VILLAGE OF BREWSTER
BOARD OF TRUSTEES
Draft Minutes
The Board of Trustees of the Village of Brewster is holding a Regular Meeting on May 2, 2007 at Village Hall, 208 Main Street, Brewster, New York. The meeting is called to order at 7:30 P.M. by Mayor Degnan
Attendees: Absent:
Mayor: John Degnan Deputy Mayor and Trustee: William Banks
Trustees; James Schoenig, Yoshihiko Ito,
Terri Stockburger
Village Engineer: John Folchetti,
Village Counsel: Gary Kropkowski
Clerk & Temporary Treasurer: Peter Hansen
Pledge to flag.
Mayor Degnan motioned to open the meeting, trustee Schoenig seconded, Vote 4-0 in favor.
EXTRACT OF MINUTES
Meeting of the Board of Trustees
of the Village of Brewster, in the
County of Putnam, New York
May 2, 2007
* * *
A regular meeting of the Board of Trustees of the Village of Brewster, New York, was held at the Village Hall, 208 Main Street, Brewster, New York, on May 2, 2007 at 7:30 o’clock P.M. (Prevailing Time).
There were present: John Degnan, Mayor;
Trustees: James Schoenig
Teresa Stockburger
Yoshihiko Ito
There were absent:
Trustee: William Banks
Also present: Peter B. Hansen, Village Clerk
* * *
Trustee Stockburger offered the following resolution and moved its adoption:
BOND RESOLUTION OF THE VILLAGE OF BREWSTER, NEW YORK, ADOPTED MAY 2, 2007, AUTHORIZING THE CONSTRUCTION OF VARIOUS IMPROVEMENTS TO THE VILLAGE SEWER SYSTEM, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $4,437,700, APPROPRIATING SAID AMOUNT THEREFOR, AUTHORIZING THE ISSUANCE OF $4,437,700 SERIAL BONDS OF SAID VILLAGE TO FINANCE SAID APPROPRIATION, AND AUTHORIZING ANY FUNDS TO BE RECEIVED FROM THE CITY OF NEW YORK OR ANY OTHER SOURCE TO BE EXPENDED TOWARDS THE COST OF SAID OBJECT OR PURPOSE OR REDEMPTION OF THE VILLAGE’S BONDS OR NOTES ISSUED THEREFOR OR TO BE BUDGETED AS AN OFFSET TO THE TAXES FOR THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON SAID BONDS OR NOTES.
THE BOARD OF TRUSTEES OF THE VILLAGE OF BREWSTER, IN THE COUNTY OF PUTNAM, NEW YORK, HEREBY RESOLVES (by the favorable vote of not less than two-thirds of all the members of said Board of Trustees) AS FOLLOWS:
Section 1. The Village of Brewster, in the County of Putnam, New York (herein called “Village”), is hereby authorized to construct various improvements to the Village sewer system, consisting of the installation of lateral sewer lines and building connections from the new sanitary sewer pipe stubs to individual buildings, including the installation of approximately 30,300 linear feet of 4 and 6 inch diameter PVC sewer, 1,200 liner feet of 8 inch diameter PVC sewer main and all original furnishings, equipment, machinery, apparatus, other paving, fencing, restoration, demolition, facility connections and all appurtenant and other work related thereto and in connection therewith. The estimated maximum cost thereof, including preliminary costs and costs incidental thereto and to the financing thereof, is $4,437,700 and said amount is hereby appropriated therefor. The plan of financing includes the issuance of $4,437,700 serial bonds of the Village to finance said appropriation, and the levy and collection of taxes on all 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. Any funds received from the City of New York or from any other source in connection with such project are authorized to be applied towards the cost of said project or redemption of the Village’s bonds or notes issued therefor, or to be budgeted as an offset to the taxes for the payment of the principal of and interest on said bonds or notes.
Section 2. Serial bonds of the Village in the principal amount of $4,437,700 are hereby authorized to be issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33-a of the Consolidated Laws of the State of New York (herein called “Law”), to finance said appropriation.
