Resolution No. 78

Authorizing The Replacement Of The Sawkill School Bridge, In And For The County Of Ulster, New York, At A Maximum Estimated Cost Of $4,408,000.00, And Authorizing The Issuance Of $881,600.00 Bonds Of Said County To Pay Part Of The Cost Thereof

Resolution Information

Status: 
Adopted

RESOLUTION TEXT +-

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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. 77 dated and duly adopted on the date hereof,

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

Project No. 264 for the replacement of the Sawkill School Bridge over the Sawkill

Creek for the Department of Public Works (Highways and Bridges); 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 replacement of the Sawkill School Bridge over the Sawkill

Creek, including incidental site and other improvements and expenses in connection

therewith, in and for the County of Ulster, New York, is hereby authorized at a

maximum estimated cost of $4,408,000.00.

Section 2. The plan for the financing of the aforesaid maximum estimated cost

shall consist of:

a) the issuance of $881,600.00 bonds of said County hereby authorized to be

issued therefor, pursuant to the provisions of the Local Finance Law; and

b) the appropriation of $3,526,400.00 Federal grants-in-aid, hereby authorized to

be expended therefor.

 

Section 3. It is hereby determined that the period of probable usefulness of the

aforesaid specific object or purpose is twenty years, pursuant to subdivision 10 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 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

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 moves its adoption.

ADOPTED BY THE FOLLOWING VOTE:

AYES: 23 NOES: 0

Passed Committee: Ways and Means on January 26, 2016

FINANCIAL IMPACT:

$3,526,400.00 – 80% REIMBURSABLE FROM FEDERAL FUNDS

$ 881,600.00 – 20% SERIAL BOND PROCEEDS

 

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 

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Updated: January 29, 2019