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Wednesday, September 16, 1992 5:30 P.M.
PUBLIC HEARING
ADOPT LOCAL LAW NO. 2 OF 1992 - ELECTING A RETIREMENT
INCENTIVE PROGRAM
A Public Hearing was held at the Town Hall, 15
Terrace Road, Cortland, New York, on September 16, 1992
at 5:30 p.m. concerning Adopting Local Law No. 2 of 1992
Electing a Retirement Incentive Program for the Town of
Cortlandville Employees
Members present Supervisor, Raymond Thorpe
Councilman, Theodore Testa
Councilman, Edwin O'Donnell
Councilman, Donald Beard
Councilman, Ronal Rocco
Town Clerk, Pauline Parker
Others present were: Town Assessor, David Briggs;
Highway Superintendent, Carl Bush; Town Attorney, Philip
Rumsey; and Newsreporter, Jon Blackwell
The Public Hearing was called to order by
Supervisor, Raymond Thorpe at 5:30 p.m.
The Town Clerk read aloud the legal notice as
posted and filed.
Supervisor Thorpe stated that the State has made it
possible for eligible employees to retire early,if
approved by the governing board. The intent of this is
to replace highly paid employees with lower paid
employees, in advance of their regular retirement date
or to let an employee retire prior to their retirement
date and not fill the position.
The Town of Cortlandville has only one employee
eligible at this time. The eligible employee has not
requested the Town to adopt this, but she cannot obtain
information from the State unless we adopt the Local
Law.
This plan has nothing to do with Social Security.
The employer contribution to the retirement system for
the one employee would be 110 of the gross salary of the
employee.
No other comments or questions were heard.
Councilman Rocco made a motion, seconded by
Councilman O'Donnell, to close the Public Hearing. All
voting aye, the motion was carried.
The Public Hearing was closed at 5:35 p.m.
Wednesday, September 16, 1992 5:00 P.M.
TOWN BOARD MEETING
The Regular Meeting of the Town Board of the Town
of Cortlandville was held at the Town Hall, 15 Terrace
Road, Cortland, New York on September 16, 1992 at 5:00
p.m.
Members present: Supervisor, Raymond Thorpe
Councilman, Theodore Testa
Councilman, Edwin O'Donnell
Councilman, Donald Beard
Councilman, Ronal Rocco
Town Clerk, Pauline Parker
Others present were: Town Attorney, Philip Rumsey;
Town Assessor, David Briggs; Highway Supt', Carl Bush;
and Newsreporter, Jon Blackwell.
The Regular meeting was called to order by
Supervisor Raymond Thorpe at 5:00 p.m..
Councilman O'Donnell made a motion, seconded by
Councilman Beard, to approve, as written, the Town Board
Minutes of July 1, July 15, July 22, and July 29, 1992.
All voting aye, the motion was carried.
Councilman Beard made a motion, seconded by
Councilman O'Donnell, to receive and file the Planning
Board Minutes of June 30,1992 and July 21, 1992. All
voting aye, the motion was carried.
Councilman Testa made a motion, seconded by
Councilman Rocco, to receive and file the Zoning Board
of Appeals Minutes of August 25, 1992. All voting aye,
the motion was carried.
RESOLUTION #173 AUTHORIZE PAYMENT OF VOUCHERS
SEPTEMBER
Motion by Councilman O'Donnell
Seconded by Councilman Beard
VOTES: ALL AYE ADOPTED
BE IT
RESOLVED,
that
the
vouchers submitted have been
audited
and shall
be
paid
as follows:
General Fund A
Highway Fund A
Highway Fund B
Water Fund
Sewer Fund
Capital Projects
Vouchers #337-349
292-308
2
173-181
94- 97
62- 65
$ 8,254.67
$16,813.34
$58,122.50
$17,396.71
$ 132.82
$42,380.95
288
SEPTEMBER 16, 1992 PAGE 2
RESOLUTION #174 AUTHORIZE PAYMENT OF DELINQUENT
TAXES OF 1992 FOR TWO PARCELS IN THE
CEDAR CREST SUBDIVISION
Motion by Councilman Rocco
Seconded by Councilman Testa
VOTES: ALL AYE ADOPTED
WHEREAS, there were two parcels in the Cedar Crest
Subdivision, owned by John Murdock that were dedicated
and accepted by the Town of Cortlandville in January of
1991, and
WHEREAS, such deeds were not filed until after taxable
status date, causing the properties to be charged via
the tax collection process for School and Town and
County taxes, and
WHEREAS, a correction of errors was filed by the Town
Assessor, and reviewed by the County and denied the
exempt application, causing the bills due as issued,
therefore
BE IT RESOLVED, that the Town Board does hereby
authorize the payment of the delinquent taxes for
parcels #95.11-02-24.000 and 95.11-02-27.000.
