HomeMy WebLinkAbout2022-01-06 Bonding Resolution $2,000,000 Gutchess ParkTOWN OF CORTLANDVILLE
LEGAL NOTICE
The resolution, a summary of which is published herewith, has been adopted on January 5, 2022
and the validity of the obligations authorized by such resolution may be hereafter contested only
if such obligations were authorized for an object or purpose for which the Town of Cortlandville,
in the County of Cortland, New York, is not authorized to expend money or if the provisions of
law which should have been complied with as of the date of publication of this Notice were not
substantially complied with, and an action, suit or proceeding contesting such validity is
commenced within twenty days after the publication of this Notice, or such obligations were
authorized in violation of the provisions of the constitution.
KRISTIN E. ROCCO-PETRELLA
Town Clerk
BOND RESOLUTION OF THE TOWN OF CORTLANDVILLE,
NEW YORK, ADOPTED JANUARY 5, 2022, AUTHORIZING
THE CONSTRUCTION OF IMPROVEMENTS AT GUTCHESS
LUMBER SPORTS COMPLEX, STATING THE ESTIMATED
MAXIMUM COST THEREOF IS $2,000,000,
APPROPRIATING SAID AMOUNT FOR SUCH PURPOSE,
AND AUTHORIZING THE ISSUANCE OF BONDS IN THE
PRINCIPAL AMOUNT OF $2,000,000 TO FINANCE SAID
APPROPRIATION
The object or purpose for which the bonds are authorized is the construction of improvements at
Gutchess Park consisting of the construction of two baseball fields, the reconstruction and
expansion of an existing parking lot and the construction of a concession building, at the estimated
cost of $2,000,000.
The maximum amount of obligations authorized to be issued is $2,000,000.
The period of probable usefulness applicable to the object or purpose for which said bonds are
authorized to be issued is fifteen (15) years; however, the bonds authorized pursuant to this
resolution and any bond anticipation notes issued in anticipation of the sale of said bonds, shall
mature no later than five (5) years after the date of original issuance of said bonds or notes.
A complete copy of the bond resolution summarized above shall be available for public inspection
during normal business hours at the office of the Town Clerk, at the Raymond G. Thorpe Municipal
Building, 3577 Terrace Road, Cortland, New York.
Dated: January 5, 2022