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HomeMy WebLinkAbout1921_07_28 Town Board Minutes Meeting of the Town Board, TOWN OF MAMARONECK, held, July 28th, 1921. The meeting was called to order by Supervisor Burton at 10.00 P.M. PRESENT: Supervisor Burton, Justices, Boyd, Collins, Dudley and Shafer Clerk Sherman, Counsellor Gamble. Upon motion, it was voted to dispense with the reading of minutes of meetings not yet approved. The Supervisor stated that the meeting was called for the purpose of taking up for consideration the request of the Sewer Commissioners of Sewer District #1 of the Town of Mamaro- neck the issuance and sale of $130,000.00 sewer district bonds of the Town of Mamaroneck. After consideration and discussion, the following resolution was offered by Justice Shafer and seconded by Justice Boyd: WHEREAS, the Board of Sewer Commissioners of Sewer District #1, of the Town of Mamaroneck has filed in the office of the Town Clerk a map and plan of such District as required by law, and has reported to the Town Board the amount of cost of construction of the Sewer System determined as required by law, the said report of said cost reaing as follows: BOARD OF SEWER COMMISSIONERS. SEWER DISTRICT #1, TOWN OF MAMARONECK, OFFICE: WEAVER STREET AT HOWELL AVENUE, P.O. ADDRESS:& LARCHMONT, N.Y. July 13th, 1921. Town Board Town of Mamaroneck, 8 Elm Street, Mamaroneck, N.Y. Gentlemen: On July 11th this Commission opened bids for the construction od sewage disposal plant and outfall sewer. Based on these estimates and the amounts heretofore expended and con- tracted for, in the nature of engineer's fees real estate, easements and rights of way, we herewith respectfully report to you that the amount of the cost of construction of the disposal plant and outfall sewer including the items bbove named, Sewer District #1, Town of Mamaroneck, will be $130,000.00 We, therefore request that you direct the issue and sale of bonds for the aforesaid amount herein reported. Yours very truly, Bobt. H. Stevens. Sgnd, Board of Sewer Comm. W. I. Palmer, H. R. Mitchell. NOW, THEREFORE, BE IT RESOLVED, by the Town Board of the Town of Mamaroneck: 1. $130,000.00 Sewer District Bonds of the Town of Mamaroneck shall be issued pursuant to the provisions of the Town Law, constituting Chapter 62 of the consolidated Laws of the State of New York. Said bonds shall be dated July 1st,1921, shall bear interest at the rate of six per centum (6%) per annum, payable semi-annually on January 1st and July 1st in each year, and shall be 130 in number, numbered from 1 to 130 inclusive, of the denomination of $1,000 each. Said bonds shall mature $5,000 on July 1st in each of the years 1922 to 1947 inclusive, and shall be substantialy in the following form: No. $1,000. UNITED STATES OF AMERICA STATE OF NEW YORK COUNTY OF WSETCHESTER SEWER DISTRICT NO. 1 OF THE TOWN OF MAMARONECK. SEWER BOND. The Town of Mamaroneck in the County of Westchester, a municipal corporation of the State of New York, for value received, promises to pay to bearer, or if this bond be registered, to the registered holder thereof, on the first day of July, 19.., the sum of One Thousand Dollars, ($1,000.00) and to interest thereon at the rate of six per centum (6%) per annum, payable semi- annually on January 1st and July lot in each year, upon presenation and surrender as they sev- erally mature, of the coupons therefore annexed thereto, or if this bond be registered, then to the person in whose name it is registered. Both principal and interest of this bond are aayable in lawful money of the United States of America at the office of the First National Bank, Mamaro- neck, New York. This bond may be converted into a regis tered bond, as provided by the General Municipal Law, and be registered on the books of the Town Clerk, and thereafter is transferable upon the to the Town Clerk of said Town with a written assignment duly acknowledged or proved. Upon presentation thereof, with such assignment, the Clerk will note such transfer on this bond and on said books. This bond is one of an issue or 130 bonds of like tenure, except as to maturity, numbered from 1 to 130 inclusive maturing in ord- er as numbered, $5,000 on July 1st in each of the years 1922 to 1947 inclusive, issued pursuant to the provisions of the County Law constituting Chapter 16 and the Town Law constituting Chapter 62 of the Consolidated Laws of the State of New York, and by virtue of an act of the Board of Supervisors of Westchester County duly adopted August 1st, 1921, and by virtue of a resolution a of the Town Board of the Town of Mamaroneck, duly adopted July 28th, 1921. It is hereby recited and certified that all conditions acts and things required by the constitution and statutes of the State of New York to exist, to have happened and to be performed precedent to and in the issuance of this bond, exist, have happened and have been per formed, and that the issue of bonds of which this is one, together with all other indebtedness of said Town, is within every debt and other limit prescribed by the Constitution and Laws of said State. IN WITNESS WHEREOF, the Town of Mamaro- neck in the County of Westchester, has caused this bond to be signed by the Supervisor, and the seal of said Town to be hereunto affixed, attested by its Town Clerk, and the coupons hereto annexed, to be authenticated by the facsimile signature of its Town Supervisor, and this bond to be dated July 1st. 1921. Supervisor of the Town of Mamaroneck. ATTEST: Town Clerk. ( FORM OF COUPON ) - NO. $30.00 The Town of Mamaroneck in the County of Westchester, will pay to the bearer on the lst day of ___19___ , the sum of Thirty Dollars ($30.00) in lawful money of the United States of America, at the office of the First National Bank, Mamaro- neck, New York, being six months interest then due on its Sewer Bond, dated July 1st, 1921, bearing number ____. Town Supervisor. ( CONVERSION CERTIFICATE ) WE HEREBY CERTIFY that upon the pres- entation