NOTICE IS HEREBY GIVEN that, pursuant to Section 38.00 of the Local Finance Law and Section 179 of the Town Law, a special election of the qualified voters of Germantown Fire District, Columbia County, New York, will be held at the Germantown Firehouse, 181 Main Street in Germantown, New York, in said Fire District, on the 25th day of June, 2019, between the hours of 6:00 o’clock P.M. and 9:00 o’clock P.M., Prevailing Time, for the purpose of voting by ballot on the adoption or rejection of the following resolution:
BOND RESOLUTION DATED MAY 20, 2019.
A RESOLUTION AUTHORIZING THE PURCHASE OF AIR PACKS AND RELATED EQUIPMENT, IN AND FOR THE GERMANTOWN FIRE DISTRICT, COLUMBIA COUNTY, NEW YORK, AT A MAXIMUM ESTIMATED COST OF $106,686.82 AND AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $106,686.82 BONDS OF SAID FIRE DISTRICT TO PAY COSTS THEREOF.
BE IT RESOLVED, by the Board of Fire Commissioners of Germantown Fire District, Columbia County, New York, as follows:
Section 1. The purchase of air packs and related equipment, in and for the Germantown Fire District, Columbia County, New York, is hereby authorized at a maximum estimated cost of $106,686.82.
Section 2. The plan for the financing of the aforesaid maximum estimated cost is by the issuance of not exceeding $106,686.82 bonds of said Fire District hereby authorized to be issued therefor pursuant to the provisions of the Local Finance Law.
Section 3. It is hereby determined that the period of probable usefulness of the aforesaid class of objects or purposes is five years pursuant to subdivision 32 of paragraph a of Section 11.00 of the Local Finance Law.
Section 4. The faith and credit of said Germantown Fire District, Columbia County, New York, are hereby irrevocably pledged for the payment of the principal of and interest on such bonds as the same respectively become due and payable. An annual appropriation shall be made in each year sufficient to pay the principal of and interest on such bonds becoming due and payable in such year. There shall annually be levied on all the taxable real property in said Fire District a tax sufficient to pay the principal of and interest on such bonds as the same become due and payable.
Section 5. Subject to the provisions of the Local Finance Law, the power to authorize the issuance of and to sell bond anticipation notes in anticipation of the issuance and sale of the bonds herein authorized, including renewals of such notes, is hereby delegated to the Fire District Treasurer, the chief fiscal officer. Such notes shall be of such terms, form and contents, and shall be sold in such manner, as may be prescribed by said Fire District Treasurer, consistent with the provisions of the Local Finance Law.
Section 6. All other matters except as provided herein relating to the bonds herein authorized including the date, denominations, maturities and interest payment dates, within the limitations prescribed herein and the manner of execution of the same, including the consolidation with other issues, and also the ability to issue bonds with substantially level or declining annual debt service, shall be determined by the Fire District Treasurer, the chief fiscal officer of such Fire District. Such bonds shall contain substantially the recital of validity clause provided for in Section 52.00 of the Local Finance Law and shall otherwise be in such form and contain such recitals, in addition to those required by Section 51.00 of the Local Finance Law, as the Fire District Treasurer shall determine consistent with the provisions of the Local Finance Law.
Section 7. The validity of such bonds and bond anticipation notes may be contested only if:
1) Such obligations are authorized for an object or purpose for which said Fire District is not authorized to expend money, or
2) The provisions of law which should be complied with at the date of publication of this resolution 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
3) Such obligations are authorized in violation of the provisions of the Constitution.
Section 8. This resolution shall constitute a statement of official intent for purposes of Treasury Regulations Section 1.1502. Other than as specified in this resolution, no monies are, or are reasonably expected to be, reserved, allocated on a long-term basis, or otherwise set aside with respect to the permanent funding of the object or purpose described herein.
Section 9. Upon this resolution taking effect, the same shall be published in summary in the Hudson Register Star, which is hereby designated as the official newspaper of said Fire District for such purpose, together with a notice of the Fire District Secretary in substantially the form provided in Section 81.00 of the Local Finance Law.
Section 10. This resolution is adopted subject to approval at a special election of said Fire District to be held on the 25th day of June 2019.