HomeMy WebLinkAbout1932_03_14 Town Board Minutes_ 93
SPECIAL, RIiEETING OF THE TOWN BOARD
TOWN OF MAI9f_4RONT'CK, N. Y.
held March 14th, 1932.
The meeting was called to order by Supervisor Burton at
i0:30 A.. M.
Present: Supervisor Burton
J-uatices Boyd,. Leeds, Messersmith and Burbank
Town Clerk 11a ry in
The presence was also noted of Counselor -Gamble.
The call of the meeting was pre.s.ented by the Clerk and
approved as printed.
I
Counsel advised the Board that in accordance with the resolu-
tion passed at the morning meeting of Irlarch 7th, he had taken the nec-
essary steps- to care for the sale of OU59.000. highway bonds -and $175,O0a
Sewer District No.1 bonds and : submitted suitable resolutions therefor®
The following resolution was offered by Justice Messersmith
and seconded by 'Justice Boyd, tai:=w.it::
;1MREA:S9, the Town Board of the Town of Mamaroneck
heretofore has made_ appropriations to pay the town
share of the cost of reconstructing of,:.and of
acquiring lands for,, the Boston'Post Roado a State
Highway in said.Town, aggregating $307¢000. and.said
improvements have been temporarily.financed and there
are now outstanding temporary obli.gations,of.the Town
of Mamaroneck in the amount of $301,500. issued to pay
the cost of'said improvements, .and it is estimated that
there are additional incide.n tal-.exp.ens.es:in connection
with said improvements to be paid in the amount of
$8,000, and it is now necessary, to: issue $3159.000 bonds
to pay such cost and fund such temporary obligations;
RESOLVE}, that there is hereby appropriated the sum of
$8,000. in addition to the sum of .,$307,000 heretofore
appropriated for the purpose of paying the town share of
the cost of reconstructing State Highway No. 5372 (.the
Boston Post Road) in the Town of Mamaroneck,_ and .the
acquisition of lands. for such State Highway in said Town,
and incidental expenses in conne,c,tion therewith.
FURTHER RESOLVED, that to.pay such additional appropriation
and to fund $3.01,500 temporary, obligations of the Town
issued for such purpose, there shall.be issued three
hundred and fifteen thousand dollars ($3151,000.) Highway
Improvement :Bonds . (Boston "Post Road) .of the Town of
11amaroneck,- of the denomination of one thousand dollars
(•$1,000.) each, dated' the. fifteenth day of April, 1932,
numbered from one (1) to three hundred and fifteen .('315)
both inclusive, and maturing in numerical -order fifteen
(15) bonds on the fifteenth day of April,; in each of --the
years 1933 to 1949 both inclusive and twenty (Z)., bonds on
the fifteenth day of April in each of the years 1950 to
1952 -both inclusive; that said bonds shall bear interest
at a rate not exceeding six per centum per.annum,, payable
semi-annually on the. fifteenth days of October and April.,
and shall: have inter.est:; coupons attached. -That said bonds
shall be signed by the, Supervisor and sealed with the
corporate seal of the Town, attested by the Town Clerk
and the interest coupons shall be signed with the fac-simile
signature of the Supervisor, and that both principal..and, .
interest shall be payable in gold coin of the United States
of America of the present standard weight and fineness,, or
its equivalent in lawful money of the United States, at the
Larchmont National Bank & Trust Company,-Larchmont, New York,
in New York exchange, or at the First National Bank of -ITew
York, N.Y. at the option of the holder.
M
FURTHER RESOLVED,`'that said bonds shall be issued in
substantially the following forme to -wit:
UNITED SLS Z OF AMERICA
STATE OF ITEW YORK
COUNTY OF WESTCHESTER
TOWN OF MAMARONECK
,I
HIGH�iTAY IMPROV - •NT BOND
(BOSTON POST ROAD):
No. $i,000.
KNOT RILL MEN.BY THTSE PRESENTS„ That the Town of Mamaroneck,
a municipal corporation in the County -.of Westchester, :S:tate of New Yolk,
hereby acknowledges its indeb.tedness:-and.for value received:promises to
pay to bearer: on' the fiftteenthday of April,, the sum of ONE
THOUSAND .DOLLARS ($19 000.00 Y, toge Cher with .ince re s t . the r.e on from the
date hereof at-Ahe rate of ( } per centum
per annum, payable.semi'annually,�on.the fifteenth days,of October and
April upon presentation and surrender �of , the annexed -.interest coupons
as the sums respectively mature. Both.principal.a.nd interest of this
bond are , payable in gold coin of the. United_ States of America of the
present standard weight :and fineness, or its.�.e.guivalent.in lawful money
of the United States, at.the Larchmont.National Bank &'Trust. Company,
Larchmont,. New York, in New York exchange- or
at the First National
Bank of Near York.,., New York, at the option.of the ho:lder.
