HomeMy WebLinkAbout1927_06_09 Town Board Minutes V71`1
SPECIAL hEnTlIG OF THE TOWN BOARD
TOTE OF -:iii AROPECK
held June -% 1927
------------------
The meeting was called to order by Supervisor Burton
at 8: 00 P . 1.
Present: supervisor Burton
Justices Boys , Collins , Howell and Leeds
Town Clerk Sherman
Absent: None ,
The following resolution was offered by justice Boyd
and seconded by Justice Collins , to-wit.
W1,_L,'JJZAS, by Chapter 654 of the Laws 1Y27
the Towh of namaroneck was authorized joint-
ly with two or more vunicQalities to
acquire , construct , lorvide , maintain and
ooerate a Water'Worhs System; and
TKERIAS: said Town jointly with the Twwlln
of Harrison and the Villa 8e of LamaroneclF
has caused to be formed and organized a
joint oater worid Known and d1signated as
"Westchester Joint later Works No. 1" ; and
WHEREAS, lreceedinls have been duly and
regularly token as authorized and required
by said Chapter 654 of the Laws of 1927 in
order ,to authorized the Town Board to sub-
mit to the electors of said Town a grojosition
for the acquisition of a water workT systal
and the issuance of bonds ; and
WHEREAS, at a soeci& town meeting My and
regularly called, held and nonducted in said
Town on the 27th day of Lay , 1927 , ntheyTorn
of Hanaronech was authorized to issue water
bonds in the amount of 00 , 000 for the Dur-
l• se of defraying its projortionyte share -bf
the cost of acquiring toe water works systern,
n owned by the New York inter Urban Water
Company by the Westchester Joint 'V.Fater
No, 1 , wn.2 for additions , betterments and.
improvements thereto ; and
it is necessary at this time to
issue 1131 ,000 bonds of said authorized.
amount , the Town hereby reserving the rQht
to issue the remainder of the amount author-
ized at some future ti_e , no-w, "therefore , loe it
MOLVED, tnat there shall be issued One
hundred thirty-nine thousand dollars ( 039 ,( 00),
Water Works System Bonds of the Town of Hama-
roneck , dated the first day of June , 1927 ,of the denomination of One Thousand nollais
( 101 , 000) each, nu__bered iron one (2 ) to one
hundred thirty-nine (139) both inclusive ,
maturing 0'i n'__--.,-_erica2 order V ree ( 3) Vni-s
on the first nay of June in each of the years
1M to 104i both inclusive , and four ( 4)
bonds on the firot 6a" of June in each of
the years 1942 to 2961 both inclusive ; that
KaQRSpgaghall bear interest at a rate of
6 five yer cent um yer annum
naynb3e semi-annually on the first days of
December and June in each year and shall
have interest cou3ons attached, That said
b bonds shall be signed by the Supervisor of
said Town , and sealed with the corporate
seal of said Town , attested by the Town
Clerk , and the interest coupons shall be
signed with the fac-sinile signature of
said Supervisor and- that both principal
and interest shall be payable in gold coin
of the United States of America of the
present standard wei6ht and fineness , or its
equival8nt in lawful money of the United
States , at the National Bank of Commerce
in the City and State of Yew York, further
R_DSOL'C��D, that said bonds shall be issued kn
substantially the following form, to-wit:
UNITED STATES OF AMERICA
STAZE OF NEW YORK
OF
T O WN
W
ZTET' 7,TOR-T�,Q3 S'ISTIT� 30ND
No , 11 ,00O. Co
KNOW All KEY BY THESE PRESENTS, that the Town of
Kamaraneck , a nuniciya2 corgaration in the County of Westchester,
State of New York , hereby ackpouledleg its indebtedness and for
