Minutes

City of Beacon Council Meeting

March 5, 2007

 

 

REGULAR MEETING

 

The regular meeting of the City of Beacon Council held at the Municipal Center, One Municipal Plaza on March 5, 2007 was called to order at 7:30 p.m. by Mayor Clara Lou Gould with the Pledge of Allegiance to the Flag.

 

Council Members Present:                                                      Lee Kyriacou, Elizabeth Foster, Charles Kelly, Phil Shea, and Steve Gold

 

Excused:                                                                                  Eleanor Thompson

 

Also in attendance were:                                         City Administrator, Joseph Braun

                                                                                                City Attorney, Gerard Pisanelli

 

Media represented by:                                                             Goldee Greene, Beacon Free Press

                                                                                                German Hayles, Beacon Dispatch

 

Residents in attendance at beginning:                      10

 

PUBLIC HEARINGS

 

1.  Proposed Local Law to Amend the Current Section 2.06C, Prohibitions, of the City of Beacon Charter.  Read by City Administrator, Joseph Braun.

 

NOTICE OF PUBLIC HEARING

PLEASE TAKE NOTICE that the City of Beacon will hold a public hearing on Monday, March 5, 2007 at the City of Beacon Municipal Center, One Municipal Plaza, Beacon, New York at 7:30 p.m. or as soon thereafter as the matter is reached on the agenda, to consider a proposed local law to Amend the Current Section 2.06C, Prohibitions, of the Beacon City Charter.

 

This local law would take effect immediately upon filing with the Secretary of State.  Complete copies of the proposed local law are available at the Municipal Center for inspection during regular business hours.

 

All interested persons and citizens shall have an opportunity to be heard on said proposals at the date, time and place aforesaid.

 

Public Hearing Comments:  None

 

Motion to close Public Hearing:  Council Member Gold.  Seconded:  Council Member Foster.  All voted in favor.  Motion carried.

 

2.  Proposed Local Law to Amend the Current Section 2.12, Inquiries and Investigations, of the City of Beacon Charter.  Read by City Administrator, Joseph Braun.

 

NOTICE OF PUBLIC HEARING

PLEASE TAKE NOTICE that the City of Beacon will hold a public hearing on Monday, March 5, 2007 at the City of Beacon Municipal Center, One Municipal Plaza, Beacon, New York at 7:30 p.m. or as soon thereafter as the matter is reached on the agenda, to consider a proposed local law to Amend the Current Section 2.12, Inquiries And Investigations, of the Beacon City Charter.

 

This local law would take effect immediately upon filing with the Secretary of State.  Complete copies of the proposed local law are available at the Municipal Center for inspection during regular business hours.

 

All interested persons and citizens shall have an opportunity to be heard on said proposals at the date, time and place aforesaid.

 

Public Hearing Comments:  None

 

Motion to close Public Hearing: Council Member Kelly.  Seconded: Council Member Shea.  All voted in favor.  Motion carried.

 

3.  Proposed Local Law to Amend Chapter 17, Section 17-3, Conservation Advisory Commission, to Increase the Number of Members from Seven to Nine.  Read by City Administrator, Joseph Braun.

NOTICE OF PUBLIC HEARING

PLEASE TAKE NOTICE that the City of Beacon will hold a public hearing on Monday, March 5, 2007 at the City of Beacon Municipal Center, One Municipal Plaza, Beacon, New York at 7:30 p.m. or as soon thereafter as the matter is reached on the agenda, to consider a proposed local law to Amend Chapter 17, Conservation Advisory Commission, Section 17-3 to Expand Number of Members from Seven to Nine.

 

This local law would take effect immediately upon filing with the Secretary of State.  Complete copies of the proposed local law are available at the Municipal Center for inspection during regular business hours.

 

All interested persons and citizens shall have an opportunity to be heard on said proposals at the date, time and place aforesaid.