This bond is one of., an,. issue - of. bonds . of like. date and tenor,
except as 'to- -date of maturity,: aggregating the -sum of $3.15,000, and is
issued for the purpose:.of paying the Town*s share of the cost -of re-
constructing and:, -acquiring property for a' State Highway in said Town
pursuant :to. and in strict compliance with the Constitution and statutes
of the State of New York-$, including .among..other.s the Highway Law, the
Town Law.and the:.General Municipal Law- and acts emendatory ther.e.of and
is ,issued pursuant -'to .pr.oceedings._of the .Town Board of said Town duly
had and taken.in.all respects authorizing. -the same.
It is hereby certified, re.c.ited and,declared that all acts,
conditions and .things required .to exist,:.to happen and. to be performed
precedent .to and in the issuance of this.,b-ond_, exist, have happened and
have been performed: in due time:, firrm and :manne.r as. required by law;
that the issue of bonds.of which this is one, together -with all.o:ther
iI debtedness of said Town, is.within every debt and other limit Pres
c�ribed by the Constitution and Laws of they.. State - of New York, and that
dl a provision has°. been made .for ra-i.s:ing annually by.. tax upon the taxable
property of said Town a sum sufficient to pay the prAnc1pal.and interest
of this bond az the same respectively become due and payable. . -The full
faithand and credit of said Town are hereby irrevocably pledged to the
punctual payment of the principal and interest of this bond according
to its terms.
This bond may-b.e registered as to principal only'as well. as to
both principal and interest ,in--,_accordance:,with the provisions of .the
General Municipal Law. If this bond be.registered as to both principal
and interest; the .interest thereon, at the request of the registered owner
will be remitted by mail in New York exchange..
IN"WITNESS WHEREOF, the said Town.. of Mamar.onack has caused this
bond to be signed by its Supervisor and sealed -with -the corporate sale,of
said T.own, attested by its Town Clerk, and the interest coupons hereto':°
abnexed`-`to Jae signed with the fac-simile signature of its Supervisor, and
this bond to be dated as of the fifteenth day of April, 1932..
Attest:
TOWN CLERK _
TOWN OF MAXARONE.CY, N -AW, YORK
BY _
Supervisor
(FORM OF COUPON)
YCI., $
cin - the fifteenth day of October , 19 the Town of Mamaroneck
Itamaroneek, .in the County of Westc stari. New York, will pay to bearer
the- sum of DOLLARS ( )., -at .the Larch 4mont
National Bank.,&.:Trust Companys Larchmonti,,Xew Yorks in.New York exchange,
or at the First National Bank -of -New York, New York,, at the option of
the holder, being six monthst interest then'due on its Highway Improvement
Bond (Boston Post Road)', darted April 15, 1932, No..
Supervisor
CERTIFICATE OF REGISTRATION AS'TO PRINCIPAL.ONLY.
This bond may be. registered by the owner °'in his name as to
principal,under the signature of the Town.`, Clerk, of:: the.-. Town of Mamaroneck,
in the .County-of.Westche ter .New York, or other Registrar, below.: and
shall thereafter be. transferable only upon, -th-e written assignment ..of.
the:registered owner -or his attorney., duly:acknowledg.ed,or,prove.d, such
registration and .transfer to be made .on.. the books of said. Clerk or other
Registrar, .and a notation thereof to be made -.hereon. Such .transfer may
be to -beare.r4. after --which- this bond shall. be siMe.ct- to subsequent regis-
trations and .transfers as before. The coupons will remain payable ,to
bearer notwithstanding.such registration unless:this-bond shall be
converted .into a. f.ully,rEgistered"bond by °the surrender and. cancellation
s
of coupon, .which surrender- and ° cancellation shall. be noted on said
books and upon.this bond. The principal of this bond, if registered,
will be .payable to .the -.registered owner, or -his legal representatives,
sue cessorsor. assigns.. .