The reports of various departments are on the table
for review, or available upon request in the Town
Clerk's office.
RESOLUTION #175 ACKNOWLEDGE AUTHORIZATION FROM THE
STATE COMPTROLLER FOR THE LAMONT
CIRCLE SANITARY SEWER IMPROVEMENT
PROJECT
Motion by Councilman Testa
Seconded by Councilman O'Donnell
VOTES: ALL AYE ADOPTED
BE IT RESOLVED, that the Town Board does hereby
acknowledge the notification from the State Comptroller
for permission to proceed with the Lamont Circle
Sanitary Sewer Improvement Project, and such shall be
received and filed.
RESOLUTION #176 ACKNOWLEDGE NOTICE OF CLAIM OF
DONALD C. AND JILL McCORMICK
Motion by Councilman Rocco
Seconded by Councilman O'Donnell
VOTES: ALL AYE ADOPTED
BE IT RESOLVED, that the Town Board does hereby
acknowledge receiving the Notice of Claim of Donald C.
and Jill McCormick, Blodgett Mills, NY against the Town
of Cortlandville, which occurred on July 17, 1992, in
Blodgett Mills, NY.
Councilman O'Donnell made a motion, seconded by
Councilman Testa, to receive and file a notice to renew
a liquor license at the Coach Lite Family Restaurant,
located on Rt. 281, Cortland, NY. All voting aye, the
motion was carried.
SEPTEMBER 16, 1992
PAGE 3
Councilman Testa made a motion, seconded by
Councilman O'Donnell, to receive and file a notice to
renew a liquor license at the Golden Lunch Restaurant,
located at 3590 West Road, Cortland, NY. All voting
aye, the motion was carried.
RESOLUTION #177 AUTHORIZE NAMING THE NEW WELL TO
HONOR THE GUNZENHAUSER FAMILY
Motion by Councilman O'Donnell
Seconded by Councilman Beard
VOTES: ALL AYE ADOPTED
WHEREAS, the land on Lime Hollow Road was owned by the
Gunzenhausers and sold to the Town at a minimum cost
when it was determined that the location would provide a
much needed .service to the community, and
WHEREAS, Joe Gunzenhauser and Benny Gunzenhauser,
members of their family, have given their time and
expertise to the Town and community service, therefore
BE IT RESOLVED, that the Town Board does hereby
authorize dedicating the Lime Hollow Well to honor the
Gunzenhauzer family, and a plaque shall be permanently
affixed there.
RESOLUTION #178 AUTHORIZE NAMING THE NEW WATER TANK
ON BLUE CREEK ROAD TO HONOR THE
ACCOMPLISHMENTS OF MELVIN H PIERCE
Motion by Councilman O'Donnell
Seconded by Councilman Beard
VOTES: ALL AYE ADOPTED
WHEREAS, Mr. Melvin H. Pierce served as a Town
Councilman, and as Town Supervisor for many years, and
has resigned for health reasons, and
WHEREAS, Mr. Pierce was responsible for the development
of a new well for the Town and also a new water tank to
service the needs of the residents of the Town of
Cortlandville, therefore
BE IT RESOLVED, that upon completion of the new water
tank located on the Blue Creek Road, the Town Board does
hereby honor the accomplishments of Melvin H. Pierce and
shall name the tank in his honor, and
RESOLVED, that a plaque shall be permanently affixed at
the water tank.
