Loading...
HomeMy WebLinkAboutStreet Sweeper (2)t NORTH FOR1< LANK The North Fork Bank & Trust Co. Subsidiary o/ North Fork Bancorporation, Inc. Home Office: Mattituck, New York 11952 June 11, 1990 RECEIVED JUN 12 1990 Town of Southold c„•,~t,,,�,� r...._ ,.,_�� Town Hall Main Road Southold, New York 11971 Gentlemen: Enclosec please find paid $15,800.00 Bond Anticipation Note No. 4R-1 @6.60%, dated June 9, 1989, matured June 8, 1990. Please acknowledge receipt of the above by signing and returning the enclosed copy of this letter. Thank you. Very truly yours, t`A' • Irene ackow i Assistant Vice President ij Encs. SECURITY•COLUMBIAN BANKNOTE COMPANY REGISTRATION CERTIFICATE It is hereby certified that the within Note has been registered as follows: CERTIFICATE OF DETERMINATION BY THE SUPERVISOR RELATIVE TO AUTHORIZATION, SALE, ISSUANCE, FORM AND CONTENTS OF A $15,800 BOND ANTICIPATION NOTE FOR STREET SWEEPER -1989 OF THE TOWN OF SOUTHOLD, NEW YORK. I, Francis J. Murphy, Supervisor of the Town of Southold, New York (herein called the "Town"), HEREBY CERTIFY that pursuant to the powers and duties delegated to me, the chief fiscal officer of the Town, by the Town Board of the Town, pursuant to the resolution duly adopted and as referred to in paragraph 1 hereof, and subject to the limitations prescribed in said resolution, I have made the following determinations: 1. A bond anticipation note (the "Note") of the Town in the principal amount of $15,800 shall be issued in anticipation of the sale of serial bonds authorized pursuant to the resolution entitled: "Bond Resolution of the Town of Southold, New York, adopted March 8, 1985 and amended April 23, 1985, authorizing (a) acquisition of a new diesel powered mobile road sweeper, and (b) trade-in of the 1974 road sweeper owned by the Town and application of the $2,000 trade-in value towards the cost of such mobile road sweeper for use by the Town, stating the estimated maximum cost thereof is $85,000, appropriating said amount therefor, and authorizing the issuance of $83,000 serial bonds of said Town to finance said appropriation," duly adopted by the Town Board on the date therein referred to. 2. The terms, form and details of said Note shall be as follows: Amount and Title: $15,800 Bond Anticipation Note for Street Sweeper -1989 Dated: Matures: Number and Denomination: Interest Rate per annum: June 9, 1989 June 8, 1990 Number 4R-1, at $15,800 6.60% Form of Note: Substantially in accordance with form prescribed by Schedule B, 2 of the Local Finance Law of the State of New York. 3. Said Note is issued to renew, in part., a note or notes in the amount of $31,600 maturing on June 9, 1989, the redemption thereof having been provided to the extent of $15,800 from a source other than the proceeds of serial bonds. 4. The amount of bond anticipation notes originally issued in anticipation of the issuance of serial bonds authorized pursuant to the resolution referred to in paragraph 1 hereof, including the Note, is $79,000, and the amount of bond anticipation notes which will be outstanding after the issuance of the Note, including said Note will be $15,800. 5. The serial bonds authorized pursuant to the resolution referred to in paragraph 1 hereof are for an improvement which is non -assessable. 6. Pursuant to said powers and duties delegated to me, I DO HEREBY AWARD AND SELL said Note as follows: to The North Fork Bank & Trust Company, Southold, New York, for the purchase price of $15,800, plus accrued interest, if any, from the date of said Note to the date of delivery thereof, and I FURTHER DETERMINE that said Note shall be payable as to both principal and interest at The North Fork Bank & Trust Company, Southold, New York, and shall bear interest at the rate of six and sixty hundredths per centum (6.60$) per annum, payable at maturity. 7. Said Note shall be executed in the name of the Town by its Supervisor and the corporate seal of the Town shall be affixed thereto and attested by its Town Clerk. I HEREBY FURTHER CERTIFY that the powers and duties delegated to me to issue and sell the Note hereinabove referred to are in full force and effect and have not been modified, amended or revoked. IN WITNESS WHEREOF; I have hereunto set my hand this ninth day of June, 1989. CLERK'S CERTIFICATE I, Judith T. Terry, Town Clerk of the Town of Southold, in the County of Suffolk, New York, HEREBY CERTIFY that I have compared the foregoing copy of the Certificate of Determination executed by the Supervisor and the same is a true and complete copy of the Certificate filed with said Town in my office as Town Clerk on the ninth day of June, 1989; and I FURTHER CERTIFY that no resolution electing to reassume any of the powers or duties mentioned in said Certificate and delegated to the Supervisor by the resolution cited in said Certificate has been adopted by said Town Board. (SEAL) IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of said Town this ninth day of June, 1989. Town Clerk L AFFIDAVIT AS TO NO CONFLICT OF INTEREST STATE OF NEW YORK :ss: COUNTY OF SUFFOLK Judith T. Terry, being duly sworn upon his/her oath deposes and says: (1) I am the duly appointed, qualified and acting Town Clerk of the Town of Southold, in the County of Suffolk, New York (herein and in Schedule A annexed hereto called "Town"); (2) That with respect to the contract of sale of the Note of the Town described in the Certificate of Determination executed by the Supervisor on the ninth day of June, 1989, to the financial institution indicated in such Certificate, I have made a careful inquiry of each officer and employee of the Town having the power or duty to (a) negotiate, prepare, authorize or approve the contract or authorize or approve payment thereunder, (b) audit bills or claims under the contract, or (c) appoint an officer or employee who has any of the powers or duties set forth above, as to whether or not such officer or employee has an interest (as defined pursuant to Article 18 of the General Municipal Law) in such contract; (3) That upon information and belief, as a result of such inquiry, no such officer or employee has any such interest in said contract unless otherwise noted in Schedule A annexed hereto and by this reference made a part hereof. Subscribed and sworn to before me this ninth day of June, 1989. r I Y� �' J, & OZ. 1, )/,) Notaq Public, State f New York ELIZABETH ANN NEVILLE Notary Public, State of New York No. 52-8125850, Suffolk County Term Expires October 31,19_X2- Town Clerk j s • SCHEDULE A 1. , is a stockholder of the Purchaser owning or controlling, directly or indirectly, less than five per centum (5%) of the outstanding stock thereof but no disclosure of such interest by said officer is required pursuant to said Law. 2. , has an interest in the Purchaser solely by reason of employment as an officer or employee thereof, but the remuneration of such employment will not be directly affected as a result of said contract and the duties of such employment do not directly involve the procurement, preparation or performance of any such part of such contract. 3. , has publicly disclosed the nature and extent of such interest in writing to the governing board of the Town. Such written disclosure has been made a part of and set forth in the official record of proceedings of the Town. CERTIFICATES AS TO SIGNATURES, LITIGATION, AND DELIVERY AND PAYMENT WE, the undersigned officers of the Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York and herein referred to as the "Town", HEREBY CERTIFY, that on or before June 9, 1989, we officially signed and properly executed by manual signatures a $15,800 Bond Anticipation Note for Street Sweeper -1989 (the "Note") of the Town, payable to bearer and otherwise described in Schedule A annexed hereto and by this reference made a part hereof, and that at the time of such signing and execution and on the date hereof we were and are the duly chosen, qualified and acting officers of the Town authorized to execute said Note and holding the respective offices indicated by the titles set opposite our signatures hereto for terms expiring on the respective dates set opposite such titles. WE FURTHER CERTIFY that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of said Note or the levy or collection of any taxes to pay the interest on or principal of said Note, or in any manner questioning the authority or proceedings for the issuance of said Note or for the levy or collection of said taxes, or relating to said Note or affecting the validity thereof or the levy or collection of said taxes, that neither the corporate existence or boundaries of the Town nor the title of any of the present officers thereof to their respective offices is being contested, and that no authority or proceedings for the issuance of said Note has or have been repealed, revoked or rescinded. WE FURTHER CERTIFY that the seal which is impressed upon this certificate has been affixed, impressed, imprinted or otherwise reproduced upon said Note and is the legally adopted, proper and only official corporate seal of the Town. And, I, Francis J. Murphy, Supervisor, HEREBY FURTHER CERTIFY that on June 9, 1989, I delivered said Note to The North Fork Bank & Trust Company, Southold, New York, the purchaser thereof, and that at the time of such delivery of said Note, I received from said purchaser the amount hereinbelow stated, in full payment for said Note, computed as follows: Price ............................... $15,800 Interest on said Note accrued to the date of such delivery ............. -0- Amount Received ..................... $15,800 (SEAL) IN WITNESS WHEREOF, we have hereunto set our hands and said corporate seal has hereunto been affixed this ninth day of June, 1989. 0 Term of Office Expires Title ..... December 31, 1989 Supervisor December 31, 1989 Town Clerk I HEREBY CERTIFY that the signatures of the officers of the above-named Town, which appear above, are true and genuine and that I know said officers and know them to hold the respective offices set opposite their signatures. `�� pp } f' ((� f K01i��� I' iut LFii K & 11tVl Signa re Titl o Bank 0 0 ATTORNEY'S CERTIFICATE I, James Schondebare, HEREBY CERTIFY that I am a licensed attorney at law of the State of New York, having offices at 53095 Main Road, Southold, New York, and am the duly chosen, qualified and acting Town Attorney of the Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York and herein referred to as the "Town", that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of the Note of the Town, payable to bearer and otherwise described as set forth in Schedule A annexed hereto and by this reference made a part hereof or the levy or collection of any taxes to pay the interest on or principal of said Note, or in any manner questioning the authority or proceedings for the issuance of said Note or for the levy or collection of said taxes, or relating to said Note or affecting the validity thereof or the levy or collection of said taxes, that neither the corporate existence or boundaries of the Town nor the title of any of the present officers thereof to their respective offices is being contested, and that no authority or proceedings for the issuance of said Note has or have been repealed, revoked or rescinded. IN WITNESS WHEREOF, I have hereunto set my hand this ninth day of June, 1989. torney SCHEDULE A Amount and Title: $15,800 Bond Anticipation Note for Street Sweeper -1989 Dated: June 9, 1989 Matures: June 8, 1990 Number and Denomination: Interest Rate per annum: Number 4R-1, at $15,800 6.60% n ARBITRAGE AND USE OF PROCEEDS CERTIFICATE I, Francis J. Murphy, Supervisor of the Town of Southold (the "Town"), in the County of Suffolk, New York, HEREBY CERTIFY and reasonably expect with respect to the issuance of the $15,800 Bond Anticipation Note for Street Sweeper -1989 (the "Note") of the Town, dated June 9, 1989, as follows: 1. The Town is a governmental unit with general taxing powers. 2. The Note does not constitute a "private activity bond" as that term is defined in Section 141 of the Internal Revenue Code of 1986, as amended (the "Code"). 3. Ninety-five percent or more of the net proceeds of the sale of the Note are to be used for local governmental activities of the Town. 4. The proceeds of sale of the Note will be used together with other funds of the Town in the amount of $15,800 to redeem a prior issue (the "Prior Issue") in the amount of $31,600 heretofore issued to provide funds for the purpose described (the "Project") in the resolution entitled: "Bond Resolution of the Town of Southold, New York, adopted March 8, 1985 and amended April 23, 1985, authorizing (a) acquisition of a new diesel powered mobile road sweeper, and (b) trade-in of the 1974 road sweeper owned by the Town and application of the $2,000 trade-in value towards the cost of such mobile road sweeper for use by the Town, stating the estimated maximum cost thereof is $85,000, appropriating said amount therefor, and authorizing the issuance of $83,000 serial bonds of said Town to finance said appropriation," adopted by the Town Board of the Town on the date therein referred to. 5. The Note constitutes a current refunding bond and pursuant to the provisions of Section 148 of the Code is not subject to the rebate requirement imposed by the Code because: (i) the Prior Issue qualified for, and was taken into account under the rebate exception when issued; (ii) the aggregate face amount of the Note does not exceed $5,000,000; the Prior Issue had a weighted average maturity of 3 years or less; and (iv) the maturity date of the Note, as measured from the original date of issuance of the notes issued pursuant to the resolution hereinabove cited in paragraph 4 hereof in renewal of which the Note is being issued, does not exceed 30 years. 6. Bond anticipation notes in the aggregate amount of $79,000 have been originally issued in anticipation of the sale of serial bonds authorized to be issued for the Project pursuant to the bond resolution hereinabove cited in paragraph 4 hereof. 7. All the proceeds of the Prior Issue have been expended on the Project within 3 years from the date of issue of the notes originally issued for the Project, or, any proceeds of the Prior Issue which were not expended on the Project within the above-mentioned period were not invested at a yield which is higher than the yield on the Prior Issue. Proceeds of the Prior Issue which shall become "transferred proceeds" of the Note shall not be invested at a yield which is higher than the yield on the Note. 8. The total proceeds of sale of all bond anticipation notes issued to date for the Project do not exceed the total cost of the Project. 9. The Project will not be sold or otherwise disposed of in whole or in part except for incidental sales of surplus items the proceeds of which will not constitute net operating profits or net capital profits to the Town. 10. The Note will be paid from taxes and the proceeds of other obligations of the Town issued to fund the Note. 11. The taxes used to pay principal and interest on the Note, whether or not deposited in a debt service fund, will be expended within 13 months of the date of deposit in such fund, or the date of their accumulation, in the payment of debt service on the Note. Any amounts received from the investment, of such deposit or accumulation will be expended within one year of receipt. The debt service fund, if any, will be used to achieve a proper matching of revenues and debt service and will be depleted at least annually except for a reasonable carryover amount not to exceed one years earnings on the fund. or 1/12 of annual debt service. 12. Except for the debt service fund described herein the Town has not created or established, and does not expect to create or establish, any sinking fund or other similar fund which the Town reasonably expects to use to pay principal or interest on the Note. 13. No portion of the proceeds of the Note will be invested, directly or indirectly, in federally insured deposits n or accounts other than investments of a debt service fund or investments for an initial temporary period. 14. At least 90 percent of the proceeds of the Note will be used to finance property which is: (a) available for use by the general public on an equal basis; (b) used by qualified governmental units or by the employees of such units; or (c) used by nongovernmental persons pursuant to contracts or agreements which provide that (i) at least 50 percent of the compensation paid to the service provider (other than a governmental unit) is on a periodic, fixed -fee basis; (ii) no amount of compensation is based on a share of net profits; (iii) the Town may terminate the contract (without penalty) at the end of any 3 year period; and (iv) the term, including renewal options, does not exceed 5 years. 15. No more than 5 percent of the proceeds of the Note will be used to finance property used by a nongovernmental person in a trade or business which is unrelated to the governmental use of the property referred to in paragraph 14 above. 16. No more than 5 percent of the proceeds of the Note is allocable to any disproportionate related private business use. For purposes of this Arbitrage and Use of Proceeds Certificate, Note proceeds are allocable to a disproportionate related private business use to the extent that the proceeds of the Note which are to be used to finance property used by a nongovernmental person in a trade or business which is related to the governmental use of the property referred to in paragraph 14, above, exceeds the proceeds of the Note which are to be used for the governmental use to which such private trade or business use relates. 17. The Note is hereby designated as a "qualified tax-exempt obligations" pursuant to the provisions of Section 265 of the Code. In making such designation I have determined that: (i) The Note currently refunds the Prior Issue; (ii) the Prior Issue was designated as a "qualified tax-exempt obligation"; (iii) the aggregate face amount of the Note does not exceed $10,000,000; (iv) the Prior Issue had a weighted average maturity of 3 years or less; (v) the maturity date of the Note, as measured from the original date of issuance of the notes issued pursuant to the resolution hereinabove referred to in paragraph 4 hereof in renewal of which the Note is being issued, does not exceed 30 years; and (vi) not more than $10,000,000 of obligations issued by the Town during the calendar year in which the Prior Issue was issued, was designated by the Town as "qualified tax-exempt obligations". 18. The Town has not received notice that it has been listed by the Commissioner of Internal Revenue as an issuer that may not certify its obligations, nor has it been advised that the Commissioner is contemplating listing the Town as a governmental unit that may not certify its obligations. On the basis of the foregoing, it is not expected that the proceeds of sale of the Note will be used in a manner that would cause the Note to be an "arbitrage bond" under Section 148 of the Code and the Income Tax Regulations prescribed thereunder. To the best of my knowledge and belief, there are no other facts, estimates or circumstances that would materially change the foregoing conclusion. I am one of the officers of the Town of Southold charged by the resolution of the Town Board of said Town hereinabove cited in paragraph 4 hereof with the responsibility for issuing the Note and, as such, am an official whose certification may be relied upon as the certification of the Town as referred to in Section 148 of the Code, and Sections 1.103-13, 1.103-14 and 1.103-15 of the Income Tax Regulations thereunder. Neither I nor the Town has been notified or advised by the Internal Revenue Service of any contemplated publication of•a notice in the Internal Revenue Bulletin that the certification of the Town as to arbitrage status may no longer be relied upon by purchasers of its bonds or notes. This certification has been delivered as part of the record of proceedings and accompanying certificates with respect to the issuance of the Note and the provisions of this certificate constitute a contractual obligation of the Town in consideration for the purchase of and payment for the Note by the purchaser(s) thereof. (SEAL) IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of the Town of Southold, this ninth day of June, LRK,. _ /J? rvisor e7 �a'& W ,1V, �or� 70005" June 9, 1989 The Town Board of the Town of Southold, in the County of Suffolk, New York Dear Sirs: We have examined a record of proceedings relating to the issuance of a $15,800 Bond Anticipation Note for Street Sweeper -1989 of the Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York. Said Note is a renewal note and is dated June 9, 1989, matures June 8, 1990, is numbered 4R-1, bears interest at the rate of six and sixty hundredths per centum (6.60%) per annum, payable at maturity, is of the denomination of $15,800, is payable to bearer without coupons and registrable as to both principal and interest, is issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York, the bond resolution adopted by the Town Board on March 12, 1985 and amended April 23, 1985, authorizing the` issuance of $83,000 serial bonds for the acquisition of a new road sweeper and the trade-in of a road sweeper owned by the Town, and the Certificate of Determination executed by the Supervisor on June 9, 1989. Said bond anticipation note is a temporary obligation issued in anticipation of the sale of permanent serial bonds. In our opinion, the Note is a valid and legally binding general obligation of the Town for which the Town has validly pledged its faith and credit and, unless paid from other sources, all the taxable :real property within the Town is subject to the levy of ad valorem real estate taxes to pay the Note and interest thereon without :limitation of rate or amount. The enforceability of rights or remedies with respect to such Note may be limited by bankruptcy, insolvency, or other laws affecting creditors` rights or remedies heretofore or hereafter enacted. The Internal Revenue Code of 1986, as amended (the "Code"), establishes certain requirements that must be met subsequent to the issuance and delivery of the Note in order that interest on the Note be and remain excludable from gross income under Section 103 of the Code. The Supervisor of the Town, in executing the Arbitrage and Use of Proceeds Certificate, has certified to the effect that the Town will comply with the w 0 provisions and procedures set forth therein and that it will do and perform all acts and things necessary or desirable to assure that interest paid on the Note is excludable from gross income under Section 103 of the Code. We have examined such Arbitrage and Use of Proceeds Certificate of the Town delivered concurrently with the delivery of the Note, and, in our opinion such certificate contains provisions and procedures under which such requirements can be met. In our opinion,,the interest on said Note is excludable under existing statutes and court decisions from the gross income of the recipients thereof for federal income tax purposes pursuant to Section 103 of the Code, and under existing statutes interest on the Note will not be treated as a preference item in calculating the alternative minimum tax that may be imposed under the Code with respect to individuals and corporations. In rendering the foregoing opinion we have assumed the Town's compliance with the Arbitrage and Use of Proceeds Certificate. Further, in our opinion, under existing statutes, interest on the :Note is exempt from New York State and New York City personal income taxes. Other than such record of proceedings, we have not been requested to examine or review and have not examined or reviewed the accuracy or sufficiency of any additional proceedings, reports, correspondence, financial statements or other documents, containing financial or other information relative to the Town, which have been or may,hereafter be furnished or disclosed'to purchasers of said Note and.we express no opinion with respect tc any such financial or other information or the accuracy or sufficiency thereof. The form of said Note is prescribed by schedule B, 2 of the Local Finance Law of the State of New York, but we have not examined the executed Note. Very trujjZ yours,, f June 20, 2989 (212) 820-9416 TOWN OF SOUTHOLD, NEW YORK JUN 2 61989 (Our File Designation: 729/22) Southold T,,-- M-4 Ms. Judith T. Terry Town Clerk Town of Southold Town Hall 53095 Main Road Southold, New York 11971 Dear Ms. Terry: We are ;pleased at this time to send along to you signed copies of our final approving opinion with respect to the $15,800 Bond Anticipation Note for Street Sweeper -1989 which was taken up and paid for on June 9, 1989. In addition, we have had prepared and enclose herewith our statement for professional services rendered in this matter. I will appreciate your bringing the statement to the attention of the proper authorities. Thanking you, I remain GF:oam Encls. 6.7 001,4wW A�, ,lune 9, 1989 The Town Board of the Town of Southold, in the County of Suffolk, New York Dear Sirs: We have examined a record of proceedings relating to the issuance of a $15,800 Bond Anticipation Note for Street Sweeper -1989 of the Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York. Said Note is a renewal note and is dated June 9, 1989, matures June 8, 1990, is numbered.4R-1, bears interest at the rate of six and sixty hundredths per centum (6.60%) per annum, payable at maturity, is of the denomination of $15,800, is payable to bearer without coupons and registrable as to both principal and interest, is issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York, the bond resolution adopted by the Town Board on March 12, 1985 and amended April 23, 1985, authorizing the issuance of $83,000 serial bonds for the acquisition of a new road sweeper and the trade-in of a road sweeper owned by the Town, and the Certificate of Determination executed by the Supervisor on June 9, 1989. Said bond anticipation note is a temporary obligation issued in anticipation of the sale of permanent serial bonds. In our opinion, the Note is a valid and.legally binding general obligation of the Town for which the Town has validly pledged its faith and credit and, unless paid from other sources, all the taxable real property within the Town is subject to the levy of ad valorem real estate taxes to pay the Note and interest thereon without limitation of rate or amount. The enforceability of rights or remedies with respect to such Note may be limited by bankruptcy, insolvency, or other laws affecting creditors` rights or remedies heretofore or hereafter enacted. The Internal Revenue Code of 1986, as amended (the "Code"), establishes certain requirements that must be met subsequent to the issuance and delivery of the Note in order that interest on the Note be and remain excludable from gross income under Section 103 of the Code. The Supervisor of the Town, in executing the Arbitrage and Use of Proceeds Certificate, has certified to the effect that the Town will comply with the provisions and procedures set forth therein and that it will do and perform all acts and things necessary or desirable to assure that interest paid on the Note is excludable from gross income under Section 103 of the Code. We have examined such Arbitrage and Use of Proceeds Certificate of the Town delivered concurrently with the delivery of the Note, and, in our opinion, such certificate contains provisions and procedures under which such requirements can be met. In our opinion, the interest on said Note is excludable under existing statutes and court decisions from the gross income of the recipients thereof for federal income tax purposes pursuant to Section 103 of the Code, and under existing statutes interest on the Note will not be treated as a preference item in calculating the alternative minimum tax that may be imposed under the Code with respect to individuals and corporations. In rendering the foregoing opinion we have assumed the Town's compliance with the Arbitrage and Use of Proceeds Certificate. Further, in our opinion, under existing statutes, interest on the Note is exempt from New York State and New York City personal income taxes. Other than such record of proceedings, we have not been requested to examine or review and have not examined or reviewed the accuracy or sufficiency of any additional proceedings, reports, correspondence, financial statements or other documents, containing financial or other information relative to the Town, which have been or may hereafter be furnished or disclosed to purchasers of said Note and we express no opinion with respect to any such financial or other information or the accuracy or sufficiency thereof. The form of said Note is prescribed by schedule B, 2 of the Local Finance Law of the State of New York, but we have not examined the executed Note. Very truly yours, • �_VW �ra, , V- Z��� 67 *,� x000i- June 9, 1989 The Town Board of the Town of Southold, in the County of Suffolk, New York Dear Sirs: We have examined a record of proceedings relating to the issuance of a $15,800 Bond Anticipation Note for Street Sweeper -1989 of the Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York. Said Note is a renewal note and is dated June 9, 1989, matures June 8, 1990, is numbered.4R-1, bears interest at the rate of six and sixty hundredths per centum (6.60%) per annum, payable at maturity, is of the denomination of $15,800, is payable to bearer without coupons and registrable as to both principal and interest, is issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York, the bond resolution adopted by the Town Board on March 12, 1985 and amended April 23, 1985, authorizing the issuance of $83,000 serial bonds for the acquisition of a new road sweeper and the trade-in of a road sweeper owned by the Town, and the Certificate of Determination executed by the Supervisor on June 9, 1989. Said bond anticipation note is a temporary obligation issued in anticipation of the sale of permanent serial bonds. In our opinion, the Note is a valid and legally binding general obligation of the Town for which the Town has validly pledged its faith and credit and, unless paid from other sources, all the taxable real property within the Town is subject to the levy of ad valorem real estate taxes to pay the Note and interest thereon without limitation of rate or amount. The enforceability of rights or remedies with respect to such Note may be limited by bankruptcy, insolvency, or other laws affecting creditors` rights or remedies heretofore or hereafter enacted. The Internal Revenue Code of 1986, as amended (the "Code"), establishes certain requirements that must be met subsequent to the issuance and delivery of the Note in order that interest on the Note be and remain excludable from gross income under Section 103 of the Code. The Supervisor of the Town, in executing the Arbitrage and Use of Proceeds Certificate, has certified to the effect that the Town will comply with the 4 provisions and procedures set forth therein and that it will do and perform all acts and things necessary or desirable to assure that interest paid on the Note is excludable from gross income under Section 103 of the Code. We have examined such Arbitrage and Use of Proceeds Certificate of the Town delivered concurrently with the delivery of the Note, and, in our opinion, such certificate contains provisions and procedures under which such requirements can be met. In our opinion, the interest on said Note is excludable under existing statutes and court decisions from the gross income of the recipients thereof for federal income tax purposes pursuant to Section 103 of the Code, and under existing statutes interest on the Note will not be treated as a preference item in calculating the alternative minimum tax that may be imposed under the Code with respect to individuals and corporations. In rendering the foregoing opinion we have assumed the Town's compliance with the Arbitrage and Use of Proceeds Certificate. Further, in our opinion, under existing statutes, interest on the Note is exempt from New York State and New York City personal income taxes. Other than such record of proceedings, we have not been requested to examine or review and have not examined or reviewed the accuracy or sufficiency of any additional proceedings, reports, correspondence, financial statements or other documents, containing financial orotherinformation relative to the Town, which have been or may hereafter be furnished or disclosed to purchasers of said Note and we express no opinion with respect to any such financial or other information or the accuracy or sufficiency thereof. The form of said Note is prescribed by schedule B, 2 of the Local Finance Law of the State of New York, but we have not examined the executed Note. Very truly yours, JK4V /I/,;,. 67 A , &W 7000`" June 9, 1989 The Town Board of the Town of Southold, in the.County of Suffolk, New York Dear Sirs: We have examined a record of proceedings relating to the issuance of a $15,800 Bond Anticipation Note for Street Sweeper -1989 of the Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York. Said Note is a renewal note and is dated June 9, 1989, matures June 8, 1990, is numbered.4R-1, bears interest at the rate of six and sixty hundredths per centum (6.60%) per annum, payable at maturity, is of the denomination of $15,800, is payable to bearer without coupons and registrable as to both principal and interest, is issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York, the bond resolution adopted by the Town Board on March 12, 1985 and amended April 23, 1985, authorizing the issuance of $830,000 serial bonds for the acquisition of a new road sweeper and the trade-in of a road sweeper owned by the Town, and the Certificate of Determination executed by the Supervisor on June 9, 1989. Said bond anticipation note is a temporary obligation issued in anticipation of the sale of permanent serial bonds. In our opinion, the Note is a valid and legally binding general obligation of the Town for which the Town has validly pledged its faith and credit and, unless paid from other sources, all the taxable real property within the Town is subject to the levy of ad valorem real estate taxes to pay the Note and interest thereon without limitation of rate or amount. The enforceability of rights or remedies with respect to such Note may be limited by bankruptcy, insolvency, or other laws affecting creditors' rights or remedies heretofore or hereafter enacted. The Internal Revenue Code of 1986, as amended (the "Code"), establishes certain requirements that must be met subsequent to the issuance and delivery of the Note in order that interest on the Note be and remain excludable from gross income under Section 103 of the Code. The Supervisor of the Town, in executing the Arbitrage and Use of Proceeds Certificate, has certified to the effect that the Town will comply with the provisions and procedures set forth therein and that it will do and perform all acts and things necessary or desirable to assure that interest paid on the Note is excludable from gross income under Section 103 of the Code. We have examined such Arbitrage and Use of Proceeds Certificate of the Town delivered concurrently with the delivery of the Note, and, in our opinion, such certificate contains provisions and procedures under which such requirements can be met. In our opinion, the interest on said Note is excludable under existing statutes and court decisions from the gross income of the recipients thereof for federal income tax purposes pursuant to Section 103 of the Code, and under existing statutes interest on the Note will not be treated as a preference item in calculating the alternative minimum tax that may be imposed under the Code with respect to individuals and corporations. In rendering the foregoing opinion -we have assumed the Town's compliance with the Arbitrage and Use of Proceeds Certificate. Further, in our opinion, under existing statutes, interest on the Note is exempt from New York State and New York City personal income taxes. Other than such record of proceedings, we have not been requested to examine or review and have not examined or reviewed the accuracy or sufficiency of any additional proceedings, reports, correspondence, financial statements or other documents, containing financial or other information relative to the Town, which have been or may hereafter be furnished or disclosed to purchasers of said Note and we express no opinion with respect to any such financial or other information or the accuracy or sufficiency thereof. The form of said Note is prescribed by schedule B, 2 of the Local Finance Law of the State of New York, but we have not examined the executed Note. Very trul yours, AA%AXUcV AL. YAC U AG* U1 4{[C 'j'0,Wn wept in the office of such Town Clerk and endorsing a certificate of'such re#istration hereon, after which both pane) al of and interest on this Note shall be payable only to the registered hold", s �le representatives, sucee rs or t r ereesl This Note shall then; be trausferable.only upon presentation to such . with a written transfer of title and such Tow n Clerkshall thereupon register this Note in the name of the transferee in his books and shall endorse a certificate of such ;registration hereon. Su eh transfer shall be dated,- and signed by'the registered holder, or his legal representatives, and it shall be duly acknowledged or proved, or in the alternative the signature thereto shall be certified as to its genuineness by an officer of a bank bar -trust comnanv'located' Section' 265, of the Interna'. The faith and credit of such'F w b' Sia happened and have 'been, performed, and that thls ,NQte. together with all other indebtedn sq of Aueb Tf-iWwl n -f. SECURITY•COLUMBIAN BANKNOTE COMPANY REGISTRATION CERTIFICATE It is hereby certified that the within Note has been registered as follows: JUDITH T. TERRY TOWN CLERK REGISTRAR OF VITAL STATISTICS 0 10 OFFICE OF THE TOWN CLERK TOWN OF SOUTHOLD June 9, 1989 Manuel Menendez, Jr. Hawkins, Delafield & Wood 67 Wall Street New York, New York 10005 Re: Town of Southold, New York Your File Designation: 729/22 Dear Mr. Menendez: Town Hall, 53095 Main Road P.O. Box 1179 Southold, New York 11971 FAX (516) 765-1823 TELEPHONE (516) 765-1801 Transmitted herewith are the fully executed and completed copies of the $15,800 Bond Anticipation Note for Street Sweeper -1989 of the Town of Southold, New York, and four executed copies of Form 8038-G. Very truly yours, Judith T. Terry Southold Town Clerk Enclosures (212) 820-9530 TOWN OF SOUTHOLD, NEW YORK (Our File Designation: 729/22) Ms. Judith T. Terry Town Clerk Town of Southold Town Hall 53095 Main Road Southold, New York 11971 Dear Ms. Terry: p9aff• Z. h :%"*Mld Town Clerk June 7, 1989 In connection with the delivery of the $15,800 Bond Anticipation Note for Street Sweeper -1989 of the Town of Southold, New York, and based on information supplied to us, we have had prepared and now forward to you for completion and execution: 1.- Certificate of Determination, to be executed by Francis J. Murphy, the Supervisor. The clerk's certificate attached thereto is to be signed and sealed by you as the Town Clerk. 2. No Conflict of Interest Affidavit, to be executed by you as the Town Clerk and notarized. 3. Closing Certificates, to be signed and sealed where indicated by the Supervisor, you as the Town Clerk, James Schondebare, Esq., and by a local bank officer. 4. Arbitrage and Use of Proceeds Certificate to be executed by the Supervisor and sealed. 5. Information Return (Form 8038 -GC), to be executed by the Supervisor. Please be sure to fill in your employer identification number in the space provided for item #2 on the return. We will complete this return and attend to its filing. 0 ! _Ik 6. An engraved border note in the denomination of $15,800 ready for execution by the Supervisor and you as the Town Clerk, and sealing. May I ask that you arrange to have fully executed and completed copies of the foregoing certificates, affidavits, and all four copies of Form 8038 -GC forwarded to me promptly following the closing, which we understand will not take place in our offices in New York. Please note that this is the last time that you are authorized to renew this Note. With kindest regards, I am Very truly yours, Manuel Menendez, r. MM, Jr. :kl Encls: UNITED STATES OF AbtERiCA No. 4R-1 STATE OF NEW YORK 15, 800 COUNTY'OF SUFFOLK TOWN OF'SOUTHOLD BOND ANTICIPATION NOTE'`FOR STREET SWEEPER -1989 The Town of Southold, in ,the County of Suffolk, a municipal corporation of the State of New York, hereby acknowledges itself indebted and for value received promises to pay to the bearer of this Note, or If It be registered, to the,registered holder, the atm of ------Fifteen�Thousand Eight Hundred--------- - -Dollars($ 1'5,800--------)' ou the 8th day of June , 1990,.together . with Interest thereon from the date hereof at the rate of -----six and sixt Y'hundredths--- . - — per centum rrn ( 6 . 60%) per aumt payable at maturity. Both principal of and Interest on this Note will be paid in lawful money of the United States of America, at The North Fork Bank & Trust Company, Southold, New York. At the request of the holder, the Town Clerk : shall convert this Note Into a registered Note by registering It in the mine of the holder in the books of the Town kept in the office of such Town Clerk and endorsing a certificate of such registration hereon, atter which both principal of and interest on this Note shall he payable only to the registered holder, his legal representatives, successors or transferees. This Note shall then be transferable only upon presentation to such Town Clerk with a written transfer of title and such Town Clerk shall thereupon register this Note in the name of the transferee in his books and shall endorse a certificate of such registration hereon. Such transfer shall be dated, and signed by the registered holder, or his legal repmsentatires, and It shall be duly acknowledged or proved, or In the alternative the signature thereto shall be certified as to its genuineuess by an officer of a bank or trust company located and authorized to do business in this State. This -Note is the only Note of an authorized renewal issue, the principal amount of which is $15,800. This Note Is Issuedpursuant to the provisions of the Local Finance Law, constituting Chapter 88-a of the Consolidated Lnwa of the State of New York the bond resolution adopted by the, Town Board on March 12, 1985 and amended April 23, 1985, authorizing the issuance of $83,000 serial bonds for the acquisition of a new, road sweeper and the trade-in of a`road sweeper owned by the Town, and the Certificate of Determination executed by the Supervisor on June 9, 1989. This Note has been designated by the Town as a qualified tax-exempt obligation pursuant to the provisions of Section 265 of the Internal Revenue Code of 1986, as amended. The faith and credit of such Town Of Southold are hereby irrevocablypledgees for the punctual payment of the principal of and interest on this Note according to its terms. It is hereby certified and recited that all conditions, acts and things required by the Constitution and statutes of the State of New York to exist, to have happened and to have been perforated 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 such TO`ivn of Southold is within every debt and other limit prescribed by the Constitution and laws, of such State. IN WITNESS WHEREOF, the Town of Southold has caused this Note to be signed by its Supervisor and its corporate seat W be hereunto affixed and attested by ita Town Clerk and this Now to be dated es of the 9th day of June, 1989. TOWN OF SOUTHOLD Ww-g''ov ice+ /fi//� R: .AO' i • AFFIDAVIT AS TO NO CONFLICT OF INTEREST STATE OF NEW YORK :ss: COUNTY OF SUFFOLK Judith T. Terry, being duly sworn upon his/her oath deposes and says: (1) I am the duly appointed, qualified and acting Town Clerk of the Town of Southold, in the County of Suffolk, New York (herein and in Schedule A annexed hereto called "Town"); (2) That with respect to the contract of sale of the Note of the Town described in the Certificate of Determination executed by the Supervisor on the ninth day of June, 1989, to the financial institution indicated in such Certificate, I have made a careful inquiry of each officer and employee of the Town having the power or duty to (a) negotiate, prepare, authorize or approve the contract or authorize or approve payment thereunder, (b) audit bills or claims under the contract, or (c) appoint an officer or employee who has any of the powers or duties set forth above, as to whether or not such officer or employee has an interest (as defined pursuant to Article 18 of the General Municipal Law) in such contract; (3) That upon information and belief, as a result of such inquiry, no such officer or employee has any such interest in said contract unless otherwise noted in Schedule A annexed hereto and by this reference made a part hereof. Subscribed and sworn to before me this ninth day of June, 1989. Nota Public, St:a of New York EUXASM ANN NE%%U f ubilik State of Mm York Suffolk Term Expires October 31,10 - 1 SCHEDULE A 1. , is a stockholder of the Purchaser owning or controlling, directly or indirectly, less than five per centum (5%) of the outstanding stock thereof but no disclosure of such interest by said officer is required pursuant to said Law. 2. , has an interest in the Purchaser solely by reason of employment as an officer or employee thereof, but the remuneration of such employment will not be directly affected as a result of said contract and the duties of such employment do not directly involve the procurement, preparation or performance of any such part of such contract. 