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ESTOPPEL NOTICE AND SUMMARY OF BOND RESOLUTIONAUTHORIZING THE ISSUANCE OF UP TO $587,218.91IN SERIAL BONDS AND/OR BOND ANTICIPATION NOTESOF THE TOWN OF WARRENSBURG TO PAY THE COST OF THE LED STREETLIGHTS CONVERSION PROJECT
The Bond Resolution which is summarized below was adopted by the Warrensburg Town Board on June 8, 2022. The validity of the obligations authorized by the Bond Resolution may be contested only if (i) the obligations were authorized for an object or purpose for which the Town is not authorized to expend money, or (ii) the provisions of law which should have been complied with as of the date of publication of this notice were not substantially complied with, and an action, suit or proceeding contesting the validity of the obligations is commenced within twenty (20) days after the date of publication of this notice or (iii) the obligations were authorized in violation of the provisions of the State Constitution.
The specific object or purpose for which the obligations authorized by the Bond Resolution are to be issued is the conversion of the Town’s existing street lights to LED street lights and further including related preliminary and incidental costs (the "Project"). The maximum estimated cost of the Project is $587,218.91. The period of probable usefulness of the specific object or purpose is thirty (30) years, pursuant to Section 11.00[a](5) of the New York Local Finance Law. The plan for financing the maximum estimated cost is issuance of up to $587,218.91 in serial bonds and/or bond anticipation notes of the Town. The Bond Resolution authorized the issuance of serial bonds and/or bond anticipation notes, including renewals of the bond anticipation notes, of the Town up to a maximum amount of $587,218.91, the maximum maturity of which will exceed five (5) years. A tax sufficient to pay the principal of and interest on the obligations as they become due and payable will be levied on all the taxable real property of the Town annually. A full copy of the Bond Resolution will be available for public inspection during normal business hours for twenty (20) days following publication of this Summary at the offices of the Town Clerk, Warrensburg Town Hall, 3797 Main Street, Warrensburg, New York.
Warrensburg Town Clerk
PUB: JUNE 11, 2022