 

Public Hearing Comments:  None

 

Motion to close Public Hearing:  Council Member Kelly.  Seconded:  Council Member Foster.  All voted in favor.  Motion carried.

 

Community Segment:  William O’Keeffe – Waste Water Treatment

Mr. O'Keeffe worked for the Waste Water Treatment for 35 years.  The plant opened in 1962.  The facility is open 24 hours a day, 7 days a week 365 days a year.  Mr. O'Keeffe answered many technical questions asked by the Council Members.  Thanks to Mr. O'Keeffe for his interesting report.

 

Mayor Clara Lou Gould asked for a motion to approve the minutes Council Meeting on the following date:

                                                February 5, 2007

 

Motion to approve minutes:  Council Member Gold.  Seconded:  Council Member Shea.  All voted in favor.  Motion carried.

 

Reports:  Text from the following reports for March 5, 2007 is at the end of these minutes.

 

Mayor's Communications read by Mayor Clara Lou Gould

City Administrator, Joseph Braun read his Report of Activities

City Attorney, Gerard Pisanelli read his Report of Activities – 1st Meeting of the Month

Mayor Clara Lou Gould read her Report of Activities

Mayor Clara Lou Gould's Annual Report for 2006

Norman MacLeod, Attractive, Clean & Safe Committee Minutes

Council Members read their Reports of Activities

 

First Opportunity for Public Comments:  Pertaining to This Agenda Only

 

Motion to suspend the rules on comments "Pertaining to this Agenda Only" - Because of the small number of residents present, any public comments will be allowed at this time:  Council Member Gold.  Seconded:  Council Member Kyriacou.  All voted in favor.  Motion carried.

 

Barbara McCaskill:  I did not like the assessment done on my house so I went and had one done myself.  The traffic is terrible on my street and is out of control.  It is dangerous for the children.  I would like to say "thank you" to the Mayor for allowing us to hold our meetings here.  I think that the sewer system on the 2007 Projects for next year is too high.  Can Beacon approach Dutchess County to help us financially?

 

The following comments were read by Mayor Clara Lou Gould for Mr. Dennis Pavelock for the March 5, 2007 Council Meeting:

 

To Whom It May Concern:

 

I'm writing to this council to inform them that I attended a Recreation Meeting on February 28th , 2007.I was absolutely disgusted by what happened at that meeting.

 

1.  I requested public information and was questioned when I asked for it.

2.  There is no posting of meetings.

3.  No name placards of who they are.

4.  No previous minutes were given to the public.

5.  Their agenda does not grant time for public comments.

6.  Does not give a reason as to why they are going into executive session.

7.  Ignorance is no excuse for the law.

 

All of these items I've listed are a direct violation of the open meetings law.

 

I've been attending Recreation Meetings for some time now, and the items I've mentioned above in my opinion makes the Recreation Commission unprofessional.

 

Thank you for your time and for listening.  Signed by Dennis Pavelock, President of Concerned Citizens Coalition of Beacon.

 

Kathryn Deuteimann, 2 South Brett St:  I want to reiterate what Dennis said in his note regarding the Recreation Committee Meetings.  We should take time to attend these meetings and take them seriously.  This committee does not follow any rules.  The agenda is not acceptable.  I sent Mr. Kyriacou a letter because I think it will take longer than five minutes if I were to read it here.  I would like it distributed to all the council members.

 

No further comments:

 

UNFINISHED BUSINESS

 

Resolutions:

 

Local Laws and Ordinances:

 

1.  Resolution No. 45 of 2007 - Local Law No. 3 of 2007 - to Amend the Current Section 2.06C, Prohibitions, of the City of Beacon Charter.  Second Reading:  Read by City Administrator, Joseph Braun.