3. , has publicly disclosed the nature and extent of such interest in writing to the governing board of the Town. Such written disclosure has been made a part of and set forth in the official record of proceedings of the Town. ARBITRAGE AND USE OF PROCEEDS CERTIFICATE I, Francis J. Murphy, Supervisor of the Town of Southold (the "Town"), in the County of Suffolk, New York, HEREBY CERTIFY and reasonably expect with respect to the issuance of the $15,800 Bond Anticipation Note for Street Sweeper -1989 (the "Note") of the Town, dated June 9, 1989, as follows: 1. The Town is a governmental unit with general taxing powers. 2. The! Note does not constitute a "private activity bond" as that term is defined in Section 141 of the Internal Revenue Code of 1986, as amended (the "Code"). 3. Ninety-five percent or more of the net proceeds of the sale of the Note are to be used for local governmental activities of the! Town. 4. The proceeds of sale of the Note will be used together with other funds of the Town in the amount of $15,800 to redeem a prior issue (the "Prior Issue") in the amount of $31,600 heretofore issued to provide funds for the purpose described (the "Project") in the► resolution entitled: "Bond Resolution of the Town of Southold, New York, adopted March 8, 1985 and amended April 23, 1985, authorising (a) acquisition of a new diesel powered mobile road sweeper, and (b) trade-in of the 1974 road sweeper owned by the Town and application of the $2,000 trade-in value towards the cost of such mobile road sweeper for use by the Town, stating the estimated maximum cost thereof is $85,000, appropriating said amount therefor, and authorizing the issuance of $83,000 serial bonds of said Town to finance said appropriation," adopted by the Town Board of the Town on the date therein referred to. 5. The! Note constitutes a current refunding bond and pursuant to the provisions of Section 148 of the Code is not subject to the rebate requirement imposed by the Code because: (i) the! Prior Issue qualified for, and was taken into account under the rebate exception when issued; (ii) the aggregate face amount of the Note does not exceed $5,000,000; (iii) the! Prior Issue had a weighted average maturity of 3 years or less; and 0 9 (iv) the maturity date of the Note, as measured from the original date of issuance of the notes issued pursuant to the resolution hereinabove cited in paragraph 4 hereof in renewal of which the Note is being issued, does not exceed 30 years. 6. Bond anticipation notes in the aggregate amount of $79,000 have been originally issued in anticipation of the sale of serial bonds authorized to be issued for the Project pursuant to the bond resolution hereinabove cited in paragraph 4 hereof. 7. All the proceeds of the Prior Issue have been expended on the Project within 3 years from the date of issue of the notes originally issued for the Project, or, any proceeds of the Prior Issue which were not expended on the Project within the above-mentioned period were not invested at a yield which is higher than the yield on the Prior Issue. Proceeds of the Prior Issue which shall become "transferred proceeds" of the Note shall not be invested at a yield which is higher than the yield on the Note. 8. The total proceeds of sale of all bond anticipation notes issued to date for the Project do not exceed the total cost of the Project. 9. The Project will not be sold or otherwise disposed of in whole or in part except for incidental sales of surplus items the proceeds of which will not constitute net operating profits or net capital profits to the Town. 10. The Note will be paid from taxes and the proceeds of other obligations of the Town issued to fund the Note. 11. The taxes used to pay principal and interest on the Note, whether or not deposited in a debt service fund, will be expended within 13 months of the date of deposit in such fund, or the date of their accumulation, in the payment of debt service on the Note. Any amounts received from the investment of such deposit or accumulation will be expended within one year of receipt. The debt service fund, if any, will be used to achieve a proper matching of revenues and debt service and will be depleted at least: annually except for a reasonable carryover amount not to exceed one years earnings on the fund or 1/12 of annual debt service. 12. Except for the debt service fund described herein the Town has not created or established, and does not expect to create or establish, any sinking fund or other similar fund which the Town reasonably expects to use to pay principal or interest on the Note. 13. No portion of the proceeds of the Note will be invested, directly or indirectly, in federally insured deposits or accounts other than investments of a debt service fund or investments for an initial temporary period. 14. At least 90 percent of the proceeds of the Note will be used to finance property which is: (a) available for use by the general public on an equal basis; (b) used by qualified governmental units or by the employees of such units; or (c) used by nongovernmental persons pursuant to contracts or agreements which provide that (i) at least 50 percent of the compensation paid to the service provider (other than a governmental unit) is on a periodic, fixed -fee basis; (ii) no amount of compensation is based on a share of net profits; (iii) the Town may terminate the contract (without penalty) at the end of any 3 year period; and (iv) the term, including renewal options, does not exceed 5 years. 15. No more than 5 percent of the proceeds of the Note will be used to :Finance property used by a nongovernmental person in a trade or business which is unrelated to the governmental use of the property referred to in paragraph 14 above. 16. No more than 5 percent of the proceeds of the Note is allocable to any disproportionate related private business use. For purposes of this Arbitrage and Use of Proceeds Certificate, Note proceeds are allocable to a disproportionate related private business use to the extent that the proceeds of the Note which are to be used to finance property used by a nongovernmental person in a trade or business which is related to the governmental use of the property referred to in paragraph 14, above, exceeds the proceeds of the Note which are to be used for the governmental use to which such private trade or business use relates. 17. The Note is hereby designated as a "qualified tax-exempt obligations" pursuant to the provisions of Section 265 of the Code. In making such designation I have determined that: (i) The? Note currently refunds the Prior Issue; (ii) the? Prior Issue was designated as a "qualified tax-exempt obligation"; (iii) the! aggregate face amount of the Note does not exceed $10,000,000; (iv) the! Prior Issue had a weighted average maturity of 3 years or less; 9 (v) the maturity date of the Note, as measured from the original date of issuance of the notes issued pursuant to the resolution hereinabove referred to in paragraph 4 hereof in renewal of which the Note is being issued, does not exceed 30 years; and NO not more than $10,000,000 of obligations issued by the Town during the calendar year in which the Prior Issue was issued, was designated by the Town as "qualified tax-exempt obligations". 18. The Town has not received notice that it has been listed by the Commissioner of Internal Revenue as an issuer that may not certify :its obligations, nor has it been advised that the Commissioner is contemplating listing the Town as a governmental unit that may not certify its obligations. On the basis of the foregoing, it is not expected that the proceeds of sale of the Note will be used in a manner that would cause the Note to be an "arbitrage bond" under Section 148 of the Code and the Income Tax Regulations prescribed thereunder. To the best of my knowledge and belief, there are no other facts, estimates or circumstances that would materially change the foregoing conclusion. I am one of the officers of the Town of Southold charged by the resolution of the Town Board of said Town hereinabove cited in paragraph 4 hereof with the responsibility for issuing the Note and, as such, am an official whose certification may be relied upon as the certification of the Town as referred to in Section 148 of the Code, and Sections 1.103-13, 1.103-14 and 1.103-15 of the Income Tax Regulations thereunder. Neither I nor the Town has been notified or advised by the Internal Revenue Service of any contemplated publication of'a notice in the Internal Revenue Bulletin that the certification of the Town as to arbitrage status may no longer be relied upon by purchasers of its bonds or notes. This certification has been delivered as part of the record of proceedings and accompanying certificates with respect to the issuance of the Note and the provisions of this certificate constitute a contractual obligation of the Town in consideration for the purchase of and payment for the Note by the purchaser(s) thereof. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of the Town of Southold, nthis ninth day of June, 1��,. It/ �/ CERTIFICATE OF DETERMINATION BY THE SUPERVISOR RELATIVE TO AUTHORIZATION, SALE, ISSUANCE, FORM AND CONTENTS OF A $15,800 BOND ANTICIPATION NOTE FOR STREET SWEEPER -1989 OF THE TOWN OF SOUTHOLD, NEW YORK. I, Francais J. Murphy, Supervisor of the Town of Southold, New York (herein called the "Town"), HEREBY CERTIFY that pursuant to the powers and duties delegated to me, the chief fiscal officer of` the Town, by the Town Board of the Town, pursuant to the resolution duly adopted and as referred to in paragraph 1 hereof, and subject to the limitations prescribed in said resolution, I have made the following determinations: 1. A bond anticipation note (the "Note") of the Town in the principal amount of $15,800 shall be issued in anticipation of the sale of serial bonds authorized pursuant to the resolution entitled: "Bond Resolution of the Town of Southold, New York, adopted March 8, 1985 and amended April 23, 1985, authorising (a) acquisition of a new diesel powered mobile road sweeper, and (b) trade-in of the 1974 road sweeper owned by the Town and application of the $2,000 trade-in value towards the cost of such mobile road sweeper for use by the Town, stating the esti. mated maximum cost thereof is $85,000, appropriating said amount therefor, and authorizing the issuance of $83,000 serial bonds of said Town to finance said appropriation," duly adopted by the Town Board on the date therein referred to. 2. The terms, form and details of said Note shall be as follows: Amount and Title: $15,800 Bond Anticipation Note for Street Sweeper -1989 Dated: Matures: Number and Denomination: Interest Rate per annum: June 9, 1989 June 8, 1990 Number 4R-1, at $15,800 6.60% Form of Note: Substantially in accordance with form prescribed by Schedule B, 2 of the Local Finance Law of the State of New York. 3. Said Note is issued to renew, in part, a note or notes in the amount of $31,600 maturing on June 9, 1989, the redemption thereof having been provided to the extent of $15,800 from a source other than the proceeds of serial bonds. 4. The amount of bond anticipation notes originally issued in anticipation of the issuance of serial bonds authorized pursuant to the resolution referred to in paragraph 1 hereof, including the Note, is $79,000, and the amount of bond anticipation notes which will be outstanding after the issuance of the Note, including said Note will be $15,800. 5. The serial bonds authorized pursuant to the resolution referred to in paragraph 1 hereof are for an improvement which is non -assessable. 6. Pursuant to said powers and duties delegated to me, I DO HEREBY AWARD AND SELL said Note as follows: to The North Fork Bank & Trust Company, Southold, New York, for the purchase price of $15,800, plus accrued interest, if any, from the date of said Note to the date of delivery thereof, and I FURTHER DETERMINE that said Note shall be payable as to both principal and interest at The ]North Fork Bank & Trust Company, Southold, New York, and shall bear interest at the rate of six and sixty hundredths per centum (6.60$) per annum, payable at maturity. 7. Said Note shall be executed in the name of the Town by its Supervisor and the corporate seal of the Town shall be affixed thereto and attested by its Town Clerk. I HEREBY FURTHER CERTIFY that the powers and duties delegated to me Ito issue and sell the Note hereinabove referred to are in full force and effect and have not been modified, amended or revoked. IN WITNESS WHEREOF; I have hereu�o let my hand this ninth day of June, 1989..E rvisor CLERK'S CERTIFICATE I, Judith T. Terry, Town Clerk of the Town of Southold, in the County of Suffolk, New York, HEREBY CERTIFY that I have compared the foregoing copy of the Certificate of Determination executed by the Supervisor and the same is a true and complete copy of the Certificate filed with said Town in my office as Town Clerk on the ninth day of June, 1989; and I FURTHER CERTIFY that no resolution electing to reassume any of the powers or duties mentioned in said Certificate and delegated to the Supervisor by the resolution cited in said Certificate has been adopted by said Town Board. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of said Town this ninth day of June, 1989. (SEAL) Town Clerk CERTIFICATES AS TO SIGNATURES, LITIGATION, AND DELIVERY AND PAYMENT WE, the undersigned officers of the Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York and herein referred to as the "Town", HEREBY CERTIFY, that on or before June 9, 1989, we officially signed and properly executed by manual signatures a $15,800 Bond Anticipation Note for Street Sweeper -1989 (the "Note") of the Town, payable to bearer and otherwise described in Schedule A annexed hereto and by this reference made a part hereof, and that at the time of such signing and execution and on the date hereof we were and are the duly chosen, qualified and acting officers of the Town authorized to execute said Note and holding the respective offices indicated by the titles set opposite our signatures hereto for terms expiring on the respective dates set opposite such titles. WE FURTHER CERTIFY that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of said Note or the levy or collection of any taxes to pay the interest on or principal of said Note, or in any manner questioning the authority or proceedings for the issuance of said Note or for the levy or collection of said taxes, or relating to said Note or affecting the validity thereof or the levy or collection of said taxes, that neither the corporate existence or boundaries of the Town nor the title of any of the present officers thereof to their respective offices is being contested, and that no authority or proceedings for the issuance of said Note has or have been repealed, revoked or rescinded. WE FURTHER CERTIFY that the seal which is impressed upon this certificate has been affixed, impressed, imprinted or otherwise reproduced upon said Note and is the legally adopted, proper and only official corporate seal of the Town. And, I, Francis J. Murphy, Supervisor, HEREBY FURTHER CERTIFY that on June 9, 1989, I delivered said Note to The North Fork Bank & Trust: Company, Southold, New York, the purchaser thereof, and that: at the time of such delivery of said Note, I received from said purchaser the amount hereinbelow stated, in full payment for said Note, computed as follows: Pri.ce ............................... $15,800 Interest on said Note accrued to the date of such delivery ............. -0- Amount Received ..................... $15,800 (SEAL) IN WITNE;SS WHEREOF, we have hereunto set our hands and said corporate seal has hereunto been affixed this ninth day of June, 1989. Term of Office S' ure Expires Title December 31, 1989 Supervisor �December 31, 1989 Town Clerk c I HEREBY CERTIFY that the signatures of the officers of the above-named Town, which appear above, are true and genuine and that I know said officers and know them to hold the respective offices set opposite their signatures. tilt 11 culiiffim Signa urea- Titl , MMYOW ATTORNEY'S CERTIFICATE I, James Schondebare, HEREBY CERTIFY that I am a licensed attorney at law of the State of New York, having offices at 53095 Main Road, Southold, New York, and am the duly chosen, qualified and acting Town Attorney of the Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York and herein referred to as the "Town", that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of the Note of the Town, payable to bearer and otherwise described as set forth in Schedule A annexed hereto and by this reference made a part hereof or the levy or collection of any taxes to pay the interest on or principal of said Note, or in any manner questioning the authority or proceedings for the issuance of said Note or for the levy or collection of said taxes, or relating to said Note or affecting the validity thereof or the levy or collection of said taxes, that neither the corporate existence or boundaries of the Town nor the title of any of the present officers thereof to their respective offices is being contested, and that no authority or proceedings for the issuance of said Note has or have been repealed, revoked or rescinded. IN WITNESS WHEREOF, I have hereunto set my hand this ninth day of June, 1989. Att-orrrey Amount and Title: Dated: Matures: Number and Denomination: Interest Rate per annum: SCHEDULE A $15,800 Bond Anticipation Note for Street Sweeper -1989 June 9, 1989 June 8, 1990 Number 4R-1, at $15,800 6.60% t • � � I (212) 820-9416 RECEIVED 'JUL 271988 S014n,A Tnv.,n i i^A TOWN OF SOUTHOLD, NEW YORK (Our File Designation: 729/22) Judith T. Terry Town Clerk Town of Southold 53095 Main Road Southold, New York 11971 Dear Ms. Terry: July 25, 1988 We are pleased at this time to send along to you signed copies of our final approving opinion with respect to the $31.600 Bond Anticipation Note for Street Sweeper -1988 which was taken up and paid for on June 10, 1988. In addition, we have had prepared and enclose herewith our statement for professional services rendered in this matter. I will appreciate your bringing the statement to the attention of the proper authorities. Thanking you, I remain jPerard y s, ernande , Jr. GF:oam Encls. June 10, 1988 The Town Board of the Town of Southold, in the County of Suffolk, New York Dear Sirs: We have examined a record of proceedings relating to the issuance of a $31,600 Bond Anticipation Note for Street Sweeper - 1988 of the Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York. Said Note is a renewal note and is dated June 10, 1988, matures June 9, 1989, is numbered 3R-1, bears interest at the rate of five and thirty-eight hundredths per centum (5.38%) per annum, payable at maturity, is of the denomination of $31,600, is payable to bearer without coupons and registrable as to both principal and interest, is issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York, the bond resolution adopted by the Town Board on March 12, 1985 and amended April 23, 1985, authorizing the issuance of $83,000 serial bonds for the acquisition of a new road sweeper and the trade-in of a road sweeper owned by the Town, and the Certificate of Determination executed by the Supervisor on June 10, 1988. Said bond anticipation note is a temporary obligation issued in anticipation of the sale of permanent serial bonds. In our opinion, the Note is a valid and legally binding general obligation of the Town for which the Town has validly pledged its faith and credit and, unless paid from other sources, all the taxable real property within the Town is subject to the levy of ad valorem real estate taxes to pay the Note and interest thereon without limitation of rate or amount. The enforceability of rights or remedies with respect to such Note may be limited by bankruptcy, insolvency, or other laws affecting creditors' rights or remedies heretofore or hereafter enacted. The Internal Revenue Code of 1986, as amended (the "Code"), establishes certain requirements that must be met subsequent to the issuance and delivery of the Note in order that interest on the Note be and remain excludable from gross income under Section 103 of the Code. The Supervisor of the Town, in executing the Arbitrage and Use of Proceeds Certificate, has certified to the effect that the Town will comply with the provisions and procedures set forth therein and that it will do and perform all acts and things necessary or desirable to assure that interest paid on the Note is excludable from gross income under Section 103 of the Code. We have examined such Arbitrage and Use of Proceeds Certificate of the Town delivered concurrently with the delivery of the Note, and, in our opinion, such certificate contains provisions and procedures under which such requirements can be met. In our opinion, the interest on said Note is excludable under existing statutes and court decisions from the gross income of the recipients thereof for federal income tax purposes pursuant to Section 103 of the Code, and under existing statutes interest on the Note will not be treated as a preference item in calculating the alternative minimum tax that may be imposed under the Code with respect to individuals and corporations. In rendering the foregoing opinion we have assumed the Town's compliance with the Arbitrage and Use of Proceeds Certificate. Further, in our opinion, under existing statutes, interest on the Note is exempt from New York State and New York City personal income taxes. Other than such record of proceedings, we have not been requested to examine or review and have not examined or reviewed the accuracy or sufficiency of any additional proceedings, reports, correspondence, financial statements or other documents, containing financial or other information relative to the Town, which have been or may hereafter be furnished or disclosed to purchasers of said Note and we express no opinion with respect to any such financial or other information or the accuracy or sufficiency thereof. The form of said Note is prescribed by schedule B, 2 of the Local Finance Law of the State of New York, but we have not examined the executed Note. Very truly yours, val"17" • e7 AV1,4wW, A;�;, 3(,,PW 1(202, June 10, 1988 The Town Board of the Town of Southold, in the County of Suffolk, New York Dear Sirs: We have examined a record of proceedings relating to the issuance of a $31,600 Bond Anticipation Note for Street Sweeper - 1988 of the Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York. Said Note is a renewal note and is dated June 1.0, 1988, matures June 9, 1989, is numbered 3R-1, bears interest at the rate of five and thirty-eight hundredths per centum (5.38$) per annum, payable at maturity, is of the denomination of $31.,600, is payable to bearer without coupons and registrable as to both principal and interest, is issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York, the bond resolution adopted by the Town Board on March 12, 1985 and amended April 23, 1985, authorizing the issuance of $83,000 serial bonds for the acquisition of a new road sweeper and the trade-in of a road sweeper owned by the Town, and the Certificate of Determination executed by the Supervisor on June 10, 1988. Said bond anticipation note is a temporary obligation issued in anticipation of the sale of permanent serial bonds. In our opinion, the Note is a valid and legally binding general obligation of the Town for which the Town has validly pledged its faith and credit and, unless paid from other sources, all the taxable real property within the Town is subject to the levy of ad valorem real estate taxes to pay the Note and interest thereon without limitation of rate or amount. The enforceability of rights or remedies with respect to such Note may be limited by bankruptcy, insolvency, or other laws affecting creditors' rights or remedies heretofore or hereafter enacted. The Internal Revenue Code of 1986, as amended (the "Code"), establishes certain requirements that must be met subsequent to the :issuance and delivery of the Note in order that interest on the Note be and remain excludable from gross income under Section 103 of the Code. The Supervisor of the Town, in executing the Arbitrage and Use of Proceeds Certificate, has certified to the effect that the Town will comply with the provisions and procedures set forth therein and that it will do and 0 0 perform all acts and things necessary or desirable to assure that interest paid on the Note is excludable from gross income under Section 103 of the Code. We have examined such Arbitrage and Use of Proceeds Certificate of the Town delivered concurrently with the delivery of the Nome, and, in our opinion, such certificate contains provisions and procedures under which such requirements can be met. In our opinion, the interest on said Note is excludable under existing statutes and court decisions from the gross income of the recipients thereof for federal income tax purposes pursuant to Section 103 of the Code, and under existing statutes interest on the Note will not be treated as a preference item in calculating the alternative minimum tax that may be imposed under the Code with respect to individuals and corporations. In rendering the foregoing opinion we have assumed the Town's compliance with the Arbitrage and Use of Proceeds Certificate. Further, .in our opinion, under existing statutes, interest on the Note is exempt from New York State and New York City personal income taxes. Other than such record of proceedings, we have not been requested to examine or review and have not examined or reviewed the accuracy or sufficiency of any additional proceedings, reports, correspondence, financial statements or other documents, containing financial or other information relative to the Town, which have been or may hereafter be furnished or disclosed to purchasers of said Note and we express no opinion with respect to any such financial or other information or the accuracy or sufficiency thereof. The form of said Note is prescribed by schedule B, 2 of the Local Finance Law of the State of New York, but we have not examined the executed Note. Very truly yours, f I� JUDITH T. TERRY TOWN CLERK REGISTRAR OF VITAL STATISTICS OFFICE OF THE TOWN CLERK TOWN OF SOUTHOLD June 10, 1988 Manuel Menendez, Jr., Esq. Hawkins, Delafield E Wood 67 Wall Street New York, New York 10005 Re: Town of Southold, New York Your File Designation: 729/22 Dear Mr. Menendez: Town Hall, 53095 Main Road P.O. Box 1179 Southold, New York 11971 TELEPHONE (516) 765-1801 Transmitted herewith are fully executed and completed copies of the Bond Anticipation Note for Street Sweeper - 1988, as well as all four copies of Form 8038 -GC executed by Supervisor Murphy. Very truly yours, Judith T. Terry Southold Town Clerk Enclosures 0 RECEIVED S� �a T.,...., rl A ( 212 ) 820-'9530 June 9, 1988 TOWN OF SOUTHOLD, NEW YORK (Our File Designation: 729/22) Judith T. Terry Town Clerk Town of Southold 53095 Main Road Southold, New York 11971 Dear Ms. Terry: In connection with the delivery of the $31,600 Bond Anticipation Note for Street Sweeper -1988 of the Town of Southold, New York, and based on information supplied to us, we have had prepared and now forward to you for completion and execution: 1. Certificate of Determination, to be executed by Francis J. Murphy, the Supervisor. The clerk's certificate attached thereto is to be signed and sealed by you, the Town Clerk. 2. No Conflict of Interest Affidavit, to be executed by the Town Clerk and notarized. 3. Closing Certificates, to be signed and sealed where indicated by you, the Supervisor, the Town Clerk, and by a local bank officer. 4. Arbitrage and Use of Proceeds Certificate to be executed by the Supervisor and sealed. You will notice that this certificate includes information which demonstrates compliance with the provisions of the Internal Revenue Code of 1986, as amended. we strongly urge you to review this information and contact us should you have any questions. 5. Information Return (Form 8038 -GC), to be executed by the Supervisor. This return is required pursuant to the • provisions of the tax code for all note and bond issues after December 31, 1986. Please be sure to fill in your employer identification number in the space provided for item #2 on the return. We will complete this return and attend to its filing. 6. An engraved border note in the denomination of $31,600 ready for execution by you and Town Clerk, and sealing. May I ask that you arrange to have fully executed and completed copies of the foregoing certificates, affidavits, and all four copies of Form 8038 -GC forwarded to me promptly following the closing, which we understand will not take place in our offices in New York. With kindest regards, I am Very truly yours, Manuel Menendez, Jr. MM,Jr.:ljk Encls: ;A#�ERiC� 4 31;600 HOS°fl:.; wme of l6.C""bad sib , '1c( oC;the Town ;, , kept�4n� tha o53m sedan a•aertiflcate� at guFL::sc°gist-t{on he wq, alter 3uidch both' dl be "psyabYesO°tP regtder«1 ho 4W I::l9Tentativte,.:�uCl:caors ••9,. crabla anl7 P.pi�F .... eetto,_to stub T k ''iec7 tax-exem in`2.65 o8.,,the as o(,aaaw xars to ester, to have biPP�w atA o here ehsppened dad have bees patfon-14': aed tha}'ttib"lioZs tutIxold , u witLia eaery tTep} pnd` IN IAI�mss 'WHPeR$1?B jtl a TpWn�,�0 canoed this Xote to be atgped by tta.: < Supervise x AFFIDAVIT'AS TO NO CONFLICT OF INTEREST STATE OF NEW YORK :ss: COUNTY OF SUFFOLK Judith 1'. Terry, being duly sworn upon his/her oath deposes and says: (1) I am the duly appointed, qualified and acting Town Clerk of the Town of Southold, in the County of Suffolk, New York (herein and in Schedule A annexed hereto called "Town"); (2) That with respect to the contract of sale of the Note of the Town described in the Certificate of Determination executed by the Supervisor on the tenth day of June, 1988, to the financial institution indicated in such Certificate, I have made a careful inquiry of each officer and employee of the Town having the power or duty to (a) negotiate, prepare, authorize or approve the contract or authorize or approve payment thereunder, (b) audit bills or claims under the contract, or (c) appoint an officer or employee who has any of the powers or duties set forth above, as to whether or not such officer or employee has an interest (as defined pursuant to Article 18 of the General Municipal Law) in such contract; (3) That upon information and belief, as a result of such inquiry, no such officer or employee has any such interest in said contract unless otherwise noted in Schedule A annexed hereto and by this reference made a part hereof. ,��ii0 �_ Subscribed and sworn to before me this tenth day of June, 1988. Notary Public, St:'te of New York LINDA J. COOPER Notary Public, State of New Ylxk No. 4822563, Suffolk County x Term Expires December 31, 19 SCHEDULE A 1. , is a stockholder of the Purchaser owning or controlling, directly or indirectly, less than five per centum (5%) of the outstanding stock thereof but no disclosure of such interest by said officer is required pursuant to said Law. 2. , has an interest in the Purchaser solely by reason of employment as an officer or employee thereof, but the remuneration of such employment will not be directly affected as a result of said contract and the duties of such employment do not directly involve the procurement, preparation or performance of any such part of such contract. 3. , has publicly disclosed the nature and extent of such interest in writing to the governing board of the Town. Such written disclosure has been made a part of and set forth in the official record of proceedings of the Town. i CERTIFICATE OF DETERMINATION BY THE SUPERVISOR RELATIVE TO AUTHORIZATION, SALE, ISSUANCE, FORM AND CONTENTS OF A $31,600 BOND ANTICIPATION NOTE FOR STREET SWEEPER -1988 OF THE TOWN OF SOUTHOLD, NEW YORK. I, Francais J. Murphy, Supervisor'of the Town of Southold, New York (herein called the "Town"), HEREBY CERTIFY that pursuant to the powers and duties delegated to me, the chief fiscal officer of: the Town, by the Town Board of the Town, pursuant to the resolution duly adopted and as referred to in paragraph 1 hereof, and subject to the limitations prescribed in said resolution, I have made the following determinations: 1. A bond anticipation note (the "Note") of the Town in the principal amount of $31,600 shall be issued in anticipation of the sale of serial bonds authorized pursuant to the resolution entitled: "Bond Resolution of the Town of Southold, New York, adopted March 12, 1985 and amended April 23, 1985, authorizing (a) acquisition of a new diesel powered mobile road sweeper, and (B) trade-in of the 1974 road sweeper owned by the Town and application of the $2,000 trade-in value towards the cost of such mobile road sweeper for use by the Town, stating the estimated maximum cost thereof is $85,000, appropriating said amount therefor, and authorizing the issuance of $83,000 serial bonds of said Town to finance said appropriation," duly adopted by the Town Board on the date therein referred to. 2. The terms, form and details of said Note shall be as follows: Amount and Title: $31,600 Bond Anticipation Note for Street Sweeper -1988 Dated: Matures: Number and Denomination: Interest Rate per annum: June 10, 1988 June 9, 1989 Number 3R-1, at $31,600 5.38% I Form of Note: Substantially in accordance with form prescribed by Schedule B, 2 of the Local Finance Law of the State of New York. 3. Said Note is issued to renew, in part, a note or notes in the amount of $47,400 maturing on June 10, 1988, the redemption thereof having been provided to the extent of $15,800 from a source other than the proceeds of serial bonds. 4. The amount of bond anticipation notes originally issued in anticipation of the issuance of serial bonds authorized pursuant to the resolution referred to in paragraph 1 hereof, including the Note, is $79,000, and the amount of bond anticipation notes which will be outstanding after the issuance of the Note, including said Note will be $31,600. 5. The serial bonds authorized pursuant to the resolution referred to in paragraph 1 hereof are for an improvement whichis non -assessable. 6. Said Note is hereby designated a "qualified tax- exempt obligation" pursuant to the provisions of the Internal Revenue Code of 1986, as amended (the "Code"). In making such designation I have determined that: (a) the Town does not reasonably anticipate that the amount of "qualified tax-exempt obligations" to be issued by the Town during the current calendar year will exceed $10,000,000; and (b) the! amount of "qualified tax-exempt obligations" issued by the! Town during the current calendar year does not as of this date, and including this issue, exceed $10,000,000. 7. Pursuant to said powers and duties delegated to me, I DO HEREBY AWARLI AND SELL said Note as follows: to The Bank of New York, Greenport, New York, for the purchase price of $31,600, plus accrued interest, if any, from the date of said Note to the date of delivery thereof, and I FURTHER DETERMINE that said Note shall be payable as to both principal and interest at The Bank of New York, Greenport, New York, and shall bear interest at the rate of five and thirty-eight hundredths per centum (5.38%) per annum, payable at maturity. B. Said Note shall be executed in the name of the Town by its Supervisor and the corporate seal of the Town shall be affixed thereto and attested by its Town Clerk. 1 I HEREBY FURTHER CERTIFY that the powers and duties delegated to me to issue and sell the Note hereinabove referred to are in full force and effect and have not been modified, amended or revoked. IN WITNESS WHEREOF, I have hereuntq., et my hand this tenth day of June, 1988. sor t 0 CLERK'S CERTIFICATE I, Judith T. Terry, Town Clerk of the Town of Southold, in the County of Suffolk, New York, HEREBY CERTIFY that I have compared the foregoing copy of the Certificate of Determination executed by the Supervisor and the same is a true and complete copy of the Certificate filed with said Town in my office as Town Clerk on the tenth day of June, 1988; and I FURTHER CERTIFY that no resolution electing to reassume any of the powers or duties mentioned in said Certificate and delegated to the Supervisor by the resolution cited in said Certificate has been adopted by said Town Board. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of said Town this tenth day of June, 1988. (SEAL) Town Clerk w ARBITRAGE AND USE OF PROCEEDS CERTIFICATE I, Francis J. Murphy, Supervisor of the Town of Southold (the "Town"), in -the County of Suffolk, New York, HEREBY CERTIFY and reasonably expect with respect to the issuance of the $31,600 Bond Anticipation Note for Street Sweeper -1988 (the "Note") of the Town, dated June 10, 1988, as follows: 1. The Town is a governmental unit with general taxing powers. 2. The Note does not constitute a "private activity bond" as that term is defined in Section 141 of the Internal Revenue Code of 1986, as amended (the "Code"). 3. Ninety-five percent or more of the net proceeds of the sale of the Note are to be used for local governmental activities of the Town. 4. The Town reasonably expects that the aggregate face amount of all tax-exempt bonds issued by the Town during the current calendar year will not exceed $5,000,000. 5. The proceeds of sale of the Note will be used together with other funds of the Town in the amount of $15,800 to redeem a prior issue (the "Prior Issue") in the amount of $47,400 heretofore issued to provide funds for the purpose described (the "Project") in the resolution entitled: "Bond Resolution of the Town of Southold, New York, adopted March 12, 1985 and amended April 23, 1985, authorizing (a) acquisition of a new diesel powered mobile road sweeper, and (B) trade-in of the 1974 road sweeper owned by the Town and application of the $2,000 trade-in value towards the cost of such mobile road sweeper for use by the Town, stating the estimated maximum cost thereof is $85,000, appropriating said amount therefor, and authorizing the issuance of $83,000 serial bonds of said Town to finance said appropriation," adopted by the Town Board of the Town on the date therein referred to. 6. Bond anticipation notes in the aggregate amount of $79,000 have been originally issued in anticipation of the sale of serial bonds authorized to be issued for the Project pursuant to the bond resolution hereinabove cited in paragraph 5 hereof. 7. A1]. of the proceeds of the Prior Issue have been expended on the Project within 3 years from the date of issue of the notes originally issued for the Project, or, any proceeds of the Prior Issue which were not expended on the Project within the above-mentioned period were not invested at a yield which is higher than the yield on the Prior Issue. Proceeds of the Prior Issue which shall become "transferred proceeds" of the Notes shall not be invested at a yield which is higher than the yield on the Note. B. The total proceeds of sale of all bond anticipation notes issued to date for the Project do not exceed the total cost of the Project. 9. The Project will not be sold or otherwise disposed of in whole or in part except for incidental sales of surplus items the proceeds of which will•not constitute net operating profits or net capital profits to the Town. 10. The Note will be paid from taxes and the proceeds of other obligations of the Town issued to fund the Note. 11. The taxes used to pay principal and interest on the Note, whether or not deposited in a debt service fund, will be expended within 13 months of the date of deposit in such fund, or the date of their accumulation, in the payment of debt service on the Note. Any amounts received from the investment of such deposit or accumulation will be expended within one year of receipt. The debt service fund, if any, will be used to achieve a proper matching of revenues and debt service and will be depleted at least annually except for a reasonable carryover amount not to exceed one years earnings on the fund or 1/12 of annual debt service. 12. Except for the debt service fund described herein the Town has not created or established, and does not expect to create or establish, any sinking fund or other similar fund which the Town reasonably expects to use to pay principal or interest on the Note. 13. No portion of the proceeds of the Note will be invested, directly or indirectly, in federally insured deposits or accounts other• than investments of a debt service fund or investments for an initial temporary period. 14. At least 90 percent of the proceeds of the Note will be used to finance property which is: (a) available for use by the general public on an equal basis; (b) used by qualified governmental units or by the employees of such units; or (c) used by nongovernmental persons pursuant to contracts or agreements which provide that (i) at least 50 percent of the compensation paid to the service provider (other than a governmental unit) is on a periodic, fixed -fee basis; (ii) no amount of compensation is based on a share of net profits; (iii) the Town may terminate the contract (without penalty) at the end of any 3 year period; and (iv) the term, including renewal options, does not exceed 5 years. 15. No more than 5 percent of the proceeds of the Note will be used to finance property used by a nongovernmental person in a trade or business which is unrelated to the governmental use of the property referred to in paragraph 14 above. 16. No more than 5 percent of the proceeds of the Note is allocable to any disproportionate related private business use. For purposes of this Arbitrage and Use 'of Proceeds Certificate, Note proceeds are allocable to a disproportionate related private business use to the extent that the proceeds of the Note which are to be used to finance property used by a nongovernmental person in a trade or business which is related to the governmental use of the property referred to in paragraph 14, above, exceeds the proceeds of the Note which are to be used for the governmental use to which such private trade or business use relates. 