Date of Registry: � Name of Registered -Owner:: Signature of Registrar:
CERTIFICATE OF CONVERSION INTO- A FULLY REGISTERED' BOND
Upon the written request of the owner of the within.b°ond-for
its convers'ion..in.to a fully registered bond, I. have this day cut off and
destroyed coupons .annexed to. this :bond:.amounti.ng :-in .the aggregate
0___ . DOLLARS ($ ),
and the intrest on this bond at, the rate.. -,,and on the dates as was provided
by the couponsas well as the .principal thereof will .hereafter be paid to
legal
Pepresentatives, successors or assigns, at the.place of payment specified
therein, or,- at the. request of'..the..registered_ owner.,- .the..:interest.will be
remitted by mail in New .York. exchange° Thisb-ond hereafter will be
transferable on the books of the Town Clerk of the Town of Mamaroneck,
in the County- of Westchester* New York, or other Registrar only on -pres-
entation of the same with a written assi&nment duly acknowledged or
proved.
Dated 19
(Official Title
Date of Registry: Name. of' Registered Owner: Signature of Registrar;
FURTHER .I-??,SOLVFD, that there shall be levied-, assessed
and collected annually by tax upon the taxable property
of said Town a zum sufficient -to pay the : principal and
interest;, of .said bonds as. the same respectively become
.due. "and- payable
FURTHER-RESOLVEDq that..the Xupervisor is hereby; directed
to :-cause. a notice of sale of said. bonds -to: be published
in the DAILY T -M -Sr' a daily :newspaper `published: atrMamaron-
eck, .New�York, and also published, once in T!&. BOND BUYERS
a `f.lnancial newspaper, of New..York City,: at least, five
days before .the date of sale, and that sealed proposals
for said bonds -will be received .until 5 o1 -clock' P. X.v,.
on the 22nd day of March, 1932., at the office of the
Town Clerk of the ' Town .of Mamaroneck, 8 Elm Street,
Mamaroneck, New York, and that said notice of sale
shall be in the following form; to wit
NOTICE OF SALE
TOW OF MAMARONECK; NT`s,' YORK
$315, 000 HIGHWAY IMPROW-`IaL .NT BONDS
NOTICE IS HEREBY GIVEN' that the undersigned -Supervisor of the
town of Mamaroneck, New York, will, rec.e ive sealed . proposals at the
office of the Tbwn Clerk 'of the -Town: of.Mamaroneck, 8 klm.Street,
Mamaroneckg New York, until 5 o• -*G' lock P.M a on the 22nd day - of Ijarch,
193.2, for the purchase at not less. than.par, and: accrued -interest of
$3:1.5$000 Highway. Improvement Ccoupon)-Bonds .(Boston Post Roadf of the
Town of Mamaroneck;. Westchester County.$ ,New: York, dated April 159 1932,
of the denomination. of $1,000.. each, maturing $16,9000 April .15., in each
of the years 1933'. to 1949 both inclusive,,: and $20,,000 April 15 in each
of the years 1950 to 1952.both inclusive•4 and:.bearing interest at --a rate
not exceeding six per centum per-annum,.payable semi-annually. October 15,
and April 15. Payment in gold coin, or its -equivalent in. lawful'money,-of
the United States -9 at•the Larchmont: Na-tional,.Bank &.•Trust Company, Larch-
mont, New York, in.New York exchange, or°at the option,of the holder at the
First National. Rank.of the -City and State..' -of New York.: - Bounds will be
registerable, as to principal onlyor as to both :pr..incipal_and interest.
Bidders must bid' .for all of said bonds and s• tate; a ,single ,rate of interest .
therefor. The :right is reserved to re je.et any •and all bids. Unless all
bids are rejected, .said bonds will be awarded to.the.bidder complying
with the terms tf .sale and offering to..purchase said .bonds bearing the
lowest rate of . interest not exceeding-- the .rate above specified -and stated
in a multiple of: one-tenth or one-quarter of; one pear .centum .per annuar
regardless of_pr:emium,.provided, however, that if tiro or more bidders
offer to purchase said- .bonds at the same lowest rate of interest then
they will be awarded to such bidder offering the highest premium a:t
such lowest rate of interest.
Certified or bank or trust company: -check to order of Supervisor
of, the Town of Mamaroneck for $6500,00 -required with each bid. The
approving opinion of Messrs. Clay, Dillon & Va-ndewater, Attorneys of
New York City, will- be furnished, withouVast.
By Order, of, the. Town Board of the
Town of Mamaroneck
Dated, Mamaroneck, New York,
March 159 1932.
