA C4 W 0 W M 'Wr l.W. Z N P4 Z Q ccQ 40 z Provisions for the registration of this note: None. REGISTRATION CERTIFICATE It is hereby certified that the within note has been registered as follows: Date Of Registration Name of Registered Holder Registered by WILLKIE FARR & GALLAGHER (SYKES,GALLOWAY&DIKEMAN) ATTORNEYS AND COUNSELLORS AT LAW 120 BROADWAY NEW YORK,N.Y. 10005 (91ilsing TPttf tratr We,the undersigned do hereby certify: That we are the officers of the Town of �wUf fOl C=nt—U, :iew York (hereinafter called the "Obligor") indicated by the official title set opposite our respective signatures to this certificate. That we did officially execute$ 10 f3?3 tj ,`st!? ' , 3t ici pati on d3tc, 1976 ( 'Zons-'a l) of said Obligor, denomination of $ .r� h, dated r sa rc�-, 5 1976 , interest % per annum, and being numbered and payable as follows: 1�17,urdNers 3 .. ane, naturi nc! ''Iar = 4 , 1977. .: That no litigation of any nature is now pending or, to our knowledge, threatened (a) to restrain or enjoin the issuance or delivery of said obligations or the levy and collection of taxes or assessments to pay the same, (b) in any manner questioning or affecting, directly or indirectly, the validity of said obligations or the proceedings or authority for the issuance thereof, or (c) contesting the corporate existence or boundaries of the Obligor or the title of the undersigned officers to their respective offices; that no authority or proceedings for the issuance of said obligations has been repealed, revolted or rescinded; that the corporate seal of the Obligor, or a facsimile thereof, has been impressed or imprinted on all of said obligations; and that on the date of the execution of said obligations and on the date set forth below, we were and are the duly chosen, qualified and acting officers indi- cated therein and on this certificate and duly authorized to execute said obligations. That on the date of this certificate, said obligations were actually delivered to the purchaser thereof against receipt of the purchase price as follows: Principal (par value): $ 113'0"'1 •,3 Premium: $ - !~- Accrued interest from date of said obligations to date of delivery: $ TOTAL: $ 13 p'1� '3• WrrNEss our official signatures the 5ptli day of naYc1i , 1976 , being the date of the actual delivery of said obligations, as aforesaid. Signature Official Title Term of Office Expires cf f vs.:I*a arisor 1.2/31./77 '1gcr. n Clerk 12/31/77 I hereby certify that the signatures of the officers above subscribed are true and genuine. Valley Bank of Naw York ........................................... f" (NAME OF BANK) ........... 1 21'�Rlf$ +SUR '� d9LIPresi.l ent t'lR`!: 5819-G Supervisor DU Itlttt.'13Y CI'It'i'].t X that- 1 tarn an Off- icerc�7 � the Town -OoutTio�d '- --' -- �f€o�k_--Go JA _ _ - IJci;�Z'or.K , c larc�c` , ,-Ifl ot:hc:•rs�--`�� tf1 L:! �` -- -l--1--_ --------- --_ --` e reJ�llJIIJ�.btl_i ty Or i_ssu%ng the-- - ----�-►-�-0•--Band_-Ant,ici,p�tipn_-I�Ia�e�12Z�_�>�newal � --_ - t:rzat on thei ------- --- -- --- c Z.• OJ: t:i1n .fc-2CtS , e`>t:lr:lclt;E S �lI1E� `— C:1rCL1T11Si.<.:I:C(_':i r - t1zIt. the i:otC • forth , it is not expcctcd (.�) t•zi-1.1 Corl:;titut:e �;rbi�.r<<cIc" bonds" within the Meaning of - Soct:i_on 103 (d) of the Interna). Revenue Ccc?c of 3tc jUl.ati_ons PI.-c� 1.954 ar.cl the ap �tic�tble � F �cr_�.bc_cI by tlzc Secrc t_ary* of the Treasury r � under (}lcreinafter collective "Code") called the "Code") _ 1 �' -ornu_gatcd tiler.