Town of Glenville
18 Glenridge Road, Glenville, NY 12302
ph: 518-688-1200
fx: 518-384-0140
Town Board Minutes 7/31/06
SPECIAL MEETING OF THE TOWN BOARD
TOWN OF GLENVILLE
JULY 31, 2006
AT THE GLENVILLE MUNICIPAL CENTER
18 GLENRIDGE ROAD, GLENVILLE, NEW YORK


Present:        Supervisor Frank X. Quinn, Councilmen, Mark A. Quinn, Robert E. Bailey, Edward F. Rosenberg and Councilwoman Valerie M. DiGiandomenico

Absent: None

                The following resolutions were acted upon.


RESOLUTION NO. 167-2006

Moved by:       Councilman Bailey
Seconded by:    Councilwoman DiGiandomenico

BOND RESOLUTION, DATED JULY 31, 2006, AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $1,250,000AGGREGATE PRINCIPAL AMOUNT SERIAL BONDS OF THE TOWN OF GLENVILLE, SCHENECTADY COUNTY, NEW YORK, TO FINANCE THE COST OF CONSTRUCTING AN EXTENSION TO WATER DISTRICT NO. 11

Recitals

WHEREAS, Water District 11 (hereinafter referred to as a “water district”) of the Town of Glenville, in the County of Schenectady, duly established by the Town Board of said Town and, as such, proposes to construct, maintain, extend and operate a water system for said District in accordance with Article 12 of the Town Law of New York, and the purpose hereinafter described is a special improvement authorized by Article 12;

WHEREAS, the Town Board of the Town of Glenville (the “Town”) desires to provide for the financing of the cost of and the cost incidental thereto at an estimated cost of $1,250,000 and has and hereby determines that such payments are in the public interest of the Town;

WHEREAS, such Town Board has determined that any obligations authorized or issued pursuant to the financing described in this resolution shall mature in not more than forty (40) years as prescribed in the Local Finance Law to permit this resolution to become effective upon its adoption;

NOW, THEREFORE, BE IT RESOLVED by the Town Board of the Town of Glenville (by the favorable vote of not less than two-thirds of all the members of said Town Board), as follows:

SECTION 1.  There are hereby authorized to be issued serial bonds of the Town of Glenville in the aggregate principal amount not to exceed the amount of $1,250,000 pursuant to the Local Finance Law, in order to finance the specific objects or purposes hereinafter described.

SECTION 2.  The specific object or purpose (hereinafter referred to as “purpose”) to be financed by the issuance of such serial bonds is the extension of Water District No. 11 of said Town, to be known as Extension No. 33, consisting of the laying of water mains, the installation of distribution pipes, and hydrants, necessary for the operation of such system and including the acquisition of necessary rights-of-way and easement in accordance with and at the locations stated in the map and plan referred to in the order establishing said Extension No. 33 adopted by the Town Board (the “Project”).  The plan for the financing provides for the total cost thereof to be financed from the proceeds of the bonds herein authorized to be issued since no payment from current funds is required by Section 107.00 of the Local Finance Law.

SECTION 3.  It is hereby determined that the class of objects or purposes for which such serial bonds herein authorized to be issued is set forth in subdivision 1. of paragraph a. of Section 11.00 of the Local Finance Law, namely, the construction of an extension to a water system and having a period of probable usefulness of forty (40) years.

SECTION 4.  No current funds are required to be provided prior to the issuance of the bonds herein authorized to be issued or prior to the issuance of any bond anticipation notes pursuant to Section 107 of the Local Finance Law since the cost of said improvement is to be paid by assessment upon benefited real property in the area less than the area of the municipality and the maturity of the obligations authorized by this resolution shall be in excess of five (5) years.

SECTION 5.  Subject to the terms and conditions of this bond resolution and the Local Finance Law, and pursuant to the provisions of Sections 30.00, 50.00, 56.00 to 60.00, inclusive, of the Local Finance Law, the power to authorize bond anticipation notes in anticipation of the issuance of the serial bonds authorized by this bond resolution and the renewal of such bond anticipation notes and the power to prescribe the terms, form and content of such serial bonds and such bond anticipation notes authorized by this bond resolution, and the power to issue, sell and deliver such serial bonds and bond anticipation notes, including renewal notes, and to make any necessary “arbitrage” covenants in the name of the Town, is hereby delegated to the Supervisor of the Town as the chief fiscal officer of the Town.  The Supervisor of the Town is hereby authorized to execute by manual or facsimile signature on behalf of the Town all serial bonds issued pursuant to this bond resolution and all bond anticipation notes, including renewal notes, issued in anticipation of the issuance of such serial bonds, and the Town Clerk is hereby authorized to affix the seal of the Town (or to have imprinted a facsimile thereof) to all such serial bonds and all such bond anticipation notes, including renewal notes, and to attest such seal.  Such serial bonds, if, as and when issued shall be authenticated by the countersignature of a fiscal agent of the Town or by the appropriate designated officer of the Town pursuant to Section 70.00 of the Local Finance Law.