17. The Town has not received notice that it has been listed by the Commissioner of Internal Revenue as an issuer that may not certify :its obligations, nor has it been advised that the Commissioner is contemplating listing the Town as a governmental unit that may not: certify its obligations. On the basis of the foregoing, it is not expected that the proceeds of sale of the Note will be used in a manner that would cause the Note to be an "arbitrage bond" under Section 148 of the Code and the Income Tax Regulations prescribed thereunder. To the best of my knowledge and belief, there are no other facts, estimates or circumstances that would materially change the foregoing conclusion. I am one of the officers of the Town of Southold charged by the resolution of the Town Board of said Town hereinabove cited in paragraph 5 hereof with the responsibility for issuing the Note and, as such, am an official whose certification may be relied upon as the certification of the Town as referred to in Section 148 of the Code, and Sections 1.103-13, 1.103-14 and 1.103-15 of the ]Income Tax Regulations thereunder. Neither I nor the Town has been notified or advised by the Internal Revenue Service of any contemplated publication of a notice in the Internal Revenue Bulletin that the certification of the Town as to arbitrage status may no longer be relied upon by purchasers of its bonds or notes. This certification has been delivered as part of the record of proceedings and accompanying certificates with respect to the issuance of the Note and the provisions of this certificate constitute a contractual obligation of the Town in consideration for the purchase of and payment for the Note by the purchaser(s) thereof. (SEAL) IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of the Town of Southold this tenth day of June '1 /71; _ visor CERTIFICATES'AS TO SIGNATURES, LITIGATION, AND DELIVERY AND PAYMENT WE, the undersigned officers of the Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York and herein referred to as the "Town", HEREBY CERTIFY, that on or before June 10, 1988, we officially signed and properly executed by manual signatures a $31,600 Bond Anticipation Note for Street Sweeper -1988 (the "Note") of the Town, payable to ;bearer and otherwise described in Schedule A annexed hereto and by this reference made a part hereof, and that at the time of such signing and execution and on the date hereof we were and are the duly chosen, qualified and acting officers of the Town authorized to execute said Note and holding the respective offices indicated by the titles set opposite our signatures hereto for terms expiring on the respective dates set opposite such titles. WE FURTHER CERTIFY that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of said Note or the levy or collection of any taxes to pay the interest on or principal of said Note, or in any manner questioning the authority or proceedings for the issuance of said Note or for the levy or collection of said taxes, or relating to said Note or affecting the validity thereof or the levy or collection of said taxes, that neither the corporate existence or boundaries of the Town nor the title of any of the present officers thereof to their respective offices is being contested, and that no authority or proceedings for the issuance of said Note has or have been repealed, revoked or rescinded. WE FURTHER CERTIFY that the seal which is impressed upon this certificate has been affixed, impressed, imprinted or otherwise reproduced upon said Note and is the legally adopted, proper and only official corporate seal of the Town. And, I, Francis J. Murphy, Supervisor, HEREBY FURTHER CERTIFY that on June 10, 1988, I delivered said Note to The Bank of New York, Greenport, New York, the purchaser thereof, and that at the time of such delivery of said Note, I received from said purchaser the amount hereinbelow stated, in full payment for said Note, computed as follows: Pri.ce ............................... $31,600 Interest on said Note accrued to the date of such delivery ............. -0- Amount Received ..................... $31,600 (SEAL) IN WITNESS WHEREOF, we have hereunto set our hands and said corporate seal has hereunto been affixed this tenth day of June, 1988. Term of Office Expires Title ember 31, 1989 Supervisor ember 31, 1989 Town Clerk I HEREBY CERTIFY that the signatures of the officers of the above-named Town, which appear above, are true and genuine and that I know said officers and know them to hold the respective offices set opposite their signatures. v � L of Signature Tit Name ofR#nk ATTORNEY'S CERTIFICATE I, James Schondebare, HEREBY CERTIFY that I am a licensed attorney at law of the State of New York having offices at 53095 Main Road, Southold, New York, and am the duly chosen, qualified and acting Town Attorney of the Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York and herein referred to as the "Town", that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of the Note of the Town, payable to bearer and otherwise described as set forth in Schedule A annexed hereto and by this reference made a part hereof or the levy or collection of any taxes to pay the interest on or principal of said Note, or in any manner questioning the authority or proceedings for the issuance of said Note or for the levy or collection of said taxes, or relating to said Note or affecting the validity thereof or the levy or collection of said taxes, that neither the corporate existence or boundaries of the Town nor the title of any of the present officers thereof to their respective offices is being contested, and that no authority or proceedings for the issuance of said Note has or have been repealed, revoked or rescinded. IN WITNESS WHEREOF, I have hereunto set my hand this tenth day of June, 1988. fi J i Attorney SCHEDULE A Amount and Title: $31,600 Bond Anticipation Note for Street Sweeper -1988 Dated: June 10, 1988 Matures: June 9, 1989 Number and Denomination: Number 3R-1, at $31,600 Interest Rate per annum: 5.38% NOFRTFI� II � • FO.�KLS CiANI< The North Fork Bank & Trust Co. Subsidiary o/ North Fork Bancorporation, Inc. Home Office: Mattituck, New York 11952 June 13, 1988 Ms. Judith T. Terry, Town Clerk Town of Southold Main Road Southold, New York 11971 Dear Ms. Terry: "Ift JUN 15 W Sa0'4,,1,4 rtrrk Enclosed please find paid $47,400.00 Town of Southold Bond Anticipation Note for Street Sweeper - 1987 No. R-2 @4.30%, dated June 12, 1987, matured June 10, 1988. Please acknowledge receipt of the above by signing and returning the enclosed copy of this letter. Thank you. Very truly yours, Irene Jackows Manager, Fina ce Division ij Encs. R- 2 $ 47, 400.00 UNITED STATES OF AMERICA STATE OF NEW YORK COUNTY CF SUFFOLK TOWN OF.SOUTHOLD BOND ANTICIPATION NOTE FOR STREET SWEEPER - 1987 The Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York, hereby acknowledges itself indebted and for value received promises to pay to the bearer of this Note, or if it be registered, to the registered holder, the sum of Forty-seven Thousand Four Hundred 00/100------------------ ----------------------------------------------Dollars ($47,400.00 ---------- ) on the 10th day of June , 1988, together with interest thereon from the date hereof at the rate of Four and 30/100 ----------------------------------- per centum (4.30% ) per annum, payable at maturity. Both principal of and interest on this Note will be paid in lawful money of the United States; of America at The North Fork Bank S Trust Company, Mattituck, New York. ` At the request of the holder, the Town Clerk shall convert this Note into a registered Note by resgistering in the name of the holder in the books of the Town kept in the office of such Town Clerk and endorsing a certificate of such registration hereon, after which both principal of and interest on this Note shall be payable only to the registered. holder, his legal representatives, successors or transferees. This Note shall then be transferable only upon presentation to such Town Clerk with a written transfer of title and such Town Clerk shall thereupon register this Note in the name of the transferee in his books and shall endorse a certificate of such registration hereon. Such transfer shall be dated, and signed by the registered. holder, or his legal representatives, and it shall be duly acknowledged or proved, or in the alternative the signature thereto shall be certified as to its genuineness by an officer of a bank or trust company located and authorized to do business in this State. This Note is the only note of an authorized issue, the principal amount of which is $47,400.00. This note is issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York, the bond resolution adopted by the Town Board on March 12, 1985 and amended April 23, 1985, authorizing the issuance of $83,000 serial bonds for the acqui- sition of a new road=,'sweeper aid 'tID trade-ir. ,;-: a road sweeper owned by the Town, and the Cerkificate al a mination executed by �he Town Supervisor on June 13, 1985. b The faith and credit of such Town of Southold is hereby irrevocably pledged for the punctual payment of the principal of and interest on said Note according to its terms. It is hereby certified and recited that all conditions, accts, 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 this note, together with all other indebtedness of such Town of Southold is within every debt and other limit prescribed by the Constitution and Laws of such State. N WITNESS WHEREOF, the Town of Southold has caused this Note to be signed by its Supervisor, and its corporate seal to be hereunto affixed and attested by its Town Clerk and this Note to be dated as of the 12th day of June, 1987. ATTEST: Town Clerk/ 0 9 CERTIFICATE OF DETERMINATION BY THE SUPERVISOR RELATIVE TO THE AUTHORIZATION, SALE, ISSUANCE, FORM AND CONTENT OF A $47,400.00 BOND ANTICIPA- TION NOTE FOR STREET SWEEPER - 1987 OF THE TOWN OF SOUTHOLD, SUFFOLK COUNTY, NEW YORK I, FRANCIS J. MURPHY, Supervisor of the Town of Southold, in the County of Suffolk and State of New York (herein called "Town") HEREBY CE=RTIFY that pursuant to the powers anc' :duties delegated to me, the chief fiscal officer of the Town by the Town Board pursuant to the resolution duly adopted as set forth below, and subject to the limitations prescribed in said resolution, I have made the following determinations: 1. A Bond Anticipation Note of the Town in the principal amount of shall be issued to renew, in part, the $63,200.00 Bond Anticipation Note for the purchase of a street sweeper, dated June 12, 1985, maturing June 13, 1986 and heretofore issued in anticipation of the sale of serial bunds authorized pursuant to the resolution entitled: "Bond Resolution of the Town of Southold, New York, adopted March 12, 1985 and amended April 23, 1985, authorizing (A) acquisition of a new diesel powered mobile road sweeper, and (B) trade-in of the 1974 road sweeper owned by the Town and application of the $2,000.00 trade-in value towards the cost of such mobile road sweeper for use by the Town, stating the estimated maximum cost thereof is $85,000, appropriating said amount therefor, and authorizing the issuance of $83,000 serial bonds of said Town to finance said appropriation." duly adopted by the Town Board on the date therein referred to, the redemption of said $ 63, 200.00 Bond Anticipation Note having been heretofore provided to the extent of $15,800.00 from a source other than the proceeds of said bonds. 2. The terms, form and details of said renewal Note, shall he as follows: Amount and Title Dated: Matures: No. R-2 $47,400.00 Bond Anticipation Note for purchase of street sweeper - 1987 June 12, 1987 June 10, 1988 Denomination: $47,400.00 Interest Rates: 4.30% Payment of principal and interest: The North Fork Bank 8 Trust Co. Mattituck. New York Form of Note: Substantially in accordance with form prescribed by Schedule B,2 of the Local Finance Law of the State of New York. 3. Said Note is a renewal Note. 4. Said Note is issued in anticipation of bonds for nonassessable improvement. 5. The original Note, of which this Note is a renewal, was issued on June 13, 1985. 6. The amount of bond anticipation notes heretofore issued in anticipation of the said $79,000.00 serial bond is $79,000.00, $47,400.00 of which is outstanding. 7. Pursuant to said powers and duties delegated to me, I DO HEREBY AWARD AND SELL said Note to The North Fork Bank & Trust Co., Mattituck, New York, for the purchase of $47,400.00 plus accrued interest, if any, from the date of said Note to the date of payment of the purchase price, and I FURTHER DETERMINE that said Note so awarded shall bear interest at the rate of Four and 30/100---------------- per centum 4.30 % per annum, payable at maturity. 8. Said Note herein authorized shall be executed in the name of the Town by its Supervisor and the corporate seal of the Town shall be affixed thereto and attested by its Town Clerk. I HEREBY FURTHER CERTIFY that every power delegated to me to issue and sell the Note hereinabove described is in full force and effect and has not been modified, amended, or revoked. IN WITNESS WHEREOF, I have hereunto set my hand this 12th day of June, 1987. -2- CLERK'S CERTIFICATE I, JUDITH T. TERRY, Town Clerk of the Town of Southold, in the County of Suffolk, State of New York, HEREBY CERTIFY that I have compared the foregoing copy of Certificate of the Supervisor and the same is a true end complete copy of the Certificate filed with said Town Board in my office as Town Clerk on I FURTHER CERTIFY that no resolution electing to reassume any of the powers or duties mentioned in said Certificate and delegated to the Supervisor by the resolution cited in said Certificate has been adopted by said Town Board. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of said Town this 12th day of June 198 7. Judith T. Terry (SEAL) STATE OF NEW YORK) ss, COUNTY OF SUFFOLK) JUDITH T. TERRY, being duly sworn upon her oath, deposes and says: (1) 1 am the duly appointed, qualified and acting Town Clerk of the Town of Southold, in the County of Suffolk, New York (herein and in Schedule A called "Issuer") : (2) That with respect to the contract.of sale.of the following described obligation of the issuer to the North Fork Bank 5 Trust Co., Mattituck, N.Y. (in Schedule A called "Purchaser"), I have made a careful inquiry of each officer and employee of the Issuer having the power or duty to (a) negotiate, prepare, authorize or approve the contract or authorize or approve payment thereunder, (b) audit the bills or claims under the contract, or (c) appoint an officer or employee who has any of the powers or duties set forth above, as to whether or not such officer or employee has an interest (as defined pursuant to Article 18 of the General Municipal Law) in such contract: Amount and Title: $47,400.00 Bond Anticipation Note for street sweeper - 1987 Dated: June 12, 1987 Matures: June 10, 1988 No. R- 2 Denomination: $47,400.00 Interest Rate: 4.30% (3) That upon information and belief, as a result of such inquiry, no such officer or employee has any such interest in said contract, unless otherwise noted in Schedule A annexed hereto and by this reference made a part hereof. U Ith T. Terry, 'Town ClerR Subscribed and sworn to before me this 12th day of June , 1987. ary Public c ? ANN NEViLLE' '' otary Public, State of New York No. 52-8125850, Suffolk Cou Term Expires October 31, 19 9 SCHEDULE A 1. , is a stockholder of the Purchaser owning or controlling, directly or indirectly, less than five per centum (5%) of the outstanding stock thereof but no disclosure of such interest by said officer is required pursuant to said Law; 2. has an interest in the Purchaser solely by reason of employment as an officer or employee thereof, but the remuneration of such employment will not be directly affected as a result of said contract and the duties of such employment do not directly involve the procurement, preparation, or performance of any such part of such contract. , has publicly disclosed the nature and extent of such interest in writing to the governing board of the Town. Such written disclosure has been made a part of and set forth in the official record of proceedings of the Town. 0 ATTORNEY'S CERTIFICATE 9 I, FRANCIS J. YAKABOSKI, HEREBY CERTIFY that 1 am a licensed attorney law of the State of New York having offices at 456 Griffing Avenue, Riverhead, in said State, and am duly chosen, qualified and acting Of Counsel to the Town Attorney of the Town of Southold, in the County of Suffolk, a muni- cipal corporation of said State and herein referred to as the "Issuer", that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of the notes of the Issuer, each payable to bearer and all otehrwise described as set forth in Schedule A, annexed hereto and by this reference made a part hereof, or the levy or collection of any taxes to pay the interest on or principal of said notes or for the levy or collection of said taxes, or relating to said notes or affecting the validity thereof or the levy or collection of said taxes, that neither corporate existence or boundaries of the Issuer nor the title of any of the present officers thereof to their respective offices is being contested, and that no authority or proceedings for the issuance of said notes has or have been repealed, revoked or rescinded. IN WITNESS WHEREOF, I have hereunto set my hand this 12th day of June, 1987. Amount and Title: Dated Matures: Number and denomination: Actin n ttorney $47,400.00 Bond Anticipation Note for Street Sweeper - 1987 June 12, 1987 June 10, 1988 R-2 R47, 400.00 Interest Rate and Payment Dated: 4.30% per annum; payable at maturity v � • CLOSING CERTIFICATES Relating to Notes of TOWN OF SOUTHOLD, NEW YORK CERTIFICATES AS TO SIGNATURES, LITIGATION AND DELIVERY AND PAYMENT WE, the undersigned officers of the Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York and herein referred to as the "Issuer", HEREBY CERTIFY that on the 12th day of June 1987, we officially signed and properly executed by manual signatures principal amount of notes of the issuer, each payable to bearer and all otherwise described as set forth in Schedule A annexed hereto and by this reference made a part hereof, and that at the time of such signing and execution and on the date hereof we were and are the duly chosen, qualified and acting officers of the Issuer authorized to execute said notes and holding the respective offices indicated by the official titles set opposite our signatures hereto for terms expiring on the respective dates set opposite such titles. WE FURTHER CERTIFY that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of said notes or the levy or collection of any taxes to pay the interest on or principal of said issuance of said notes or for the levy or collection of said taxes, that neither the corporate existence or boundaries of the Issuer nor the title of any of the present officers thereof to their respective offices is being contested and that no authority or proceedings for the issuance of said notes has or have been repealed, revoked or rescinded. WE FURTHER CERTIFY that seal which is impressed upon this certificate has been affixed by impression upon each of said notes and is the legally adopted proper and only official corporate seal of the Issuer. AND, I, the undersigned Supervisor of the Issuer, HEREBY FURTHER CERTIFY that on the 12th' day of June , 1987, 1 delivered said notes to the North Fork Bank & Trust Co., Mattituck,' New York, the purchaser hereof, and that at the time of such delivery of said notes, I received from said purchaser the amount hereinbelow stated, in full payment of said notes computed as follows: Price $47,400.00 Interest of said notes accrued to date of delivery -0= Amount received • $47,400.00 IN WITNESS WHEREOF, we have hereunto set our hand and said corporate this 12th day of June , 1987. Official Title Supervisor Town Clerk Term of Office Expires December 31, 1987 December 31, 1989 the signatures of the officers of the above named Issuer, which appear above, are true and genuine and that I know said officers pnd know them to hold the respective offices set opposite their several signatures. —4 / fl /1 / l . IL n — 4 _ The North Fork Bank & Trust Co. gnaturej t i itie A s Farm r 0 3-G (Deceri:�er .98FN Department of the Treasury Infernar Revenue Strvice r J Reporting, Authorit I issuar t name 3 Number and street S C,tr or to -n stale Ana 11P cone Information Return for Tax -Exempt Governmental Bond Issues ► under section 149(e) (Use Form 8038 -GC It issue price is under $100.000.) OMB No :545 0720 EAprref 12-31-89 Check box It Amended Return ► I 2 Muer s tmpfoyer Ctntfiulwn numoer 11-6001939 4 Rtoort numoer C198 _— Dale of ,uue '+LL r ypc ut Issue tcnecu oox(es) inat applies) 7 Check box If fonds are tax or other revenue anticipation bonds ► ❑ 8 Check box if bonds are In the form of a lease or Installment sale ► ❑ 9 ❑ Education . . . . . . 10 ❑ Health and hospital 11 ❑ Transportation 12 ❑ Public safety 13 ❑ Environment (Including sewage bonds) 14 ❑ Housing . . . . . 15 ❑ Utilities . . . . . . . . . . . . . 16 ❑ Other. Describe (see Instructions) ► . . . . scriptfon of Bonds (a) Maturity dale 101I (c) I (d) (t1 — __ interest Batt issue 311ce I 17 Final maturity stale'aredemol'on Wersnted Once al n^Jlurrt 1„!ra maturity i 1 S1 18 Entire Issue /i /. /'� '-/ /, /;ii i/, %' -� years I Uses of Original Proceeds of Issue (including underwriters' discount) 19 Proceeds usea for accrued interest 20 Proceeds used for bond Issuance costs (Including uncerwnters discount) 21 Proceeds used for credit enhancement . . . 22 Proceeds allocated to reasonably required reserve or replacement fund 23 Proceeds used to refund prior issues 24 Nonrefundina, oroceeds of the Issue (subtract lines 20 21. 22 and 23 from line 18 column (c)) Description of Refunded Bonds (complete this part only for refunding bonds) 25 Enter the remaining weighted average maturity of the bonds to be refunded ► 26 Enter the last date on which the refunded bonds will be caned ► 27 Enter the date(s) the refunded bonds were Issued P, L= Miscellaneous ILIUS Price In I (u Net rmerest Yield coat I 19 1 20 1 21 1 22 23 1 24 1 years 28 Enter the amount (If any) of the state volume Cap allocated to this Issue 10129 Arbitrage rebate: a Check box If the small governmental unit exception to the arbitrage rebate requirement appbes b Check box It the 6 -month temporary investment exception to the arbitrage rebate requirement Is expected to apply c Check box It you expect to earn and rebate arbitrage prOhts to the U S 30 Enter the amount of the bonds designated by the .ssuer once, settlor. 265(b)(3)(a)(II) ► 31 Pooled financings. a Check box If any of the proceeds of this Issue are t0 be used to maike loans to other governmental units ► ❑ and enter the amount ► b Check box If INS Issue is a loan made from the proceeds of another ;ax exempt issue ► ❑ ,and enter the name of Ine Issuer P. _ _ and the date Of the Issue I. Unoe, of names oA•Uer ,r ry AIteO p In's refern Ana ACC-ampanyrng scr,e0� es Ana SUfem nls an0 to In Please I trier Arr trutwCb--e n t e Desi of my .no.-ecye J^c Or Sign ;Here I, s,a e1 of uN,6? Sue)(, T -v i r Dere � Ttie For Paperwork Re urns CrYeT see page l of the Instructions. ram 8038•G • QUALIFIED TAX-EXEMPT OBLIGATION DESIGNATION CERTIFICATE 9 $47,400.00 BOND ANTICIPATION NOTE, 1987 1, the undersigned Supervisor of the Town of Southold, Suffolk County, New York (the "Issuer"), as Chief Fiscal Officer of the Township, do hereby: 1) certify that I am responsible, with others, for issuing the above- mentined note of the Issuer; 2) designate such note as a "qualified tax-exempt obligation" pursuant to Section 265(b) (3) (B) (ii) of the Internal Revenue Code of 1986 (the "Code"); and 3) certify, in furtherance of the aforesaid designation, that (a ) the amount of "qualified tax-exempt obligations", within the meaning of Section 265(b) (3) of the Code, which are reasonably anticipated to be issued by the Issuer, including issues of all governmental entities subordinate to the Issuer, if any, during the current calendar year, does not exceed $10,000,000; and (b) the sum of the principal amount of the note and the principal amount of any other tax- exempt obligations heretofore issued by the Issuer during the current calendar year, does not exceed $10,000,000. IN WITNESS WHEREOF, I have hereunto set my haryd on June 12, 1987. OFFIC : �`"' ' w ORNEY ROBERT W. TASKER T :�;Q D TELEPHONE Town Attorney OQ (516) 477-1400 1 > 425 MAIN STREET • P.O. BOX 697 GREENPORT, L.I., NEW YORK 11944 June 15, 1987 The Town Board of the Town of Southold Town Hall, Main Road Southold, New York 11971 Dear Sirs: I have examined a record of proceedings relating to the issuance of a $7-9,000.00 Bond Anticipation Note for Street Sweeper- -- 1987 of the Town of Southood, in the County of Suffolk, a municipal corporation of the State of New York. Said Note is dated June 12, 1987, matures June 10, 1988, is num- bered R-2, bears interest ar the rate of four and thirty hundredths (4.30$) per centum per annum, payable at maturity, is of the denomination of $47,400.00, is payable to bearer without coupons and registerable as to both principal and interest, is issued pursuant to the provisions of the Local Finance Law, con- stituting Chapter 33-a of the Consolidated Laws of the State of New York, the bond resolution adopted by the Town Board on March 12, 1985 and amended April 23, 1985; authorizing the issuance of $83,000 serial bonds for the acquisition of a new road sweeper and the trade-in of a road sweeper owned by the Town, and the Certificate of Determination executed by teh Supervisor on June 13, 1985. Said Bond Anticipation Note is a temporary obligation issued in anti- cipation of the sale of permanent serial bonds. In my opinion, the Note is a valid and legally binding general obliga- tion of the Town for which the Town has validly pledged its faith and credit and, unless paid from other sources, all the taxable real property within the Town is subject to the imposition of ad valorem real estate taxes to pay the Note and interest thereon without limitation of rate or amount. The enforceability o f rights or remedies with respect to such Note may be limtied by bankruptcy, insolvency or other laws affecting creditors' right or remedies heretofore or here- after enacted. Further, in my opinion, the interest on said Note is exempt under existing statutes from Fedral income taxes, and under existing statutes from New York State and New York City personal income taxes. The Town Board of the Town of Southold June 15, 1987 Page 2 Other than such record of proceedings, I have not been requested to examine or review and have not examined or reviewed the accuracy or sufficiency of any additional proceedings, reports, correspondence, financial statements or otehr documents, containing financial or'other information relative to the Town, which have been or may hereafter be furnished or disclosed to purchaser of said Note and I express no opinion with respect to any such financial or other information or the accuracy or sufficiency thereof. The form of said note is prescribed by Schedule B,2 of the Local Finance Law of the State of New York. Yours very truly, SMITH, FINKELSTEIN, LUNDBERG, ISLER AND YAKABOSKI Of Counsel to Robert W. Tasker owl NOM I Formic BANK The North Fork Bank & Trust Co. Subsidiary o/ North Fork Bancorporation, Inc. Home Office: Mattituck, New York 11952 May 31, 1988 Town of Southold 53095 Main Road Southold, New York 11971 Gentlemen: Sew *10-+ T^v,^ r6tk On June 10, 1988 there will be due this office the sum of $49,426.88 in accordance with the following statement: Town of Southold Bond Anticipation Note @4.30% dated 6/12/87 Principal due ------------------------------ $47,400.00 Interest due------------------------------- 2,026.83 TOTAL DUE ---------------------------------- $49,426.83 Thank you. Ver truly yours, rene Jacko i Manager, Finance Division ij SMITH, FINKELSTEIN, LUNDBERG, ISLER AND YAKABOSKI ATTORNEYS AND COUNSELORS AT LAW 456 GRIFFING AVENUE, CORNER OF LINCOLN STREET P. O. BOX 389 HOWARD M. FINKELSTEIN RIVERHEAD, N.Y. 11901 PIERRE G. LUNDBERG FRANCIS J. YAKABOSKI (516) 727-4100 FRANK A. ISLER SUSAN POST ROGERS RECEIVED JUN i 198 June 15, 1987 sow+ TO,. CW Hon. Francis J. Murphy Supervisor of the Town of Southold Town Hall, Main Road Southold, New York 11971 Re: Sale of $47,400.00 Bond Anticipation Note for Street Sweeper -- 1987 Dear Mr. Murphy: REGINALD C. SMITH 1926-1983 This is to advise you that the above captioned Bond Anticipation Note was sold to the North Fork Bank & Trust Co. on June 12, 1987 at an interest rate of 4.30%. In addition to the North Fork Bank 8 Trust Co., bids were also received from The Bank of New York at 4.49%, Chemical Bank at 4.95%, and Suffolk County National at 5.150. Relative to the sale, I enclose herewith the following: 1. Copy of Bond Anticipation Note 2. Affidavit of Town Clerk relative to conflict of interest 3. Closing certificates 4. Certificate of Determination of Supervisor 5. Supervisor's Qualified Tax-exempt Obligation Designation Certificate 6. Attorney's Certificate 7. Letter of Opinion. Ver truly yours, Fra c s J . os i /jr Enclosures cc: Hon. Judith T. Terry cc: Mr. John Cushman June 15, 1987 The Town Board of the Town of Southold Town Hall, Main Road Southold, New York 11971 Dear Sirs: I have examined a record of proceedings relating to the issuance of a $79, 000.00 Bond Anticipation Note for Street Sweeper -- 1987 of the Town of Southood, in the County of Suffolk, a municipal corporation of the State of New York. Said Note is dated June 12, 1987, matures June 10, 1988, is num- bered R-2, bears interest ar the rate of four and thirty hundredths (4.30$) per centum per annum, payable at maturity, is of the denomination of $47,400.00, is payable to bearer without coupons and registerable as to both principal and interest, is issued pursuant to the provisions of the Local Finance Law, con- stituting Chapter 33-a of the Consolidated Laws of the State of New York, the bond resolution adopted by the Town Board on March 12, 1985 and amended April 23, 1985, authorizing the issuance of $83,000 serial bonds for the acquisition of a new road sweeper and the trade-in of a road sweeper owned by the Town, and the Certificate of Determination executed by teh Supervisor on June 13, 1985. Said Bond Anticipation Note is a temporary obligation issued in anti- cipation of the sale of permanent serial bonds. In my opinion, the Note is a valid and legally binding general obliga- tion of the Town for which the Town has validly pledged its faith and credit and, unless paid from other sources, all the taxable real property within the Town is subject to the imposition of ad valorem real estate taxes to pay the Note and interest thereon without limitation of rate or amount. The enforceability o f rights or remedies with respect to such Note may be lirntied by bankruptcy, insolvency or other laws affecting creditors' right or remedies heretofore or here- after enacted. Further, in my opinion, the interest on said Note is exempt under existing statutes from Fedral income taxes, and under existing statutes from New York State and New York City personal income taxes. i 0 The Town Board of the Town of Southold June 15, 1987 Page 2 Other than such record of proceedings, I have not been requested to examine or review and have not examined or reviewed the accuracy or sufficiency of any additional proceedings, reports, correspondence, financial statements or otehr documents, containing financial or other information relative to the Town, which have been or may hereafter be furnished or disclosed to purchaser of said Note and I express no opinion with respect to any such financial or other information or the accuracy or sufficiency thereof. The form of said note is prescribed by Schedule B,2 of the Local Finance Law of the State of New York. Yours very truly, SMITH, FINKELSTEIN, LUNDBERG, ISLER AND YAKABOSKI • 0 $ 47, 400.00 UNITED STATES OF AMERICA STATE OF NEW YORK COUNTY CF SUFFOLK TOWN OF.SOUTHOLD BOND ANTICIPATION NOTE FOR STREET SWEEPER - 1987 The Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York, hereby acknowledges itself indebted and for value received promises to pay to the bearer of this Note, or if it be registered, to the registered holder, the sum of Forty-seven Thousand Four Hundred 00/100------------------ ------------------------ ----------------- ----------------------1-----------------------Dollars ($47,L100.00 ---------- ) on the 10th day of June , 1988, together with interest thereon from the date hereof at the rate of Four and 30/100 ------------------------------------ per centum (4.30% ) per annum, payable at maturity. Both principal of and interest on this Note will be paid in lawful money of the United States of America at The North Fork Bank & Trust Company, Matt.ituck, New York. ` At the request of the holder, the Town Clerk shall convert this Note into a registered Note by resgistering in the name of the holder in the books of the Town kept in the office of such Town Clerk and endorsing a certificate of such registration hereon, after which both principal of and interest on this Note shall be payable only to the registered. holder, his legal representatives, successors or transferees. This Note shall then be transferable only upon presentation to such Town Clerk with a written transfer of title and such Town Clerk shall thereupon register this Note in the name of the transferee in his books and shall endorse a certificate of such registration hereon. Such transfer shall be dated, and signed by the registered. holder, or his legal representatives, and it shall be duly acknowledged or proved, or in the alternative the signature thereto shall be certified as to its genuineness by an officer of a bank or trust company located and authorized to do business in this State. This Note is the only note of an authorized issue, the principal amount of which is $47,400.00. This note is issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York, the bond resolution adopted by the Town Board on March 12, 1985 and amended April 23, 1985, authorizing the issuance of $83,000 serial bonds for the acqui- sition of a new road -sweeper and the trade -ire ,i:'s a road sweeper owned by the Town, and the Certificate of Determination executed by ;_he Town Supervisor on June 13, 1985. The faith and credit of such Town of Southold is hereby irrevocably pledged for the punctual payment of the principal of and interest on :said Note according to its terms. It is hereby certified and recited that all conditions, accts, 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 this note, together with all other indebtedness of such Town of Southold is within every debt and other limit prescribed by the Constitution and Laws of such State. IN WITNESS WHEREOF, the Town of Southold has caused this Note to be signed by its Supervisor, and its corporate seal to be hereunto affixed and attested by its Town Clerk and this Note to be dated as of the 12th day of June, 1987. ATTEST: ��—.� Town Clerk i �► CERTIFICATE OF DETERMINATION BY THE SUPERVISOR RELATIVE TO THE AUTHORIZATION, SALE, ISSUANCE, FORM AND CONTENT OF A $47,400.00 BOND ANTICIPA- TION NOTE FOR STREET SWEEPER - 1987 OF THE TOWN OF SOUTHOLD, SUFFOLK COUNTY, NEW YORK I, FRANCIS J. MURPHY, Supervisor of the Town of Southold, in the County of Suffolk and State of New York (herein called "Town") HEREBY CERTIFY that pursuant to the powers anc' duties delegated to me, the chief fiscal officer of the Town by the Town Board pursuant to the resolution duly adopted as set forth below, and subject to the limitations prescribed in said resolution, I have made the following determinations: 1. A Bond Anticipation Note of the Town in the principal amount of shall be issued to renew, in part, the $63,200.00 Bond Anticipation Note for the purchase of a street sweeper, dated June 12, 1985, maturing June 13, 1986 and heretofore issued in anticipation of the sale of seriJI bonds authorized pursuant to the resolution entitled: "Bond Resolution of the Town of Southold, New York, adopted March 12, 1985 and amended April 23, 1985, authorizing (A) acquisition of a new diesel powered mobile road sweeper, and (B) trade-in of the 1974 road sweeper owned by the Town and application of the $2,000.00 trade-in value towards the cost of such mobile road sweeper for use by the Town, stating the estimated maximum cost thereof is $85,000, appropriating said amount therefor, and authorizing the issuance of $83,000 serial bonds of said Town to finance said appropriation." duly adopted by the Town Board on the date therein referred to, the redemption of said $ 63, 200.00 Bond Anticipation Note having been heretofore provided to the extent of $15,800.00 from a source other than the proceeds of said bonds. 2. The terms, form and details of said renewal Note, Shull her us follows: Amount and Title $47,400.00 Bond Anticipation Note for purchase of street sweeper - 1987 Dated; June 12, 1987 Matures: June 10, 1988 No. R-2 Denomination: $47,400.00 Interest Rates: 4.300 Payment of principal and interest: The North Fork Bank & Trust Co. Mattituck, New York Form of Note: Substantially in accordance with form prescribed by Schedule B,2 of the Local Finance Law of the State of New York. 3. Said Note is a renewal Note. 4. Said Note is issued in anticipation of bonds for nonassessable improvement. 5. The original Note, of which this Note is a renewal, was issued on June 13, 1985. 6. The amount of bond anticipation notes heretofore issued in anticipation of the said $79,000.00 serial bond is $79,000.00, $47,400.00 of which is outstanding. 7. Pursuant to said powers and duties delegated to me, I DO HEREBY AWARD AND SELL said Note to The North Fork Bank S Trust Co., Mattituck, New York, for the purchase of $47,400.00 plus accrued interest, if any, from the date of said Note to the date of payment of the purchase price, and I FURTHER DETERMINE that said Note so awarded shall bear interest at the rate of Four and 30/100---------------- per centum 4.30 o per annum, payable at maturity. 8. Said Note herein authorized shall be executed in the name of the Town by its Supervisor and the corporate seal of the Town shall be affixed thereto and attested by its Town Clerk. I HEREBY FURTHER CERTIFY that every power delegated to me to issue and sell the Note hereinabove described is in full force and effect and has not been modified, amended, or revoked. IN WITNESS WHEREOF, I have hereunto set my hand this 12th day of June, 1987• -2- CLERK'S CERTIFICATE 9 I, JUDITH T. TERRY, Town Clerk of the Town of Southold, in the County of Suffolk, State of New York, HEREBY CERTIFY that I have compared the foregoing copy of Certificate of the Supervisor and the same is a true and complete copy of the Certificate filed with said Town Board in my office as Town Clerk on f I FURTHER CERTIFY that no resolution electing to reassume any of the powers or duties mentioned in said Certificate and delegated to the Supervisor by the resolution cited in said Certificate has been adopted by said Town Board. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of said Town this 12th day of June 1987. Judith T. Terry (SEAL) • STATE OF NEW YORK) COUNTY OF SUFFOLK) ss. JUDITH T. TERRY, being duly sworn upon her oath, deposes and says: (1) 1 am the duly appointed, qualified and acting Town Clerk of the Town of Southold, in the County of Suffolk, New York (herein and in Schedule A called "Issuer") : (2) That with respect to the contract.of sale of the following described obligation of the issuer to the North Fork Bank E Trust Co., Mattituck, N.Y. (in Schedule A called "Purchaser") , I have made a careful inquiry of each officer and employee of the Issuer having the power or duty to (a) negotiate, prepare, authorize or approve the contract or authorize or approve payment thereunder, (b) audit the bills or claims under the contract, or (c) appoint an officer or employee who has any of the powers or duties set forth above, as to whether or not such officer or employee has an interest (as defined pursuant to Article 18 of the General Municipal Law) in such contract: Amount and Title: Dated: Matures: No. R- 2 Interest Rate: $47,400.00 Bond Anticipation Note for street sweeper - 1987 June 12, 1987 June 10, 1988 Denomination: $47,400.00 4.30% (3) That upon information and belief, as a result of such inquiry, no such officer or employee has any such interest in said contract, unless otherwise noted in Schedule A annexed hereto and by this reference made a part hereof. u ith T. Terry, Town Cie Subscribed and sworn to before me this 12th day of June , 1987. NotarLyi PublE c, Stme of Now York No. 52-8125M, Suffolk Term Expires October 81.1 M SCHEDULE A 1• , is a stockholder of the Purchaser owning or controlling, directly or indirectly, less than five per centum (5%) of the outstanding stock thereof but no disclosure of such interest by said officer is required pursuant to said Law; 2. has an interest in the Purchaser solely by reason of employment as an officer or employee thereof, but the remuneration of such employment will not be directly affected as a result of said contract and the duties of such employment do not directly involve the procurement, preparation, or performance of any such part of such contract. has publicly disclosed the nature and extent of such interest in writing to the governing board of the Town. Such written disclosure has been made a part of and set forth in the official record of proceedings of the Town. 0 ATTORNEY'S CERTIFICATE I, FRANCIS J. YAKABOSKI, HEREBY CERTIFY that I am a licensed attorney law of the State of New York having offices at 456 Criffing Avenue, Riverhead, in said State, and am duly chosen, qualified and acting Of Counsel to the Town Attorney of the Town of Southold, in the County of Suffolk, a muni- cipal corporation of said State and herein referred to as the "Issuer", that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of the notes of the Issuer, each payable to bearer and all otehrwise described as set forth in Schedule A, annexed hereto and by this reference made a part hereof, or the levy or collection of any taxes to pay the interest on or principal of said notes or for the Levy or collection of said taxes, or relating to said notes or affecting the validity thereof or the levy or collection of said taxes, that neither corporate existence or boundaries of the Issuer nor the title of any of the present officers thereof to their respective offices is being contested, and that no authority or proceedings for the issuance of said notes has or have been repealed, revoked or rescinded. IN WITNESS WHEREOF, I have hereunto set my hand this 12th day of June, 1987. Z'/Actin wn ttorney Amount and Title: $47,400.00 Bond Anticipation Note for Street Sweeper - 1987 Dated: Matures: Number and denomination: Interest Rate and Payment Dated June 12, 1987 June 10, 1988 R-2 R47,400.00 4.30% per annum; payable at maturity . ". 