- In issuing this certification , I h I : c> relied on the folioring facts esti;ilates and circumstances : 1- Tile Note (s) �-:ill be i__sued oz� t-he purpose of renes-:i.n M }-976LL,--- for g (in part) a prior issu cof bona an ici_paL-zon (renc-aal ) notes maturing on is/are -issued in anticipatiozi o£ f_�z �,Sl,ce o� -' 2976 _ The 2lota(s) authorized? for a c o�, , - ser_ial Worlds duly e nmen'_Z;l purpose, to vzit,to pay pa34 of the cost of the accruisition of certain real property in and for -the Matt�.tuc Park District in said Town (t:IC "Project") . `line r:o )gill zea Lure on —, which time they will be renc:•:ed by �4 � Mareh A , -1977 at subseg2Jer1t issue of bond renewal notes , or serial boJ2d5 r�111 be 1SSl1Cd t0 , c-tnti.Ci.paLior1 financing of the Project or � � r � provide the lonrJ ter,;l } the i\o�e (s) o� a part thereof .Will be paid fro:a a source other than the proceeds_ of such bonds or notes_ 2. A substantial binding obligation in the form of contract vias entered into on _ a - - _January 24F. 1973 - 3. .The principal a.m.ount - of this issue of Ilot principal amounts of all - other notes issue (s) ' t=ogether -with the Undor present estimates, thE? rnarir:���m isti_�;la__for .the Project, is $ 24,000 $ 24,000 �4� cost of tinct- Project yr .L1 toe -_ Por purposes of "Maxirnurn estimated _cosi means tilep�otal Ythistcer_ tifi_cate, the term C t - (. _ to be expended on the Project �PrOJec` cost reduced by any arlount from sources other than bonds or. notes_ 4 . _ 100$ _ per dein' of the "spendable proceeds" (as 'ciefilied in the Code} 01 the Note. (s) have b-•on C>cp ended XXXXXX7(XX X X XXXXk9d :within the three-year period v1}1i ch began first issue of bond anticipation rotes of which on tile orate of issue .O.L the newal- the rote (s)(s) is/are a re- : 5. `.fhe Project. (is completed 1d3tb CXXXX=XXX ) XXXXXXX1XXXX) X.X-X= N&X �X�C�7t�X XX=M= To the best of my }cno�.,ledc;e and belie?, there are no other facts , - £'Si zr^ :tCS Or C12Clii�2St_clnces �In1G}l j,0111U ? l - �er_ia_ly change the expectations Set_ forth in this certificate. - `a'}pis Certificate is executed as =--' of ire date of issue o_F - - e. , the c?�.tc "o l delivery of t}ze i•;ote the Note ( )(s) in exchange for the �- i,s_,ue price) -. . III S;J `�' Ir,SS V,11J ;REOP, I have hereunto se' Y _d r , hazlcand t}Ic seal of 197 -Q n of_ S�ld_� _ " this 5th day of March - ( S E A- L ) Supervisor 5819-4 PK BOND ANTICIPATION RMUML NOTE CERTIFICATE DATED MARCR, 4, 1977. DEPUTY CERTIFICATE OF THE ASU"RVISok OF 'H Tt?WR OF dOMoLDt SUFFOLK COUNTY# "NEW" YORK# AUTOORIZING THE 'ISSUhRCE or A $6#000 BOND ANTICIPATION REAL NOTE QIP' HA►I'b T TO PAY PART QP, TRE COST OF THE ACQUISITION. Or.. CRRTAXN -PROPERTY '19 AN FOR THr` MhTTIT TCR PARR tl%STR!C*r TN SAID TOWI+L. I, the undeeni gnedpPiwkVitor of the 'fawn of southold, $uffolk County, NOW York, 60 HEREBY CERTIFY ],. Pursuant to a ,bond resolution dated January 230 1971, duly ad+epteed by. tbo,,Town hoard of said Town on said date# authorisineg they issuance of $Z4;,Aa4 serial bonds of said Torun to pay the coat of the"acqu sttibn of 'certain real property in aAd for the Mottituck .Park jistriat, including incidental :expense!90, which.;ins asi ,4*86asabls improvemsnt, and delegating to me. ,as chief fiscal officer weer; to authorize the issuance of and to so l bood anticipation notes, including renewals thereof, in anticipation of tete issuance {and `sal* of said bends, wr ich power is in full furca and effect,,' and:hqs ,ne tt been jt6difiedt amended or revoked# I TW."St A13THOR1 Z the issuah of; a band anticipation renewal note of said Tgwn in the `priAcipal &mdIunt of $6,000 in anticipation of the sale ,of said bona*4 said' nate tall be dated March 4, 1977, shall be numbered 4-R, .shall be tat' the denomination of $60,000, shall bear interest at ti is rhte,of -blinared1h& per ceantux { per annual, Vayabiq 4t,_x*tu1iityv shall mature on March. 30 1978, and, , 6th principal of and interest on said :note . shall pawyable in lawful ameey of the United 'states of America at .Tl .R...rijj di.New . Y0r}c , ',Sn r,. Greenport , 'New Yolk. Such Rote is a renewal note. T 2.' ::,This eo'+eoific object or pu"se for which-said note' is w 2aereby authorised to be .issued is to ,r"Sw, in pa��,, the ,,outstanding �ltirwdv bond Anticipation Note# 1976 (Renewal) , dated Oagoh 50 "19760 Aum A od,3**R, and matug-tio g fresh 4, 1971' The balan0jiv of .soid. o t4oj* ng `note'# in the amount of $4,1100 will be paid, from asource other than the proceeds of the bonds ,or' bond anticipatl6h notes* and such amount, shall con°stitute the fourth instoltment', this principal amount of such indebtedness..', The apaqAmt of 404 41 bonds now to be issued therefor `3.e $6;0`00, 3. No other bond anticipation notes are prtiv, oc tst knd q y in anticipation of they sale of said bonds, The date' ofy ttiett bond anticipation note issued in anticipetioaof the `sal bonds was March 8, 1973. 