SECTION 6.  The faith and credit of the Town are 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 resolution as the same shall become due.  An annual appropriation shall be made in amounts sufficient to pay installments of principal together with interest on the obligations herein authorized as the same become due and payable, and an amount sufficient therefore shall be levied, assessed and collected from the parcels of land within said district at the same time and in the same manner as other Town charges.

SECTION 7.  When this bond resolution takes effect, the Clerk of the Town shall cause the same to be published together with a notice in substantially the form prescribed by Section 81.00 of the Local Finance Law at least once in “The Daily Gazette”, the official newspaper of the Town, a newspaper having a general circulation in the Town.

SECTION 8.  The validity of said serial bonds or of any bond anticipation notes issued in anticipation of the sale of said serial bonds may be contested only if:
1.)  Such obligations are authorized for an object or purpose for which the Town is not authorized to expend money, or
2.)  the provisions of law which should be complied with at the date of the publication of such resolution are 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
3.)  such obligations are authorized in violation of the provisions of the Constitution of the State of New York.

SECTION 9.  The Town intends to issue the obligations authorized by this bond resolution to finance the cost of the purpose identified in Section 2 hereof.  The Town covenants for the benefit of the registered owners of the obligations authorized herein 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 Town, or will not make any use of the facilities financed with the proceeds of the obligations which would cause interest on the obligations to become subject to Federal income taxation under the Internal Revenue Code of 1986, as amended, (the “Code”) (except for the alternative minimum tax imposed on individuals and corporations by Section 148 of the Tax Code, except for the environment tax imposed on corporations by Section 59A of the Tax Code and except for any obligations held by substantial users, or related persons, of the projects financed by the obligations) or subject the Town to any penalties under Section 148 of the Tax Code, and that it will not take any action or omit to take any action with respect to the obligations, the proceeds thereof or any facilities financed thereby if such action or omission would cause the interest on the obligations to become subject to Federal income taxation under the Tax Code (except for the alternative minimum tax imposed on individuals and corporations by Section 55 of the Tax Code and except for the environmental tax imposed on corporations by Section 59A of the Code) or subject the Town to any penalties under Section 148 of the Code.  The foregoing covenants shall remain in full force and effect notwithstanding the defeasance of the bonds or any other provision hereof until the date which is 60 days after the final maturity date or earlier prior redemption date thereof.  The  proceeds of any obligations authorized to be issued herein may be applied to reimburse expenditures or commitments made for such purpose on or after a date which is not more than one year prior to the date of adoption of this bond resolution.  The Town expects to expend general funds or other available moneys for the purposes which should be reimbursed from the proceeds of such obligations.

SECTION 10.  Based upon the review by the Town, the Town Board has determined that the Project is a Type II action under the New York State Environmental Quality Review Act and further determined that this action will not have a significant impact on the environment. And a negative declaration has been determined thereunder.

SECTION 11.  This bond resolution shall take effect immediately upon its adoption by the required votes by the Town Board of the Town.

Ayes:   Councilmen Rosenberg, Quinn, Bailey, Councilwoman DiGiandomenico and Supervisor Quinn
Noes:           None
Absent: None
Abstentions:            None

Motion Carried

RESOLUTION NO. 168-2006

Moved by:       Councilman Bailey
Seconded by:    Councilwoman DiGiandomenico

        WHEREAS, Municipal Water Well #1 pump is 40 years old and due to recent failure was pulled and inspected; and

        WHEREAS, the results of the inspection indicated that the complete pump assembly, including column pipe and shafting warranted replacement; and

        WHEREAS, several of the remaining pumps are experiencing operational problems leaving only one fully operational pump; and

WHEREAS, Richard D. LeClair, Commissioner has declared a water emergency because of this temporary lack of redundancy in pumping capacity; and

WHEREAS, it is essential to restore adequate pumping capacity promptly by not experiencing the delay of bidding the well pump and has ordered replacement of Well #1 pump;

        NOW, THEREFORE, BE IT RESOLVED due to the emergency nature the bidding requirements to comply with General Municipal law is waived in this instance and the Glenville Town Board hereby authorizes the purchase of one new pump in the sum not to exceed $30,000; and

        BE IT FURTHER RESOLVED that the funding source for such purchase shall be from the Water Treatment Facility Phase II capital project.

Ayes:   Councilmen Quinn, Bailey, Councilwoman DiGiandomenico and Supervisor Quinn
Noes:           Councilman Rosenberg
Absent: None
Abstention:             None

Motion Carried


                Motion to adjourn was moved by Supervisor Quinn and Seconded by Councilman Rosenberg.


                The Town of Glenville Town Board Meeting was adjourned at 6:11 PM.

                                                                ATTEST:



______________________________
Linda C. Neals
Town Clerk