FIRE DISTRICT TO HOLD SPECIAL ELECTION ON FEBRUARY 6th

NOTICE OF SPECIAL ELECTION
Vestal Fire District in the Town of Vestal,
Broome County, New York

NOTICE IS HEREBY GIVEN that, pursuant to Section 38.00 of the Local Finance Law and Section 179 of the Town Law, a special election of the qualified voters of Vestal Fire District in the Town of Vestal, Broome County, New York, will be held at the Town Hall, 605 Vestal Parkway West, in Vestal, New York, in said Fire District, on the 6th day of February, 2018, between the hours of 2:00 o’clock and 9:00 o’clock P.M., Prevailing Time, for the purpose of voting by paper ballot upon the adoption or rejection of the following resolution:

BOND RESOLUTION DATED DECEMBER 20, 2017.

A RESOLUTION AUTHORIZING THE PURCHASE OF A LADDER FIRE-FIGHTING TRUCK FOR THE VESTAL FIRE DISTRICT IN THE TOWN OF VESTAL, BROOME COUNTY, NEW YORK, AT A MAXIMUM ESTIMATED COST OF $970,000, AND AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $970,000 SERIAL BONDS OF SAID FIRE DISTRICT TO PAY THE COST THEREOF.

WHEREAS, the capital project hereinafter described has been determined to be a Type II Action pursuant to the regulations of the New York State Department of Environmental Conservation promulgated pursuant to the State Environmental Quality Review Act, the implementation of which as proposed, the regulations provide will not result in any significant adverse environmental effects; and

WHEREAS, it is now desired to authorize said capital project and its financing; NOW, THEREFORE,

BE IT RESOLVED, by the Board of Fire Commissioners of Vestal Fire District in the Town of Vestal, Broome County, New York, as follows:

Section 1.         The purchase of a ladder fire-fighting truck, for the Vestal Fire District in the Town of Vestal, Broome County, New York, including original apparatus and incidental expenses in connection therewith, is hereby authorized, at a maximum estimated cost of $970,000.

Section 2.         The plan for the financing of such maximum estimated cost is by the issuance of not exceeding $1,150,000 serial bonds of said Fire District hereby authorized to be issued therefor pursuant to the provisions of the Local Finance Law.  It is hereby further determined that the financing of such maximum estimated cost may be completed pursuant to the provisions of Section 109-b of the General Municipal Law and the determination and implementation with regard thereto is hereby delegated to the Fire District Treasurer.

Section 3.         It is hereby determined that the period of probable usefulness of the aforesaid specific object or purpose is twenty years, pursuant to subdivision 27 of paragraph a of Section 11.00 of the Local Finance Law.

Section 4.         The faith and credit of said Vestal Fire District in the Town of Vestal, Broome County, New York, are hereby irrevocably pledged for the payment of the principal of and interest on such bonds as the same respectively become due and payable.  An annual appropriation shall be made in each year sufficient to pay the principal of and interest on such bonds becoming due and payable in such year.  There shall annually be levied on all the taxable real property of said Fire District, a tax sufficient to pay the principal of and interest on such bonds as the same become due and payable.

Section 5.         Subject to the provisions of the Local Finance Law, the power to authorize the issuance of and to sell bond anticipation notes in anticipation of the issuance and sale of the serial bonds herein authorized, including renewals of such notes, is hereby delegated to the Fire District Treasurer, the chief fiscal officer.  Such notes shall be of such terms, form and contents, and shall be sold in such manner, as may be prescribed by said Fire District Treasurer, consistent with the provisions of the Local Finance Law.

Section 6.         All other matters except as provided herein relating to the serial bonds herein authorized including the date, denominations, maturities and interest payment dates, within the limitations prescribed herein and the manner of execution of the same, including the consolidation with other issues, and also the ability to issue serial bonds with substantially level or declining annual debt service, shall be determined by the Fire District Treasurer, the chief fiscal officer of such Fire District.  Such bonds shall contain substantially the recital of validity clause provided for in Section 52.00 of the Local Finance Law, and shall otherwise be in such form and contain such recitals, in addition to those required by Section 51.00 of the Local Finance Law, as the Fire District Treasurer shall determine consistent with the provisions of the Local Finance Law.

Section 7.         The validity of such bonds and bond anticipation notes may be contested only if:

1)         Such obligations are authorized for an object or purpose for which said Fire District is not authorized to expend money, or

2)         The provisions of law which should be complied with at the date of publication of this resolution are not substantially complied with,

and an action, suit or proceeding contesting such validity is commenced within ten days after the date of such publication, or

3)         Such obligations are authorized in violation of the provisions of the Constitution.

Section 8.         This resolution shall constitute a statement of official intent for purposes of Treasury Regulations Section 1.150�€‘2.  Other than as specified in this resolution, no monies are, or are reasonably expected to be, reserved, allocated on a long�€‘term basis, or otherwise set aside with respect to the permanent funding of the object or purpose described herein.

Section 9.         Upon this resolution taking effect, the same shall be published in summary form in the official newspaper of said Fire District for such purpose, together with a notice of the Fire District Clerk in substantially the form provided in Section 81.00 of the Local Finance Law.

Section 10.       This resolution is adopted subject to approval at a special election of said Fire District to be held on February 6, 2018, the details of which shall be determined by further resolution of this Board of Fire Commissioners.

The polls will be kept open for the purpose of voting during the aforesaid hours, and the proposition will be in substantially the following form, to-wit:

                                  *      *       *       *       *      *
                                         PROPOSITION
            Shall the bond resolution entitled: "BOND RESOLUTION DATED DECEMBER 20, 2017.

A RESOLUTION AUTHORIZING THE PURCHASE OF A LADDER FIRE-FIGHTING TRUCK FOR THE VESTAL FIRE DISTRICT IN THE TOWN OF VESTAL, BROOME COUNTY, NEW YORK, AT A MAXIMUM ESTIMATED COST OF $970,000, AND AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $970,000 SERIAL BONDS OF SAID FIRE DISTRICT TO PAY THE COST THEREOF", duly adopted by the Board of Fire Commissioners of said Fire District on the 20th day of December, 2017, be approved?

                                           *  *  *  *  *  *  *  *  *  *
Pursuant to subdivision 4 of Section 179 of the Town Law, every elector of the Town who shall be a registered voter of such Town and who shall have resided in the Fire District for the period of thirty days next preceding the election which is the subject of this notice shall be qualified to vote upon such proposition.

Dated:  Vestal, New York,

January 10, 2018.

BY ORDER OF THE BOARD OF FIRE COMMISSIONERS OF VESTAL FIRE DISTRICT IN THE TOWN OF VESTAL, BROOME COUNTY, NEW YORK

Emil Bielecki, Fire District Secretary