4. Such renewal note *hall be a"' cured; in the. "me 6f said.` Dputy Town of Southoldr Now York, 'by `its Superdiscar; . saRaled wth' is cotpate Deputy seal, attadtted by its Ai4 hmM Clerk, and -the► am m- eh#ll ba ,ls posta6tiall h the form attached hereto. Such note is hereby 06 d at pria'at�s The Bank of New Yorkto Greenport • Mew York, at a P' ice of not less than pas, and a ac 40-,., ,ntwr"t r any. To the best of my knowledge and belief, no ofTicir eplOyetO of said Town has an interest in the sale of said n6to, proh blt by Article 18 of the General Municipal Iaw, kas amie� de.40 Dateds• Southold, New York, ; March 4, 19'7?. Upex'il` ® x• An executed counterpart of .the forogoinq, ce�rt�f ate� '°ta►it� f6rm of nota attached, was filed with the Tout Bdo td of "1&-4,TOW, '40f Southold# New York, this 4th day of March,. 1977 ' ecleric, (S E A L) x r UNITED STATES OF AMERICA STATE OF NEW YORK COMMY Or StlrrOL ' 140 ANTICIPATION NOW* 1917 (rt L) No. 4-41 $ 6,000 'aha Town of Southold* in the County of tuff calk, a of the State of New York (herein called the "Obligor"), hereby acknowledges itself indebted and for value received promises to pay to the bearer of this note, or if it be registered, to the registered holder, the sum o f SIX THOIJ&AND 00LLhR8 � j, # 0 0 on the day re� n. ,&I. ;iA0whutether with interest thereon from tfiVgf#te hereof at the rate of per centum )per annum,payable at maturity. Botl izc�W c i �is note will be paid in laawe ,wful mor ��ted States of America at r "This :accordance note may be redeemed prior to ity an r gistered o with the ap- plicable provisions stated on the reverse sid eo , wh' re hereby ma e a part of this note. This note is one of total authorized issue 6*000issuedppursuant to proceedings duly adopted by the ce d of t e O r o January 23, 1973,E and pursuant to; , C �*��s. �a�r�#mea .>}� �'�a pxcx?,r "Ip TI X Blit',WAL X40TZ Or SAID TOWN 1`0 PAY k4RT Or T v° T1011 Of 0 RTAI - 1119AL PROPP-`TfY rl 14N It°'��3 i l IT A q s S 791T IN 1ATT)T) '"'OWN.,err The faith and credit of the Obligor are hereby irrevocably pledged for the punctual payment of the principal of and interest on this note according to its terms. It is 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 note, exist, have happened and have been performed, and that this note, together with all other indebtedness of the Obligor is within every debt and other limit prescribed by the Constitution and laws of such State. IN WITNESS WHEREOF, the Obligor, in accordance with the proceedings authorizing this note, has caused this note to be signed and its corpor�t�e� eal to be hereunto af&e� nd atteste , s appears below, and this note to be dated as of the day of , 19 TowTowbi or ()"1'vlow p Sur? ? y C"C►u'�"3°y} nrw !Rona upery oor ATTEST: 060G WFG S-79 6M 1-77 PP Provisions for redemption of this note prior to maturity: *out w Ix 04 MD v' O W . e4 4W it W Z H ' w 0 1► a OK W C Ir M 40 Z ?9.1 D Provisions for the registration of this note: MOM REGISTRATION CERTIFICATE It is hereby certified that the within note has been registered as follows: Date Of Registration Name of Registered Holder Registered by WILLKIE FARR & GALLAGHER (SYKES,GALLOWAY&DIKEMAN) ATTORNEYS AND COUNSELLORS AT LAW 120 BROADWAY NEW YORK,N.Y.10008 Tivoing (Urfifiratr We,the undersigned do hereby certify: That we are the officers of the Town of Southold, Suffolk County, New York (hereinafter called the "Obligor") indicated by the official title set opposite our respective signatures to this certificate. That we did officially