RESOLUTION #179 SET DATE FOR A SPECIAL MEETING
TO DISTRIBUTE THE 1993
TENTATIVE BUDGET
Motion by Councilman Beard
Seconded by Councilman O'Donnell
VOTES: ALL AYE ADOPTED
BE IT RESOLVED, that a special meeting shall be held
October 5, 1992 at 5:00 p.m. for distribution of the
1993 Tentative Budget to the Town Board.
25��
SEPTEMBER 16, 1992 PAGE 4
RESOLUTION #180 SET DATE FOR A PUBLIC HEARING FOR
THE 1993 TOWN BUDGET
Motion by Councilman O'Donnell
Seconded by Councilman Rocco
VOTES: ALL AYE ADOPTED
BE IT RESOLVED, that a Public Hearing shall be held by
the Town Board on November 4, 1992 at 7:30 p.m.
regarding the 1993 Budget of the Town of Cortlandville.
RESOLUTION #181 SET DATE TO ADOPT THE 1993 BUDGET
FOR NOVEMBER 18, 1992
Motion by Councilman Beard
Seconded by Councilman Rocco
VOTES: ALL AYE ADOPTED
BE IT RESOLVED, that the Town Board shall adopt the 1993
Budget for the Town of Cortlandville on November 18,
1992 at their regular scheduled Town Board Meeting.
RESOLUTION #182 AUTHORIZE BUDGET TRANSFER FOR
CAPITAL PROJECT
Motion
by Councilman O'Donnell
Seconded
VOTES:
by Councilman Beard
ALL AYE ADOPTED
BE IT RESOLVED,
that
the Budget Officer is hereby
authorized to
transfer
$12,556.58 from the Water Fund
Surplus into
the Water
Capital Project, Blue Creek Water
Storage Tank,
which
has exceeded the maximum amount
authorized.
RESOLUTION #183 AUTHORIZE HIGHWAY SUP'T. TO
RENT EQUIPMENT AND COST SHALL NOT
EXCEED STATE RATES
Motion by Councilman Rocco
Seconded by Councilman O'Donnell
VOTES: ALL AYE ADOPTED
BE IT RESOLVED, the Highway Superintendent, Carl Bush,
is hereby authorized to rent equipment, as necessary, to
accomplish Town Projects, and
RESOLVED, that the cost of rental of such equipment
shall not exceed the State rate schedule.
RESOLUTION #184 AUTHORIZE HIGHWAY SUP'T. TO SELL
A 1978 CHEVY 1-TON DUMP TRUCK AND A
1975 TROJAN LOADER
Motion by Councilman O'Donnell
Seconded by Councilman Beard
VOTES: ALL AYE ADOPTED
WHEREAS, the Highway Department has updated their trucks
and need to dispose of the obsolete trucks,therefore
BE IT RESOLVED, that the Highway Superintendent is
hereby authorized to sell, at a public auction in
Lansing, New York, a 1978 Chevy 1-Ton Dump Truck and
1975 Trojan Loader.
219
SEPTEMBER 16, 1992 PAGE 5
RESOLUTION #185 AUTHORIZE SUPERVISOR TO GO TO
ALBANY TO MEET WITH STATE DOT ON
TRAFFIC LIGHT ON LUKER ROAD AND TO
LOWER SPEED LIMIT ON ABDALLAH AVENUE
AND LEVYDALE AVENUE
Motion by Councilman Rocco
Seconded by Councilman O'Donnell
VOTES: ALL AYE ADOPTED
WHEREAS, this Town Board has requested, several times,
of the State DOT to install a traffic light at the
intersection of Luker Road and NYS 281 because of the
accidents and the problems that occur at the
intersection, to no avail, and
WHEREAS, this Town Board has requested, several times,
lowering of speed limits of the roads in the Town, and
have not succeeded, and
WHEREAS, residents of Abdallah and Levydale are asking
for the speed limit be reduced in their area as cars
are using these streets for a short cut from Tompkins
St. to Starr Rd., and
WHEREAS, Supervisor Thorpe has requested permission to
go to Albany, New York with maps in hand of the
effected areas, to the State Department of
Transportation to speak directly to the person in
charge of reviewing these petitions, therefore
BE IT RESOLVED, that the Town Board does hereby
authorize Supervisor Thorpe to go to Albany to discuss
our concerns with the NYS DOT, New York State Department
of Transportation.
