July 27, 2023 Special Meeting Minutes
SPECIAL MEETING of the Town Board of the Town of Pomfret held at
5:45 P.M. July 27, 2023 at the Pomfret Town Hall, 9 Day Street, Fredonia, N.Y.
Supervisor Daniel Pacos
Town Clerk Allison Vento
PRESENT: Town Attorney Jeffrey Passafaro
COUNCILPERSONS: John Sedota
Ann Eckman
Christopher Schaeffer
Councilman Brett Christy
The purpose of this special meeting is for the Town Board to conduct any lawful business before the Town Board.
Supervisor Pacos
WHEREAS, the improvement of the facilities in the North End Water District-No.7, Phase 3 calls for the installation of approximately Seventy-Four Thousand (74,000) lineal feet of Eight (8) inch water main; the construction of two (2) water storage tanks, and including lands and rights in lands, furnishings, equipment, machinery, and apparatus, and
WHEREAS, CPL Engineers have provided an EAF, Parts 1 and 2, which have been reviewed by the Town Board and well known to the Town Board are the current water supply difficulties in the project area, which have been validated by the Chautauqua County Health Department, and
WHEREAS, the Town Board has held a Public Hearing, duly noticed in accordance with law, on said 202-b project, and all parties having been heard, and the map, plan, and report having been reviewed by the Board, and the Board having considered all the issues in Parts 1 and 2 of the EAF under SEQR, and in the opinion of the Engineer, it should issue a negative declaration with respect to said project;
NOW THEREFORE BE IT RESOLVED,
That the Town Board of the Town of Pomfret does hereby find a negative declaration under the State Environmental Quality Review Act with respect to the proposed 202-b project in the North End Water District, Water District No.7-Phase 3 in the Town of Pomfret, and be it further
RESOLVED, that the Supervisor and Clerk are authorized to execute all necessary documents issuing a negative declaration and filing and serving same in accordance with law.
WHEREAS, upon completion of said map, plan, and report and estimate of costs, and the filing thereof in the Office of the Town Clerk, the Town Board of Said Town adopted an Order calling for a Public Hearing there on, and caused notice of same of such hearing to be published and posted in the manner provided in Section 193 of the Town Law of the State of new York, describing in general terms the proposed improvements, consisting of the installation of approximately 74,000 lineal feet of eight inch water main; the construction of two water storage tanks and including lands or rights in land, furnishings, equipment, machinery, and apparatus required therefore; and pursuant to the direction of the Town, the Engineers have completed and filed with the Town Board such map, plan, and report for said increase and improvement of facilities of the District, dated July 2023, and have estimated the maximum cost thereof to be expended, Eleven Million, Five Hundred, Seventy-Five Thousand ($11,575,000.00) Dollars, and
WHEREAS, said notice of Public Hearing was duly posted and published as required by law, stating that the Town Board would meet to hear all persons interested in the subject matter thereof, on July 27, 2023 at 5:00P.M. at the Town Hall, 9 Day Street, Fredonia, New York, to consider said increase and improvement of the facilities to the district as herein mentioned at a cost not to exceed Eleven Million, Five Hundred, Seventy-Five Thousand ($11,575,000.00) Dollars and;
WHEREAS a public hearing was held at the time and place aforesaid in the same manner described herein, at which time all persons interested in the subject matter were given an opportunity to be heard;
NOW THEREFORE, upon evidence given at the Public Hearing described herein, it is hereby determined and ORDERED as follows:
The Notice of the Public Hearing described in the preamble hereof was posted and published as required by law, and is in all respects satisfactory; The construction of the improvements herein described is in the public interest; Prior to solicit competitive bids relative to the construction of these improvements, the Town’s engineer is hereby directed to prepare definitive plans and specifications, and to make a careful estimate of the expense of the improvements, and with the assistance of the Town Attorney, to prepare a proposed contract for the execution of the improvements and increase of facilities, and it is further
ORDERED that the facilities of the district shall be so increased and improved at a cost not to exceed Elven Million Five Hundred, Seventy-Five Thousand Dollars ($11,575,000.00) the amount stated in the Notice of Hearing as the maximum cost of the increase and improvement of the facilities to be expanded; and it is further
ORDRED that the expense of said crease and improvement of facilities shall be assessed, levied, and collected from the several lots of lands or parcels of land within the District, as such lands and lots of land are benefited, together with the several lots and parcels of land within the said North End Water District No. 7 as a whole; that North End Water District-Water District NO. 7 was constituted on a benefit basis and the expenses of said District are assessed, levied, and collected on a benefit basis as a benefit District, and it is further
ORDERED that the expense of said improvements of facilities may be offset by any grants received from the State or Federal bodies, and that the balance of said cost of the improvements described herein will be bonded in an amount not to exceed Six Million, Five Hundred, Sixty-Nine Thousand ($6,569,000.00) Dollars and it is further
ORDRED that the Town Board of the Town of Pomfret, in the name of the district, may accept all grants in aid from State and Federal agencies for the cost of said improvements, and my finance all or part of the balance not to exceed Six Million, Five Hundred, Sixty-Nine Dollars ($6,569,000.00) in serial bonds; and it is further
ORDERED that the Town Clerk shall record a copy of this order in the office of the County Clerk of the County of Chautauqua as required under section 195 of the Town Law of the State of New York.
