Resolution No. 28

Authorizing The Issuance Of An Additional $688,000.00 Bonds Of The County Of Ulster, New York, To Pay The Additional Costs Of The Reconstruction Of The New Paltz Pool, In And For Said County

Resolution Information

Status: 
Adopted

RESOLUTION TEXT +-

Print

Referred to: The Ways and Means Committee (Chairman Gerentine and Legislators

Allen, Bartels, Belfiglio, Briggs, Maio, and Maloney)

Chairman of the Public Works and Capital Projects Committee, Dean J. Fabiano, and

Deputy Chairman Peter M. Loughran offer the following:

WHEREAS, by Resolution No. 209, dated and duly adopted on June 17, 2014

and by Resolution No. 27 dated and duly adopted on the date hereof, the County

Legislature of the County of Ulster, New York has established and amended Capital

Project No. 414 for the reconstruction of the New Paltz pool for the Department of

Public Works (Buildings and Grounds); 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, by said bond resolution dated June 17, 2014, the County

Legislature of the County of Ulster, New York, authorized the issuance of

$500,000.00 bonds of said County to pay the cost of the reconstruction of the New

Paltz pool, in and for said County, including incidental improvements and expenses

in connection therewith; and

WHEREAS, it has now been determined that the maximum estimated cost of

such specific object or purpose is now $1,188,000.00, an increase of $688,000.00

over that previously authorized; and

WHEREAS, it is now desired to authorize such additional 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 reconstruction of the New Paltz pool, including incidental

improvements and expenses in connection therewith, in and for the County of Ulster,

New York, is hereby authorized at a revised maximum estimated cost of

$1,188,000.00.

 

Section 2. The plan of financing for such specific object or purpose is as

follows:

a) by the issuance of $500,000.00 bonds of said County heretofore authorized to

be issued therefor pursuant to a bond resolution dated June 17, 2014; and

b) by the issuance of the additional $688,000.00 bonds of said 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 fifteen years, pursuant to subdivision 61 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 

 

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

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 January 26, 2016

FINANCIAL IMPACT:

$688,000.00 – SERIAL BONDS – ULSTER COUNTY FUNDS

 

STATE OF NEW YORK

 ss:

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 26th Day of January in the year Two Thousand and

Sixteen, 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 29th Day of January

in the year Two Thousand and Sixteen.

|s| Victoria A. Fabella

Victoria A. Fabella, Clerk

Ulster County Legislature

Submitted to the County Executive this Approved by the County Executive this

29th Day of January, 2016. 5

th Day of February, 2016.

|s| Victoria A. Fabella |s| Michael P. Hein

Victoria A. Fabella, Clerk Michael P. Hein, County Executive

Ulster County Legislature

Current Text: PDF

Sponsors: 

 

Updated: January 24, 2019