12. Resolution No. 434

Authorizing The Acquisition Of Right-Of-Way Interests At South Putt Corners Road, In And For The County Of Ulster, New York, At A Maximum Estimated Cost Of $176,260.00, And Authorizing The Issuance Of $176,260.00 Bonds Of Said County To Pay The Cost Thereof

Resolution Information

Status: 
Adopted

RESOLUTION TEXT +-

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Referred to: The Ways and Means Committee (Chairman Gerentine and Legislators

Allen, Belfiglio, Briggs, Gregorius, Maio, Maloney and R. Parete)

Chairman of the Public Works and Capital Projects Committee, Dean J. Fabiano, and

Deputy Chairman Peter M. Loughran offer the following:

WHEREAS, by Resolution No. 433 dated and duly adopted on the date

hereof, the County Legislature of the County of Ulster, New York has established

Capital Project No. 336 for the acquisition of right-of-way interests at South Putt

Corners Road in the Town of New Paltz, including incidental expenses in connection

therewith (Department of Public Works (Highways and Bridges); and

WHEREAS, said capital project, as proposed, has been determined to be a

Type II Action pursuant to the regulations of the New York State Department of

Environmental Conservation promulgated pursuant to the State Environmental

Quality Review Act, which regulations state that Type II Actions will not have a

significant adverse impact on the environment; and

WHEREAS, it is now desired to authorize the financing of such capital

project; now, therefore be it

RESOLVED, by the affirmative vote of not less than two-thirds of the total

voting strength of the County Legislature of the County of Ulster, New York, as

follows:

Section 1. The acquisition of right-of-way interests at South Putt Corners Road in

the Town of New Paltz, including incidental expenses in connection therewith, in and

for the County of Ulster, New York, is hereby authorized at a maximum estimated

cost of $176,260.

Section 2. It is hereby determined that the plan for the financing of the aforesaid

maximum estimated cost is by the issuance of $176,260 of bonds of the County

hereby authorized to be issued therefor pursuant to the provisions of the Local

Finance Law; provided, however, that to the extent that any Federal or State or other

grants-in-aid are received for such specific object or purpose, the ultimate amount of

bonds to be issued pursuant to this resolution shall be reduced dollar for dollar.

 

Section 3. It is hereby determined that the period of probable usefulness of the

aforesaid specific object or purpose is thirty years, pursuant to subdivision 21(a) of

paragraph a of Section 11.00 of the Local Finance Law.

Section 4. The faith and credit of said County of Ulster, New York, are hereby

irrevocable pledged for the payment of the principal of and interest on 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

becoming due and payable in such year. There shall annually be levied on all the

taxable real property of said County, a tax sufficient to pay the principal of and

interest on such bonds as the same become due and payable.

Section 5. Subject to the provisions of the Local Finance Law, the power to

authorize the issuance of and to sell bond anticipation notes in anticipation of the

issuance and sale of the bonds herein authorized, including renewals of such notes, is

hereby delegated to the Commissioner of Finance, the chief fiscal officer. Such notes

shall be of such terms, form and contents, and shall be sold in such manner, as may

be prescribed by said Commissioner of Finance, consistent with the provisions of the

Local Finance Law.

Section 6. All other matters except as provided herein relating to the serial bonds

herein authorized including the date, denominations, maturities and interest payment

dates, within the limitations prescribed herein and the manner of execution of the

same, including the consolidation with other issues, and also the ability to issue serial

bonds with substantially level or declining annual debt service, shall be determined

by the Commissioner of Finance, the chief fiscal officer of such County. Such bonds

shall contain substantially the recital of validity clause provided for in Section 52.00

of the Local Finance Law, and shall otherwise be in such form and contain such

recitals, in addition to those required by Section 51.00 of the Local Finance Law, as

the Commissioner of F

 

2) 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

twenty days after the date of such publication, or

3) Such obligations are authorized in violation of the provisions of the

Constitution.

Section 8. This resolution shall constitute a statement of official intent for

purposes of Treasury Regulations Section 1.150 2. Other than as specified in this

resolution, no monies are, or are reasonably expected to be, reserved, allocated on a

long term basis, or otherwise set aside with respect to the permanent funding of the

object or purpose described herein.

Section 9. This resolution, which takes effect immediately, shall be published in

summary form in the official newspaper(s) of such County, together with a notice of

the Clerk of the County Legislature in substantially the form provided in Section

81.00 of the Local Finance Law,

and moves its adoption.

ADOPTED BY THE FOLLOWING VOTE:

AYES: 22 NOES: 0

(Absent: Legislator Ronk)

Passed Committee: Ways and Means on November 17, 2015

FINANCIAL IMPACT:

$176,260.00 – CAPITAL PROJECT NO. 336 APPROPRIATIONS

$176,260.00 – SERIAL BONDS-COUNTY

$141,008.00 – REIMBURSABLE FROM FEDERAL FUNDS

$ 35,252.00 – REIMBURSABLE FROM STATE FUNDS

 

STATE OF NEW YORK

 ss:

COUNTY OF ULSTER

I, the undersigned Clerk of the Legislature of the County of Ulster, hereby certify that the foregoing resolution is

the original resolution adopted by the Ulster County Legislature on the 17th Day of November in the year Two Thousand

and Fifteen, and said resolution shall remain on file in the office of said clerk.

IN WITNESS WHEREOF, I have hereunto set my hand and seal of the County of Ulster this 19th Day of

November in the year Two Thousand and Fifteen.

|s| Victoria A. Fabella

Victoria A. Fabella, Clerk

Ulster County Legislature

Submitted to the County Executive this Approved by the County Executive this

19th Day of November, 2015. 24

th Day of November, 2015.

|s| Victoria A. Fabella |s| Michael P. Hein

Victoria A. Fabella, Clerk Michael P. Hein, County Executive

Ulster County Legislature 

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Updated: October 27, 2020