Councilman O'Donnell made a motion, seconded by
Councilman Rocco, to recess the Regular Meeting to hold
a Public Hearing concerning Local Law No. 2 of 1992 for
electing a retirement incentive program for Town
employees. All voting aye, the motion was carried.
Councilman O'Donnell made a motion, seconded by
Councilman Teta, to reconvene the Regular Meeting. All
voting aye, the motion was carried
RESOLUTION #186 ADOPT LOCAL LAW NO. 2 OF 1992
ELECTING A RETIREMENT INCENTIVE
PROGRAM
Motion by Councilman Rocco
Seconded by Councilman O'Donnell
VOTES: ALL AYE ADOPTED
BE IT ENACTED, by -the Town Board of the Town of
Cortlandville as follows:
SECTION 1. The Town of Cortlandville hereby elects
to provide all its eligible employees with a retirement
incentive program authorized by Chapter 643, Law of
1992.
SECTION 2. The commencement date of the retirement
incentive program shall be October 1, 1992.
SECTION 3. The open period during which eligible
employees may retire and receive the additional
retirement benefit, shall be ninety (90) days in length.
291
SEPTEMBER 16, 1992 PAGE 6
SECTION 4. The actuarial present value of the
additional retirement benefits payable pursuant to the
provisions of this local law shall be funded over a
five-year period. The amount of the annual payment in
each of the five years shall be determined by the
Actuary of the New York State and Local Employees
Retirement System, and it shall be paid by the Town of
Cortlandville for each employee who receives the
retirement benefits payable under this local law, and
SECTION 5. This act shall take effect upon filing
with the State of New York
RESOLUTION #187 AUTHORIZE PURCHASE OF LAND ON HOBART
HILL ROAD FOR HIGHWAY CONSTRUCTION
PURPOSES
Motion By Councilman Rocco
Seconded by Councilman Beard
VOTES: ALL AYE ADOPTED
BE IT RESOLVED, that subject to the approval of the Town
Attorney, the Town of Cortlandville acquire 0.032+ acre
of land on Hobart Hill Road for highway construction
purposes at a maximum purchase price of $100.00 plus
reasonable and necessary related expenses for the
acquisition, and be it further
RESOLVED, that this resolution is adopted subject to a
permissive referendum
RESOLUTION #188 AUTHORIZE PURCHASE OF LAND ON
HOBART HILL ROAD FOR HIGHWAY
CONSTRUCTION PURPOSES
Motion by Councilman Rocco
Seconded by Councilman O'Donnell
VOTES: ALL AYE ADOPTED
BE IT RESOLVED, that subject to the approval of the Town
Attorney, the Town of Cortlandville acquire 1.46+ acre
of land on the Hobart Hill Road for highway construction
purposes at a maximum purchase price of $3,750.00 plus
reasonable and necessary related expenses for the
acquisition, and be it further
RESOLVED, that this resolution is adopted subject to a
permissive referendum
RESOLUTION #189 AUTHORIZING THE ISSUANCE OF
$60,000.00 SERIAL BONDS OF THE TOWN
OF CORTLANDVILLE, CORTLAND COUNTY,
NEW YORK, TO PAY THE COST OF THE
CONSTRUCTION OF SEWER LINES FOR THE
CORTLANDVILLE FIRE STATION SANITARY
SEWER IMPROVEMENT
Motion by Councilman Rocco
Seconded by Councilman O'Donnell
VOTES: ALL AYE ADOPTED
WHEREAS, pursuant to proceedings heretofore had and
taken in accordance with the provisions of Article 12-C
of the Town Law, and more particularly an Order dated
June 3, 1992, the Town Board of the Town of
Cortlandville, Cortland County, New York, has
established a sewer improvement know as the
Cortlandville Fire Station Sanitary Sewer Improvement;
and
1
1
1
293
SEPTEMBER 16, 1992 PAGE 7
WHEREAS, it is now desired to authorize the issuance of
$60,000.00 serial bonds of said Town to pay the cost of
sewer improvement therefor; and
WHEREAS, all conditions precedent to the financing of
such capital project, including compliance with the
provisions of the State Environmental Quality Review
Act, have been performed; now
THEREFORE BE IT RESOLVED, by the Town Board of the Town
of Cortlandville, Cortland County, New York, as follows:
Section 1. For the specific object or purpose
of paying the cost of the extension of sewer lines from
the area of North Lamont Circle to the Cortlandville
Fire Station, to include approximately 800 feet of sewer
pipe, for the Cortlandville Fire Station Sanitary Sewer
Improvement of said Town, there are hereby authorized to
be issued $60,000.00 serial bonds of the Town of
Cortlandville, Cortland County, New York, pursuant to
the provisions of the Local Finance Law.