of the within bond with a written re- quest of the owner thereof for its conversion into a registered bond, we have this day cut off and destroyed coupons attached thereto, numbered from to inclusive, of the amount and value of Thirty Dollars ($30.00) each, amounting in th aggregate to Dollars, and that the interest at the rate of six per centum (6%) per annum, payable semi annually on the first days of January and July in each year, as was provided by the coupons as well as the principal, is to be paid to legal representatives, successors or assigns, at the First National Bank, Mamaroneck, New York, the place stated in the coupons. Dated, Supervisor of the Town of Mamaroneck. Town Clerk. ( FORM OF REGISTRATION CERTIFICATE ) IT IS HEREBY CERTIFIED, that the within bond was this day registered in the name of the payee above named in the books kept in the office of the Town Clerk of the Town of Mamaroneck, in the County of Westchester, and is transferable only upon presentation to said Clerk with a written assignment duly acknowledged or proved, at which time the name of the assignee shall be entered hereon and in said books by said Clerk. IN WITNESS WHEREOF, I have hereunto set my hand and official seal this day of 19 Town Clerk. Date of Name of Registration: Registered Holder: Registered by 2. The Town of Mamaroneck hereby covenants to pay the principal and interest of the said bonds as the same shall become due by levying and coll- ecting an assessment or assessments on property of the district at such time or times and in such amounts as may be necessary therefor. The Town of Mamaroneck further covenants that in case of a default in carrying out the terms of the foregoing covenant the said Town will raise by tax upon all the taxable property in said Town from time to time a sum or sums sufficient to pay the principal and interest off said bonds as the same may or shall become due. 3. Said bonds shall be sold upon sealed proposals upon notice published not less than five or more than thirty days before such sale, at least once in the Larchmonter Times, a newspaper of said Town, and also in the Daily Bond Buyer, a financial newspaper published in the City of New York. Said notice of sale shall be substantially in the foll- owing form: NOTICE OF SALE SEWER DISTRICT NO. 1 OF THE TOWN OF MAMARONECK $130,000. SEWER DISTRICT BONDS. Sealed proposals will be received by the Town Board of the Town of Mamaroneck on August 10, 1921, at 7.00 P.M. o'clock at No. 6 Elm Street, Mamaroneck, New York, for the purchase of $130,000 Sewer District Bonds of said Town. Said bids will be of the denomination of $1,000 each, will be dated July 1st, 1921, and will mature $5,000 on July 1st in each of the years 1922 to 1947 inclus- ive. Said bonds will bear interest at the rate of six per centum (6%) per annum, ayable semi- annually on January 1st and July 1st in each year. Both principal and interest will be payable in lawful money of the United States of America at the office of the First National Bank, Mamaroneck, New York, The bonds will be coupon bonds, with the privilege of registration as to both principal and interest. The right is reserved to reject a# btds and any bid not complying with the terms of this notice will be rejected. The bonds will not be sold for less than par and in addition to the amount bid the success- ful bidder must pay accrued interest at the rate borne by the bonds from the sate of the bonds to the date of payment of purchase price. All bidders are required to deposit a certified check payable to the order of the Town of Mamaroneck, for two per centum (2%) of the amount of the amount of bonds bid for, drawn upon an incorporated bank or trust Company. Checks of unsuccessful bidders will be returned upon the award of the bonds. No interest will be allowed upon the amount of the check of a successful bidder and such check will be retained to be applied in part payment for the bonds or to secure the Town against any loss resulting from the failure of the bidder to comply with the terms of his bid. Proposals should be addressed to the Town Clerk, Mamaroneck, New York, and enclosed in a sealed envelope marked on the outside "Proposal for Sewer Bonds." The successful bidder will be furnished with the opinion of Messrs. Hawkins, Delafield & Longfellow of New York City, that the bonds are binding and legal obliggtions of the Town, payable in the first instance from assessments and not frmm a general Town tax, which however may be levied if thete is a shortage in the primary fund. The bonds will be prepared under the sup- ervision of the United States Mortgage & Trust Co. which will certify as to the genuineness of the signatures of the officials and the seal impressed thereon. By order of the Town Board of the Town of Mamaroneck. Dated, August 2nd, 1921. Frederick M. Sherman Town Clerk. The question being taken upon the foregoing resolution, same was upon ROLL CALL unanimously adopted by the following vote. AYES, Messrs, Burton, Boyd, Collins, Dudley Shafer & Sherman NAYS. NONE. The following resolution was offered by Justice Boyd and seconded by Justice Collins; RESOLVED, that Supervisor Burton be and he hereby is authorized and empowered to present to the Board of Supervisors at its next meeting for its consideration and approval, a resolution authorizing the Town of Mamaroneck to borrow the sum $130,000.00 and issue its bonds there- fore, for the purpose of providing the amount of money needed to cover the cost of construction of the Sewer System, to be constructed as set forth and specified in the report of the Sewer Commissioners dated July 13th, 1921, and the resolution authorizing the issuance and sale of said $130,000.00 Sewer District Bonds just passed. The question being taken upon the foregoing resolution, same was upon ROLL CALL, adopted by the following vote. AYES: Messrs, Burton, Boyd, Collins, Dudley, Shafer and Sherman. NAYS: None. Upon motion, the meeting adjourned at 11.00 P.M. Town Clerk.