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Bond Resolution for Highway Grader

Bond Resolution for Highway Grader




NOTICE IS HEREBY GIVEN that at a special meeting held on the 21st day of January, 2020, the Town Board of the Town of New Lebanon, Columbia County, New York, duly adopted a bond resolution entitled “BOND RESOLUTION DATED JANUARY 21, 2020; A RESOLUTION AUTHORIZING THE ACQUISITION OF A 2015 JOHN DEERE MOTOR GRADER FOR HIGHWAY PURPOSES AT AN ESTIMATED MAXIMUM COST OF $162,900, THE ISSUANCE OF SERIAL BONDS OF THE TOWN OF NEW LEBANON, COLUMBIA COUNTY, NEW YORK, IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $142,900 PURSUANT TO THE LOCAL FINANCE LAW TO FINANCE A PORTION OF THE COST THEREOF, PROVIDING THAT THIS RESOLUTION SHALL BE SUBJECT TO A PERMISSIVE REERENDUM AND DELEGATING CERTAIN POWERS IN CONNECTION THEREWITH TO THE TOWN SUPERVISOR”, an abstract of which follows, which resolution is subject to permissive referendum pursuant to Section 35 of the Local Finance Law and Article Seven of the Town Law of the State of New York.


Said resolution authorizes the acquisition of a 2015 John Deere motor grader for highway department purposes, having an aggregate estimated maximum cost of $162,900, and a period of probable usefulness of 10 years.  The resolution further authorizes the issuance of serial bonds of the Town of New Lebanon, Columbia County, New York, in an aggregate principal amount not to exceed $142,900 pursuant to the Local Finance Law to finance a portion of the cost thereof, with a proposed maturity in excess of 5 years, and delegates certain powers to the Town Supervisor.


It has been determined that such purpose constitutes a Type II action as defined under the State Environmental Quality Review Regulations, which will not have a significant effect on the environment.


Said resolution shall take effect thirty days after adoption, unless there shall be filed with the Town Clerk a petition signed and acknowledged by the electors of the Town qualified to vote upon a proposition to raise and expend money, in number equal to at least five percentum of the total vote cast for governor in the Town at the last general election held for the election of State officers, protesting against the resolution and requesting that the matter be submitted to the qualified electors of the Town at a referendum in the manner provided by the Town Law.


A copy of the resolution is available for public inspection during normal business hours at the Office of the Town Clerk, located at the Town Hall, 14755 Route 22 North, New Lebanon, New York.


Dated: January 21, 2020


Marcie Robertson

Town Clerk