Section 2. It is hereby determined that the
maximum estimated cost of such specific object or
purpose is $60,000.00 and that the plan for the
financing thereof shall consist of the issuance of the
$60,000.00 serial bonds of said Town authorized to be
issued pursuant to this bond resolution. Further
details concerning said bonds will be prescribed in a
further resolution or resolutions of this Town Board.
Section 3. It is hereby determined that the
period of probable usefulness of the aforesaid specific
object or purpose is forty years, pursuant to
subdivision 4 of paragraph a of Section 11.00 of the
Local Finance Law. It is hereby further determined that
the maximum maturity of the serial bonds herein
authorized will exceed five years.
Section 4. 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 serial bonds herein
authorized, including renewals of such notes, is hereby
delegated to the Supervisor, 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 Supervisor, consistent with the provisions of
the Local Finance Law.
Section 5. The faith and credit of said Town of
Cortlandville, Cortland County, New York, are hereby
irrevocably pledged to 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 obligations becoming due and
payable in such year.
Section 6. The validity of such bonds and bond
anticipation notes may be contested only if:
1) Such obligations are authorized for an object
or purpose for which said Town 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
294
SEPTEMBER 16, 1992 PAGE 8
3) Such obligations 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 Cortland
Standard, the official newspaper, together with a notice
of the Town Clerk in substantially the form provided in
Section 81.00 of the Local Finance Law.
RESOLUTION #190 AUTHORIZING THE ISSUANCE OF
$100,000.00 SERIAL BONDS OF THE TOWN
OF CORTLANDVILLE, CORTLAND COUNTY,
NEW YORK, TO PAY COST OF THE
CONSTRUCTION OF THE WEST ROAD
SANITARY SEWER IMPROVEMENT PROJECT
(PHASE I) OF SAID TOWN
Motion by Councilman Testa
Seconded by Councilman O'Donnell
VOTES: ALL AYE ADOPTED
WHEREAS, pursuant to proceedings heretofore had and
taken in accordance with the provisions of Article 12-C
of the Town Law, and more particularly a resolution
dated July 1., 1992, the Town Board of the Town of
Cortlandville, Cortland County, New York, has
established the West Road Sanitary Sewer Improvement
Project (Phase I); and
WHEREAS, it is now desired to authorize the issuance of
$120,000 serial bonds of said Town to pay the cost of
the construction of the West Road Sanitary Sewer
Improvement Project (Phase I); and
WHEREAS, all conditions precedent to the financing of
such capital project, including compliance with the
provisions of the State Environmental Quality Review
Act, have been performed; now
THEREFORE, BE IT RESOLVED, by the Town Board of the Town
of Cortlandville, Cortland County, New York, as follows:
Section 1. For the specific object or purpose
of paying the cost of the construction of the West Road
Sanitary Sewer Improvement Project (Phase I), consisting
of approximately 2,300 feet of new sanitary sewer line
in the area of the west side of West Road (NYS Route
281) and generally between the Cortland City streets of
West Main and Madison, including incidental improvements
and expenses in connection therewith, at a maximum
estimated cost of $120,000, there are hereby authorized
to be issued $120,000 serial bonds of said Town of
Cortlandville, Cortland County, New York, pursuant to
the provisions of the Local Finance Law.
