Referred to: The Ways and Means Committee (Chairman Gerentine and Legislators
Archer, Bartels, Lopez, Maio, James Maloney, Joseph Maloney, and Petit)
Chairman of the Legislature, Kenneth J. Ronk, Jr, Chairman of the Economic
Development, Tourism, Housing, Planning, and Transit Committee, James F.
Maloney, and Legislator Nolan offer the following:
WHEREAS, by Resolution No. 307 dated and duly adopted on the date
hereof, the County Legislature of the County of Ulster, New York has amended
Capital Project No. 459 for the construction of the Ashokan Rail Trail for the
Department of Planning; and
WHEREAS, the capital project hereinafter described, 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 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 construction of the Ashokan Rail Trail, in and for the County of
Ulster, New York, including incidental improvements and expenses in connection
therewith, is hereby authorized at a maximum estimated cost of $8,250,281.00.
Section 2. It is hereby determined that the plan for the financing of the aforesaid
maximum estimated cost is by the issuance of $8,250,281.00 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 State or other grants-inaid 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 fifteen years, pursuant to subdivision 19(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.
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 1.140 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: 20 NOES: 3
(Noes: Legislators Donaldson, Greene, and
Passed Committee: Ways and Means on July 17, 2018
$8,250,281.00- ADDITIONAL 2018 CAPITAL APPROPRIATIONS
$8,250,281.00- ADDITIONAL CAPITAL REVENUES
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 July 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 19th Day of July 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 July, 2018. 23rd Day of July, 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 4, 2019
Votes on this Resolutionyes no abstained no vote
Committee Vote to Adopt Resolution No. 308
Vote to Refer Resolution Nos. 307 and 308 to TRAC Committee
Vote to Adopt Resolution No. 308