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HomeMy WebLinkAbout1968-05-02 9', TOWN OF DANBY SPECIAL TOWN BOARD MINUTES May 2 , 1968 A Special Meeting of the Danby Town Board was held in the West Danby Grange Hall , Thursday , May 2 , 1968 at 8 : 00 P . M . Board Members Present : Supervisor James H . Cortright , Justices Moses Peter , Floyd Dorn, and Councilmen: Donald Makie and Francis Wright . Also : Town Attorney Rih.hard Thaler and Bruce Osadchey of the Farmers Home Adm& nistration plus many townspeople . Supervisor Cortright called the meeting to order for the purpose of adopting the following resolutions by the Danby Town Board . These resolutions were drawn up by Attorney Thaler and attached hereto and made a part of these minutes . RESOLUTION NO . 7 BOND RESOLUTION OF THE TOWN OF DANBY , TOMPKINS COUNTY , NEW YORK , ADOPTED May 2 , " 1968 AUTHORIZING THE ISSUANCE OF SPECIAL OBLIGATION BONDS OF THE WEST DANBY WATER DISTRICT , TOWN OF DANBY , TOMPKINS COUNTY , NEW YORK , IN THE PRINCIPAL AMOUNT OF $ 123 , 000 . 00 for the PURPOSE OF PROVIDING FUNDS TO PURCHASE , CONSTRUCT AND PROVIDE A WATER WORKS SYSTEM FOR SAID DISTRICT AT AN ESTIMATED MAXIMUM COST THEREOF OF $ 217 , 000 . 00 . RESOLUTION NO . 8 RESOLUTION DETERMINING THE TERMS , FORM AND DETAILS OF ISSUANCE OF $ 94 , 000 . 00 WEST DANBY WATER DISTRICT SERIAL BONDS - 1968 of the TOWN OF DANBY IN THE COUNTY OF TOMPKINS , STATE OF NEW YORK , AND PRO_ VIDING FOR THEIR SALE AT PRIVATE SALE . Roads into Housing Developments - Highway Duperintendnt Chaffee presented to the Town Board , the following specifications for road building in the Town of Danby : tar road to carry 1 - 100 vehicles per day . Right of way width 50 feet with an 8 foot set back on all hedges , trees and fences . Travel width 28 feet including shoulders . Crown on road 1 /2 inch per foot for open gravel , 1 /4 inch per foot for permanent type surface . Gravel surface must be stabilized with salt and surface treated with calcium chloride . Adequate sluices for drainage . Stopping sight distance 300 feet . Maximum degree of curvature 8 ° . Maximum grade 7% . Maximum ditch grade and back slope 1 on 2 . If road dead ends , at least 100 feet . All road and turn around must be raised above surrounding land where practicable . 411 . Councilman Makie moved to accept the Highway Superintend - ent ' s recommendation of specifications for road building in the Town of Danby . Seconded by Peter . 5 ayes , 0 noes , carried . Supervisor Cortright will remain in office for the balance of his term . Clerk read a copy of the letter from Supervisor Cortright to Paul Smith , Chairman of the Town Republican Committee , that he has reconsidered his intent to resign , due to many requests by telephone , letter and personal contact from the people of the Town and the County , and will remain in office for the balance of the term . Discussion followed from people present regarding the West Danby Water District . 159 Meeting adjourned at 9 : 15 P . M . Supervisor Cortright called the meeting back to order at 10 : 00 P . M . for the purpose of adopting the following resolutions drawn up by Attorney Thaler : RESOLUTION NO . 9 • BE IT RESOLVED , that the Town Attorney is hereby authori - zed to indicate to the attorney for the Swartwood Estatetthat the Town will make a Town Road leading from New York State Route # 34 to the tank site and further that the Town will place said Road subi .ect to the engineer ' s final locating in a place which will make available the maximum amount for lot's of developments . Further , the Town Attorney is authorized to indicate to the attorney for the Swartwood Estate that the Swartwood Estate may retain their present well and land through which the pipe leads from their well to their buildings subject , however , tbethe easement of the road . The above resolution made by Moses Peter and seconded by Donald Makie and unanimously passed by said Town Board . Meeting adjourned at 10 : 30 P . M . Res ect ully subinitted , Dorothy Ro erts , Clerk 2 t j 1 " 1 i, TOWN BOARD TOWN OF DANBY Resolution No . 7 BOND RESOLUTION OF THE TOWN OF DANBY , TOMPKINS COUNTY , NEW YORK , ADOPTED MAY 2 , 1968 AUTHORIZING THE ISSUANCE OF SPECIAL OBLIGATION BONDS OF THE WEST DANBY WATER DISTRICT , TOWN OF DANBY , TOMPKINS COUNTY , NEW YORK , IN THE PRINCIPAL AMOUNT OF $ 123 , 000 . 00 FOR THE PURPOSE OF PROVIDING FUNDS TO PURCHASE , CONSTRUCT AND PROVIDE A WATER WORKS SYSTEM FOR SAID DISTRICT AT AN ESTIMATED MAXIMUM COST THEREOF OF $ 217 , 000 . 