0 0 CLOSING CERTIFICATES Relating to Notes of TOWN OF SOUTHOLD, NEW YORK CERTIFICATES AS TO SIGNATURES, LITIGATION AND DELIVERY AND PAYMENT WE, the undersigned officers of the Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York and herein referred to as the "Issuer", HEREBY CERTIFY that on the 12th day of June , 1987, we officially signed and properly executed by manual signatures principal amount of notes of the Issuer, each payable to bearer and all otherwise described as set forth in Schedule A annexed hereto and by this reference made a part hereof, and that at the time of such signing and execution and on the date hereof we were and are the duly chosen, qualified and acting officers of the Issuer authorized to execute said notes and holding the respective offices indicated by the official titles set opposite our signatures hereto for terms expiring on the respective dates set opposite such titles. WE FURTHER CERTIFY that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of said notes or the levy or collection of any taxes to pay the interest on or principal of said issuance of said notes or for the levy or collection of said taxes, that neither the corporate existence or boundaries of the Issuer nor the title of any of' the present officers thereof to their respective offices is being contested and that no authority or proceedings for the issuance of said notes has or have been repealed, revoked or rescinded. WE FURTHER CERTIFY that seal which is impressed upon this certificate has been affixed by impression upon each of said notes and is the legally adopted proper and only official corporate seal of the Issuer. AND, I, the undersigned Supervisor of the Issuer, HEREBY FURTHER CERTIFY that on the 12th' day of June , 1987, 1 delivered said notes to the North Fork Bank & Trust Co., Mattituck, New York, the purchaser hereof, and that at the time of such delivery of said notes, I received from said purchaser the amount hereinbelow stated, in full payment of said notes computed as follows: Price $47,400.00 Interest of said notes accrued to date of delivery -0- Amount received • $47,400.00 IN WITNESS WHEREOF, we have hereunto set our hand and said corporate seal has hereunto been affixed this 12th day of June 1987. Sign Official Title Term of Office Expires Supervisor . December 31, 1987 own Clerk December 31, 1989 I HEREBY CERTIFY'that the signatures of the officers of the above named 1 s er, whicbappear above, are true and g nuine and that I know said officers ar�d know -them tb hgl/x1�wel ✓fie ec i offic set opposite their several signatures. / ,•f / A , orth Fork Bank S Trust Co. e W QUALIFIED TAX-EXEMPT OBLIGATION DESIGNATION CERTIFICATE $47,400.00 BOND ANTICIPATION NOTE, 1987 I, the undersigned Supervisor of the Town of Southold, Suffolk County, New York (the "Issuer"), as Chief Fiscal Officer of the Township, do hereby: 1) certify that I am responsible, with others, for issuing the above- mentined note of the Issuer; 2) designate such note as a "qualified tax-exempt obligation" pursuant to Section 265(b) (3) (B) (ii) of the Internal Revenue Code of 1986 (the "Code") ; and 3) certify, in furtherance of the aforesaid designation, that (a) the amount of "qualified tax-exempt obligations", within the meaning of Section 265(b) (3) of the Code, which are reasonably anticipated to be issued by the Issuer, including issues of all governmental entities subordinate to the Issuer, if any, during the current calendar year, does not exceed $10,000,000; and (b) the sum of the principal amount of the note and the principal amount of any other tax- exempt obligations heretofore issued by the Issuer during the current calendar year, does not exceed $10,000,000. IN WITNESS WHEREOF, I have hereunto set my hand on June 12, 1987. NORTH FORD BANK The North Fork Bank & Trust Co. Subsidiary of North Fork Bancorporation, Inc. Home Office: Mattituck, New York 11952 June 16, 1987 Judith T. Terry, Town of Southold Main Road Southold, N. Y. Dear Ms. Terry: Town Clerk 11971 WN17W SeWism to" ami Enclosed please find paid $63,200.00 Town of Southold Bond Anticipation Note No. R-1 @4.65%, dated June 13, 1986, matured June 12, '1987. Please acknowledge receipt of the above by signing and returning the enclosed copy of this letter. Thank you. Very truly yours, Irene Jackow <i Manager, Finance Division ij Encs. • f � 1 R- 1 $ 63, 200.00 UNITED STATES OF AMERICA STATE OF NEW YORK COUNTY OF SUFFOLK TOWN OF SOUTHOLD BOND -ANTICIPATION NOTE FOR STREET SWEEPER - 1986 The Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York, hereby acknowiedyeb itse'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 Sixty -Three Thousand Two Hundred ------------------------ --------------------------------------------- Dollars ($ 63 200.00 ) on the 12thday of June , 1987 , together with interest thereon from the date hereof at the rate of Four and 65/100 ------------------------------------ per centum ( 4.65%) per annum, payable at maturity. Both principal of and interest on this Note will be paid in lawful money of the United States of America at The North Fork Bank 6 Trust Co., Mattituck, New York. At the request of the holder, the Town Clerk shall convert this Note into a registered Note by resgistering in the name of the holder in the books of the Town kept in the office of such Town Clerk and endorsing a certificate of such registration hereon, after which both principal of and interest on this Note shall be payable only to the registered holder, his legal representatives, successors or transferees. This Note shall then be transferable only upon presentation to such Town Clerk with a written transfer of title and such Town Clerk shall thereupon register this Note in the name of the transferee in his books and shall endorse a certificate of such registration hereon. Such transfer shall be dated, and signed by the registered holder, or his legal representatives, and it shall be duly acknowledged or proved, or in the alternative the signature thereto shall be certified as to its genuineness by an officer of a bank or trust company located and authorized to do business in this State. This Note is the only.note of an authorized issue, the principal amount of which is $63,200.00. This note is issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York, the bond resolution adopted by the Town Board .on March 12, 1985 and amended April 23, 1985, authorizing the issuance of $83,000 serial bonds for the acquisition of a new road sweeper and the trade-in on a road sweeper owned by the Town, and the Certificate of Determination executed by the Town Supervisor on June 13, 1985. The faith and credit of such Town of Southold is hereby irrevocably pledged for the punctual payment of the principal of and interest on said Note according to its terms. It is hereby certified and recited that all conditions, acts, and things required by the Constitution and statutes of the State of New York, to exist, to have happened and to have been performed precedent to and in the issuance of this Note, exist, have happened and have been performed, and this note, together with all other indebtedness of such Town of Southold is within every debt and other limit prescribed by the Constitution and Laws of such State. IN W TNESS WHEREOF, the Town of Southold has caused this Note to be signed by its Supervisor, and its corporate seal to be hereunto affixed and attested by its Town Clerk and this Note to be dated as of the 13th day of June , 198 6. PAID UUN 12198, ATTEST: ' Town Clerk 4i i y R-1. $63, 200.00 TOWN OF SOUTHOLD SUFFOLK COUNTY,. NEW YORK BOND ANTICIPATION. NOTE FOR STREET SWEEPER -1986 CERTIFICATE OF DETERMINATION BY THE SUPERVISOR RELATIVE TO THE AUTHORIZATION, SALE, ISSUANCE, FORM AND CONTENT OF A $63,200.00 BOND ANTICIPATION NOTE FOR STREET SWEEPER -1986 OF THE TOWN OF SOUTHOLD , NEW YORK I, FRANCIS J. MURPHY, Supervisor of the Town of Southold, in the County of Suffolk and State of New York (herein called "Town") HEREBY CERTIFY that pursuant to the powers and duties delegated to me, the chief fiscal officer of the Town by the Town Board pursuant to the resolution duly adopted as set forth below, and subject to the limitations prescribed in said resolution, I have made the following determinations: 1. A Bond Anticipation Note of the Town in the principal amount of shall be issued to renew, in part, the $79,000.00 Bond Anticipation Note for the purchase of a street sweeper, dated June 13, 1986, maturing June 12, 1987 and heretofore issued in anticipation of the sale of serial bonds authorized pursuant to the resolution entitled: "Bond Resolution of the Town of Southold, New York, adopted March 12, 1985 and amended April 23, 1985, authorizing (A) acquisition of a new diesel powered mobile road sweeper, and (B) trade-in of the 1974 road sweeper owned by the Town and application of the $2,000.00 trade-in value towards the cost of such mobile road sweeper for use by the Town, stating the estimated maximum cost thereof is $85,000, appropriating said amount therefor, and authorizing the issuance of $83,000 serial bonds of said Town to finance said appropriation, "' duly adopted by the Town Board on the date therein referred to, the redemption of said $79,000.00 Bond Anticipation Note having been heretofore provided to the extent of $15,800.00 bonds. from a source other than the proceeds of said 2. The terms, form and details of said renewal Note, shall be as follows: Amount and Title Dated: Matures: No. R-1 Interest Rates: $63,200..00 Bond Anticipation Note for purchase of street sweeper -1986 June 13, 1986 June 12, 1987 Denomination: $63,200.00 4.65% `11► ' Payment of principal and interest: The North Fork Bank F Truct Cr,_ Greenport, New York Form of Note: Substantially in accordance with form prescribed by Schedule B,2 of the Local Finance Law of the State of New York. 1985. 3. Said Note is a renewal Note. 4. • Said Note is issued in anticipation of bonds for nonassessable improvement. 5. The original Note, of which this Note is a renewal, was issued on June 13, 6. The amount of bond anticipation notes heretofore issued in anticipation of the said $79.000.00 serial bond, is $79,000.00, $63,200.00 of which is outstanding. 7. Pursuant to said powers and duties delegated to me, I DO HEREBY AWARD AND SELL said Note to The North Fork Bank E Trust Co. , Mattituck New York, for the purchase of $63,200.00 , plus accrued interest, if any, from the date of said Note to the date of payment of the purchase price, and I FURTHER DETERMINE that said Note so awarded shall bear interest at the rate of Four and 65%100---------------- per centum 4.65 o per annum, payable at maturity. 8. Said Note herein authorized shall be executed in the name of the Town by its Supervisor and the corporate seal of the Town shall be affixed thereto and attested by its Town Clerk. HEREBY FURTHER CERTIFY that every power delegated to me to issue and sell the Note hereinabove described is in full force and effect and has not been modified, amended, or revoked. IN WITNESS WHEREOF, I have hereunto set my hand this 13th day of June, 1986. -2- CLERK'S CERTIFICATE I, JUDITH T. TERRY, Town Clerk of the Town of Southold, in the County of Suffolk, State of New York, HEREBY CERTIFY that I have compared the foregoing copy of Cerii ic;ate of Lhe Super viaur and t, -,e same i-, 3 true and complete copy of the Certificate filed with said Town Board in my office as Town Clerk on June 13, 1986. I FURTHER CERTIFY that no resolution electing to reassume any of the powers or duties mentioned in said Certificate and delegated to the Supervisor by the resolution cited in said Certificate has been adopted by said Town Board. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of said Town this 13th day of June 198 6. Judith T. Terry (SEAL) June 13, 1986 The Town Board of the Town of Southold Town Hall Main Road Southold, New York 11971 Dear Sirs: I have examined a record of proceedings relating to the issuance of a $79,000.00 Bond Anticipation Note for Street Sweeper -1986 of the Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York. Said Note is dated June 13, 1986, matures June 12, 1987, is numbered R-1, bears interest at the rate of four and sixty-five hundredths per centum (4.65$) per annum, payable at maturity, is of the denomination of $63,200.00, is payable to bearer without coupons and registerable as to both principal and interest, is issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York, the bond resolution adopted by the Town Board on March 12, 1985 and amended April 23, 1985, authorizing the issuance of $83,000 serial bonds for the acquisition of a new road sweeper and the trade-in of a road sweeper owned by the Town, and the Certificate of Determination executed by the Supervisor on June 13, 1985. Said Bond Anticipation Note is a temproary obligation issued in anticipation of the sale of permanent serial bonds. In my opinion, the Note is a valid and legally binding general obligation of the Town for which the Town has validly pledged its faith and credit and, unless paid from other sources, all the taxable real property within the Town is subject to the of ad valorem real estate taxes to pay the Note and interest thereon without limitation of rate or amount. The enforceability of rights or remedies with respect to such Note may be limited by bankruptcy, insolvency, or other laws affecting creditors` right or remedies heretofore or hereafter enacted. Further, in my opinion, the interest on said Note is exempt under existing statutes from Federal income taxes, and under existing statutes from New York State and New York City personal income taxes. -2 - Other than such record of proceedings,' I have not been requested to examine or review and have not examined or reviewed the accuracy or sufficiency of any additional proceedings, reports, Icorrespondence, financial statements or other documents, containing financial or other information relative to the Town, which have been or may hereafter be furnished or disclosed to purchaser of said Note and 1 express no opinion with respect to any such financial or other information or the accuracy or sufficiency thereof. The form of said note is prescribed by Schedule 13,2 of the Local Finance Law of the State of New York. Yours very truly, R BERT W. TASKEF: RWT :aa CLOSING CERTIFICATES Relating to Notes of TOWN OF SOUTHOLD, NEW YORK CERTIFICATES AS TO SIGNATURES, LITIGATION AND DELIVERY AND PAYMENT WE, the undersigned officers of the Town of Southold, in the County of ccr ara AG. of the State of New York and herein referred juiiuik, a fiiui1icipul p to as the "Issuer", HEREBY CERTIFY that on the 13th day of June , 1986 we officially signed and properly executed by manual signatures principal amount of notes of the Issuer, each payable to bearer and all otherwise described as set forth in Schedule A annexed hereto and by this reference made a part hereof, and that at the time of such signing and execution and on the date hereof we were and are the duly chosen, qualified and acting officers of the Issuer authorized to execute said notes and holding the respective offices indicated by the official titles set opposite our signatures hereto for terms expiring on the respective dates set opposite such titles. WE FURTHER CERTIFY that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of said notes or the levy or collection of any taxes to pay the interest on or principal of said issuance of said notes or for the levy or collection of said taxes, that neither the corporate existence or boundaries of the Issuer nor the title of any of the present officers thereof to their respective offices is being contested and that. no authority or proceedings for the issuance of said notes has or have been repealed, revoked or rescinded. WE FURTHER CERTIFY that seal which is impressed upon this certificate has been affixed by impression upon each of said notes and is the legally adopted proper and only official corporate seal of the Issuer. AND, 1, the undersigned Supervisor of the Issuer, HEREBY FURTHER CERTIFY that on the 13th day of June , 1986, 1 delivered said notes to the North Fork Bank & Trust Co. , Mattituck, New York: the purchaser hereof, and that at the time of such delivery of said notes, 1 received from said purchaser the amount hereinbelow stated, in full payment of said notes computed as follows: Price $63,200.00 Interest of said notes accrued to date of delivery -0- Amount received $63,200.00 IN WITNESS WHEREOF, we have hereunto set our hand and said corporate seal has hereunto been affixed this 13th day of June J. 1986• Sig ure Official Title Term of Office Expires Supervisor December, 31, 1987 own Clerk December, 31, 1989 HEREBY CERTIFY -that the signatures of the officers of the above named Issuer, which appear above, are true and genuine and that II know said officers and know them to hold the respective offices set opposite their several signatures. I i aturel Title) The Norh Fork Bank S Trust Co. STATE OF NEW YORK) ss. COUNTY OF SUFFOLK) JUDITH T. TERRY, being duly sworn upon her oath, deposes and says: (1) 1 am the duly appointed, qualified and acting Town Clerk of the Town of Southold, in the County of Suffolk, New York (herein and in Schedule A called "Issuer") : (2) That with respect to the contract of sale -of the following described obligation of the issuer to the North Fork Bank 8 Trust Co. , Mattituc N (in Schedule A called "Purchaser") , I have made a careful inquiry of each officer and employee of the Issuer having the power or duty to (a) negotiate, prepare, authorize or approve the contract or authorize or approve payment thereunder, (b) audit the bills or claims under the contract, or (c) appoint an officer or employee who has any of the powers or duties set forth above:, as to whether or not such officer or employee has an interest (as defined pursuant to Article 18 of the General Municipal Law) in such contract: Amount and Title: $63,200.00 Bond Anticipation Note for street sweeper - 1986 Dated: June 13, 1986 Matures: June 12, 1987 No. R- 1 Denomination: $153,200.00 Interest Rate: 4.650 01 (3) That upon information and belief, as a result of such inquiry, no such officer or employee has any such interest in said contract, .unless otherwise noted in Schedule A annexed hereto and by this reference made a part hereof. I-th T. Terry, Town CI Ok Subscribed and sworn to before me this 13th day of June , 1986 "M � m (dd-- /7�"�—Notary Public ANN M. ABATE NOTARY PUBLIC, State of New York Suffolk County No. 4748183 Term Expns March 30, 19-S 7 . 1. Chu Purc:i���u� , than f ivy I)L:r ciisclosuru of i► i:: l.iaw; SC1IEDULE A is a stockholder of owning or controlling, directly or indirectly, less crntum (5t) of the outstanding stock hareof but no such interest by said officer is required pursuant to 2. , has such interest in said contiac:t, but according to the records of the Issuer abd state- iuents inadu to me by officers Of the Issuer during the current fiscal - year', the Purchaser has not purchased, -and by virtue of the purchase of said Bond Anticipation Note above described, will not hav® purchased Notes of aw Issuer, the aggregats principal amount of which exceeds •Y $100,000 and the Purchaser, is not now, and by virtue of the purchase. of said Note will not become the holder of Notes of the Issuer, the ayg:egate principal amount of which axceeda"gl00,000) , has publicly disclosed the nuturL: and extent of such intexe$t In writing to the governing boz►rd of the Issuer. Such written disclosure has been made a part of and set forth in the official record of proceedings. j, , has an interest in this Pui*ctic,sur, nolcly by reason of employment aS an officer or employee thurcof, but the reLnuneration of .such employment will not be directly ufLL:ctud u:: u result of said contract and the duties of such employ-. jim:nr. do not directly invovle the procurement, preparation or perfor- Imance of any part of such contract. ha:. Publicly disclosed clot_ natiii uiid uxtent of such interest in writing to the governing 1,,,aLJ Of. LIIL: I, -suer. Such written disclosure h.aL been mudu a part of and sit forth in the official record of proceedings. I . A 0 ATTORNEY'S CERTIFICATE I, ROBERT W. TASKER, HEREBY CERTIFY that I am a licensed attorney at law of the State of New York having offices at 425 Main Street, Greenport, in said State, and am the duly chosen, qualified and acting Town Attorney of the Town of Southold, in Lhe Cuucity of Suffolk, a municipal corporation of said State and herein referred to as the. "Issuer", that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of the notes of the Issuer, each payable to bearer and all otherwise described as set forth in Schedule A annexed hereto and by this reference made a part hereof or the levy or collection of any taxes to pay the interest on or principal of said notes or for the levy or collection of said taxes, or relating to said notes or affecting the validity thereof or the levy or collection of said taxes, that neither corporate existence or boundaries of the Issuer nor the title of any of the present officers thereof to their respective offices is being contested, and that no authority or proceedings for the issuance of said notes has or have been repealed, revoked or rescinded. IN WITNESS WHEREOF, I have hereunto set my hand this 13th day of June , 198 6 SCHEDULE A Amount and Title: Dated: Matures: Number and Denomination: Interest Rate and Payment Dated Town Attorney $63,200. 00 Bond Anticipation Note for street sweeper 1986 June 13, 1986 June 12, 1987 R-1 - $63,200.00 4.65% per annum until maturity payable at maturity. t R- 2 UNITED STATES OF AMERICA STATE OF NEW YORK COUNTY CF SUFFOLK TOWN OF.SOUTHOLD BOND ANTICIPATION NOTE FOR STREET SWEEPER - 1987 $ 47, 400.00 The Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York, hereby acknowledges itself indebted and for value received promises to pay to the bearer of this Note, or if it be registered, to the registered holder, the sum of Forty-seven Thousand Four Hundred 00/100------------------ ----------------------y-----------------------Dollars ($47,400.00 ---------- ) on the 10th day of June , 1988, together with interest thereon from the date hereof at the rate of Four and 30/100 ----------------------------------- per centum (4.30% ) per annum, payable at maturity. Both principal of and interest on this Note will be paid in lawful money of the United States of America at The North Fork Bank & Trust Company, Mattituck, New York. At the request of the holder, the Town Clerk shall convert this Note into a registered Note by resgistering in the name of the holder in the books of the Town kept in the office of such Town Clerk and endorsing a certificate of such registration hereon, after which both principal of and interest on this Note shall be payable only to the registered. holder, his legal representatives, successors or transferees. This Note shall then be transferable only upon presentation to such Town Clerk with a written transfer of title and such Town Clerk shall thereupon register this Note in the name of the transferee in his books and shall endorse a certificate of such registration hereon. Such transfer shall be dated, and signed by the registered. holder, or his legal representatives, and it shall be duly acknowledged or proved, or in the alternative the signature thereto shall be certified as to its genuineness by an officer of a bank or trust company located and authorized to do business in this State. This Note is the only note of an authorized issue, the principal amount of which is $47,400.00. This note is issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York, the bond resolution adopted by the Town Board on March 12, 1985 and amended April 23, 1985, authorizing the issuance of $83,000 serial bonds for the acqui- sition of a new road -sweeper and the trade-in .j-; a road sweeper owngd by the Town, and the Certificate of Determination executed by ;.he Town Supervisor on June 13, 1985. The faith and credit of such Town of Southold is hereby irrevocably pledged for the punctual payment of the principal of and interest on said Note according to its terms. It is hereby certified and recited that all conditions, acts, and things required by the Constitution and statutes of the State of New York, to exist, to have happened and to have been performed precedent to and in the issuance of this Note, exist, have happened and have been performed, and this note, together with all other indebtedness of such Town of Southold is within every debt and other limit prescribed by the Constitution and Laws of such State. IN WITNESS WHEREOF, the Town of Southold has caused this Note to be signed by its Supervisor, and its corporate seal to be hereunto affixed and attested by its Town Clerk and this Note to be dated as of the 12th day of June, 1987. ATTEST: To��Cerk CERTIFICATE OF DETERMINATION BY THE SUPERVISOR RELATIVE TO THE AUTHORIZATION, SALL:, ISSUANCE, FORM AND CONTENT OF A $47,400.00 BOND ANTICIPA- TION NOTE FOR STREET SWEEPER - 1987 OF THE TOWN OF SOUTHOLD, SUFFOLK COUNTY, NEW YORK I, FRANCIS J. MURPHY, Supervisor of the Town of Southold, in the County Of Suffolk and State of New York (herein called "Town") HEREBY CERTIFY that pursuant to the powers anc' duties delegated to me, the chief fiscal officer of the Town by the Town Board pursuant to the resolution duly adopted as set forth below, and subject to the limitations prescribed in said resolution, I have made the following determinations: 1. A Bond Anticipation Note of the Town in the principal amount of shall be issued to renew, in part, the $63,200.00 Gond Anticipation Note for the purchase of a street sweeper, dated June 12, 1985, maturing June 13, 1986 and heretofore issued in anticipation of the sale of serial bonds authorized puI-suint to the resolution entitled: "Bond Resolution of the Town of Southold, New York, adopted March 12, 1985 and amended April 23, 1985, authorizing (A) acquisition of a new diesel powered mobile road sweeper, and (B) trade-in of the 1974 road sweeper owned by the Town and application of the $2,000.00 trade-in value towards the cost of such mobile road sweeper for use by the Town, stating the estimated maximum cost thereof is $85,000, appropriating said amount therefor, and authorizing the issuance of $83,000 serial bonds of said Town to finance said appropriation." duly adopted by the Town Board on the date therein referred to, the redemption of said $ 63, 200.00 Bond Anticipation Note having been heretofore provided to the extent of $15, 800.00 from a source other than the proceeds of said bonds. 2. The terms, form and details of said renewal Note, shall he us follows: AIIIOuIIt and Title Dated: Matures: No. R-2 Interest Rates: $47,400.00 Bond Anticipation Note for purchase of street sweeper - 1987 June 12, 1987 June 10, 1988 Denomination: $47.400.00 4.30% 0 Payment of principal and interest: The North Fork Bank S Trust Co. Mattituck, New York Form of Note: 0 Substantially in accordance with form prescribed by Schedule B,2 of the Local Finance Law of the State of New York. 3. Said Note is a renewal Note. 4. Said Note is issued in anticipation of bonds for nonassessable improvement. 5. The original Note, of which this Note is a renewal, was issued on June 13, 1985. 6. The amount of bond anticipation notes heretofore issued in anticipation of the said $79,000.00 serial bond is $79,000.00, $47,400.00 of which is outstanding. 7. Pursuant to said powers and duties delegated to me, I DO HEREBY AWARD AND SELL said Note to The North Fork Bank & Trust Co., Mattituck, New York, for the purchase of $47,400.00 plus accrued interest, if any, from the date of said Note to the date of payment of the purchase price, and I FURTHER DETERMINE that said Note so awarded shall bear interest at the rate of Four and 30/100---------------- per centum 4.30 % per annum, payable at maturity. 8. Said Note herein authorized shall be executed in the name of the Town by its Supervisor and the corporate seal of the Town shall be affixed thereto and attested by its Town Clerk. I HEREBY FURTHER CERTIFY that every power delegated to me to issue and sell the Note hereinabove described is in full force and effect and has not been modified, amended, or revoked. IN WITNESS WHEREOF, I have hereunto set my hand this 12th day of June, 1987. -2- 0 • CLERK'S CERTIFICATE I, JUDITH T. TERRY, Town Clerk of the Town of Southold, in the County of Suffolk, State of New York, HEREBY CERTIFY that I have compared the foregoing copy of Certificate of the Supervisor and the same is a true and complete copy of the Certificate filed with said Town Board in my office as Town Clerk on I FURTHER CERTIFY that no resolution electing to reassume any of the powers or duties mentioned in said Certificate and delegated to the Supervisor by the resolution cited in said Certificate has been adopted by said Town Board. IN- WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of said Town this 12th day of June 198 7• Judith T. Terry (SEAL) 0 • STATE OF NEW YORK) ss. COUNTY OF SUFFOLK) JUDITH T. TERRY, being duly sworn upon her oath, deposes and says: (1) 1 am the duly appointed, qualified and acting Town Clerk of the Town of Southold, in the County of Suffolk, New York (herein and in Schedule A called "Issuer") (2) That with respect to the contract.of sale of the following described obligation of the issudir to the North Fork Bank & Trust Co., Mattituck, N.Y. (in Schedule A called "Purchaser"), I have made a careful inquiry of each officer and employee of the Issuer having the power or duty to (a) negotiate, prepare, authorize or approve the contract or authorize or approve payment thereunder, (b) audit the bills or claims under the contract, or (c) appoint an officer or employee who has any of the powers or duties set forth above, as to whether or not such officer or employee has an interest (as defined pursuant to Article 18 of the General Municipal Law) in such contract: Amount and Title: Dated: Matures: No. R- 2 Interest Rate: $47,400.00 Bond Anticipation Note for street sweeper - 1987 June 12, 1987 June 10, 1988 Denomination: $47,400.00 4.30% (3) That upon information and belief, as a result of such inquiry, no such officer or employee has any such interest in said contract, unless otherwise noted in Schedule A annexed hereto and by this reference made a part hereof. J th T. Terry, Town Cler Subscribed and sworn to before me this 12th day of June , 1987. M 'o IF - - — RZ-'-IV N- - — - - E" —0 NoteLryrylZA bET Stab ANN NaEVNM yak No. 5Z-8125a5a �MoNt Term Expires 00w1 sr %It SCHEDULE A 1. is a stockholder of the Purchaser owning or controlling, directly or indirectly, less than five per centum (5%) of the outstanding stock thereof but no disclosure of such interest by said officer is required pursuant to said Law; 2. , has an interest in the Purchaser solely by reason of employment as an officer or employee thereof, but the remuneration of such employment will not be directly affected as a result of said contract and the duties of such employment do not directly involve the procurement, preparation.. or performance of any such part of such contract. , has publicly disclosed the nature and extent of such interest in writing to the governing board of the Town. Such written disclosure has been made a part of and set forth in the official record of proceedings of the Town. ATTORNEY'S CERTIFICATE I, FRANCIS J. YAKABOSKI, HEREBY CERTIFY that I am a licensed attorney law of the State of New York having offices at 456 Griffing Avenue, Riverhead, in said State, and am duly chosen, qualified and acting Of Counsel to the Town Attorney of the Town of Southold, in the County of Suffolk, a muni- cipal corporation of said State and herein referred to as the "Issuer", that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of the notes of the Issuer, each payable to bearer and all otehrwise described as set forth in Schedule A, annexed hereto and by this reference made a part hereof, or the levy or collection of any taxes to pay the interest on or principal of said notes or for the levy or collection of said taxes, or relating to said notes or affecting the validity thereof or the levy or collection of said taxes, that neither corporate existence or boundaries of the Issuer nor the title of any of the present officers thereof to their respective offices is being contested, and that no authority or proceedings for the issuance of said notes has or have been repealed, revoked or rescinded. IN WITNESS WHEREOF, I have hereunto set my hand this 12th day of June, 1987. Amount and Title: Dated: Matures: Number and denomination: cting T At rney $47,400.00 Bond Anticipation Note for Street Sweeper - 11987 June 12, 1987 June 10, 1988 R-2 R 47, 400.00 Interest Rate and Payment Dated: 4.30% per annum; payable at maturity 0 CLOSING CERTIFICATES Relating to Notes of TOWN OF SOUTHOLD, NEW YORK CERTIFICATES AS TO SIGNATURES, LITIGATION AND DELIVERY AND PAYMENT WE, the undersigned officers of the Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York and herein referred to as the "Issuer", HEREBY CERTIFY that on the 12th day of June , 1987, we officially signed and properly executed by manual signatures principal amount of notes of the Issuer, each payable to bearer and all otherwise described as set forth in Schedule A annexed hereto and by this reference made a part hereof, and that at the time of such signing and execution and on the date hereof we were and are the duly chosen, qualified and acting officers of the Issuer authorized to execute said notes and holding the respective offices indicated by the official titles set opposite our signatures hereto for terms expiring on the respective dates set opposite such titles. WE FURTHER CERTIFY that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of said notes or the levy or collection of any taxes to pay the interest on or principal of said issuance of said notes or for the levy or collection of said taxes, that neither the corporate existence or boundaries of the Issuer nor the title of any of the present officers thereof to their respective offices is being contested and that no authority or proceedings for the issuance of said notes has or have been repealed, revoked or rescinded. WE FURTHER CERTIFY that seal which is impressed upon this certificate has been affixed by impression upon each of said notes and is the legally adopted proper and only official corporate seal of the Issuer. AND, 1, the undersigned Supervisor of the Issuer, HEREBY FURTHER CERTIFY that on the 12th day of June , 1987, 1 delivered said notes to the North Fork Bank 8 Trust Co., Mattituck, New York the purchaser hereof, and that at the time of such delivery of said notes, I received from said purchaser the amount hereinbelow stated, in full payment of said notes computed as follows: Price $47,400.00 Interest of said notes accrued to date of delivery -0- Amount received • $47,400.00 IN WITNESS WHEREOF, we have hereunto set our hand and said corporate seal has hereunto been affixed this 12th day of June , 1987. `ficial Title Term of Office Expires upervisor . December 31, 1987 own Clerk December 31, 1989 I HEREBY CERTIFY that the signatures of the officers of the above named Issuer, which appear above, are true and genuine and that I know said officers and know them^to hold the respective offices set opposite their several signatures. ignature A . 'A r North Fork Bank E Trust Co. tie „ 4 Form P- 0 3 3-G (Decem:;er .98F. I Deoanment of the treasury Interns, Re�,enue Service r. Reportlnp Authorit l istutf s name 3 Numtser and street 5 Gty or town yule and IIP code l0 11 information Return for Tax -Exempt Governmental Bond Issues ► Undet section 149(e) (Use Form 9038 -GC it issue price is under $100.000.) cn u&t■ , yNc uI I]SUQ kLneCK bottles) tnat applies) 7 Check box If bonds are tax or other revenue anticipation bonds ► ❑ 8 Check box If bonds are in the form of a lease or Installment sale ► ❑ 9 ❑ Education . . . . . . , 10 ❑ Health and hospital 11 ❑ Transportation 12 ❑ Public safety 13 ❑ Environment (Including sewage bonds) 14 ❑ Housing . . . . . . . . . 15 ❑ utilities 16 ❑ Other. Describe (see Instructions) ► vescriptlon or bonds (a) Matunry Dale OMB NO '.5450720 Eapoes 12-31-89 Check box it Amended Return It - 2 2 Issutr s emmyer ctnt,but on nuntper 11-6001939 4 Rtoon nurnaef, C198_—_ 6 Date of .uue lo► I Ic)I (d) I�► — interest rue Slat" neat-ol.on we.tntlM -uue or-ce I ,ce a ru�.rt a.e.xee maturity I 17 Final maturity I a5 I arI / 18 Entire Issue years I Uses of Original Proceeds of Issue (including underwriters' discount) 19 Proceeds used for accrued interest 20 Proceeds used for bond Issuance costs (including underwriters discount) 21 Proceeds used for credit enhancement . . . 22 Proceeds allocated to reasonably required reserve or replacement fund 23 Proceeds used to refund prior Issues 24 Nonrefunding proceeds of the Issue (subtract Imes 20 21.22 and 23 from line 18 column !c)) Description of Refunded Bonds (complete this part only for refunding bonds) 25 Enter the remaining weighted average maturity of the bonds to be refunded ► 26 Enter the last date on which the refunded bonds will be called ► 27 Enter the date(s) the refunded bonds were Issued ► Miscellaneous Issue Rlce (n I Net n`i)erest V'e'd cost I 19 1 20 1 21 1 22 1---T- 23 1 24 1 years 28 Enter the amount (if any) of the state volume cap allocated to this Issue ► 29 Arbitrage rebate. a Check box if the small governmental unit exception to the arbitrage recate requirement applies (� b Check box II the 6 -month temporary Investment exception to the arbitrage rebate requirement Is expected to apply c Check boa If you expect to earn and rebate di'Ditrage profits to the U S 30 Enter the amount of the bonds designated by the .ssuer under section 265(b)(3)(8)(n) ► 31 Pooled financings a Check fox it any of the proceeds of this Issue are t0 be used :o mare loans to other governmental units ► ❑ and enter the amount ► b Check box it this issue is a loan made from the proceeds of dno:her ;al exempt issue X. ❑ and enter the name of the issuer ► and the date of the issue ► Under pt ,lilt W uer�,r I 1yl R.amrned In.s reijin and aCWmpanyrn scnedu.e$ Ana si I m n and to the Uett o, my .now-t:de A -C or el Please Ine, ar :Iu�/,epu�' e a e e u Sign Here For Pap rk ce, see page 1 of the Instructions. Su{)c_�rv.i ;ter Daft 01, tale Form 8038-G 1:: -Alii NORTF-1 FORK� GANK The North Fork Bank & Trust Co. Subsidiary of North Fork Bancorporation, Inc. Home Office: Mattituck, New York 11952 VIE CCIVIED June 5, 1987 JUN 8 07 Soumew town Clerk Town of Southold 53095 Main Road Southold,, N. Y. 11971 Gentlemen: On June 12, 1987 there will be due this office the sum of $66,130.64 in accordance with the following statement: Town of Southold Bond Anticipation Note @4.65%, dated 6/13/86 -------Principal due -$63,200.00 Interest due- 2,930.64 TOTAL DUE -----$66,130.64 Thank you. Very truly yours, Irene Jackow i Manager, Fi ance Division ij tivOFFIC ROBERT W. TASKER 1 Town Attorney RNEY JUN 2 0 !011"- U TELEPHONE (S16) *774400 425 MAIN STREET • P.O. BOX 697 GREENPORT, L.I., NEW YORK 11944 June 18, 1986 Hon. Francis J. Murphy Supervisor of the Town of Southold Town Hall Southold, New York 11971 Re: Sale of $63,200.00 Bond Anticipation Note for Street Sweeper - 1986 Dear Mr. Murphy: This is to advise you that the above captioned Bond Anticipation Note was sold to the North Fork Bank S Trust Co. on June 13, 1986 at an interest rate of 4.65%. In addition to the North Fork Bank E Trust Co., bids were also received from The Bank of New York at 4.75%; Chemical Bank at 5.50% and Suffolk County National Bank at 5.05%. Relative to the sale, I enclose herewith the following: 1. Copy of Bond Anticipation Note 2. Affidavit of Town Clerk relative to conflict of interest. 3. Closing Certificates. 4. Certificate of Determination of Supervisor. 5 Attorney's Certificate. 6. Letter of Opinion. Yours very truly, ROBERT W. TASKER R WT : as encs. cc: Judith T. Terry. OFFICE OF TOWNATTORNEY x, ROBERT W. TASKER TOWN OF SOUTHOLD TELEPHONE Town Attorney„ K - �' � � (516) 477-1400 425 MAIN STREET • P.O. BOX 697 GREENPORT, L.I., NEW YORK 11944 June 13, 1986 The Town Board of the Town of Southold Town Hall Main Road Southold, New York 11971 Dear Sirs: I have examined a record of proceedings relating tothe issuance of a $79,000.00 Bond Anticipation Note for Street Sweeper71986 of the Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York. Said Note is dated June 13, 1986, matures June 12, 1987, is numbered R-1, bears interest at the rate of four and sixty-five hundredths per centum (4.650) per annum, payable at maturity, is of the denomination of $63,200.00, is payable to bearer without coupons and registerable as to both principal and interest, is issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York, the bond resolution adopted by the Town Board on March 12, 1985 and amended April 23, 1985, authorizing the issuance of $83,000 serial bonds for the acquisition of a new road sweeper and the trade-in of a road sweeper owned by the Town, and the Certificate of Determination executed by the Supervisor on June 13, 1985. Said Bond Anticipation Note is a temproary obligation issued in anticipation of the sale of permanent serial bonds. In my opinion, the Note is a valid and legally binding general obligation of the Town for which the Town has validly pledged its faith and credit and, unless paid from other sources, all the taxable real property within the Town is subject to the of ad valorem real estate taxes to pay the Note and interest thereon without limitation of rate or amount. The enforceability of rights or remedies with respect to such Note may be limited by bankruptcy, insolvency, or other laws affecting creditors' right or remedies heretofore or hereafter enacted. Further, in my opinion, the interest on said Note is exempt: under existing statutes from Federal income taxes, and under existing statutes from New York. State and New York City personal income taxes. -2 - Other than such record of proceedings,. 1 have not been requested to examine or review and have not examined or reviewed the accuracy or sufficiency of any additional proceedings, reports, correspondence, financial statements or other documents, containing financial or other information relative to the Town, which have been or may hereafter be furnished or disclosed to purchaser of said Note and I express no opinion with respect to any such financial or other information or the accuracy or sufficiency thereof. The form of said note is prescribed . by Schedule 13,2 of the Local Finance Law of the State of New York. Yours very truly; R BERT W. TASKER RWT :aa R- 1 • 9 UNITED STATES OF AMERICA STATE OF NEW YORK COUNTY OF SUFFOLK TOWN OF SOUTHOLD BON19-ANTICIPATION NOTE FOR STREET SWEEPER - 1986 $ 63,200.00 The Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York, hereby acknowiedyet itself indebteu and iur vaiue recel-vcu promises to pay to the bearer of this Note, or if it be registered, to the registered holder, the sum of Sixty -Three Thousand Two Hundred ----------------------- ------------ Dollars ($ 63 200.00 ) on the 12thday of June 111987 , together with interest thereon from the date hereof at the rate of Four and 65/100 ----------------------------------- per centum ( 4.65%) per annum, payable at maturity. Both principal of and interest on this Note will be paid in lawful money of the United States of America at The North Fork Bank & Trust Co., Mattituck, New York. At the request of the holder, the Town Clerk shall convert this Note into a registered Note by resgistering in the name of the holder in the books of the Town kept in the office of such Town Clerk and endorsing a certificate of such registration hereon, after which both principal of and interest on this Note shall be payable only to the registered holder, his legal representatives, successors or transferees. This Note shall then be transferable only upon presentation to such Town Clerk with a written transfer of title and such Town Clerk shall thereupon register this Note in the name of the transferee in his books and shall endorse a certificate of such registration hereon. Such transfer shall be dated, and signed by the registered holder, or his legal representatives, and it shall be duly acknowledged or proved-, or in the alternative the signature thereto shall be certified as to its genuineness' by an officer of a bank or trust company located and authorized to do business in,, this State. This Note is the only .note of an authorized issue, the principal amount of which is $63,200.00. This note is issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York, the bond resolution adopted by the Town Board .on March 12, 1985 and amended April 23, 1985, authorizing the issuance of $83,000 serial bonds for the acquisition of a new road -sweeper and the trade-in on a road sweeper owned by the Town, and the Certificate of Determination executed by the Town Supervisor. on June 13, 1985. The faith and credit of such Town of Southold is hereby irrevocably pledged for the punctual payment of the principal of and interest on said Note according to its terms. It is hereby certified and recited that all conditions, acts, and things required by the Constitution and statutes of the State of New York, to exist, to have happened and to have been performed precedent to and in the issuance of this Note, exist,, have happened and have been performed, and this note, together with all other indebtedness of such Town of Southold is within every debt and other limit prescribed by the Constitution and Laws of such State. IN WITNESS WHEREOF, the Town of Southold has caused* this Note to be signed by its Supervisor, and its corporate seal to be hereunto affixed and attested by its Town Clerk and this Note to be dated as of the 13th day of June . 198 6. ATTEST: .............. Town Clerk • 0 CERTIFICATE OF DETERMINATION BY THE SUPERVISOR RELATIVE TO THE AUTHORIZATION, SALE, ISSUANCE, FORM AND CONTENT OF A $63,200.00 BOND ANTICIPATION NOTE FOR STREET SWEEPER -1986 OF THE TOWN OF SOUTHOLD , NEW YORK 1, FRANCIS J. MURPHY, Supervisor of the Town of Southold, in the County of Suffolk and State of New York (herein called "Town") HEREBY CERTIFY that pursuant to the powers and duties delegated to me, the chief fiscal officer of _the_., Town by the Town Board pursuant to the resolution duly adopted as set forth below', and subject to the limitations prescribed in said resolution, I have made the following determinations: 1. A Bond Anticipation Note of the Town in the principal amount of shall be issued to renew, in part, the $79,000.00 Bond ,Anticipation Note for the purchase of a street sweeper, dated June 13, 1986, maturing June 12, 1987 and heretofore issued in anticipation of the sale of serial bonds authorized pursuant to the resolution entitled: "Bond Resolution of the Town of Southold, New York, adopted March 12, 1985 and amended April 23, 1985, authorizing (A) acquisition of a new diesel powered mobile road sweeper, and (B) trade-in of the 1974 road sweeper owned by the Town and application of the $2,000.00 trade-in value towards the cost of such mobile road sweeper for use by the Town, stating the estimated maximum cost thereof is $85,000, appropriating said amount therefor, and authorizing the issuance of $83,000 serial bonds of said Town to finance said appropriation, duly adopted by the Town Board on the date therein referred to, the redemption of said $79,000.00 Bond Anticipation Note having been heretofore provided to the extent of $15,800.00 from a source other than the proceeds of said bonds. 2. The terms, form and details of said renewal Note, shall be as follows: Amount and Title Dated: Matures: No. R-1 Interest Rates: $63,200..00 Bond Anticipation Note for purchase of street sweeper -1986 June 13, 1986 June 12, 1987 Denomination: $63,200.00 4.65% Payment of principal and interest: • :.•. Greenport, New York Form of Note: Substantially in accordance with form prescribed by Schedule B,2 of the Local Finance Law of the State of New York. 1985. 3. Said Note is a renewal Note. 4. • Said Note is issued in anticipation of bonds for nonassessable improvement. 5. The original Note, of which this Note is a renewal, was issued on June 13, 6. The amount of bond anticipation notes heretofore issued in anticipation of the said $79.000.00 serial bond, is $79,000.00, $63,200..00 of which is outstanding. 7. Pursuant to said powers and duties delegated to me, I DO HEREBY AWARD AND SELL said Note to The North Fork Bank & Trust Co.. M attituck New York, for the purchase of $63,200.00 plus accrued interest, if any, from the date of said Note to the date of payment of the purchase price, and I FURTHER DETERMINE that said Note so awarded shall bear interest at the rate of Four and 65/100---------------- per centum 4.65 o per annum, payable at maturity. 8. Said Note herein authorized shall be executed in the name of the Town by its Supervisor and the corporate seal of the Town shall be affixed thereto and attested by its Town Clerk. HEREBY FURTHER CERTIFY that every power delegated to me to issue and sell the Note hereinabove described is in full force and effect and has not been modified, amended, or revoked. 1986. IN WITNESS WHEREOF, I have hereunto set my hand this 13th day of June, -2- CLERK'S CERTIFICATE I, JUDITH T. TERRY, Town Clerk of the Town of Southold, in the County of Suffolk, State of New York, HEREBY CERTIFY that I have compared the foregoing copy of Ceriiiicate of Lhe SUPV1 ViSU1- alld the same i:, s true and complete copy of the Certificate filed with said Town Board in my office as Town Clerk on. June 13, 1986. FURTHER CERTIFY that no resolution electing to reassume any of the powers or duties mentioned in said Certificate and delegated to the Supervisor by the resolution cited in said Certificate has been adopted by said Town Board. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of said Town this 13th day of June 198 6. o Judith T. Terry (SEAL) • STATE OF NEW YORK) 4-2 COUNTY OF SUFFOLK) • JUDITH T. TERRY, being duly sworn upon her oath, deposes and says: (1) 1 am the duly appointed, qualified and acting Town Clerk of the Town of Southold, in the County of Suffolk, New York (herein and in Schedule A called "Issuer") : (2) That with respect to the contract -of sale -of the following described obligation of the issuer to the North Fork Bank 8 Trust Co. Matti tuck. N.Y. (in Schedule A called "Purchaser"), I have made a careful inquiry of each officer and employee of the Issuer having the power or duty to (a) negotiate, prepare, authorize or approve the contract or authorize or approve payment thereunder, (b) audit the bills or claims under the contract, or (c) appoint an officer or employee who has any of the powers or duties set forth above, as to whether or not such officer or employee has an interest (as defined pursuant to Article 18 of the General Municipal Law) in such contract: Amount and Title: Dated: Matures: No. R- 1 Interest Rate: $63,200.00 Bond Anticipation Note for street sweeper - 1986 June 13, 1986 June 12, 1987 Denomination: 4.65% $63,200.00 (3) That upon information and belief, as a result of such inquiry, no such officer or employee has any such interest in said contract, .unless otherwise noted in Schedule A annexed hereto and by this reference made a part hereof. 8th T. Terry, Town Cler. Subscribed and sworn to before me this},13th day of June 1986 ANN M. ABATE NO?ARV PUBLIC, State of New York SuNolk County No. 4748193 Term ExpKes Merth 30, 19� . SCHEDULE A 1. _ , i:i a stockholder of tr1u 1,urC11.AZL:1_ , owni.ng or controlling, directly or indirectly, less than five (ii.:r ctfntuln (5t) of the outstanding stock hereof but no Lii:.closuru of such interest by said officer is required pursuant to 2. , has such interest in raid corntiacL, but according to the records of the Issuer abd state- ments lnadu to me by officers of the Issuer during the current fiscal - year•, the Purchaser has not purchased,•and by Virtue of the purchase of said Bond Anticipation Nota -above deacsribed, will not hnvA purehasec Notes of Olt: Issuer, the aggregato principal amount of which excoads $100,000 and the Purchaser, isnot now, And by virtue of the purchase. of said Note will not become tha holder of Notes of the Issuer, th* aggregate principal amount of which axceedaj100,000) +< has publicly disclosed the naturL: and extent of such interest 1"n Writing to. the governing board of the Issuer. Such written disclosure has been made a part of and sc_t forth in the official record of proceedings, has an interest: in the i,ui,cl,asur, noluly by reason of employment as an officer or employoe thurcof, but the remuneration of .such employment will not be directly affc:CLUd as a result of said contract: and the duties of such employ-. niunt do not directly invovle the procurement, prEharation or perfor- ''tnance of arly part of such contract. haL Publicly disclosed LI,t_ riatut"u uiiJ extent of such interest in writing to the governing b,,aLd Of Lhu Issuer. Such written disclosure has been muds a part of «rid set forth in the official record of proceL•dings. 0 0 ATTORNEY'S CERTIFICATE I, ROBERT W. TASKER, HEREBY CERTIFY that: I am a licensed attorney at law of the State of New York having offices at 425 Main Street, Greenport, in said State, and am the duly chosen, qualified and of the Town of Southold, in the Cuunty of acting Town Attorney Suffolk, a municipal corporation of said State and herein referred to as the. "Issuer", that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of the notes of the Issuer, each payable to bearer and all otherwise described as set forth in Schedule A annexed hereto and by this reference made a part hereof or the levy or collection of any taxes to pay the interest on or principal of said notes or for the levy' or collection of said taxes, or relating to said notes or affecting the validity thereof or the levy or collection of said taxes, that neither corporate existence or boundaries of the Issuer nor the title of any of the present officers thereof to their respective offices is being contested, and that no authority or proceedings for the issuance of said notes has or have been repealed, revoked or rescinded. IN WITNESS WHEREOF, 1 have hereunto set my hand this 13th day of lune , 198 6 SCHEDULE A $63,200.00 Bond Anticipation Note for street sweeper - 1986 Amount and Title: Dated: Matures: Number and Denomination: Interest Rate and Payment Dated: Town Attorney June 13, 1986 June 12, 1987 R-1 - $63,200.00 4.65% per annum until maturity payable at maturity. . 0 0 CLOSING CERTIFICATES Relating to Notes of TOWN OF SOUTHOLD, NEW YORK CERTIFICATES AS TO SIGNATURES, LITIGATION AND DELIVERY AND PAYMENT WE, the undersigned officers of the Town of Southold, in the County of J1111U11K, d i�iu_: ipal corporation of the State of New York and hPYPIn rPfP.rred to as the "Issuer", HEREBY CERTIFY that on the 13th day of June , 1986 we officially signed and properly executed by manual signatures principal amount of notes of the Issuer, each payable to bearer and all otherwise described as set forth in Schedule A annexed hereto and by this reference made a part hereof, and that at the time of such signing and execution and on the date hereof we were and are the duly chosen, qualified and acting officers of the --Issuer authorized to execute said notes and holding the respective offices indicated by the official titles set opposite our signatures hereto for terms expiring on the respective dates set opposite such titles. WE FURTHER CERTIFY that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of said notes or the levy or collection of any taxes to pay the interest on or principal of said issuance of said notes or for the levy or collection of said taxes, that. neither the corporate existence or boundaries of the Issuer nor the title of any of the present officers thereof to their respective offices is being contested and that no authority or proceedings for the issuance of said notes has or have been repealed, revoked or rescinded. WE FURTHER CERTIFY that seal which is impressed upon this certificate, has been affixed by impression upon each of said notes and is the legally adopted proper and only official corporate seal of the Issuer. AND, 1, the undersigned Supervisor of the Issuer, HEREBY FURTHER CERTIFY that on the 13th day of June , 1986, 1 delivered said notes to the North Fork Bank & Trust Co. , Mattituck, New York the purchaser hereof, and that at the time of such delivery of said notes, I received from said purchaser the amount hereinbelow stated, in full payment of said notes computed as follows: Price $63,200.01) Interest of said notes accrued to date of delivery -0- Amount received $63,200.01) IN WITNESS WHEREOF, we have hereunto set our hand and said corporate seal has hereunto been affixed this 13th day of June , 1986• Fficial Title Term of Office Expires upervisor December 31, 1987 own Clerk December 31, 1989 I HLKLBY c;LKTIFY that the signatures of the officers of the above named Issuer, which appear above, are true and genuine and that 1 know said officers and know them to hold the respective offices set opposite their several signatures. nature) v Title) _A The North Fork Bank 6 Trust Co. ROBERT W. TASKER Town Attorney oil 171 OFFI 0 ORNEY D Nt� 425 MAIN STREET • P.O. BOX 697 GREENPORT, L.I., NEW YORK 11944 June 18, 1986 TELEPHONE (516) 477-1400 Hon. Francis J. Murphy Supervisor of the Town of Southold Town Hall Southold, New York 11971 Re: Sale of $63,200.00 Bond Anticipation Note for Street Sweeper - 1986 Dear Mr. Murphy: This is to advise you that the above captioned Bond Anticipation Note was sold to the North Fork Bank 6 Trust Co. on June 13, 1986 at an interest rate of 4.65%. In addition to the North Fork Bank S Trust Co., bids were also received from. The Bank of York at 4.75'., Cheimicai Bank at 5.50% and Suffolk County. Nationaa Bank at 5.05%. Relative to the sale, 1 enclose herewith the following: 1. Copy of Bond Anticipation Note 2. Affidavit of Town Clerk relative to conf"'ct of interest. 3. Closing Certificates. 4. Certificate of Determinaton of Supervisor. 5 Attorney's Certificate. 6. Letter of Opinion. Yours very truly, ROBERT W. TASKER RWT:aa encs. cc: Judith T. Terry. OFFICE OF T'OWNti TTORNEY d ROBERT W. TASKER TOWN OE SOUTHOL,D TELEPHONE Town Attorney s�;` (516) 477-1400 a` 425 MAIN STREET • P.O. BOX 697 GREENPORT, L.I., NEW YORK 11944 June 13, 1986 The Town Board of the Town of Southold Town Hall Main Road Southold, New York 11971 Dear Sirs: 1 have examined a record of proceedings relating to the issuance of a $79,000.00 Bond Anticipation Note for Street Sweeper71986 of the Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York., Said Note is dated June 13, 1986, matures June 12, 1987, is numbered R71, bears interest at the rate of four and sixty-five hundredths per centum (4-.65$) per annum, payable at maturity, is of the denomination of $63,200.00, is payable to bearer without coupons and registerable as to both principal and interest, is issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York, the bond resolution adopted by the Town Board on March 12, 1985 and amended April 23, 1985, authorizing the issuance of $83,000 serial bonds for the acquisition of a new road sweeper and the trade-in of a road sweeper owned by the Town, and the Certificate of Determination executed by the Supervisor on June 13, 1985. Said Bond Anticipation Note is a temproary obligation issued in anticipation of the sale of permanent serial bonds. In my opinion, the Note is a valid and legally binding general obligation of the Town for which the Town has validly pledged its faith and credit and, unless paid from other sources, all the taxable real property within the Town is subject to the of ad valorem real estate taxes to pay the Note and interest thereon without limitation of rate or amount. The enforceability of rights or remedies with respect to such Note may be limited by bankruptcy, insolvency, or other laws affecting creditors` right or remedies heretofore or hereafter enacted. Further, in my opinion, the interest on said Note is exempt under existing statutes from Federal income taxes, and under existing statutes from New York.. State and New York City personal income taxes. -2 - Other than such record of proceedings, I have not been requested to examine or review and have not examined or reviewed the accuracy or sufficiency of any additional proceedings, reports, correspondence, financial statements or other documents, containing financial or other information relative to the Town, which have been or may hereafter be furnished or disclosed to purchaser of said Note and I express no opinion with respect to any such financial or other information or the accuracy or sufficiency thereof. The form of said note is prescribed by Schedule 13,2 of the Local Finance Law of the State of New York. Yours very truly, R BERT W. TASKER RWT:aa L, R- 1 • UNITED STATES OF AMERICA STATE OF NEW YORK COUNTY OF SUFFOLK TOWN OF SOUTHOLD BONTEFANTICIPATION NOTE FOR STREET SWEEPER - 1986 $ 63,200.00 The Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York, hereby acknowiedgeb 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 Sixty -Three Thousand Two Hundred ------------------------ ----------------------- Dollars ($ 63 200.00 ) on the 12thday of June , 1987 , together with interest thereon from the date hereof at the rate of Four and 65/100 ------------------------------------ per centum ( 4.65%) per annum, payable at maturity. Both principal of and interest on this Note will be paid in lawful money of the United States of America at The North Fork Bank 8 Trust Co., Mattituck,. New York. At the request of the holder, the Town Clerk shall convert this Note into a registered Note by resgistering in the name of the holder in the books of the Town kept in the office of such Town Clerk and endorsing a certificate of such registration hereon, after which both principal of and interest on this Note shall be payable only to the registered holder, his legal representatives, successors or transferees. This Note shall then be transferable only upon presentation to such Town Clerk with a written transfer of title and such Town Clerk shall thereupon register this Note in the name of the transferee in his books and shall endorse a certificate of such registration hereon. Such transfer shall be dated, and signed by the registered holder, or his legal representatives, and it shall be duly acknowledged or proved, or in the alternative the signature thereto shall be certified as to its genuineness by an officer of a bank or trust company located and authorized to do business in this State. This Note is the only .note of an authorized issue, the principal amount of which is $63,200.00. This note is issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York, the bond resolution adopted by the Town Board on March 12, 1985 and amended April 23, 1985, authorizing the issuance of $83,000 serial bonds for the acquisition of a new road -sweeper and the trade-in on a road sweeper owned by the Town, and the Certificate of Determination executed by the Town Supervisor on June 13, 1985. The faith and credit of such Town of Southold is hereby irrevocably pledged for the punctual payment of the principal of and interest on said Note according to its terms. It is hereby certified and recited that all conditions, acts, and things required by the Constitution and statutes of the State of New York, to exist, to have happened and to have been performed precedent to and in the issuance of this Note, exist, have happened and have been performed, and this note, together with all other indebtedness of such Town of Southold is within every debt and other limit prescribed by the Constitution and Laws of such State. IN WITNESS WHEREOF, the Town of Southold has caused this Note to be signed by its Supervisor, and its corporate seal to be hereunto affixed and attested by its Town Clerk and this Note to be dated as of the 13th day of June . 198 6. ATTEST: Town Clerk • • CERTIFICATE OF DETERMINATION BY THE SUPERVISOR RELATIVE TO THE AUTHORIZATION, SALE, ISSUANCE, FORM AND CONTENT OF A $63,200.00 BOND ANTICIPATION NOTE FOR STREET SWEEPER -1986 OF THE TOWN OF SOUTHOLD , NEW YORK I, FRANCIS J. MURPHY, Supervisor of the Town of Southold, in the County of Suffolk and State of New York (herein called "Town") HEREBY CERTIFY that pursuant to the powers and duties delegated to me, the chief fiscal officer of the Town by the Town Board pursuant to the resolution duly adopted as set forth below, and subject to the limitations prescribed in said resolution, I have made the following determinations: 1. A Bond Anticipation Note of the Town in the principal amount of shall be issued to renew, in part, the $79,000.00 Bond Anticipation Note for the purchase of a street sweeper, dated June 13, 1986,, maturing June 12, 1987 and heretofore issued in anticipation of the sale of serial bonds authorized pursuant to the resolution entitled: "Bond Resolution of the Town of Southold, New York, adopted March 12, 1985 and amended April 23, 1985, authorizing (A) acquisition of a new diesel powered mobile road sweeper, and (B) trade-in of the 1974 road sweeper owned by the Town and application of the $2,000.00 trade-in value towards the cost of such mobile road sweeper for use by the Town, stating the estimated maximum cost thereof is $85,000, appropriating said amount therefor, and authorizing the issuance of $83,000 serial bonds of said Town to finance said appropriation,!' duly adopted by the Town Board on the date therein referred to, the redemption of said $79,000.00 Bond Anticipation Note having been heretofore provided to the extent of $15,800.00 from a source other than the proceeds of said bonds. 2. The terms, form and details of said renewal Note, shall be as follows: Amount and Title Dated: Matures: No. R-1 Interest Rates: $63,200.00 Bond Anticipation Note for purchase of street sweeper -1986 June 13, 1986 June 12, 1987 Denomination: $63,200.00 4.65% Payment of principal and interest: Greenport, New York Form of Note: Substantially in accordance with form prescribed by Schedule B,2 of the Local Finance Law of the State of New York. 1985. 3. Said Note is a renewal Note. 4. • Said Note is issued in anticipation of bonds for nonassessable improvement. S. The original Note, of which this Note is a renewal, was issued on June 13, 6. The amount of bond anticipation notes heretofore issued in anticipation of the said $79. 000. 00 serial bond, is $79,000. 00, $63,200. 00 of which is outstanding. 7. Pursuant to said powers and duties delegated to me, I DO HEREBY AWARD - AND SELL said Note to The North Fork Bank s Trust Co-,, Mattituck New York, for the purchase of $63,200.00 , plus accrued interest, if any, from the date of said Note to the date of payment of the purchase price, and I FURTHER DETERMINE that said Note so awarded shall bear interest at the rate of Four and 65/100---------------- per centum 4.65 o per annum, payable at maturity. 8. Said Note herein authorized shall be executed in the name of the Town by its Supervisor and the corporate seal of the Town shall be affixed thereto and attested by its Town Clerk. HEREBY FURTHER CERTIFY that every power delegated to me to issue and sell the Note hereinabove described is in full force and effect and has not been modified, amended, or revoked. 1986. IN WITNESS WHEREOF, 1 have hereunto set my hand this 13th day of June, -2- 1 CLERK'S CERTIFICATE I, JUDITH T. TERRY, Town Clerk of the Town of Southold, in the County of Suffolk, State of New York, HEREBY CERTIFY that I have compared the foregoing copy of Ceriificaie of the SupetVisur- alld tlse same is s true and complete copy of the Certificate filed with said Town Board in my office as Town Clerk on June 13, 1986. I FURTHER CERTIFY that no resolution electing to reassume any of the powers or duties mentioned in said Certificate and delegated to the Supervisor by the resolution cited in said Certificate has been adopted by said Town Board. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of said Town this 13th day of June 198 6. ° Judith T. Terry (SEAL) STATE OF NEW YORK) ss. COUNTY OF SUFFOLK) • JUDITH T. TERRY, being duly sworn upon her oath, deposes and says: (1) 1 am the duly appointed, qualified and acting Town Clerk of the Town of Southold, in the County of sr,ffnik _ New York (herein and in Schedule A called "Issuer") : (2) That with respect to the contract -of. sale -of .the following described obligation of the issuer to the North Fork Bank S Trust Co.. Mattituck, N.Y. (in Schedule A called "Purchaser") , I have made a careful inquiry of each officer and employee of the Issuer having the power or duty to (a) negotiate, prepare, authorize or approve the contract or authorize or approve payment thereunder, (b) audit the bills or claims under the contract, or (c) appoint an officer or employee who has any of the powers or duties set forth above, as to whether or not such officer or employee has an interest (as defined pursuant to Article 18 of the General Municipal Law) in such contract: Amount and Title: $63,200.00 Bond Anticipation Note for street sweeper - 1986 Dated: June 13, 1986 Matures: June 12, 1987 No. R- 1 Denomination: $63,200.00 Interest Rate: 4.65% 61 (3) That upon information and belief, as a result of such inquiry, no such officer or employee has any such interest in said contract, .unless otherwise noted in Schedule A annexed hereto and by this reference made a part hereof. th T. Terry, Town Cle Subscribed and sworn to before me this �_*h day of June , 1986 11,115.1-1 UFM ANN M. ABATE NOTARY PUBLIC, State of New York Suffolk CountY No. 4748183 Term Expires March 30, 19d1 SCIIEDUT.E A 1 _ , is a stockholder of LI-Ic Purc:li-j: j_:1 , owning or controlling, directly or indirectly, less. than f iVQ I)L:r crnt.um (5t) of the outstanding stock hereof but no Lii::clo:.;uru of such interest by said officer is required pursuant to :;a i:: Law; 2. , has such interest in said cc., L' LL, but according to the records of the Issuer Abd state - idents inadu to me by officers of the Issuer during the current fiscal- year, the Purchaser has not purphased,•and by virtue of the purchase of said Bond Anticipation Note above described, will not have purehdsec Notes of Lh,- Issuer, the aggreagato principal amount of which excaeds '• ;100,000 and the Purchaser, is7not now, And by virtue of the purchase, of said Note will not become tha holder of Notes of the Issuer, then i. agg.-roate principal amount of which u-xceeda. �100,0001 , ` has publicly disclosed the nature: and extent of such interest in writing to the governing board of the Issuer. Such written disclosure has been made a part of and set forth in the official record of proceedings, has an interust in the Purch:,sur, nobly by reason of employment aS an officer or employoe tthL:rcaf, but the remuneration of .such employment will not Le directly of i,:CLUd u:. a rusult of said contract and the duties of such employ-. pw nr- do not directly invovle the procurement, preparation or perfor- •mance of an, fart of such contract. haL publicly disclosed LI,,- n,Atiu-,._ c.t,,d uxtent of such interest in writing to the yUverning 1.Lu.aj J of LI►L: ltiSuer. Such written disclosure haL been mAdu a part of and sut forth in the official record of proceedings. I 41 ATTORNEY'S CERTIFICATE 1, ROBERT W. TASKER, HEREBY CERTIFY that 1 am a licensed attorney at law of the State of New York having offices at 425 Main Street, Greenport, in said State, and am the duly chosen, qualified and of the Town of Southold, in the County of acting Town Attorney Suffolk, a municipal corporation of said State and herein referred to as the. "Issuer", that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of the notes of the issuer, each payable to bearer and all otherwise described as set . forth in Schedule A annexed hereto and by this reference made a part hereof or the levy or collection of any, taxes to pay the interest on or principal of said notes or for the levy, or collection of said taxes, or relating to said notes or affecting the validity thereof or the levy or collection of said taxes, that neither corporate existence or boundaries of the Issuer nor the title of any of the present officers thereof to their respective offices is being contested, and that no authority or proceedings for the issuance of said notes has or have been repealed, revoked or rescinded. IN WITNESS WHEREOF, I have hereunto set my hand this 13t h day of lune , 198 6 Town Attorney SCHEDULE A Amount and Title: $63,200-00 Bond Anticipation Note for street sweeper - 1986 Dated: Matures: Number and Denomination: Interest Rate and Payment Dated: June 13, 1986 June 12, 1987 R-1 $63,200.00 4.65% per annum until maturity payable at maturity. . CLOSING CERTIFICATES Relating to Notes of TOWN OF SOUTHOLD, NEW YORK CERTIFICATES AS TO SIGNATURES, LITIGATION AND DELIVERY AND PAYMENT WE, the undersigned officers of the Town of Southold, in the County of I corporation of the State of New York and herein refee rrd JUI IUIK, d �II4i�iiriNu� vv. ��� uvi� �. to as the "Issuer", HEREBY CERTIFY that on the 13th day of June , 1986 we officially signed and properly executed by manual signatures principal amount of notes of the Issuer, each payable to bearer and all otherwise described as set forth in Schedule A annexed hereto and by this reference made a part hereof, and that at the time of such signing and execution and on the date hereof we were and are the duly chosen, qualified and acting officers of the Issuer authorized to execute said notes and holding the respective offices indicated by the official titles set opposite our signatures hereto for terms expiring on the respective dates set opposite such titles. WE FURTHER CERTIFY that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of said notes or the levy or collection of any taxes to pay the interest on or principal of said issuance of said notes or for the levy or collection of said taxes, that neither the corporate existence or boundaries of the Issuer nor the title of any of the present officers thereof to their respective offices is being contested and that no authority or proceedings for the issuance of said notes has or have been repealed, revoked or rescinded. WE FURTHER CERTIFY that seal which is impressed upon this certificate has been affixed by impression upon each of said notes and is the legally adopted proper and only official corporate seal of the Issuer. AND, I, the undersigned Supervisor of the Issuer, HEREBY FURTHER CERTIFY that on the 13th day of June , 1986, 1 delivered said notes to the North Fork Bank 8 Trust Co. , Mattituck, New York the purchaser hereof, and that at the time of such delivery of said notes, I received from said purchaser the amount hereinbelow stated, in full payment of said notes computed as follows: Price $63,200.00 Interest of said notes accrued to date of delivery -0- Amount received $63,200.00 IN WITNESS WHEREOF, we have hereunto set our hand and said corporate seal has hereunto been affixed this 13th day of June , 1986• Official Title Term of Office Expires Supervisor . December 31, 1987 Town Clerk December 31, 1989 I HEREBY CERTIFY that the signatures of the officers of the above named Issuer, which appear above, are true and genuine and that I know said officers and know them to hold the respective offices set opposite their several signatures. (Signature) (Title) The North Fork Bank & Trust Co. Ile June 13, 1985 The Town Board of the Town of Southold, in the County of Suffolk, New York Dear Sirs: We have examined a record of proceedings :-elating to the issuance of a $79,000 Bond Anticipation Note for Street Sweeper - 1985 of the Town of Southold, in the County of Suffolk,'a municipal corporation of the State of New York. Said Note is dated June 13, 1985, matures June 13, 1986, is numbered 1, bears :interest at the rate of four and eighty-nine hundredths per centum (4.89%) per annum, payable at maturity, is of the denomination of $79,000, is payable to bearer without coupons and registrable as to both principal and interest, is issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York, the bond resolution adopted by the Town Board on March 12, 1985 and amended April 23, 1985, authorizing the issuance of $83,000 serial bonds for the acquisition of a new road sweeper and the trade-in of a road sweeper owned by the Town, and the Certificate of Determination executed by the Town Supervisor on June 13, 1985.. Said bond anticipation note is a temporary obligation issued in anticipation of the sale of permanent serial bonds. In our opinion, the Note is a valid and legally binding general obligation of the Town for which the Town has validly pledged its faith and credit and, unless paid from other sources, all the taxable real property within the Town is subject to the levy of ad valorem real estate taxes to pay the Note and interest thereon without limitation of rate or amount. The enforceability of rights or remedies with respect to such Note may be limited by bankruptcy, insolvency, or other laws affecting creditors' rights or remedies heretofore or hereafter enacted. Further, in our opinion, the interest on said Note is exempt under existing statutes from Federal income taxes, and under existing statutes from New York State and New York City personal income taxes. Other than such record of proceedings, we have not been requested to examine or review and have not examined or reviewed the accuracy or sufficiency of any additional proceedings, reports, correspondence, financial statements or other documents, containing 0 financial or other information relative to the Town, which have been or may hereafter be furnished or disclosed to purchasers of said Note and we express no opinion;with respect to any such financial or other information or the accuracy or sufficiency thereof. The form of said Note is prescribed by schedule B, 2 of the Local Finance Law of the State of New York, but we have not examined the executed Note. Very trulyours, r- UNITED STAVES OF Ah4ERICA NO. 1 STATE OF NEW YORK $79,000 COUNTY OF SUFFOLK TOWN OF SOUTHOLD BOND ANTICIPATION NOTE FOR STREET SWEEPER -1985 The Town of Southold, in the county of Suffolk, a municipal corporation of the State of New York, hereby acknowledges itself indebted and fqr value received promises to pay to the bearer of this Note, or If it be registered, to the registered holder, the sum of Seventy—Nine Thousand----------------- - ---Dollars($ 79,000--- --) on the 1 3th day of June , 198 6 , together with interest thereon froni the date hereof at the rate of Four and 89/100 ------------------------ per' centum (4:89 %) per annum, payable, at maturity. Both principal of and interest on this Note will be paid in lawful money of the United States of America, at The Bank of New York, Greenport, New York. At the request of the holder, the Town Clerk shall convert this Note into a registered Note by registering, it in the name of the holder in the books of the Town kept in the 'office of such Town Clerk and endorsing.a certificate of such registration hereo% after which both principal of and interest on this Note shall be payable only to the registered holder, his legal representatives, successors or transferees. This Note shall then be transferable only upon presentation to such Town Clerk with a written transfer of title and such Town Clerk shall thereupon register this Note in the name of the transferee in his books and shall endorse a certificate of such registration hereon. Such transfer shall be dated, and signed by the registered holder, or his legal representatives, and it shall be duly acknowledged or proved, or in the alternative the signature thereto shall be certified as to its genuineness by an officer of a bank or trust company located and authorized to do business in this State. This Note is the only note of an authorized issue, the principal amount of which is $79,000. This Note is issued pursuant to the provisions of the Local Finance Law constituting Chapter Wa of the Consolidated Laws of the State of New York, the bond resolut ion adopted by the Town Board on March 12, 1985 and amended April 23, 1985, authorizing the issuance of $83,000 serial bonds for the acquisition of a new road sweeper and the trade-in of a road sweeper owned by the Town, and the Certificate of Determination executed by th"m tor on June 13 1985.' �s JUN 1 1986 The faith and credit of such Town of Southold a i yi Irrevocably pledged for the punctual payment of the principal of and inter--" v It is hereby certified and recited that all conditions, acts and things- req e y e Constitution statutes of the State of New York to exist, to have happened and to have been performed pre d in the issuance this Note, exist, have happened and have been performed, and that this Note, together with othe indebtedness of such Town of Southold is within every debt and other limit prescribed by the Constitution and laws of such State. IN WITNESS WHEREOF, the Town of Southold has caused this Note to be signed by its Supervisor and its corporate seal to be hereunto affixed and attested by its and this Note to be dated as of the 171 ay of June 19 85. TOWN/by SOU ATTEST. a. ;Yv, OCCURITY•COLUMBIAN BANKNOTE COMPANY REGISTRATION CERTIFICATE It is hereby certified that the within Note has been registered as follows: E CERTIFICATE OF DETERMINATION BY THE SUPERVISOR RELATIVE TO AUTHORIZATION, SALE, ISSUANCE, FORM AND CONTENTS OF A $79,000 BOND ANTICIPATION NOTt FOR STREET SWEEPER -1985 OF THE TOWN OF SOUTHOLD, NEW YORK. I, Francis J. Murphy, Supervisor of the Town of Southold, New York (herein called the "Town"), HEREBY CERTIFY that pursuant to the powers and duties delegated to me, the chief fiscal officer of the Town, by the Town Board of the Town, pursuant to the resolution duly adopted and as referred to in paragraph 1 hereof, and subject to the limitations, prescribed in said resolution, I have made the following determinations: 1. A bond anticipation note (the "Note") of the Town in the principal amount of $79,000 shall be issued in anticipation of the sale of serial bonds authorized pursuant to the resolution entitled: "Bond Resolution of the Town of Southold, New York, adopted March 12, 1985 and amended April 23, 1985, authorizing (A) acquisition of a new diesel powered mobile road sweeper, and (B) trade-in of the 1974 road sweeper owned by the Town and application of the $2,000 trade-in value towards the cost of such mobile road sweeper for use by the Town, stating the estimated maximum cost thereof is $85,000, appropriating said amount therefor, and authorizing the issuance of $83,000 serial bonds of said Town to finance said appropriation," duly adopted by the Town Board on the date therein referred to. 2. The terms, form and details of said Note shall be as follows: Amount and Title: $79,000 Bond Anticipation Note for Street Sweeper -1985 Dated: Matures: Number and Denomination: Interest Rate per annum: June 13, 1985 June 13, 1986 Number 1, at $79,000 4.89 Form of Note: Substantially in accordance with form prescribed by Schedule B, 2 of the Local Finance Law of the State of New York. 3. Said Note is not issued in renewal of any note or notes. 4. The amount of bond anticipation notes originally issued in anticipation of the issuance of serial bonds authorized pursuant to the resolution referred to in paragraph 1 hereof, including the Note, is $83,000, and the amount of bond anticipation notes which will be outstanding after the issuance of the Note, including said Note will be $79,000. 5. The serial bonds authorized pursuant to the resolution referred to in paragraph 1 hereof are for an improvement which is non -assessable. 6. Pursuant to said powers and duties delegated to me, I DO HEREBY AWARD AND SELL said Note as follows: to The Bank of New York, Greenport, New York , for the purchase price of $79,000, plus accrued interest, if any, from the date of said Note to the date of delivery thereof, and I FURTHER DETERMINE that said Note shall be payable as to both principal and interest at ThP Rank of New York. Greenport, New York , and shall bear interest at the rate of Four 8 89/100 per centum (4.89 %) per annum, payable at maturity 7. Said Note shall be executed in the name of the Town by its Supervisor and the corporate seal of the Town shall be affixed thereto and attested by its Town Clerk. I HEREBY FURTHER CERTIFY that the powers and duties delegated to me to issue and sell the Note hereinabove referred to are in full force and effect and have not been modified, amended or revoked. IN WITNESS WHEREOF, I have hereunto set hand this 13th day of June, 1985. �--� �/ ri CLERK'S CERTIFICATE Elizabeth A. Neville, Deputy I, NPUMMUIXX� Town Clerk of the Town of Southold, in the County of Suffolk, New York, HEREBY CERTIFY that I have compared the foregoing copy of the Certificate of Determination executed by the Supervisor and the same is a true and complete/Deputy copy of the Certificate filed with said Town in my office as Town Clerk on the 13th day of June, 1985; and I FURTHER CERTIFY that no resolution electing to reassume any of the powers or duties mentioned in said Certificate and delegated to the Supervisor by the resolution cited in said Certificate has been adopted by said Town Board. (SEAL) IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of said Town this 13th day of June, 1985. Deput3O Town Cle a • IN CERTIFICATES AS TO SIGNATURES, LITIGATION, AND DELIVERY AND PAYMENT WE, the undersigned officers of the Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York and herein referred to as the "Town", HEREBY CERTIFY, that on or before June 13, 1985, we officially signed and properly executed by manual signatures a $79,000 Bond Anticipation Note for Street Sweeper -1985 (the "Note") of the Town, payable to bearer and otherwise described in Schedule A annexed hereto and by this reference made a part hereof, and that at the time of such signing and execution and on the date hereof we were and are the duly chosen, qualified and acting officers of the Town authorized to execute said Note and holding the respective offices indicated by the official titles set opposite our signatures hereto for terms expiring on the respective dates set opposite such titles. WE FURTHER CERTIFY that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of said Note or the levy or collection of any taxes to pay the interest on or principal of said Note, or in any manner questioning the authority or proceedings for the issuance of said Note or for the levy or collection of said taxes, or relating to said Note or affecting the validity thereof or the levy or collection of said taxes, that neither the! corporate existence or boundaries of the Town nor the title of any of the present officers thereof to their respective offices is being contested, and that no authority or proceedings for the issuance of said Note has or have been repealed, revoked or,rescinded. WE FURTHER CERTIFY that the seal which is impressed upon this certificate has been affixed, impressed, imprinted or otherwise reproduced upon said Note and is the legally adopted, proper and only official corporate seal of the Town. And, I, Francis J. Murphy, Supervisor, HEREBY FURTHER CERTIFY that on June U, 1985, I delivered said Note to The Bank of New York Greenport; New York , the purchaser thereof, and that at the time of such delivery of said Note, I received from said purchaser the amount hereinbelow stated, in full payment for said Note, computed as follows: Price ............................... $79,000 Interest on said Note accrued to the date of such delivery ............. -0- Amount Received ..................... $79,000 (SEAL) 0 0 t IN WITNESS WHEREOF, we have hereunto set our hands and said corporate seal has hereunto been affixed this 13th day of June, 1985. Term of Office Expires Title ecember 31, 1985 Supervisor ecember 31, 1985Deputy Town Clerk SIFY that the signatures of theofficers of the above-named Town, which appear above, are true and genuine and that know said officers and know them to hold the res cti office�a�t opposite their signatures. (S' nature) (Wtle of The Bank of New York (Name of Bank) ATTORNEY'S CERTIFICATE I, Robert W. Tasker, HEREBY CERTIFY that I am a licensed attorney at law of the State of New York having offices at 425 Main Street, Greenport, New York, and am the duly chosen, qualified and acting Town Attorney of the Town of Southold, in the County of Suffolk, a municipal corporation of -the State of New York and herein referred to as the "Town", that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of the Note of 'the Town, payable to bearer and otherwise described as set forth in Schedule A annexed hereto and by this reference made a part hereof or the levy or collection of any taxes to pay the interest on or principal of said Note, or in any manner questioning the authority or proceedings for the issuance of said Note or for the levy or collection of said taxes, or relating to said Note or affecting the validity thereof or the levy or collection of said taxes, that neither the corporate existence or boundaries of the Town nor the title of any of the present officers -thereof to their respective offices is being contested, and that no authority or proceedings for the issuance of said ]Vote has or have been repealed, revoked or rescinded. IN WITNESS WHEREOF, I have hereunto set m,y hand this 13th day of June. 192S _ __z . 6z� oa�al� Attorney Amount and Title Dated: Matures: Number and Denomination: Interest Rate per annum: SCHEDULE A $79,000 Bond Anticipation Note for Street Sweeper -1985 June 13, 1985 June 13, 1986 Number 1, at $79,000 4.89 AFFIDAVIT AS TO NO CONFLICT OF INTEREST STATE OF NEW YORK .ss: COUNTY OF SUFFOLK Elizabeth A. Neville being duly sworn upon hher oath deposes and says: Deputy (1) I am the duly appointed, qualified and acting Town Clerk of the Town of Southold, in the County of Suffolk, New York (herein and in Schedule A annexed hereto called "Town"); (2) That with respect to the contract of sale of the Note of the Town described in the Certificate of Determination executed by the Supervisor on the 13th day of June, 1985, to the financial institution indicated in such Certificate, I have made a careful inquiry of each officer and employee of the Town having the power or duty to (a) negotiate, prepare, authorize or approve the contract or authorize or approve payment thereunder, (b) audit bills or claims under the contract, or (c) appoint an officer or employee who has any of the powers or duties set forth above, as to whether or not such officer or employee has an interest (as defined pursuant to Article 18 of the General Municipal Law) in such contract; (3) That upon information and belief, as a result of such inquiry, no such officer or employee has any such interest in said contract unless otherwise noted in Schedule A annexed hereto and by this reference made a part hereof. Deputy Town Clerk Subscribed and sworn to before me thiA 13th day o� June, 1985. No;ff*'Publid, State of New York ANN M AP.ATE NOTARY PUBLIC, Owe 0 N" York Suffolk Cuuniv Nc 4749 183 Term Expnos W-00 30, i�-y� SCHEDULE A 0 1. is a stockholder of the Purchaser owning or controlling, directly or indirectly, less than five per centum (5%) of the outstanding stock thereof but no disclosure of such interest by said officer is required pursuant to said Law; 2. , has an interest in the Purchaser solely by reason of employment as an officer or employee thereof, but the remuneration of such employment will not be directly affected as a result of said contract and the duties of such employment do not directly involve the procurement:, preparation or performance of any such part of such contract. , has publicly disclosed the nature and extent of such interest in writing to the governing board of the Town. Such written disclosure has been made a part of and set forth in the official record of proceedings of. the Town. ARBITRAGE CERTIFICATE 0 I, Francis J. Murphy,,Supervisor of the 'Town of Southold (the "Town"), in the County of Suffolk, New York, HEREBY CERTIFY and reasonably expect with respect to the issuance of the $79,000 Bond Anticipation Note for Street Sweeper -1985 (the "Note") of the Town, dated June 13, 1985, as follows: 1. The proceeds of sale of the Note will be used to provide funds for the purpose described (the "Project") in the resolution entitled: "Bond Resolution of the Town of Southold, New York, adopted March 12, 1985 and amended April 23, 1985, authorizing (A) acquisition of a new diesel powered mobile road sweeper, and (B) trade-in of the 1974 road sweeper owned by the Town and application of the $2,000 trade-in value towards the cost of such mobile road sweeper for use by the Town, stating the estimated maximum cost thereof is $85,000, appropriating said amount therefor, and authorizing the issuance of $83,000 serial bonds of said Town to finance said appropriation," adopted by the Town Board of the Town on the date therein referred to. 2. No bond anticipation notes have been heretofore issued in anticipation of the sale of the serial bonds authorized to be issued for the Project pursuant to the bond resolution hereinabove cited in paragraph 1 hereof. 3. The Town has entered (or will enter within six months from the date of this Certificate) into binding commitment(s) for the acquisition, construction or accomplishment of the Project, and the amount of such commitment(s) with respect to the Project will or do exceed the lesser of an amount equal to 2-1/2% of $83,000, being the aggregate amount of obligations originally issued for the Project, or $100,000. 4. The Project has/has not been completed: it is reasonably expected that more than 85% of the proceeds of sale of the Note will be expended within three years from the date of this Certificate. Work on the acquisition, construction or accomplishment of the Project will proceed or is proceeding with due diligence to completion. S. The total proceeds of sale of all bond anticipation notes issued to date for the Project do not exceed the total cost of the Project. 