DRAFT MEETING MINUTES OF THE TOWN BOARD
OF THE TOWN OF
SARATOGA
�12 SPRING ST., SCHUYLERVILLE,
December 9, 2019
Supervisor Thomas Wood opened the meeting with the Pledge of Allegiance
at
Roll call: Town Clerk Linda McCabe, called
the roll: �Supervisor Thomas Wood -
present, Councilman Charles Hanehan - present, Councilman Michael McLoughlin � present,
Councilman James Jennings � present, Councilman Gary Squires � absent.
Also
present: Building
Inspector/Zoning Officer Gil Albert, Highway Superintendent Don Ormsby, Deputy
Clerk Michelle Conover, Attorney William Reynolds and Terri Korb.� (sign in sheet on file in the Clerk's office)
Recognitions/Presentations/ Bid openings/ Public Hearings:
Approval of Minutes: A motion was made by Councilman
James
Jennings, seconded by Councilman Charles Hanehan, to accept the November 7, 2019
regular meeting minutes, as written. ��Supervisor Thomas Wood - aye, Councilman
Charles Hanehan � aye, Councilman Michael McLoughlin � aye, Councilman James
Jennings � aye, Councilman Gary Squires � absent. �Carried
�4 � 0��
Town
Clerk�s report for November 2019: Fees paid to the NYS Dept. of Agriculture and Markets for the Animal
Population Control Program -
$41.00.� Fees paid to New York
D.E.C. for hunting and fishing licenses - $360.94. Fees paid to the New York State Health Department for Marriage
licenses - $22.50. �Dog license fees to
Supervisor Thomas Wood - $195.00. Miscellaneous Clerk fees to Supervisor Thomas Wood - $58.56.� Total State and Local
Revenues received - $678.00.
Zoning
Officer�s report for November
2019: 17 Building Permits were issued, 29 Building Inspections, 5 Certificate/s of Occupancy, 0 Junkyard Permit/s, 1Complaint/s, 0 Fire inspection, 1 Order/s to Remedy, 4 misc., 3 Building Permit Renewals, 0 Property Maintenance Inspection.� A check for $6,087.00 was given to Supervisor Thomas Wood.�
Dog Control Officer's report for November 2019: Supervisor Thomas Wood read the following report: �Dog Control Officer Ed Cross answered 15 complaints, took 0 dog/s to the shelter, traveled 80 miles, issued 7 warnings, 3 summons were issued and dealt
with 0 bite case/s.�
Town Court report for November: 2019: Supervisor Thomas Wood
read the following report: Funds collected for the month of November 2019
- �$3,450.50.
Historian�s report for November
2019: No report
Assessor�s
report for November 2019: No report
Highway
Superintendent�s report for November 2019:�
v
Completed mowing
for the season
v
Addressed road
potholes and cleared limbs at ditches
v
Replaced plugged
culvert on Dodd Rd.
v
Placed light rock
at a road slide on Hanehan Rd., will address in spring
v
Cut back trees
and brush at corner of Casey Rd. and Rte 32 for sight issue
v
Road signs were
installed on Schuyler Hill Dr. and
v
Replaced rear
shocks and steer tires on Truck 2
v
Changed air tanks
and tires on Truck 3
v
Replaced plow
cable and put new tires on Truck 1
v
Changed filters
and fluids on Trucks 3, 5 and 6
v
Installed plow
frames, wings, screens and spinners on trucks
v
Paver tires were
replaced by Vanvorst tire
v
Truck 4 has been
inspected
v
Fixed plow motor
on Victory Mills truck
v
Sent one man to
Schuylerville for leaf pick up for a day
v
Used boom truck
and two men to hang Christmas lights for Schuylerville
v
Plowed 3 storms
Supervisor�s
report: �
SUPERVISOR�S REPORT NOVEMBER 2019
����������������� GENERAL FUND � TOWNWIDE (A FUND)
�
���������������� Balance on hand 11/01/2019������ ������ �$ ��983,782.33
����������������� Revenues����������������������� �������� ����������� ��+� ��90,324.26
����������������� Disbursements�������������������� ��������������� ���-� ��86,992.54
����������������� Balance 11/30/2019��������������� ������ ������$ ��987,114.05
�����������������
����������������� GENERAL FUND � OUTSIDE VILLAGE (B FUND)
����������������� Balance on hand 11/01/2019���������� �� �$1,915,300.96
����������������� Revenues���������������������������� ��� ����������� �+� �113,484.00
����������������� Disbursements���������������� ������������������� �-�� �����8,525.62
����������������� Balance 11/30/2019���������������� ���������� �$2,020,259.34