00 RECITAL WHEREAS , after a public hearing duly called and held on the 19th day of June , 1967 , the Town Board of the Town of Danby in the County of Tompkins , New York , hereinafter referred to as the " Town" , duly adopted a resolution and order determining that it i in the public interest to create the West Danby Water District in the Town , hereinafter referred to as the "District " , as herein - after described and ordering that a district be . established and ordering the construction of a water distribution system , the acquisition of interests in Land and easements and the establish - ment of the district at an estimated maximum cost of $ 217 , 000 . 00 ; and WHEREAS , the United States of America acting through the Farmers Home Administration , United States Department of Agri - culture pursuant to the Consolidated Farmers Home Administration Act of 1961 as amended ( 7 U . S . C . 1921 etc . ) has given a grant in aid to the Town in the amount of $ 94 , 000 . 00 for the use and benefit of establishing the District leaving an amount of $ 123 , 000 . 00 to be financed by the Town and it is now necessary and advisable to provide for the financing of this remaining balance thereof by the issuance of bonds , now therefore , be it RESOLVED BY THE. TOWN BOARD OF THE TOWN OF DANBY IN THE COUNTY OF TOMPKINS , STATE OF NEW YORK , ( by the favorable vote of not less than two - thirds of all the members of said Board ) AS FOLLOWS : SECTION 1 . The Town hereby appropriates the amount of THALER & THALER ORNEYSBCOUNSELLORS $ 123 , 000 . 00 for the creation of the District and its establish - 9 NORTH TIOGA STREET ITHACA, NEW YORK - 2 - ment , for the construction of the water distribution system , the acquisition of interests in land and easements and improvements in connection therewith in the District , pursuant to the plans and specifications heretofore prepared by the Standard E ngineerin Corporation of Albany , New York , consulting engineers , and hereby approved and all as hereinabove referred to in the Recitals hereof . The estimated maximum cost of said specific object or purpose , including preliminary costs and costs incidental thereto and the financing thereof after deduction of the grant in aid is $ 123 , 000 . 00 and the plan of financing is the issuance of serial bonds of the Town in the principal amount of $ 123 , 000 . 00 and the assessment , levy and collection of assessment in the nature of a water charge , hydrant rental charge and /or ad -valorem tax on the several lots and parcels of land within the District to pay the principal of and the interest on the bonds in the same manner and at the same time as other Town charges . SECTION 2 . Serial bonds of the Town are hereby authorized t • be issued in the principal amount of $ 123 , 000 . 00 pursuant to the provisions of the Local Finance Law and of the Consolidated Laws o f the State of New York , to . finance said appropriation . SECTION 3 . The following additional matters are hereby determined and declared .: ( a ) The period of probable usefulness of the specific o bject or purpose for which the bonds authorized pursuant to this ✓ esolution are to be issued within the limitations of § 11 . 00 a . 1 o f said Local Finance Law , is forty ( 40 ) years . ( b ) Current funds are not required by said Law to be provided prior to the issuance of the bonds authorized by this resolution , or any notes issued in anticipation thereof . ( c ) . The proposed maturity of the bonds authorized by this resolution may exceed five ( 5 ) years . SECTION 4 . Each of the bonds authorized by this resolution THALER & THALER and any notes issued in anticipation thereof , shall contain the rORNEYSB COUNSELLORS )9 NORTH T1OGA STREET ITHACA, NEW YORK - - 3 ✓ ecital of validity prescribed by § 52 . 00 of said Local Finance Law and said bonds and any notes issued in anticipation of said bonds , shall be general obligations of the Town , payable as to both principal and interest by a general tax upon all the taxable ✓ eal property within the Town without limitation as to rate or amount . The faith and credit of the Town are hereby irrevocably pledged to the punctual payment of the principal of and interest o n said bonds and provision shall be made annually in the budget o f . the Town by . appropriation for ( a ) the amortization and re - demption of the bonds to mature in such year and ( b ) the payment o f interest to be due and ' payable in such year . SECTION 5 . Subject to the provisions of this resolution and of said Local Finance Law , and pursuant to the provisions of § 30 . 00 - . ofsaid Law relative to the authorization of the issuance o f bond anticipation notes and of § 50 . 00 and § § 56 , 00 to 60 . 