 

BE IT ENACTED by the City Council of the City of Beacon, in the County of Dutchess, as follows:

TITLE – Section 2.06C, Prohibitions shall be amended to read as follows:

SECTION 1 – Section 2.06C- Prohibitions

Interference with administration. Except for the purpose of inquiries and investigations under Section 2.12, neither the Council nor any of its members shall direct or otherwise manage any city officer or employee, other than through the City Administrator or Mayor.

SECTION 2 – Effective Date

This local law shall take effect immediately upon filing in the office of the New York State Secretary of State in accordance with section 27 of the Municipal Home Rule Law.

 

Motion to adopt local law:  Council Member Kyriacou.  Seconded:  Council Member Kelly.

 

Council Member Kyriacou:  For the record, this is just a clarification and not a change in this local law.

 

On a roll call, all voted in favor.  Motion carried.

 

2.  Resolution No. 46 of 2007 - Local Law No. 4 of 2007 - to Amend the Current Section 2.12, Inquiries and Investigations, of the City of Beacon Charter.  Second Reading:  Read by City Administrator, Joseph Braun.

 

A LOCAL LAW AMENDING THE CURRENT SECTION 2.12, INQUIRIES AND INVESTIGATIONS, OF THE CITY OF BEACON CHARTER

 

BE IT ENACTED by the City Council of the City of Beacon, in the County of Dutchess, as follows:

TITLE – Section 2.12, Inquiries and Investigations, shall be amended to read as follows:

SECTION 1 – Section 2.12- Inquiries and Investigations

The Council shall have access to all information concerning any aspect of the affairs of the city, and may request such information in writing. The Council shall also have the power to make formal investigations into any aspect of the affairs of the city, and for such purpose may subpoena witnesses, administer oaths, take testimony and require the production of evidence. Any person who fails to obey any subpoena or lawful directive of the Council pursuant to this section shall be punished as provided by law for contempt.

SECTION 2 – Effective Date

This local law shall take effect immediately upon filing in the office of the New York State Secretary of State in accordance with section 27 of the Municipal Home Rule Law.

 

Motion to adopt local law with a minor change in the resolution deleting "at a council meeting or":  as requested by Mayor Clara Lou Gould:  Council Member Kyriacou.  Seconded:  Council Member Kelly.

All voted in favor.  Motion carried.

 

 

 

 

3.  Resolution No. 47 of 2007 Local Law No. 5 of 2007 - to Amend Chapter 17, Section 17-3, Entitled Conservation Advisory Commission §17-3, to Increase the Number of Members from Seven to Nine.  Second Reading:  Read by City Administrator, Joseph Braun.

 

BE IT ENACTED by the City Council of the City of Beacon as follows:

SECTION 1.          TITLE

This local law shall be entitled, AA Local Law Amending Chapter 17 entitled, ‘CONSERVATION ADVISORY COMMISSION’ §17-3 of the Beacon City Code to expand the number of members from 7 to 9.”

SECTION 2.          AMENDMENT

§17-3 shall be amended to read as follows:

§17-3.  Membership.

The Commission shall consist of nine members who shall be appointed by the Mayor, with the advice and consent of the City Council.  All appointees shall serve two-year terms.  Successors of all nine initial appointees shall serve two –year terms. Persons residing within the City of Beacon who are interested in the improvement and preservation of the environmental quality shall be eligible for appointment as members of the Commission.  The Mayor may appoint not more than two persons between the ages of 16 and 21 years to the Commission.  Vacancies on the Commission shall be filled in the same manner as the original appointment, except that a vacancy occurring other than by the expiration of a member’s term of office shall be filled only for the remainder of the unexpired term. 

SECTION 3.                          EFFECTIVE DATE

This local law shall take effect immediately upon its filing with the Secretary of State.

 

Motion to adopt local law: Council Member Foster.  Seconded:  Council Member Kelly.  All voted in favor.  Motion carried.