GeorRe ..Burton
Supervisor
FUR=IR RESOLVED, that the Town Board meet at the time and
place specified in the notice of sale to act upon proposals
received for said bonds.
FURTHER RESOLVED,. that when said, bonds shall have
been.::duly,- sold and. executed the . same -.shall b.e ,
delivered to :thepurchaser::upon payment of the
purchase: price to the .sSupervisor'i and the receipt
of the Supervisor.shal.l be a full acquittance to
the �purchaser.who shall not be -obliged to --see to
the application of the.pur.chase:money.
The . question -."of _the. ad'op.tion of' -the foregoing resolution
was duly put to a vote which resulted as ,follows:
Ayes: George W. Burton,.Supervisor
Walter R. Marvin, Tr.,, Town Clerk
William. A... Boyd.
William D. Leeds 1 Tustices.of
Wesley M. Messersmith) the Peace
Walter R. Burbank )
Noes: None
I
On motion by:Justice-Nessersmith, seconded.by the Town Clerk,
-the following preambles and resolution were adopt=ed:.
WHEREAS, on-.pe'titions of .a ,majo.rity of the, resident owners
of taxable real property in the. proposed extensions �'"Sewer District
No.. 1 of .the Tovn of Mamaroneck, known as 6'ections and
"Dillon Park" and -after holding public hearings on due notice in the
manner required.by law thereon., this Board.by orders dated July.6,
1927, February 15, 192.99 January 229. 1930 and Sep=tember 5:2, 19281,
respectively., has duly established said :extension:to and enlarged
the boundaries of :the existing said Sewer.Di.strict #1 of the Town of
Mamarone'ek:. and :
WHEREAS,. -the said Board of Sewer Commissioners has reported
to this Board that the cost .of- the: construction- of part- of -.said.. sewer
system in said extensions to said sewer .district" as enlarged.and
extended, has been.ascertairied to"be the. sum of.$175a000e now, therefore,
be it
RESOLVED, by the. Town Boardof .the Town of Mamaroneckt
in the; County' of We'stchester., New Yorki. as follows
RESOLUTION AUTHORIZING THE ISSUANCE OF $1759000
SEWER DISTRICT NO. 1 BONDS, Series Ja. of the
Town of Mamaroneck., DETERMINING THE FORK AND
PROvIDING FOR THE SALE THEREOF,
Section 1. Bonds of the Town of Mamaroneck, in the aggregate
principal amount of $175x000 shall be issued and sold to provide funds
I't.o pay the cost .of the construction of an extension to the sewer
System in Sewer District .No-. 1 of the Town of: Mamaroneck, as enlarged
and extended.
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Section 2. Each of said bonds shall be known as 1"Sewer
District No. 1. Bond, Series J". Said bonds shall be dated April 15, 19329
19hall: -mature in the principal amount of $5,.000 on April 15 in each of .
the years 1937 to 1971, both inclusive, shall bear interest at a rate not
exceeding six per centum (601 per annum, tobe. expressed in a multiple
.r
of one-quarter o' one -,tenth of one per centum, the exact rate to be
determined upon receipt of bids, by resolution of this Board, payable
semi-annually on the 15thdays o.f .April and October in each year, shall
be in the denomination of $1,.000 each, shall.be- numbered -in order of
maturity from 1 to 175;Anclusive,;shall be payable as to both principal
and interest in gold coin of the United States of America, of. or equal
to the present, standard of weight and fineness, at the office of
The Larchmont NationalBank and `rust, Company, harchmont, Westchester
County, 3�ew York,. or, at the option of the holder, at .the principal office
of the Firsrt National Bank of the City of New York, Couj±ty and State
of New York, and shall be coupon bonds, registerable as to principal,only
or as to both principal and interest.
1
D
Section 3,. Said bonds shall be in substantially the
fallowing form:
UNITED STATES OF AMERICA
STATE OF NFW YORK
COUNTY OF WESTCHESTER
TOWN OF aAMARONE CK
SEWER DISTRICT N0. L -BOND, SERIES I
Na.
$1,000.
