Legislator Kenneth J. Ronk, Jr. offers the following:

BE IT RESOLVED, BY THE COUNTY LEGISLATURE OF THE COUNTY OF ULSTER, NEW YORK, AS FOLLOWS:

SECTION 1.     The power to authorize the issuance and sale of up to $15,000,000.00 Revenue Anticipation Notes of the County of Ulster, New York, outstanding at any one time, including renewals thereof, in anticipation of the collection or receipt of revenues estimated to be received from sales and compensating use taxes during the current fiscal year of said County commencing January 1, 2019 is hereby delegated to the Commissioner of Finance, the Chief Fiscal Officer, pursuant to Section A8-1(B) of the Administrative Code for the County of Ulster and Section C-53(B) of the Ulster County Charter. Such notes shall be of such terms, form and contents, and shall be sold in such manner as may be determined by said Commissioner of Finance pursuant to the provisions of the Local Finance Law.

SECTION 2.      The Notes hereby authorized, or any portion thereof, shall not be issued until such Commissioner of Finance shall have first filed with the County Legislature of said County a certificate providing for the details of such Notes, which certificates shall contain the statements required by Section 30.00 of the Local Finance Law.

SECTION 3. This resolution shall take effect immediately,

and move its adoption.

ADOPTED BY THE FOLLOWING VOTE:

AYES:     NOES:               

Passed Committee: Committee of the Whole on _______________.

FINANCIAL IMPACT:

TO BE DETERMINED