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
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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.
