Board of Trustee Minutes 10/29/2020

A special meeting of the Board of Trustees of the Village of Delhi was held on Thursday, October 29, 2020 at 12:00 p.m. at the Village Hall.

Present: Mayor: Richard Maxey
Trustees: Christopher Maney, Jeremy Fitch and Barbara Jones

The meeting started at 12:00 PM for the purpose of approving the below supplemental resolution.

SECOND SUPPLEMENTAL RESOLUTION DATED OCTOBER 29, 2020.

A RESOLUTION SUPPLEMENTING A BOND RESOLUTION OF THE
VILLAGE OF DELHI, DELAWARE COUNTY, DATED AND DULY ADOPTED ON AUGUST 31, 2015, AND A SUPPLEMENTAL RESOLUTION DATED AND DULY ADOPTED ON SEPTEMBER 20, 2020.

The following resolution was offered by Mayor Richard Maxey, who moved its adoption, seconded by Trustee Fitch, to wit:

WHEREAS, all conditions precedent to the financing of the capital project hereinafter described, including compliance with the provisions of the State Environmental Quality Review Act, has been performed; and

WHEREAS, on August 31, 2015, the Board of Trustees of the Village of Delhi, Delaware County, New York (the "Village") duly adopted a bond resolution to finance the cost of creating a secondary source of water from a new well, constructing a new treatment facility, a new well pump and approximately 3,500 lineal feet of new water main pipe along Route 28, in and for said Village (the "Project"), a specific object or purpose, at a maximum estimated cost of $2,279,588.00, with up to $2,279,588.00 bonds authorized to be issued therefor (the -Bond Resolution"); and

WHEREAS, on September 20, 2020, the Board of Trustees of the Village of Delhi, Delaware County, New York (the "Village") duly adopted a resolution supplementing the Bond Resolution due to the fact that the maximum estimated cost of the Project was increased to $2,419,538.00 subsequent to adoption of the Bond Resolution; and

WHEREAS, various fees relating to the permanent financing of the Project with New York State Environmental Facilities Corporation and other related costs of issuance will further increase the maximum estimated cost of the Project to $2,424,130.00, an increase of $144,542.00 for the Project; and

WHEREAS, it is desirable to further set forth the overall sources of funding for said Project,

NOW, THEREFORE

BE IT RESOLVED by the affirmative vote of not less than a majority of the total voting strength of the Board of Trustees of the Village of Delhi, Delaware County, New York as follows:

Section 1. It is hereby determined that the maximum estimated cost of the Project, as described in the preambles hereof, is now determined to be $2,424,145.00.

Section 2. The plan of financing of said maximum estimated cost is hereby determined to be as follows:

(a) By the issuance of up to $2,279,588.00 serial bonds of the Village authorized to be issued pursuant to the provisions of the Local Finance Law by the Bond Resolution dated and duly adopted August 31, 2015, which Bond Resolution is in full force and effect and has not been replaced, revoked or rescinded as of the date hereof; and

(b) By the expenditure of up to $150,000.00 other monies hereby allocated to costs of said Project not included in the $2,279,588.00 serial bonds heretofore authorized by the Bond Resolution, and hereby appropriated therefor.

Section 3. This resolution shall take effect immediately.

Motion was made by Trustee Fitch to adjourn. Motion was seconded by Trustee Maney and passed unanimously.

Meeting adjourned at 12:02 p.m.

Respectfully submitted,

Kimberly Cairns
Village Clerk

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