ROLL CALL:
Supervisor Pacos-AYE
Councilman Sedota-AYE
Councilman Schaeffer-AYE
Councilman Christy-AYE
Councilwoman Eckman-AYE
WHEREAS, the Town Board of the Town of Pomfret, Chautauqua County, New York (the “Town”), has established the North End Water District – Water District No. 7 (the “District”); and
WHEREAS, the Town Board has determined, by resolution, to undertake a certain water system capital improvements project commonly known as “Phase 3” within the District; and
WHEREAS, the Town intends to apply for a $5,000,000 grant from the New York State Environmental Facilities Corporation (NYSEFC); and
WHEREAS, the Town Board has determined to proceed with such project by making an application to the NYSEFC for the hopeful receipt of grant funds; and
WHEREAS, the Town Board took the following actions with respect to such project: (a) received maps, plans and reports for such project, (b) held a public hearing with respect to such project, (c) considered all matters relating to, and complied with all obligations under, the State Environmental Quality Review Act and in connection therewith made such determinations with respect to such project as was required, (d) determined that the requirements of Article 12 of the Town Law had been satisfied with respect to such project and (e) determined to undertake such project; and
WHEREAS, the Town Board desires to issue obligations of the Town to finance at least a portion of the costs of such project.
NOW THEREFORE,
BE IT RESOLVED, by the Town Board (by the favorable vote of not less than two-thirds of all the members of the Board) as follows:
SECTION 1. The Town is hereby authorized to undertake a water system capital improvements project (commonly known as Phase 3) that will generally consist of (but not be limited to), the installation of approximately 74,000 linear feet of water main, construction of two water storage tanks, and including land or rights in land, furnishings, equipment, machinery, as well as other such improvements as more fully identified in (or contemplated by) such map, plan and report prepared in connection with such project, all of the forgoing to include all necessary site work, equipment, apparatus and other preliminary work (including design and survey) as well as other improvements and costs incidental thereto and in connection with the financing thereof (the “Project”). The estimated maximum cost of said purpose is $11,575,000.
SECTION 2. The Town Board plans to finance the estimated maximum cost of said purpose by (a) the application of up to $5,000,000 of grant funds anticipated to be or actually received from the New York State Environmental Facilities Corporation, (b) the issuance of serial bonds in an aggregate principal amount not to exceed $6,569,000 of the Town, hereby authorized to be issued therefore pursuant to the Local Finance Law, and (c) the use of available funds of the Town in the amount of $6,000, said amount of obligations to be offset by any additional federal, state, county and/or local funds received. Unless paid from other sources or charges, the costs of said increase and improvement of facilities will be paid by the assessment, levy and collection of special assessments from the several lots and parcels of land within the District which the Town Board shall determine and specify to be especially benefited thereby, so much upon and from each as shall be in just proportion to the amount of the benefit conferred upon the same, to pay the principal of and interest on said bonds as the same shall become due and payable, except as provided by law.
SECTION 3. It is hereby determined that said purpose is an object or purpose described in subdivision 1 of paragraph (a) of Section 11.00 of the Local Finance Law, and that the period of probable usefulness of said purpose is 40 years.
SECTION 4. Current funds are not required to be provided prior to the issuance of the bonds authorized by this resolution or any notes issued in anticipation of the sale of said bonds.
