1973-10-10 SP(2) 3886
or notes which, if such use had been reasonably expected on the date
of issue of such bonds or notes, would have caused such bonds or notes
to be "arbitrage bonds" within- the meaning of Section 103 (d) of the
Internal Revenue Code of 1954, as amended, and (ii) as long as any of
suchJ?Qp.4� %r jVotes are outstanding, it will comply with the requirements
ofn the Internal Revenue Code of 1954, as amended, and with applicable
regulations of the Department of the Treasury promulgated thereunder.
Section 7. The validity of such bonds may be contested only if:
1) Such bonds 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 publication, or
3) Such bonds are authorized in violation of the provisions
of the Constitution. --
Section 8. This resolution shall be deemed to supersede the
bond resolution duly adopted by the Town Board of said Town on
April 18, 1973, having the exact same title as this resolution, with
the exception of the date thereof.
Section 9. This resolution, which takes effect immediately,
shall be published in full in Glens Fall Ptst Star Times' arid -'Tri County
News , the official newspapers, together with a notice of the Town Clerk
in substantially the form provided in Section 81.00 of the Local Finance
Law.
Duly adopted by the following vote:
Ayes: Mr. Olson, Mr. Barber, Mr. Robillard, Mr. Streeter, Mr. Austin
Noes, None
Absent: None
On motion the meeting was adjourned.
Respectfully submitted,
Donald A. Chase
Town Clerk
SPECIAL MEETING OCTOBER 10, 1973
MEMBERS PRESENT:
John Austin Supervisor
Daniel Olson Councilman
Robert Barber Councilman
Harold Robillard Councilman
Gordon Streeter Councilman
Harold W. Katz
Meeting Opened 9: 00 A.M. Salute to the Flag
RESOLUTION TO APPROVE AUDIT OF BILLS
RESOLUTION NO. 194 Introduced by Mr. Harold Robillard who moved its
adoption, seconded by Mr. Daniel Olson:
RESOLVED, that the Audit of Bills as listed on Abstract 73-10 numbered
1305B-1305C totaling $793,471.45.
Duly adopted by -the following vote :
Ayes : Mr. Olson, Mr. Barber, Mr. Robillard, Mr. Streeter, Mr. Austin
Noes : None
Absent: None
On motion the meeting was adjourned.
Respectfully submitted,
Donald A. Chase, Town Clerk