Resolution No. 5

Authorizing The Issuance And Sale Of Up To $15,000,000.00 Revenue Anticipation Notes Of The County Of Ulster, New York, 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

Resolution Information

Status: 
Adopted

RESOLUTION TEXT +-

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Legislators Mary Beth Maio, Hector Rodriguez, and Kenneth Ronk offer 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, 2016 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: 23 NOES: 0

Passed Committee: Committee of the Whole on January 6, 2016

FINANCIAL IMPACT:

TO BE DETERMINED

 

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 6th 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 7th 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

7

th Day of January, 2016. 12

th Day of January, 2016.

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

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

Ulster County Legislature 

Current Text: PDF

 

Updated: January 28, 2019