190.95
NOTICE OF ADOPTION
At a Regular Meeting of the Town Board of the Town of Queensbury
held on March 20th 19954 at 7:00 P.M. at the Town of Queensbury,
742 Bay Road, Queensbury, New York, the following resolution was
passed:
RESOLUTION AUTHORIZING THE ISSUANCE OF $300,000.00 SERIAL BONDS
OF THE TOWN OF QUEENSBURY TO FINANCE HIGHWAY DEPARTMENT
PURCHASE OF MACHINERY AND/OR APPARATUS
FOR CONSTRUCTION AND MAINTENANCE
RESOLUTION NO.: 190. 1995
INTRODUCED BY: Mr. Theodore Turner WHO MOVED ITS ADOPTION
SECONDED BY: Mrs. Betty Monahan
WHEREAS, the Town of Queensbury, Highway Superintendent is
desirous of purchasing one (1) track type tractor with bulldozer
and one (1) all wheel drive heavy duty hydraulic wheeled excavator
in accordance with specifications presented at this meeting, and
WHEREAS, said Town Board of the Town of Queensbury by previous
resolution has approve and, as necessary, authorized said purchase
in accordance with the Highway Laws of the State of New York, and
WHEREAS, the maximum amount proposed to be expended for the
purchase is the amount of $300,000.00, and
WHEREAS, it is now desired to authorize financing for said
purchase, and
WHEREAS, the action for which this funding is proposed has
been reviewed by the Town Board pursuant to the mandates of the
State Environmental Quality Review Act and the Town Board has
determined that action to be an action not subject to the
requirements of the State Environmental Quality Review Act or it is
a Type II Action for which an Environmental Impact Statement or
other determination of proceedings under the Rules and Regulations
are not necessary,
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 purchase of
machinery and/or apparatus for construction and
maintenance, said machinery or apparatus to consist of
one (1) track type tractor with bulldozer and one (1)
all wheel drive heavy duty hydraulic wheeled excavator.
SECTION 2. The maximum estimated cost of such
specific object or purpose is a total of $300,000.00 and
the plan for the financing thereof is the issuance of
$300,000.00 serial bonds hereby authorized to be issued
pursuant to the Local Finance Law.
SECTION 3. It is hereby determined that the period
of probable usefulness of the aforesaid specific object
or purpose is fifteen (15) years, pursuant to
subdivision 28 of paragraph a of Section 11.00 of the
Local Finance Law as the cost of each machine and/or
apparatus equipped as specified shall exceed the sum of
$30,000.00. It is hereby further determined that the
maximum maturity of the serial bonds herein authorized
will not exceed five (5) years. It is hereby determined
that pursuant to Section 35.00(b) of the Local Finance
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Law that this bond resolution is not subject to
permissive referendum and that a five percent (5%) down
payment is not required therefore 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.
An annual appropriation shall be made in each year
sufficient to pay the principal of and interest on such
bonds becoming due and payable in such year. Unless
paid form revenues derived form the aforesaid specific
object of purpose, there shall annually be levied on all
the taxable property of said Town of Queensbury, a tax
sufficient to pay the principal of and interest on such
bonds as the same become due and payable.
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
those 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
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2) The provisions of law which should be complied
with at the date of the publication of such resolution
or summary thereof, or certificate, as the case may be,
are not substantially complied with and 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 20th day of March, 1995 by the following
vote:
Ayes: Mrs. Monahan, Mr. Turner, Mr. Champagne
Noes: None
Absent: Mr. Caimano, Mrs. Pulver
The resolution published herewith has been adopted on the 20th day
of March, 1995, 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
Queensbury 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 proceedings contesting such validity is
commenced within twenty days after the date of publication of this
notice, or such obligations were authorized in violation of the
provisions of the constitution.
I, Darleen M. Dougher Town Clerk of the Town of Queensbury, Warren
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County, New York, do hereby certify that I have compared the
foregoing with the original resolution as listed above adopted at a
Regular Meeting of the Town Board of the Town of Queensbury held on
the 20th day of March, 1995 at which a quorum was present and that
the same is a correct transcript therefrom and of the whole
original thereof to date.
IN WITNESS THEREOF, I have hereto set my hand and the SEAL of said
Town of Queensbury, this 21st, day of March, 1995.
SEAL
SIGNED:_______________________________________
Darleen M. Dougher
Town Clerk-Queensbury
Dated: 3-24-95
Darleen M. Dougher
Town Clerk
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