execute$ 6,000 Bond Anticipation Note, 1977 (Renewal) of said Obligor, denomination of $ 6g,000 dated March 4 1977 , interest 3.09 % per annum, and being numbered and payable as follows: Numbered 4—R and maturing March 3, 1978. That no litigation of any nature is now pending or, to our knowledge, threatened (a) to restrain or enjoin the issuance or delivery of said obligations or the levy and collection of taxes or assessments to pay the same, (b) in any manner questioning or affecting, directly or indirectly, the validity of said obligations or the proceedings or authority for the issuance thereof, or (c) contesting the corporate existence or boundaries of the Obligor or the title of the undersigned officers to their respective offices; that no authority or proceedings for the issuance of said obligations has been repealed, revoked or rescinded; that the corporate seal of the Obligor, or a facsimile thereof, has been impressed or imprinted on all of said obligations; and that on the date of the execution of said obligations and on the date set forth below, we were and are the duly chosen, qualified and acting officers indi- cated therein and on this certificate and duly authorized to execute said obligations. That on the date of this certificate, said obligations were actually delivered to the purchaser thereof against receipt of the purchase price as follows: Principal (par value): $ 6r000.00 Premium: $ —0— Accrued interest from date of said obligations to date of delivery: $ —0— TOTAL: 0— TOTAL: $ 60000.00 Whwms our official signatures the 4th day of March , 19 77 , being the date of the actual delivery of said obligations, as aforesaid. Signature Official Title Term of Office Expires eputy Supervisor 12/31/77 n Deputy Town Clerk 12/31/77 I hereby certify that the signatures of the officers above subscribed are true and genuine. The,.Hank of New York (NAME OF BANK) Y. i (SIGNA ATUR REppA�� TITLE) Donald Deale, iV ce Pres. ARBITRAGE CERTIFICATE. BOND .ANTICIPATION Rr',gr'AL NOTT'5 D putt' I. the undersignecY Supervisor of the Toi-m of Southold, Suffolk County, New York, DO HEREBY CERTIFY: 1. On the basis of the facts, estimates and circumstances herein set forth it is expected that the $6,000 Bond Anticipation Note, 1977 (Renewal) of said Town, dated March 4, 1977 and maturing March 3, 1,978 ("Note") (as more fully descp*$gjyin a Bond Anticipation Renewal Note Certificate of the undersigned supervisor dated March 4, 1977 authorizing the issuance of said Note) will not constitute an "arbitrage bond" within the meaning of Section 1O3 (c) of the Internal Revenue Code of 1954, as amended, and the applicable Regulations promulgated thereunder. 2. The Note is sold at a price of par without premium and is issued to refund in part a prior $10,000 bond anticipation note ("Prior Note") . Said Prior Note will be retired on the date of issue of the Note, all of the proceeds of the Note being expended therefor. 3. Since all of the proceeds of the Prior dote have been expended for the governmental purposes for which said Prior Note was issuedand all of the proceeds of the dote will be expended on the date of issue of the Note, none of the proceeds of the� Note will be available to hold or to acquire obligations after said date. To the best of my knowledge and belief, there are no facts, estimates or circumstances which would materially chance the ex— pectations set forth herein. IN WITNESS WHEREOF, I have hereunto set my hand and the seal of said Town of Southold, New York, this 4th day of March, 1977. Deput7 Supervisor ' ( S E A L ) .:,r-,d 1 N.Y.B.T.U.Form 8041 .9-'2-i0`.t—Contract of Sale. ♦�. �I ti14 i3ULT YOUR '*WYER isiiFORf SIGNING TW'. JM5TRU,'41zA1`.—"rH1SrN57:RUMENT SHOUL.) ,.