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Posted on: March 13, 2019

NOTICE OF ADOPTION OF BOND RESOLUTION SUBJECT TO PERMISSIVE REFERENDUM


NOTICE OF ADOPTION OF RESOLUTION
SUBJECT TO PERMISSIVE REFERENDUM

                        NOTICE IS HEREBY GIVEN that at a regular meeting held on the 12th day of March, 2019, the Town Board of the Town of Red Hook, Dutchess County, New York, duly adopted a bond resolution entitled “AMENDMENT TO BOND RESOLUTION; A RESOLUTION AMENDING BOND RESOLUTION NO. 88 OF 2017 DATED DECEMBER 12, 2017, AS AMENDED BY BOND RESOLUTION NO. 86 OF 2018 DATED DECEMBER 11, 2018, AUTHORIZING RECREATION PARK IMPROVEMENTS AT AN ESTIMATED INCREASED MAXIMUM COST OF $2,425,000, THE ISSUANCE OF SERIAL BONDS OF THE TOWN OF RED HOOK, DUTCHESS COUNTY, NEW YORK IN AN INCREASED AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $1,500,000 PURSUANT TO THE LOCAL FINANCE LAW TO FINANCE A PORTION OF THE COST THEREOF, THE EXPENDITURE OF $430,000 FROM RECREATION RESERVE FUNDS, AND PROVIDING THAT THIS RESOLUTION SHALL BE SUBJECT TO A PERMISSIVE REFERENDUM AND DELEGATING CERTAIN POWERS IN CONNECTION THEREWITH TO THE TOWN SUPERVISOR”, an abstract of which follows, which resolution is subject to permissive referendum pursuant to Section 35 of the Local Finance Law and Article Seven of the Town Law of the State of New York.

            Said resolution authorizes the improvement of facilities at the existing Recreation Park east of Linden Avenue and the Recreation Park annex west of Linden Avenue included in Phase I of the master plan, including improvements to an existing field to create a Challenger Field, a new ballfield, improvements to accessibility, replacement of playground equipment, trails, upgrades to existing facilities, and related parking and infrastructure, at an increased estimated maximum cost of $2,425,000, and a period of probable usefulness of 15 years. 

            The resolution further authorizes the issuance of serial bonds of the Town of Red Hook, Dutchess County, New York, in an increased aggregate principal amount not to exceed $1,500,000 pursuant to the Local Finance Law to finance a portion of the cost thereof, with a proposed maturity in excess of 5 years, and delegates certain powers to the Town Supervisor.  The resolution authorizes the payment of a portion of the cost of said purpose in the amount of $430,000 from the Town’s recreation reserve funds.  A portion of the remaining cost is expected to be paid from the following sources: $250,000 from CDBG grants, $30,000 from cash donations and approximately $20,000 in in-kind donations for the playground project, and $75,000 from a Greenway grant in cooperation with Winnakee Land Trust.  The remaining $120,000 cost of the project is expected to be paid from other available funds.

            It has been determined that such purpose constitutes an unlisted action as defined under the State Environmental Quality Review Regulations, which will not have a significant effect on the environment.

            Said resolution shall take effect thirty days after adoption, unless there shall be filed with the Town Clerk a petition signed and acknowledged by the electors of the Town qualified to vote upon a proposition to raise and expend money, in number equal to at least five percentum of the total vote cast for governor in the Town at the last general election held for the election of State officers, protesting against the resolution and requesting that the matter be submitted to the qualified electors of the Town at a referendum in the manner provided by the Town Law.

            A copy of the resolution is available for public inspection during normal business hours at the Office of the Town Clerk, located at the Town Hall, 7340 South Broadway, Red Hook, New York 12571.

Dated: March 12, 2019

Sue McCann
Town Clerk

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