����������������� HIGHWAY FUND � OUTSIDE VILLAGE (DB FUND)
����������������� Balance on hand 11/01/2019����������� ����$�� 784,623.84
����������������� Revenues������������������ ������������� ��������������+ �����������56.04
����������������� Disbursements���������������� ������������������� ���- ��143,588.43
����������������� Balance 11/301/2019���������������������� �� ��$ ��605,091.45
�����������������
SCHUYLER PARK CAPITAL PROJECT 11/30/2019������������������ $ 160,148.24
YOUTH RECREATION & SERVICE� 11/30/2019����������� ������������$�
���3,828.05
HIGHWAY EQUIPMENT RESERVE� 11/30/2019 ���������������������� ������������$ 102,067.41
BUILDING RESERVE� 11/30/2019�������������������� ��������������� ������������$ 292,697.27
�����������������
TRUST & AGENCY 11/30/2019����� ���� ������ ������������������������ �����������$� �30,023.17
HOME IMPROVEMENT GRANT 2 �11/30/2019�������������������������
$� ������113.49
(holding checks until funds are deposited)
����������������������������������������������������������������������������������������������������������������������� ��� ������� �����������������������������������������������
HISTORIC HUDSON HOOSICK RIVER 11/30/2019�������������� ��������$� ��15,092.39
PARTNERSHIP
PROPERTY TAX CAP RESERVE 11/30/2019����������������������� ������ $��
���1,310.19
CDBG PROJECT 11/30/2019��������������������������������������������������� ������ $�
�(26,354.00)
SCENIC BY WAYS QRTRLY� 11/30/2019�
��������������������������������� $��� �����311.57
PARKS RESERVE� 11/30/2019������� ��� ������� ����������������������������������� $
�356,956.55
PROPERTY TAX CAP RESERVE 11/30/2019������������������������������ $�� ���1,310.19�
v Sales Tax Received � November 2019 - $113,292.00
v Mortgage
Tax - October 2019
- $14,203.50
Public comments on Agenda Items:
Committee
reports:
Landfill: No report
�
Insurance: Resolution #19-123 - Renewal of the MVP Gold
Retiree Insurance under new business.
Youth: No report
Next Meeting: December 16,
2019 - Year end meeting with a roast pork dinner for $7.00 - please RSVP.� Members are encouraged to invite guests and
the program subject will be Being Green & Helping the Environment.
Parks/Schuyler Park Committee: No report
Office of Emergency Management: No report
QSFD,
WEMS Inc. Reports:
Quaker Springs Fire Department - Assistant Fire
Chief Don Ormsby reported they have had 98 calls to date for 2019.�
Wilton EMS, Inc. - Nashua Alexander sent in a report
which stated they had 21 calls for the Town of Saratoga, 12 calls for the
Village of Schuylerville and 3 calls for the Village of Victory.
Old Business:
�����������
New
Business:
On a motion made by Councilman
Michael McLoughlin and seconded by Councilman James Jennings, the following Resolution #19-114, Supporting the proposed Victory Mill Development, was
adopted by vote: Supervisor Thomas
Wood - aye, Councilman Michael McLoughlin � aye, Councilman Charles Hanehan � aye,
Councilman James Jennings � aye, Councilman Gary Squires � absent.�
Carried� 4 � 0
����������� WHEREAS, the Victory Mill last operated as Victory Specialty
Packaging, closing in 2000 and the Mill site has been vacant ever since then;
and
����������� WHEREAS, the Mill is falling into a
state of disrepair and if not acted upon shortly, will be beyond restoration;
and
����������� WHEREAS, the Mill is on the National
Register of Historic Places; and
����������� WHEREAS, the Mill has been an
integral part of the life and history of the Village of Victory; and
����������� WHEREAS, the Village of Victory will
be enhanced by the restoration of the Mill; and
����������� WHEREAS, there is a need for affordable housing in the Town of
Saratoga; and
����������� WHEREAS, this housing will be best
located in a Village setting; now, therefore, be it
����������� RESOLVED, that the Town Board, of
the Town of Saratoga, supports the proposed Victory Mill Development Project by
Larry Regan of Regan Development Corporation, conditional upon no
financial burden put upon the Village of Schuylerville residents for water and
sewage infrastructure and operating costs created and/or under the control of
the Victory Mill Development project.