SECTION 5. It is hereby determined the proposed maturity of the obligations authorized by this resolution will be in excess of five years.
SECTION 6. The faith and credit of the Town are hereby irrevocably pledged for the payment of the principal of and interest on such bonds (and any bond anticipation notes issued in anticipation of the sale of 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 or notes becoming due and payable in such year. Unless paid from other sources or charges, the costs of said increase and improvement of facilities will be paid by the assessment, levy and collection of special assessments from the several lots and parcels of land within the District which the Town Board shall determine and specify to be especially benefited thereby, so much upon and from each as shall be in just proportion to the amount of the benefit conferred upon the same, to pay the principal of and interest on said bonds as the same shall become due and payable, except as provided by law. Should the assessments upon benefited real property be insufficient to pay the principal of and interest on such bonds, there shall annually be levied on all taxable real property of the Town a tax sufficient to pay the principal of and interest on such bonds or notes as the same become due and payable.
SECTION 7. Subject to the provisions of this resolution and of the Local Finance Law, and pursuant to the provisions of Section 21.00 relative to the authorization of the issuance of bonds with substantially level or declining annual debt service, Section 30.00 relative to the authorization of the issuance of bond anticipation notes and of Section 50.00, Sections 56.00 to 60.00, Section 62.00, Section 62.10, Section 63.00, and Section 164.00 of the Local Finance Law, the powers and duties of the Town Board pertaining or incidental to the sale and issuance of the obligations herein authorized, including but not limited to authorizing bond anticipation notes and prescribing the terms, form and contents and details as to the sale and issuance of the bonds herein authorized and of any bond anticipation notes issued in anticipation of said bonds, and the renewals of said notes, are hereby delegated to the Town Supervisor, the chief fiscal officer of the Town. Without in any way limiting the scope of the foregoing delegation of powers, the Town Supervisor, to the extent permitted by Section 58.00(f) of the Local Finance Law, is specifically authorized to accept bids submitted in electronic format for any bonds or notes of the Town.
SECTION 8. The temporary use of available funds of the Town, not immediately required for the purpose or purposes for which the same were borrowed, raised or otherwise created, is hereby authorized pursuant to Section 165.10 of the Local Finance Law, for the purpose or purposes described in this resolution.
SECTION 9. This resolution shall constitute the declaration (or reaffirmation) of the Town’s “official intent” to reimburse the expenditures authorized in this resolution with the proceeds of the bonds, notes or other obligations authorized herein, as required by United States Treasury Regulations Section 1.150-2.
SECTION 10. The Town Supervisor is further authorized to take such actions and execute such documents as may be necessary to ensure the continued status of the interest on the bonds authorized by this resolution, and any notes issued in anticipation thereof, as excludable from gross income for federal income tax purposes pursuant to Section 103 of the Internal Revenue Code of 1986, as amended (the “Code”) and may designate the bonds authorized by this resolution, and any notes issued in anticipation thereof, as “qualified tax-exempt bonds” in accordance with Section 265(b)(3) of the Code.
SECTION 11. The Town Supervisor is further authorized to enter into a continuing disclosure agreement with the initial purchaser of the bonds or notes authorized by this resolution, containing provisions which are satisfactory to such purchaser in compliance with the provisions of Rule 15c2-12, promulgated by the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934.
SECTION 12. The Town Supervisor is further authorized to call in and redeem any outstanding obligations that were authorized hereunder (at such times and in such amounts and maturities as may be deemed appropriate after consultation with Town officials and the Town’s municipal advisor), to approve any related notice of redemption, and to take such actions and execute such documents as may be necessary to effectuate any such calls for redemption pursuant to Section 53.00 of the Local Finance Law, with the understanding that no such call for redemption will be made unless such notice of redemption shall have first been filed with the Town Clerk.
SECTION 13. To the extent applicable, the Town Supervisor is hereby authorized to execute and deliver in the name and on behalf of the Town a project financing agreement prepared by the New York State Environmental Facilities Corporation (“EFC”) (the “Project Financing Agreement”). To the extent applicable, the Town Supervisor and the Town Clerk and all other officers, employees and agents of the Town are hereby authorized and directed for and on behalf of the Town to execute and deliver all certificates and other documents, perform all acts and do all things required or contemplated to be executed, performed or done by this resolution or any document or agreement approved hereby, including, but not limited to, the Project Financing Agreement.
