NOTICE OF BOND RESOLUTION
NOTICE IS HEREBY GIVEN that the resolution, a summary of which is published herewith, has been adopted by the Town Board of the Town of Red Hook, Dutchess County, New York on the 12th day of March, 2019. The period of time has elapsed for the submission and filing of a petition for a permissive referendum and a valid petition has not been submitted and filed. 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 Red Hook 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.
Sue McCann, Town Clerk
Town of Red Hook
AMENDMENT TO BOND RESOLUTION
A RESOLUTION AMENDING BOND RESOLUTION NO. 88 OF 2017 DATED DECEMBER 12, 2017, AS AMENDED BY BOND RESOLUTION NO. 86 OF 2018 DATED DECEMBER 11, 2018, AUTHORIZING RECREATION PARK IMPROVEMENTS AT AN ESTIMATED INCREASED MAXIMUM COST OF $2,425,000, THE ISSUANCE OF SERIAL BONDS OF THE TOWN OF RED HOOK, DUTCHESS COUNTY, NEW YORK IN AN INCREASED AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $1,500,000 PURSUANT TO THE LOCAL FINANCE LAW TO FINANCE A PORTION OF THE COST THEREOF, THE EXPENDITURE OF $430,000 FROM RECREATION RESERVE FUNDS, AND PROVIDING THAT THIS RESOLUTION SHALL BE SUBJECT TO A PERMISSIVE REFERENDUM AND DELEGATING CERTAIN POWERS IN CONNECTION THEREWITH TO THE TOWN SUPERVISOR
Objects or purposes: The Bond Resolution as amended by the Amendment to Bond Resolution authorizes the improvement of facilities at the existing Recreation Park east of Linden Avenue and the Recreation Park annex west of Linden Avenue included in Phase I of the master plan, including improvements to an existing field to create a Challenger Field, a new ballfield, improvements to accessibility, replacement of playground equipment, trails, upgrades to existing facilities, and related parking and infrastructure, at an increased estimated maximum cost of $2,425,000. The aforesaid purpose constitutes an unlisted action as defined under the State Environmental Quality Review Regulations, 6 NYCRR Part 617, which has been determined under SEQRA not to have a significant impact on the environment.
Period of Probable Usefulness: Fifteen (15) years, pursuant to subdivision 19(c) of paragraph a of Section 11.00 of the Local Finance Law. The obligations authorized by the Bond Resolution No. 88 as amended by the Amendment to Bond Resolution will 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 $1,500,000, hereby authorized to be issued therefor pursuant to the Local Finance Law. The Town Board plans to pay a portion of the cost of said purpose in the amount of $430,000 from the Town’s recreation reserve funds, hereby authorized to be expended for such purpose. A portion of the remaining cost is expected to be paid from the following sources: $250,000 from CDBG grants, $30,000 from cash donations and approximately $20,000 in in-kind donations for the playground project, and $75,000 from a Greenway grant in cooperation with Winnakee Land Trust. The remaining $120,000 cost of the project is expected to be paid from other available funds.
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 Red Hook Town Hall, 7340 South Broadway, Red Hook, New York 12571.
Dated: April 12, 2019
Red Hook, New York