value received promises to pay to bearer on the first day of June
the Sum Of ONE THOUSAPT) DOILA?S Q , COO. Q , together with
interest thereon from the qate hereof at the rate of
-,er cenl
pper annum, gayable semi-aanual.2y on the first aals of
June and December uycn oresentation and surrender of the annexed
interest coupons as the same resDectiveiy mature. Bot pr
h incinal
and interest of this bond are ;ajable in gold coin of Q, United
States pf Ameri a of the resent standart weilht and fineness , or
its equivalent in lawful money of the United States at he national
Bank of Commerce in the City afd State of New Yofk,
This bond is issued for the pur7oss of TayinZ the Town
share of the cost of the acouisition of a water works system by
Westchester Joint Water works Yo0 2 and for additions , bettermAnts
and inpnave?,.ient3 thereto , pursuant to and in strict comQiance with
the Constitution and statutes of the State of NeT York , including
among others chapter 654 of the Laws of New York of 1J27 , waroved
Aril 4, 1027 , and proceedinzs of the Toyn Dcard of said Town duly
had end token in all rescects anthorizinE the same and rsvant to ohe
authority conferred by the vote of a majority of all the votes cast
on t>e Proposition for the issaance of this Lond at a special town
neeting duly and legally called, held and conducted in said Town on the
2"th day of Yay 1 ,27,
it is hereby certified , recited ant declared that all
acts , ncnditions and thin,s required to exist , to hag?en and to be
performed grecedent to -_--._nd in the issuance of this bond, existed, have
hasoened and have been ' e formed in due time , form and manner as
required by law; that the issue of bonds of rhinh this is one , to-
Esther with all other indebtedness of said Town, is wit"in ever ,
debt and other liwit irescribed by the &nstitttion nd Laws of y
the
State of hew York , and tAat due vrovieion Aas been Sade for raising
annually by tax on phi; taxasle groperty of said Tjwn , a sum sufficient
to �ay the princi ne
,al and interest of this bond as the sane resctively
beci11me due and _''al able . The fQJ faith and credit of said Town are
herby irrevocably pledged to the nunctual §ayment of the princi al
and interest of "his boric'., accordirg tr its ten,,Ls .
Tnis bond. -iay be reoi s ilered. as t0 rinc I �a2 on] Y as vel_.1
as I - L) -
�,o co�h -,-ri �ci aI and. 4n4-e-es' 1i7 actor"!-nce 31 tfi -he ,rovlslcns
of the General 1.1-anic-iJad Lair,,,. if t l.`.s bond. be ._Sistered as to both.
r.l.n c I ",a] an d i n t e r e�1-1 � the Merest hereon a,� -11-ne recLlect of the
redi9t --l-ed ow_ncr II be re,Wltterl M
_a:Lj. in I\Tp
o rk C C n I,I C
TY "TITITIESS WHEFI]07, the said To-vim of -I.TaLL_ayonec -: has
-aused this ;=d to be s_- -Ped b il 's Suj-perv` q_cr, ndl sealed w- j-h
cor,-,3rate scal Of said. To-wn , attested b-Y its Tovrn Clerk and the interest
co,L.L-ons hereto annexed to be si,--ned iriith the siEnature of
s
_yid. S u.-e r v i s o r , and. t. s u0nd t-o iie d,--_t e 6. s Of t?1 e first J un 1 a a,T o e
j 27e
OF jHp__APILI,I,II_D�,v
s Tj 7,--,—7177-
A'TT E T:
17- ILY
(Ful-,21d or
D c emb c r I the T cvm o f
On the first day of June 9 ,'7— 1
1,10-naroneclk in the count„o OF 17estchester, Yew York , will -pay to bearer ;
t1 i.e '-um o f
Doll�ars of Commi.erce in the
City of and State of Nev Ycrl -, bein',,,- -ix interest then due
on its pater VTorks S-I,,-steLq Bond, dated 'Tune ! , IC/)27.
s UP E E-V is 0"R
OF =GISrTRATIOW AS Di -PRI-IT'll-P.Ai. OMY.