On a motion made by Councilman
Charles Hanehan and seconded by Councilman James Jennings, the following Resolution #19-123, Authorization to change Health Insurance Plan to MVP
Gold HMO-POS 2020 - HG170022/RHG0218X, was adopted by vote: Supervisor Thomas Wood - aye, Councilman Michael
McLoughlin � aye, Councilman Charles Hanehan � aye, Councilman James Jennings �
aye, Councilman Gary Squires � absent.�
Carried� 4 � 0
WHEREAS, on an annual basis the Town Board of the Town of
Saratoga enters into an insurance contract to provide health insurance coverage
for eligible employees; and
WHEREAS, the Town Board has reviewed proposals for a contract
to commence January 1, 2020 - December 31, 2020 for Retirees over 65 years of
age; now, therefore, be it
����������� RESOLVED, that the Town Supervisor
is authorized to sign a contract for health insurance benefits with MVP
Preferred Gold HMO-POS 2020 - HG170022/RHG0218X, at a monthly premium of $268.51 per person, per month.���������
� �
On a motion made by Councilman
Charles Hanehan and seconded by Councilman Michael McLoughlin, the following Resolution #19-124, Acceptance of Resignation - BAR Member Ruth Drumm, was
adopted by vote: Supervisor Thomas
Wood - aye, Councilman Michael McLoughlin � aye, Councilman Charles Hanehan � aye,
Councilman James Jennings � aye, Councilman Gary Squires � absent.�
Carried� 4 � 0
WHEREAS,
Ruth Drumm was a duly elected
Member of the Town Board at the November 5, 2019 General Election and will
begin her term of office on January 1, 2020; now, therefore, be it
RESOLVED,
by the Town Board of the Town of
Saratoga, to accept the resignation of�
Ruth Drumm from the B.A.R, effective immediately.
On a motion made by Councilman
Michael McLoughlin and seconded by Councilman James Jennings, the following Resolution #19-125, Authorizing the establishment of a permanent
Agricultural Advisory Committee, was adopted by vote: Supervisor Thomas Wood - aye, Councilman Michael
McLoughlin � aye, Councilman Charles Hanehan � aye, Councilman James Jennings �
aye, Councilman Gary Squires � absent.�
Carried� 4 � 0
����������� WHEREAS, the Town of Saratoga completed and approved the
Agriculture and Farmland Protection Plan in December 2018; and
����������� WHEREAS, the Plan calls for the
establishment of a permanent Agricultural Advisory Committee that will provide
the needed support to the agriculture community, resolve any right-to-farm law
disputes and assist in carrying out agricultural protection initiatives; now,
therefore, be it
����������� RESOLVED, that the Town Board, of
the Town of Saratoga, appoint Philip Hanehan, Christopher Koval and W. Michael Schwerd to the Town of Saratoga
Agricultural Advisory Committee.
On a motion made by Councilman
Charles Hanehan and seconded by Councilman James Jennings, the following Resolution #19-126, Fund Transfer - $10,000.00 from DB5112.4 Highway
Improvements, to DB5142.4 Highway Snow & Miscellaneous, was adopted by vote:
Supervisor Thomas Wood - aye,
Councilman Michael McLoughlin � aye, Councilman Charles Hanehan � aye,
Councilman James Jennings � aye, Councilman Gary Squires � absent.�
Carried� 4 � 0
����������� RESOLVED,
by the Town Board of the Town of
Saratoga to transfer $10,000.00 from
DB5112.4 Highway Improvements, to DB5142.4-Highway Snow & Miscellaneous, to
cover expenses through year end.
On a motion made by Councilman
Michael McLoughlin and seconded by Councilman Charles Hanehan, the following Resolution #19-127, Fund Transfer - $8,000.00 from DB5110.1 Highway
Repairs, to DB9010.8 Highway Employee Benefits, was adopted by vote: Supervisor Thomas Wood - aye, Councilman Michael
McLoughlin � aye, Councilman Charles Hanehan � aye, Councilman James Jennings �
aye, Councilman Gary Squires � absent.�
Carried� 4 � 0
����������� RESOLVED,
by the Town Board of the Town of
Saratoga to transfer $8,000.00 from DB5110.1
Repairs, to DB9010.8 Employee Benefits State Retirement, to cover expenses
through year end.
On a motion made by Councilman
James Jennings and seconded by Councilman Charles Hanehan, the following Resolution #19-128, Fund Transfer - $2,000.00 from A9050.8 Employee
Benefits Unemployment, to A9010.8 Employee Benefits State Retirement, was
adopted by vote: Supervisor Thomas
Wood - aye, Councilman Michael McLoughlin � aye, Councilman Charles Hanehan � aye,
Councilman James Jennings � aye, Councilman Gary Squires � absent.�
Carried� 4 � 0
����������� RESOLVED,
by the Town Board of the Town of
Saratoga to transfer $2,000.00 from A9050.8
Employee Benefits Unemployment, to A9010.8 Employee Benefits State Retirement,
to cover expenses through year end.
