NOTICE IS HEREBY GIVEN that the Board of Trustees of the Village of New Paltz (the “Village”), situated in the County of Ulster, in the State of New York, has adopted, on August 26, 2020, pursuant to the Local Finance Law of New York, a bond resolution which:
(1) authorizes the Board of Trustees of the Village to finance the costs of the construction of the East of Wallkill Emergency Operations Center and authorizes the issuance of up to $3,033,386 aggregate principal amount of serial bonds of the Village to finance such purpose, and
(2) states the estimated maximum costs of such construction to be not in excess of $8,356,440, states that such costs will be financed with (i) the issuance of obligations authorized in the bond resolution and (ii) approximately $5,323,054 in grant funds to be received from the Governor’s Office of Storm Recovery;, and sets forth the plan of financing of such cost of the purpose, and
(3) determines the period of probable usefulness to be twenty-five (25) years, and
(4) determines that the maximum maturity of such serial bonds will be in excess of five (5) years, and
(5) delegates to the Village Treasurer the power to prescribe the terms, form and contents of such serial bonds and to authorize the issuance of, and to prescribe the terms, form and contents of any bond anticipation notes issued in anticipation of the issuance of such serial bonds or renewals thereof, and to issue, sell and deliver such serial bonds and such bond anticipation notes, and
(6) states that the validity of such serial bonds or any of such bond anticipation notes issued in anticipation of the issuance of such serial bonds may be contested only if: (a) such obligations are authorized for an object or purpose for which the Village is not authorized to expend money, or (b) the provisions of law which should be complied with at the date of the publication of such resolution are not substantially complied with, and an action, suit or proceeding contesting such validity is commenced within twenty (20) days after the date of such publication, or (c) if such obligations are authorized in violation of the provisions of the Constitution of New York.
Such resolution is subject to a permissive referendum under the provisions of Article 9 of the Village Law and petitions protesting against such resolution and requesting that it be submitted to the electors of the Village of New Paltz for their approval or disapproval, may be filed with the Village Clerk at any time within thirty (30) days after the date of the adoption of such resolution.
By order of the Board of Trustees of the Village of New Paltz, New York.
Dated: August 26th, 2020
Village of New Paltz, New York