 

NEW BUSINESS

 

Resolutions:

 

1.  Resolution No. 48 of 2007 - Bond Ordinance Authorizing the Issuance Of Up To $650,000 Aggregate Principal Amount Serial Bonds of the City Of Beacon, Dutchess County, New York, To the Local Finance Law, To Finance the Costs of the Construction and Reconstruction of Improvements to City Sidewalks and Curbs.  For Adoption by affirmative vote of at Least two-thirds of the entire voting strength of the Council of the City.

 

BOND ORDINANCE, DATED MARCH 5, 2007, AUTHORIZING THE ISSUANCE OF UP TO $650,000 AGGREGATE PRINCIPAL AMOUNT SERIAL BONDS OF THE CITY OF BEACON, COUNTY OF DUTCHESS, STATE OF NEW YORK, PURSUANT TO THE LOCAL FINANCE LAW, TO FINANCE THE COSTS OF THE CONSTRUCTION AND RECONSTRUCTION OF IMPROVEMENTS TO CITY SIDEWALKS AND CURBS.

 

 

WHEREAS, the City Council of the City of Beacon (the “City”), a municipal corporation of the State of New York, located in the County of Dutchess, hereby determines that it is in the public interest of the City to authorize the financing of the costs of the construction and reconstruction of improvements to City sidewalks and curbs, including the acquisition of any applicable equipment, machinery, apparatus, land and rights-in-land necessary therefor and any preliminary and incidental costs related thereto, at a total estimated cost not to exceed $650,000, all in accordance with the Local Finance Law;

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Beacon, in the County of Dutchess, State of New York, as follows:

Section 1.  There is hereby authorized to be issued serial bonds of the City, and/or bond anticipation notes issued in anticipation of the issuance of such serial bonds, in the aggregate principal amount not to exceed $650,000, in order to finance the costs of the construction and reconstruction of improvements to City sidewalks and curbs, including the acquisition of any applicable equipment, machinery, apparatus, land and rights-in-land necessary therefor and any preliminary and incidental costs related thereto (the “Project”), pursuant to the Local Finance Law.

Section 2.  The City Council of the City has ascertained and hereby states that (a) the estimated maximum cost of the Project will not exceed $650,000; (b) no money has heretofore been authorized to be applied to the payment of the costs of the Project; (c) the City Council of the City plans to finance the costs of the Project from the proceeds of the serial bonds as authorized herein, and/or of bond anticipation notes issued in anticipation of the issuance of such serial bonds, except to the extent of Federal or State aid received by the City, which shall reduce the principal amount of such serial bonds or bond anticipation notes pro tanto; (d) the maximum maturity of the serial bonds authorized herein shall be in excess of five (5) years; and (e) on or before the expenditure of moneys to pay for any costs made in connection with the Project for which proceeds of such obligations are to be applied to reimburse the City, the City Council of the City took “official action” for federal income tax purposes to authorize the capital financing of such expenditure.

Section 3. It is hereby determined that the Project is of a class of object or purpose as described in subdivision 24 of paragraph a of Section 11.00 of the Local Finance Law and that the period of probable usefulness of the Project is ten (10) years.  The serial bonds authorized herein shall have a maximum maturity of the ten (10) years computed from the earlier of (a) the date of the first issue of such serial bonds, or (b) the date of the first issue of bond anticipation notes issued in anticipation of the issuance of such serial bonds.

 

Note:  The following is identical in Resolution's 48 through 51.  Therefore, it will not be repeated in these minutes.

 

Section 4.  Subject to the terms and conditions of this bond ordinance and the Local Finance Law, including the provisions of Sections 21.00, 30.00, 50.00 and 56.00 to 60.00, inclusive, the power to authorize serial bonds as authorized herein, and bond anticipation notes issued in anticipation of the issuance of such serial bonds, including renewals thereof, the power to prescribe the terms, form and contents of such serial bonds and such bond anticipation notes, and the power to sell, issue and deliver such serial bonds and such bond anticipation notes, are hereby delegated to the City Administrator, as the chief fiscal officer of the City.  The City Administrator is hereby authorized to execute, on behalf of the City, all serial bonds issued pursuant to this bond ordinance, and all bond anticipation notes issued in anticipation of the issuance of such serial bonds, and the City Clerk is hereby authorized to impress the seal of the City (or to have imprinted a facsimile thereof) to or on all such serial bonds and all such bond anticipation notes and to attest such seal.  Each interest coupon, if any, representing interest payable on such serial bonds shall be authenticated by the manual or facsimile signature of the City Administrator.