On a motion made by Councilman
Charles Hanehan and seconded by Councilman Michael McLoughlin, the following Resolution #19-129, Fund Transfer - $25,000.00 from A1990.4 Contingency to
A1620.4 Buildings Contractual, to A1355.4 Assessor Contractual, was adopted by
vote: Supervisor Thomas Wood - aye,
Councilman Michael McLoughlin � aye, Councilman Charles Hanehan � aye,
Councilman James Jennings � aye, Councilman Gary Squires � absent.�
Carried� 4 � 0
����������� RESOLVED,
by the Town Board of the Town of
Saratoga to transfer $25,000.00 from
A1990.4 Contingency to A1620.4 Buildings, to cover HVAC expenses.
On a motion made by Councilman
James Jennings and seconded by Councilman Charles Hanehan, the following Resolution #19-130, Fund Transfer - $400.00 from A1620.1 Building Personal
Services, to A1355.4 Assessor Contractual, was adopted by vote: Supervisor Thomas Wood - aye, Councilman Michael
McLoughlin � aye, Councilman Charles Hanehan � aye, Councilman James Jennings �
aye, Councilman Gary Squires � absent.�
Carried� 4 � 0
����������� RESOLVED,
by the Town Board of the Town of
Saratoga to transfer $400.00 from A1620.1
Buildings Personal Services, to A1355.4 Assessor, to cover expenses through
year end.
On a motion made by Councilman
Charles Hanehan and seconded by Councilman Michael McLoughlin, the following Resolution #19-131, Fund Transfer - $4,500.00 from A1990.4 Contingency, to
A1355.11 Assessor Clerk, was adopted by vote: Supervisor Thomas Wood - aye, Councilman Michael
McLoughlin � aye, Councilman Charles Hanehan � aye, Councilman James Jennings �
aye, Councilman Gary Squires � absent.�
Carried� 4 � 0
����������� RESOLVED,
by the Town Board of the Town of
Saratoga to transfer $4,500.00 from A1990.4
Contingency, to A1355.11 Assessor Clerk, to cover payroll for Clerk through
year end.
On a motion made by Councilman
Michael McLoughlin and seconded by Councilman James Jennings, the following Resolution #19-132, Fund Transfer - $1,000.00 from A1620.1 Building
Personal Services, to A1320.4 Independent Auditing & Accounting, was
adopted by vote: Supervisor Thomas
Wood - aye, Councilman Michael McLoughlin � aye, Councilman Charles Hanehan � aye,
Councilman James Jennings � aye, Councilman Gary Squires � absent.�
Carried� 4 � 0
����������� RESOLVED,
by the Town Board of the Town of
Saratoga to transfer $1,000.00 from A1620.1
Building Personal Services, to A1320.4 Independent Auditing & Accounting,
to cover expenses through year end.
On a motion made by Councilman
Charles Hanehan and seconded by Councilman Michael McLoughlin, the following Resolution #19-133, Fund Transfer - $2,000.00 from A3650.4 Demolition of
Unsafe Buildings, to A1320.4 Independent Auditing & Accounting, was adopted by vote: Supervisor Thomas Wood - aye, Councilman Michael
McLoughlin � aye, Councilman Charles Hanehan � aye, Councilman James Jennings �
aye, Councilman Gary Squires � absent.
Carried� 4 � 0
����������� RESOLVED,
by the Town Board of the Town of
Saratoga to transfer $2,000.00 from A3650.4
Demolition of Unsafe Buildings, to A1320.4 Independent Auditing &
Accounting, to cover expenses through year end.
On a motion made by Councilman
Charles Hanehan and seconded by Councilman James Jennings , the following Resolution #19-134, Fund Transfer - $1,000.00 from A1220.1 Supervisor
Personal Services, to A1220.4 Supervisor Contractual, was adopted by vote: Supervisor
Thomas Wood - aye, Councilman Michael McLoughlin � aye, Councilman Charles
Hanehan � aye, Councilman James Jennings � aye, Councilman Gary Squires �
absent.�
Carried� 4 � 0
����������� RESOLVED,
by the Town Board of the Town of
Saratoga to transfer $1,000.00 from A1220.1
Supervisor Personal Services, to A1220.4 Supervisor, to cover expenses through
year end.
�����������
On a motion made by Councilman
Charles Hanehan and seconded by Councilman Michael McLoughlin, the following Resolution #19-135, Fund Transfer - $1,000.00 from A1680.4 Data
Processing, to A1680.2 Data Processing Equipment, was adopted by vote: Supervisor
Thomas Wood - aye, Councilman Michael McLoughlin � aye, Councilman Charles
Hanehan � aye, Councilman James Jennings � aye, Councilman Gary Squires � absent.�
Carried� 4 � 0
��������������� RESOLVED, by
the Town Board of the Town of Saratoga to transfer $1,000.00 from A1680.4 Data Processing, to A1680.2 Data Processing
Equipment, to cover expenses through year end.