Section 3. The following additional matters are hereby determined and declared:
(a) The period of probable usefulness applicable to the purpose for which said serial bonds are authorized to be issued, within the limitations of Section 11.00 a. 4. of the Law, is forty (40) years.
(b) The proceeds of the bonds herein authorized and any bond anticipation notes issued in anticipation of the sale of said bonds may be applied to reimburse the Village for expenditures made after the effective date of this resolution for the purpose for which said bonds are authorized. The foregoing statement of intent with respect to reimbursement is made in conformity with Treasury Regulation Section 1.150-2 of the United States Treasury Department.
(c) The proposed maturity of the bonds authorized by this resolution will exceed five (5) years.
Section 4. Each of the bonds authorized by this resolution and any bond anticipation notes issued in anticipation of the sale of said bonds shall contain the recital of validity as prescribed by Section 52.00 of the Law and said bonds and any notes issued in anticipation of said bonds shall be general obligations of the Village, payable as to both principal and interest by general tax upon all the taxable real property within the Village without limitation of rate or amount. The faith and credit of the Village are hereby irrevocably pledged to the punctual payment of the principal of and interest on said bonds, and any notes issued in anticipation of the sale of said bonds, and provision shall be made annually in the budget of the Village by appropriation for (a) the amortization and redemption of the bonds and any notes in anticipation thereof to mature in such year and (b) the payment of interest to be due and payable in such year.
Section 5. Subject to the provisions of this resolution and of the Law and pursuant to the provisions of Section 21.00 relative to the authorization of the issuance of bonds with substantially level or declining debt service and Section 30.00 relative to the authorization of the issuance of bond anticipation notes and of Section 50.00 and Sections 56.00 to 60.00 of the Law, the powers and duties of the Board of Trustees relative to authorizing bond anticipation notes and prescribing the terms, form and contents and as to the sale and issuance of the bonds herein authorized, and of any bond anticipation notes issued in anticipation of said bonds, and the renewals of said bond anticipation notes, are hereby delegated to the Village Treasurer, the chief fiscal officer of the Village.
Section 6. The validity of the bonds authorized by this resolution, and of any notes issued in anticipation of the sale of said bonds, may be contested only if:
(a) such obligations are authorized for an object or purpose for which the Village is not authorized to expend money, or
(b) the provisions of law which should be complied with at the date of the publication of such resolution, or a summary thereof, are not substantially complied with,
and an action, suit or proceeding contesting such validity is commenced within twenty days after the date of such publication, or
(c) such obligations are authorized in violation of the provisions of the constitution.
Section 7. This bond resolution shall take effect immediately, and the Village Clerk is hereby authorized and directed to publish the foregoing resolution, in summary, together with a Notice attached in substantially the form prescribed by §81.00 of the Law in “The Putnam Press,” a newspaper having a general circulation in the Village and hereby designated the official newspaper of said Village for such publication.
* * *
The adoption of the foregoing resolution was seconded by Trustee Schoenig and duly put to a vote on roll call, which resulted as follows:
AYES:
Trustee Schoenig – Aye
Trustee Stockburger – Aye
Mayor Degnan - Aye
Trustee Ito - Aye
ABSENT:
Trustee Banks
NOES:
The resolution was declared adopted.
********
CERTIFICATE
I, PETER B. HANSEN, Village Clerk of the Village of Brewster, in the County of Putnam, State of New York, HEREBY CERTIFY that the foregoing annexed extract from the minutes of a meeting of the Board of Trustees of said Village of Brewster duly called and held on May 2, 2007, has been compared by me with the original minutes as officially recorded in my office in the Minute Book of said Board of Trustees and is a true, complete and correct copy thereof and of the whole of said original minutes so far as the same relate to the subject matters referred to in said extract.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of said Village of Brewster this 2nd day of May, 2007.
(SEAL) Official Copy on File in Clerk’s Office
Village Clerk