The Town of Kamanonecki in the County of Westchester, a
municipal corporation of: the State,. of New York, hereby acknowledges
itself indebted and. for value received promises to -pay to,. the bearer
of this bond, or, if it be.register:ed, to the person in whose name it
is registered, on the 15th day of April 19 , the sum of ONE THOUSAND
Dollars ($lj000. )', and to pay. interest on such sum :at the rate of
per centum ( %) per annum,.semi-annually on..the..15th days.:of April and
October. in ..each year from the -date -of this bond until it matures upon
presentation. and surrender., as they severally mature-, of the. coupons.
therefor annexed hereto, or, if this bond.,be,regist'ered as to both
principal. and interest, -to the registered .owner. Both,pr:incipal and
interest of this' bond .w.ill be paid in gold coin ofthe United -States of
America, 'of or equal to the present standard -.of weight .and. fineness,
at the office of The Larchmont-National Bank and Trust
Company, Lar-chmont', Westchester County$ New York, or, at the'option of
the holder,. at the principal office of- The' First .National Bank of the
City of New York, in the County and .State of New York.
At the written request of the holder this bond ,may be registered
as to principal on the books of .the Towns, kept in the office . of the 'Town
Clerk., and.a 'certificat-e of such registry shall..be endorsed upon' this
bond by such. Town Clerk after which the principal of this bond shall be
payable only to the registered holder, his legal rdpresentatives,:
successors or assigns and -shall be transferrable only upon presentation
to such .Town..Cle;rk with a. written assignment duly acknowledged or proved.
The name of -the assignee shall be entered upon this bond and.such books.
Such registration shall not affect the negotiability of the coupons :-
wHaTi. shall continue: to pass by delivery.. At the written request of the
owner, this bond may be converted into a. bond registered as to -both
principal and interest,and.the coupons annexed hereto cut off and destroyed
after which both principal and interest shall be payable only to the
registered.owner, his legal representativ.es,, successors or-asaigns and
shall be transferable only in the mann-er hereinabove -set forth.
This bond is one of an authorized issue, the aggregate prin-
cipal amount of -which is .$1759,000, the.bonds of whi.ch.'are. of like tenor,
except as to maturity, issued pursuant to the provisions of the Town
Law, constituting:C.hapter 629, the General Municipal Law,.constituting
Chapter 2:49, off the Consolidated Yaws of the State of New York, as
amended, and -Chapter 594 of the Laws -of 19269 Chapter 437 of the Laws of
19289 Chapter -860 of the Laws of 1930, and by virtue -of a resolution of
the Town Board of the Town -of Mamaroneck duly adopted -on March loth,
193-2.
It is. hereby certified. and recited that all conditions, acts
and things required by the Constitution and statutes of the State. of
New York, to exist', to. have happened. and to have been p-erf.ormed; precedent
to and in the issuance of .this bond, exist, have happened and have been
performed, and that the issue of bonds of which this is one, together
with all other indebtedness of said Towng is within every debt and other
limit prescribed by the Constitution and laws of said State.,
IN WITNESS WHEREOF, ,the Town 'of Mamaroneck, in the County of
'Iestchester, has caused this bond to be signed.by its Supervisor.and
its corporate -seal to be hereunto affixed and attested by its Town Clerk,
and the coupons hereto attached to be authenticated by the fac-simile
signature of its Supervisor, and this bond to be dated an of the fifteenth
day of April, 1932.
(corporate Se a2
.,ATTEST
own e r
pervisor
1
(10Fff OF COUPON)
No.
E:,
105
The Town of Blsmaroneck; in the County of Westchester, a
municipal corporation .of. the . State of New York, will -pay to. the
bearer on -the fifteenth'day.of 19 , the sum of
Dollars ('$ It in gold coin ofie United
States of America., of or equal to. the present stanch 1weight and
fineness: `at the office of The 'Larchmont Nationa.l Bank and Trust Company,
Larchmont, -Westche ster County.,.. New York; or, at the option, of the , holder,
at the principal .o.ffice of The ?'irst National Bank of ,the City of New.
York, County and State of New York,, -being six monthat' interest then due
on its Sewer District No. 1 Bonds Series T dated_ April 159_ 1932 and
bearing Number
Supervisor
( FORM OF -TXDO RSFTfTN T )
CONVER'SICT _. CERTIFICATE
We H7-.REBY CT!'RTIFY. that upon the presentation of the within
bond with a.written request by the owner thereof for its conversion into
a bond registered as to both principal and interest, we -have thi's day
cut off and destroyed coupons attached thereto, numbered from
to inclusive, of the. -amount and value of
Dollars (,S )- each,
amounting.in the aggregate to Dollars
j, and that the interest at the rate of per centum,
fj per annum,.payable_semi-annually on,.the.fifteenth days of,April
and October.. in-.eachyear-, as. was. provided by the :coupons,, as well as the
princ.ipal,.i.s to .be paid to legalrepresentatives, successors or
assigns,, at the office of The .harchmont-National Bank and Trust Company,.
harchmont; Westchester Countyl,. New York, or at the option of the holder,
at the principal office of The Fist National Bank of the City .of New
York, County and State -of New York, the places stated in the coupons.