On a motion by Councilman Michael
McLoughlin , seconded by Councilman James Jennings, the following Resolution #19-136, Public Improvement
Refunding (Serial) Bond, was adopted by vote: Supervisor Thomas Wood - aye, Councilman Michael
McLoughlin � aye, Councilman Charles Hanehan � aye, Councilman James Jennings �
aye, Councilman Gary Squires � absent.�
Carried 4 � 0
WHEREAS, the Town of Saratoga, Saratoga County, New York (hereinafter, the �Town�) heretofore issued $2,932,600 Public Improvement (Serial) Bonds. 2008 Series A, dated August 15, 2008, pursuant to a duly authorized bond resolution dated May 12, 2008 authorizing said serial bonds for the acquisition of a parcel of land and the building located thereon for use as a Town Hall, and a bond determinations certificate of the Supervisor (hereinafter referred to as the �Refunded Bond Certificate�), such Public Improvement (Serial) Bonds. 2008 Series A, now outstanding in the amount of $1,615,000, maturing on August 15 annually in each of the years 2020 to 2028, both inclusive, as more fully described in the Refunded Bond Certificate; and
WHEREAS, it would be in the public interest to refund all or a portion of the $1,615,000 outstanding principal balance of said bonds maturing in the years 2020 to 2028, both inclusive (the �Refunded Bonds�) by the issuance of refunding bonds pursuant to Section 90.00 or Section 90.10 of the Local Finance Law; and
WHEREAS, such refunding will result in present value savings in debt service as so required by Section 90.10 of the Local Finance Law; NOW, THEREFORE, BE IT
RESOLVED, by the Town Board of the Town of Saratoga, Saratoga County, New York, as follows:
Section 1.������� For the object or purpose of refunding the $1,615,000 outstanding principal balance of the Refunded Bonds, including providing moneys which, together with the interest earned from the investment of certain of the proceeds of the refunding bonds herein authorized, shall be sufficient to pay (i) the principal amount of the Refunded Bonds, (ii) the aggregate amount of un-matured interest payable on the Refunded Bonds to and including the date on which the Refunded Bonds which are callable are to be called prior to their respective maturities in accordance with the refunding financial plan, as hereinafter defined, (iii) the costs and expenses incidental to the issuance of the refunding bonds herein authorized, including the development of the refunding financial plan, as hereinafter defined, compensation to the underwriter or underwriters, as hereinafter defined, costs and expenses of executing and performing the terms and conditions of the escrow contract or contracts, as hereinafter defined, and fees and charges of the escrow holder or holders, as hereinafter mentioned, (iv) the redemption premium payable on the Refunded Bonds, and (v) the premium or premiums for a policy or policies of municipal bond insurance or cost or costs of other credit enhancement facility or facilities, for the refunding bonds herein authorized, or any portion thereof, there are hereby authorized to be issued not exceeding $1,750,000 refunding serial bonds of the Town pursuant to the provisions of Section 90.00 or Section 90.10 of the Local Finance Law (the �Town Refunding Bonds� or the �Refunding Bonds�), it being anticipated that the amount of Refunding Bonds actually to be issued will be approximately $1,500,000, as provided in Section 4 hereof.� The Town Refunding Bonds shall each be designated substantially �PUBLIC IMPROVEMENT REFUNDING (SERIAL) BOND� together with such series designation and year as is appropriate on the date of sale thereof, shall be of the denomination of $5,000 or any integral multiple thereof (except for any odd denominations, if necessary) not exceeding the principal amount of each respective maturity, shall be numbered with the prefix R-20 (or R with the last two digits of the year in which the Refunding Bonds are issued as appropriate) followed by a dash and then from 1 upward, shall be dated on such dates, and shall mature annually on such dates in such years, bearing interest semi-annually on such dates, at the rate or rates of interest per annum, as may be necessary to sell the same, all as shall be determined by the Supervisor pursuant to Section 4 hereof.� It is hereby further determined that (a) such Refunding Bonds may be issued in series, (b) such Refunding Bonds may be sold at a discount in the manner authorized by paragraph e of Section 57.00 of the Local Finance Law and pursuant to subdivision 2 of paragraph f of Section 90.10 of the Local Finance Law, and (c) such Refunding Bonds may be issued as a single consolidated issue.� It is hereby further determined that such Refunding Bonds may be issued to refund all, or any portion of, the Refunded Bonds, subject to the limitation hereinafter described in Section 10 hereof relating to approval by the State Comptroller.
