VILLAGE OF FREEPORT, NEW YORK
PLEASE TAKE NOTICE that on April 1, 2019, the Board of Trustees of the Village of Freeport, in the County of Nassau, New York, adopted a bond resolution entitled:
“Bond Resolution of the Village of Freeport, New York, adopted
April 1, 2019, authorizing the construction of various power plant
improvements, stating the estimated maximum cost thereof is
$355,350, appropriating said amount for such purpose, and
authorizing the issuance of bonds in the principal amount of
$355,350 to finance said appropriation,”
an abstract of such bond resolution, concisely stating the purpose and effect thereof, being as follows:
FIRST: AUTHORIZING said Village to construct various improvements to power plants owned and operated by the Village; STATING the estimated maximum cost thereof, including preliminary costs and costs incidental thereto and the financing thereof, is $355,350; APPROPRIATING said amount for such purpose; STATING the plan of financing includes the issuance of bonds or notes of the Village in the principal amount of not to exceed $355,350 to finance said appropriation, and the levy of a tax upon all the taxable real property within the Village to pay the principal of said bonds and interest thereon;
SECOND: AUTHORIZING the issuance of not to exceed $355,350 bonds of the Village pursuant to the Local Finance Law of the State of New York (the “Law”) to finance said appropriation;
THIRD: DETERMINING and STATING the period of probable usefulness applicable to the purpose for which said bonds are authorized to be issued is thirty (30) years; the temporary use of available funds of the Village, not immediately required for the purpose or purposes for which the same were borrowed, raised or otherwise created, is hereby authorized pursuant to Section 165.10 of the Law, for the capital purposes described in this resolution and the proceeds of said bonds and any bond anticipation notes issued in anticipation thereof may be applied to reimburse the Village for expenditures made after the effective date of this bond resolution for the purpose for which said bonds are authorized; and the proposed maturity of said bonds will exceed five (5) years;
FOURTH: DETERMINING that said bonds and any bond anticipation notes issued in anticipation of said bonds and the renewals of said bond anticipation notes shall be general obligations of the Village; and PLEDGING to their payment the faith and credit of the Village;
FIFTH: DELEGATING to the Village Treasurer the powers and duties as to the issuance of said bonds, and any bond anticipation notes issued in anticipation of said bonds, or the renewals thereof; and
SIXTH: DETERMINING that the bond resolution is subject to a permissive referendum.
DATED: April 1, 2019
Pamela Walsh Boening
Village Clerk