Dated, 19
Supervisor
Towh Clerk
REGISTRATION CERTIFICATE
rt is hereby certified that t -he within bond has been registered
as follows:
Date of Registration:
Name of . Registered Holder.,
Registered by
Section 4. The Town of Mamaroneck covenants to pay the
principal and interest of said -bonds .. aa.:the same .shall become due by
levying and collecting .assessments on the lands within Sewer District No.l
of the Town of Vamaroneck, as enlarged and extended, at such time or times
and in such.amounts.as may be necessary therefor, in accordance with Cher,
law,
1
1
107
i The_
07
The. Town further covenants in case of default in carrying out
the terms of the forego ing .covenant, that -the - said Town shall raise by
tax on the taxable property in .the.,said 'Town, .from time to time, a sum -
sufficient to.pay..-.the interest and principal on the said bonds.:as the
same shall become. due =-and. payable.
Section 5. Said bonds shall be,sold on March 22, 1932, upon
sealed proposals, and the Town. Clerk is hereby authorized and'directed
to cause' a notice of such sale to be published at -;least. once, ,not .less
than five days prior to said' 16arch 22; 19321, in ":The Daily Times'rg
a newspaper published . in the . Village of M4maroneck-, in said Town, which
newspaper is designated as the official newspaper of said. -Town for the
purposes of such •publicati.on, and also _in "The Daily -Bond Buyer"-, a
financial newspaper published and circulating, in the City of New York.
i
Section 6. Sbaid notice.of sale.shall be in substantially the
following fort:
NOTICE OF SALE
TOWN OF IJAMARONRCK, COUNTY
OF WESTCHESTER
NEW YORK
$175;000 SewerDistrict No. '1 Bonds, Series.- J.
SFAZND PROPOSALS will be received by the Town Board of the
Town of Mamaroneck, _.in -the County,.of Westchester, New York, on the 22nd
day of.March, 19321,.at five otclock P. M., .at the .office.:of the Town
Clerk,- 1\fo® 8 _ lm Street.. in. the -village of Mamaroneck, for. the purchase
of $175,000 Sewer District Noo 1 Bonds,. Sekix. s .li of said Town* Said
bonds will be. -of the denomination of $1,000. each,.will- be`dated April
15, 1932 and will mature 5-9.000... on April 15 in. each -.of the years 1937 to
1971, both inclusive. Interest at a rate to be determined as hereinafter
provided, will be,payable semi-annually on the fifteenth days of April
and October in each year,
Both .principal .and.inter.e.st of sa.id.bonds will be. payable in
gold coin of.the United States of Ainerica., of or equal.to.the present
standard of weight and fineness, at the office. of The harchmont National
Bank and Trust Company, Marchmont, Westchester County, New York, or, at
the option of the.holder, at.the principal office of The First National
Bank of the City of New 'York, in the -County and State of New York.
The bonds'will be. c oupon bonds with -the privilege of regist-
ration as to principal only, or as to both principal and interest. The
light is reserved to re jec.t all bids and any bid not complying with the
terms of this notice will be rejected.
Bidders .must state in . the.ir bids. a single rate of interest which
all the bonds . offered. fox sale. are to..bear.., -expressed in..a .multiple of
one®quarter or one -.tenth of. one percentum, but not exceeding six per
centum (0) per annum, and must state. the, price offered, but not less
than par and accrued interest. No bid will be considered for said bonds
which states a higher rate of interest than is stated in any other,
legally acceptable bid. Subject to the foregoing provision as to rate of
interest, the bonds will be awarded to the bidder offering to pay the
highest price therefor.
ZI
A11 bidders are. required- to -deposit a certified check; payable
to the- ordbr of • the Town of Mamaroneck, '!Tew' York, for two per centum
(2%), of the amount"of bond.s?'iiidfor drawn, upon an incorporated bank or
trust -company® checks of unsuccessfulbidders will be returned upon
the award .of the.,, -bonds. Interest ' at the rate -borne 'by the bonds from the
date of award to 'the date of delivery will, be allowed upon the amount. of
the c:he-ck of .a sudeessful 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 WAL17HR .R. MARVIV, Jr., Town
Clerk, 8 Elm Street,`Mamaroneck, New York, and enclosed in a sealed
envelopemarked on the outs-ide, ''Proposal :for Bonds.'
