https://sleepyhollow.localarchives.org/files/original/3971c473e9bb1688900424813530468c.pdf 29cb57e515c3fcb4b724961ac9317d38 PDF Text Text 337 A Special meeting of the Board of Trustees was held on Monday, December 23,2002 at 7 pm for the purpose of adopting a resolution authorizing additions to the bond issue. Present: Mayor Philip Zegarelli Mario DiFelice Richard Spota Richard Zieja Donald Stever Trustees Also Present: Dwight Douglas, Village Administrator Absent: Trustee James Hart Trustee Robert Higle Mayor Zegarelli called the meeting to order and commented that this is a special meeting for the purpose of ratifying the bonding of the debt that we have put together over this last year. Bonding Resolution-Attached There being no further business, Trustee Stever moved, seconded by Trustee Spota to adjourn the meeting, carried. Respectfully submitted, Angela Everett Village Clerk �352 Meeting Date: 12/23/02 R e s o l u t i o n #: . 1 2 / 1 8 0 / 0 2 BOND RESOLUTION, DATED December 2$ 2002, AUTHORIZING THE ISSUANCE OF UP TO $97,400 AGGREGATE PRINCIPAL AMOUNT SERIAL BONDS OF THE VILLAGE OF SLEEPY HOLLOW, NEW YORK, PURSUANT TO THE LOCAL FINANCE LAW7, T O FINANCE THE COSTS OF THE ACQUISITION OF A SANITATION TRUCK IN AND FOR THE VILLAGE. WHEREAS, the Board of Trustees of the Village of Sleepy Hollow (the "Village"), located in County of Westchester, in the State of New York (the "State"), hereby determines that it is in the public interest of the Village to authorize the financing of the cost of the acquisition of a sanitation truck in and for the Village, at a total cost not to exceed $97,400, in accordance with the Local Finance Law; NOW, THEREFORE, BE IT RESOLVED by the Board of Trustees of the Village of Sleepy Hollow, as follows: Section 1. There is hereby authorized to be issued serial bonds of the Village in the aggregate principal amount of up to $97,400, pursuant to the Local Finance Law, in order to finance the cost of the specific object or purpose hereinafter described. Section 2. The specific object or purpose to be financed by the issuance of such serial bonds is the cost of the acquisition of a sanitation truck in and for the Village (the "Project"). Section 3. The Board of Trustees of the Village has ascertained and hereby states that (a) the estimated maximum cost of the Project is $97,400; (b) no money has heretofore been authorized to be applied to the payment of the cost'of the Project; (c) the Board of Trustees of the Village plans to finance the cost of the Project from the $97,400 proceeds of the serial bonds or bond anticipation notes authorized herein; and (d) the maturity of the obligations authorized herein will not be in excess of five (5) years. 40150vl �33 Section 4. It is hereby determined that the Project is a specific object or. purpose described in subdivision 28 of paragraphia of Section 11.00 of the Local Finance Law and that the period of probable usefulness of the Project is fifteen (15) years. The serial bonds authorized herein shall have a maximum maturity of five (5) years computed from the earlier of (a) the date of such serial bonds, or (b) the date of the first bond anticipation notes issued in anticipation of the issuance of such serial bonds. ' • ' Section 5. Subject to the terms and conditions of this Resolution and the Local Finance Law, and pursuant to the provisions of Sections 21.00, 30.00, 50.00, 56.00 and 60.00, inclusive, of the Local Finance Law, the power to authorize bond anticipation notes in anticipation of the issuance of the serial bonds authorized by this Resolution and the renewal of such bond anticipation notes and the power to prescribe the terms, form and contents of such serial bonds and such bond anticipation notes authorized by this Resolution, and the power to issue, sell and deliver such serial bonds and bond anticipation notes are hereby delegated to the Village Treasurer, as the chief fiscal officer of the Village. The Village Treasurer is hereby authorized to execute on behalf of the Village all serial bonds issued pursuant to this Resolution and all bond anticipation notes issued in anticipation of the issuance of such serial bonds, and the Clerk of the Village is hereby authorized to affix the seal of the Village to all such serial bonds arid all such bond anticipation notes and to attest such seal. Each interest coupon, if any, representing interest payable on such serial bonds shall be authenticated by the facsimile signature of the Village Treasurer. Section 6. The faith and credit of the Village is hereby and shall be irrevocably pledged for the punctual payment of the principal of and interest on all obligations authorized and issued pursuant to this Resolution as the same shall become due. 2 �3Y° Section 7. When this Resolution takes effect, the Clerk of the Village shall cause the same to be published together with a notice in substantially the form prescribed by S6ction 81.00 of the Local Finance Law in The Journal News, a newspaper having a general circulation in the Village. The validity of the serial bonds authorized by this Resolution and of bond anticipation notes issued in anticipation of the sale of such serial bonds may be contested only if such obligations are authorized for an objects or purposes for which the Village is not authorized to expend money, or the provisions of law which should be complied with as of the date of the publication of this 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 if such obligations are authorized in violation of the provisions of the Constitution of the State. Section 8. Prior to the issuance of obligations authorized to be issued by this bond resolution, the Board of Trustees of the Village shall comply with all applicable provisions prescribed in Article 8 of the Environmental Conservation Law, all regulations, promulgated thereunder by the New