Section 2.������� The Refunding Bonds may be subject to redemption prior to maturity upon such terms as the Supervisor shall prescribe, which terms shall be in compliance with the requirements of Section 53.00 (b) of the Local Finance Law.� If less than all of the Refunding Bonds of any maturity are to be redeemed, the particular refunding bonds of such maturity to be redeemed shall be selected by the Town by lot in any customary manner of selection as determined by the Supervisor.
The Refunding Bonds shall be issued in registered form and shall not be registerable to bearer or convertible into bearer coupon form.� In the event said Refunding Bonds are issued in non‑certificated form, such bonds, when issued, shall be initially issued in registered form in denominations such that one bond shall be issued for each maturity of bonds and shall be registered in the name of Cede & Co., as nominee of The Depository Trust Company, New York, New York (�DTC�), which will act as securities depository for the bonds in accordance with the Book‑Entry‑Only system of DTC.� In the event that either DTC shall discontinue the
Book‑Entry‑Only system or the Town shall terminate its participation in such Book‑Entry‑Only system, such bonds shall thereafter be issued in certificated form of the denomination of $5,000 each or any integral multiple thereof (except for any odd denominations, if necessary) not exceeding the principal amount of each respective maturity.� In the case of non‑certificated Refunding Bonds, principal of and interest on the bonds shall be payable by check or draft mailed by the Fiscal Agent (as hereinafter defined) to The Depository Trust Company, New York, New York, or to its nominee, Cede & Co., while the bonds are registered in the name of Cede & Co. in accordance with such Book‑Entry‑Only System.� Principal shall only be payable upon surrender of the bonds at the principal corporate trust office of such Fiscal Agent (or at the office of the Town Clerk as Fiscal Agent as hereinafter provided).
In the event said Refunding Bonds are issued in certificated form, principal of and interest on the Refunding Bonds shall be payable by check or draft mailed by the Fiscal Agent (as hereinafter defined) to the registered owners of the Refunding Bonds as shown on the registration books of the Town maintained by the Fiscal Agent (as hereinafter defined), as of the close of business on the fifteenth day of the calendar month or last business day of the calendar month preceding each interest payment date as appropriate and as provided in a certificate of the Supervisor providing for the details of the Refunding Bonds.� Principal shall only be payable upon surrender of bonds at the principal corporate trust office of a bank or trust company or banks or trust companies located or authorized to do business in the State of New York, as shall hereafter be designated by the Supervisor as fiscal agent of the Town for the Refunding Bonds (collectively the �Fiscal Agent�).
Refunding Bonds in certificated form may be transferred or exchanged at any time prior to maturity at the principal corporate trust office of the Fiscal Agent for bonds of the same maturity of any authorized denomination or denominations in the same aggregate principal amount.
Principal and interest on the Refunding Bonds will be payable in lawful money of the United States of America.
The Supervisor, as chief fiscal officer of the Town, is hereby authorized and directed to enter into an agreement or agreements containing such terms and conditions as he or she shall deem proper with the Fiscal Agent, for the purpose of having such bank or trust company or banks or trust companies act, in connection with the Refunding Bonds, as the Fiscal Agent for said Town, to perform the services described in Section 70.00 of the Local Finance Law, and to execute such agreement or agreements on behalf of the Town, regardless of whether the Refunding Bonds are initially issued in certificated or non‑certificated form; provided, however, that the Supervisor is also hereby authorized to name the Town Clerk as the Fiscal Agent in connection with the Refunding Bonds.
The Supervisor is hereby further delegated all powers of this Town Board with respect to agreements for credit enhancement, derived from and pursuant to Section 168.00 of the Local Finance Law, for said Refunding Bonds, including, but not limited to the determination of the provider of such credit enhancement facility or facilities and the terms and contents of any agreement or agreements related thereto.
The Refunding Bonds shall be executed in the name of the Town by the manual or facsimile signature of the Supervisor, and a facsimile of its corporate seal shall be imprinted thereon.� In the event of facsimile signature, the Refunding Bonds shall be authenticated by the manual signature of an authorized officer or employee of the Fiscal Agent.� The Refunding Bonds shall contain the recital required by subdivision 4 of paragraph g of Section 90.00 of the Local Finance Law or subdivision 4 of paragraph j of Section 90.10 of the Local Finance Law, as applicable, and 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 Supervisor shall determine.� It is hereby determined that it is to the financial advantage of the Town not to impose and collect from registered owners of the Refunding Bonds any charges for mailing, shipping and insuring bonds transferred or exchanged by the Fiscal Agent, and, accordingly, pursuant to paragraph c of Section 70.00 of the Local Finance Law, no such charges shall be so collected by the Fiscal Agent.
