LEGAL NOTICE
The bond resolution, a copy of which is published herewith, has been adopted on April 16, 2020, and the validity of the obligations authorized by such resolution may be hereafter contested only if such obligations were authorized for an object or purpose for which the Town of Pine Plains, Dutchess County, New York, is not authorized to expend money, of if the provisions of law which should have been complied with as of the date of publication of this notice were not substantially complied with, and an action, suit or proceeding contesting such validity is commenced within twenty days after the date of publication of this notice, or such obligations were authorized in violation of the provisions of the Constitution. Such resolution was subject to permissive referendum.
A complete copy of the resolution is also available for public inspection during regular business hours at the Office of the Town Clerk for a period of twenty days from the date of publication of this Notice. Dated: Pine Plains, New York, April 16, 2020.
BOND RESOLUTION DATED May 16, 2019
A RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF A STATUTORY INSTALLMENT BOND OF THE TOWN OF PINE PLAINS, DUTCHESS COUNTY, NEW YORK, TO PAY THE COST OF ACQUISITION AND DEMOLITION OF 12 NORTH MAIN STREET, PINE PLAINS, NEW YORK.
Specific object or purpose: Purchase of 12 North Main Street, Pine Plains, NY
Period of probable usefulness: 10 years
Maximum estimated cost: $230,000
Amount of obligation to be issued: $230,000 bonds
SEQRA status: Unlisted Action
JUDY HARPP, Town Clerk
04-23-20
TOWN OF PINE PLAINS
RESOLUTION AUTHORIZING THE PURCHASE OF THE REAL PROPERTY LOCATED AT 12 NORTH MAIN STREET, PINE PLAINS, NEW YORK AND AUTHORIZING THE ISSUANCE AND SALE OF STATUTORY INSTALLMENT BOND OF THE TOWN OF PINE PLAINS TO PAY THE COST OF ACQUISITION OF SAID PROPERTY AND DEMOLITION OF THE RESIDENCE LOCATED THEREON
WHEREAS, the Town Board desires to purchase the property located at 12 North Main Street, Pine Plains, New York, having tax parcel number: 134200-6872-18-412231-0000; and
WHEREAS, this property is improved by a multi-family residence; and
WHEREAS, the Town Board has determined to purchase this property for future municipal use, including, but not limited to, the use of the property to expand the Town’s municipal parking lot located near to this property to the south; and
WHEREAS, the Town Board has determined that after purchase of property, it will demolish the structures on the property in order to make the property ready for that parking area or other public use; and
WHEREAS, the Town Board has negotiated the purchase of the property for the sum of $100,000; and
WHEREAS, the Town Board has appraised the property and determined that the sum of $100,000 represents the fair market value of this property; and
WHEREAS, the Town Board has determined that the total cost for demolition of the building, including asbestos remediation, will be approximately $130,000; and
WHEREAS, the Town Board recently purchased the adjoining property at 8 North Main Street.
NOW, THEREFORE, BE IT RESOLVED by the Town Board of the Town of Pine Plains, Dutchess County, New York as follows:
Section 1. The maximum estimated cost of the property acquisition, asbestos remediation and demolition for this acquisition is $230,000.
Section 2. The plan for the financing of the purchase and related work is by the issuance of a General Obligation Statutory Installment Bond of the Town of Pine Plains, hereby authorized to be issued pursuant to the Local Finance Law in the maximum amount of $230,000.
Section 3. The Statutory Installment Bond will be dated on a date to be determined by the Town Supervisor, and will mature no more than five (5) years following the date of execution of the Bond with prepayment received and will bear interest in the name of the Town of Pine Plains by the Town Supervisor and by the Town Clerk and will be sealed with the Corporate Seal of the Town of Pine Plains.
Section 4. It is hereby determined that the period of probable usefulness of the aforesaid object or purpose is more than five (5) years, pursuant to Section 11.00 of the Local Finance Law. It is further determined that the maximum maturity of the Bond herein authorized will not exceed five (5) years.
Section 5. The full faith and credit of said Town of Pine Plains, Dutchess County, New York, are hereby irrevocably pledged to the payment of the principal of, and interest on, such Bond 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 Bond becoming due and payable in such year. There shall annually be levied on all the taxable real property in said Town a tax sufficient to pay the principal of, and interest on, such Bond as the same become due and payable.
Section 6. 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 Statutory Installment Bond herein authorized, including renewals of such Note, is hereby delegated to the Town Supervisor, the Chief Fiscal Officer. Such Notes shall be of such terms, form and content, and shall be sold in such manner, as may be prescribed by said Supervisor, consistent with the provisions of the Local Finance Law.
Section 7. The powers and duties of advertising such Bond of sale, conducting the sale, and awarding the Bond are hereby delegated to the Town Supervisor, who shall advertise such Bond for sale, conduct the sale, and award the Bond in such a manner as she shall deem best for the interests of the Town; provided, however, that in the exercise of the delegated powers, she shall comply fully with the Local Finance Law and any order or rule of the State Comptroller applicable to the sale of Municipal Bonds. The receipt of the Town Supervisor shall be a full acquittance to the purchaser who shall not be obliged to see to the application of the purchase money. The Town Supervisor shall be authorized to execute any and all documents and to perform any and all steps necessary to obtain financing incident to this purchase.
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. The validity of such Bond, and Bond Anticipation Notes, may be contested only if:
(1) Such Bond is authorized for an object or purpose for which said Town 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 (20) days after the date of publication, or
(3) Such Bond is authorized in violation of the provisions of the Constitution.
Section 10. This action is an Unlisted Action pursuant to Part 617 of the Rules and Regulations implementing the State Environmental Quality Review Act (SEQRA).
Section 11. This Resolution shall take effect immediately pursuant to Section 35.00(5)(2), and shall be published, in full, in the official paper, together with a Notice of the Town Clerk in substantially the form provided in Section 81.00 of the Local Finance Law.
Section 12. This Resolution is subject to a permissive referendum as required by law.
The question of the adoption of the foregoing Resolution was duly put to a vote on roll call on April 16, 2020 which resulted as follows:
Supervisor Cloud
Councilman Bartles
Councilman Chase
Councilwoman Jones
Councilman Zick
The Resolution was thereupon declared duly adopted.
Judy S. Harpp
Town Clerk
04-23-20
