Loading...
HomeMy WebLinkAbout1966-07-06 BOND RESOLUTION 0, THE TOWN BOM OF THE TOWN OF ENFIELD, TORMNS, COUNTY# NEW YORK* AUTlIORIZING THE ISSUANCE OF A BOND OR BONDS OF SAID TOWN IN° AN AMOUNT NOT IK EXCESS OF $190800.00 FOR THE CONSTRUCTION OF A NEW TOWN HALL AND HIOHWAY BUILDING, BL IT RESOLVED,, thisg;th day of July.i 1966, by 'the. Town Board of the Town of Lifields Tompkins County, Now York, as follows: SECTION 1. For.the object or purpose of the construction of a now Town Hall and. Highway Buildingo as specified„ for t-he use of the said abore- naried town; to provide funds to defray the cost thereof $19,800.00 of,general obligation serial bonds► of said town, to be of the terms, fog and contents substantially as hereinafter provided shall be issued pursuant to the provision of the Local Finance Law of the State of. New Yorki, SECTION' 2. Twenty-two Thousand Four Hundred Thirty-five ($22,436.00) Dollars is estimated as the maximum cost of the objoet or purpose for which- such serial bond or bonds are to be. issued, to wit.: the construction of a new Town B411 and highway Duilding according to plans and specifications filed with the Town Clerk. SECTION 3. the plan for financi►.g w -h object or purpose, to wit: the construction of said. new Town Hall and Highway ,building, according to piano and specifications,* consist of the issuances of a serial bond or bonds of Said towm, in the principal sum of $1$e800.00 and the remaining. $2.,633.00 Fund is to be paid from the Townss-` d si . ctbPe,-/jhereby providing the principal sum necessary for the. said conatructionr said sure of $22,435.00 being determined to be the maximum estimated cost of such objoct or purpose. SECTION 4. It, is determined that the o�, jeot or purpose for which such serial bond or }ponds Joeto be issued falls within Paragraph 11 (b) of &eeti©n 11.,00 of the Local Finance Law relatitig to such.. construction of buildingsq and the period of probable usefulness for said .item is 20 years. a 'SECTION 5. It is hereby 9tft*Ified that the proposed maturity of the obligation issued horeby shall not be in excess of five (5) years. SECTION 6. That the said $19;000.00 in serial bonds shall be of the denomination. Of $19000.00 dated 1966, numbered"I" and maturing in the nmount of $3,,080.00 of principal awlually on the lot day of March in each of the years, 1967, 1968,i 1919, 1970 and 1971 inclusive; shall wear interest at a rate not exceeding (3%) per annue► Payable on all unpaid balances on the day of March of each of said years; that said bonds *hall be signed in the name of the tome by the Supervisor of the Town and attested by the Clerk of said board of said tow 04 and both principal of Y 11 und interest on said bonder shall be payable in lawful .coney of the United States of America at the office of the Tompki" C: ` ty Trutt Compaeiy, Ithaca, New York. SECTION 7. 'ihat said bond shall expressly ,reserve the power in said town on any interest dato prior to final maturity to call in and redeem sucih bond cr any part thereof Capon the givia* of notice for such call for redeeptio 1n writing to the holder thereof at least 30 da r prior to the date set for such redemption or in case of' registored band by maiUnX such notice to the registered holder of same at least thirty (XG) daps prior to such date. SECTION Si. Rai,* rial bond or bawds shall be issuedikubstantiatly the form attached hereto and made apart of this resolution. SECTION 9. The Suj>ervisor of sitid town of Enfield is hereby authorized dixd directed to execute such ,bond or bonds on behalf of slid towre and to sell such bond or bonds at private: sale as provided by law. SECTION 10. The fW,.1 faith and credit of slid Toren of Enfield is hereby pledged to the payment of principal and interest on said bond or bonds when due, and an amount sufficient to pay the principal and interest as the same becomes due each year shall be included In the annual budget of such town for the year. SECTION 11. This resolution shall take effect Immediately, y � 1 is Kable Purd,yt the duly elected Town Clerk of the Tow,, Of Enfield County of Tompkins, State of New York P ' � , cia hereby- certi is a true and exact copy of a resolufi'.ion duly ado fY that the foregoing y ptid by the Town Board of the Town of Enfield on the ,Uth day of July, 19669 and that said 9 resoluti o has not been repealed' or amended and is stile in full forte and effect; I do further certif3, that this indebtedness together with Ali other aroniea borrowed on bonds or rereriue anticipation notAs, or otherwi#ey does not mfteed the debt limit lE,gally authorized for said town under the statutes of the State of New York. I further certify that Clair Updike is the duly elected Supervisor and Kabel Purdy, the duly elected town clerk of said town., and are still Acting as such. Subscribed and sworn to before me this ,tL-_day of avly; .1266. rotary c MATNILDE Q. UPDIKE Netary Public;Stake of New Yp* No. 55-405570 Qualified in Tompkins Counj* Term Expire:March 30, l.9 - '