Section 5.  The faith and credit of the City is hereby and shall be irrevocably pledged for the punctual payment of the principal of and interest on all obligations authorized and issued pursuant to this bond ordinance as the same shall become due.

Section 6.  When this bond ordinance takes effect, the City Clerk shall cause the same, or a summary thereof, to be published together with a notice in substantially the form prescribed by Section 81.00 of the Local Finance Law in the Poughkeepsie Journal newspaper having a general circulation in the City.  The validity of the serial bonds authorized herein, and of bond anticipation notes issued in anticipation of the issuance of such serial bonds, may be contested only if such obligations are authorized for an object or purpose, or class of object or purpose, for which the City is not authorized to expend money, or the provisions of law, which should have been complied with as of the date of publication of this bond ordinance, were not substantially complied with, and an action, suit or proceeding contesting such validity is commenced within twenty (20) days after the date of such publication, or if such obligations were authorized in violation of the provisions of the Constitution of the State of New York.

Section 7.  Prior to the issuance of any obligations authorized herein, the City Council of the City shall comply with all applicable provisions prescribed in Article 8 of the Environmental Conservation Law, all regulations promulgated thereunder by the New York State Department of Environmental Conservation, and all applicable Federal laws and regulations in connection with environmental quality review relating to the Project (collectively, the “environmental compliance proceedings”).  In the event that any of the environmental compliance proceedings are not completed, or require amendment or modification subsequent to the date of adoption of this bond ordinance, the City Council of the City will re-adopt, amend or modify this bond ordinance prior to the issuance of any obligations authorized herein upon the advice of bond counsel.  It is hereby determined by the City Council of the City that the Project will not have a significant effect on the environment.

Section 8.  The City hereby declares its intention to issue the serial bonds authorized herein, and/or bond anticipation notes issued in anticipation of the issuance of such serial bonds (collectively, the “obligations”), to finance the costs of the Project.  The City covenants for the benefit of the holders of such obligations that it will not make any use of the proceeds of such obligations, any funds reasonably expected to be used to pay the principal of or interest on such obligations or any other funds of the City, and will not make any use of the Project, which would cause the interest on such obligations to become subject to Federal income taxation under the Internal Revenue Code of 1986, as amended (the “Code”) (except for the federal alternative minimum tax imposed on corporations by section 55 of the Code), or subject the City to any penalties under section 148 of the Code, and that it will not take any action or omit to take any action with respect to such obligations, the proceeds thereof or the Project financed thereby, if such action or omission would cause the interest on such obligations to become subject to Federal income taxation under the Code (except for the federal alternative minimum tax imposed on corporations by section 55 of the Code), or subject the City to any penalties under section 148 of the Code.  The foregoing covenants shall remain in full force and effect notwithstanding the defeasance of any serial bonds authorized and issued under this bond ordinance or any other provisions hereof until the date which is sixty (60) days after the final maturity date or earlier prior redemption date thereof.  The proceeds of any obligations authorized herein may be applied to reimburse the expenditures or commitments of the City made in connection with the Project on or after a date which is not more than sixty (60) days prior to the date of adoption of this bond ordinance.

