MAY 27, 2011 SPECIAL MEETING

 

SPECIAL TOWN BOARD MEETING

May 27, 2011

10:00 am

The Town Board me this date as per the following notice posted and sent to the media, with the following members present:  Supervisor Stanley, Councilman Bartlett, Bernstein and Jordan, Councilman Malloy absent.

Pledge of Allegiance to our flag

Roll Call

Public Notice

NOTICE OF SPECIAL TOWN BOARD MEETING

PLEASE TAKE NOTICE that the Town of Shandaken Town Board will hold a Special Town Board Meeting on May 27, 2011 at 10:00 am.  The Purpose of this meeting will be to adopt a bond resolution for the Town Ambulance.    This meeting will be held at the Town Hall, 7209 Route 28, Shandaken, New York.

Dated:    May 24, 2011 BY ORDER OF THE TOWN BOARD

Laurilyn J Frasier, RMC/MMC

RESOLUTION 77                        OFFERED BY  Supervisor Stanley

BOND RESOLUTION

AUTHORIZING THE ISSUANCE OF A $125,000 STATUTORY

INSTALLMENT BOND OF THE TOWN OF SHANDAKEN,

COUNTY OF ULSTER, PURSUANT TO THE LOCAL FINANCE

LAW TO FINANCE THE ACQUISITION OF AN AMBULANCE

BE IT RESOLVED, by the Town board of the Town of Shandaken, in the County of Ulster, as

follows:

 

Section 1.        The Town of Shandaken, County of Ulster, shall issue its serial bonds of

the aggregate principal amount of ONE HUNDRED TWENTY-FIVE THOUSAND AND

00/100 ($125,000.00) DOLLARS pursuant to the Local Finance Law of New York, in order to

finance the specific purpose hereinafter described.

 

Section 2.        The specific purpose (hereinafter referred to as “purpose”) to be financed

pursuant to this resolution is: the acquisition of an ambulance.

 

Section 3.        It is hereby stated that (a) the maximum cost of said purpose as estimated

by the Town board is ONE HUNDRED TWENTY-FIVE THOUSAND AND 00/100

($125,000.00) DOLLARS, and (b) no money has heretofore been authorized to be applied to the

payment of the costs of said purpose, and (c) the Town board plans to finance the Town’s costs

of said purpose entirely from funds raised from the issuance of such Statutory Installment bond

(notwithstanding the interim use of funds derived from Bond anticipation Notes that may be

issued in contemplation of the eventual issuance of said Statutory Installment Bond), and

 

Section 4.        It is hereby determined that said purpose is an object or purpose described

in Section 11.00 of the Local Finance Law, and that the period of probable usefulness of said

purpose is five (5) years.

 

Section 5.        It is hereby determined that the purposed maturity of the obligations

authorized by this resolution will be five (5) years or less.

 

Section 6.        Subject to the terms and contents of this resolution and the Local Finance

law, and pursuant to the provisions of Sections 30.00, 50.00 and 60.00, inclusive, of said law, the

power to authorize Bond Anticipation notes in anticipation of the issuance of the Statutory

Installment Bond authorized by this resolution and the renewal of said notes and the power to

prescribe the terms, form and contents of said Statutory Installment Bond, and said Bond

Anticipation Notes, and the power to sell and deliver said Statutory Installment Bond and any

bond anticipation notes issued in anticipation of the issuance of such bonds is hereby delegated to

the town Supervisor, the Chief Fiscal officer of the Town.  The Town Supervisor is hereby

authorized to sign any Statutory Installment Bond issued pursuant to this resolution and any

Page 2

Special Town Board Meeting

May 27, 2011

 

Bond Anticipation Notes issued in anticipation of the issuance of said Statutory installment

Bond, and the Town Clerk is hereby authorized to affix the corporate seal of said Town to any

of said Statutory Installment Bond or any Bond Anticipation Notes and to attest such seal.

 

Section 7.        This resolution shall be published in full by the Town Clerk of said Town

together with a notice in substantially the form prescribed by Section 81.00 of said Local Finance

Law, and such publication shall be in The Daily Freeman, a newspaper published in the City of

Kingston, and having a general circulation in said Town.  The validity of said Statutory

Installment Bond or of any bond anticipation notes issued in anticipation of the sale of said

Statutory Installment bond may be contested only if such obligations are authorized for an object

or purpose for which said Town is not authorized to expend money or the provisions of law

which should be complied with at the date of the publication of this resolution are not

substantially complied with, and an action, suit or proceeding contesting such validity is

commenced within twenty days after the date of such publication; or if said obligations are

authorized in violation of the constitution of New York.

 

Section 8.        This resolution shall take effect immediately upon its adoption.

 

AND MOVES ITS ADOPTION

 

Seconded By :   Councilman Jordan

 

ROLL CALL   4 Ayes 1 Absent (Malloy)

 

Motion by Supervisor Stanley to adjourn Special Town Board meeting, seconded by Councilman Bernstein, all in favor, motion carried.