ABANDONMENT: Dunn Road ABSTRACTS: GENERAL FUND ...
ABANDONMENT: Dunn Road ABSTRACTS: GENERAL FUND ... ABANDONMENT: Dunn Road ABSTRACTS: GENERAL FUND ...
A r provided that the sum of $4,397.00 of such cost was to be paid from existing funds in the Highway Budget, and the balance of $70,000.00 of such cost was to be paid from the proceeds of obligations to be issued, pursuant to the Local Finance Law. NOW, THEREFORE, BE IT RESOLVED: SECTION 1. That the specific object and purpose for which the obligations are to be issued, pursuant to this Resolution, is to finance the cost of said highway truck. SECTION 2. That the maximum estimated cost of such specific object or purpose is $74,397.00 and the plan for financing therefor is as follows: made: a) By the issuance of separate Serial Bonds in the total amount of $70,000.00, consisting of five (5) separate Bonds, each in the amount of $14,000.00, hereby authorized to be issued pursuant to the Local Finance Law and this Resolution; b) By allocation of $4,397.00 from the Highway Fund of the Town of Boston available therefor and appropriated for such purpose in the 1993 Budget of the Town of Boston. SECTION 3. The following determinations are hereby a) The period of probable usefulness of such vehicle is at least five (5) years; J 1
L .i2,:j:i-i^-£-'2J'.r"/l^Si.-i b) The subdivision of Paragraph "A" of Local Finance Law §11.00 applicable in the circumstances is Subdivision "29": c) The proposed maturity of the obligations authorized by this Resolution will not be in excess of five (5) years. SECTION 4. That the Town of Boston, Erie County, New York, issue its serial bonds in the amount of $70,000.00 to finance such cost in accordance with the financial plan set forth above. Such bonds shall be dated approximately as of the date of adoption of this Resolution and the power to fix and determine the exact date of such bonds is hereby delegated to the Supervisor. SECTION 5. That such bonds shall be numbered consecutively and shall be in the total amount of $70,000.00 and shall mature in numerical order in annual installments in the years and in the total amounts as follows: $14,000.00 $14,000.00 $14,000.00 $14,000.00 $14,000.00 July 14, 1994 July 14, 1995 July 14, 1996 July 14, 1997 July 14, 1998 in such individual amounts to be determined; and said bonds shall be issued in bearer form without coupons and shall contain a power to convert to registered form in accordance with the applicable provisions of the Local Finance Law. The bonds shall bear interest at a rate not exceeding four percent (4%) per annum. Payments of such interest shall be evidenced by notation thereof on said bonds at the time of payment. The bonds shall be substantially in the form of the proposed bond which is attached hereto and made a part of this Resolution. L "1 A
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L<br />
.i2,:j:i-i^-£-'2J'.r"/l^Si.-i<br />
b) The subdivision of Paragraph "A" of Local<br />
Finance Law §11.00 applicable in the circumstances<br />
is Subdivision "29":<br />
c) The proposed maturity of the obligations<br />
authorized by this Resolution will not be in excess<br />
of five (5) years.<br />
SECTION 4. That the Town of Boston, Erie County, New<br />
York, issue its serial bonds in the amount of $70,000.00 to finance<br />
such cost in accordance with the financial plan set forth above.<br />
Such bonds shall be dated approximately as of the date of adoption<br />
of this Resolution and the power to fix and determine the exact<br />
date of such bonds is hereby delegated to the Supervisor.<br />
SECTION 5. That such bonds shall be numbered<br />
consecutively and shall be in the total amount of $70,000.00 and<br />
shall mature in numerical order in annual installments in the years<br />
and in the total amounts as follows:<br />
$14,000.00<br />
$14,000.00<br />
$14,000.00<br />
$14,000.00<br />
$14,000.00<br />
July 14, 1994<br />
July 14, 1995<br />
July 14, 1996<br />
July 14, 1997<br />
July 14, 1998<br />
in such individual amounts to be determined; and said bonds shall<br />
be issued in bearer form without coupons and shall contain a power<br />
to convert to registered form in accordance with the applicable<br />
provisions of the Local Finance Law. The bonds shall bear interest<br />
at a rate not exceeding four percent (4%) per annum. Payments of<br />
such interest shall be evidenced by notation thereof on said bonds<br />
at the time of payment. The bonds shall be substantially in the<br />
form of the proposed bond which is attached hereto and made a part<br />
of this Resolution.<br />
L<br />
"1<br />
A
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