Resolution Information
RESOLUTION TEXT +-
Referred to: The Ways and Means Committee (Chairman Gerentine and Legislators
Bartels, Briggs, Belfiglio, Maio, Maloney, Provenzano and Rodriguez)
Chairman of the Legislative Programs, Education and Community Services
Committee, David B. Donaldson, and Deputy Chairman Mary Wawro offer the
following:
WHEREAS, by Resolution No. 94 dated and duly adopted on the date hereof,
the County Legislature of the County of Ulster, New York establishing Capital
Project No. 405 for the renovation and repair of the Kelder Center at Ulster County
Community College; 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 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
follows:
Section 1. The County’s share of the cost of the reconstruction of the Kelder
Center at Ulster County Community College, in and for the County of Ulster, New
York, including original equipment, machinery, apparatus, appurtenances and incidental
improvements and expenses in connection therewith, is hereby authorized at a
maximum estimated cost of $383,258.
Section 2. It is hereby determined that the plan for the financing of the
aforesaid maximum estimated cost is by the issuance of $383,258 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 specific object or purpose is twenty-five years, pursuant to subdivision
12(a)(1) of paragraph a of Section 11.00 of the Local Finance Law.
- Page 2 -
Resolution No. 95 March 18, 2014
Authorizing The County’s Share Of The Reconstruction Of Kelder
Center At The Ulster County Community College, In And For The
County Of Ulster, New York, At A Maximum Estimated Cost Of
$383,258, And Authorizing The Issuance Of $383,258 Bonds Of
Said County To Pay The Cost Thereof
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
- Page 3 -
Resolution No. 95 March 18, 2014
Authorizing The County’s Share Of The Reconstruction Of Kelder
Center At The Ulster County Community College, In And For The
County Of Ulster, New York, At A Maximum Estimated Cost Of
$383,258, And Authorizing The Issuance Of $383,258 Bonds Of
Said County To Pay The Cost Thereof
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 move its adoption.
ADOPTED BY THE FOLLOWING VOTE:
AYES: 23 NOES: 0
Passed Committee: Ways and Means on March 18, 2014.
FINANCIAL IMPACT:
NO FINANCIAL IMPACT TO COUNTY
($383,258.00 SERIAL BONDS REIMBURSED BY SUNY ULSTER)
- Page 4 -
Resolution No. 95 March 18, 2014
Authorizing The County’s Share Of The Reconstruction Of Kelder
Center At The Ulster County Community College, In And For The
County Of Ulster, New York, At A Maximum Estimated Cost Of
$383,258, And Authorizing The Issuance Of $383,258 Bonds Of
Said County To Pay The Cost Thereof
STATE OF NEW YORK
ss:
COUNTY OF ULSTER
This is to certify that I, the undersigned Clerk of the Legislature of the County of Ulster have compared the
foregoing resolution with the original resolution now on file in the office of said clerk, and which was adopted by said
Legislature on the 18th Day of March, 2014, and that the same is a true and correct transcript of said resolution and of the
whole thereof.
IN WITNESS WHEREOF, I have hereunto set my hand and seal of the County of Ulster this 20th Day of March
in the year Two Thousand and Fourteen.
|s| Victoria A. Fabella
Victoria A. Fabella, Clerk
Ulster County Legislature
Submitted to the County Executive this Approved by the County Executive this
20th Day of March, 2014. 24th Day of March, 2014.
|s| Victoria A. Fabella |s| Michael P. Hein
Victoria A. Fabella, Clerk Michael P. Hein, County Executive
Ulster County Legislature
Current Text: PDF
Updated: October 27, 2020
Votes on this Resolution
yes no abstained no voteCommittee Vote to Adopt Resolution No. 95
Vote to Adopt Resolution No. 95
Committee Vote to Adopt Resolution No. 95