Documents › Board Of Trustees, 2026-06-17

resolution 4 pages

Bond Resolution #135, dated June 17, 2026, authorizes, subject to permissive referendum, the Brook Street drainage project, including design work, at a maximum estimated cost of $1,519,525, financed by $1,519,525 in serial bonds of the Village of Croton-on-Hudson. Any grants-in-aid received would reduce the borrowing dollar for dollar, and the period of probable usefulness is set at 40 years.

Also attached to this agenda item: Resolution 127 EMS Equip Resolution 133 EMS Facility Resolution 128 Harmon Parking Lot Resolution 129 Police Multi Resolution 130 Police vehicles Resolution 131 Shoreline Resolution 132 V-Mgr Car Resolution 134 Air Conditioning Resolution 136 Command Car Resolution 137 Comm-Tech Police Equip Resolution 138 Farrington Road Resolution 139 Fire Fighting Vehicles

On motion of TRUSTEE ________, seconded by TRUSTEE __________, the following resolution was adopted by the Board of Trustees of the Village of Croton- on- Hudson, New York with the following roll call vote: BOND RESOLUTION # 135 DATED JUNE 17, 2026. A AUTHORIZING, SUBJECT TO PERMISSIVE REFERENDUM, THE BROOK STREET DRAINAGE PROJECT, IN AND FOR THE VILLAGE OF CROTON-ON-HUDSON, WESTCHESTER COUNTY, NEW YORK, AT A MAXIMUM ESTIMATED COST OF $1,519,525 AND AUTHORIZING THE ISSUANCE OF $1,519,525 SERIAL BONDS OF SAID VILLAGE TO PAY THE COST THEREOF. WHEREAS, the capital project hereinafter described, as proposed, has been determined to be a Type II Action pursuant to the regulations of the New York State Department of Environmental Conservation promulgated pursuant to the State Environmental Quality Review Act, which regulations state that Type II Actions will not have a significant adverse effect on the environment; and WHEREAS, it is now desired to authorize the financing thereof, NOW, THEREFORE, BE IT RESOLVED, by the affirmative vote of not less than two-thirds of the total voting strength of the Board of Trustees of the Village of Croton-on-Hudson, Westchester County, New York (the “Village”), as follows: Section 1. The Brook Street drainage project, in and for the Village of Croton-on- Hudson, Westchester County, New York, including design work, original furnishings, equipment, machinery, apparatus, appurtenances, and incidental improvements and expenses in connection therewith, is hereby authorized at a maximum estimated cost of $1,519,525. Section 2. The plan for the financing of the aforesaid maximum estimated cost is by the issuance of $1,519,525 serial bonds of said Village, hereby authorized to be issued therefor pursuant to the provisions of the Local Finance Law, PROVIDED, HOWEVER, that to the extent that any grants-in-aid are received for such purposes, the amount of obligations to be issued pursuant to this resolution shall be reduced dollar for dollar. Section 3. It is hereby determined that the period of probable usefulness of the aforesaid specific object or purpose is 40 years, pursuant to subdivision 4 of paragraph a of Section 11.00 of the Local Finance Law. It is hereby further determined that the maximum maturity of the serial bonds herein authorized will exceed five years. Section 4. The faith and credit of said Village of Croton-on-Hudson, Westchester 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 of said Village, 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 serial bonds herein authorized, including renewals of such notes, is hereby delegated to the Village 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 Village Treasurer, consistent with the provisions of the Local Finance Law. Section 6. The powers and duties of advertising such bonds for sale, conducting the sale and awarding the bonds, are hereby delegated to the Village Treasurer, who shall advertise such bonds for sale, conduct the sale, and award the bonds in such manner as the Village Treasurer shall deem best for the interests of said Village, however, that in the exercise of these delegated powers, the Village Treasurer shall comply fully with the provisions of the Local Finance Law and any order or rule of the State Comptroller applicable to the sale of municipal bonds. The receipt of the Village Treasurer shall be a full acquittance to the purchaser of such bonds, who shall not be obliged to see to the application of the purchase money. Section 7. All other matters except as provided herein relating to the serial 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 serial bonds with substantially level or declining annual debt service, shall be determined by the Village Treasurer, the chief fiscal officer of such Village. 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 Village Treasurer shall determine consistent with the provisions of the Local Finance Law. Section 8. 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 Village 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 9. This resolution shall constitute a statement of official intent for purposes of Treasury Regulations Section 1.150-2. 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 10. Upon this resolution taking effect, the same shall be published in summary form in the official newspaper of said Village for such purpose, together with a notice of the Village Clerk in substantially the form provided in Section 81.00 of the Local Finance Law. Section 11. THIS RESOLUTION IS ADOPTED SUBJECT TO PERMISSIVE REFERENDUM.