Referred to: The Ways and Means Committee (Chairman Gerentine and Legislators
Archer, Bartels, Lopez, James Maloney, Joseph Maloney, and Petit)
Chairman of the Public Works and Capital Projects Committee, Dean J. Fabiano, and
Deputy Chair Manna Jo Greene offer the following:
WHEREAS, by Resolution No. 145 dated and duly adopted on the date
hereof, the County Legislature of the County of Ulster, New York has established
Capital Project No. 525 for the reconstruction of various roads for the Department of
Public Works (Highways and Bridges Division); and
WHEREAS, the capital project hereinafter described, 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 effect 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
Section 1. The reconstruction of various roads throughout and in and for
the County of Ulster, New York, including drainage, sidewalks, curbs, gutters,
landscaping, grading or improving rights-of-way, as well as other incidental
improvements and expenses in connection therewith, is hereby authorized at a
maximum estimated cost of $425,000.00.
Section 2. It is hereby determined that the plan for the financing of the
aforesaid maximum estimated cost is by the issuance of not exceeding $425,000.00
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 fifteen years, pursuant to subdivision
20(c) 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 Finance shall determine consistent with the
provisions of the Local Finance Law.
Section 7. The validity of such bonds and bond anticipation notes may be
contested only if:
1) Such obligations are authorized for an object or purpose for which said
County is not authorized to expend money, or
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
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 move its adoption.
ADOPTED BY THE FOLLOWING VOTE:
AYES: 21 NOES: 0
(Absent: Legislators Eckert and Maio)
Passed Committee: Ways and Means on April 17, 2018
$425,000.00 – ADDITIONAL COUNTY FUND APPROPRIATIONS
$425,000.00 – ADDIIOTNAL REVENUES – SERIAL BONDS – COUNTY
STATE OF NEW YORK
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 April in the year Two Thousand and
Eighteen, 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 18th Day of April in
the year Two Thousand and Eighteen.
|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 April, 2018. 26th Day of April, 2018.
|s| Victoria A. Fabella |s| Michael P. Hein
Victoria A. Fabella, Clerk Michael P. Hein, County Executive
Ulster County Legislature
Current Text: PDF
Updated: February 1, 2019
Votes on this Resolutionyes no abstained no vote
Committee Vote to Adopt Resolution No. 146
Vote to Adopt Resolution No. 146