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Home My WebLink About1968-09-04i t September 4, 1968, 8 P.M. Regular meeting of the Town -board of the Town of Cortlandville held at the Town Hall on Terrace Road. Supervisor Frank K.Taylor presiding officer. Present were Justices Ronald Fish and Donald Eaton, Councilmen Henry Wadsworth and Sherman Griswold, also HGWY. Supt. Harry Cooper, Engineer Wm Rowell, Assessor W.E.Becker and Fred Walker from water department, Town Attorney John Gardner and Book-keeper for Supervisor Rudy Krauklis. Town Clerk read the minutes of the last meeting and they were approved. Motion was made by Mr. Eaton seconded by Mr. Wadsworth that any Town Official or representative of the Town be allowed necessary expenses to attend"Land Fill"meeting at Oneida, N.Y. on September 12, 1968. This motion was carried. 13S Motion was made by Mr. Wadsworth seconded by Mr. Fish that the Town Board authorize the Supervisor to declare September 17,68, as Citzens Day and the week of September 17th, 1968 as Consti- tution week. This motion was carried. Mr. and Mrs. Burrows -of West River Road ,Blodgett Mills area, appeared before the Board to register a complaint in regard to having their assessment raised. The assessor is going to review this property. *p3 Motion was made by Mr. Eaton seconded by Mr. Griswold that • Supervisor Taylor present the new zoning regulations and map to the County Planning Board for their decision. This motion was carried. 72 '#� 1-0 Motion was made by Mr. Griswold seconded by Mr. Eaton that the New Loader for the Highway Department be paid for when it has proved satisfactory. Resolution follows on next pages. Motion was made by Mr. Griswold seconded by Mr. Wadsworth that all bills as presented by the Town Clerk and audited by the • Town Board be paid as follows: General Fund $ 11o6.19 Water Dist. 2393.43 Sewer Dist. 85.67 Highway 35373.89 Motion carried. There being no further business at this time, meeting was adjourned. 4 Lelan M. Brookins, Town Clerk 0 1 73 1 • 1 • Councilman, Sherman Griswold On motion of . . . . . . . . . . . . . . . s . , seconded by Councilman, Henry Wadsworth . . . . . . . . . . . . . . . . . . . . . . . CAPITAL NOTE RESOLUTION DATED September 4, 1968 WHEREAS, The Town Board of the Town of Cortlandville, New Yo after due public notice by resolution duly adopted on the 7th day of August, 1968, authorized the Town Superintendent to purchase a four wheel drive tractor with front end loader for highway construe tion and maintenance at a total cost of Thirty-two Thousand Eight Hundred Seventy-three Dollars ($32,873•00), subject to the approvs of the County Superintendent of Highways and provided that Fifteen Thousand Dollars ($15,000.00) of such cost was to be paid from the proceeds of obligations to be issued pursuant to the Local Finance Law; and WHEREAS, A contract of purchase for such four wheel tractor with front end loader was thereafter entered into by the Town Supei intendent of Highways, which contract has been duly approved by County Superintendent of Highways: NOW, THEREFORE, BE IT RESOLVED: 1. That the specific object or purpose for which the obliga- tions are to be issued pursuant to this reolution is to finance cost of the purchase of a four wheel tractorkv-with front end loader 2. That the maximum cost of such four wheel tractor with end loader is Thirty-two Thousand Eight Hundred Seventy-three Dol ($32,873.00), and the plan of financing such cost is as follows: Current funds in the General Surplus in the amount of Nine IThousand Dollars (9,000.00), and current funds in the Highway Machinery Fund No. 3 in the amount of Eight Thousand Eight Hundred! Seventy-three Dollars ($8.�873.00). The balance of the cost is to be provided by the issuance of capital notes in the amount of Fif- teen Thousand Dollars pursuant to this resolution. 3• That the following determinations are hereby made: , rs im (a) The period of probable usefflness of such four wheel trac or with front end loader is -five (5) years. (b) The subdivision of paragraph (a) of Section 11 of the Lo al, Finance Law which is applicable in the circumstances is subdivision a (c) The proposed maturity of the obligations offered by this resolution will not be in excess of five (5) years. 