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HomeMy WebLinkAboutReg Mtg. Minutes 2/10/1969 (2)�1 RESOLUTION #1397 - BOND RESOLUTION 3779 -G At a regular meeting of the Board of Trustees of the Village of Cayuga Heights, Tompkins County, New York, held at 194 Pleasant Grove Road, Ithaca, New York, in said Village, on the 10th day of February 1969, at 7:30 o'clock P.M., Eastern Standard Time. The meeting was called to order by Mayor F. G. Marcham, and upon roll being called, the following were present: Trustees Ronald E. Anderson, Harold R. Fisher, Mary T. Freeman, Carl H. Nelson, Rene F. Randolph. Absent: Trustee Verne A. Fogg. The following resolution was offered by Trustee Carl H. Nelson, who moved its adoption, seconded by Trustee Ronald E. Anderson, to -wit: BOND RESOLUTION DATED FEBRUARY 10, 1969. A RESOLUTION AUTHORIZING THE ACQUISITION OF CERTAIN REAL PROPERTY IN AND FOR THE VILLAGE OF CAYUGA HEIGHTS, TOMPKINS COUNTY, NEW YORK, AND THE RECONSTRUCTION OF A BUILDING LOCATED ON SAID REAL PROPERTY, TO BE USED FOR PUBLIC VILLAGE PURPOSES, AT A TOTAL ESTIMATED COST OF $94,000, AND AUTHORIZING THE ISSUANCE OF $893300 SERIAL BONDS OF SAID VILLAGE TO PAY PART OF THE COST THEREOF, AND AUTHORIZING THE EXPENDITURE OF $4,700 HEREBY APPROPRIATED FROM THE TAX STABILIZATION RESERVE FUND OF SAID VILLAGE TO PAY THE REMAINING COST THEREOF. BE IT RESOLVED, by the Board of Trustees of the Village of Cayuga Heights, Tompkins County, New York, as follows: Section 1. The following are hereby authorized in and for the Village of Cayuga Heights, Tompkins County, New York: • a) The acquisition of a certain parcel of real property located on Hanshaw Road, near the intersection of Hanshaw Road and North Triphammer Road, presently owned by Village Green, Inc., in said Village, at a maximum estimated cost of $59,000; and b) The reconstruction and equipment of a building, commonly known as the "Stone House ", located on said real property, at a maximum estimated cost of $35,000. Section 2. The total estimated cost of the aforesaid specific objects or n » >1 �Qes is19�,000, and the plan for the financing thereof is as follows: a) By the issuance of $89,300 serial bonds of said Village, hereby authorized to be issued pursuant to the Local Finance Law. Of said $89,300 serial bonds the sum of $56,050 shall be allocated for the acquisition of said real property, and the sum of $33,250 shall be allocated for the reconstruction and equipment of the aforesaid building. b) By the expenditure of $4,700 hereby appropriated from the Tax Stabilization Reserve Fund. Of said $4,700 the sum of $2,950 shall be allocated for the acqui- sition of the aforesaid real property and $1,750 shall be allocated for the recon- struction and equipment of the aforesaid building, which amounts shall respectively constitute the down payments required by Section 107.00 of the Local Finance Law. Section 3. It is hereby determined that the period of probable usefulness of • the aforesaid acquisition of real property is thirty years pursuant to subdivision 21(a) of paragraph a of Section 11.00 of the Local Finance Law and that the period of probable usefulness of the aforesaid reconstruction is fifteen years, pursuant to subdivision 12(a)(2) of said paragraph and section. It is hereby further determined that the maximum maturity of the serial bonds herein authorized will exceed five years. -2- Section 4. The faith and credit of said Village of Cayuga Heights, New York, are hereby irrevocably pledged for the payment of the principal of and interest on such bonds as the same respectively become due and payable. An annual appropri- ation shall be made in each year sufficient to pay the principal of and interest on such bonds becoming due and payable in such year. There shall annually be levied on all the taxable real property of said Village a tax sufficient to pay the principal of and interest on such bonds as the same become due and payable. Section 5. Subject to the provisions of the Local Finance Law, the power to authorize the issuance of and to sell bond anticipation notes in anticipation of the issuance and sale of the serial bonds herein authorized, including renewals of such notes, is hereby delegated to the Village Treasurer, the chief fiscal officer. Such notes shall be of such terms, form and contents, and shall be sold in such manner, as may be prescribed by said Village Treasurer, consistent with the provisions of the Local Finance Law. Section 6. The validity of such bonds may be contested only if: 1) Such bonds are authorized for an object or purpose for which said Village is not authorized to expend money, or 2) The provisions of law which should be complied with at the date of