Bond Resolution - Fire Department Scott Packs
VILLAGE OF BABYLON, NEW YORK
PLEASE TAKE NOTICE that on February 28, 2023, the Board of Trustees of the Village of Babylon, in the County of Suffolk, New York, adopted a bond resolution entitled:
BOND RESOLUTION OF THE VILLAGE OF BABYLON, NEW YORK, ADOPTED FEBRUARY 28, 2023, AUTHORIZING THE ACQUISITION OF SCOTT PACKS FOR USE BY THE VILLAGE FIRE DEPARTMENT, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $180,000, APPROPRIATING SAID AMOUNT FOR SUCH PURPOSE, AND AUTHORIZING THE ISSUANCE OF BONDS IN THE PRINCIPAL AMOUNT OF $180,000 TO FINANCE SAID APPROPRIATION.
an abstract of such bond resolution, concisely stating the purpose and effect thereof, being as follows:
FIRST: AUTHORIZING said Village to acquire Scott Packs for use by the Fire Department at the estimated maximum cost of $180,000; STATING the estimated maximum cost thereof, including preliminary costs and costs incidental thereto and the financing thereof, is $180,000; APPROPRIATING said amount for such purpose; and STATING the plan of financing includes the issuance of bonds in a principal of not to exceed $180,000 to finance said appropriation, and the levy and collection of taxes upon all the taxable real property in the Village to pay the principal of said bonds and the interest thereon as the same shall become due and payable;
SECOND: AUTHORIZING the issuance of bonds in a principal amount of not to exceed $180,000 pursuant to the Local Finance Law of the State of New York (the “Law”) to finance said appropriation;
THIRD: DETERMINING and STATING the period of probable usefulness applicable to the purpose for which said bonds are authorized to be issued is fifteen (15) years; the proceeds of said bonds and any bond anticipation notes issued in anticipation thereof may be applied to reimburse the Village for expenditures made after the effective date of this bond resolution for the purpose for which said bonds are authorized; and the proposed maturity of said bonds will exceed five (5) years;
FOURTH: DETERMINING that said bonds and any bond anticipation notes issued in anticipation of said bonds and the renewals of said bond anticipation notes shall be general obligations of the Village; and PLEDGING to their payment the faith and credit of the Village;
FIFTH: DELEGATING to the Village Treasurer the powers and duties as to the issuance of said bonds, and any bond anticipation notes issued in anticipation of said bonds, or the renewals thereof; and
SIXTH: DETERMINING that the bond resolution is subject to a permissive referendum.
DATED: February 28, 2023
Jean Marie Parker
Village Clerk