Section 2. It is hereby determined that the
maximum estimated cost of such specific object or
purpose is $120,000 and that the plan for the financing
thereof shall consist of the issuance of the $120,000,
serial bonds of said Town authorized to be issued
pursuant to this bond resolution.
Section 3. It is hereby determined that the
period of probable usefulness of the aforesaid specific
object or purpose is forty years, pursuant to
subdivision 4 of paragraph a of Section 11.00 of the
Local Finance Law. It is hereby further determined that
the maximum maturity of the serial bonds herein
authorized will exceed five years.
295
SEPTEMBER 16, 1992 PAGE 9
Section 4. Subject to the provisions of the
Local Finance Lava, 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 Supervisor, 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 Supervisor; consistent with the provisions of
the Local Finance Law.
Section 5. The faith and credit of said Town of
Cortlandville, Cortland County, New York, are hereby
irrevocably pledged to the payment of the principal of
and interest on such bonds as the same respectively
become due and payable. There shall be annually
apportioned and assessed upon the several lots and
parcels of land within said West Road Sanitary Sewer
Improvement Protect (Phase I) Area which the Town Board
shall determine and specify to be especially benefited
by the improvements, an amount sufficient to pay the
principal and interest on said bonds as the same become
due, but if not paid from such source, all the taxable
real property in said Town shall be subject to the levy
of ad valorem taxes without limitation as to rate or
amount sufficient to pay the principal of and interest
on said bonds as the same shall become due.
Section 6. Such bonds shall be in fully
registered form and shall be signed in the name of the
Town of Cortlandville, Cortland County, New York, by the
manual or facsimile signature of the Supervisor and a
facsimile of its corporate seal shall be imprinted or
impressed thereon and attested by the manual or
facsimile signature of the Town Clerk.
Section 7. The powers and duties of advertising
such bonds for sale, conducting the sale and awarding
the bonds, are hereby delegated to the Supervisor, who
shall advertise such bonds for sale, conduct the sale,
and award the bonds in such manner as he or she shall
deem best for the interests of the Town; provided,
however, that in the exercise of these delegated
powers, he or she shall comply fully with the provisions
of the Local Finance Law and any order or rule of the
State Comptroller applicable to the sale of municipal
bonds. The receipt of the Supervisor shall be full
acquittance to the purchaser of such bonds, who shall
not be obliged to see to the application of the purchase
money
Section 8. All other matters, except as
provided herein relating to such bonds, including
prescribing whether manual or facsimile signatures shall
appear on said bonds, prescribing the method for the
recording of ownership of said bonds, appointing the
fiscal agent or agents for said bonds, providing for
the printing and delivery of said bonds (and if said
bonds are to be executed in the name of the Town by the
facsimile signature of its Supervisor, providing for the
manual countersignature of a fiscal agent or of a
designated official of the Town), the date,
denominations, maturities and interest payment dates,
place or places of payment, and also including the
consolidation with other issues, shall be determined by
the Supervisor. It is hereby determined that it is to
the financial advantage of the Town not to impose and
collect from registered owners of such serial bonds any
charges for mailing, shipping and insuring bonds
transferred or exchanged by the fiscal agent, and,
accordingly, pursuant to paragraph c of Section 70.00 of
296
SEPTEMBER 16, 1992 PAGE 10
the Local Finance Law, no such charges shall be so
collected by the fiscal agent. Such bonds shall contain
substantially the recital of validity clause provided
for in section 52.00 of the Local Finance Law and shall
otherwise be in such form and contain such recitals in
addition to those required by section 52.00 of the Local
Finance Law, as the Supervisor shall determine.