Section 3.������� It is hereby determined that:
(a)������� the maximum amount of the Refunding Bonds authorized to be issued pursuant to this resolution does not exceed the limitation imposed by subdivision 1 of paragraph b of Section 90.10 of the Local Finance Law;
(b)������� the maximum period of probable usefulness permitted by law at the time of the issuance of the Refunded Bonds, for the objects or purposes financed by the Refunded Bonds, pursuant to paragraph a of Section 11.00 of the Local Finance Law, is as described in Exhibit A attached hereto and hereby made a part hereof;
(c)������� the last installment of the Refunding Bonds will mature not later than the expiration of the period of probable usefulness of the objects or purposes for which said Refunded Bonds were issued in accordance with the provisions of subdivision 1 of paragraph a of Section 90.00 of the Local Finance Law subdivision 1 of paragraph c of Section 90.10 of the Local Finance Law, as applicable;
(d)������ the estimated present value of the total debt service savings anticipated as a result of the issuance of the Refunding Bonds, if any, computed in accordance with the provisions of subdivision 2 of paragraph b of Section 90.10 of the Local Finance Law, is as shown in the Refunding Financial Plan described in Section 4 hereof.
Section 4.������� The financial plan for the aggregate of the refunding authorized by this resolution (collectively, the �Refunding Financial Plan�), showing the sources and amounts of all moneys required to accomplish such refunding, the estimated present value of the total debt service savings and the basis for the computation of the aforesaid estimated present value of total debt service savings, are set forth in Exhibit B attached hereto and hereby made a part hereof.� The Refunding Financial Plan has been prepared based upon the assumption that the Refunding Bonds will be issued in one series to refund all of the Refunded Bonds in the principal amount of $1,500,000, and that the Refunding Bonds will mature, be of such terms, and bear interest as set forth in said Exhibit B.� This Town Board recognizes that the Refunding Bonds may be issued in one or more series, and for all of the Refunded Bonds, or portions thereof, that the amount of the Refunding Bonds, maturities, terms, and interest rate or rates borne by the Refunding Bonds to be issued by the Town will most probably be different from such assumptions and that the Refunding Financial Plan will also most probably be different from that attached hereto as Exhibit B.� The Supervisor is hereby authorized and directed to determine which of the Refunded Bonds will be refunded and at what time, the amount of the Refunding Bonds to be issued, the date or dates of such bonds and the date or dates of issue, maturities and terms thereof, the provisions relating to the redemption of Refunding Bonds prior to maturity, whether the Refunding Bonds will be insured by a policy or policies of municipal bond insurance or otherwise enhanced by a credit enhancement facility or facilities, whether the Refunding Bonds shall be sold at a discount in the manner authorized by paragraph e of Section 57.00 of the Local Finance Law, and the rate or rates of interest to be borne thereby, whether the Refunding Bonds shall be issued having substantially level or declining annual debt service and all matters related thereto, and to prepare, or cause to be provided, a final Refunding Financial Plan for the Refunding Bonds and all powers in connection therewith are hereby delegated to the Supervisor; provided, that the terms of the Refunding Bonds to be issued, including the rate or rates of interest borne thereby, shall comply with the requirements of Section 90.00 or Section 90.10 of the Local Finance Law as applicable.� The Supervisor shall file a copy of his certificate determining the details of the Refunding Bonds and the final Refunding Financial Plan with the Town Clerk not later than ten (10) days after the delivery of the Refunding Bonds, as herein provided.
Section 5.������� The Supervisor is hereby authorized and directed to enter into an escrow contract or contracts (collectively the �Escrow Contract�) with a bank or trust company, or with banks or trust companies, located and authorized to do business in this State as said Supervisor shall designate (collectively the �Escrow Holder�) for the purpose of having the Escrow Holder act, in connection with the Refunding Bonds, as the escrow holder to perform the services described in Section 90.10 of the Local Finance Law.
Section 6.������� The faith and credit of said Town of Saratoga, Saratoga County, New York, are hereby irrevocably pledged to the payment of the principal of and interest on the Refunding 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.� To the extent not paid from other sources, there shall be annually levied on all the taxable real property in said Town a tax sufficient to pay the principal of and interest on such Refunding Bonds as the same become due and payable.
