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HomeMy WebLinkAbout1928_12_05 Town Board Minutes H I:TI J:L-G �•C ,r �j���Pjj held DccEmber 5th, 1928. I The meeting was called to order by Supervisor 3urtcr. at 11650, 2. 1'". resents' Su-osrvisor Burton Justices Collins , "ievzeil and Leeds Town C1Erk Sherman Counsellor Gamble Upon notion, duly seconded, it -,,<ias voted to dispense ,, it h the reading of the L1inUtes of i-eeti gs not yet a._J1Jr Cvedo Counsel advised. the Board that pursuant tc a request of the Sevver Commissioners of Sewer District Vom i, of the `Town of I'amaronecls, the Board had heretofore and on 9agust 5th, 1927 , in accordance 7'iith Znd lDursuant to the provisions of the Laws of the imitate of 2'i.' `ror=., and particularly Section 257 of the Tovm Law, authorized and directed the Supervisor to issue 'Certificate ICI or Certificates of Indebtedness in the amoint of not to exceed J175 ,000a00, the proceeds of �rrhich Certificate or Certificates of .i YSd.E _tEdPi25S t0 be ap"iJ1i2d. 1n pay:dent Of ti1E COS'G of COnStrU.ctiOn of the part or portion of such contracts in said Sewer District _= wa.s requested by said Sewer Commissioners , which Certificate or Certificates of Indebtedness should -mature at such time or times c. S the Supervisor Il1i 6ht fix;. not exceeding, h0,ve7ver, 8 -i"=1teen saontis fro-m the date thereof. He stated that in accorde.rice therewith the 3u-` Fr—or had i'rom ti-file to ti-me lssuea saki Ccrtifica.tes cursuant to said authorization to pay for the cost Of said construction as incurred but that said contracts ,11'ere not '.. ws yet Completed se that the 3oard, pursuant to the provisions of the Tos-,rn Latizr, could not as yet issue bonds With the -orocceds of to ta'ne up and pa.y off said Certificate or Certificates of Tnd e tE dPe ss , and that a the e1"nte en raonths lil'.1itation as provided in said resoli't1oY was about t0 xpire , �t r .s lreceSsar�/ fcr the '-oard to extEnd the period of maturity Of said aut'!_Cr- iza.ti10i7 a.nd. iESuancE Or to rcauzhcrize the -;Su,,Dervisor t0 issue said Certificate or Certificates for the further ,-Period of not to exceed ei,`rt2e . fuonths , so that certain outstanding Cert- ificates could be renevred or re-issued or rE'und-ng Certificate or Certificates of Indebtedness issi:ed to take u_i those out- standin.g Which were about to mature , plus the interest Which had accrued and would accrue thereon® After discussion, upon motion, duly seconded, it was 't:-i3OL` 'D. Si�,. n. i~�. , at "�h2 re CIU2 St Of the Board of Sewer Commissioners of Sewer District. 150. 1, the Town Board rjursua.nt to _ar.` has heretofore i,d. on `ugust 5th, 1927 , authorized and directed the Supervisor to issue Certificate or Certificates of TnC br edness in -he amount of not to exceed ' 75 ,000 , inch Certif�ca. c or Certificates of Indebtedness were to mature in not exceed- � ing. 16 mcnths froiri ugust 5th, 19%7a and :_iRTAS the contracts to cover the cost of construction of ^hich said Certificate of indebtedness -,_ere authorized to be issued have not been ccrii)le Ged s0 that ;ne '1'vxn Board can not at 'his +ime issue bond- to proyi,'e eLndo poi. UnE Ja,V! ent of sa'-O. Cert+- ifica.te or Certificates of Indebtedness ;!,n en and as the saiue become due , and WTI=45,. it is therefore necessary that the Supervisor° be authorized and ernfjowered to issue ne , or refunding Certificate or Certificates of Indebtedness to provide funds for the pa,ynent of such Certificate or Certificates as may become due from time to time ,. ano. 'E RFAS, it is necessary to provide an additional amount to cover the interest -✓hich has accrued and Trill accrue or, said Certificates of Indebtedness heretofore authorized, therefore be it R=r OLVT' D, that t'r_e 8u-oervisor be and he hereby is a.u.thorized, and eii7i3owered in accordance with and -cursuant to the pro- visions of the TaL-is Of the Stale of 1�1ev; '`_Tore:, and particularly Section 237 of the Tooan avJ, to borrocr uy,on the fait-n and credit, of the ToY,'n of 71 eLa111aronec6, the Surf of not to exceed the principal amount el X175,000 , plus such amounts as have accrued or may hereafter accrue on account of interest -thereon not exceeding the sum of ::5,000 , and to issue a temporary Certificate or Certificates of Indebtedness in the _Drinci_oal amount of not to exceed : 175 ,000 , plus said interest accrued and to accrue thereon, tahich shall bear interest at a rate Of not t0 e- ::teed 5j:i per annL'u"!, payable at such time or times as the 'Supervis-Ir may fix, not exceeding, hoT�rever, 18 Diont'hs from the date i,ereof and to sell and dispose of said Certific- ate or Certificates of Indebtedness for not less than the par value thereof.; further R .SOLVED. that the proceeds of sale of said Certificate or Certificates of Indebtedness .