Section 9. This resolution shall constitute a
statement of official intent for purposes of Treasury
Regulations Section 1.103 - 18(f). Other than specified
in this resolution, no monies are, or are reasonably
expected to be, reserved, allocated on a long-term
basis, or otherwise set aside with respect to the
permanent funding of the object or purpose described
herein.
Section 10. The validity of such bonds and bond
anticipation notes may be contested only if:
1) Such obligations are authorized for an object
or purpose for which said Town 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 obligations are authorized in violation
of -the provisions of the Constitution.
Section 11. This resolution, which takes effect
immediately, shall be published in full in the Cortland
Standard, the official newspaper, together with a notice
of the Town Clerk in substantially the form provided in
Section 81.00 of the Local Finance Law.
RESOLUTION #191 AUTHORIZING THE ISSUANCE OF
$100,000, SERIAL BONDS OF THE TOWN
OF CORTLANDVILLE, CORTLAND COUNTY,
NEW YORK TO PAY COST OF THE
CONSTRUCTION OF THE WEST ROAD WATER
IMPROVEMENT PROJECT (PHASE I) OF
SAID TOWN
Motion by Councilman Rocco
Seconded by Councilman O'Donnell
VOTES: ALL AYE ADOPTED
WHEREAS, pursuant to proceedings heretofore had and
taken in accordance with the provisions of Article 12-C
of the Town Law, and more particularly a resolution
dated July 1, 1992 the Town Board of the Town of
Cortlandville, Cortland County, New York, has
established the West Road Water Improvement Project
(Phase I); and
WHEREAS, it is now desired to authorize the issuance of
$100,000, serial bonds of said Town to pay the cost of
the construction of the West Road Water Improvement
Project (Phase I); and
WHEREAS, all conditions precedent to the financing of
such capital project, including compliance with the
provisions of the State Environmental Quality Review
Act, have been performed; now
29`l
SEPTEMBER 16, 1992 PAGE 11
THEREFORE, BE IT RESOLVED, by the Town Board of the Town
of Cortlandville, Cortland County, New York, as follows:
Section 1. For the specific object or purpose
of paying the cost of the construction of the West Road
Water Improvement Project (Phase I), consisting of
approximately 1,400 feet of new water line in the area
of the west side of West Road (NYS Route 281) and
generally between the Cortland City streets of Madison
and Rob Roy, including incidental improvements and
expenses in connection therewith, at maximum estimated
cost of $100,000, there are hereby authorized to be
issued $100,000, serial bonds of the Town of
Cortlandville, Cortland County, New York, pursuant to
the provisions of the Local Finance Law.
Section 2. It is hereby determined that the
maximum estimated cost of such specific object or
purpose is $100,000, and that the plan for the financing
thereof shall consist of the issuance of the $100,000
serial bonds of said Town authorized to be issued
pursuant to this bond resolution.
Section 3. It is hereby determined that the
period of probable usefulness of the aforesaid specific
object or purpose is forty years, pursuant to
subdivision 1 of paragraph a of Section 11.00 of the
Local Finance Law. It is hereby further determined that
the maximum maturity of the seri."al bonds herein
authorized will exceed five years.
Section 4._ 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 Supervisor, the chief fiscal officer.
Such notes shall be of such terms, form and contests,
and shall be sold in such manner, as may be prescribed
by said Supervisor, consistent with provisions of the
Local Finance Law.
Section 5. The faith and credit of said Town of
Cortlandville, Cortland County, New York, are hereby
irrevocably pledged to the payment of the principal of
and interest on such bonds as the same respectively
become due and payable. There shall be annually
apportioned and assessed upon several lots and parcels
of land within said West Road Water Improvement Project -
(Phase I) Area which the Town Board shall determine and
specify to be especially benefited by the improvements,
an amount sufficient to pay the principal and interest
on said bonds as the same become due, but if not paid
from such source, all the taxable real property in said
Town shall be subject to the levy of an valorem taxes
without limitation as to rate or amount sufficient to
pay the principal of and interest on said bonds as the
same shall become due.