�JSED BY LAWYiERS ONLY. r �; INOTE. FIRE LOSSES. This form of contract contains no ext ress provision as to risk of loss by fire or other casualty before delivery of the deed. Unless express provision is made, 'ie provisions of Sectioi 5 's 311 of the General Obligations Law will apply. This section also places risk of los upon put -,.,ser if title or posres,ion is transferred prior to closing. I i T� S AGREEMENT, made the day of November , nineteen hundred and seventy two BETWEEN ANDREW McDOWELL , residing at R.D. # 85 , Roses Grove Knolls , Southampton, New York , as Administrator of the Estate of Julia Schwicker ii i i hereinafter described as the seller, and MATTITUCK PARK DISTRICT, a municipal corporation with office and principal place of business at Main Road (no number) , Mattituck, I Town of Southold , Suffolk County , New York, hereinafter described as the purchaser, WITNESSETH, that the seller agrees to sell and convey, and the purchaser agrees to purchase, all that certain plot, piece or parcel of land,M&VX%Y'itMfi*XaYdL i36 'fx l sYt i e X-AX4`1 Ksituate, lying and being)eWili�- at Mattituck, in the Town of Southold, County of Suffolk and State of New York, and bounded and described as follows : BEGINNING at a concrete monument set on the southerly line of Main Road at the northwesterly corner of land of Mattituck School District; running thence along said land of Mattituck School District , five courses , as follows : (1) South 330 29 ' 00" East 184. 00 feet to a concrete monument ; thence (2) South 57° 261 00" East 141 . 8 feet to a post ; thence (3) North 860 011 00" East 105 . 55 feet to a pipe ; thence (4) North 720 09 ' 00" East 69. 55 feet to a pipe ; thence (S) South 810 36 ' 0011 East 120 . 4 feet to a pipe at the shore of Marratooka i Lake ; thence southerly along the shore of said Marratooka Lake about 245 feet to land of John P71ko ; thence along said land of John Pylko , I` South 880 32 ' 00" West about 500 feet to land conveyed or about to be conveyed by the party of the first part to Ralph Cox; thence along the last described land, North 150 071 20" West 412 . 29 feet to a stake set on the southerly line of Main Road; thence along said southerly line of Main Road North 570 441 40" East 141. 2 feet to the point of I beginning. Premises are described in deed dated July 25 , 1945 and recorded in i the Suffolk County Clerk' s Office in Liber 2481 of Deeds Page 458. l� I! �I II u Ii j Suer simultaneously herewith has delivered to purchaser' s attDrney a copy of survey designated "INlap of Land Surveyed for Al F. Schwicker, situate at Mattituck, Suffolk County, New York" SUBJECT to any state II of facts which an accurate survey might d .scicse since the time of �i said survey provided sane does not render title unmarketable . I' l i sal: iviclude; ali l., t, ntic and interest, i`r any, of the seller in aiiI to any lantiLlying is the heti of ariy street, road or i OD,ried or rropo,td, in. c:cnt of or a�](ani41,'-' saidl piern:�ei, iJ t... t:iltZr 1111 i[t�:PO Y. and all .'.��lt, title and Bite?;est i:iier In and to lily ?-,�art� :la•'-t::. Or i0 i? Ill i3�]e In lieu tfl::'iC'Of a''.:l and i0 any url;?aid all�ard for damd:ye t0 paid by reason of fn n,; of jrade cf ails/ slr^',; and the-sell'°r wv l C ._..tea'- ani ,.'_liver t0 tit2 on do>uig of Or thereafter, 0:1 dG: i ,-1, (:�l j�r�t7:;:- ].^.:.tiUC,.au iCi 01,2 conv;-V1P.CC or. -..:it tia'., 31Kj 1i..,�n lnCil: and CC?il..l-t:Qa Of 1 ii l '. the prices Twenty three thousand (�23 000 . 00) -- - - -- --- --- ------ -- - -- --- - ------ --- -- ---- --- - Dollars, payable as follows: 11Two thousand three hundred ($2 ,300. 00) ------------------------ Dollars, on the signing of this contract, by check subject to collection, the receipt of which is hereby acknowledged; �j Twenty thousand seven hundred ($20 , 700 . 