The resolution, a summary of which is published herewith, has been adopted on May 9, 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.
ELIZABETH A. NEVILLE
BOND RESOLUTION OF THE TOWN OF SOUTHOLD, NEW YORK, ADOPTED MAY 9, 2017, AUTHORIZING THE CONSTRUCTION OF A SALT BARN ON FISHERS ISLAND, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $200,000, APPROPRIATING SAID AMOUNT FOR SUCH PURPOSE, AND AUTHORIZING THE ISSUANCE OF BONDS IN THE PRINCIPAL AMOUNT OF $200,000 TO FINANCE SAID APPROPRIATION
The object or purpose for which the bonds are authorized is to construct a salt barn on Fishers Island, at the estimated total cost of $200,000.
The maximum amount of obligations authorized to be issued is $200,000.
The period of probable usefulness applicable to the object or purpose for which said bonds are authorized is in excess of five years; however, the bonds authorized pursuant to this resolution and any bond anticipation notes issued in anticipation of the sale of said bonds, shall mature no later than five (5) years after the date of original issuance of said bonds or notes.
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, at the Town Hall, 53095 Main Street, Southold, New York.
Dated: May 9, 2017
Southold, New York
BY ORDER OF THE TOWN BOARD OF THE TOWN OF SOUTHOLD,
COUNTY OF SUFFOLK, STATE OF NEW YORK
Elizabeth A. Neville, Town Clerk
Town of Southold
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