publication of this resolution are not substantially complied with, and an action, suit or proceeding contesting such validity is commenced within twenty days after the date of such publication, or 3) Such bonds are authorized in violation of the provisions of the Constitution. Section 7. Upon this resolution taking effect, the same shall be published in full in The Ithaca Journal, the official newspaper together with a notice of the Village Clerk in substantially the form provided by Section 81.00 of the Local Finance Law. Section S. This resolution is subject to permissive referendum in accordance with Section 36.00 of the Local Finance Law, and Article 5 -A of the Village Law. The question of the adoption of the foregoing resolution was duly put to a vote on roll call, which resulted as follows: Trustee Ronald E. Anderson voting yes Trustee Harold R. Fisher voting yes Trustee Mary T. Freeman voting yes Trustee Carl H. Nelson voting yes Trustee Rane F. Randolph voting yes The resolution was thereupon declared duly adopted. The following resolution was offered by Trustee Harold R. Fisher, who moved its adoption, seconded by Trustee Mary T. Freeman, to -wit: • BOND RESOLUTION DATED FEBRUARY 10, 1969. A RESOLUTION AUTHORIZING THE ACQUISITION OF CERTAIN REAL PROPERTY IN AND FOR THE VILLAGE OF CAYUGA HEIGHTS, TOMPKINS COUNTY, NEW YORK, AND THE CONSTRUCTION THEREON OF A PARKING AREA, AT A TOTAL ESTIMATED -3- COST OF $13,000, AND AUTHORIZING THE ISSUANCE OF $123350 SERIAL BONDS OF SAID VILLAGE TO PAY PART OF THE COST THEREOF, AND • AUTHORIZING THE EKPENDITURE OF $650 HEREBY APPROPRIATED FROM THE TAX STABILIZATION RESERVE FUND OF SAID VILLAGE TO PAY THE REMAINING COST THEREOF. BE IT RESOLVED, by the Board of Trustees of the Village of Cayuga Heights, Tompkins County, New York, as follows: Section 1. The following are hereby authorized in and for the Village of Cayuga Heights, Tompkins County, New York: a) The acquisition of a certain parcel of real property approximately 95 feet by 125 feet, located on the north side of Hanshaw Road, presently owned by Village Green, Inc., in said Village, at a maximum estimated cost of $9,000; and b) The construction of a parking area on said real property, at a maximum estimated cost of $4,000. Section 2. The total estimated cost of the aforesaid specific objects or purposes is 13,000, and the plan for the financing thereof is as follows: a) By the issuance of $12,350 serial bonds of said Village, hereby authorized to be issued pursuant to the Local Finance Law. Of said $12,350 serial bonds the sum of $8,550 shall be allocated for the acquisition of said real property, and the sum of $3,800 shall be allocated for the construction of the aforesaid parking area. • b) By the expenditure of $650 hereby appropriated from the Tax Stabilization Reserve Fund. Of said $650 the sum of $450 shall be allocated for the acquisition of the aforesaid real property and $200 shall be allocated for the construction of the aforesaid parking area, which amounts shall respectively constitute the down payments required by Section 107.00 of the Local Finance Law. Section 3. It is hereby determined that the period of probable usefulness of the aforesaid acquisition of real property is thirty years pursuant to subdivision 21(a) of paragraph a of Section 31.00 of the Local Finance Law and that the period of probable usefulness of the aforesaid construction is ten years, pursuant to subdivision 20(f) of said paragraph and section. It is. hereby further determined that the maximum maturity of the serial bonds herein authorized will exceed five years. Section 4. The faith and credit of said Village of Cayuga Heights, New York, are hereby irrevocably pledged for the payment of the principal of and interest on such bonds as the same respectively become due and payable. An annual appropriation shall be made in each year sufficient to pay the principal of and interest on such bonds becoming due and payable in such year. There shall annually be levied on all the taxable real property of said Village a tax sufficient to pay the principal of and interest on such bonds as the same become due and payable. Section 5. Subject to the provisions of the Local Finance Law, the power to authorize the issuance of and to sell bond anticipation notes in anticipation of the issuance and sale of the serial bonds herein authorized, including renewals of such notes, is hereby delegated to the Village Treasurer, the chief fiscal • officer. Such notes shall be of such terms, form and contents, and shall be sold in such manner, as may be prescribed by said Village Treasurer, consistent with the provisions of the Local Finance Law. -4- Section 6. The validity of such bonds