00) ----- -- ---------- --- - Dollars, in cash or good certified check to the order of the seller on the delivery of the deed as hereinafter provided; I by taking title su o o rate of per cent per annum, the principal being due and payable Dollars, by the purchaser or assigns executing, acknowledging and delivering to the seller a bond or, at the optio of the seller, a note secured by a purchase money mortgage on the above premises, in that amount, paya . i I - I together with interest the rate of per cent per annum payable 3. Any bond or note-and mortgage to be given hereunder shall drawn on the standard forms of New York Board of Title Underwriters for mortgages of like lien; and shall be draN by the attorney for the seller at the expense of the purchaser, who shall also pay, the mortgage recording tax and recor g fees. 4. If such purchase money mortgage is to be a subor nate mortgage on the premises it shall provide that it shall be subject and subordinate to the lien of the existing mortgage of $ , any extensions thereof and to any mortgage or consolidated ortgage which may be placed on the premises in lieu thereof, and to any extensions thereof provided (a) that the inte st rate thereof shall not be greater than per cent per annum and (b) I that; if the principal amount thereof sha exceed the amount of principal owing and unpaid on said existing mortgage at the time of placing such nein mortga or consolidated mortgage, the excess be paid to the holder of such purchase money I mortgage in reduction of the pnnci al thereof. Such purchase money mortgage shall also provide that such payment to the holder thereof shall not alter o affect the regular installments,-if any, of principal payable thereunder and shall further provide that the holder,there will, on demand and without charge therefor, execute, acknowledge and deliver any agree- ment or agreements further o effectuate such subordination- 5. 5. If there be a mortg e on the premises the seller agrees to deliver to the purchaser at the time of delivery of the deed a proper certificate executed d acknowledged by the holder of such mortgage and in form for recording, certifying as to the amount of the unpaid pr' ipal and interest thereon, date of maturity thereof-and rate of interest thereon, and the seller shall pay the fees for recor g such certificate. Should the mortgagee be a bank or other institution as defined in Section 274-a, Real 1 Property , the mortgagee may, in lieu of the said certificate,'furnish a letter signed by a duly authorized officer, or em- ployee, agent, containing the information required to be set forth in said certificate. Seller represents that such mortgage Will be in default at or as a result of the delivery of the deed hereunder and that neither said mortgage,nor any modification thrxeof contains any provision to accelerate payment, or to change any of the other terms or provisions thereof by reason of the c -U--ery ;f the deed hevawidar 6. Said premises are sold and are to be conveyed subject to: a. Zoning regulations and ordinances of the city, .town or village in which the premises lie which are not violated by existing structures. b. Consents by the seller or any former owner of premises for the erection of any structure or structures on, under or above any street or streets on which said premises may abut. c. Encroachments of stoops, areas, cellar steps, trim and cornices, if any, upon any street or highway. 1 I� I� it �i 7. All notes or notices of violations of law or municipal ordinances, orders or requirements noted in or issued by the Depart- 11 nntnts of Housing and Buildings, Fire, Labor; Health, or other State or Municipal Department having jurisdiction, against ar a.$zcting the premises at the date hereof, shall be complied with by the seller and the premises shall ,be conveyed free of i the, seine, and this provision of this contract shall survive delivery of the deed hereunder. The seller shall furnish the purchaser iv 'i an authorization to make the necessary searches therefor. �StiGit23C_ _ _ _ 1 tin 1 Loc _t I; t}:� City of New York (Sections 564-18.0, etc.) prior to the delivery of the deed shall be paida ra ecTby the seller p ur,ni the delivery of the deed. This provision shall survive the delivery of the de 9 if, at the time of the delivery of the deed, the premises or ereof shall be or shall have been affected by an assess- ",us,9 is ;, , or