6. The Project will not be sold or otherwise disposed of in whole or in part except for incidental sales of surplus El items the proceeds of which will not constitute net operating profits or net capital profits to the Town. 7. The Note will be,paid from taxes and the proceeds of other obligations of the Town issued to fund the Note. 8. The taxes used to pay principal and interest on the Note, whether or not deposited in a debt service fund, will be expended within 13 months of the date of deposit in such fund, or the date of their accumulation, in the payment of debt service on the Note. Any amounts received from the investment of such deposit or accumulation will be expended within one year of receipt. The debt service fund, if any, is used to accumulate sufficient funds in each year so that sufficient funds will be available to pay principal and interest due on the Note and other obligations of the Town coming due in each such year. 9. Except for the.debt service fund described herein the Town has not created or established, and does not expect to create or establish, any sinking fund or other similar fund which the Town reasonably expects to use to pay principal or interest on the Note. 10. The Town has not received notice that it has been listed by the Commissioner of Internal Revenue as an issuer that may not certify its obligations, nor has it been advised that the Commissioner is contemplating listing the Town as a governmental unit that may not certify its obligations. On the basis of the foregoing, it is not expected that the proceeds of sale of the Note will be used in a manner that would cause the Note to be "arbitrage bonds" under Section 103(c) of the Internal Revenue Code of 1954, as amended, and the Income Tax Regulations prescribed thereunder. To the beet of my knowledge and belief, there are not other facts, estimates or circumstances that would materially change the foregoing conclusion. I am one of the officers of the Town of Southold charged by the resolution of the Town Board of said Town hereinabove cited in paragraph 1 hereof with the responsibility for issuing the Note and, as such, am an official whose certification may be relied upon as the certification of the Town as referred to in Section 103(c) of the Internal Revenue Code of 1954, as amended, and Sections 1.103-13, 1.103-14 and 1.103-15 of the Income Tax Regulations thereunder. Neither I nor the Town has been notified or advised by the Internal Revenue Service of any contemplated publication of a notice in the Internal Revenue Bulletin that the certification of the Town as to arbitrage status may no longer be relied upon by purchasers of its bonds or notes. This certification has been delivered as part of the record of proceedings and accompanying certificates with respect to the issuance of the Note. (SEAL) IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of the Town of Southold, this 13th day of June, 1985. ATTORNEY AT LAW Hon. Judith T. Terry Town Clerk Town of Southold Main Road Southold, New York 11971 Dear Judy; JUL 3 01996 Tew rk SWAIId 425 MAIN STREET R. 0. BOX 10 GREENRORT, NEW YORK 11944 516-477-1400 July 29, 1985 Re: Bond Anticipation Note for Street Sweeper - $79, 000. 00 - 1985 I enclose herewith a signed copy of the final approving opinion of Hawkins, Delafield and Wood with respect to the Bond Anticipation Note sold to The Bank of New York on June 13, 1985. Also enclosed is the statement of services rendered by Hawkins, Delafield and Wood with respect to this matter. Yours very truly, ROBERT W. TASKER 11"'UhAITTr enc. June 13, 1985 The Town Board of the Town of Southold, in the County of Suffolk, New York Dear Sirs: We have examined a record of proceedings relating to the issuance of a $79,000 Bond Anticipation Note for Street Sweeper - 1985 of the Town of Southold, in the County of Suffolk,'a municipal corporation of the State of New York. Said Note is dated June 13, 1985, matures June 13, 1986, is numbered 1, bears interest at the rate of four and eighty-nine hundredths per centum (4.89%) per annum, payable at maturity, is of the denomination of $79,000, is payable to bearer without coupons and registrable as to both principal and interest, is issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York, the bond resolution adopted by the Town Board on March 12, 1985 and amended April 23, 1985, authorizing the issuance of $83,000 serial bonds for the acquisition of a new road sweeper and the trade-in of a road sweeper owned by the Town, and the Certificate of Determination executed by the Town Supervisor on June 13, 1985.. Said bond anticipation note is a temporary obligation issued in anticipation of the sale of permanent serial bonds. In our opinion, the Note is a valid and legally binding general obligation of the Town for which the Town has validly pledged its faith and credit and, unless paid from other sources, all the taxable real property within the Town is subject to the levy of ad valorem real estate taxes to pay the Note and interest thereon without limitation of rate or amount. The enforceability of rights or remedies with respect to such Note may be limited by bankruptcy, insolvency, or other laws affecting creditors' rights or remedies heretofore or hereafter enacted. Further, in our opinion, the interest on said Note is exempt under existing statutes from Federal income taxes, and under existing statutes from New York State and New York City personal income taxes. Other than such record of proceedings, we have not been requested to examine or review and have not examined or reviewed the accuracy or sufficiency of any additional proceedings, reports, correspondence, financial statements or other documents, containing financial or other information relative to the Town, which have been or may hereafter be furnished or disclosed to purchasers of said Note and we express no opinion with respect to any such financial or other information or the accuracy or sufficiency thereof. The form of said Note is prescribed by schedule B, 2 of the Local Finance Law of the State of New York, but, we have not examined the executed Note. Very trul yours, ��re+w 2�2/ 820 - 900 %Ile " July 18, 1985 (Our File designation: 729/22) TOWN OF SOUTHOLD, NEW YORK to Hawkins, Delafield & Wood TO professional services rendered the Town of Southold, in the County of Suffolk, New York, in the matter of the authorization, sale, preparation, and issuance of a $79,000 Bond Anticipation Note for Street Sweeper -1985, dated June 13, 1985, numbered 1, and rendering of our final approving opinion. FEE $410.00 So K 'r.I' STATE OF NEW YORK ) : SS COUNTY OF NEW YORK) GERARD FERNANDEZ, JR. , being duly sworn deposes and says: That he is a member of the firm of HAWKINS, DELAFIELD & WOOD and is familiar with the attached claim against the Town of Southold, in the County of Suffolk, New York; that the claim is just and true, and that the services have been rendered; that no bonus has been given or received by any person or persons with the knowledge of the said deponent in connection with the attached claim, and that it is in all respects a bona fide and fair claim, and that the amount is a proper and reasonable one. Subscribed and sworn to before me this 18th day Of July, 1985. JOAN A. STAPLETON Notary Public, State of New York No. 43-4667549 Oualified in Ric"mond County Term Expires March 30, 1986 ROBERT W. TASKER "Town Attorney JUN 17 Tem 00* soullhow I • ... is db tir OFFIC��(QF T° i ORNEY (, �.; TOWN 4!F,.Sp r'�HQLD 71 425 MAIN ST. GREENPORT, L.I., NEW YORK 11944 June 13, 1985 Hon. Francis J. Murphy Supervisor of the Town of Southold Town Hall Main Road Southold, New York 11971 Re: Sale of $79,000.00 Bond Anticipation Note Street Sweeper - 1985 Dear Sir: TELEPHONE (516) 477-1400 This is to advise you that the above captioned Bond Anticipation Note was sold to The Bank of New York on June 13, 1985, at an interest rate of 4.89%. In addition to The Bank of New York, bids were also received from The North Fork Bank S Trust Co. at 5.25%; Chemical Bank at 5.05% and Suffolk County National at 5.190. Relative to the sale, I enclose herewith the following: 1. Copy of Bond Anticipation Note. 2. Affidavit of Town Clerk relative to conflict of interest. 3. Closing Certificates. 4. Certificate of Determination of Supervisor. 5. Attorney's Certificate. Yours very truly, ROBERT W. TASKER c RWT :aa encs. cc: Hon. Judith T. Terry 'STATE OF NEW YORK879,000 ` r>' No. 1 UNITED STAVES OF AMERICA COUNTY OF SUFFOLK 'TOWN OF SOUTHOLD BOND ANTICIPATION.NOTE`FM STREET'SWEEPLR-1985 The Town of 'Southold,' ' n the county' of Suffolk,,a municipal corporation of the State of New York, beieby acknowledges ltself indebted and ' fqr value received prowls"to pay -to the bearer of this .Note, or if it be registered, to the registered holder, the, sum of Seventy -Nine Thousand--- - ---- - - --- Dollars 79,000- -T-� - - 'on the 13th day of June I9$6 to —wl , x with, interest gethe thereon from the date, 'hereof at. the ra#e 4f )', lam' able, Four and 891100--------------- ------ „, per centum x.89 96annum,,pay 4t maturlty. , Both prhlclpal of and GGereat on this Note wul' be paid in lawful money of the United States of America,' at The Bank, of New York, _Greenport, New;York. i At the request of the holder, the Town .Clerk BW convert thia Note Into a registeredNote by registering it in the name of the holder in the books outhe Town kept In the, office _ of such Town Clerk and endorsing: a certificate of such registration hereo% after which both principal of and interest on this Note shall be a able'onl tb the x _ p P Y y � registered holder, his legal repreacatativea, successors or transferees. This Note shall than be transferable only upon Presentation to suclii .TQ ,Clerk with a written transfer of title and such Town Clerk, thereupon regla�er Note in the name of the transferee in his books and shall endorse a certileute of such registration hereon. Such transfer shall be dated, and signed by the registered holder, or his legal representativee, and it shall be duly acknowledged or proved, or in the alternative the signature thereto shall, be certified as to its genuineness by an officer of a bank or trust company 14cated authorized to do business in this State. and This Note is the only note of an authorized issue, the principal amount, of which is $ 79 ,:000 This Mote is issued pursuant to, the provisions of the Focal Fluauce, Law a�ptltutiag hapbar Awa of the CoasoHdatad Laws of the State of New York, the ,.bond reso1ut son - adop&T, -by . t e Town Board on A March 12= � 1985 and:,,amended,,i4ri1 - 3, 1985,' aUtho�rizin�gthe issiaan cert of $83,000 serial bonds 'for the.acquisitiQn,of anew road sweeper i,� and,: the trade -.gin' oil a road sweeper owned ,by the, Town, and the ' Certificate of Determination''°executed by the Town Supervisor on June 13 1985. The faith and credit of such Town of Southold are hereby .' Irrevocably pledged for the punctual payment of the principal ' of and interest on this Note according to its terms., It is hhere6by certified and recited that all conditions, acts and thin a' required by the Constitution and statutes' of the ' state of New York to exist, to have happened and to have been performe�preaalent to and in the issuance of this Ir'ote, exist,_• have happened and have been performed, and that this Note, together with all other indebtedness of such Town w Of Southold: is within everydebt 'aud other_ 11mit 'prescribed by the Constitution andlaws of anah States`�v`. IN WITNESS WHEREOF, the Town. of Southold,„ has caused this Note to be signed b its Supervisor and its corporate seal to be hereunto affixed and attested by its and this Note to be dated as of the 1 y of June 30 85 TOW SOUT / A' ESTe D upery or own Clerk �..� ORCURITY.COLYMaIAN MANKNOTR COMPANY 4 • CERTIFICATE OF DETERMINATION BY THE SUPERVISOR RELATIVE TO AUTHORIZATION, SALE, ISSUANCE, FORM AND CONTENTS OF A $79,000 BOND ANTICIPATION NOTE FOR STREET SWEEPER -1985 OF THE TOWN OF SOUTHOLD, NEW YORK. I, Francis J. Murphy, Supervisor of the Town of Southold, New York (herein called the "Town"), HEREBY CERTIFY that pursuant to the powers and duties delegated to me, the chief fiscal officer of the Town, by the Town Board of the Town, pursuant to the resolution duly adopted and as referred to in paragraph 1 hereof, and subject to the limitations prescribed in said resolution, I have made the following determinations: 1. A bond anticipation note (the "Note") of the Town in the principal amount of $79,000 shall be issued, in anticipation of the sale of serial bonds authorized pursuant to the resolution entitled: "Bond Resolution of the Town of Southold, New York, adopted March 12, 1985 and amended April 23, 1985, authorizing (A) acquisition of a new diesel powered mobile road sweeper, and (B) trade-in of the 1974 road sweeper owned by the Town and application of the $2,000 trade-in value towards the cost of such mobile road sweeper for use by the Town, `stating the estimated maximum cost thereof is $85,000, appropriating said amount therefor, and authorizing the issuance of $83,000 serial bonds of said Town to finance said appropriation," duly adopted by the Town Board on the date therein, referred to. 2. The terms, form and details of said Note shall be as follows: Amount and Title: $79,000 Bond Anticipation Note for Street Sweeper -1985 Dated: Matures: Number and Denomination: Interest Rate per annum: June 13, 1985 June 13, 1986 Number 1, at $79,000 4.89 Form of Note: Substantially in accordance with form prescribed by Schedule B, 2 of the Local Finance Law of the State of New York. 3. Said Note is not issued in renewal of any note or notes. 4. The amount of bond anticipation notes originally issued in anticipation of the issuance of serial bonds authorized pursuant to the resolution referred to in paragraph 1 hereof, including the Note, is $83,000, and the amount of bond anticipation notes which will be outstanding after the issuance of the Note, including said Note will be $79,000. S. The serial bonds authorized pursuant to the resolution referred to in paragraph 1 hereof are for an improvement which is non -assessable. 6. Pursuant to said powers and duties delegated to me, I DO HEREBY AWARD AND SELL said Note as follows: to The Bank of New York, Greenport, New York , for the purchase price of $79,000, plus accrued interest, if any, from the date of said Note to the date of delivery thereof, and I FURTHER DETERMINE that said Note shall be payable as to both principal and interest at The Rank of New York, Greenport. New York , and shall bear interest at the rate of Four S 89/100 per centum (4.89 %) per annum, payable at maturity 7. Said Note shall be executed in the name of the Town by its Supervisor and the corporate seal of the Town shall be affixed thereto and attested by its Town Clerk. I HEREBY FURTHER CERTIFY that the powers and duties delegated to me to issue and sell the Note hereinabove referred to are in full force and effect and have not been modified, amended or revoked. IN WITNESS WHEREOF, I have hereunto set 13th day of June, 1985. hand this CLERK'S CERTIFICATE I, 2 x�'xx�rx:eV Neville, Deputy the Town of Southold, in the County of Suffolk, New York, HEREBY CERTIFY that I have compared the foregoing copy of the Certificate of Determination executed by the Supervisor and the same is a true and complete copy of the Certificate filed with said Town in my office as Town Clerk on the 13th day of June, 1985; and I FURTHER CERTIFY that no resolution electing to reassume any of the powers or duties mentioned in said Certificate and delegated to the Supervisor by the resolution cited in said Certificate has been adopted by said Town Board. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate! seal of said Town this 13th day of June, 1985. (SEAL) Depiay Town Clei 0 CERTIFICATES AS TO SIGNATURES, LITIGATION, AND DELIVERY AND PAYMENT WE, the undersigned officers of the Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York and herein referred to as the "Town", HEREBY CERTIFY, that on or before June 13, 1985, we officially signed and properly executed by manual signatures a $79,000 Bond Anticipation Note for Street Sweeper -1985 (the "Note") of the Town, payable to bearer and otherwise described in Schedule A annexed hereto and by this reference made a part hereof, and that at the time of such signing and execution and on the date hereof we were and are the duly chosen, qualified and acting officers of the Town authorized to execute said Note and holding the respective offices indicated by the official titles set opposite our signatures hereto for terms expiring on the respective dates set opposite such titles. WE FURTHER CERTIFY that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of said Note or the levy or collection of any taxes to pay the interest on or principal of said Note, or in any manner questioning the authority or proceedings for the issuance of said Note or for the levy or collection of said taxes, or relating to said Note or affecting the validity thereof or the levy or collection of said taxes, that neither the; corporate existence or boundaries of the Town nor the title of any of the present officers thereof to their respective offices is being contested, and that no authority or proceedings for the issuance of said Note has or have been repealed, revoked or,rescinded. WE FURTHER CERTIFY that the seal which is, impressed upon this certificate has been affixed, impressed, imprinted or otherwise reproduced upon said Note and is the legally adopted, proper and only official corporate seal of the Town. And, I, Francis J. Murphy, Supervisor, HEREBY FURTHER CERTIFY that on June a, 1985, I delivered said Note to The Bank of New York Greenport, New York , the purchaser thereof, and that at the time of such delivery of said Note, I received from said purchaser the amount hereinbelow stated, in full payment for said Note, computed as follows: Price..... . $79,000 Interest on said Note accrued to the date of such delivery ............. -0- Amount Received ..................... $79,000 (SEAL) IN WITNESS WHEREOF, we have hereunto set our hands and said corporate seal has hereunto been affixed this 13th day of June, 1985. Term of Office Expires Title !ember 31, 1985 Supervisor ember 31, 1985 Deputy Town Clerk I HEREBY CERTIFY that the signatures of -the officers of the above-named Town, which appear above, are true and genuine and tha ow said officers and know them to hold the resp iv ffices opposite their signatures. of The Bank of New York (Sig re (Ti e) (Name of Bank) ATTORNEY'S CERTIFICATE I, Robert W. Tasker, HEREBY CERTIFY that I am a licensed attorney at law of the State of New York having offices at 425 Main Street, Greenport, New York, and am the duly chosen, qualified and acting Town Attorney of the Town of Southold, in the County of Suffolk, a municipal corporation of the State of New York and herein referred to as the "Town", that no litigation of any nature is now pending or threatened restraining or enjoining the issuance or delivery of the Note of the Town, payable to bearer and otherwise described as set forth in Schedule A annexed hereto and by this reference made a part hereof or the levy or collection of any taxes to pay the interest on or principal of said Note, or in any manner questioning the authority or proceedings for the issuance of said Note or for the levy or collection of said taxes, or relating to said Note or affecting the validity thereof or the levy or collection of said taxes, that neither the corporate existence or boundaries of the Town nor the title of any of the present officers thereof to their respective offices is being contested, and that no authority or proceedings for the issuance of said Note has or have been repealed, revoked or rescinded. IN WITNESS WHEREOF, I have hereunto set my hand this 13th day of June, 1985. I Attorney Amount and Title: Dated: Matures: Number and Denomination: Interest Rate per annum: SCHEDULE A $79,000 Bond Anticipation Note for Street Sweeper -1985 June 13, 1985 June 13, 1986 Number 1, at $79,000 4.89 • • AFFIDAVIT AS TO NO CONFLICT OF INTEREST STATE OF NEW YORK .ss: COUNTY OF SUFFOLK Elizabeth A. Neville being duly sworn upon his/her oath deposes and says: /Deputy (1) I am the duly appointed, qualified and acting Town Clerk of the Town of Southold, in the County of Suffolk, New York (herein and in Schedule A annexed hereto called "Town"); (2) That with respect to the contract of sale of the Note of the Town described in the Certificate of Determination executed by the Supervisor on the 13th day of June, 1985, to the financial institution indicated in such Certificate, I have made a careful inquiry of each officer and employee of the Town having the power or duty to (a) negotiate, prepare, authorize or approve the contract or authorize or approve payment thereunder, (b) audit bills or claims under the contract, or (c) appoint an officer or employee who has any of the powers or duties set forth above, as to whether or not such officer or employee has an interest (as defined pursuant to Article 18 of the General Municipal Law) in such contract; (3) That upon information and belief, as a result of such inquiry, no such officer or employee has any such interest in said contract unless otherwise noted in Schedule A annexed hereto and by this reference made a part hereof. Subscribed and sworn to before me th' 13th day o June, 1985. N tary Public, State of New York ANN M. ABATE NOTARY PUBLIC, State of New York Suffolk County No. 474819 Term Exprres March 30. 19 7 SCHEDULE A 1. , is a stockholder of the Purchaser owning or controlling, directly or indirectly, less than five per centum (5%) of the outstanding stock thereof but no disclosure of such interest by said officer is required pursuant. to said Law; 2. , has an interest in the Purchaser solely by reason of employment as an officer or employee thereof, but the remuneration of such employment will not be directly affected as a result of said contract and the duties of such employment do not directly involve the procurement:, preparation or performance of any such part of such contract. has publicly disclosed the nature and extent of such interest in writing to the governing board of the Town. Such written disclosure has been made a. part of and set forth in the official record of proceedings of the Town. ARBITRAGE CERTIFICATE • I, Francis J. Murphy, Supervisor of the Town of Southold (the "Town"), in the County of Suffolk, New York, HEREBY CERTIFY and reasonably expect with respect to the issuance of the $79,000 Bond Anticipation Note for Street Sweeper -1985 (the "Note") of the Town, dated June 13, 1985, as follows: 1. The proceeds of sale of the Note will be used to provide funds for the purpose described (the "Project") in the resolution entitled: "Bond Resolution of the Town of Southold, New York, adopted March 12, 1985 and amended April 23, 1985, authorizing (A) acquisition of a new diesel powered mobile road sweeper, and (B) trade-in of the 1974 road sweeper owned by the Town and application of the $2,000 trade-in value towards the cost of such mobile road sweeper for use by the Town, stating the estimated maximum cost thereof is $85,000, appropriating said amount therefor, and authorizing the issuance of $83,000 serial bonds of said Town to finance said appropriation," adopted by the Town Board of the Town on the date therein referred to. 2. No bond anticipation notes have been. heretofore issued in anticipation of the sale of the serial bonds authorized to be issued for the Project pursuant to the bond 'resolution hereinabove cited in paragraph 1 hereof. 3. The Town has entered (or will enter within six months from the date of this Certificate) into binding commitment(s) for the acquisition, construction or accomplishment of the Project, and the amount of such commitment(s) with respect to the Project will or do exceed the lesser of an amount equal to 2-1/2% of $83,000, being the aggregate amount of obligations originally issued for the Project, or $100,000. 4. The Project has/has not been completed: it is reasonably expected that more than 85% of the proceeds of sale of the Note will be expended within three years from the date of this Certificate. Work on the acquisition, construction or accomplishment of the Project will proceed or is proceeding with due diligence to completion. 5. The total proceeds of sale of all bond anticipation notes issued to date for the Project do not exceed the total cost of the Project. 6. The Project will not be sold or otherwise disposed of in whole or in part except for incidental sales of surplus 9 items the proceeds of which will not constitute net operating profits or net capital profits to the Town. 7. The Note will be paid from taxes and the proceeds of other obligations of the Town issued to fund the Note. 8. The taxes used to pay principal and interest on the Note, whether or not deposited in a debt service fund, will be expended within 13 months of the date of deposit in such fund, or the date of their accumulation, in the payment of debt service on the Note. Any amounts received from the investment of such deposit or accumulation will be expended within one year of receipt. The debt service fund, if any, is used to accumulate sufficient funds in each year so that sufficient funds will be available to pay principal and interest due on the Note and other obligations of the Town coming due in each such year. 9. Except for the,debt service fund described herein the Town has not created or established, and does not expect to create or establish, any sinking fund or other similar fund which the Town reasonably expects to use to pay principal or interest on the Note. 10. The Town has not received notice that it has been listed by the Commissioner of Internal Revenue as an issuer that may not certify its obligations, nor has it been advised that the Commissioner is contemplating listing the Town as a governmental unit that may not certify its obligations. On the basis of the foregoing, it is not expected that the proceeds of sale of the Note will be used in a manner that would cause the Note to be "arbitrage bonds" under Section 103(c) of the Internal Revenue Code of 1954, as amended, and the Income Tax Regulations prescribed thereunder. To the best of my knowledge and belief, there are not other facts, estimates or circumstances that would materially change the foregoing conclusion. I am one of the officers of the Town of Southold charged by the resolution of the Town Board of said Town hereinabove cited in paragraph 1 hereof with the responsibility for issuing the Note and, as such, am an official whose certification may be relied upon as the certification of the Town as referred to in Section 103(c) of the Internal Revenue Code of 1954, as amended, and Sections 1.103-13, 1.103-14 and 1.103-15 of the Income Tax Regulations thereunder. Neither I nor the Town has been notified or advised by the Internal Revenue Service of any contemplated publication of a notice in the Internal Revenue Bulletin that the certification of the Town as to arbitrage status may no longer be relied upon by purchasers of its bonds or notes. This certification has been delivered as part of the record of proceedings and accompanying certificates with respect to the issuance of the Note. (SEAL) IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of the Town of Southold, this 13th day of June, 1985. NOTICE The resolution published herewith has been adopted on the 12th day of March, 1985, and amended on the 23rd day of April, 1985, 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 the TOWN OF SOUTHOLD, in the County of Suffolk, New York, is not au- thorized to 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 substan- tially complied with, and an ac- tion, suit or proceeding contest- ing such validity is commenced within twenty days after the pub- lication of this Notice, or such ob- ligations were authorized in vio- lation of the provisions of the con- stitution. JUDITH T. TERRY Town Clerk BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED MARCH 12, 1985 AND AMENDED APRIL 23, 1985, AUTHORIZING (A) ACQUIS- ITION OF A NEW DIESEL POWERED MOBILE ROAD SWEEPER, AND (B) TRADE- IN OF THE 1974 ROAD SWEEPER OWNED BY THE TOWN AND APPLICATION OF THE $2,000 TRADE-IN VALUE TOWARDS THE COST OF SUCH MOBILE ROAD SWEEPER FOR USE BY THE TOWN, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $85,000, APPROPRIAT- ING SAID AMOUNT THERE- FOR, AND AUTHORIZING THE ISSUANCE OF $83,000 SERIAL BONDS OF SAID TOWN TO FINANCE SAID APPROPRIATION. THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, HEREBY RE- SOLVES (by the favorable vote of not less than two-thirds of all the members of said Town Board) AS FOLLOWS: Section 1. The Town of South- old, in the County of Suffolk, New York (herein called "Town"), is hereby authorized to (a) acquire by purchase a new diesel powered mobile road sweeper, and (b) trade-in the 1974 road sweeper owned by the Town and apply the $2,000 trade- in value towards the cost of such mobile road sweeper for use by the Town. The estimated maximum cost of said specific ob- ject or purpose, including pre- liminary costs and'costs inciden- tal thereto and the financing thereof, is $85,000 and said amount is hereby appropriated therefor. The plan of financing includes the issuance of $83,000 serial bonds of the Town to fi- nance said appropriation, and the levy and collection of taxes on all the taxable real property in the Town to pay the principal of said bonds and the interest thereon as the same shall become due and payable. Section 2. Serial bonds of the Town in the principal amount of $83,000, are hereby authorized to be issued pursuant to the pro- visions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York (herein called "Law") to finance said appropria- tion. Section 3. The following addi- tional matters are hereby deter- mined and declared: (a) The period of probable use- fulness of said specific object or purpose for which said $83,000 serial bonds authorized pursuant to this resolution are to be issued, within the limitations of Section 11.00 a. 32 of the Law, is five (5) years. (b) Current funds are not re- quired by the Law to be provided as a down payment prior to the issuance of the bonds authorized by this resolution or any bond anticipation notes issued in anti- cipation thereof in accordance with Section 107.00 d. 5 of the Law. (c) The proposed maturity of the bonds authorized by this re- solution will not exceed five (5) years. Section 4. Each of the bonds authorized by this reoslution and any bond anticipation notes is- sued in anticipation of the sale of said bonds shall contain the recital of validity as prescribed by Section 52.00 of the Law and said bonds and any notes issued in anticipation of said bonds, shall be general obligations of the Town, payable as to both principal and interest by general tax upon all the taxable real property within the Town with- out limitation of rate or amount. The faith and credit of the Town are hereby irrevocably pledged to the punctual payment of the principal of and interest on said bonds and any notes issued in anticipation of the sale of said bonds and provision shall be made annually in the budget of the Town by appropriation for (a) the amortization and redemp- tion of the bonds and any notes in anticipation thereof to mature in such year and (b) the payment of interest to be due and payable in such year. Section 5. Subject to the provi- sions of this resolution and of the Law and pursuant to the provi- sions of Section 30.00 relative to the authorization of the issuance of bond anticipation notes and of Section 50.00 and Sections 56.00 to 60.00 of the Law, the powers and duties of the Town Board re- lative to authorizing bond antici- pation notes and prescribing the terms, form and contents and as to the sale and issuance of the bonds herein authorized and of any bond anticipation notes is- sued in anticipation of said bonds, and the renewals of said notes, are hereby delegated to the Supervisor, the chief fiscal of- ficer of the Town. Section 6. The validity of the bonds authorized by this resolu- tion and of any notes issued in anticipation of the sale of said bonds, may be contested only if: (a) such obligations are au- thorized for an object or purpose for which the Town is not authorized to expend money, or (b) the provisions of law which should be complied with at the date of the publication of such resolution 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 (c) such obligations are au- thorized in violation of the provisions of the constitu- tion. Section 7. This bond resolu- tion, as amended shall take effect immediately, and the Town Clerk of the Town, is hereby au- thorized and directed to publish the foregoing resolution, in full, as amended, together with a Notice attached in substantially the form prescribed by §81.00 of the Law in "THE LONG IS- LAND TRAVELER-MAT- TITUCK WATCHMAN," a newspaper published in South- old, New York, and in "THE SUFFOLK TIMES," a news- paper published in Greenport, New York, each having a general circulation' in the Town and hereby designated the official newspapers of said town for such publication. Section B: The amendment of the bond resolution set forth in Section A of this resolution, shall in no way affect the validity of the liabilities incurred, obliga- tions issued, or action taken pur- suant to said bond resolution, and all such liabilities incurred, obligations issued, or action taken shall be deemed to helve been incurred, issued or taken pursuant to said bond resolution, as so amended. 1TMy2-4876 STATE OF NEW YORK 1 1 SS: COUNTY OF SUFFOLK 1 of Greenport, in said County, being duly sworn, says that he/she is Principal Clerk of THE SUFFOLK TIMES, a Weekly Newspaper, published at Greenport, in the Town of Southold, County of Suffolk and State of New York, and that the Notice of which the annexed is a printed copy, has been regularly published in said Newspaper once each week for ONR weeks successively, commencing on the 2 day of may — 19Q5 Principal Clerk Sworn to before me this 2 AP'!d M. ABATE da of May State of New York k County No. 4748183 E.ptres M1tercli 30,19:17 IV.d4A., NOTICE The resolution published herewith has been adopted on the 12th day of March, 1985, and amended on the 23rd day of April, 1985, and the validity of the obligations authorized by such resolution may be hereafter contested only if such obligations were author- ized for an object or purpose for which the TOWN OF SOUTHOLD in the County of Suffolk, New York, is not authorized to expend money or if the provisions of law which should have been complied with as of the date of publica- tion of this Notice were not substantially complied with, and an action, suit or pro- ceeding contesting such valid- ity is commenced within twen- ty days after the publication of this Notice, or such obligations were authorized in violation of the provisions of the consti- tution. JUDITH T. TERRY Town Clerk BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED MARCH 12, 1985 AND AMENDED APRIL 23, 1985, AUTHORIZING (A) ACQUISI- TION OF A NEW DIESEL POWERED MOBILE ROAD SWEEPER, AND (B) TRADE- IN OF THE. 1974 ROAD SWEEPER OWNED BY THE TOWN AND APPLICATION OF THE $2,000 TRADE-IN VALUE TOWARDS THE COST OF SUCH MOBILE ROAD SWEEPER FOR USE BY THE TOWN, STATING THE ESTIMATED MAXI- MUM COST THEREOF. IS $85,000, APPROPRIATING SAID AMOUNT THEREFOR, AND AUTHORIZING THE ISSUANCE OF $83,000 SER- IAL BONDS OF SAID TOWN TO FINANCE SAID APPRO- PRIATION. THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUF- FOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote of not less than two-thirds of all the members of said Town Board) AS FOLLOWS: Section 1. The Town of Southold, in the County of Suffolk, New York (herein called "Town"), is hereby authorized to (a) acquire by purchase a new diesel power- ed mobile road sweeper, and (b) trade-in the 1974 road sweeper owned by the Town and apply the $2,000 trade-in value towards the cost of such mobile road sweeper for use by the Town. The estimated maximum cost of said specific object or purpose, including preliminary costs and costs incidental thereto and the financing thereof, is $85,000 and said amount is hereby appropriated therefor. The plan of financing includes the issuance of $83,000 serial bonds of the Town to finance said appropriation, and the levy and collection of taxes on all the taxable real property in the Town to pay the principal of said bonds and the interest thereon as the same shall become due and payable. Section 2. Serial bonds of the Town in the principal amount of $83,000, are hereby authorized to'be issued pur- suant to the provisions of the Local Finance Law, constitut- ing Chapter 33-a of the Consolidated Laws of the State of New York (herein called "Law") to finance said appro- priation. Secton 3. The following additional matters are hereby determined and declared: (a) The period of probable usefulness of said specific object or purpose for which said $83,000 serial bonds authorized pursuant to this resolution are to be issued, within the limitations of Sec- tion 11.00 a. 32 of the Law, is five (5) years. (b) Current funds are not required by the law to be COUNTY OF SUFFOLK ss: STATE OF NEW YORK Patricia Wood, being duly sworn, says that she is the Editor, of THE LONG ISLAND TRAVELER -WATCHMAN, a public newspaper printed at Southold, in Suffolk County; and that the notice of which the annexed is a printed copy, has been published in said Long Island Traveler -Watchman once each week for ..................../...... weeks /t—/ successively, commencing on the .................... day of .. .........7 ......, t A->/ Sworn to before me this ..................... day of '�e� ........... 19 .._5 ..........,. � v, z ............. Notary Public BARBARA FORBES Notary Public, Mate of New York No. 4806i346 Qualified in Suffolk County Commission Expires March 80, 19--F'67 lution or any bond anticipation notes issued in anticipation thereof in accordance with Section 107.00 d. 5 of the Law. (c) The proposed maturity of the bonds authorized by this resolution will not exceed five (5) years. Section 4. Each of the bonds authorized by this resolution and any bond anticipation notes issued in anticipation of the sale of said bonds shall contain the recital of validity as prescribed by Section 52.00 of the Law and said bonds and any notes issued in anticipa- -tidtlCVt"`iWd` bonds, shall be general obligations of the Town, payable as to both principal and interest by gen- eral tax upon all the taxable real property within the Town without limitation of rate or amount. The faith and credit of the Town are hereby irrevo- cably pledged to the punctual payment of the principal of and interest on said bonds and any notes issued in anticipa- tion of the sale of said bonds and provision shall be made annually in the budget of the _ Town by appropriation for (a) the amortization and redemp- tion of the bonds and any notes in anticipation thereof to ma- ture in such year and (b) the payment of interest to be due and payable in such year. Section 5. Subject to the provisions of this resolution and of the Law and pursuant to the provisions of Section 30.00 relative to the authorization of the issuance of bond anticipa- tion notes and of Section 50.00 and Sections 56.00 to 60.00 of the Law, the powers and duties of the Town Board relative to authorizing bond anticipation notes and pre- scribing the terms, form and contents and as to the sale and issuance of the bonds herein authorized and of any bond anticipation notes issued in anticipation of said bonds, and the renewals of said notes, are hereby delegated to the Super- visor, the chief fiscal officer of the Town. Section 6. The validity of the bonds authorized by this reso- lution and of any notes issued in anticipation of the sale of said bonds, may be contested only if: (a) such obligations are au- thorized ' for an object or purpose for which the Town is not authorized to expend mon- ey, or (b) the provisions of law which should be complied with at the date of the publication of such resolution are not sub- stantially complied with, and an action, suit or proceed- ing contesting such validity, is commenced within twenty days after the date of such publication, or (c) such obligations are authorized in violation of the provisions of the constitution. Section 7. This bond reso- lution, as amended shall take effect immediately, and the Town Clerk of the Town, is hereby authorized and direct- ed to publish the foregoing resolution, in full, as amend- ed, together with a Notice attached in substantially the form prescribed by §81.00 of the Law in "THE LONG ISLAND TRAVELER WATCHMAN," anews- paper published in South- old, New York, and in "THE SUFFOLK TIMES," a news- paper published in Green- port, New York, each having a general circulation in the Town and hereby designated the official newspapers of said Town for such publication. Section B. The amendment of the bond resolution set forth in Section A of this resolution, shall in no way affect the validity of the liabilities incur- red, obligations issued, or action taken pursuant to said bond resolution, and all such liabilities incurred, obligations issued, or action taken shall be deemed to have been incurred, issued or taken pursuant to said bond resolution, as so amended. 