SECTION 14. The Town has complied with applicable federal, state and local laws and regulations regarding environmental matters, including compliance with the New York State Environmental Quality Review Act (“SEQRA”), comprising Article 8 of the Environmental Conservation Law and, in connection therewith, duly issued a negative declaration and/or other applicable documentation, and therefore, no further action under SEQRA is necessary.
SECTION 15. In the absence or unavailability of the Town Supervisor, the Deputy Town Supervisor is hereby specifically authorized to exercise the powers delegated to the Town Supervisor in this resolution.
SECTION 16. The validity of said serial bonds or of any bond anticipation notes issued in anticipation of the sale of said serial bonds may be contested only if:
(1) (a) such obligations are authorized for an object or purpose for which the Town is not authorized to expend money, or
(b) the provisions of law which should be complied with at the date of publication of this resolution are not substantially complied with
and an action, suit or proceeding contesting such validity is commenced within 20 days after the date of such publication; or
(2) Said obligations are authorized in violation of the provisions of the Constitution of New York.
SECTION 17. The Town Clerk is hereby authorized and directed to publish this resolution, or a summary thereof, together with a notice in substantially the form provided by Section 81.00 of said Local Finance Law, in a newspaper having a general circulation in the Town and designated as the official newspaper of the Town for such publication.
SECTION 18. This Resolution is effective immediately.
The question of the adoption of the foregoing resolution was duly put to vote on a roll call, which resulted as follows:
ROLL CALL:
Supervisor Pacos-AYE
Councilman Sedota-AYE
Councilman Schaeffer-AYE
Councilman Christy-AYE
Councilwoman Eckman-AYE
DULY MOVED by Councilwoman Eckman to close the Special Meeting of the Town Board, seconded by Councilman Christy, and carried unanimously. Time: 5:49P.M.
Respectfully Submitted,
Allison Vento
Town Clerk
5:45 P.M. July 27, 2023 at the Pomfret Town Hall, 9 Day Street, Fredonia, N.Y.
Supervisor Daniel Pacos
Town Clerk Allison Vento
PRESENT: Town Attorney Jeffrey Passafaro
COUNCILPERSONS: John Sedota
Ann Eckman
Christopher Schaeffer
Councilman Brett Christy
The purpose of this special meeting is for the Town Board to conduct any lawful business before the Town Board.
Supervisor Pacos
- A motion made by Councilwoman Eckman to approve the following SEQR Resolution in regards to the North End Water District Phase 3, seconded by Councilman Sedota and carried unanimously.
WHEREAS, the improvement of the facilities in the North End Water District-No.7, Phase 3 calls for the installation of approximately Seventy-Four Thousand (74,000) lineal feet of Eight (8) inch water main; the construction of two (2) water storage tanks, and including lands and rights in lands, furnishings, equipment, machinery, and apparatus, and
WHEREAS, CPL Engineers have provided an EAF, Parts 1 and 2, which have been reviewed by the Town Board and well known to the Town Board are the current water supply difficulties in the project area, which have been validated by the Chautauqua County Health Department, and
WHEREAS, the Town Board has held a Public Hearing, duly noticed in accordance with law, on said 202-b project, and all parties having been heard, and the map, plan, and report having been reviewed by the Board, and the Board having considered all the issues in Parts 1 and 2 of the EAF under SEQR, and in the opinion of the Engineer, it should issue a negative declaration with respect to said project;
NOW THEREFORE BE IT RESOLVED,
That the Town Board of the Town of Pomfret does hereby find a negative declaration under the State Environmental Quality Review Act with respect to the proposed 202-b project in the North End Water District, Water District No.7-Phase 3 in the Town of Pomfret, and be it further
RESOLVED, that the Supervisor and Clerk are authorized to execute all necessary documents issuing a negative declaration and filing and serving same in accordance with law.
- A motion made by Councilwoman Eckman to approve the following Order after Public Hearing resolution, seconded by Councilman Christy, and carried by Roll Call Vote.