4. That the Town of Cortlandville shall issue two capital notes In the aggregate amount of Fifteen -Thousand Dollars ($15,000.00) t finance such cost in accordance with the finance plan set forth ab ve. Such note shall be dated as of the approximate date of the deliver of the four wheel tractor with front end loader, and the power to tix and determine the exact date of such notes is hereby delegated to the Supervisor. 5. That such capital notes shall be numbered 1 and 2 and mature in numerical order in two equal installments in the .years, 1969 and 1970 respectively. The power to fix and determine the dates upon which such installments shall become due and payable is hereby delegated to the Supervisor. The notes shall be -issued in bearer form, shall not contain the power to convert to registered form and shall bear interest at the rate not exceeding three and one-half percentum WIS) per annum, payable annually. Such notes shall be in substantially the following forms UNITED STATES OF AMERICA State of New York No. 1 County of Cortlandn�„� Town of Cortlandville Capital Note of 1968 The Town of Cortlandville, in the County of Cortland, a munic pality of the State of New York, hereby acknowledges itself indebt d and for value received,promises to pay to the bearer of this note the slam of Seven Thousand Five Hundred Dollars 15th day of Februar ($7500.00), on the y. 1969, together with interest thereon from t date hereof at the rate of three and -one-half percentum h �ann, payable on the 1Y of F 5th day f32�) per February, 1969. and annually I� U • 1 Ll �J 1 • 1 thereafter on the 15th day of February from the date of this note until it matures, upon presentation of this note for notation of such interest payment thereon. Both principal of and interest on this note shall be paid in lawful money of the United States of America at the office of First National Bank of".Cortland, Cortland New York. This note may not be converted into a registered form. This note is one of an authorized issue, the aggregate princi pal amount of which is Fifteen Thousand Dollars ($15,000.00), the notes of which are of like tenure, except as to number, maturity and are issued pursuant to a resolution entitled V'aplhl NoU Reso lution" duly a dopted by the Town Board of such Town of Cortlandville on September 4, 1968. The faith and credit of such Town of Cortlandville are hereby irrevocably pledged for the punctual payment of principal and in est on this note according to its terms. It is hereby certified and recited that all conditions, acts things required by the Constitution and Statutes of the State of N York to exist, to have happened, or to have been performed precedent to and in the issuance of this note exist, have happened and have been performed and that this note, together with all other indebted- ness of such Town of Cortlandville, is within every dent and every limit prescribed by the Constitution and Laws of such State. IN WITNESS WHEREOF, The Town of Cortlandville in the County o Cortland, New York, has caused this note to be stned by its Super- visor and its corporate seal' to be hereunto affixed and attested b its Town Clerk and'this note to be dated as of the 12th day of Sep tember, 1968. (Town Seal) TOWN OF CORTLANDVILLE, CORTLAND COUNT,- t NEW YORK A BY• .�f • • • • • .: t•; ATTEST: Supervisor r- � I , 7 'Fd•� Town Clerk of the Town of Cortlandville, New York. a ��' ;. 6. The Supervisor is hereby delegated with power to prepare such notes and to sell such notes at private sale at not less than par and accrued interest and at such sale to fix the interest rate to be borne by such notes within the limitations set forth in this Resolution. the Supervisor shall deliver such notes to the purcha thereof only against cash or a certified check. The proceeds of t sale of the notes shall be deposted in a special bank account as required bySection 165.00 of the Local Finance Law. The powers delegated to the Supervisor by this Resolution shall be exercised conformity with the provisions of the Local Finance Law. 7. This Resolution shall take effect immediately. Upon the question of the adoption of the following Resolution the following each voted "Aye" in favor of the Resolution: Supervisor, Frank K. Taylor; Justice of the Peace, Donald F. Eaton; Justice of the Peace, Ronald Fish; Councilman, Sherman Gri wold; and Councilman, Henry Wadsworth. The Resolution having received at least a two-thirds vote of the members of the Town Board, it was declared by the Town Board duly adopted. er e 7 1 1