00 of said Law , the powers and duties of the Town Board relative to prescribing the terms , forms and contents and as to the sale and issuance of the bonds herein authorized and any notes issued in anticipation thereof , or the renewals thereof , are hereby dele - gated to the Supervisor , the chief fiscal officer of the Town . SECTION 6 . The validity of the bonds authorized by this ✓ esolution and of any bond anticipation notes issued in antici - pation of said bonds , may be contested ' only if : ( a ) such obligations are authorized for an o bjector purpose for which the Town is not authorized to expend money , or ( b ) the provisions of law which thould . be complied with at the date of the publication o f such resolution , are not substantially complied with , and an action , suiVor proceeding contesting such validity , is commenced within twenty days after the date of such publication , or . ( c ) such obligations are authorized in viola - tion of the provisions of the constitution . THALER & THALER rTORNEYS a COUNSELLORS 109 NORTH TIOGA STREET ITHACA, NEW YORK _4 _ SECTION 7 . This resolution shall take effect immediately . This resolution was made by Donald C . Makie and duly seconded by A . Francis Wright and duly put to a vote on roll call , which resulted as follows : AYES : Supervisor , James H . Cortright Councilman , Donald C . Makie Councilman ; A . Francis Wright Town Magistrate , Floyd Dorn Town Magistrate , Moses Peter NOES : None The resolution was declared unanimously adopted . THALER & THALER ATTORNEYS & COUNSELLORS 309 NORTH TIOGA STREET ITHACA, NEW YORK - L . f ' TOWN BOARD TOWN OF DANBY Resolution No . 8 RESOLUTION DETERMINING THE ZERMS , FORM AND DETAILS OF ISSUANCE OF $ 19.4 , 000 . 00 ' EST DANBY WATER DISTRICT SERIAL BONDS .- 1968 OF THE TOWN OF DANBY IN THE COUNTY OF TOMPK INS , STATE OF NEW YORK , AND PROVIDING FOR THEIR SALE AT PRIVATE SALE , RE. C ITALS . WHEREAS , the Town Board of the Town of Danby , Tompkins Count , State of New York ( hereinafter called the " Town Board " ) on May 2 , 1968 passed a bond resolution appropriating $ 123 , 000 . 00 for the construction of a water distribution system , the acquisition of interests in land and the easements and the establishment of a Water District together with the appurtenances thereto , to be known as the West Danby *Water District in said Town , theretofore duly authorized , and authorized the issuance of $ 123 , 000 . 00 principal amount of serial bonds to finance said appropriation ; and WHEREAS , pursuant to the applicable provisions of the Consolidated Farmers Home Administration Act of 1961 , the United States of America , acting by and through the Farmers Home Administration , United States Department of Agriculture , has offered to purchase $ 94 , 000 . 00 principal amount of said bonds at par and at an interest rate of four per centum ( 4% ) per annum , and the Town Board has accepted such offer on behalf of said Town ; now , therefore , be it RESOLVED BY THE TOWN BOARD OF ':THE. TOWN OF DANBY IN THE COUNTY OF TOMPKINS , STATE OF NEW YORK , AS FOLLOWS : SECTION 1 . The Town Board hereby determines that said Town in unable to obtain sufficient credit from customary financing sources to construct the water distribution system , acquire the necessary interests in land and easements and establi - h THALER & THALER \TTORNEYS & COUNSELLORS the appurtenances thereto as hereinabov;e referred to in the 309 NORTH TIOGA STREET ITHACA. NEW YORK - 2 - Recitals hereof at reasonable rates and terms taking into con- sideration prevailing private and cooperative rates and terms currently available., and ,' . on behalf of said Town , hereby accepts the offer referred to in the Recitals hereof ; the Town Board further determines that of the $ 123 , 000 . 00 serial bonds of the Town authorized pursuanttto the said bond resolution , entitled : " Bond Resolution of the Town of Danby , Tompkins County , New York , adopted May 2 , 1968 authorizing the issuance of special obligation bonds of the West Danby Water District , Town of Danby , Tompkins County , New York , in providingtfunds to purchase , construct and provide a water works system for said district at an estimated maximum cost thereof of $ 217 , 000 . 00 . " duly adopted by the Town Board on the date therein referred to , $ 94 , 000 . 00 serial bonds shall be issued , bond anticipation notes in the principal amount of $ 30 , 000 . 00 having been heretofore issued and payment hereby provided therefor to the extent of $ 30 , 000 . 