Section 6. Such bonds shall be in fully
registered form and shall be signed in the name of the
Town of Cortlandville, Cortland County, New York, by the
manual or facsimile signature of the Supervisor and
facsimile of its corporate seal shall be imprinted or
impressed thereon and attested by the manual or
facsimile signature of the Town Clerk.
Section 7. The powers and duties of advertising
such bonds for sale, conducting the sale and awarding
the bond, are hereby delegated to the Supervisor, who
shall. advertise such bonds for sale, conduct the sale,
and award the bonds in such manner as he or she shall
298
SEPTEMBER 16, 1992 PAGE 12
deem best for the interests of the Town; provided
however, that in the exercise of these delegated powers,
he or she shall comply fully with the provisions of the
Local Finance Law and any order or rule of the State
Comptroller applicable to the sale of the municipal
bonds. the receipt of the Supervisor shall be a full
acquittance to the purchaser of such bonds, who shall
not be obligated to see to the application of the
purchase money.
Section 8. All other matters, except as
provided herein relating to such bonds, including
prescribing whether manual or facsimile signatures shall
appear on said bonds, prescribing the method for the
recording of ownership of said bonds, appointing the
fiscal agent or agents for said bonds, providing for the
printing and delivery of said bonds (and if said bonds
are to be executed in the name of the Town by the
facsimile signature of its Supervisor, providing for the
manual countersignature of a fiscal agent or of a
designated official of the Town), the date
denominations, maturities and interest payment dates,
place or places of payment, and also including the
consolidation with other issues, shall be determined by
the Supervisor. It is hereby determined that it is to
the financial advantage of the Town not to impose and
collect from registered owners of such serial bonds any
charges for mailing, shipping and insuring bonds
transferred or exchanged by the fiscal agent, and,
accordingly, pursuant to paragraph c of Section 70.00 of
the Local Finance Law, no such charges shall be so
collected by the fiscal agent. Such bonds shall contain
substantially the recital of validity clause provided
for in section 52.00 of the Local Finance Law and shall
otherwise be in such form and contain such recitals in
addition to those required by section 52.00 of the Local
Finance Law, as the Supervisor shall determine.
Section 9. This resolution shall constitute a
statement of official intent for purpose of Treasury
Regulations Section 1.103 - 18(f). Other than as
specified in this resolution, no monies are, or are
reasonably expected to be, reserved, allocated on a
long-term basis, or otherwise set aside with respect to
the permanent funding of the object or purpose described
herein.
Section 10. The validity of such bonds and bond
anticipation notes may be contested only if:
1) Such obligations are authorized for an object
or purpose for which said Town 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 obligations are authorized in violation
of the provisions of the Constitution.
Section 11. This resolution, which takes effect
immediately, shall be published in full in the Cortland
Standard, the official newspaper, together with a notice
of the Town Clerk in substantially the form provided in
Section 81.00 of the Local Finance Law.
SEPTEMBER 16, 1992 PAGE 13
Attorney Rumsey reported that he has just renewed
the BAN for the Water Tank at. a very low interest rate.
It will be necessary to bond these many projects soon.
Because the interest rates are at an all time low, it
would be very beneficial to the Town to consolidate
these new projects, as we did last time.
Councilman Rocco reported that he had received a
call from a resident of Bell Drive concerning the
drainage problem there. Councilman Rocco feels that
installing a drywell may be able to alleviate some of
the problem.
Councilman O'Donnell made a motion, seconded by
Councilman Testa, to recess the meeting and convene to a
Executive Session to discuss pending litigation. All
voting aye, the motion was carried.
The following was received from the Supervisors
Office:
Councilman O'Donnell made a motion, seconded by
Councilman Rocco to adjourn the Executive Session and
reconvene to the Regular Meeting. All voting aye, the
motion was carried.
No action was taken.
Councilman O'Donnell made a motion, seconded by
Councilman Rocco to adjourn the Regular Meeting.
The Meeting was adjourned at 6:21 p.m.
Respectfully,'submitted,
Pauline H. Parker, CMC
Town Clerk
Town of Cortlandville
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