COEYMANS FIRE DISTRICT
NOTICE OF ELECTION
PLEASE TAKE NOTICE that pursuant to a resolution of the Board of Fire Commissioners dated June 13, 2022, a Special Election of the qualified voters of the Coeymans Fire District will be held at the Coeymans Fire Station located at 67 Church Street, Coeymans, New York 12045, on Tuesday July 26, 2022 between the hours of 6:00 p.m. and 9:00 p.m. to vote on whether to approve the proposition authorizing the bond resolution summarized below.
Summary of the Bond Resolution adopted by the Board of Fire Commissioners of the Coeymans Fire District, on June 13, 2022 authorizing:
(a) the acquisition of a Custom Pumper Tanker fire apparatus including incidental equipment, expenses, and services in connection therewith at a maximum estimated cost of $725,000.00 with a period of probable usefulness of 20 years;
(b) the expenditure of a sum not to exceed $420,000.00 to be expended from the Fire District’s Apparatus Capital Reserve Fund to pay a portion of the costs thereof;
(c) the Fire District Treasurer to issue serial bonds of the Fire District in an amount not to exceed $360,000.00 to pay a portion of the costs thereof;
(d) the Fire District Treasurer to issue serial bonds of the Fire District at the prevailing rate of interest on the date of issuance which is reasonably anticipated to be at a net rate of approximately 2.51% for a term of five years;
(e) the delegation to the Fire District Treasurer the powers necessary to issue such bonds and bond anticipation notes in anticipation of the sale of such bonds and;
(f) an amount to be collected within the annual levy of the Fire District tax to pay the principal and interest on said bonds; such amount to be offset by any federal, state, county, and/or local funds received; and pledging the faith and credit of the Fire District for the payment of the principal of and interest on said bonds.
A copy of the entire Bond Resolution is available for inspection from the Fire District Secretary upon request. The Proposition to be decided at the Special Election shall be presented on the ballot in substantially the following form:
Proposition Number 1
Shall the bond resolution adopted by the Board of Fire Commissioners of the Coeymans Fire District, in the Town of Coeymans, County of Albany, State of New York on June 13, 2022 authorizing the acquisition of a certain Custom Pumper Tanker including incidental equipment, expenses, and services in connection therewith at a maximum estimated cost of $725,000.00; with a sum not to exceed $420,000.00 to be expended from the Apparatus Capital Reserve Fund to pay a portion of the costs thereof; authorizing the issuance of serial bonds of said Fire District in an amount not to exceed $360,000.00 to pay a portion of the costs thereof; determining that the maximum maturity of serial bonds will be five (5) years; delegating to the Fire District Treasurer the power to authorize and sell bond anticipation notes and to fix the details of and to sell serial bonds or statutory installment bonds at the prevailing rate of interest at the time of issuance; pledging the faith and credit of said Fire District for the payment of the principal and interest on said bonds; and determining the probable usefulness thereof is twenty (20) years; such amount to be offset by any federal, state, county, and/or local funds received; containing an estoppel clause and providing for the publication of an estoppel notice, be approved?
PLEASE TAKE FURTHER NOTICE that pursuant to Town Law § 175-a all Fire District residents who have resided in the Coeymans Fire District as of June 27, 2022 and who are duly registered to vote with the Albany County Board of Elections on or before July 5, 2022 shall be entitled to vote at this Special Election.
June 13, 2022
Judy Frangella, Secretary
Coeymans Fire District
67 Church Street
Coeymans, NY 12045