The successful bidder will be furnished with' the opinion of
Messrs. Hawkins,. Delafkeld & .Longfellow, -of- !New York 6ity, that the,
bonds are°.binding and legal obligations of the Town.of Mamaroneck, payable._
in the first ins8ance, from .assessments and not from a general town tax,
which, however, may be levied.if there is a shortage in the primary fund.
By order..of: the. Town Board,
DATED, Narch 14, 1932.
WALTER' R. I-EARVIN. JR.
TONN CLERK
FURTHER RFSOLVFD, that the Town Board meet at the time and
place specified in the notice of sale to act upon proposals
received for said bonds.
The question ofthe adoption -of the foregoing resolution was duly
put to a 'vote which result -ed as follows: ,
Ayes: George W. Burton, Supervisor
Walter R. Marvin, . Jr. , Town Clerk
William .A. Boyd
William D. Leeds jJustices of
Wesley 111. jaessersmi.th) . the Peace
Walter C. Burbank j
Noes: None
The Supervisor submitted the agreement referred to him at the
meeting on March 9th, covering the use of water from the -mains of the
New Rochelle mater company in the Dillon Park Section.. in the Town.. He
reported. that the agreement had been approved by the Doard .of Trustees
of the :restchester Joint dater Works, Now. 1 and Special Counsel. J.
Henry Fsser.
Vp:on motion by Justice Messersmith, seconded by Justice Boyd,
it was upon roll call.unanimously
RFSOLVED, that the agreement between .the iiew Aochelle.
Water Company and the Town of Mamaroneck covering the..
service of water in Dillon Park for fire purposes;. at the
hydrants specified therein and service to the apartment
house of 1ichael Doherty, which agreement has been
approved by Special Counsel J. Henry Fssers be and it
hereby is approved, and be it further
FURTHER RESOLVED, that
duly sold.and executed
when said bonds shall have been
the.same shall be -delivered to the
purchase -r upon, ,.,payment.
--of the
.purcha.se price to the duper_
visor, .and the recdipt
of the
Supervisor shall be a full
acquittance to the purchaser -who
shall. not be obliged to
see to the application
.of the
purchase money.
The question ofthe adoption -of the foregoing resolution was duly
put to a 'vote which result -ed as follows: ,
Ayes: George W. Burton, Supervisor
Walter R. Marvin, . Jr. , Town Clerk
William .A. Boyd
William D. Leeds jJustices of
Wesley 111. jaessersmi.th) . the Peace
Walter C. Burbank j
Noes: None
The Supervisor submitted the agreement referred to him at the
meeting on March 9th, covering the use of water from the -mains of the
New Rochelle mater company in the Dillon Park Section.. in the Town.. He
reported. that the agreement had been approved by the Doard .of Trustees
of the :restchester Joint dater Works, Now. 1 and Special Counsel. J.
Henry Fsser.
Vp:on motion by Justice Messersmith, seconded by Justice Boyd,
it was upon roll call.unanimously
RFSOLVED, that the agreement between .the iiew Aochelle.
Water Company and the Town of Mamaroneck covering the..
service of water in Dillon Park for fire purposes;. at the
hydrants specified therein and service to the apartment
house of 1ichael Doherty, which agreement has been
approved by Special Counsel J. Henry Fssers be and it
hereby is approved, and be it further
RESOLVED, that said..agreement be, -signed by .the
Supervisor and ,.seale.d. wi th the corporate seal
of the Town,attested by the Town Clerk.
The Town Clerk presented his r-ep.ort for the, month of
February which was ordered received and placed on.file.
Supervisor Burton stated that:at a meeting held on November
i3, 1931s, this Board adopted certain resolutions authorizing the issuance
of temporary certificates of indebtedness aggregating the sum of :. ,75tQO(X
to pay the cost of improving Chatsworth and Rockingstone Avenues, in the
Town of Ma' maroneck, New York, in accordance. with the provisions. of the
ffighway 'Lava, in anticipation -of the sale., o.f hk&rh:way improvement bonds;
that said resolutions contain a report made -by the.Supervisor to the
effect that he had negotiated the sale to :The First national bank..& Trust
Company of Mamaroneck, 1V-ew .York, of one or more temporary. certificates of
indebtedness bearing interest -at the rate...of 6f per annum, a.t.par,
aggregating the sum of'p509000.00 which..action had been ratified and
confirmed by this Board® That said resolutions also. -contain a text of
the certificate of indebtedness authorized to 3je -issued thereunder, which
gives the date of issuance thereof as of October 1st, 1931, and. the
maturity -thereof as of April.lst, 1932. ..That subsequent to the
adoption of said resolutions -The., --First National Bank &.Trust Company
of Mamaroneck, New York, found it inconvenient to purchas=e more than
one certificate fo.r. 8109.000..00.. and that the balance the:L-e.o:f.' still.._ remains
unsold.
