Introduction

Adopt Bond Resolution Purchase 2 Dump Trucks

Adopt Bond Resolution Purchase 2 Dump Trucks

PLEASE TAKE NOTICE that on November 19, 2020, the Town Board of the Town of Warwick, New York, adopted a bond resolution entitled:

BOND RESOLUTION OF THE TOWN OF WARWICK, ADOPTED NOVEMBER 19, 2020, AUTHORIZING THE PURCHASE OF TWO DUMP TRUCKS, STATING THAT THE ESTIMATED MAXIMUM COST THEREOF IS $245,000.00, APPROPRIATING SAID AMOUNT THEREFOR AND AUTHORIZING THE ISSUANCE OF $245,000.00 SERIAL BONDS TO FINANCE SAID APPROPRIATION

an abstract of such bond resolution, concisely stating the purpose and effect thereof, being as follows:

FIRST: AUTHORIZING said Town to  purchase two dump trucks; STATING the estimated maximum cost thereof, including preliminary costs and costs incidental thereto and the financing thereof, is $245,000.00; APPROPRIATING said amount therefor; and STATING the plan of financing includes the issuance of $245,000.00 bonds of the Town to finance said appropriation, and the levy of a tax upon all the taxable real property within the Town to pay the principal of said bonds and interest thereon;

SECOND: AUTHORIZING the issuance of $245,000.00 bonds of the Town pursuant to the Local Finance Law of the State of New York (the “Law”) to finance said appropriation;

THIRD: DETERMINING and STATING the period of probable usefulness applicable to the purpose for which said bonds are authorized to be issued is fifteen (15) years; the proceeds of said bonds and any bond anticipation notes issued in anticipation thereof may be applied to reimburse the Town for expenditures made after the effective date of this bond resolution for the purpose for which said bonds are authorized; the proposed maturity of said bonds will exceed five (5) years;

FOURTH: DETERMINING that said bonds and any bond anticipation notes issued in anticipation of said bonds, and the renewals of said bond anticipation notes, shall be general obligations of the Town; and PLEDGING to their payments the faith and credit of the Town;

FIFTH: DELEGATING to the Town Supervisor the powers and duties as to the issuance of said bonds and any bond anticipation notes issued in anticipation of said bonds, and the renewals thereof, and other related powers; and

SIXTH: DETERMINING that the bond resolution is subject to permissive referendum.

SEVENTH: SEQRA Status – TYPE II

Dated: November 25, 2020
Warwick, NY

Eileen Astorino, Town Clerk
Town of Warwick
Orange County, New York

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