may be contested only if: 1) Such bonds are authorized for an object or purpose for which said Village • is not authorized to expend money, or 2) The provisions of law which should be complied with at the date of publication of this resolution are not substantially complied with, and an action, suit or proceeding contesting such validity is commenced within twenty days after the date of such publication, or 3) Such bonds are authorized in violation of the provisions of the Constitution Section 7. Upon this resolution taking effect, the same shall be published in full in The Ithaca Journal, the official newspaper together with a notice of the Village Clerk in substantially the form provided by Section 81.00 of the Local Finance Law. Section 8. This resolution is subject to permissive referendum in accordance with Section 36.00 of the Local Finance Law, and Article 5 -A of the Village Law. The question of the adoption of the foregoing resolution was duly put to a vote on roll call, which resulted as follows: Trustee Ronald E. Anderson voting yes Trustee Harold R. Fisher voting yes Trustee Mary T. Freeman voting yes Trustee Carl H. Nelson voting yes is Trustee Rane F. Randolph voting yes The resolution was thereupon declared duly adopted. The following resolution was offered by Trustee Ronald E. Anderson, who moved its adoption, seconded by Trustee Carl H. Nelson, to -wit: BOND RESOLUTION DATED FEBRUARY 10, 1969. A RESOLUTION AUTHORIZING THE RECONSTRUCTION OF THE VILLAGE HALL IN AND FOR THE VILLAGE OF CAYUGA HEIGHTS, TOMPKINS COUNTY, NEW YORK, AT A MAXIMUM ESTIMATED COST OF $3,500 AND AUTHORIZING THE ISSUANCE OF $3,500 SERIAL BONDS OF SAID VILLAGE TO PAY THE COST THEREOF. BE IT RESOLVED, by the Board of Trustees of the Village of Cayuga Heights, 'Tompkins County, New York, as follows: Section 1. The reconstruction of the Village Hall in and for the Village of Cayuga Heights, Tompkins County, New York, is hereby authorized at a maximum estimated cost of $3,500. Section 2. The plan for the financing of such maximum estimated cost is by the issuance of $3,500 serial bonds of said Village hereby authorized to be issued therefor pursuant to the Local Finance Law. • Section 3. It is hereby determined that the period of probable usefulness of the aforesaid object or purpose is ten years, pursuant to subdivision 12(a)(3) of paragraph a of Section 11.00 of the Local Finance Law. It is hereby further determined that said bonds shall mature over a period not to exceed five years. M -5- Section 4. The faith and credit of said Village of Cayuga Heights, New York, are hereby irrevocably pledged for the payment of the principal of and interest • on such bonds as the same respectively become due and payable. An annual appropriation shall be made in each year sufficient to pay the principal of and interest on such bonds becoming due and payable in such year. There shall annually be levied on all the taxable real property of said Village a tax sufficient to pay the principal of and interest on such bonds as the same become due and payable. Section 5. Subject to the provisions of the Local Finance Law, the power to authorize the issuance of and to sell bond anticipation notes in anticipation of the issuance and sale of the serial bonds herein authorized, including renewals of such notes, is hereby delegated to the Village Treasurer, the chief fiscal officer. Such notes shall be of such terms, form and contents, and shall be sold in such manner, as may be prescribed by said Village Treasurer, consistent with the provisions of the Local Finance Law. Section 6. The validity of such bonds may be contested only if: 1) Such bonds are authorized for an object or purpose for which said Village is not authorized to expend money, or 2) The provisions of law which should be complied with at the date of publication of this resolution are not substantially complied with, and an action, suit or proceeding contesting such validity is commenced within twenty days after the date of such publication , or • 3) Such bonds are authorized in violation of the provisions of the Constitution. Section 7. This resolution, which takes effect immediately, shall be published in full in The Ithaca Journal, the official newspaper together with a notice of the Village Clerk in substantially the form provided by Section 81.00 of the Local Finance Law. The question of the adoption of the foregoing resolution was duly put to a vote on roll call, which resulted as follows: Trustee Ronald E. Anderson voting yes Trustee Harold R. Fisher voting yes Trustee Mary T. Freeman voting yes Trustee Carl H. Nelson voting yes Trustee Rane F. Randolph voting yes The resolution was thereupon declared duly adopted. Is