00 from the proceeds of the . bonds and said bonds shall be and are hereby sold and awarded to the United States of America acting by and through the Farmers Home Administration , United States Department of Agriculture , upon the terms and conditions herein set forth , at the purchase price of $ 94 , 000 . 00 . and that the proper officials of the Town are hereby authorized and directed to execute said bonds and to deliver the :' same to the said purchaser upon receipt of payment therefor in accordance with the terms and conditions of this resolution . SECTION 2 . Each of said bonds shall be designated "WEST DANBY WATER DISTRICT SERIAL BOND - 1968 . " Said bonds shall be dated as of the date of delivery and shall mature in the principal amount of $ 2 , 000 . 00 on January 1 , 1970 , $ 2 , 000 . 00 on January 1 in each of the years 1971 to 1992 , inclusive and $ 3 , 000 . 00 on January 1 in each of the years 1993 to 2008 , inclusive . The bonds shall be of _;the denomination of $ 1 , 000 . 00 each , the bonds shall be 94 in number , shall be numbered in order of THALER & THALER ATTORNEYS 8 COUNSELLORS 309 NORTH TIOGA STREET ITHACA, NEW YORK - 3 - maturities from 1 to 94 , inclusive , and shall bear interest at the rate of four per centum ( 4% ) per annum , payable January 1 , 1969 ( interest only ) and annually thereafter on the first day of January in each year until maturity . Both principal of and interest on said bonds shall be payabl in lawful money of the United States of America , at the principal office of the Tompkins County Trust Company , Ithaca , New York . Said bonds shall be registered in the name of the United States of America , acting by and through the Farmers Home Administration , United States Department of Agriculture , as to both principal and interest at the office of the Registration Agent designated by the Town Board pursuant to the Local Finance Law , shall be executed in the name of the Town by its Supervisor , shall have the corporate seal of the Town affixed thereto and attested by its Town Clerk , and shall be convertible in to coupon bonds at the request of the registered holder or its legal representatives , successors or transferees pursuant to said Local Finance Law . SECTION 3 . Said bonds may be called in and redeemed cr. cr :ante 5. Years ;frpan :dates :pf;, the ?bonds on any interest payment date prior to the date of their maturity at theaoption of the Town , as a whole or in part , in inverse order of their : numbet $ ,= at par without premium , upon giving notice of a call for redemption by mailing such notice to the registered holder at least thirty days prior to such date or , if such bonds have been converted in to coupon bonds , and interest shall cease to be paid on any of said bonds so called for redemption after such date of redemption . SECTION 4 . Said bonds shall be in substantially the follow- ing form : No . UNITED STATES OF AMERICA $ 1 , 000 STATE OF NEW YORK COUNTY OF TOMPKINS THALER & THALER TOWN OF DANBY ATTORNEYS & COUNSELLORS 309 NORTH TIOGA STRUT ITHACA, NEW YORK - 4 - VEST DANBY WATER DISTRICT SERIAL BOND - 1968 The TOWN OF DANBY , in the County of Tompkins , a municipal corporation of the State of New York , hereby acknowledges itself indebted and for value received promises to pay to . the United States of America , acting by and through the Farmers Home Admin - istration , United States of America Department of Agriculture , or its registered assigns , on the first day of January , the sum of . One Thousand Dollars ( $ 1 , 000 . 00 ) and to pay interest on such sum at the rate of four per centum ( 4% ) per annum , payable January 1 , 1969 and - annually thereafter on the first day of January in each year from the date of this bond until it matures . Both principal of and interest on this bond will be paid in lawful money of the United States of America , at the principal office of the Tompkins County Trust Company . This bond may be converted into a coupon bond at the request of the registered ' :holder in accordance with the provisions of the Local Finance Law . This bond is one of an authorized issue of $ 94 , 000 . 00 bond of like tenor except as to number , denomination and maturity , such issue being part of an authorization $ 123 , 000 . 00 bonds , and is issued pursuant to the provisions of the Local Finance Law , constituting a part of the Consolidated Laws of the State of New York , the bond resolution entitled : " Bond Resolution of the Town of Danby , Tompkins County , New York , adopted May 2 , 1968 , authorizing the issuance of special obligation bonds of the Vest Danby 'Water District , Town of Danby , Tompkins County , New York , in providing funds to purchase , construct and provide a water works- system for said district at an estimated maximum cost thereof of $ 217 , 000 . 