Ti.-Lis bond riay be re�_Jste-_�ed by the owner in his name as
I I -
to jrinc7.. a2 under '61ie Sinatlzre Of t'-e TI-im Clerk of the T,_,rm of
L, U1 L
_a:ffarjneck , ,re-lthester Coiunt,7, New York , Or ,)t_'hcr Reist-f--,-r, beloi�,.r,
and, shall tnere-after be transferabic ^nI .on -1
ne -1-iritten ent of
E re.-asteied o-viner or his attorney, duly ackp_,,,*vi_eded or Jroved, sa-h r
and trG�Sfer to Je --ade on ',Xis -uoohe of Ir
s :_ �,,L -
- �:rn Cler" 0--
other _r:eg-_strar $ and F. not Ajon thereof to be ma-de hereon, 3-On
zransfer _a-, be to b,ajLaj:I , aft ---- L 4 s bona shall be subl ect to
subsec:u6nt reisz_rations ajd
rF_nsfers as before,. 21-le
re?maAn to bearer no-,Tiitli.standing s-c-c_1 re.i_stration unless this
bond shall be converted into a f�.Ol.y -registered bond b,'I surrender aid.-n
aace-llation shall be noted on s P-i d books and bond, The
3 rin 01"_,al Of this bond, if rc-__'isterled, will be to the registered.
vm
..er or his le._-Jl re:�reSentati. 4es , successors or assj_="nsm
Date of Registry; Name of Registered Owner; Signature of Registrar
CERTIFICATE OF C.(VERSION INTO A FULLY REGISTERED LUND
Uron the written request of the oTne£' of the within
bond ofr its conversion into a fully registered bond., 1 have this day
cut off and Aestroyed
coil ,ons annexed to this bond a:oun'.,inZ in the aggregate to
Dollars `.
and the interest on this oon:,' at the rate and on i,h .kites T's Was--
V rovided a; she coupons as well as the principal thereof , will hereafter
be asid to _
le--al re_resent:.ti'ves successors or assigns , at the ,lace of oayment
specified therein , or , at the request of thL registered owner , he
interest will be remitted tv mail in New " rk exenanZe. This bond
hereafter will be transferable on the `cooks of the Town Clerk or other
Registrar only on presentation of he same with a written assignment duly
acknowledged or proved.
Dated. _ w-._.•___z. ., 1Q
^P ( Official Title; —�
Date of registry: Name of Registered- owner: Signature of Registrar:
FURTHER
RESOLVED, that there shall be levied,
assessed and collected annually ugon the
taxable property of said To wn a sum
sufficient to ay the princi.al and
interest of said bonds as the same
rest'ectiv'ely become due and pa.ya.ble , further
RESOLVED, that the sum r_ecessarc to ;ay the
principal and interest of said bonds nay be
provided for and included in the writer rates
or ra.i- ded n otherwise J rovid'ad in s 7,id
Chapter 654 of the Laws1n? , but this
provision shall in no wise 7 i3it or control
the Dowar and duty of the Town Board to
assess , levy and collect an annual tax
sufficient to pay the principal and interest
of said bonds as .he same res._:ectively became
due and ?ayable ,
The foregoing resolution was duly put to a vote and
unani'.,usly adopted:
AYES:
Six
ols . None
The resolution was declared duly adigteda
The following resolution was offered by justice Collins
and secinded by justice Howell , to-wit-
"'-L eAS, -�uranant to authority conferred
by Chapter Q04 of the Laws of 1927 , a oron-
osition was duly submitted to the electors
of the Town of —amaronack to issue water
bonds in the aAount of J"06 ,000 for the
purpose of purchasing a water distribution
system in said Town now owned by the New
York Inter Urban Water Comany and said qzop-
osition was duly adopted by the electors ; snow
therefore , be it ,
RESOLVED, that there shall be issued
One hundred fifty-six thousand dillars
MA , m) Water Distribution System Bonds
of the Town of Lamaroneck , dated the first
day of June, 3927 , of the denomination of
One thousand dollars each, ntuabered
from one (ly to one hundred fifty- six
(415) both inclusive , maturing in numerical
four Q) bonds on the first day of June in
each of the years 1.929 to 1962 both inclusive ,
and five ( 5) bonds on the first day of June
in each of the years 19043 to 1966 both
inclusivey that said bonds shalloblar.interest
at a rate of not Jxceeding five ]eercentn-,_ijar
annum 3ayable semi-annually on the first days
of December and June in each year and shall
have interest coupons attached. That said
bonds shall be signed by the Supervisor of
said Town , and sealed with the corporate
seal of said Town attested by the Town C! e±k
and the interest cou--,ons shall be signed vath
the fac-simile signature of said Supervisor ,
and that both rincipal and interest shall .
