Town of Coeymans

NOTICE – Bond Resolution

NOTICE OF BOND RESOLUTION

         NOTICE IS HEREBY GIVEN that the bond resolution, a summary of which is published herewith, has been adopted by the Town Board of the Town of Coeymans, Albany County, New York on the 14th day of March, 2019, 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 Coeymans 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 proceeding contesting such validity is commenced within twenty (20) days after the date of publication of this notice; or if such obligations were authorized in violation of the provisions of the Constitution of New York.

                                                                                Cindy L. Rowzee, Town Clerk
Town of Coeymans

BOND RESOLUTION DATED MARCH 14, 2019

A RESOLUTION AUTHORIZING THE ISSUANCE OF SERIAL BONDS OF THE TOWN OF COEYMANS, ALBANY COUNTY, NEW YORK IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $81,487 PURSUANT TO THE LOCAL FINANCE LAW TO FINANCE THE ACQUISITION OF A BACKHOE LOADER, AND DELEGATING CERTAIN POWERS IN CONNECTION THEREWITH TO THE TOWN SUPERVISOR

            Objects or purposes:  The Resolution authorizes the acquisition of a John Deere 310L backhoe loader with flip forks, at an aggregate estimated maximum cost of $87,987.15.  The aforesaid purpose constitutes a Type II action as defined under the State Environmental Quality Review Regulations, 6 NYCRR Part 617, which has been determined not to have a significant effect on the environment.

            Period of Probable Usefulness:  Fifteen (15) years pursuant to subdivision 28 of paragraph a of Section 11.00 of the Local Finance Law.  The obligations authorized by the Bond Resolution will not be in excess of five years from the original date of issuance of such obligations.

            Maximum Amount of Obligations to be Issued:  The Town Board plans to finance a portion of the cost of said purpose by the issuance of serial bonds of the Town in an amount not to exceed $81,487.00, hereby authorized to be issued therefor pursuant to the Local Finance Law.  A portion of the cost of said purpose will be paid in the form of a trade-in allowance in the amount of $6,500.00 for the 1997 Ford backhoe.

            Delegation:  The power to authorize bond anticipation notes in anticipation of the issuance of the serial bonds authorized by this resolution, determine the form and terms of said serial bonds, and take certain other actions is delegated to the Town Supervisor, as Chief Fiscal Officer.

A complete copy of the Bond Resolution summarized above is available for public inspection during normal business hours at the office of the Town Clerk, located at the Coeymans Town Hall, 18 Russell Avenue, Ravena, New York.

Dated:  March 14, 2019              
Ravena, New York