00 . " , duly adopted by the Town Board on the date therein referred to and the resolution duly adopted by said Town Board on May 2 , 1988 . THALER & THALER The bonds of this '. issue may be called in and redeemed m ar ' • I ATTORNEYS a COUNSELLORS . 309 NORTH . TIOGA STREET ITHACA. NEW YORK . - 5 - 5: velis tl from the date of the bonds on any interest payment date prior to maturity at the option of said Town , as a whole , or in part , ins inverse order of their nuMberg , ., at par , without premium , upon notice of a call for redemption by mailing such notice to the registered holders at °. least thirty ( 30 ) days prior to such date and interest on the bonds , so called for redemption , shall cease to be paid after such date . The faith and credit of said Town are hereby irrevocably pledged for the punctual payment of the principal of and interest on this bond according to its terms . It is hereby 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 bond , exist , have happened and have been performed , and that the issue of bonds of which this is one , together with all other indebtedness of said Town is within every debt and other limit prescribed by the Constitution and laws of such State . IN WITNESS WHEREOF , the TOWN OF DANBY , has caused this bond to be signed by its Supervisor and its corporate seal to be hereunto affixed and attested by its Town Clerk and this bond to be dated as of the day of July , 1968 . . TOWN OF DANBY Supervisor . ATTEST : . Town Clerk It is hereby certified that the within bond has been re - THALER & THALER gistered as follows : ATTORNEYS 8 COUNSELLORS 309 NORTH TIOGA STREET ITHACA, NEW YORK - 6 - Date of I Name of Registration Registered Holder Registered by SECTION 5 , At the request of said Farmers Home Administra - t ion the purchaser of the bonds , the following Notice is hereby authorized to be printed on the back of the bonds , said Notice not constituting or being a term of the bonds or a part of the form thereof . - NOTICE OF, INSURANCE ENDORSEMENT OF THE UNITED STATES OF AMERICA GONOW Payment of interest on and principal of `, this Bond is insured by the United States of America , acting through the Farmers Home Administration , United States Department of Agriculture , as evidenced by and in accordance with - the ' terms of an Insurance Endorsement executed by the United States / on- the same date as this Notice of Insurance Endorsement . The Insurance Endorsement provides , among other things , that the holder agrees to forego the holder ' s rights and remedies against the bond obligor and any others in connection with the loan evidenced by the bond , to forego any benefits of any related security , and to accept the benefits of this insurance in lieu thereof .. E xecuted by the United States of America through its undersigned duly authorized office , this day of , 19 . ( Signature ) ( Title) Farmers Home Administration SECTION 6 . It shall be a condition of the Town ' s delivery of the bonds that it will be furnished with : ( a ) the approving opinion of Thaler & Thaler , acting bond counsel to the Town , to the effect that the _ bonds are valid and legally binding general obligations of said Town and that all the taxable ✓ eal property therein will be subject to the levy o f ad - valorem taxes to pay said bonds and interest thereon without limitation as to rate or amount and ( b ) certificates in form satisfactory to said firm e videncing the proper execution and delivery of the bonds and receipt of payment therefor including TRACER & TRACER a statement dated as of the date of such delivery to the effect that there is no litigation pending or ATTORNEYS 8 COUNSELLORS ( to the knowledge of this signor or signors ) 309 NORTH TIOGA STREET threatened affecting the validity of the bonds . ITHACA, NEW YORK V . 4 • _ 7 _ SECTION 7 . If at any time while the United States of America is the holder of said bonds the Town shall be requested by said holder to refund said bonds , the Town shall use its best efforts to refund said bonds on terms more favorable to the Town . SECTION 8 . This resolution shall take effect immediately . The foregoing resolution was moved by Moses Peter and duly seconded by Floyd Dorn and duly put to a roll call vote which resulted as follows : AYES : Supervisor , James H . Cortright Councilman , Donald C . Makie Councilman , A . Francis Fright Town Magistrate , Floyd Dorn Town Magistrate , Moses Peter NCES : None The resolution was declared unanimously adopted . . - THALER & THALER ATTORNEYS & COUNSELLORS 309 NORTH TIOGA STREET ' ITHACA, NEW YORK