assessments which are or may be -e in annual installments, of which the first installment is then a charge fl. e! ' o n, or has been pain, thea -+lZe purposes of this contract all the unpaid installments of any such assessment, including tl ose which ar �e due and payable after the delivery of the deed, shall be deemed to be due and payable and of '� upgn , t,L'""� .._ .00r-ioned: 1. If the closing of the title shall, occur before the tax,rale is fixed, the apportionment of taxes shall be upon the basis of the tax rate for the next preceding year applied to the latest assessed valuation. iI 12:-If tl eie l `a-cva'torrTeter orrtlTcpizmiarrtlTc sellerslral�-ft+rrlra-reaeling �layre to-:lle o ` 41e.tip��PPJ - 13. The deed shall be the usual Adm in i s t r at o r' s deed in proper statutory short form for record and shall be duly executed and acknowledged so as to convey to the purchaser jthe fee simple of the said premises, free of all encumbrances, except as herein stated, and shall contain the covenant required by {i subdivision 5 of Section 13 of the Lien Law. ll, Ifs. isj - - - f its Board of Directors authorizing the sale and delivery of the deed, and a cert' any or ssistant Secretary of the corporation certifying such resolution ands sowing that the conveyance is in conformity with the 11 requirements of Se r usnless orporation Law. The deed in such case shall contain a recital sufficient to }. 14. At the closing of the title the seller shall deliver to the purchaser a certified check to the order of the recording officer of the county in which the deed is to be recorded for the amount of the documentary stamps to be affixed thereto in accordance i with Article 31 of the Tax Law, and a certified check to the order of the appropriate county officer for any other tax payable � by reason of the delivery of the deed, and a return, if any be required, duly signed and sworn to by the seller; and the i ourchaser also agrees to sign and swear to the return and to cause the check and the return to be delivered to the appro- !% priate county officer promptly after the closing of title. Umit �� i 3:--I , _ Clause 15 i -if, ;,� , the property i� istrator for the amount of the Real Property Transfer Tax imposed by Title II of Ch ' amimstrative Code of is not y of the City of New York and will also deliver to the purch • ir ue y.the said statute and the regulations issued Nmv York. ! pursuant to the authorit a an sworn to by the seller; the purchaser agrees to sign and swear to the { 15. The seller shall give and the purchaser shall accept a title such as all y title company with offices at Riverhead, N.Y. a Member of the New York Board of Title Underwriters, will approve and insure. { 17. All sums paid on account of this contract, and the reasonable expenses of the examination of the title to said premises and of the survey, if any, made in connection therewith are hereby made liens on said premises, but such liens shall not continue j after default by the purchaser under this contract. IC- _ jj sented to be owned by the seller, free from all liens and encumbrances except as herein stated ud`e3 in this sale; without limiting the generality of the foregoing, such fixtures and sona7 property include plumbing, heating, lighting and cooking fixtures, air conditions a units, ranges, refrigerators, radio and television aerials, bathroom and kitchen cabinets r mirrors, venetian blinds, shades, screens, awnings, storm windows, window boxes, storm �I , 19. The amount of any unpaid taxes,assessments,water charges and sewer rents which the seller is obligated to pay and dis- i charge, with the interest and penalties thereon to a date not less than two business days after the date of closing title, may at the !i option of the seller be allowed to the purchaser out of the balance of the purchase price, provided official bills therefor with interest and penalties thereon figured to said date are furnished by the seller at the closing. 