be payable in gold coin of the United States
of America of the yrosent stataard weightand
fineness or its equivalent in laNiul ioneyf
the United States , at the Eational Bank of
Commerce in the City and State of hew York,
further,
RESOLVED, that said bonds shall be issued
in substantially the following form, to-wit •
UNITED STATES OF ALERICA
STATE OF YEW YORK
TOWN OF LAYAROZECK
WATER DISTRI30TION SYSTEN BOND
Yo , 1 ,000no
ALL B7 THESE 272SEHTS, that the Town of
lawaroneck , a municipal corporation in the County of Westchester,
State of Eew fork, hereby acknowlegges its indebtedness and for Me
Value Toceived nromises to yay to bearer on the first day of June ,
M_, the sum Of OIE THMSAM DOLLARS ( fa , 000, Co) , together with inter-
est thereon from the date hereof at the rate of ^er
cent um oer annum, payable semi-annually on the first ATs of June and.
December uoon presentation and surrender of the annexed interest conyons
as the same respectioely natuie. Both principal and interest of this
28
bond are gayable in gold- coin of the United States of kmie�rlca of the
,r&sen.- s�andard m,,P.Jrht fineness or its em�-ivalent -n lawfu..
L - � and i I
money of the United States at the Natfona'! Bank of ^ommerc- in the
C . and. State of iJew York,
This -bond is issued for the a-j=ose of -ourchasirg the
mater distribution syste,d in c ,. d. Town now ov,,,-ned by t J.
e ZIeT fork Inter Urban 'Yater Corlpanjr pursuar t to �i.nd. in strict
coy.:)I J an be vii th
the Constitution and Statutes of the State ) C Yevw York , including
an-on7 others Chapter 6`4 of the Lars of lquj, Yor - of 1927 , a-,proved
A.Dril 4 , 1 927 , nd proceedings of the Town Beard of said Town duizr
had and taken in all respects authorizing the sai,2e and -pursuant to the
authorlt-,, conferred by the vote of p-, -- 1
jjajo-�ity of F,11 the- e votes cast
On the --ro-posit-Jon for tn.- issuance of this b3nd at a special. town
I L
meeting duiy and legally called, held and conducted in said Toln'r on the
27th day Of. La,-v 1927,
is I'rb-y certified recited and
le ere , declared that all
act-9 , conditions and tLi-n6s required to exist , to na-.- en and to be
jpe.c'foymed precedent to and in tiie issuance of this bond, existed , have
ha.;-,,ened and have been performed in due time , fomi and r,anner as
required by law; that the iss,-,,,e of bonds of w�iich this is one , together
�"Iith all other indebtedness of said Town , is niithin every debt and
other limit prescribed by the Constitution and Laws of the State of
New York , and that due provision has been iiiade for raising annually by
tax or the tc^,xable -rD-erly of said Town , a, sum sufficiert to �ay
.1 � - U� - 1. a
the -crinci-al and interest -.)4' this b-11' as 1-Le same resoectivel-,, beconA
r7,u e and -,al ab Is The full faith and creel 4 1 c-P s F�, d c
- -- n are hsreb-,�
irrevocably pledged to the .-unctual of the and
interest- n� terms ,
of this bond according to its fjjs .
This bond may be registered as to rincice.l onlY as v,-,ell
as to bot?t and. interest in e;.ccorda-rce s:,,,-'Ith the provisions of
the General- L.-,unicJ.jp-@,l Lrpw. if this bond be registered as to both
-�rinc--gal and interest hereon at the request of the registered owner
Drill be remitted by mail in 11ew York exchange.
