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HomeMy WebLinkAboutTB-06/03/1947 4 Meeting of June 3, 1947 The Southold Town Board met at the office 6f the Supervisor 'S.' Wentworth Horton at Greenport, on 'Tuesday7 June 3, 1947. The meeting was' called to otder at 1:30 P.M. with the following present: max_ Supervisor Horton; Justices Terry; Hawkins; Klipp and Tuthill; Town Supekintendent of Highways' Price; Town Attorney' Terry and Town. Clerk, Booth. The Board sat at once as a committee on audit to examine claims '- against the Town, concluding the audit at 2:00 P.M. +* The minutes of the previous meeting were read and duly approved as read. Moved by Justice Klipp; seconded by Justice Terry: Resolved: That General Bills in the amount of $3,117. 59, Non- reimbursable Welfare Bills in the amount of $18,25 be and the same is hereby ordered paid® Unanimously adopted. - Moved by Justice Terry; seconded by Justice Klipp: Resolved: 'hat the regular monthly meeting of this Board be held at the Sla.pervisor' s office on Thursday June 1qq, 194 at 1:30 M. t.nAalmously adopted. It:.q. later4 decided �,.o h6l :this�m!�q ng at r Fishers Island. u � - Moved by Justice Tuthill; seconded by Justice Hawkins: Whereas, . the Town Board of the Town. of. Southold, N.Y® , - by a resolution duly adopted the 23rd day of.May, 1947, authorized the Town Superintendent of Highways to purchase certain equipment for .-. }, highway ,construction ,and maintenance at a total cost of $10,215.20 subject,, ,to the approval of the County- Superintendent of Highways, and provided that $9,000. of such cost was to be paid from the. pro ceeds of obligations to be issued pursuant to the Local Finance Law, and WHEREAS, a contract of purchase for such equipment was duly entered into by the Town Superintendent of Highways on the 23rd day of May, 19479 which contract has been duly approved by the County Superin- tendeht of Highways. NOW THEREFORE, BE IT RESOLVED: ` �. The specific object or purpose for which obligations are to be issued pursuant to this resolution is to finance the cost of _ 1-Model H D I O ,W Allis Chalmers Diesel Tractor 74" tread, 2 cycle, Diessel engine, 20" H.Y. Track Shoes, positive seal truck wheels & front idlers; truck wheel.. froftt idler and sprocket guards; full width crankease. guard; extra peavey radiator guard; muffler; adjustable radiator shutters;bumper, front pull hook; electric starting & lighting equipment; , hood side plates with -Gardood R C D X hydraulic Bulldozer with front pump. 1. 2. The maximum cost of such equipment is $10,215.20 and the plan of financing such cost is as follows: A down payment of $1,215.20 .. is to be paid from the machinery fund_, and the balance of the cost is to be provided by the issuance oficapital note in the amount of $99000. pursuant to this resolution. �. 3. The following determinations are hereby made: •(a) The period of probable usefulness of such equipment is five years. (b) The subdivision of paragraph a of Section 11.00 of the ` Local Finance Law which is applicable in the' cirnumstances is subdivision 112811. (c) The proposed maturity of the obligations authorized by this resolution will not be in excess of one year. 4. The down payment required to be provided pursuant to Section 107.00 of the Local Finance Law has been provided from current funds. 5. That the Town of Southold issue its Capital Note in the amount of $.9,000.00 to finance Cush cost in accordance, with the financial plan set forth above. Such note shall be executed by the Supervisor and shall be . dated approximately as of the date of delivery .of, such equipment and the power to fix and determine the exact date of such obligation and the sale thereof is hereby. 85- delegated to the Supervisor, Y 6. Such Note shall be in the denomination of $9,000. and - :. shall bear interest at the rate not exceeding two per cent per annum. Such Note shall be in substantially the following forms- . No. 1 UNITED STATES OF AMERICA $9,000.00 STATE OF NEW YORK �► COUNTY OF SUFFOLK TOWN OF SOUTHOLD CAPITAL NOTE OF 1947 The Town of Southold, in the County of Suffolk, a municipality of the State of Newyork, hereby acknowledges itself indebted and for >. value received promises to pay to the bearer of this note the sum of NINE THOUSAND ($99000. ) Dollars, on the day of 1948, together with interest thereon from the date hereof at the -r� rate of 1.20 per centum (1.20%) per annum, payable annually. Both principal of and interest on this note will be paid in lawful money of the United States of America, at the office of the Supervisor, - y> Greenport, Suffolk County, New York. This note may not be converted to registered form. T' This note is the only note of an authorized issue in the amount of NINE THOUSAND ($9,000.) Dollars. This note is issued pursuant to the provisions of a resolution -- entitled "Capital Note Resolution" duly adopted by the Torn Board of such Town of Southold on June 3, 1947. The faith and credit of such Town of Southold are hereby ir- revocably pledged .for the punctual payment of the principal of and interest on this note according to its terms. It. is hereby certified and recited that all conditions, acts and things required by the Constitution and statutes of the State of New York to exist, to have happened and to' have beep performed = precedent to and in the issuance of this note, exist, have happened and have been performed, and that this note, together with all other indebkedness of such Town of Southold is within every debt and other limit prescribed by the Constitution and laws of such State. IN WITNESS WHEREOF, the Town of Southold, New York, has caused this Note to be signed by its Supervisor, and its corporate seal to be hereunto affixed and attested by its Town Clerk and this Note to be - � dated as of the day of June, 1947. Town of So thold, New York, Byi� L (Town Seal) Supervisor Attest® , ~y Towd Clerk of the Town of -- Southold, New York The Supervisor is hereby delegated the pwwer to prepare such note and to sell such obligations at private sale at not less than par and i7 accrued interest, and at such sale to fix interest date to be borne by such obligations within the limitations set forth in this �. resolution. The Supervisor shall deliver such obligations to the purchaser thereof only against cash or a certified check. The proceeds., of sale of the obligations shall be deposited in a special bank account as required by Section 165.00 of the Local Finance Law. The powers delegated to the Supervisor by this resolution shall be exercised in conformity with the provisions of the Local Finance Law. This resolution shall take effect immediately. Uponthe question of the adoption of the foregoing resolution, the following each voted "Aye" in favor of the resolution, Super- visor, S. Wentworth Horton, Justices of the peace, Harry Terry; _ Herbert M. Hawkins; N„rman E. Klipp and Ralph W. Tuthill. The resolution, having received at least a two-thirds vote of the -- members of the Town &ord, was declared by the Supervisor to be duly adopted. - > Adjounnment was at 3s00 P.M. Ralph P. Booth "`' Town Clerk