WHEREAS, upon completion of said map, plan, and report and estimate of costs, and the filing thereof in the Office of the Town Clerk, the Town Board of Said Town adopted an Order calling for a Public Hearing there on, and caused notice of same of such hearing to be published and posted in the manner provided in Section 193 of the Town Law of the State of new York, describing in general terms the proposed improvements, consisting of the installation of approximately 74,000 lineal feet of eight inch water main; the construction of two water storage tanks and including lands or rights in land, furnishings, equipment, machinery, and apparatus required therefore; and pursuant to the direction of the Town, the Engineers have completed and filed with the Town Board such map, plan, and report for said increase and improvement of facilities of the District, dated July 2023, and have estimated the maximum cost thereof to be expended, Eleven Million, Five Hundred, Seventy-Five Thousand ($11,575,000.00) Dollars, and
WHEREAS, said notice of Public Hearing was duly posted and published as required by law, stating that the Town Board would meet to hear all persons interested in the subject matter thereof, on July 27, 2023 at 5:00P.M. at the Town Hall, 9 Day Street, Fredonia, New York, to consider said increase and improvement of the facilities to the district as herein mentioned at a cost not to exceed Eleven Million, Five Hundred, Seventy-Five Thousand ($11,575,000.00) Dollars and;
WHEREAS a public hearing was held at the time and place aforesaid in the same manner described herein, at which time all persons interested in the subject matter were given an opportunity to be heard;
NOW THEREFORE, upon evidence given at the Public Hearing described herein, it is hereby determined and ORDERED as follows:
The Notice of the Public Hearing described in the preamble hereof was posted and published as required by law, and is in all respects satisfactory; The construction of the improvements herein described is in the public interest; Prior to solicit competitive bids relative to the construction of these improvements, the Town’s engineer is hereby directed to prepare definitive plans and specifications, and to make a careful estimate of the expense of the improvements, and with the assistance of the Town Attorney, to prepare a proposed contract for the execution of the improvements and increase of facilities, and it is further
ORDERED that the facilities of the district shall be so increased and improved at a cost not to exceed Elven Million Five Hundred, Seventy-Five Thousand Dollars ($11,575,000.00) the amount stated in the Notice of Hearing as the maximum cost of the increase and improvement of the facilities to be expanded; and it is further
ORDRED that the expense of said crease and improvement of facilities shall be assessed, levied, and collected from the several lots of lands or parcels of land within the District, as such lands and lots of land are benefited, together with the several lots and parcels of land within the said North End Water District No. 7 as a whole; that North End Water District-Water District NO. 7 was constituted on a benefit basis and the expenses of said District are assessed, levied, and collected on a benefit basis as a benefit District, and it is further
ORDERED that the expense of said improvements of facilities may be offset by any grants received from the State or Federal bodies, and that the balance of said cost of the improvements described herein will be bonded in an amount not to exceed Six Million, Five Hundred, Sixty-Nine Thousand ($6,569,000.00) Dollars and it is further
ORDRED that the Town Board of the Town of Pomfret, in the name of the district, may accept all grants in aid from State and Federal agencies for the cost of said improvements, and my finance all or part of the balance not to exceed Six Million, Five Hundred, Sixty-Nine Dollars ($6,569,000.00) in serial bonds; and it is further
ORDERED that the Town Clerk shall record a copy of this order in the office of the County Clerk of the County of Chautauqua as required under section 195 of the Town Law of the State of New York.
ROLL CALL:
Supervisor Pacos-AYE
Councilman Sedota-AYE
Councilman Schaeffer-AYE
Councilman Christy-AYE
Councilwoman Eckman-AYE
- Councilman Christy made a motion to approve the following Bond Resolution, seconded by Councilman Sedota and carried by a roll call vote.
WHEREAS, the Town Board of the Town of Pomfret, Chautauqua County, New York (the “Town”), has established the North End Water District – Water District No. 7 (the “District”); and
WHEREAS, the Town Board has determined, by resolution, to undertake a certain water system capital improvements project commonly known as “Phase 3” within the District; and
WHEREAS, the Town intends to apply for a $5,000,000 grant from the New York State Environmental Facilities Corporation (NYSEFC); and
WHEREAS, the Town Board has determined to proceed with such project by making an application to the NYSEFC for the hopeful receipt of grant funds; and
WHEREAS, the Town Board took the following actions with respect to such project: (a) received maps, plans and reports for such project, (b) held a public hearing with respect to such project, (c) considered all matters relating to, and complied with all obligations under, the State Environmental Quality Review Act and in connection therewith made such determinations with respect to such project as was required, (d) determined that the requirements of Article 12 of the Town Law had been satisfied with respect to such project and (e) determined to undertake such project; and
WHEREAS, the Town Board desires to issue obligations of the Town to finance at least a portion of the costs of such project.