!1,T Vy'IT-I'TESS 'V ELREOF, the said Town of -,1'2maronec!/ has
caused this bond to be signed -ty its Supervise- and sealed -,T,,ith the
colri,orate seal of said Town , attested by is Town Clerk , and the inter-
est oupons hereto annexed to be signed v,—� th t1r.e signature Of said Su-�erv' sor , an.,. is bond to be dated as of the Ills, of
June , 10.,27 .
Tom of
1�-
�y
-per isor
Attest:
-2�
Tx,im Cleric
December
On the first day of June the To'uin of
P''lama,ro-eck , in the Ccvnty of -,,Vestchester, lqe,.Py York , viill, pay to
bearer the suxi of
the Nation@,'- Bank of Commaroe in 'he
City and State of New York , being six nonths ' interest then due
on 1+s Tater---D19trjbutian S-:'stem Bond, dater,' Tune 2 c 2927 , No.
S UP ERV I S R
4 ;-7
OILY
CERTIFICATE OF EEGIS1'RAT100 AS T") -,DR-1M2Y'J, 0-,7,,-,Y
This Bond, ma / be registered Say the owner in his nave as
to pTincQal under the signature of the Tonn Clerk of the Town of
kamaroneck, Westchester County , New York , or other Registrar , below,
and shall thereafter be transferable only upon the written assignment
of the registered owner or his attorney, duly acknowledged or proved ,
such registration and tr m
ansfer to be ade on the books of said Town
Clerk or other Registrar , and a notation thereof to be made hereon.
Such transfer may be to bearer , after which this bond shall be subject
to subsequent registrations and transfers as before, The coupons rill
remain payable to bearer notwithstanding such registration unless this
bond shall be converted into a fully registered bond -by the surrender -,-
and cancellation of coupons , which surrender cancellation shall be noted
on said books and uDon this bond, The principal of this bond, if
registered, will be payable to the registered owner or his legal
representatives , successors or assigns.
Date of Registry: Name of Registered Owner; Signature of Registrar:
CERTIFICATION Q COMMON MO A MLY REGISTERED BOND.
Lyon the written request of the owner of the within bond
for its conversion into a fully registered bond , I have this day cut off
and destri yed. coupons annexed to this bond
amounting in the aggregate to
Dollars and the interest on this bond at the rate
and on the dates as was provided Uy the coupons , as well a,s the i-orinci-r
al thereof , will hsreafter be laid to
l- g •l representatives ; successors or assigns , Ent
the place of -a..-ment scecified therein , or, at the request of the
registered owner , the interest will be remitted by mail in New jorh
exchan6e. This bond hereafter will be transferable on tne Uooks of the
Town Clerk or other Registrar only on Dresentation of the same with a,
written assignment duly acknowledged or proved,
Dated Ic
------;(Official-- Title;---- ---------
Date of Registry: Name of Registered Owner: SiEnature of Registrar.
further,
RESUIVID THAI' EF2' SHATT, BE levied ,
assessed and collected annually u0sn
the taxable property of said Town a sum.
sufficient to gay the grinciyal and interest
of said bonds an the same Teslectively
become due and §ayable , further ,
FES01VED, that the cam necessary to pay the
Trincinal and interest of said bonds soy
be provided for and include? in the water
rates or raised an otherwise provided in
said ChaTter 6.44 of th Lane if 20.21, , but
this provisiDn shM in noTise limit o_
control the nower and duty of the Tpwr Bowd
to assess , A ard collect an annual ta--.,
sufticient to lay the lrinoi70 and interest
of said bonds as the same r%ective2y
become due and payable,
The ,foregoing resolution Tas duly jnt to a vote and
unanimously ado.oted,
AYIS; Six
10 ES: NOne
The renalution T •2 declared duly adopted,
The fo2lc7inE resolution was offered by justice Howell
and seconded by Justice Leeda, to-wit;
MSOMD; that the SugervizDr advertise t1 he
sale of said QQM�� ,000 , Water Yorks System
Bonds , heretofore dQy authorized to be
issue?, such notice of sale to be published
in the Daily Times in the Town of Hama-
roneck at least five days before and exclud-
ing the date of sale , and also to be nub-
lished in the City of New York , such notice
of sale to be in sub stattially the followt
ing forn, tw-wM
NOTICE OF SALE
TUTU OF M ARXECY, MEW 700-
5295 , 00 Bonds
NOTICE IS hEREBY GIVEN that the undersigned Supervisor
of theTown of inamaroneck , New York , will receive sealed
gro,osals at the Town Hall , Prospect Avenue , in the Town of Hamaroneck ,
Westchester County , New York , until 0: 00P , M, , Dayli6ht Saving Time
on the 20th day of june , 1927 , for the purchase of the following described-
bonds if the Town of Layaronenk , New York , to-wit:
0139 ,000 Water Works System Bonds , maturing 63 , 000 on
June 1 , in eacm of the years 1929 to 2941 both inclusive , and the Q , COO
an June 1 in each of the years 1542 to 2 §66 both inclusive,
$10 ,050 Water Distribution System Bonds , maturing 04 , 000
on June 1 , in each of the years 1929 to 2962 to 3966 both inclusive , and
Q5 , 00Q an June 1 , in each of the years i963 to 1966 tot, inclusive.
