HomeMy WebLinkAbout1928_12_05 Town Board Minutes H I:TI J:L-G �•C ,r �j���Pjj
held DccEmber 5th, 1928.
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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
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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
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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
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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
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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
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