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

Allen, Bartels, Belfiglio, Briggs, Maio, and Maloney)

Chairman of the Law Enforcement and Public Safety Committee, Thomas J. Briggs,

and Deputy Chairman Ronald G. Lapp Jr. offer the following:

 WHEREAS, by Resolution No. 468 dated and duly adopted on the date

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

Capital Project No. 406 for the purchase and remediation of flooded homes damaged

during Hurricane Irene and Tropical Storm Lee; and

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

“Type I Action” pursuant to the regulations of the New York State Department of

Environmental Conservation promulgated pursuant to the State Environmental

Quality Review Act, which it has been determined 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 parcels of land and remediation thereof, in and for

the County of Ulster, New York, including purchasing the homes and remediating the

land for dedication of such the land in perpetuity for open space, recreational,

wetlands or flood mitigation purposes, including incidental expenses in connection

therewith, is hereby authorized at a maximum estimated cost to the County of

$150,917.00.

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

maximum estimated cost, being such cost to the County, is by the issuance of

$150,917.00 of serial bonds of the County hereby authorized to be issued therefor

pursuant to the provisions of the Local Finance Law.

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

aforesaid class of objects or purposes 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 s

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 Briggs)

Passed Committee: Ways and Means on November 22, 2016

FINANCIAL IMPACT:

$150,917.00 – COUNTY DOLLARS - SERIAL BONDS

$150.917.00 –ADDITIONAL STATE (25%) AND FEDERAL (75%) REVENUE

DOLLARS 

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 22nd Day of November in the year Two Thousand

and Sixteen, 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 23rd Day of

November in the year Two Thousand and Sixteen.

|s| Victoria A. Fabella

Victoria A. Fabella, Clerk

Ulster County Legislature

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

23rd Day of November, 2016. 30th Day of November, 2016.

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

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

Ulster County Legislature