1T-5/2/85(8) COUNTY OF SUFFOLK ss: STATE OF NEW YORK Patricia .Wood, being duly sworn, says that she is the Editor, of THE LONG ISLAND TRAVELER -WATCHMAN, a public newspaper printed at Southold, in Suffolk County; and that the notice of which the annexed is a printed copy, has been published in said Long Island Traveler -Watchman once each week for .................. _/. , • •.. weeks ZI./ successively, commencing on the .......... s�. • • • • day of Sworn to before me this .................... . day of ........... , 19 .S ............. ............. Notary Public BARBARA FORBES Notary Public, Bute of New York No. 4806846 Qualified in Suffolk County Commission Expires March 80, 19d'6 STATE OF NEW YORK: SS: COUNTY OF SUFFOLK: R JUDITH T. TERRY, Town Clerk of the Town of Southold, New York, being duly sworn, says that she is over the age of twenty-one years; that on the 26th day of April 19 85' , she affixed a notice of which the annexed printed notice is a true copy, in a proper and substantial manner, in a most public place in the Town of Southold, Suffolk County; New York, to wit: Town Clerk Bulletin Board, Southold Town Hall, Main Road, Southold, New York 11971. Resolution of the Town of Southold, New York, adopted April 23, 1985, amending the Bond Resolution adopted March 12, 1985 re: acquisition of a new diesel powered mobile road sweeper, and trade-in of the 1974 road sweeper owned by the Town. --Amended Bond $83,000.00. Judith T. Terry Southold Town Clerk Sworn to before me this 26th day of April 1985' J Notary Public ELIIABEfH ANN NEMUE NOTARY FUBM goo of New York NO.52-E125M Suffolk Cestdf► Term Expires Ad" aq 19.8 0 9 PLEASE PUBLISH THE ATTACHED NOTICE AND BOND RESOLUTION IN ITS ENTIRETY, AND FORWARD TWO (2) AFFIDAVITS OF PUBLICATION TO JUDITH T. TERRY, TOWN CLERK, TOWN HALL, MAIN ROAD, SOUTHOLD, NEW YORK 11971. Copies to the following: The Suffolk Times The Long Island Traveler -Watchman Town Clerk's Bulletin Board Superintendent of Highways Dean • 0 The resolution published herewith has been adopted on the adopted on the 12th day of March, 1985, and amended on the 23rd day of April, 1985, 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 the TOWN OF SOUTHOLD, in the County of Suffolk, New York, is not authorized to expend money or if the provisions of law which should have been 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 publication of this Notice, or such obligations were authorized in violation of the provisions of the constitution. JUDITH T. TERRY Town Clerk I 1b BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED MARCH 12, 1985 AND AMENDED APRIL 23, 1985, AUTHORIZING (A) ACQUISITION OF A NEW DIESEL POWERED MOBILE ROAD SWEEPER, AND (B) TRADE-IN OF THE 1974 ROAD SWEEPER OWNED BY THE TOWN AND APPLICATION OF THE $2,000 TRADE-IN VALUE TOWARDS THE COST OF SUCH MOBILE ROAD SWEEPER FOR USE BY THE TOWN, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $85,000, APPROPRIATING SAID AMOUNT THEREFOR, AND AUTHORIZING THE ISSUANCE OF $83,000 SERIAL BONDS OF SAID TOWN TO FINANCE SAID APPROPRIATION. THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote of not less than two-thirds of all the members of said Town Board) AS FOLLOWS: Section 1. The Town of Southold, in the County of Suffolk, New York (herein called "Town"), is hereby authorized to (a) acquire by purchase a new diesel powered mobile road sweeper, and (b) trade-in the 1974 road sweeper owned by the Town and apply the $2,000 trade-in value towards the cost of such mobile road sweeper for use by the Town. The estimated maximum cost of said specific object or purpose, including preliminary costs and costs incidental thereto and the financing thereof, is $85,000 and said amount is hereby appropriated therefor. The plan of financing includes the issuance of $83,000 serial bonds of the Town to finance said appropriation, and the levy and collection of taxes on all the taxable real property in the Town to pay the principal of said bonds and the interest thereon as the same shall become due and payable. Section 2. Serial bonds of the Town in the principal amount of $83,000, are hereby authorized to be issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33- a of the Consolidated Laws of the State of New York (herein called "Law") to finance said appropriation. Section 3. The following additional matters are hereby determined and declared: (a) The period of probable usefulness of said specific object or purpose for which said $83,000 serial bonds authorized pursuant to this resolution are to be issued, within the limitations of Section 11.00 a. 32 of the Law, is five (5) years. (b) Current funds are not required by the Law to be provided as a down payment prior to the issuance of the bonds authorized by this resolution or any bond anticipation notes issued in anticipation thereof in accordance with Section 107.00 d. 5 of the Law. (c) The proposed maturity of the bonds authorized by this resolution will not exceed five (5) years. Section 4. Each of the bonds authorized by this resolution and any bond anticipation notes issued in anticipation of the sale of said bonds shall contain the recital of validity as prescribed by Section 52.00 of the Law and said bonds and any notes issued in anticipation of said bonds, shall be general obligations of the Town, payable as to both principal and interest by general tax upon all the taxable real property within the Town without limitation of rate or amount. The faith and credit of the Town are hereby irrevocably pledged to the punctual payment of the principal of and interest on said bonds and any notes issued in anticipation of the sale of said bonds and provision shall be made annually in the budget of the Town by appropriation for (a) the amortization and redemption of the bonds and any notes in anticipation thereof to mature in such year and (b) the payment of interest to be due and payable in such year. Section 5. Subject to the provisions of this resolution and of the Law and pursuant to the provisions of Section 30.00 relative to the authorization of the issuance of bond anticipation notes and of Section 50.00 and Sections 56.00 to 60.00 of the Law, the powers and duties of the Town Board relative to authorizing bond anticipation notes and prescribing the terms, form and contents and as to the sale and issuance of the bonds herein authorized and of any bond anticipation notes issued in anticipation of said bonds, and the renewals of said notes, are hereby delegated to the Supervisor, the chief fiscal officer of the Town. Section 6. The validity of the bonds authorized by this resolution and of any notes issued in anticipation of the sale of said bonds, may be contested only if: (a) such obligations are authorized for an object or purpose for which the Town is not authorized to expend money, or (b) the provisions of law which should be complied with at the date of the publication of such resolution are not substantially complied with, and an action, suit or proceeding contesting such validity, is commenced within twenty days after the date of such publication, or (c) such obligations are authorized in violation of the provisions of the constitution. Section 7. This bond resolution, as amended shall take effect immediately, and the Town Clerk of the Town, is hereby authorized and directed to publish the foregoing resolution, in full, as amended, together with a Notice attached in substantially the form prescribed by §81.00 of the Law in "THE LONG ISLAND TRAVELER-MATTITUCK WATCHMAN," a newspaper published in Southold, New York, and in "THE SUFFOLK TIMES," a newspaper published in Greenport, New York, each having a general circulation in the Town and hereby designated the official newspapers of said Town for such publication. Section B. The amendment of the bond resolution set forth in Section A of this resolution, shall in no way affect the validity of the liabilities incurred, obligations issued, or action taken pursuant to said bond resolution, and all such liabilities incurred, obligations issued, or action taken shall be deemed to have been incurred, issued or taken pursuant to said bond resolution, as so amended. Q ti • � a i' PLEASE PUBLISH THE ATTACHED NOTICE AND BOND RESOLUTION IN ITS ENTIRETY, AND FORWARD TWO (2) AFFIDAVITS OF PUBLICATION TO JUDITH T. TERRY, TOWN CLERK, TOWN HALL, MAIN ROAD, SOUTHOLD, NEW YORK 11971. Copies to the following: The Suffolk Times The Long Island Traveler -Watchman Town Clerk's Bulletin Board :Superintendent of Highways Dean 1 • NOTICE The resolution published herewith has been adopted on the adopted on the 12th day of March, 1985, and amended on the 23rd day of April, 1985, 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 the TOWN OF SOUTHOLD, in the County of Suffolk, New York, is not authorized to expend money or if the provisions of law which should have been 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 publication of this Notice, or such obligations were authorized in violation of the provisions of the constitution. JUDITH T. TERRY Town Clerk 1 r • BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED MARCH 12, 1985 AND AMENDED APRIL 23, 1985, AUTHORIZING (A) ACQUISITION OF A NEW DIESEL POWERED MOBILE ROAD SWEEPER, AND (B) TRADE-IN OF THE 1974 ROAD SWEEPER OWNED BY THE TOWN AND APPLICATION OF THE $2,000 TRADE-IN VALUE TOWARDS THE COST OF SUCH MOBILE ROAD SWEEPER FOR USE BY THE TOWN, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $85,000, APPROPRIATING SAID AMOUNT THEREFOR, AND AUTHORIZING THE ISSUANCE OF $83,000 SERIAL BONDS OF SAID TOWN TO FINANCE SAID APPROPRIATION. THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote of not less than two-thirds of all the members of said Town Board) AS FOLLOWS: Section 1. The Town of Southold, in the County of Suffolk, New York (herein called "Town"), is hereby authorized to (a) acquire by purchase a new diesel powered mobile road sweeper, and (b) trade-in the 1974 road sweeper owned by the Town and apply the $2,000 trade-in value towards the cost of such mobile road sweeper for use by the Town. The estimated maximum cost of said specific object or purpose, including preliminary costs and costs incidental thereto and the financing thereof, is $85,000 e and said amount is hereby appropriated therefor. The plan of financing includes the issuance of $83,000 serial bonds of the Town to finance said appropriation, and the levy and collection of taxes on all the taxable real property in the Town to pay the principal of said bonds and the interest thereon as the same shall become due and payable. Section 2. Serial bonds of the Town in the principal amount of $83,000, are hereby authorized to be issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33- a of the Consolidated Laws of the State of New York (herein called "Law") to finance said appropriation. Section 3. The following additional matters are hereby determined and declared: (a) The period of probable usefulness of said specific object or purpose for which said $83,000 serial bonds authorized pursuant to this resolution are to be issued, within the limitations of Section 11.00 a. 32 of the Law, is five (5) years. (b) Current funds are not required by the Law to be provided as a down payment prior to the issuance of the bonds authorized by this resolution or any bond anticipation notes issued in anticipation thereof in accordance with Section 107.00 d. 5 of the Law. (c) The proposed maturity of the bonds authorized by this resolution will not exceed five (5) years. Section 4. Each of the bonds authorized by this resolution and any bond anticipation notes issued in anticipation of the sale of said bonds shall contain the recital of validity as prescribed by Section 52.00 of the Law and said bonds and any notes issued in anticipation of said bonds, shall be general obligations of the Town, payable as to both principal and interest by general tax upon all the taxable real property within the Town without limitation of rate or amount. The faith and credit of the Town are hereby irrevocably pledged to the punctual payment of the principal of and interest on said bonds and any notes issued in anticipation of the sale of said bonds and provision shall be made annually in the budget of the Town by appropriation for (a) the amortization and redemption of the bonds and any notes in anticipation thereof to mature in such year and (b) the payment of interest to be due and payable in such year. Section 5. Subject to the provisions of this resolution and of the Law and pursuant to the provisions of Section 30.00 relative to the authorization of the issuance of bond anticipation notes and of Section 50.00 and Sections 56.00 to 60.00 of the Law, the powers and duties of the Town Board relative to authorizing bond anticipation notes and prescribing the terms, form and contents and as to the sale and issuance of the bonds herein authorized and of any bond anticipation notes issued in anticipation of said bonds, and the renewals of said notes, are hereby delegated to the Supervisor, the chief fiscal officer of the Town. Section 6. The validity of the bonds authorized by this resolution and of any notes issued in anticipation of the sale of said bonds, may be contested only if: (a) such obligations are authorized for an object or purpose for which the Town is not authorized to expend money, or (b) the provisions of law which should be complied with at the date of the publication of such resolution are not substantially complied with, and an action, suit or proceeding contesting such validity, is commenced within twenty days after the date of such publication, or (c) such obligations are authorized in violation of the provisions of the constitution. Section 7. This bond resolution, as amended shall take effect immediately, and the Town Clerk of the Town, is hereby authorized and directed to publish the foregoing resolution, in full, as amended, together with a Notice attached in substantially the form prescribed by §81.00 of the Law in "THE LONG ISLAND TRAVELER-MATTITUCK WATCHMAN," a newspaper published in Southold, New York, and in "THE SUFFOLK TIMES," a newspaper published in Greenport, New York, each having a general circulation in the Town and hereby designated the official newspapers of said Town for such publication. Section B. The amendment of the bond resolution set forth in Section A of this resolution, shall in no way affect the validity of the liabilities incurred, obligations issued, or action taken pursuant to said bond resolution, and all such liabilities incurred, obligations issued, or action taken shall be deemed to have been incurred, issued or taken pursuant to said bond resolution, as so amended. 0 ^6 PLEASE PUBLISH THE ATTACHED NOTICE AND BOND RESOLUTION IN IITS ENTIRETY, AND FORWARD TWO (2) AFFIDAVITS OF PUBLICATION TO JUDITH T. TERRY, TOWN CLERK, TOWN HALL, MAIN ROAD, SOUTHOLD, NEW YORK 11971. t Copies to the following: g. � The Suffolk Times The Long Island Traveler -Watchman f Town Clerk's Bulletin Board :Superintendent of Highways Dean t NOTICE The resolution published herewith has been adopted on the adopted on the 12th day of March, 1985, and amended on the 23rd day of April, 1985, 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 the TOWN OF SOUTHOLD, in the County of Suffolk, New York, is not authorized to expend money or if the provisions of law which should have been 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 publication of this Notice, or such obligations were authorized in violation of the provisions of the constitution. JUDITH T. TERRY Town Clerk t M i BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED MARCH 12, 1985 AND AMENDED APRIL 23, 1985, AUTHORIZING (A) ACQUISITION OF A NEW DIESEL POWERED MOBILE ROAD SWEEPER, AND (B) TRADE-IN OF THE 1974 ROAD SWEEPER OWNED BY THE TOWN AND APPLICATION OF THE $2,000 TRADE-IN VALUE TOWARDS THE COST OF SUCH MOBILE ROAD SWEEPER FOR USE BY THE TOWN, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $85,000, APPROPRIATING SAID AMOUNT THEREFOR, AND AUTHORIZING THE ISSUANCE OF $83,000 SERIAL BONDS OF SAID TOWN TO FINANCE SAID APPROPRIATION. THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote of not less than two-thirds of all the members of said Town Board) AS FOLLOWS: Section 1. The Town of Southold, in the County of Suffolk, New York (herein called "Town"), is hereby authorized to (a) acquire by purchase a new diesel powered mobile road sweeper, and (b) trade-in the 1974 road sweeper owned by the Town and apply the $2,000 trade-in value towards the cost of such mobile road sweeper for use by the Town. The estimated maximum cost of said specific object or purpose, including preliminary costs and costs incidental thereto and the financing thereof, is $85,000 and said amount is hereby appropriated therefor. The plan of financing includes the issuance of $83,000 serial bonds of the Town to finance said appropriation, and the levy and collection of taxes on all the taxable real property in the Town to pay the principal of said bonds and the interest thereon as the same shall become due and payable. Section 2. Serial bonds of the Town in the principal amount of $83,000, are hereby authorized to be issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33- a of the Consolidated Laws of the State of New York (herein called "Law") to finance said appropriation. Section 3. The following additional matters are hereby determined and declared: (a) The period of probable usefulness of said specific object or purpose for which said $83,000 serial bonds authorized pursuant to this resolution are to be issued, within the limitations of Section 11.00 a. 32 of the Law, is five (5) years. (b) Current funds are not required by the Law to be provided as a down payment prior to the issuance of the bonds authorized by this resolution or any bond anticipation notes issued in anticipation thereof in accordance with Section 107.00 d. 5 of the Law. (c) The proposed maturity of the bonds authorized by this resolution will not exceed five (5) years. Section 4. Each of the bonds authorized by this resolution and any bond anticipation notes issued in anticipation of the sale of said bonds shall contain the recital of validity as prescribed by Section 52.00 of the Law and said bonds and any notes issued in anticipation of said bonds, shall be general obligations of the Town, payable as to both principal and interest by general tax upon all the taxable real property within the Town without limitation of rate or amount. The faith and credit of the Town are hereby irrevocably pledged to the punctual payment of the principal of and interest on said bonds and any notes issued in anticipation of the sale of said bonds and provision shall be made annually in the budget of the Town by appropriation for (a) the amortization and redemption of the bonds and any notes in anticipation thereof to mature in such year and (b) the payment of interest to be due and payable in such year. Section 5. Subject to the provisions of this resolution and of the Law and pursuant to the provisions of Section 30.00 relative to the authorization of the issuance of bond anticipation notes and of Section 50.00 and Sections 56.00 to 60.00 of the Law, the powers and duties of the Town Board relative to authorizing bond anticipation notes and prescribing the terms, form and contents and as to the sale and issuance of the bonds herein authorized and of any bond anticipation notes issued in anticipation of said bonds, and the renewals of said notes, are hereby delegated to the Supervisor, the chief fiscal officer of the Town. Section 6. The validity of the bonds authorized by this resolution and of any notes issued in anticipation of the sale of said bonds, may be contested only if: (a) such obligations are authorized for an object or purpose for which the Town is not authorized to expend money, or (b) the provisions of law which should be complied with at the date of the publication of such resolution are not substantially complied with, and an action, suit or proceeding contesting such validity, is commenced within twenty days after the date of such publication, or (c) such obligations are authorized in violation of the provisions of the constitution. Section 7. This bond resolution, as amended shall take effect immediately, and the Town Clerk of the Town, is hereby authorized and directed to publish the foregoing resolution, in full, as amended, together with a Notice attached in substantially the form prescribed by §81.00 of the Law in "THE LONG ISLAND TRAVELER-MATTITUCK WATCHMAN," a newspaper published in Southold, New York, and in "THE SUFFOLK TIMES," a newspaper published in Greenport, New York, each having a general circulation in the Town and hereby designated the official newspapers of said Town for such publication. Section B. The amendment of the bond resolution set forth in Section A of this resolution, shall in no way affect the validity of the liabilities incurred, obligations issued, or action taken pursuant to said bond resolution, and all such liabilities incurred, obligations issued, or action taken shall be deemed to have been incurred, issued or taken pursuant to said bond resolution, as so amended. n EXTRACT OF MINUTES Meeting of the Town Board of the Town of Southold, in the County of Suffolk, New York April 23, 1985 A regular meeting of the Town Board of the Town of Southold, in the County of Suffolk, New York, was held at the Town Hall, Southold, New York, on April 23, 1985 at 3:00 o'clock P.M. (Prevailing Time). There were present: Honorable Francis J. Murphy, Supervisor; and Councilpersons: Joseph L. Townsend, Jr. Paul Stoutenburgh James A. Schondebare Jean W. Cochran Justice: Raymond W. Edwards There were absent: None Also present: Judith T. Terry, Town Clerk Robert W. Tasker, Town Attorney Councilman Stoutenburgh offered the following resolution and moved its adoption: RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED APRIL 23, 1985, AMENDING THE BOND RESOLUTION ADOPTED MARCH 12, 1985. Recitals WHEREAS, the Town Board of the Town of Southold, in the County of Suffolk, New York, has heretofore duly authorized (a) acquisition of a new deisel powered mobile road sweeper, and (b) trade-in of the 1974 road sweeper owned by the Town and application of the $5,000 trade-in value towards the cost of such mobile road sweeper for use by the Town, at the estimated maximum cost of $80,000, which amount was appropriated therefor pursuant to the bond resolution adopted by said Town Board on March 12, 1985; WHEREAS, it has now been determined that the estimated maximum cost of the road sweeper has increased to $85,000, being an increase of $5,000 and the trade-in value of the road sweeper owned by the Town is $2,000 which sum is $3,000 less than the $5,000 value heretofore previously estimated and expected to be available toward said cost and appropriated therefor; and heretofore appropriated therefor; and WHEREAS, in order to finance the balance of the cost of said acquisition, it is necessary to increase the amount of serial bonds to $83,000, an increase of $8,000, and to amend said bond resolution; now, therefore, be it RESOLVED BY THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK (by the favorable vote of not less than two-thirds of all members of said Town Board) AS FOLLOWS: Section A. The bond resolution of said Town duly adopted by the Town Board on March 12, 1985, entitled: "Bond Resolution of the Town of Southold, New York, adopted March 12, 1985, authorizing the (a) acquisition of a new diesel powered mobile road sweeper and (b) trade-in of the 1974 road sweeper owned by the Town and application of the $5,000 trade-in value towards the cost of such mobile road sweeper for use by the Town, stating the estimated maximum cost thereof, including said trade-in value, is $80,000, appropriating said amount therefor, less trade-in value, and authorizing the issuance of $75,000 serial bonds of said Town to finance the balance of said appropriation after deducting said trade-in value," is hereby amended to read as follows: BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED MARCH 12, 1985 AND AMENDED APRIL 23, 1985, AUTHORIZING (A) ACQUISITION OF A NEW DIESEL POWERED MOBILE ROAD SWEEPER, AND (B) TRADE-IN OF THE 1974 ROAD SWEEPER OWNED BY THE TOWN AND APPLICATION OF THE $2,000 TRADE-IN VALUE TOWARDS THE COST OF SUCH MOBILE ROAD SWEEPER FOR USE BY THE TOWN, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $85,000, APPROPRIATING SAID AMOUNT THEREFOR, AND AUTHORIZING THE ISSUANCE OF $83,000 SERIAL BONDS OF SAID TOWN TO FINANCE SAID APPROPRIATION. THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote of not less than two-thirds of all the members of said Town Board) AS FOLLOWS: Section 1. The Town of Southold, in the County of Suffolk, New York (herein called "Town"), is hereby authorized to (a) acquire by purchase a new diesel powered mobile road sweeper, and (b) trade-in the 1974 road sweeper owned by the Town and apply the $2,000 trade-in value towards the cost of such mobile road sweeper for use by the Town. The estimated maximum cost of said specific object or purpose, including preliminary costs and costs incidental thereto and the financing thereof, is $85,000 • and said amount is hereby appropriated therefor. The plan of financing includes the issuance of $83,000 serial bonds of the Town to finance said appropriation, and the levy and collection of taxes on all the taxable real property in the Town to pay the principal of said bonds and the interest thereon as the same shall become due and payable. Section 2. Serial bonds of the Town in the principal amount of $83,000, are hereby authorized to be issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33- a of the Consolidated Laws of the State of New York (herein called "Law") to finance said appropriation. Section 3. The following additional matters are hereby determined and declared: (a) The period of probable usefulness of said specific object or purpose for which said $83,000 serial bonds authorized pursuant to this resolution are to be issued, within the limitations of Section 11.00 a. 32 of the Law, is five (5) years. (b) Current funds are not required by the Law to be provided as a down payment prior to the issuance of the bonds authorized by this resolution or any bond anticipation notes issued in anticipation thereof in accordance with Section 107.00 d. 5 of the Law. (c) The proposed maturity of the bonds authorized by this resolution will not exceed five (5) years. Section 4. Each of the bonds authorized by this resolution and any bond anticipation notes issued in anticipation of the sale of said bonds shall contain the recital of validity as prescribed by Section 52.00 of the Law and said bonds and any notes issued in anticipation of said bonds, shall be general obligations of the Town, payable as to both principal and interest by general tax upon all the taxable real property within the Town without limitation of rate or amount. The faith and credit of the Town are hereby irrevocably pledged to the punctual payment of the principal of and interest on said bonds and any notes issued in anticipation of the sale of said bonds and provision shall be made annually in the budget of the Town by appropriation for (a) the amortization and redemption of the bonds and any notes in anticipation thereof to mature in such year and (b) the payment of interest to be due and payable in such year. Section 5. Subject to the provisions of this resolution and of the Law and pursuant to the provisions of Section 30.00 relative to the authorization of the issuance of bond anticipation notes and of Section 50.00 and Sections 56.00 to 60.00 of the Law, the powers and duties of the Town Board relative to authorizing bond anticipation notes and prescribing the terms, form and contents and as to the sale and issuance of the bonds herein authorized and of any bond anticipation notes issued in anticipation of said bonds, and the renewals of said notes, are hereby delegated to the Supervisor, the chief fiscal officer of the Town. Section 6. The validity of the bonds authorized by this resolution and of any notes issued in anticipation of the sale of said bonds, may be contested only if: (a) such obligations are authorized for an object or purpose for which the Town is not authorized to expend money, or (b) the provisions of law which should be complied with at the date of the publication of such resolution 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, r•I: (c) such obligations are authorized in violation of the provisions of the constitution. Section 7. This bond resolution, as amended shall take effect immediately, and the Town Clerk of the Town, is hereby authorized and directed to publish the foregoing resolution, in full, as amended, together with a Notice attached in substantially the form prescribed by §81.00 of the Law in "THE LONG ISLAND TRAVELER-MATTITUCK WATCHMAN," a newspaper published in Southold, New York, and in "THE SUFFOLK TIMES," a newspaper published in Greenport, New York, each having a general circulation in the Town and hereby designated the official newspapers of said Town for such publication. Section B. The amendment of the bond resolution set forth in Section A of this resolution, shall in no way affect the validity of the liabilities incurred, obligations issued, or action taken pursuant to said bond resolution, and all such liabilities incurred, obligations issued, or action taken shall be deemed to have been incurred, issued or taken pursuant to said bond resolution, as so amended. The adoption of the foregoing resolution was seconded by Supervisor Murphy and duly put to a vote on roll call, which resulted as follows: AYES: Supervisor Murphy, Councilman Townsend, Justice Edwards, Councilman Stoutenburgh, Councilman Schondebare, Councilwoman Cochran. NOES: None. The resolution was declared adopted. General - No Veto CERTIFICATE I, JUDITH T. TERRY, Town Clerk of the Town of Southold, in the County of Suffolk, State of New York, HEREBY CERTIFY that the foregoing annexed extract from the minutes of a meeting of the Town Board of said Town of Southold duly called and held on April 23, 1985, has been compared by me with the original minutes as officially recorded in my office in the Minute Book of said Town Board and is a true, complete and correct copy thereof and of the whole of said original minutes so far as the same relate to the subject matters referred to in said extract. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of said Town of Southold this 23rd day of April, 1985. Town Clerk (SEAL) th S' l _ a • EXTRACT OF MINUTES Meeting of the Town Board of the Town of Southold, in the County of Suffolk, New York April 23, 1985 * * * A regular meeting of the Town Board of the Town of Southold, in the County of Suffolk, New York, was held at the Town Hall, Southold, New York, on April 23, 1985 at 3:00 o'clock P.M. (Prevailing Time). There were present: Honorable Francis J. Murphy, Supervisor; and Councilpersons: Joseph L. Townsend, Jr. Paul Stoutenburgh James A. Schondebare Jean W. Cochran Justice: Raymond W. Edwards There were absent: None Also present: Judith T. Terry, Town Clerk Robert W. Tasker, Town Attorney Councilman Stoutenburgh offered the following resolution and moved its adoption: RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED APRIL 23, 1985, AMENDING THE BOND RESOLUTION ADOPTED MARCH 12, 1985. WHEREAS, the Town Board of the Town of Southold, in the County of Suffolk, New York, has heretofore duly authorized (a) acquisition of a new deisel powered mobile road sweeper, and (b) trade-in of the 1974 road sweeper owned by the Town and application of the $5,000 trade-in value towards the cost of such mobile road sweeper for use by the Town, at the estimated maximum cost of $80,000, which amount was appropriated therefor pursuant to the bond resolution adopted by said Town Board on March 12, 1985; WHEREAS, it has now been determined that the estimated maximum cost of the road sweeper has increased to $85,000, being an increase of $5,000 and the trade-in value of the road sweeper owned by the Town is $2,000 which sum is $3,000 less than the $5,000 value heretofore previously estimated and expected to be available toward said cost and appropriated therefor; and heretofore appropriated therefor; and WHEREAS, in order to finance the balance of the cost of said acquisition, it is necessary to increase the amount of serial bonds to $83,000, an increase of $8,000, and to amend said bond resolution; • 0 now, therefore, be it RESOLVED BY THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK (by the favorable vote of not less than two-thirds of all members of said Town Board) AS FOLLOWS: Section A. The bond resolution of said Town duly adopted by the Town Board on March 12, 1985, entitled: "Bond Resolution of the Town of Southold, New York, adopted March 12, 1985, authorizing the (a) acquisition of a new diesel powered mobile road sweeper and (b) trade-in of the 1974 road sweeper owned by the Town and application of the $5,000 trade-in value towards the cost of such mobile road sweeper for use by the Town, stating the estimated maximum cost thereof, including said trade-in value, is $80,000, appropriating said amount therefor, less trade-in value, and authorizing the issuance of $75,000 serial bonds of said Town to finance the balance of said appropriation after deducting said trade-in value," is hereby amended to read as follows: BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED MARCH 12, 1985 AND AMENDED APRIL 23, 1985, AUTHORIZING (A) ACQUISITION OF A NEW DIESEL POWERED MOBILE ROAD SWEEPER, AND (B) TRADE-IN OF THE 1974 ROAD SWEEPER OWNED BY THE TOWN AND APPLICATION OF THE $2,000 TRADE-IN VALUE TOWARDS THE COST OF SUCH MOBILE ROAD SWEEPER FOR USE BY THE TOWN, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $85,000, APPROPRIATING SAID AMOUNT THEREFOR, AND AUTHORIZING THE ISSUANCE OF $83,000 SERIAL BONDS OF SAID TOWN TO FINANCE SAID APPROPRIATION. THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote of not less than two-thirds of all the members of said Town Board) AS FOLLOWS: Section 1. The Town of Southold, in the County of Suffolk, New York (herein called "Town"), is hereby authorized to (a) acquire by purchase a new diesel powered mobile road sweeper, and (b) trade-in the 1974 road sweeper owned by the Town and apply the $2,000 trade-in value towards the cost of such mobile road sweeper for use by the Town. The estimated maximum cost of said specific object or purpose, including preliminary costs and costs incidental thereto and the financing thereof, is $85,000 • and said amount is hereby appropriated therefor. The plan of financing includes the issuance of $83,000 serial bonds of the Town to finance said appropriation, and the levy and collection of taxes on all the taxable real property in the Town to pay the principal of said bonds and the interest thereon as the same shall become due and payable. Section 2. Serial bonds of the Town in the principal amount of $83,000, are hereby authorized to be issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33- a of the Consolidated Laws of the State of New York (herein called "Law") to finance said appropriation. Section 3. The following additional matters are hereby determined and declared: (a) The period of probable usefulness of said specific object or purpose for which said $83,000 serial bonds authorized pursuant to this resolution are to be issued, within the limitations of Section 11.00 a. 32 of the Law, is five (5) years. (b) Current funds are not required by the Law to be provided as a down payment prior to the issuance of the bonds authorized by this resolution or any bond anticipation notes issued in anticipation thereof in accordance with Section 107.00 d. 5 of the Law. (c) The proposed maturity of the bonds authorized by this resolution will not exceed five (5) years. Section 4. Each of the bonds authorized by this resolution and any bond anticipation notes issued in anticipation of the sale of said bonds shall contain the recital of validity r t • as prescribed by Section 52.00 of the Law and said bonds and any notes issued in anticipation of said bonds, shall be general obligations of the Town, payable as to both principal and interest by general tax upon all the taxable real property within the Town without limitation of rate or amount. The faith and credit of the Town are hereby irrevocably pledged to the punctual payment of the principal of and interest on said bonds and any notes issued in anticipation of the sale of said bonds and provision shall be made annually in the budget of the Town by appropriation for (a) the amortization and redemption of the bonds and any notes in anticipation thereof to mature in such year and (b) the payment of interest to be due and payable in such year. Section S. Subject to the provisions of this resolution and of the Law and pursuant to the provisions of Section 30.00 relative to the authorization of the issuance of bond anticipation notes and of Section 50.00 and Sections 56.00 to 60.00 of the Law, the powers and duties of the Town Board relative to authorizing bond anticipation notes and prescribing the terms, form and contents and as to the sale and issuance of the bonds herein authorized and of any bond anticipation notes issued in anticipation of said bonds, and the renewals of said notes, are hereby delegated to the Supervisor, the chief fiscal officer of the Town. Section 6. The validity of the bonds authorized by this resolution and of any notes issued in anticipation of the sale of said bonds, may be contested only if: 0 0 (a) such obligations are authorized for an object or purpose for which the Town is not authorized to expend money, or (b) the provisions of law which should be complied with at the date of the publication of such resolution are not substantially complied with, and an action, suit or proceeding contesting such validity, is commenced within twenty days after the date of such publication, or (c) such obligations are authorized in violation of the provisions of the constitution. Section 7. This bond resolution, as amended shall take effect immediately, and the Town Clerk of the Town, is hereby authorized and directed to publish the foregoing resolution, in full, as amended, together with a Notice attached in substantially the form prescribed by §81.00 of the Law in "THE LONG ISLAND TRAVELER-MATTITUCK WATCHMAN," a newspaper published in Southold, New York, and in "THE SUFFOLK TIMES," a newspaper published in Greenport, New York, each having a general circulation in the Town and hereby designated the official newspapers of said Town for such publication. Section B. The amendment of the bond resolution set forth in Section A of this resolution, shall in no way affect the validity of the liabilities incurred, obligations issued, or action taken pursuant to said bond resolution, and all such liabilities incurred, obligations issued, or action taken shall be deemed to have been incurred, issued or taken pursuant to said bond resolution, as so amended. y The adoption of the foregoing resolution was seconded by Supervisor Murphy and duly put to a vote on roll call, which resulted as follows: AYES: Supervisor Murphy, Councilman Townsend, Justice Edwards, Councilman Stoutenburgh, Councilman Schondebare, Councilwoman Cochran. NOES: None. The resolution was declared adopted. 0 • General - No Veto CERTIFICATE I, JUDITH T. TERRY, Town Clerk of the Town of Southold, in the County of Suffolk, State of New York, HEREBY CERTIFY that the foregoing annexed extract from the minutes of a meeting of the Town Board of said Town of Southold duly called and held on April 23, 1985, has been compared by me with the original minutes as officially recorded in my office in the Minute Book of said Town Board and is a true, complete and correct copy thereof and of the whole of said original minutes so far as the same relate to the subject matters referred to in said extract. (SEAL) IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of said Town of Southold this 23rd day of April, 1985. Town Clerk /-p/. - 900 ,�-Ia IVB: alle " /Y/""� .� 0 - 0, " ,, -0, 4. 4, 4WIW (212) 820-9493 April 18, 1985 Town of Southold, New York $83,000 Serial Bonds Our File No. 729/22 Robert W. Tasker, Esq. Office of the Supervisor Town of Southold Main Road Southold, New York 11971 Dear Mr. Tasker: Pursuant to your request, I have had prepared and now send you draft Extract of Minutes of a Town Board meeting to be held on April 23, 1985, showing adoption of the above bond resolution amending the bond resolution adopted on March 12, 1985, and providing for publication, in full. Please note that the amending bond resolution is to be adopted by at least a two-thirds vote of the entire Town Board membership. An extra copy of the bond resolution with the prescribed form of Clerk's statutory notice affixed in readiness for publication, in full, in each of the official Town newspapers is also enclosed. You will recall that publication of the bond resolution, in full, commences a 20 day statute of limitations pursuant to the provisions of Section 80.00 et seq of the Local Finance Law. 0 0 Please obtain and forward to me a certified copy of the Extract of Minutes and original Affidavits of Publication. With best regards, I am Yours sincerely, 9 omlv'� . James J. Maguire, Jr. JJM,Jr. :mb Enclosures OFFI ROBERT W.TASKER Town Attorney • RNEY 425 MAIN ST. GREENPORT, L.I., NEW YORK 11944 TOM Cha Sou"Mm Hon. Judith T. Terry Town Clerk Town of Southold Main Road Southold, New York 11971 April 15, 1985 Re: Bond Resolution for purchase of street sweeper Dear Judy: TELEPHONE (516) 477-1400 This is to advise you that I have instructed the Town's Bond Counsel to prepare an amended bond resolution relative to the above matter. As you know, the original bond resolution provided for a maximum total cost of $80,000.00; a trade-in of a used street sweeper with a value of $5,000.00; and the issuance of bonds or notes in the amount of $75,000.00. The amended bond resolution will provide for a maximum total cost of $85,000.00; a trade-in allowance of $2,000.00; and the sum of $83,000.00 by the issuance of bonds or notes. The amended bond resolution will be sent to me in time for placing it on the Town Board agenda for its meeting to be held on April 23, 1985. If it is the intention to save time, I would suggest that new bids be sought as soon as possible so that a bid may be accepted as soon after the bond resolution as determined necessary. Yours very truly, ROBERT W. TASKER RWT :aa NOTICE The resolution published herewith has been adopted on the 12th day of March, 1985, and the validity of the obligations au- thorized by such resolution may be hereafter contested only if such obligations were authorized for an object or purpose for which the TOWN OF SOUTHOLD, in the County of Suffolk, New York, is not authorized to expend money or if the provisions of law which should have been complied with as of the date of publication of this Notice were not substan- tially complied with, and an ac- tion, suit or proceeding contest- ing such validity is commenced within twenty days after the pub- lication of this Notice, or such ob- ligations were authorized in vio- lation of the provisions of the con- stitution. JUDITH T. TERRY Town Clerk BOND RESOLUTION OF THE TOWN OF SOUTHOLD: NEW YORK, ADOPTED MARCH 12, 1985, AUTHOR- IZING THE (A) ACQUISI- TION OF A NEW DIESEL POWERED MOBILE ROAD SWEEPER, AND (B) TRADE- IN OF THE 1974 ROAD SWEEPER OWNED BY THE TOWN AND APPLICATION OF THE $5,000 TRADE-IN VALUE TOWADS THE COST OF SUCH MOBILE ROAD SWEEPER FOR USE BY THE TOWN, STATING THE ES- TIMATED MAXIMUM COST THEREOF, INCLUDING SAID TRADE-IN VALUE, IS $80,000, APPROPRIATING SAID AMOUNT THEREFOR, LESS TRADE-IN VALUE, AND AUTHORIZING THE ISSUANCE OF $75,000 SERIAL BONDS OF SAID TOWN TO FINANCE THE BALANCE OF SAID Ap- PROPRIATION AFTER DE- DUCING SAID TRADE-IN VALUE. THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, HEREBY RE- SOLVES (by the favorable vote of not less than two-thirds of all the members of said Town Board) AS FOLLOWS: Section 1. The Town of South- old, in the County of Suffolk, New York (herein called "Town"), is hereby- authorized to (A) acquire by purchase a new diesel powered mobile road sweeper, and (B) trade-in the 1974 road sweeper owned by the Town and apply the $5,000 trade- in value towards the cost of such mobile road sweeper for use by the Town. The estimated maximum cost of said specific ob- ject or purpose, including trade- in value, preliminary costs and costs incidental thereto and the financing thereof, is $80,000 and said amount, less said trade-in value, is hereby appropriated therefor. The plan of financing includes the issuance of $75,000 serial bonds of the Town to fi- nance the balance of said approp- riation, less said trade-in value, and the levy and collection of taxes on all the taxable real prop- erty in the Town to pay the prin- cipal of said bonds and the in- terest thereon as the same shall become due and payable. Section 2. Serial bonds of the Town in the principal amountof $75,000, are hereby authorized to be issued pursuant to the pro- visions ofthe Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York (herein called "Law") to finance the balance of said appropriation after deduct- ing said trade-in value. Section 3. The following addi- tional matters are hereby deter- mined and declared: (a) The period of probable use- fulness of said specific object or purpose for which said $75,000 serial bonds authorized pursuant to this resolution are to be issued, within the limitations of Section 11.00 a. 32 of the Law, is five (5) years. (b) Current funds are not re- quired by the Law to be provided as a down payment prior to the issuance of the bonds authorized by this resolution or any bond anticipation notes issued in anti- cipation thereof in accordance with Section 107.00 d. 5 of the Law. (c) The proposed maturity of the bonds authorized by this re- solution will not exceed five (5) years. Section 4. Each of the bonds authorized by this resolution and any bond anticipation notes is- sued in anticipation of the sale of said bonds shall contain the recital of validity as prescribed by Section 52.00 of the Law and said bonds and any notes issued in anticipation of said bonds, shall be general obligations of the Town, payable as to both principal and interest by general tax upon all the taxable real property within the Town with- out limitation of rate or amount. The faith and credit of the Town are hereby irrevocably pledged to the punctual payment of the principal of and interest on said bonds and any notes issued in anticipation of the sale of said bonds and provision shall be made annually in the budget of the Town by appropriation for (a) the amortization and redemption of the bonds and any notes in anticipation thereof to mature in such year and (b) the payment of interest to be due and payable in such year. Section 5. Subject to the provi- sions of this resolution and of the Law and pursuant to the provi- sions of Section 30.00 relative to the authorization of the issuance of bond anticipation notes and of Section 50.00 and Sections 56.00 to 60.00 of the Law, the powers and duties of the Town Board re- lative to authorizing bond antici- pation notes and prescribing the terms, form and contents and as to the sale and issuance of the bonds herein authorized and of any bond anticipation notes is- sued in ant3cipaat4on,. of. said. bonds, and the renewals of said notes, are hereby delegated to the Supervisor, the chief fiscal of- ficer of the Town. Section 6. The validity of the bonds authorized by this resolu- tion and of any notes issued in anticipation of the sale of said bonds, may be contested only if: (a) such obligations are au- thorized for an object or purpose for which the Town is not authorized to expend money, or (b) the provisions of law which should be complied with at the date of the publication of such resolution 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 (c) such obligations are au- thorized in violation of the provisions of the constitu- tion. Section 7. This bond resolution shall take effect immediately, and the Town Clerk of the Town, is hereby authorized and directed to publish the foregoing resolu- tion, in full, together with a Notice attached in substantially the form prescribed by §81.00 of the Law in "THE LONG IS- LAND TRAVELER-MAT- TITUCK WATCHMAN," a newspaper published in South- old, New York, and in "THE SUFFOLK TIMES," a news- paper published in Greenport, New York, each having a general circulation in the Town and hereby designated the official newspapers of said Town for such publication. lTM21-4829 RK ! ! SS: )LK ! of Greenport, in duly sworn, says that he/she is HE SUFFOLK TIMES, a Weekly ied at Greenport, in the Town y of Suffolk and State of New gotice of which the annexed is s been regularly published in ,nce each week for eiqE— commencing on the 2- 1985_ Principal Clerk this 2t 19�- ANN M. ABATE NOOTTAARY PUBLIC, State of New York Suffolk ! .,urty No. 4748183 Term Expires March 30, 19�J STATE OF NEW YORK ) ) SS: COUNTY OF SUFFOLK ► ANNA—LEKKAS of Greenport, in said County, being duly sworn, says that he/she is Principal Clerk of THE SUFFOLK TIMES, a Weekly Newspaper, published at Greenport, in the Town of Southold, County of Suffolk and State of New York, and that the Notice of which the annexed is a printed copy, has been regularly published in said Newspaper once each week for ejjL;- weeks successively, commencing on the 2_ day ofvjARCH 1SR5_ Principal Clerk Sworn to before me this 2— d of �,,q � � %$ Ry ANN M. ABATE RY PUBIR, State of New York Suffolkunty No. 3 Term Expir30,19- res March 30, 19.,.8'O NOTICE The resolution published herewith has been adopted on the 12th day of March, 1985, and the validity of the obliga- dons authorized by such reso- lution may be hereafter con= tested only if such obligations were authorized for an object or purpose for which the TOWN OF SOUTHOLD, in the County of Suffolk, New York, is not authorized to expend money or if the provisions of law which should have been complied with as of the date of pdblicaton of this Notice were not substantially complied with, and an action, suit or proceeding contesting such validity is commenced within twenty days after the publica- tion of this Notice, or such obligations were authorized in violation of the provisions of the constitution. JUDITH T. TERRY Town clerk BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED MARCH 12, 1985, AUTHOR- IZING THE (A) ACQUISITION OF A NEW DIESEL POWER- ED MOBILE ROAD SWEEP- ER, AND (B) TRADE-IN OF THE 1974 ROAD SWEEPER OWNED BY THE TOWN AND APPLICATION OF THE $5,000 TRADE-IN VALUE TO- WARDS THE COST OF SUCH MOBILE ROAD SWEEPER FOR USE BY THE TOWN, STATING THE ESTIMATED MAXIMUM COST THEREOF, INCLUDING SAID TRADE- IN VALUE, IS $80,000, APPRO- PRIATING PPROPRIATING SAID AMOUNT THEREFOR, LESS TRADE-IN VALUE, AND AUTHORIZING THE ISSUANCE OF $75,000 SERIAL BONDS OF SAID TOWN TO FINANCE THE BALANCE OF SAID APPRO- PRIATION AFTER DEDUCT- ING SAID TRADE-IN VALUE. THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUF- FOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote of not less than two- thirdr of all the members of said Town Board) AS FOL- LOWS: Section 1. The Town of Southold, in the County of Suffolk, New York (herein called "Town"), is hereby authorized to (A) acquire by purchase a new diesel power- ed mobile road sweeper, and (b) trade-in the 1974 road sweeper owned by the Town and apply the $5,000 trade-in value towards the cost of such mobile road sweeper for use by the Town. The estimated maximum .cost of said specific object or purpose, including trade-in value, preliminary costs and costs incidental thereto and the financing thereof, is $80,000 and said amount, less said trade-in value, is hereby appropriated therefor. The plan of financ- ing includes the issuance of $75,000 serial bonds of the Town to finance the balance of said appropriation, less said trade-in value, and the levy and collection of taxes on all the taxable real property in the Town to pay the principal of said bonds and the interest thereon as the same shall become due and payable. Section 2. Serial bonds of the Town in the principal amount of $75,000, are hereby authorized to be issued pur- suant to the provisions of the Local Finance Law, constitut- ing Chapter 33-a of the Consolidated Laws of the State of New York (herein called "Law") to finance the balance of said appropriation after deducting said trade-in value. Secton 3. The following additional matters are hereby determined and declared: (a) The period of probable usefulness of said specific object or purpose for which said $75,000 serial bonds authorized pursuant to this resolution are to be issued, `ai$o gJ!Ai lqZ `Plo iMO,L Imol to aq OMS uc aMS [o.M Quo anb pa 1QO )id 43 COUNTY OF SUFFOLK STATE OF NEW YORK ss: Patricia .Wood, being duly sworn, says that she is the Editor, of THE LONG ISLAND TRAVELER -WATCHMAN, a public newspaper printed at Southold, in Suffolk County; and that the notice of which the annexed is a printed copy, has been published in said Long Island Traveler -Watchman once each week for ................... ....... weeks successively, commencing on the ...........