NOW THEREFORE,
BE IT RESOLVED, by the Town Board (by the favorable vote of not less than two-thirds of all the members of the Board) as follows:
SECTION 1. The Town is hereby authorized to undertake a water system capital improvements project (commonly known as Phase 3) that will generally consist of (but not be limited to), the installation of approximately 74,000 linear feet of water main, construction of two water storage tanks, and including land or rights in land, furnishings, equipment, machinery, as well as other such improvements as more fully identified in (or contemplated by) such map, plan and report prepared in connection with such project, all of the forgoing to include all necessary site work, equipment, apparatus and other preliminary work (including design and survey) as well as other improvements and costs incidental thereto and in connection with the financing thereof (the “Project”). The estimated maximum cost of said purpose is $11,575,000.
SECTION 2. The Town Board plans to finance the estimated maximum cost of said purpose by (a) the application of up to $5,000,000 of grant funds anticipated to be or actually received from the New York State Environmental Facilities Corporation, (b) the issuance of serial bonds in an aggregate principal amount not to exceed $6,569,000 of the Town, hereby authorized to be issued therefore pursuant to the Local Finance Law, and (c) the use of available funds of the Town in the amount of $6,000, said amount of obligations to be offset by any additional federal, state, county and/or local funds received. Unless paid from other sources or charges, the costs of said increase and improvement of facilities will be paid by the assessment, levy and collection of special assessments from the several lots and parcels of land within the District which the Town Board shall determine and specify to be especially benefited thereby, so much upon and from each as shall be in just proportion to the amount of the benefit conferred upon the same, to pay the principal of and interest on said bonds as the same shall become due and payable, except as provided by law.
SECTION 3. It is hereby determined that said purpose is an object or purpose described in subdivision 1 of paragraph (a) of Section 11.00 of the Local Finance Law, and that the period of probable usefulness of said purpose is 40 years.
SECTION 4. Current funds are not required to be provided prior to the issuance of the bonds authorized by this resolution or any notes issued in anticipation of the sale of said bonds.
SECTION 5. It is hereby determined the proposed maturity of the obligations authorized by this resolution will be in excess of five years.
SECTION 6. The faith and credit of the Town are hereby irrevocably pledged for the payment of the principal of and interest on such bonds (and any bond anticipation notes issued in anticipation of the sale of 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 or notes becoming due and payable in such year. Unless paid from other sources or charges, the costs of said increase and improvement of facilities will be paid by the assessment, levy and collection of special assessments from the several lots and parcels of land within the District which the Town Board shall determine and specify to be especially benefited thereby, so much upon and from each as shall be in just proportion to the amount of the benefit conferred upon the same, to pay the principal of and interest on said bonds as the same shall become due and payable, except as provided by law. Should the assessments upon benefited real property be insufficient to pay the principal of and interest on such bonds, there shall annually be levied on all taxable real property of the Town a tax sufficient to pay the principal of and interest on such bonds or notes as the same become due and payable.
SECTION 7. Subject to the provisions of this resolution and of the Local Finance Law, and pursuant to the provisions of Section 21.00 relative to the authorization of the issuance of bonds with substantially level or declining annual debt service, Section 30.00 relative to the authorization of the issuance of bond anticipation notes and of Section 50.00, Sections 56.00 to 60.00, Section 62.00, Section 62.10, Section 63.00, and Section 164.00 of the Local Finance Law, the powers and duties of the Town Board pertaining or incidental to the sale and issuance of the obligations herein authorized, including but not limited to authorizing bond anticipation notes and prescribing the terms, form and contents and details as to the sale and issuance of the bonds herein authorized and of any bond anticipation notes issued in anticipation of said bonds, and the renewals of said notes, are hereby delegated to the Town Supervisor, the chief fiscal officer of the Town. Without in any way limiting the scope of the foregoing delegation of powers, the Town Supervisor, to the extent permitted by Section 58.00(f) of the Local Finance Law, is specifically authorized to accept bids submitted in electronic format for any bonds or notes of the Town.