=erein authorized shall be used in the -refund- ing of Certificate or Certificates of Indebted- . ness tcget-Oer S-rit'h interest thereon or which may hereafter accrue , heretofore authorized on �ugust 5th, 1927 , and hereafter issued from ti-,le to time as in said resolution, of l;gust :5th, 1927 , �)revided, except as herein_ modified, further PTSOL7�=, t'ilat said Certificate or Certificates of Indebtedness shall be in substantially the following fo-rrno Ui71TFD ST T?S OF ',7:7',RICA SIITL.7?77. OF 1i YORK COU T'Pl -, 1 ST C'rSTLt i 20'1,1Y rT Certificate of Indebtedness Issued I�ursuant to .Section 237 of the Torn La,^r of the State of heva Fork, for Sewer District ITo. 1 of � the Town or iamaroneck-Series H 175,0000 The Town of ISamaroneck, in the County of 'Cestchester, a. '__unicipal Corporation of the State of 3Te7w "c r' , hereby a.eknow- lcdges itself indebted and for value received promises to -pay to bearer hereof, or if the sae be registered, to the registered holder, on the sLim of Dollars , lawful money of the United States of r .erica frith interest thereon from the date at the rate of per cent= per a_nnumg both principal and interest, be?nl _payable In lawful money OI the States at ` This Certificate of Indebtedness is one of an issue of 1'75 ,000a of Certificates of Indebtedness heretofore authorized. aertificate lics.. in ti.1e surf O-L respectively having been heretofore issued; this Certificate of Indebtedness being issued for -the purpose of refunding the afore- said Certificate Iles® heretofore issued in said principal amount, being issued ioursuant to the provisions of the Totivn Law _constituting Chapter 61 of the Consolidated Lards of the State of 'ror_n, Chapter 422 of the La'vas of 1920 and Chapter 437 of the Laws of 1928 of the State of ?e York and in strict compliance with the constitution and Statutes of the State of Yew Yo-r'r, and by virtue of resolutions Of the 'f Own 3'cardt of the 'TO'i`!n Of Siarna.ronec.k, regularlz and lawfully adopted ugust 5th, 1927 , and December 5th. 1928, respectively. , t is hereby certified and recited that all conditions , acts, and things required by the Constitution and ,Statues of the State of flew -'otk to exist , to have happened and to be performed precedent to and in the issuance of this Certificate of Indebtedness e?1St , have hanlcened and have been perforr[1ed, and that the Issue of '..ertlficateS of Indebte0ness al which this is one , together with all Ct E1" indebtedness of said IOC!Y, of a ^.a rant Gk iS ?`,ith' its debt and other limits pee clibied by the Constitution and -Laws of this State. !IT IUTITi7HSS i-=RZOF, !he 'Town of %%;arnaroneck, through its Town Board, has caused this Certificate of Indebtedness to be signed by its Supervisor and the corporate seal of said Toirrn to be hereunto affi;;ed and attested by its Town Clerk, and this Certificate of IndEbted.ness to be dated this day of Su-oervis or Attest Tovv'n Clerk further BZ6OLA'D, that - ie Town of `.ariaroncc'_c hereby covcr.ants to pay the 'f- incii'al and interest of said Certificate or Certificates of indebted- ness in the amount he-reinabove provided as the same shall become due by directing; the issue and sale of bonds therefor or by levying assess- ments on property of Server District, a 1, of the Town of ZIa.maroneck at such time or times «nd in such arhounts as may bEi ecessa.ry therefor, further z SOLIT-TD, that the Town of ','iamaroneck further covenants in case of a default in carrying out the foregoing covenant , the said io:anvill raise by ta,_in.g all taxable property in said Tolrvn of iTama"roneck from time to time the sum or sums - sufficient to _say tine pril_cipal and interest of said Gel°tificaiE or Certificates of TndsbtEd- ,tress as th same shall be c0ihe di)em 'I I Counsel an-:ris_ed the Board that pursuant to a recuest of the Sewer Commissioners of Sewcr District 1�0. 