Al2 of said bonds will be dated June 1 , 1927 , of the
denomination of 02 , 000 each and bear interest at a rate not exceeding
five per centum per annna; interest payable semi-annually June 1 and
December! and be in col ,.on foro . Both princigal and interest will be,
na,yab2n in Hold coin o� its equivalent in lawful mDney of the United
States , at the Rational Bank of Commerce in the Oity and State of New
York. Bonds will be ragisterable as to _)rincioal only or as to both
principal and interest,
The right is reserved to reject any and all bids . Unless
all bids are rejected said 0295 , 000 bonds will be awarded to the bidder
with the tents of sale and offering 1✓ �urchase the same at
the lowest rate of interest stated in a nultiple of one-tenth of one per
CCY_JtLIdLI _31er annum rebardless of nremium, Provided however , tkat if two
or more bidders bid for the same lowest rate of interest then the bonds
will be awarded tu !As uidjer Offering the highest ce therefor at su&.
lowest rate of interest No biO for less tAan par value and accrued
interest will be cinsidered, Bidders nost bid for Ql of said 0295 , OCC
bonds and MU St state a single rate of interest for all of said 02,5&00;
bonds and will not be permitted t) bid different rates of interest for
different portions of said 629Y,000 bonds . Any bid not complying with
the terms of this notice will be rejected.
Each proposal must be enclosed in a sd al ed envelope
adaressed to the undersigned Supervisor and markdd on the outside
"Proposal for Bondg, " and must be accompanied with a nerd firate check
Mon on an incorporated bank or trust cony 1'y in the State of yeP,,
York or a Cashier' s or other Official ' s cleck of such' bank or trust
co-moary Ino ,able to the order of the Supervi2Dr of the Town of Lamaroneck
for ALAMO . The deposit Of the successful bidder will be credited
on be Purchase price . Checks of unsuccessful bidders will be returned
on the award of the bonds ,
The approving onini3n o ens s , ClaY , Dillon and Vande-
water, Attorneys , of New York City, will be furnished to the purchaser
without charEe ,
Dated, Hanalcnecl , New yorh
June
jear,e _W, Buxton
SUPLRVISOR
FMhER,
FISMID THAT the Town Board meet at the
Town Hall , PxOsyect Ave, , in the Town at'
hamaroneck , on tre 2uth dal of June , 1927,
at "O" Mck P . M. , Dayli&t Saving Time ,
',0 act _DDr 110y0sals for Enid bonds , further
PESOLVED, that when said bonds shall have
been duly sold and executed, the same
shall be delivered to the �=chaser uaon
payjent of the purchase price to the
Supervisor, and the receipt of the Said Sul-
ervfsor shall be a full ' ac,uittarce to said
. M WAO snail not be obliged to see
i ' "
s the application of the nurchase Money.
The question of the adoptionof the foregoing roso2utjon
was duly lut to a vote which resulted as fo2lows.
AMS; Six
NO LS: None .
The resolution was jeclared duly adojted
?On motion , the neet2ng adjouned at 5: 30 P . K,