The resolution, a summary of which is published herewith, has been adopted on October 10, 2017, and the validity of the obligations authorized by such resolution may be hereafter contested only if such obligations were authorized for an object or purpose for which the Town of Southold, in the County of Suffolk, New York is not authorized to expend money or if 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 such validity is commenced within twenty days after the publication of this notice, or such obligations were authorized in violation of the provisions of the constitution.
BY ORDER OF THE TOWN BOARD
OF THE TOWN OF SOUTHOLD
Dated: October 10, 2017
Southold, New York
Elizabeth A. Neville
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED OCTOBER 10, 2017, APPROPRIATING $300,000 FOR THE INCREASE AND IMPROVEMENT OF FACILITIES OF THE FISHERS ISLAND FERRY DISTRICT, AND AUTHORIZING THE ISSUANCE OF BONDS IN THE PRINCIPAL AMOUNT OF $300,000 TO FINANCE SAID APPROPRIATION
The object or purpose for which the bonds are authorized is the increase and improvement of facilities of the Fishers Island Ferry District, consisting of the replacement of port and starboard main propulsion systems for the ferry MV Munnatawket, at the estimated maximum cost of $300,000.
The maximum amount of obligations authorized to be issued is $300,000.
The period of probable usefulness is thirty-five (35) years.
A complete copy of the Bond Resolution summarized above shall be available for public inspection during normal business hours at the office of the Town Clerk, Town Hall, 53095 Main Road, Southold, New York.