1 of the Ton of 12_aararone0k, the Board had heretofore and on _Ecember 7th, 19279 in accordance with and 1)ursuant t0 the provisions Of the Lairs Of the State of -Is,'-d Y"orL, and particularly Section 237 of the To7n Lava, authorized and directed the Supervisor to issue Certificate or Certificates of Indebtedness in the amount of not to eXceed :r60,000, the proceeds of -:vhich Certificate or CertifieatES of Indebtedness to be applied in payment of the cost of construction of the part or Gcrti3n of such contracts in said 3Eder Dis+rir - as 'fPaS ie:iUES'Ed by said Sewer COMMissioners , which Certificate or Certificates of Indebtedness l^ '-' AL should mature at such brae or tunes as the Supervisor rni;ht fix, not exceed ng however, eighteen. ,-no-nths from the date thereof. IP'e stated at in accordance there ✓ith the :5u_ Ervisor had from tim to ti-fie issued said :ertificate:s _oursuant to said authorization to -pay for the cost of Said construction as incurred but that said contracts were not as yct comioleted so that the Loa-rd, pur- suant -co the provisions of the Tovm Law, could not as yet issue bonds with the proceeds of which to tale up and -,}ay off said - -- Certificate or CErtif iCatC-S Of 1nCLE iJ tE E d '-'^ tr dne s , a.. U at as he eight- een months limitation as arovided in said resolution was about to ..-_fir,°_ , it '.-,ras necessary for the Board to extend the p°1^i OCI of maturity- of said authorization and issuance or to reauthorize the Supervisor to issue said Certificate or Certificates for the further period of not to emceed eig;' teen months , so that certain outstanding Certificates could be rsne',Jed or re-issued or refund- in Certificate or Certificates of -indebtedness issued to ta',e up those outstanding svhieh ,.iEre about to inature , plus the interest 41'_2i c had accrued and 1;7oulyd accrue thereon. lifter discussion, upon -motion, duly seconded, it rrras R`!SOL EiD, `.'i °y_',S, at the request of the Board 0f Sewer Coozaissioners of Sever District Yo® 1 , the Town .Boa.rd pursuant to law has heretofore and on Dece-nber7th, 1027 , authorized and directed Mile ;7upc ry isor to ssue Certificate or Certificates of ndebtedness in the amount of not to exceed I _:00 ,0004 r,rhich Certificate or CEr'i,ificatcs of lndcbted:icss Pere to rnature in not excEcding 18 -nor ths from Decenfocr 7th, 1927 , and J LEAS, the contracts to wit , Contract ' osa D and '_, tc cover the cost of construction of vihich Certificates of IndebtcdiESS rerE authorized_ to be issued., have not been co'inpleted so that the loran 1oard Can 'no':. at this time issue bonds to provide funds for the payment of said Certificate or Certificates of Indebtedness hen and as one same beeorr_e due ; and '717 .;e�"2, ii, is ti7E rCf or2 necessary th:`_'.t the Suervisor be authorized and empowered to issue ne-a or refunding Certificate or Certificates of indebtedness to provide funds for the pa;rnent of such Certificate or Certificates as may be- come due from time to time , and 7F ' a< it is necessary to provide an additional amount to cover the interest which has accrued'_ and 11 a.ccrur on said CertifPcat..es of IndEbted- <iess heretofore authorized; therefore be iv _'SOLTEID, that the Supervisor be and he he-_,eby is authorized and empo,rrered in accordance with and pursuant to the provisions of the laws of the State of _1185'; York, and _iaiticularly Sec'ticn 257 of '"is Town Law, to borrow upon tIIe faith and credit of the Town of ia'arnaroneck the sure of not to exceed the principal amount of 'N80, 000, plus such amounts aa have accrued and may hereafter accrue on account of interest thereon, not exceed- i_ the suu of :65 ,000, and to issue a tErnporary Certificate or ertifica-1-es of indebtedness in the principal amount of not to exceed 60,000, plus said interest accrued or to accrue thereon tv'iiicn shall bear interest at a, rate of not to exceed. per an=n, y-a,yable at such time or dines as the Supervisor may fix, not exceeding however, 18 months from the date 'hereof and to sell and dispose of said Certificate or