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Amended Bond Resolution of the Town of Clarence


Type: 
Legal Notice
Date: 
May 25 2022
TOWN OF CLARENCE, NEW YORK PLEASE TAKE NOTICE that on May 25, 2022 the Town Board of the Town of Clarence, in the County of Erie, New York, adopted a resolution amending the bond resolution adopted by said Town Board on November 18, 2020, which bond resolution, as amended, is entitled: “Bond Resolution of the Town of Clarence, New York, adopted November 18, 2020 and amended May 25, 2022, authorizing the construction of a new Highway building, including site work and other related or ancillary work required in connection therewith; stating the estimated maximum cost thereof is $23,000,000; appropriating said amount for such purpose, including the expenditure of $3,300,000 in other available funds to pay a part of said appropriation; and authorizing the issuance of bonds in the principal amount of $19,700,000 to finance the balance of said appropriation,” an abstract of such bond resolution, concisely stating the purpose and effect thereof, being as follows: FIRST: AUTHORIZING said Town to construction a new Highway building, including site work and other related or ancillary work required in connection therewith; STATING the aggregate estimated maximum cost thereof, including preliminary costs and costs incidental thereto and the financing thereof, is $23,000,000; APPROPRIATING said amount for such purpose; and STATING the plan of financing includes the expenditure of $3,300,000 in other available funds to pay a part of said appropriation, the issuance of $19,700,000 bonds of the Town to finance the balance of said appropriation, and the levy of a tax upon all the taxable real property within the Town to pay the principal of said bonds and interest thereon; SECOND: AUTHORIZING the issuance of $19,700,000 bonds of the Town pursuant to the Local Finance Law of the State of New York (the “Law”) to finance a part of said appropriation; THIRD: DETERMINING and STATING the period of probable usefulness applicable to the purposes for which said bonds are authorized to be issued is thirty (30) years; the proceeds of said bonds and any bond anticipation notes issued in anticipation thereof may be applied to reimburse the Town 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 $19,700,000 bonds will exceed five (5); 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 Town; and PLEDGING to their payment the faith and credit of the Town; FIFTH: DELEGATING to the Supervisor the powers and duties as to the issuance of said bonds and any bond anticipation notes issued in anticipation of said bonds, and the renewals thereof, and other related powers; and SIXTH: DETERMINING that the bond resolution is subject to a permissive referendum. DATED: May 25, 2022 Clarence, New York Karen Hawes Town Clerk