The Supervisor thereupon suggested thata resolution be adopted
by this Board amending-the,resoluti.ons of November.13,.1931, by omitting
in the. form.: of the.: temporary certificate of .ind-ebtedness the date of
issuance and the ,date of'. maturity thereof,, and',by providing that the
Supervisor. may -be authorized a.nd ..empowered to rai=se. and provide the
additional sum of $65,000.00 by one or more temporary certificates of
indebtedness, from time to time; as the money may be required to finance
said improvement 'and in such denominations-. and -upon :such- .terms and
conditions as the Supervisor may determine, provided, however,, that.said
certificates shall be sold for not-less,than par and,at.a rate of interest
not exceeding.4% pe.r annum.
Thereupon the following -'resolution was..offered for adoption
by -Justice liessersmith and se.conded.by Justice Boyd:
RFSOLVEDB- tkat the text of the temporary certificates of
indebtedness authorized' to be issued and sold to pay the
cost of improving Chatsworth and Rodangtone Avenues, in.
the Town of Mamaroneck, New York, in' anticipation of.the
..issuance and sale of: highw-ay. improvement bonds contained
in the resolutions adopted by this Board on November 13_, 1931p.
be and the same hereby is modified and amended so as to, omit -
therefrom the dates of the issuance {�_Oct_ober 11, 193;1) and the'-
date
he..date of the maturity (April 11, 193:2) thereof;- and it is
further
RFSOLVBD, that except as hereby modified and amended, the said
resolutions of November 13, 1931, shall remain unaffected and
in full force and effect.a
RESOLVED, that said resolutions, particularly the portion
thereof which authorizes the sale. of temporary certificates
of indebtedness in the amount of $50,000.00 to The First
National Bank &.Trust Company of Mamaroneck, New York, be
and hereby are further- modified and amended so as to read
as follows a
RESOLVED,, that the Supervisor be and hereby is authorized
and empowered to raise and provide the said sum of $75,.000..
less the sum of $109000. already realized by issuing and
selling one or more temporary certificates of indebtedness,:
from time to time as the money may be required to finance
and pay the cost of said improvement, in such denominations,
maturing at such times and upon such other terms and-con—
ditions as he may deem best and.determine,, provideds, however,
that such certificates shall not be sold for less than pa.r
and at a rate of interest not to exceed 6% per annum; and
it is further
RFSOLVBD, that except as hereby modified and amended, the said
resolutions of November 13, 1931, shall remain unaffected and
in full force and effect.a
113
The question of the- adoption .of -the foregoing resolutions
was put to a v'otej which re-sulted as%--followsr
Ayes: Supervisor Burton, Justices Boyd, Leeds, Messersmith
and Burbank,_ Town Clerk Marvin.
Noes: Cone.
The chair declared the 'resolutions duly'.adopted®
A communication dated March 12th was received from Michael
Doherty of Larchmont .advising ,the, Board that when, as and if :the Town
of Mamaroneck and/or the Westchester Joint Water Works, Noa 1 takes over
the water mains 'of the Dillon Park section, he would take water service
from the Town and/or the Nater Works..
The communication was ordered received and- placed on file.
Justice Leeds su
ggested that it would be fitting and proper
for the Board to take congnizance of _the recent ddath of Herman Fougnert
a Trustee of the Village of LarcYrnont and_ a member. of the joint committee
investigating.th.e gues.tion of a proposed Incinerator District. -
Upon motion'by Justice Leeds; seconded by the Clerk, it was
unanimously
RESOLVED, that the Chair appoint a committee to draw a
suitable resolution in' regardto t*:he untimelyr death of
Trustee. Fougner.
The Supervisor thereupon appointed to thus committee Town Clerk
Marvin, Justices.Burbank and, Leeds, Counselor.Gamble®
At 11:30 A. Mi. the Board unanimously resolved to recess out
of respect to Trustee Herman Fougner to meet again at -the call of the
chair to take up such matters as might properly come before it.
Town Clerk
Ll