Certificates of Indebtedness for not less than the par value thereof, further I i05 PDSGLVTD, that the proceeds of sale of said Certificate or Certificates of indebtedness herein authorized shall be used in the -refunding of Certificate or Certificates of Indebtedness, together with interest thereon or which may here- after accrue , heretofore authorized on December 7th, 1927 , and hereafter issued from time to time as in said resolution of Deceiuber 71h, 1927 , pro- - vided except as herein modified, further 8730 ',,"D, that said Certificate or Certificates of Indebtedness shall be in substantially the following form ES S' it OF 1=111i YORIi COULd1Y 02 7STC 7STER iio. _ I, Ra 5i the 'Tovin of I-amaronec`-, in the County of ",Testchester, a unici_oal Corporation of the State of _=.evv York, hereby acknow- ledges itself indebted and ror value received i)rornises to pay to bearer heieof, or if the same be registercd_, to the registered holder, on the sum of Dollars lawful money of the United States of !',Ynerica with interest thereon from the date at the rate of per centusn per annum, both pr'incipal' and interest tieing payable in lawful inone-lv of the United States at i This Certificate of -ndebted.-,ess is one of an issue of '360 ,000, of Certificates of Indebtedness heretofore authorized, in the s uin of sp respectively having been heretofore issued: this Certificate of indebtedness being issued for the purpose a--' -refunding the afore- said Certificate LYoso heretofore issued in said principal amount bcin- issued ?Jursuant to the -provisions of the loT,Jn Lah-v constitut_ g Chapter 61 of the Consoi id.ated Lati�rs of the state of -�e,,�r York, Chapter 422 of the Laws of 1926. and Chapter 437 of the Laws of 1928 of the State of _,'end ''ork, and in Strict coTD."Jl iance with the Cons tf tut ion and Sta-tutas of the Sta-i;e of - eiN York, and by virtue of resolutions of file OVcn iJoa.rd of the 'Town of L.arlaronec'_ regularly and lawfully adopted Decenfoer 7th, 1927 , and DeceziiJer :51h, l9 ;S, respectively, It is hereby certified and recited that ail conditions, acts and things rcouired by t'_ne Constitution and Statutes of the State of i?ew York to exist, to have happenEd and to be performed precedent to and in the issuance of this Certificate of Indebtedness exist, ihave 'riap-,gened and ra.v been performed, and that the issue of Certificates of Tndebtcdi,ess of Which this is one , together ulth all otner indebtedness of said. To-vin of Lam-- roneek is within Its debt a'.^id Other l i l'_tS iJre scrl'�Jed by tihe Cons :..=l,Ut_on and Laws o:: this State. i ' IT S y:="P'' F, the To,,vr of T'rama.rcneo'k hrough -ts To7,vn l o rd. has caused th4S Certificate of Indebtedness to be signed by its Supervisor and the corporate Seal of said `io\` n to be hereunto affixed and attested by its Town Clerk, and this Certificate of Indebtedness to be dated this day of Attest ; Supervisor Town Clerk I I I K furthe r 'iESCIZln'Dy that the Tovn7 of ,ailaronecI- 'riereby* covenants to pay the principal and interest of said Certificate or Certifica-tes of Indebt- edness in he amount he---sabove 'orov'ded as the sa-.ne shall become due by directing the issue and sale of bonds therefor or by levying assess- ments on propert"T of Sewer District Sio® I of the Torn of 1.rarnarcneck at such time or times ."..__ and in such amounts as may be nEces.sary thorEfor, far the n PLESOLUL'2), that the ' olm of .damaronecl: further covenants in case of a default in carrying out 7i56 forego].ng co vE".ant, the said T 0'A1 ,7ill raise by tazving all taxable ", ro"pErty i.: said 1'o jli of T:alil2.rOnE Ck fr07_2 tine t0 time the $L'.:u or suz:s s u f ent- to "PaJ tale =)"rinol Jc,,l an -f i n t e,res .. oIF said Certificate Or vertif icatc- s of Indebtedness '. as the same shall become due.. The Clerk requested that a3 Resolution be adopted author- izing the purchase of chairs aid rugs for use in the '10i�Pn Offices, Upon :notion, duly seconded, Jt was ^S^vL'T^Dy t'liat the Clerk be and he hereby is authorized and empoh%sered to purchase the necessary number Of chairs and rubs for use in tnc 1uti' Offices, not exceed-11,1" t'ile sIxf, of $500. 00. Moon motion, duly seconded, the meeting adjourned at 12 .510 Y. Town :Clerk i I