%.......... . day of ......, 19 - g ..:............... Sworn to before me this ..................... day of .% .... .......... 19 ..... ................................................ Notary Public BARBARA FOR.BES Notary Public, State of New York No. 4$56£,6 Qualified in Suffolk County Commission Expires March 30, 19 4'„ within the limitations of Sec- tion 11.00 a. 32 of the Law, is five (5)- years. . _ (b) Current funds are not required by the Law to be provided as a down payment prior to the issuance of the bonds authorized by this reso- lution or any bond anticipation notes issued in anticipation thereof in accordance with Section 107.00 d. 5 of the Law. (c) The proposed maturity of the bonds authorized by this resolution will not exceed five (5) years. Section 4. Each of the bonds authorized by this resolution and any bond anticipation notes issued in anticipation of the sale of said bonds shall contain the recital of validity as prescribed by Section 52.00 of the Law and said bonds and any notes issued in anticipa- tion of said bonds, shall be general obligations of the Town, payable as to both ' principal and interest by gen- eral tax upon all the taxable real property within the Town 1 without limitation of rate or 3 amount. The faith and credit of - the Town are hereby irrevo- cably pledged to the punctual payment of the principal of and interest on said bonds and any notes issued in anticipa- tion of the sale of said bonds and provision shall be made annually in the budget of the Town by appropriation for (a) the amortization and redemp- tion of the bonds and any notes G in anticipation thereof to ma- ture in such year and (b) the payment of interest to be due i1 and payable in such year. Section 5. Subject to the provisions of this resolution and of the Law and pursuant to the provisions of Section 30.00 relative to the authorization of the issuance of bond anticipa- tion notes and of Section 50.00 and Sections 56.00 to 60.00 of the Law, the powers and duties of the Town Board relative to authorizing bond anticipation notes and pre- scribing the terms, form and contents and as to the sale and issuance of the bonds herein authorized and of any bor_d anticipation notes issued in anticipation of said bonds, and the renewals of said notes, are hereby delegated to the Super- visor, the chief fiscal officer of the Town. Section 6. The validity of the bonds authorized by this reso- lution and of any notes issued in anticipation of the sale of said bonds, may be contested only if: (a) such obligations are authorized for an object or purpose for which the Town is not authorized to expend mon- ey, or (b) the provisions of law which should be complied with at the date of the publications of such resolution are not sub- stantially complied with, and an action, suit or proceed- ing contesting such validity, is commenced within twenty - days after the date of such publication, or (c) such obligations are authorized in violation of the provisions of the constitution. Section 7. This bond resolu- tion shall take effect immed- iately, and the Town Clerk of the Town, is hereby authorized and directed to publish the foregoing resolution, in full, together with a Notice attach- ed in substantially the form prescribed by §81.00 of the Law in "The Long Island Traveler-Mattituck Watch- man," a newspaper published in Southold, New York, and in "The Suffolk Times," a news- paper published in Greenport, New York, each having a general circulation in the Town and hereby designated the official newspapers of said Town for such publication. 1T-3/21/85(9) COUNTY OF SUFFOLK ss: STATE OF NEW YORK Patricia .Wood, being duly sworn, says that she is the Editor, of THE LONG ISLAND TRAVELER -WATCHMAN, a public newspaper printed at Southold, in Suffolk County; and that the notice of which the annexed is a printed copy, has been published in said Long Island Traveler -Watchman once each week for .................. /....... weeks successively, commencing on the ......... ... day of . ' ... ....... 19 .� Sworn to before me this ............�......... day of 4'�� .. . `''C` ............ . .... Notary Public BARBARA FORBES Notary Public, State of New York No. 4806846 Qualified in Suffolk County Commission Expires March 30, 19 r4 PLEASE PUBLISH THE ATTACHED NOTICE AND BOND RESOLUTION IN ITS ENTIRETY, AND FORWARD TWO (2) AFFIDAVITS OF PUBLICATION TO JUDITH T. TERRY, TOWN CLERK, TOWN HALL, MAIN ROAD, SOUTHOLD, NEW YORK 11971. Copies to the following: The Suffolk Times The Long Island Traveler -Watchman Town Clerk's Bulletin Board Town Board Members Superintendent of Highways Dean NOTICE The resolution published herewith has been adopted on the 12th day of March, 1985, 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 the TOWN OF SOUTHOLD, in the County of Suffolk, New York, is not authorized to expend money or if the provisions of law which should have been 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 publication of this Notice, or such obligations were authorized in violation of the provisions of the constitution. JUDITH T. TERRY Town Clerk BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED MARCH 12, 1985, AUTHORIZING THE (A) ACQUISITION OF A NEW DIESEL POWERED MOBILE ROAD SWEEPER, AND (B) TRADE-IN OF THE 1974 ROAD SWEEPER OWNED BY THE TOWN AND APPLICATION OF THE $5,000 TRADE-IN VALUE TOWARDS THE COST OF SUCH MOBILE ROAD SWEEPER FOR USE BY THE TOWN, STATING THE ESTIMATED MAXIMUM COST THEREOF, INCLUDING SAID TRADE-IN VALUE, IS $80,000, APPROPRIATING SAID AMOUNT THEREFOR, LESS TRADE-IN VALUE, AND AUTHORIZING THE ISSUANCE OF $75,000 SERIAL BONDS OF SAID TOWN TO FINANCE THE BALANCE OF SAID APPROPRIATION AFTER DEDUCTING SAID TRADE-IN VALUE. THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote of not less than two-thirds of all the members of said Town Board) AS FOLLOWS: Section 1. The Town of Southold, in the County of Suffolk, New York (herein called "Town"), is hereby authorized to (A) acquire by purchase a new diesel powered mobile road sweeper, and (b) trade-in the 1974 road sweeper owned by the Town and apply the $5,000 trade-in value towards the cost of such mobile road sweeper for use by the Town. The estimated maximum cost of said specific object or purpose, including trade-in value, E preliminary costs and costs incidental thereto and the financing thereof, is $80,000 and said amount, less said trade-in value, is hereby appropriated therefor. The plan of financing includes the issuance of $75,000 serial bonds of the Town to finance the balance of said appropriation, less said trade-in value, and the levy and collection of taxes on all the taxable real property in the Town to pay the principal of said bonds and the interest thereon as the same shall become due and payable. Section 2. Serial bonds of the Town in the principal amount of $75,000, are hereby authorized to be issued pursuant to the provisions of the Local Finance Law, constituting'Chapter 33- a of the Consolidated Laws of the State of New York (herein called "Law") to finance the balance of said appropriation after deducting said trade-in value. Section 3. The following additional matters are hereby determined and declared: (a) The period of probable usefulness of said specific object or purpose for which said $75,000 serial bonds authorized pursuant to this resolution are to be issued, within the limitations of Section 11.00 a. 32 of the Law, is five (5) years. (b) Current funds are not required by the Law to be provided as a down payment prior to the issuance of the bonds authorized by this resolution or any bond anticipation notes issued in anticipation thereof in accordance with Section 107.00 d. 5 of the Law. (c) The proposed maturity of the bonds authorized by this resolution will not exceed five (5) years. 0 Section 4. Each of the bonds authorized by this resolution and any bond anticipation notes issued in anticipation of the sale of said bonds shall contain the recital of validity as prescribed by Section 52.00 of the Law and said bonds and any notes issued in anticipation of said bonds, shall be general obligations of the Town, payable as to both principal and interest by general tax upon all the taxable real property within the Town without limitation of rate or amount. The faith and credit of the Town are hereby irrevocably pledged to the punctual payment of the principal of and interest on said bonds and any notes issued in anticipation of the sale of said bonds and provision shall be made annually in the budget of the Town by appropriation for (a) the amortization and redemption of the bonds and any notes in anticipation thereof to mature in such year and (b) the payment of interest to be due and payable in such year. Section 5. Subject to the provisions of this resolution and of the Law and pursuant to the provisions of Section 30.00 relative to the authorization of the issuance of bond anticipation notes and of Section 50.00 and Sections 56.00 to 60.00 of the Law, the powers and duties of the Town Board relative to authorizing bond anticipation notes and prescribing the terms, form and contents and as to the sale and issuance of the bonds herein authorized and of any bond anticipation notes issued in anticipation of said bonds, and the renewals of said notes, are hereby delegated to the Supervisor, the chief fiscal officer of the Town. Section 6. The validity of the bonds authorized by this resolution and of any notes issued in anticipation of the sale of said bonds, may be contested only if: (a) such obligations are authorized for an object or purpose for which the Town is not authorized to expend money, or (b) the provisions of law which should be complied with at the date of the publication of such resolution are not substantially complied with, and an action, suit or proceeding contesting such validity, is commenced within twenty days after the date of such publication, or (c) such obligations are authorized in violation of the provisions of the constitution. Section 7. This bond resolution shall take effect immediately, and the Town Clerk of the Town, is hereby authorized and directed to publish the foregoing resolution, in full, together with a Notice attached in substantially the form prescribed by §81.00 of the Law in "THE LONG ISLAND TRAVELER- MATTITUCK WATCHMAN," a newspaper published in Southold, New York, and in "THE SUFFOLK TIMES," a newspaper published in Greenport, New York, each having a general circulation in the Town and hereby designated the official newspapers of said Town for such publication. i PLEASE PUBLISH THE ATTACHED NOTICE AND BOND RESOLUTION IN ITS ENTIRETY, AND FORWARD TWO (2) AFFIDAVI"T"S OF PUBLICATION TO JUDITH T. TERRY, TOWN CLERK, TOWN HALL, MAIN ROAD, SOUTHOLD, NEW YORK 11971. r Copies to the following: The Suffolk Times The Long Island Traveler -Watchman Town Clerk's Bulletin Board Town Board Members Superintendent of Highways Dean NOTICE The resolution published herewith has been adopted on the 12th day of March, 1985, 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 the TOWN OF SOUTHOLD, in the County of Suffolk, New York, is not authorized to expend money or if the provisions of law which should have been complied with as of the date of publication of this Notice were riot substantially complied with, and an action, suit or proceeding contesting such validity is commenced within twenty days after the publication of this Notice, or such obligations were authorized in violation of the provisions of the constitution. JUDITH T. TERRY Town Clerk BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED 14ARCH 12, 1.985, AUTHORIZING THE (A) ACQUISITION OF A NEW DIESEL POWERED MOBILE ROAD SWEEPER, AND (B) TRADE-IN OF THE 1974 ROAD SWEEPER OWNED BY THE TOWN AND APPLICATION OF THE $5,000 TRADE-IN VALUE TOWARDS THE COST OF SUCH MOBILE ROAD SWEEPER FOR USE BY THE TOWN, STATING THE ESTIMATED MAXIMUM COST THEREOF, INCLUDING SAID TRADE-IN VALUE, IS $80,000, APPROPRIATING SAID AMOUNT THEREFOR, LESS TRADE-IN VALUE, AND AUTHORIZING THE ISSUANCE OF $75,000 SERIAL BONDS OF SAID TOWN TO FINANCE THE BALANCE OF SAID APPROPRIATION AFTER DEDUCTING SAID TRADE-IN VALUE. THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote of not less than two-thirds of all the members of said Town Board) AS FOLLOWS: Section 1. The Town of Southold, in the County of Suffolk, New York (herein called "Town"), is hereby authorized to (A) acquire by purchase a new diesel powered mobile road sweeper, and (b) trade-in the 1974 road sweeper owned by the Town and apply the $5,000 trade-in value towards the cost of such mobile road sweeper for use by the Town. The estimated maximum cost of said specific object or purpose, including trade-in value, I preliminary costs and costs incidental thereto and the financing thereof, is $80,000 and said amount, less said trade-in value, is hereby appropriated therefor. The plan of financing includes the issuance of $75,000 serial bonds of the Town to finance the balance of said appropriation, less said trade-in value, and the levy and collection of taxes on all the taxable real property in the Town to pay the principal of said bonds and the interest thereon as the same shall become due and payable. Section 2. Serial bonds of the Town in the principal amount of $75,000, are hereby authorized to be issued pursuant to the provisions of the Local Finance Law, constituting'Chapter 33- a of the Consolidated Laws of the State of New York (herein called "Law") to finance the balance of said appropriation after deducting said trade-in value. Section 3. The following additional matters are hereby determined and declared: (a) The period of probable usefulness of said specific object or purpose for which said $75,000 serial bonds authorized pursuant to this resolution are to be issued, within the limitations of Section 11.00 a. 32 of the Law, is five (5) years. (b) Current funds are not required by the Law to be provided as a down payment prior to the issuance of the bonds authorized by this resolution or any bond anticipation notes issued in anticipation thereof in accordance with Section 107.00 d. 5 of the Law. (c) The proposed maturity of the bonds authorized by this resolution will not exceed five (5) years. Section 4. Each of the bonds authorized by this resolution and any bond anticipation notes issued in anticipation of the sale of said bonds shall contain the recital of validity as prescribed by Section 52.00 of the Law and said bonds and any notes issued in anticipation of said bonds, shall be general obligations of the Town, payable as to both principal and interest by general tax upon all the taxable real property within the Town without limitation of rate or amount. The faith and credit of the Town are hereby irrevocably pledged to the punctual payment of the principal of and interest on said bonds and any notes issued in anticipation of the sale of said bonds and provision shall be made annually in the budget of the Town by appropriation for (a) the amortization and redemption of the bonds and any notes in anticipation thereof to mature in such year and (b) the payment of interest to be due and payable in such year. Section 5. Subject to the provisions of this resolution and of the Law and pursuant to the provisions of Section 30.00 relative to the authorization of the issuance of bond anticipation notes and of Section 50.00 and Sections 56.00 to 60.00 of the Law, the powers and duties of the Town Board relative to authorizing bond anticipation notes and prescribing the terms, form and contents and as to the sale and issuance of the bonds herein authorized and of any bond anticipation notes issued in anticipation of said bonds, and the renewals of said notes, are hereby delegated to the Supervisor, the chief fiscal officer of the Town. Section 6. The validity of the bonds authorized by this resolution and of any notes issued in anticipation of the sale of said bonds, may be contested only if: (a) such obligations are authorized for an object or purpose for which the Town is not authorized to expend money, or (b) the provisions of law which should be complied with at the date of the publication of such resolution are not substantially complied with, and an action, suit or proceeding contesting such validity, is commenced within twenty days after the date of such publication, or (c) such obligations are authorized in violation of the provisions of the constitution. Section 7. This bond resolution shall take effect immediately, and the Town Clerk of the Town, is hereby authorized and directed to publish the foregoing resolution, in full, together with a Notice attached in substantially the form prescribed by §81.00 of the Law in "THE LONG ISLAND TRAVELER- MATTITUCK WATCHMAN," a newspaper published in Southold, New York, and in "THE SUFFOLK TIMES," a newspaper published in Greenport, New York, each having a general circulation in the Town and hereby designated the official newspapers of said Town for such publication. - - -------- PLEASE PUBLISH THE ATTACHED NOTICE AND BOND RESOLUTION IN ITS ENTIRETY, AND FORWARD TWO (2) AFFIDAVITS OF PUBLICATION TO JUDITH T. TERRY, TOWN CLERK, TOWN HALL, MAIN ROAD, SOUTHOLD, NEW YORK 11971. Copies to the following: The Suffolk Times The Long Island Traveler -Watchman Town Clerk's Bulletin Board Town Board Members Superintendent of Highways Dean NOTICE The resolution published herewith has been adopted on the 12th day of March, 1985, 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 the TOWN OF SOUTHOLD, in the County of Suffolk, New York, is not authorized to expend money or if the provisions of law which should have been 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 publication of this Notice, or such obligations were authorized in violation of the provisions of the constitution. JUDITH T. TERRY Town Clerk BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED MARCH 12, 1985, AUTHORIZING THE (A) ACQUISITION OF A NEW DIESEL POWERED MOBILE ROAD SWEEPER, AND (B) TRADE-IN OF THE 1974 ROAD SWEEPER OWNED BY THE TOWN AND APPLICATION OF THE $5,000 TRADE-IN VALUE TOWARDS THE COST OF SUCH MOBILE ROAD SWEEPER FOR USE BY THE TOWN, STATING THE ESTIMATED MAXIMUM COST THEREOF, INCLUDING SAID TRADE-IN VALUE, IS $80,000, APPROPRIATING SAID AMOUNT THEREFOR, LESS TRADE-IN VALUE, AND AUTHORIZING THE ISSUANCE OF $75,000 SERIAL BONDS OF SAID TOWN TO FINANCE THE BALANCE OF SAID APPROPRIATION AFTER DEDUCTING SAID TRADE-IN VALUE. THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote of not less than two-thirds of all the members of said Town Board) AS FOLLOWS: Section 1. The Town of Southold, in the County of Suffolk, New York (herein called "Town"), is hereby authorized to (A) acquire by purchase a new diesel powered mobile road sweeper, and (b) trade-in the 1974 road sweeper owned by the Town and apply the $5,000 trade-in value towards the cost of such mobile road sweeper for use by the Town. The estimated maximum cost of said specific object or purpose, including trade-in value, I preliminary costs and costs incidental thereto and the financing thereof, is $80,000 and said amount, less said trade-in value, is hereby appropriated therefor. The plan of financing includes the issuance of $75,000 serial bonds of the Town to finance the balance of said appropriation, less said trade-in value, and the levy and collection of taxes on all the taxable real property in the Town to pay the principal of said bonds and the interest thereon as the same shall become due and payable. Section 2. Serial bonds of the Town in the principal amount of $75,000, are hereby authorized to be issued pursuant to the provisions of the Local Finance Law, constituting'Chapter 33- a of the Consolidated Laws of the State of New York (herein called "Law") to finance the balance of said appropriation after deducting said trade-in value. Section 3. The following additional matters are hereby determined and declared: (a) The period of probable usefulness of said specific object or purpose for which said $75,000 serial bonds authorized pursuant to this resolution are to be issued, within the limitations of Section 11.00 a. 32 of the Law, is five (5) years. (b) Current funds are not required by the Law to be provided as a down payment prior to the issuance of the bonds authorized by this resolution or any bond anticipation notes issued in anticipation thereof in accordance with Section 107.00 d. 5 of the Law. (c) The proposed maturity of the bonds authorized by this resolution will not exceed five (5) years. A Section 4. Each of the bonds authorized by this resolution and any bond anticipation notes issued in anticipation of the sale of said bonds shall contain the recital of validity as prescribed by Section 52.00 of the Law and said bonds and any notes issued in anticipation of said bonds, shall be general obligations of the Town, payable as to both principal and interest by general tax upon all the taxable real property within the Town without limitation of rate or amount. The faith and credit of the Town are hereby irrevocably pledged to the punctual payment of the principal of and interest on said bonds and any notes issued in anticipation of the sale of said bonds and provision shall be made annually in the budget of the Town by appropriation for (a) the amortization and redemption of the bonds and any notes in anticipation thereof to mature in such year and (b) the payment of interest to be due and payable in such year. Section 5. Subject to the provisions of this resolution and of the Law and pursuant to the provisions of Section 30.00 relative to the authorization of the issuance of bond anticipation notes and of Section 50.00 and Sections 56.00 to 60.00 of the Law, the powers and duties of the Town Board relative to authorizing bond anticipation notes and prescribing the terms, form and contents and as to the sale and issuance of the bonds herein authorized and of any bond anticipation notes issued in anticipation of said bonds, and the renewals of said notes, are hereby delegated to the Supervisor, the chief fiscal officer of the Town. Section 6. The validity of the bonds authorized by this resolution and of any notes issued in anticipation of the sale of said bonds, may be contested only if: (a) such obligations are authorized for an object or purpose for which the Town is not authorized to expend money, or (b) the provisions of law which should be complied with at the date of the publication of such resolution are not substantially complied with, and an action, suit or proceeding contesting such validity, is commenced within twenty days after the date of such publication, or (c) such obligations are authorized in violation of the provisions of the constitution. Section 7. This bond resolution shall take effect immediately, and the Town Clerk of the Town, is hereby authorized and directed to publish the foregoing resolution, in full, together with a Notice attached in substantially the form prescribed by §81.00 of the Law in "THE LONG ISLAND TRAVELER- MATTITUCK WATCHMAN," a newspaper published in Southold, New York, and in "THE SUFFOLK TIMES," a newspaper published in Greenport, New York, each having a general circulation in the Town and hereby designated the official newspapers of said Town for such publication. EXTRACT OF MINUTES Meeting of the Town Board of the Town of Southold, in the County of Suffolk, New York March 12, 1985 A regular meeting of the Town Board of the Town of Southold, in the County of Suffolk, New York, was held at the Town Hall, Southold, New York, on :March 12, 1985 at 7:30 o'clock P.M. (Prevailing Time). There were pre"sent: Honorable Francis J. Murphy, Supervisor; and Councilpersons: Joseph L. Townsend, Jr. Paul Stoutenburgh James A. Schondebare Jean W. Cochran Justice: Raymond W. Edwards There were absent: None. Also present: Judith T. Terry, Town Clerk Robert W. Tasker, Town Attorney Supervisor Murphy offered the following resolution and moved its adoption: 0 BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED MARCH 12, 1985, AUTHORIZING THE (A) ACQUISITION OF A NEW DIESEL POWERED MOBILE ROAD SWEEPER, AND (B) TRADE-IN OF THE 1974 ROAD SWEEPER OWNED BY THE TOWN AND APPLICATION OF THE $5,000 TRADE-IN VALUE TOWARDS THE COST OF SUCH MOBILE ROAD SWEEPER FOR USE BY THE TOWN, STATING THE ESTIMATED MAXIMUM COST THEREOF, INCLUDING SAID TRADE-IN VALUE, IS $80,000, APPROPRIATING SAID AMOUNT THEREFOR, LESS TRADE-IN VALUE, AND AUTHORIZING THE ISSUANCE OF $75,000 SERIAL BONDS OF SAID TOWN TO FINANCE THE BALANCE OF SAID APPROPRIATION AFTER DEDUCTING SAID TRADE-IN VALUE. THE TOWN BOARD OF THE TOWN OF SOUTHOLD, IN THE COUNTY OF SUFFOLK, NEW YORK, HEREBY RESOLVES (by the favorable vote of not less than two-thirds of all the members of said Town Board) AS FOLLOWS: Section 1. The Town of Southold, in the County of Suffolk, New York (herein called "Town"), is hereby authorized to (A) acquire by purchase a new diesel powered mobile road sweeper, and (b) trade-in the 1974 road sweeper owned by the Town and apply the $5,000 trade-in value towards the cost of such mobile road sweeper for use by the Town. The estimated maximum cost of said specific object or purpose, including trade-in value, preliminary costs and costs incidental thereto and the financing thereof, is $80,000 and said amount, less said trade-in value, is hereby appropriated therefor. The plan of financing includes the issuance of $75,000 serial bonds of the Town to finance the balance of said appropriation, less said trade-in value, and the levy and collection of taxes on all the taxable real property in the Town to pay the principal of said bonds and the interest thereon as the same shall become due and payable. Section 2. Serial bonds of the Town in the principal amount of $75,000, are hereby authorized to be issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33- a of the Consolidated Laws of the State of New York (herein called "Law") to finance the balance of said appropriation after deducting said trade-in value. Section 3. The following additional matters are hereby determined and declared: (a) The period of probable usefulness of said specific object or purpose for which said $75,000 serial bonds authorized pursuant to this resolution are to be issued, within the limitations of Section 11.00 a. 32 of the Law, is five (5) years. (b) Current funds are not required by the Law to be provided as a down payment prior to the issuance of the bonds authorized by this resolution or any bond anticipation notes issued in anticipation thereof in accordance with Section 107.00 d. 5 of the Law. (c) The proposed maturity of the bonds authorized by this resolution will not exceed five (5) years. Section 4. Each of the bonds authorized by this resolution and any bond anticipation notes issued in anticipation of the sale of said bonds shall contain the recital of validity as prescribed by Section 52.00 of the Law and said bonds and any notes issued in anticipation of said bonds, shall be general obligations of the Town, payable as to both principal and interest by general tax upon all the taxable real property within the Town without limitation of rate or'amount. The faith and credit of the Town are hereby irrevocably pledged to the punctual payment of the principal of and interest on said bonds and any notes issued in anticipation of the sale of said bonds and provision shall be made annually in the budget of the Town by appropriation for (a) the amortization and redemption of the bonds and any notes in anticipation thereof to mature in such year and (b) the payment of interest to be due and payable in such year. Section 5. Subject to the provisions of this resolution and of the Law and pursuant to the provisions of Section 30.00 relative to the authorization of the issuance of bond anticipation notes and of Section 50.00 and Sections 56.00 to 60.00 of the Law, the powers and duties of the Town Board relative to authorizing bond anticipation notes and prescribing the terms, form and contents and as to the sale and issuance of the bonds herein authorized and of any bond anticipation notes issued in anticipation of said bonds, and the renewals of said notes, are hereby delegated to the Supervisor, the chief fiscal officer of the Town. Section 6. The validity of the bonds authorized by this resolution and of any notes issued in anticipation of the sale of said bonds, may be contested only :if: (a) such obligations are authorized for an object or purpose for which the Town is not authorized to expend money, or (b) the provisions of law which should be complied with at the date of the publication of such resolution are not substantially complied with, and an action, suit or proceeding contesting such validity, is commenced within twenty days after the date of such publication, or (c) such obligations are authorized in violation of the provisions of the constitution. Section 7. This bond resolution shall take effect immediately, and the Town Clerk of the Town, is hereby authorized and directed to publish the foregoing resolution, in full, together with a Notice attached in substantially the form prescribed by §81.00 of the Law in "THE LONG ISLAND TRAVELER- MATTITUCK WATCHMAN," a newspaper published in Southold, New York, and in "THE SUFFOLK TIMES," a newspaper published in Greenport, New York, each having a general circulation in the Town and hereby designated the official newspapers of said Town for such publication. The adoption of the foregoing resolution was seconded by Justice Edwards and duly put to a vote on roll call, which resulted as follows: AYES: Supervisor Murphy, Councilman Townsend, Justice Edwards, Councilman Stoutenburgh, Councilman Schondebare, Councilwoman Cochran. NOES: None. The resolution was declared adopted. General - No Veto CERTIFICATE I, JUDITH T. TERRY, Town Clerk of the Town of Southold, in the County of Suffolk, State of New York, HEREBY CERTIFY that the foregoing annexed extract from the minutes of a meeting of the Town Board of said Town of Southold duly called and held on March 12, 1985, has been compared by me with the original minutes as officially recorded in my office in the Minute Book of said Town Board and is a true, complete and correct copy thereof and of the whole of said original minutes so far as the same relate to the subject matters referred to :in said extract. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of said Town of Southold this 12th day of March, 1985. Town Clerk (SEAL) 1. 0 0 r., ,, � _03" -0.4 (212) 820-9493 March /, 1985 Town of Southold, New York $75,000 Serial Bonds Our File No. 729/22 Robert W. Tasker, Esq. Office of the Supervisor Town of Southold Main Road Southold, New York 11971 Dear Mr. Tasker: Pursuant to your request, I have had prepared and now send you draft Extract of Minutes of a Town Board meeting to be held on March 12, 1985, showing adoption of the above bond resolution and providing for publication, in full. Please note that the bond resolution is to be adopted by at least a two-thirds vote of the entire Town Board membership. An extra copy of the bond resolution with the prescribed form of Clerk's statutory notice affixed in readiness for publication, in full, in each of the official Town newspapers is also enclosed. You will recall that publication of the bond resolution, in full, commences a 20 day statute of limitations pursuant to the provisions of Section 80.00 et seq of the Local Finance Law. Please obtain and forward to me a certified copy of the Extract of Minutes and original Affidavits of Publication. With best regards, I am JJM,Jr. /mi enc. Yours Sincerel,, James J. Maguire, Jr. Gown of 0outbalb Veronir, N.J. RAYMOND C. DEAN TEL, 765-3140 S 1 7,34-6211 UF_3FRIN TENDENT SPLIC: I Y, I CAT : (DS 1Tr4 FOUR-WHEEL SELF-PROPELLED PJCIKI3P 1331REET SWEEPER - OR EQUAL WITH TRADE-IN OF ONE (1) 1974 MOBIL SWEEPER GEN'LRAL SPECIFICATIONS The street sweeper to be furnished under these specifications shall. be a four-wheel, self-propelled engine drive with auxiliary engine to rx-�wler pick-up broom, gutter broom, elevator system and water spray s}stem pamp; shall have a min-i4mu- I .n of 4 cubic yard (self-lol,---�-"), capacity shill be regularly 1:i ' steel as manufacturer's current re,arid comply coPly with standard s,,:,,ecificati(.)ns for t1 -;e model of f c:,r e 1�-1 wit -h exceptions and additions as contained herein. (PROPULSION) ENGINE !Mese;.; shall be a General Votors V-8 4087-711101. with 165 brat.e hor sepov.,er at 3, 000 r. p. m.; 500 C.T.D. Donaldson dry tYPe air cleaner, Hcavy duty full flow oil filter. Mechanical limiting iting Speed cove-rnor, l mm, ini I'--uthirty (30) gai'lon fuel tank; anti- free -7a to 34 dec.,rees F. .. Hou ri-,��:, t e r in case of rear engine failure, ront engine must be cap- able of raising the pick-up broom and gutter 1.)roor­. to enable machine to return to garage. hYDRAULIC SYSTEM (PROPULSION ENGTNE) Gear PuMP to supply power to broom lift/lower, extend/retract hy.- Jraulical,ly, and hopper gate open/close fUnctions independent of broom and elevate t- rotation fu_ncti(.-.,j-j ' c ' ; priority valve for sweeper steerii1g; sys,teiri relief; 33 micron return line filter and reservoir- with temperr.,itu.re and capacity sight gauge. T � S ?, i I S S I () IN 'utomatic t,- n , , miss ion. , Allisnj,, lodel AT545 with 4 for,,,.,are. a.nc, 1. reverse speed. Al'XILIARY ENGINE T() supply power to brooms and elevator, indlependent of sweei.er pro- pulsion speed. To be located at rear of sweeper for easy (_7,rourd access for maintenance and service. Shall be a John Deere 4 cv�inc'er 4219D with 56 brake horsepower at 1,800 r.p.m. 219 C.T.D. -7 cleaner with safety element. 0 i I f i ." t r and :case sand filter to prjjvent dust frcm. entering engine; 11 2 vc,, I t s t t e r �jn d ignition system, but no alte'rr ator or 'bLattery; C'-rr(_-r1t to be supplied by main engine battery. c2aliun capacity fuel tank; anti -freeze protection to 34 -1ec1-,rrz-CS V . �i,gi�wtt� �P�ttrtmPrtt Down of #004olb rernnir. N.V. 11958 RAYMOND C. DEAN TEL. 765-3140 SUPERINTENDENT 734-57.11 Page 2 HYDRAULIC SYSTEM (AUXILIARY ENGINE) Dual pump drive driven directly off flywheel. Tandem gear type pump for rear broom and elevator functions. Separate high pressure relief valve and 3 position solenoid valve for each function. Two 100 mesh suction filter and 10 micron return filter with lift out element and oil cooler. Hydrualic motors for elvator, pickup broom and gutter broom shall be of same type, size and manufacturer for interchange- ability. Sight gauge indicating hyclraulic oil cat:,,acity and temperature shall be provided. FRONT AXLE Full width 68 inch track, heavy duty "I" beam track type, not Less than 7,000 lbs, load rating capacity. Axle loading shall nct exceed manufacturer's rated capacity. REAR AXLE Full width, minimum 80 inch track heavy duty hypoid -helical double reduction to provide travel speeds up to 55 MPH and a load rating capacity -of not less than 17,000 lbs. Axle loading shall not exceed manufacturer's rated capacity. Two speed - 12.64:1, low range, 6.75:1, high range. WHEELS Heavy duty truck disc type. Front to have 6 stud holes. Rear to have 10 stud holes. TIRES Front - 7.50x20, 8 ply rating Rear - 10.00x20, 12 ply rating All tires to include self -balancing, puncture sealing Silicone. CTi rUTMr_ Full power, cam and lever type; single right hand control.. Turning radius minimum 18 feet. CHASSIS Completely and wholly fabricated and assembled for street sweepers, a safety factpr of 4. Standard or modified truck chassis not acceptable Overall length of sweeper not to exceed 21. feet. ".aximum overhang, behind centerline of rear axle not to exceed 92 inches. Built-in jac:%- pads, on each side of machine frame to be provided. FRONT BUMPER Full width heavy duty steel, bolted to frame with two holes each siCe. Bumper shall not be a counterweight for weight distribution of sweeper. Front towing hooks to be mounted directly to chassis. Rear towing eyes to be mounted on chassis. 1&tg way i9evartmrnt Down of #outllold Veronir. N.J. 11955 RAYMOND C. DEAN TEL. 765-3140 SUPERINTENDENT 734-5211 rage .s FRONT FENDERS AND HOOD Reinforced fiberglass and forward tilting for easy access to engine compartment for maintenance. Bolt -on removable fenders for drive engine access not acceptable. CAB All steel, full width cab with adjustable Bostrom bucket seat, arm rest, seat belt. Single right hand steering and single right hand con- trols. Shatter -proof tinted glass throughout, full vision doors with split glass vertical sliding windows. Fresh air two speed heater and defroster, separate air flow and temperature controls. Sun visor; dual electric 2 speed windshield wiper, washers. Doors to be hinged at rear so sweeper may be operated with door open, when desired. All instruments and controls shall be located in cab within easy reach and vision from operator position; 6" x 16" West Coast type rear view mirror with ad- justable bottom convex section, mounted on each side on front fenders. Highest point of machine shall be top of cab 715" (without flasher) for clearance under low hanging braches, etc. Cab pressurizer, mud flaps, undercoating, slow moving vehicle decal and back-up alarm. INSTRUMENTS Water temperature, oil pressure and gasoline gauges for both engines, ammeter, speedometer -odometer for propulsion engine, tachometer and engine hour meter for auxiliary engine, and high bearn indicator. All instruments to be located on dash of cab, centrally located for good vision from operator position. Behind operator installation riot acceptable. I-4 " WIM M. Capacity for apporximately 8 hours of normal operation Propulsion engine gasoline tank - 30 U.S. gallons Auxiliary engine gasoline tank - 20 U.S. gallons * nipgpl when applicable [•13*9 Hydraulic service dual system brakes all four wheels with hydraulic booster and total lining area of not less than 430 square inches; mechanical emergency brake on drive line with orscheln lever and not less than 60 square inches lining area. ELECTRICAL SYSTEM 12 volt, 90 amp dual pulley drive alternator, with 35 grip output at 550 engine idle speed, and 12 volt, 90 amp hour capacity battery. All circuits protected by cab -mounted centrally located fuses. Wiring harness to be color coded and numbered with quick disconnect couplings and shall be accessible for maintenance. Wiring harness installed in- side frame not acceptable. 0 0 i�ig4way Urvnrtment Down of #out4old Veronir. N.V. 11958 RAYMOND C. DEAN SUPERINTENDENT Page 4 N LIGHTING SYSTEM TEL. 765-3140 734-5211 Dual front head lights with high -low beam, two combination tail and stop lights; one spotlight over gutter broom and one on rear for pickup broom. Self -cancelling directional signals with four-way flasher hazard switch, automatic backup light, interior cab dome light and Federal Safety Standards clearance lights. Rear license plate bracket with light and reflectors. Dietz rotating light, Model 7-400. DIRT HOPPER Four (4) cubic yard (self -load) minimum capacity, located between front and rear axles for equal weight. distribution when loaded. Gravity dump, hydraulically operated gate controlled from cab. Grab handles, sai:ety ;steps, and access doors. A hopper full load indicator light shall be provided in cab - dash mounted. Direct access to main gas tank and auxiliary gas tank sending units from back of hopper. In- dependent hopper pivoting so wheels always maintain contact with ground. Internal leaf spreader. SPRAY SYSTEM Minimum water tank capacity, 280 total useable gallons, with tank gauge, 2�" x 15'0" full hose attached, with 21-1" NSR female coupling on hydrant end. Shut-off cock located between water tank and spray system, with strainer in an easily accessible position between water ` tank and water pump. Cline brass spray nozzles located across front of sweeper and 2 over gutter broom. Water spray to be controlled from cab. 20"x30" bolt --down manhole to be provided, with inside of tank coated with'Zincilate coating". Shut-off valves shall be pro- vided so that left side spray nozzles can be shut off (if desired), extending water supply. Cold weather drain (external) shall be provided. WATER SYSTEM Belt driven centrifugal type pump, with brass impeller capable of running without water in system without damage to pump. Water system not to be used for hydraulic cooling. Hydrant flow valve and wrench. DIRT CONVEYOR Hydraulically driven and reversible; non -clogging, replaceable rubber squeegee type, 9 flights, using steel drive chains (2-3/8" wide) and rubber sprockets (2-3/16" wide) a relief valve to prevent damage from impassable objects. Two (2) piece abrasive resistant (A.R.) elevator bottom plate, bolt -in type, for easy replacement and long wear. An elevator overload (buzzer) shall be installed in cab indicating to operator when elevator is overloaded or Jammed. DRAG SHOES ....1 Full .floating suspension with both vertical and lateral movr-.-ment.. A& . �t�l�iutt� 9g,pttrtment 0owu of #outhoid �rronir, �i.�. 11958 RAYMOND C. DEAN TEL. 765-3140 SUPERINTENDENT 734-5211 ;.Ake 5 PICK UP BROOM 36" diacnater and 58" in length; full floating by means of springs and shock absorbers. CASTER WHEELS NOT ACCEPTABLE. Drive to be hydraulic; self -aligning anti -friction bearings. Constant forward speed controlled by RPM of auxiliary engine; hydraulic lift with controls in cab. Rear broom cover safety striped. Broom shall remain still while dirt conveyor is in reverse for safety. Center dirt board shall be fully protected when pick-up broom is retracted. GUTTER BROOM 42" Jiameter with 7 section wire filled aluminum backed segmc-nts (i­,�Till.able) mounted on steel disc with wearing edge should curb 6e contacted; free floating with full sideway oscillation and adjustable dor broom pressure and wear. Hydraulic drive. Constant forward or reverse speed hydraulically driven and controlled by RPM of auxiliary engine. Hydraulic lift controls in cab. Gutter broom to be visible by operator without use of mirrors, and be hydraulically retractable to 8 feet for travel. Gutter broom shall clear tires at all time (sweeping or traveling position) PAINT Standard manufacturer's single color, DuPont Dulux or equal. State ,,.,,.brand and paint number. �AkRANTY Sweeper shall be warranted for a period of six (6) months or 5,000 miles of operation from date of delivery. The elevator chains and sprockets shall be warranted on a pro -rata basis for twenty-four (24) months or twelve thousand (12,000) miles, whichever period shall expire first. 9