Section 9.                For the benefit of the holders and beneficial owners from time to time of the serial bonds authorized herein, and of the bond anticipation notes issued in anticipation of the issuance of such serial bonds, the City agrees, in accordance with and as an obligated person with respect to such obligations under, Rule 15c2-12, as amended (the “Rule”), promulgated by the Securities Exchange Commission pursuant to the Securities Exchange Act of 1934, to provide or cause to be provided such financial information and operating data, financial statements and notices, in such manner as may be required for purposes of the Rule.  In order to describe and specify certain terms of the City’s continuing disclosure agreement for that purpose, and thereby to implement that agreement, including provisions for enforcement, amendment and termination, the City Administrator is authorized and directed to sign and deliver, in the name and on behalf of the City, the commitment authorized by subsection 6(c) of the Rule (the “Commitment”) to be placed on file with the City Clerk, which shall constitute the continuing disclosure agreement made by the City for the benefit of holders and beneficial owners of the obligations authorized herein in accordance with the Rule, with any changes or amendments that are not inconsistent with this bond ordinance and not substantially adverse to the City and that are approved by the City Administrator on behalf of the City, all of which shall be conclusively evidenced by the signing of the Commitment or amendments thereto.  The agreement formed collectively by this paragraph and the Commitment shall be the City’s continuing disclosure agreement for purposes of the Rule, and its performance shall be subject to the availability of funds and their annual appropriation to meet costs the City would be required to incur to perform thereunder.  The City Administrator is further authorized and directed to establish procedures in order to ensure compliance by the City with its continuing disclosure agreement, including the timely provision of information and notices.  Prior to making any filing in accordance with the agreement or providing notice of the occurrence of any material event, the City Administrator shall consult with, as appropriate, the City Attorney and bond counsel or other qualified independent special counsel to the City and shall be entitled to rely upon any legal advice provided by the City Attorney or such bond counsel or other qualified independent special counsel in determining whether a filing should be made.

Section 10.  This bond ordinance is subject to a permissive referendum and will take effect upon its adoption by the City Council of the City and the expiration of the period prescribed in Article 8 of the City Charter during which petitions for a permissive referendum may be submitted and filed with the City Clerk.

 

Motion to read heading only on the following 4 Bond Resolutions:  Council Member Kelly.  Seconded:  Council Member Gold.  All voted in favor.  Motion carried.

 

Motion to Approve Bond Ordinance Authorizing the Issuance Of Up to $ 650,000 to Finance Improvements to City Sidewalks & Curbs:  Council Member Kelly.  Seconded:  Council Member Gold.  On a roll call, all voted in favor.  Motion carried.

 

2.  Resolution No. 49 of 2007 - Bond Ordinance Authorizing the Issuance Of Up To $685,000 Aggregate Principal Amount Serial Bonds of the City Of Beacon, Dutchess County, New York, To the Local Finance Law, To Finance the Costs of the Acquisition, Construction and Reconstruction of Improvements to the Water System in and for the City.  For Adoption by affirmative vote of at Least two-thirds of the entire voting strength of the Council of the City.

 

BOND ORDINANCE, DATED MARCH 5, 2007, AUTHORIZING THE ISSUANCE OF UP TO $685,000 AGGREGATE PRINCIPAL AMOUNT SERIAL BONDS OF THE CITY OF BEACON, COUNTY OF DUTCHESS, STATE OF NEW YORK, PURSUANT TO THE LOCAL FINANCE LAW, TO FINANCE THE COSTS OF THE ACQUISITION, CONSTRUCTION AND RECONSTRUCTION OF IMPROVEMENTS TO THE WATER SYSTEM IN AND FOR THE CITY.