York State Department of Environmental Conservation, and all applicable Federal laws and regulations in connection with environmental quality review relating to the Project (collectively, the "environmental compliance proceedings"). In the event that any of the environmental compliance proceedings are not completed, or require amendment or modification subsequent to the date of adoption of this bond resolution, the Board of Trustees of the Village will re-adopt, amend or modify this bond resolution prior to the issuance of obligations authorized to be issued herein upon the advice of bond counsel. It is hereby determined by the Board of Trustees of the Village that the Project will not have a significant effect on the environment Section 9. For the benefit of the holders and beneficial owners from time to time of the bonds and bond anticipation notes authorized pursuant to this resolution (the "obligations"), the 3 �3Y( - Village agrees, in accordance with and as an obligated person with respect to the obligations, under Rule 15c2-12 promulgated by the Securities Exchange Commission pursuant to the Securities Exchange Act of 1934 (the "Rule"), to provide or cause to be provided such financial information and operating data, financial statements and notices, in such maimer, as may be required for purposes of the Rule. In order to describe and specify certain terms of the Village's continuing disclosure agreement for that purpose, and thereby to. implement that agreement, including provisions for enforcement, amendment and termination, the Village Treasurer is authorized and directed to sign and deliver, in the name and on behalf of the Village, the commitment authorized by subsection 6(c) of the Rule (the "Commitment") to be placed on file with the Village Clerk, which shall constitute the continuing disclosure agreement made by the Village for the benefit of holders and beneficial owners of the obligations in accordance with the Rule, with any'changes or amendments that are not inconsistent with this resolution and not substantially adverse to the Village and that are approved by the Village Treasurer on behalf of the Village, all of which "shall be conclusively evidenced by the signing of the Commitment or amendments thereto. The agreement formed, collectively, by this paragraph and the Commitment, shall be the Village's continuing disclosure agreement for purposes of the Rule, and its performance shall be subject to the availability of funds and their annual appropriation to meet costs the Village would, be required to incur to perform thereunder. The Village Treasurer is further authorized and directed to establish procedures in order to ensure compliance by the Village with its continuing disclosure agreement, including the timely provision of information and notices. Prior to making any filing in accordance with the agreement or providing notice of the occurrence of any material event, the Village Treasurer shall consult with, as appropriate, the Village Attorney and bond counsel or other qualified independent special counsel to the Village. "The Village Treasurer acting in the name and 4 �3V:A on behalf of the Village, shall be entitled to rely upon any legal advice provided by the Village Attorney or such bond counsel or other special counsel in determining whether a filing should be made. Section 10. The Village hereby declares its intention to issue the obligations authorized herein to finance costs of the Project. The Village covenants for the benefit of the holders of the . obligations authorized herein that it will not make any use of the proceeds of such obligations, any funds reasonably expected to be used to pay the principal of or interest on such obligations or any other funds of the Village, and will not make any use of any of the equipment financed with the proceeds of such obligations which would cause the interest on such obligations to become subject to Federal income taxation under the Internal Revenue Code of 1986, as amended (the "Code"), (except for the alternative minimum tax imposed on corporations by section 55 of the Code) or subject the Village to any penalties under section 148 of the Code, and that.it will not take any action or omit to take any action with respect to such obligations, the proceeds thereof or any of the vehicles financed thereby if such action or omission would cause the interest on such obligations to become subject to Federal income taxation under the Code (except for the alternative niinimum tax imposed on corporations by section 55 of the Code) or subject the Village to any penalties under section 148 of the Code. The foregoing covenants shall remain in full force and effect notwithstanding the defeasance of the bonds or any other provisions hereof until the date which is sixty (60) days after the final maturity date or earlier prior redemption date thereof. The proceeds of any obligations authorized herein may be applied to reimburse expenditures or commitments of the Village made for such purposes on or after a date which is not more than sixty (60) days prior to the date of adoption of this Resolution by the Village. Section 11. This Resolution will take effect immediately upon its adoption. Moved: Trustee DiFelice' Seconded: Trustee Stever Vote: 5-0 Trustees DiFelice, Stever, Spota; and Zieja voted YES. Mayor Zegarelli voted YES. 5 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Board of Trustees Meeting Minutes & Resolutions-2002 Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource MINS_TRUST_2002-12-23 Subject The topic of the resource Board of Trustees Minutes-2002 Date A point or period of time associated with an event in the lifecycle of the resource 2002 Rights Information about rights held in and over the resource Village of Sleepy Hollow All Rights Reserved. Type The nature or genre of the resource Text