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288.91A RESOLUTION AUTHORIZING THE ISSUANCE OF $830,000 SERIAL BONDS OF THE TOWN OF QUEENSBURY TO FINANCE THE INCREASE AND IMPROVEMENT OF FACILITIES OF THE TOWN OF QUEENSBURY CONSOLIDATED WATER DISTRICT BY CONSTRUCTING AN ADDITIONAL AND NEW ADMINISTRATIVE BUILDING AND OTHER APPURTENANCES NECESSARY FOR A COMPLETELY OPERATIONAL ADMINISTRATION BUILDING RESOLUTION NO. 288, 1991 , Introduced by Mrs. Marilyn Potenza who moved for its adoption, seconded by Mr. George Kurosaka. WHEREAS, the Town Board of the Town of Queensbury has heretofore created and consolidated the Queensbury Consolidated Water District, and WHEREAS, pursuant to the provisions of Section 202-b of the Town Law of the State of New York and more particularly a resolution of the Town Board of the Town of Queensbury duly adopted on the 22nd day of April, 1991, it has been determined to be in the public interest to acquire and construct a proposed improvement to the Queensbury Consolidated Water District consisting of an addition and new administration building and other appurtenances necessary for a completely operational administration building, the said project being more fully described in a map, plan and report on file with the Town Clerk of the Town of Queensbury, and WHEREAS, the maximum amount proposed to be expended for the increase or improvement is $830,000.00, WHEREAS, it is now desired to authorize payment of said increase and improvement and the financing thereof, and WHEREAS, this action for which this funding is proposed was designated as an unlisted action under the general regulations of the Department of Environmental Conservation and the Town Board of the Town of Queensbury previously conducted an environmental review and determined that there will be no significant environmental effects and adopted a notice of determination of non-significance, the same being on file with the Town Clerk of the Town of Queensbury, NOW, THEREFORE BE IT RESOLVED, by the Town Board of the Town of Queensbury, as follows: SECTION 1. The specific object or purpose to be financed pursuant to this resolution is the cost of an increase or improvement to the Queensbury Consolidated Water District consisting of an improvement of the water filtration plant administration offices located at Corinth Road, Town of Queensbury by constructed an additional and new administration building of approximately 8,300 square feet adjacent to the existing administrative area of the plant, connecting the same by an enclosed walkway or an apparatus similar thereto; with the improvements to include all construction materials and other appurtenances necessary for a completely operational administration building as the same is more fully described in a map, plan and report on file with the Town Clerk of the Town of Queensbury. SECTION 2. The maximum estimated cost of the specific object or purpose is $830,000.00 and the plan for financing thereof is the issuance of $830,000.00 in serial bonds of said Town and is hereby authorized to be issued pursuant to the Local Finance Law. SECTION 3. It is hereby determined that the period of probable usefulness of aforesaid specific object or purpose is thirty (30) years, pursuant to subdivision 12 of paragraph a of Section 11.00 of the Local Finance Law. It is hereby further determined that the maximum maturity of the serial bonds herein authorized will exceed five (5) years. It is hereby determined that pursuant to Section 35.00(b) of the Local Finance Law that this bond resolution is not subject to permissive referendum and that a five percent (5%) down payment is not required pursuant to Section 107 of the Local Finance Law. SECTION 4. The faith and credit of said Town of Queensbury, New York, are hereby irrevocably pledged for the payment of the principal of and interest on such bonds as the same respectively become due and payable. There shall be annually apportioned assessed upon the several lots and parcels of land within said Queensbury Consolidated Water District which the Town Board shall determine as specified to be especially benefitted by the improvement, an amount sufficient to pay the principal and interest on said bonds as the same become due, bit if not paid from such source, all taxable real property in said Town shall be subject to the levy or Ad Valorem taxes without limitation as to rate or amount sufficient to pay the principal of and interest on said bonds as the same become due. SECTION 5. Subject to the provisions of the Local Finance Law, the power to authorize the issuance of and to sell bond anticipation notes in anticipation of the issuance and sale of the serial bonds herein authorized, including renewals of such notes, is hereby delegated to the Town Supervisor, the Chief Fiscal Officer. Such notes shall be of such terms, form and contents, and shall be sold in such manner, as may be prescribed by said Town Supervisor, consistent with the provisions of the Local Finance Law. SECTION 6. The powers and duties of advertising the bonds for sale, conducting the sale and awarding the bonds, are hereby delegated to the Town Supervisor, who shall advertise the bonds for sale, if appropriate, conduct the sale and award the bonds in such manner as he shall deem best for the interest of the Town of Queensbury, provided, however, that in the exercise of these delegated powers he shall comply fully with the provisions of the Local Finance Law and any order or rule of the State Comptroller applicable to the sale of municipal bonds. The receipt of the Town Supervisor shall be a full acquittance to the purchaser of such bonds who shall not be obliged to see to the application of the purchase money. SECTION 7. The validity of such bonds or notes or any bond anticipation notes issued in anticipation of the sale of such bonds may be contested only if: 1) Such obligations are authorized for any object or purpose for which the Town of Queensbury is not authorized to expend money, or 2) The provisions of law which should be complied with at the date of the publication of this resolution are not substantially complied with an action, suit or proceeding contesting such validity, is commenced within twenty (20) days after the date of such publication, or 3) Such obligations are authorized in violation of the provisions of the constitution. SECTION 8. This resolution shall be published in full by the Town Clerk of the Town of Queensbury in the official newspaper of the Town of Queensbury, together with a notice of the Town Clerk substantially in the form provided in Section 81.00 of the Local Finance Law. SECTION 9. This resolution is not subject to permissive referendum. Duly adopted this 13th day of May, 1991, by the following vote: AYES: Mr. Kurosaka, Mrs. Potenza, Mr. Montesi, Mrs. Monahan, Mr. Borgos NOES: None ABSENT: None