 

WHEREAS, the City Council of the City of Beacon (the “City”), a municipal corporation of the State of New York, located in the County of Dutchess, hereby determines that it is in the public interest of the City to authorize the financing of the costs of the acquisition, construction and reconstruction of improvements to the water system in and for the City, including the acquisition of any applicable equipment, machinery, apparatus, land and rights-in-land necessary therefor and any preliminary and incidental costs related thereto, at a total estimated cost not to exceed $685,000, all in accordance with the Local Finance Law;

 

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Beacon, in the County of Dutchess, State of New York, as follows:

Section 1. There is hereby authorized to be issued serial bonds of the City, and/or bond anticipation notes issued in anticipation of the issuance of such serial bonds, in the aggregate principal amount not to exceed $685,000, in order to finance the costs of the acquisition, construction and reconstruction of improvements to water systems in and for the City, including the acquisition of any applicable equipment, machinery, apparatus, land and rights-in-land necessary therefor and any preliminary and incidental costs related thereto (the “Project”), pursuant to the Local Finance Law.

Section 2.  The City Council of the City has ascertained and hereby states that (a) the estimated maximum cost of the Project will not exceed $685,000; (b) no money has heretofore been authorized to be applied to the payment of the costs of the Project; (c) the City Council of the City plans to finance the costs of the Project from the proceeds of the serial bonds as authorized herein, and/or of bond anticipation notes issued in anticipation of the issuance of such serial bonds, except to the extent of Federal or State aid received by the City, which shall reduce the principal amount of such serial bonds or bond anticipation notes pro tanto; (d) the maximum maturity of the serial bonds authorized herein shall be in excess of five (5) years; and (e) on or before the expenditure of moneys to pay for any costs made in connection with the Project for which proceeds of such obligations are to be applied to reimburse the City, the City Council of the City took “official action” for federal income tax purposes to authorize the capital financing of such expenditure.

Section 3.                It is hereby determined that the Project is of a class of object or purpose as described in subdivision 1 of paragraph a of Section 11.00 of the Local Finance Law and that the period of probable usefulness of the Project is forty (40) years.  The serial bonds authorized herein shall have a maximum maturity of the forty (40) years computed from the earlier of (a) the date of the first issue of such serial bonds, or (b) the date of the first issue of bond anticipation notes issued in anticipation of the issuance of such serial bonds.

 

 

Note:  Please refer to Resolution No. 49 above for a description of this Bond Ordinance.

 

Motion to approve Bond Ordinance - Authorizing the Issuance:  Council Member Gold.  Seconded:  Council Member Foster.  On a roll call vote, all voted in favor.  Motion carried.

 

 

 

3.  Resolution No. 50 of 2007 - Bond Ordinance Authorizing the Issuance Of Up To $4,771,000 Aggregate Principal Amount Serial Bonds of the City Of Beacon, Dutchess County, New York, To the Local Finance Law, To Finance the Costs of the Construction and Reconstruction of Improvements to City Streets.  For Adoption by affirmative vote of at Least two-thirds of the entire voting strength of the Council of the City.

 

BOND ORDINANCE, DATED MARCH 5, 2007, AUTHORIZING THE ISSUANCE OF UP TO $4,771,000 AGGREGATE PRINCIPAL AMOUNT SERIAL BONDS OF THE CITY OF BEACON, COUNTY OF DUTCHESS, STATE OF NEW YORK, PURSUANT TO THE LOCAL FINANCE LAW, TO FINANCE THE COSTS OF THE CONSTRUCTION AND RECONSTRUCTION OF IMPROVEMENTS TO CITY STREETS.

 

WHEREAS, the City Council of the City of Beacon (the “City”), a municipal corporation of the State of New York, located in the County of Dutchess, hereby determines that it is in the public interest of the City to authorize the financing of the costs of the construction and reconstruction of improvements to City streets, including the acquisition of any applicable equipment, machinery, apparatus, land and rights-in-land necessary therefore and any preliminary and incidental costs related thereto, at a total estimated cost not to exceed $4,771,000, all in accordance with the Local Finance Law;

 

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Beacon, in the County of Dutchess, State of New York, as follows:

Section 1. There is hereby authorized to be issued serial bonds of the City, and/or bond anticipation notes issued in anticipation of the issuance of such serial bonds, in the aggregate principal amount not to exceed $4,771,000,