HomeMy WebLinkAboutBond Anticipation Note No. 2 1991COUNTY OF TOMPKINS
VILLAGE OF CAYUGA HEIGHTS
BOND ANTICIPATION NOTE NO. 2, 1991
NO. 2 $300,000.00
The Village of Cayuga Heights, in the County of Tompkins, a
municipality of the State of New York (herein called the "Obligor ")
hereby acknowledges itself indebted and for value received promises
to pay to the bearer of this note, or if it be registered, to the
registered holder, the sum of THREE HUNDRED THOUSAND DOLLARS
($300,000) on the 23rd day of December, 1991, together with
interest thereon from the date hereof at the rate of 5.75% per
annum, payable as follows: payable at maturity.
Both principal of and interest on this note will be paid in
so lawful money of the United States of America at Ithaca, New York.
This note may be redeemed prior to maturity, in which event
interest shall be due and paid up to the date of action redemption
and payment.
This note is. one of a total authorized issue of $400,000.00
issued pursuant to the provisions of a Bond Anticipation Note
Certificate dated April 5, 1991, of the Village Treasurer of the
Village of Cayuga Heights, Tompkins County, New York authorizing
issuance of a $100,000 bond anticipation note No. 1.1991 of said
Village in connection with the purchase of a fire truck for the
Village of Cayuga Heights and pursuant to the provisions of a
resolution duly adopted by the Village of Cayuga Heights entitled
"Resolution 4143 - AUTHORIZE ISSUANCE OF BOND ANTICIPATION NOTE N1,
1991" in which the Board of Trustees "voted to authorize the
Treasurer issue the BAN #1 of 1991 for one year in the amount of
$100,000.00 for purchase of a portion of the fire truck to be used
in the Village of Cayuga Heights, which resolution was duly adopted
by the Village Trustees on the 1st day of April, 1991, and which
resolution contained an authorization to the Village Treasurer to
issue and sell a bond anticipation note and renewals thereof and
issued pursuant to the provisions of a Bond Anticipation Note
Certificate dated Sept..6 , 1991, of the Village Treasurer of the
Village of Cayuga Heights, Tompkins County, New York authorizing
issuance of a $300,000 bond anticipation note No. 2 1991 of said
Village in connection with the purchase of a fire truck for the
Village of Cayuga Heights and pursuant to the provisions of a
resolution duly adopted by the Village of Cayuga Heights entitled
"Resolution 4282 - AUTHORIZE ISSUANCE OF BOND ANTICIPATION NOTE #2,
1991" in which the Board of Trustees "voted to authorize the
Treasurer to obtain a BAN in the amount of $300,000 for payment of
the new fire truck, with Tompkins County Trust Company, at a rate
not to exceed 6% and to run to December 22, 1991,11, which resolution
w4s duly adopted by the Village Trustees on the 7th day of August,
1991, and which resolution contained an authorization to the
Village Treasurer to issue and sell a bond anticipation note.
The faith and credit of the obligor are hereby irrevocably
pledged for the punctual payment of the principal of and interest
on this note according to its terms. ,
I hereby designate this note as a "qualified tax - exempt
obligation" pursuant to Section 265 (b)(3)(B)(ii) of the Internal
Revenue Code of 1986 (the "Code ") and certify, in furtherance of
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the aforesaid designation, that (a) the amount of "qualified tax -
exempt obligations," within the meaning of Section 265 (b)(3) of
the Code, which are reasonably anticipated to be issued by the
Village, including issues of all governmental entities subordinate
to the Village, if any, during 1991 does not exceed $10,000,000.00;
and (b) the sum of the principal amount of the note and the
principal amount of any other tax - exempt obligations heretofore
issued by the Village during 1991, do not exceed $10,000,000.00.
It is certified and recited that all conditions, acts and
things required by the Constitution and Statutes of the State of
New York, to exist, to have happened and 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
IL other indebtedness of the Obligor is within every debt and other
limit prescribed by the Constitution and laws of such State.
IN WITNESS WHEREOF, the Obligor, in accordance with the
proceedings authorizing this note, has caused this note to be
signed and its corporate seal to be hereunto affixed and attested
as appears below, and this note to be dated as of the 6th day of
September 1991.
VILLAGE OF CAYUGA HEIGHTS
TOMPKINS COUNTY, NEW-YORK
BY ,t
Rona d E. AhQLerson
Its Mayor
BY
Jeffrey Silber
Its Trea urer•
ATTEST:
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Anne M. Krohto
Village Clerk
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