SECTION 8. The temporary use of available funds of the Town, not immediately required for the purpose or purposes for which the same were borrowed, raised or otherwise created, is hereby authorized pursuant to Section 165.10 of the Local Finance Law, for the purpose or purposes described in this resolution.
SECTION 9. This resolution shall constitute the declaration (or reaffirmation) of the Town’s “official intent” to reimburse the expenditures authorized in this resolution with the proceeds of the bonds, notes or other obligations authorized herein, as required by United States Treasury Regulations Section 1.150-2.
SECTION 10. The Town Supervisor is further authorized to take such actions and execute such documents as may be necessary to ensure the continued status of the interest on the bonds authorized by this resolution, and any notes issued in anticipation thereof, as excludable from gross income for federal income tax purposes pursuant to Section 103 of the Internal Revenue Code of 1986, as amended (the “Code”) and may designate the bonds authorized by this resolution, and any notes issued in anticipation thereof, as “qualified tax-exempt bonds” in accordance with Section 265(b)(3) of the Code.
SECTION 11. The Town Supervisor is further authorized to enter into a continuing disclosure agreement with the initial purchaser of the bonds or notes authorized by this resolution, containing provisions which are satisfactory to such purchaser in compliance with the provisions of Rule 15c2-12, promulgated by the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934.
SECTION 12. The Town Supervisor is further authorized to call in and redeem any outstanding obligations that were authorized hereunder (at such times and in such amounts and maturities as may be deemed appropriate after consultation with Town officials and the Town’s municipal advisor), to approve any related notice of redemption, and to take such actions and execute such documents as may be necessary to effectuate any such calls for redemption pursuant to Section 53.00 of the Local Finance Law, with the understanding that no such call for redemption will be made unless such notice of redemption shall have first been filed with the Town Clerk.
SECTION 13. To the extent applicable, the Town Supervisor is hereby authorized to execute and deliver in the name and on behalf of the Town a project financing agreement prepared by the New York State Environmental Facilities Corporation (“EFC”) (the “Project Financing Agreement”). To the extent applicable, the Town Supervisor and the Town Clerk and all other officers, employees and agents of the Town are hereby authorized and directed for and on behalf of the Town to execute and deliver all certificates and other documents, perform all acts and do all things required or contemplated to be executed, performed or done by this resolution or any document or agreement approved hereby, including, but not limited to, the Project Financing Agreement.
SECTION 14. The Town has complied with applicable federal, state and local laws and regulations regarding environmental matters, including compliance with the New York State Environmental Quality Review Act (“SEQRA”), comprising Article 8 of the Environmental Conservation Law and, in connection therewith, duly issued a negative declaration and/or other applicable documentation, and therefore, no further action under SEQRA is necessary.
SECTION 15. In the absence or unavailability of the Town Supervisor, the Deputy Town Supervisor is hereby specifically authorized to exercise the powers delegated to the Town Supervisor in this resolution.
SECTION 16. The validity of said serial bonds or of any bond anticipation notes issued in anticipation of the sale of said serial bonds may be contested only if:
(1) (a) such obligations are authorized for an object or purpose for which the Town is not authorized to expend money, or
(b) the provisions of law which should be complied with at the date of publication of this resolution are not substantially complied with
and an action, suit or proceeding contesting such validity is commenced within 20 days after the date of such publication; or
(2) Said obligations are authorized in violation of the provisions of the Constitution of New York.
SECTION 17. The Town Clerk is hereby authorized and directed to publish this resolution, or a summary thereof, together with a notice in substantially the form provided by Section 81.00 of said Local Finance Law, in a newspaper having a general circulation in the Town and designated as the official newspaper of the Town for such publication.
SECTION 18. This Resolution is effective immediately.
The question of the adoption of the foregoing resolution was duly put to vote on a roll call, which resulted as follows:
ROLL CALL:
Supervisor Pacos-AYE
Councilman Sedota-AYE
Councilman Schaeffer-AYE
Councilman Christy-AYE
Councilwoman Eckman-AYE
DULY MOVED by Councilwoman Eckman to close the Special Meeting of the Town Board, seconded by Councilman Christy, and carried unanimously. Time: 5:49P.M.
Respectfully Submitted,
Allison Vento
Town Clerk