20. If at the date of closing there may be any other liens or encumbrances which the seller is obligated to pay and discharge, j the seller may use any portion of the balance of the purchase price to satisfy the same, provided the seller shall simultaneously �I either deliver to the purchaser at the closing of title instruments in recordable form and sufficient to satisfy such liens and en-cumbrances of record together with the cost of recording or filing said instruments; or, provided that the seller has made arrangements with the title company employed by the purchaser in advance of closing, seller will deposit with said company i; sufficient monies, acceptable to and required by it to insure obtaining and the recording of such satisfactions and the issuance u of title insurance to the purchaser either free of any such liens and encumbrances, or with insurance against enforcement of some out of the insured premises. The purchaser, if request is made within a reasonable time prior to the date of closing of title, agrees to provide at the closing separate certified checks as requested, aggregating the amount of the balance of the i purchase price, to facilitate the satisfaction of any such liens or encumbrances. The existence of any such taxes or other liens i ;and encumbrances shall not be deemed objections to tide if the seller shall comply with the foregoing requirements. ' 21. If a search of the title discloses judgments, bankruptcies or other returns against other persons having names the same as or { si.mliar to that of the seller, the seller will on request deliver to the purchaser an affidavit showing that such judgments, bank- ruptcies or other returns are not against the seller. 22. In the event that the seller is unable to convey title in accordance with the terms of this contract, the sole liability of the seller be to refund to the purchaser the amount paid on account of the purchase price and to pay the net cost of examining the whicl1 cost is not to exceed the charges fixed by the New York Board of Title Underwriters, and flee net cost of any { survey made in connection therewith incurred by the purchaser, and upon such refund and payment being made this contract �i shall be considered canceled. ;! 23. The deed shall be delivered upon the receipt of said payments at the office of Anderson , Maggipinto , laughn G O' Brien, �Tain St. , Sag Harbor N.Y. j at 1 A.INI, o'clock on December 19 72. David Gillespie Of, East za4ariis the broker who 2-4. The parties agree that on NY . . b:ougbt about this sale and the seller agrees to pay any commission earned thereby. 25. s is understood and a;r-ced that all understandings and agreements n£retafore had between the parties hereto are merged is t its contract, which alone fully and completely expresses their agreement, and that the same is entered into after full investi- aticn, neither party relying upon any staterrient or representation, not embodied ill this contract, made by t1n, other. The purchaser has inspected the buildings standing on said premises and is thoroughly acquainted with their condition and agrees to ,e titl "as is" and in their present condition and subject to reasonable use. -,,;ear, tear, and natural deterioration between the date thereof and t'ne closing of title. .`3. -f'his agreement may i,ct be chang d or terminated orally, The stipulations aforesaid are to apply to and bind the heirs, administrators, successors and assigns of Litt respective parties. i If two or more p£rsar.s const;tute either the seller or the p,irc.,aser, irie ~vord "seller 3r the word "purchaser" s�.alt, ue ;esti ie+1 as if it read "sellers" or "purchasers" ti nene>er the sense of this agrc=ent so regtutes. IN E-REOF this agreem£n`� 1115 been (l::ly ex cnteJk by ith-� part; 3 T ereto. ill presence of: as Administrator of L1.hi., state o.'—. i iu_.:i.a S c h .tI C K e r T)— "STT L1S _ u IYI F. SCHWIC HZER 0 `S uF-F-o1 ,�r avn� _ Man. _40N, ` i a #: ".�, „ , r{ ' , {�.- s - n r r Y 1 *i" �i411 , 1� y K - Y