HomeMy WebLinkAbout1965-04-07 1
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BOND RESOLUTION HP TAE TOWN BOARD OF THE
I TOWN OF ENFIELD, TOMPXINS Cotmyj NEW, YORK,
AUTBORIZING THE IMANCE OF A BOND OR BONDS
OP SAID TOWN'IN AN A14OUNT NOT IN EXCESS OF
$70000400 POR THE PURCHASE OF ONE (1) USED THREE-WHEEL
1.959 GALUOR ROLLER,
BE IT RESOLVED, this day of Apkil, 19650 by the Town Board of
the Town of Enfield, Tompkins County, Now York; as followst.
SECTION 1. For the object or purpoi+s of the purchase of one (1)
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1959 3-Whool Gallion Rollor, with specified equipment, for the use of the
said above-namod town; to provide funds to defray the cost thereof
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�74000400 of general obligations Serial bonds of said town, to be. of the
terms, form and contents substantiatily as hereinaftor provided shall be
issued pursuant to the provisions of the Local Finance Law of the State of
llew York.
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SECTION 2. Eight Thousand Five Hundred (,ts so0.00) Dollars is estimated
as the maximum cost of the object or purpose for which such serial bond or
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bonds are to be Issued, to Kit: the purchase of one (1) 1959 Used Three-
Nheel. Ganion Rol"lori with equipment as specified..
SECTION $. The plan for financing of such object or purpose., to Mitt
the purchase of said 6064 10t9 Three-Wheel Gallion Rollart with equipment
as specified, consists of the issuance of a Aerial bond or b6nd6 of said �
town in the principal sum of 01 000&00 and the remaining $1.500600 is to be
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paid from the town's Machinery Fund, thereby providing the principal *UA..
necessary for the purchase, said sum of �6,500.OGI being datarminad to be
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the maximum estimated cost of such object it purpose.
SECTION 40L It is determitted that the object or purpose for which such
serial bond or ba,4s aste-to be issued falls within Paragraph 28 of Section
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11 of the Local Finance Law relating to such items of highway equipment
{ and that the period of probable usefulness for said item is five (5) yoars.
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SECTION 5. It is hereby determined that the proposed maturity of
the obligation issued hereby ,shall not be in oxce-in of five: (5) years.
SECTION 6. That the said $70000,00 im serial bonds shall be of the
d*h6mination of $79000,00 dated 1965, nwrber*d 11111 and
maturing, in the #Mount of $1,400.00 of principal annually 'on the 15th.
dayof Februa in each of the Y'y years. 19E69 19670 19699 1969 and 1970
inclusivt; shall bear interest at a rate not exceeding (3%) per snnum,
payable tin., all unpaid balance* an the l5th day of February of each of said
years; that said bonds sht,11 be signed in the name of the town by the
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Su�?ervisaz� Qr the Town hoard, and attested by the Clerk of
said board of �
said town, and both principal of and interest ob said bonds shall be payable
in. l.acaful money of the United States of ,America at the office of the
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Umr:kinr County Trust Company* Ithaca$ Now York.
+ SECTION 76 That said bond shall expressly reserve the power in said
town on any interest date pr;or to final maturity to call in redeem, ou
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bond or any part, thereof upon the giving of ntAice for sucks call for
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redemption in uniting to the holder thereof at least 30 days prior to the
date set for such redemption, or incase of registered bond by mailing such
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!� notice to the registered holder of same at least thirty (30) days prior to
such date.
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fl SECTION S. 9hid serial bond or bonds shall be issued in substanti,silly
i the form attached hereto and made a part of this resolution.
SECTi N v f f i� 0 9. '�tci Supervisor o said Town of En field a hereby authorised
�I and directed to execute such bond or bonds on behalf of said town, and to
sell such bond or bonds at private sale as provided by law.
s' SEMOR 10. The full faith and credit of said Town of Enfield is
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j' hsrs,y ,pledged to the payw*nt of principal and interest on said bond or
bonds when, due, and an amouslt sufficient to pay the principal and interest
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as the same becomes due each year shall be included in the aAnual budget
I� of such town for the year.
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SECTION 11. This resolution shall take effect immediately. �
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I+ MABEL PURDY, the duly elected Town Clerk of the Town of Enf ie1 County of Ta ds
mpkins, State of now York, do her
cetify that the foregoin
is a true and exact co �
PY of a resolution
duly ad
opted by tha Town Board
Of the Town of Enfield on tho r.day of April, 1965, aad -t h
at said resolute
has not been rePcaled Or amended and is
still in full force and effect. Im
I do furtholl certify that this indsbtednos.2 together with all other
monies borrowed on bonds or revenue eht,#cipati� notes, or otherxise
not exceed the debt lio.it le K ally authorized for said town + does
of the State of New York,
under the statutes'
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I further oertt;Fy that Clair Updike tom
is the dulyel! scteA Supervisor
and Mabel Purdy , the elected town clerk of said s du1 Y
acting as such. s and are still
Subscribed and sown to before me this
day of April, 1965.
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Notary P 1 c
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