Section 7.������� All of the proceeds from the sale of the Refunding Bonds, including the premium, if any, but excluding accrued interest thereon, shall immediately upon receipt thereof be placed in escrow with the Escrow Holder for the Refunded Bonds.� Accrued interest on the Refunding Bonds shall be paid to the Town to be expended to pay interest on the Refunding Bonds.� Such proceeds as are deposited in the escrow deposit fund to be created and established pursuant to the Escrow Contract, whether in the form of cash or investments, or both, inclusive of any interest earned from the investment thereof, shall be irrevocably committed and pledged to the payment of the principal of and interest on the Refunded Bonds in accordance with Section 90.10 of the Local Finance Law, and the holders, from time to time, of the Refunded Bonds shall have a lien upon such moneys held by the Escrow Holder.� Such pledge and lien shall become valid and binding upon the issuance of the Refunding Bonds and the moneys and investments held by the Escrow Holder for the Refunded Bonds in the escrow deposit fund shall immediately be subject thereto without any further act.� Such pledge and lien shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the Town irrespective of whether such parties have notice thereof.
Section 8.������� Notwithstanding any other provision of this resolution, so long as any of the Refunding Bonds shall be outstanding, the Town shall not use, or permit the use of, any proceeds from the sale of the Refunding Bonds in any manner which would cause the Refunding Bonds to be an �arbitrage bond� as defined in Section 148 of the Internal Revenue Code of 1986, as amended, and, to the extent applicable, the Regulations promulgated by the United States Treasury Department thereunder.
Section 9.������� In accordance with the provisions of Section 53.00 and of paragraph h of Section 90.10 of the Local Finance Law, in the event such bonds are refunded, the Town hereby elects to call in and redeem each of the Refunded Bonds which the Supervisor shall determine to be refunded in accordance with the provisions of Section 4 hereof and with regard to which the right of early redemption exists.� The sum to be paid therefore on such redemption date shall be the par value thereof, and the accrued interest to such redemption date.� The Escrow Agent for the Refunding Bonds is hereby authorized and directed to cause notice of such call for redemption to be given in the name of the Town in the manner and within the times provided in the Refunded Bond Certificate.� Such notice of redemption shall be in substantially the form attached to the Escrow Contract.� Upon the issuance of the Refunding Bonds, the election to call in and redeem the callable Refunded Bonds and the direction to the Escrow Agent to cause notice thereof to be given as provided in this paragraph shall become irrevocable, provided that this paragraph may be amended from time to time as may be necessary in order to comply with the publication requirements of paragraph a of Section 53.00 of the Local Finance Law, or any successor law thereto.
Section 10.����� The Refunding Bonds shall be sold at public competitive sale or at private sale to Roosevelt & Cross Incorporated (the �Underwriter�) for purchase prices to be determined by the Supervisor, plus accrued interest from the date or dates of the Refunding Bonds to the date or dates of the delivery of and payment for the Refunding Bonds.� Subject to the approval of the terms and conditions of such private sale by the State Comptroller as may be required by subdivision 2 of paragraph f of Section 90.10 of the Local Finance Law, the Supervisor is hereby authorized to execute and deliver a purchase contract for the Refunding Bonds in the name and on behalf of the Town providing the terms and conditions for the sale and delivery of the Refunding Bonds to the Underwriter if sold at private sale.� After the Refunding Bonds have been duly executed, they shall be delivered by the Supervisor to the purchaser or to the underwriter in accordance with said purchase contract upon the receipt by the Town of said the purchase price, including accrued interest.
Section 11.����� The Supervisor and all other officers, employees and agents of the Town are hereby authorized and directed for and on behalf of the Town to execute and deliver all certificates and other documents, perform all acts and do all things required or contemplated to be executed, performed or done by this resolution or any document or agreement approved hereby.
Section 12.����� All other matters pertaining to the terms and issuance of the Refunding Bonds shall be determined by the Supervisor and all powers in connection thereof are hereby delegated to the Supervisor.� The Supervisor shall be further authorized to issue said Refunding Bonds pursuant to Section 90.00 or Section 90.10 of the Local Finance Law as said officer shall determine necessary.
Section 13.����� The validity of the Refunding Bonds may be contested only if:
1.�������� Such obligations are authorized for an object or purpose for which said Town 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 twenty days after the date of such publication, or
3.�������� Such obligations are authorized in violation of the provisions of the Constitution.
Section 14.����� A summary of this resolution, which takes effect immediately, shall be published in the official newspapers of said Town, together with a notice of the Town Clerk in substantially the form provided in Section 81.00 of the Local Finance Law.
Dated:��� December 9, 2019.� �
certification
STATE OF NEW YORK������ )
����������������������������������������������� )� ss.:
COUNTY OF SARATOGA� )
I, the undersigned Clerk of the Town of Saratoga, Saratoga County, New York (the �Issuer�), DO HEREBY CERTIFY:
1)�������� That a meeting of the Issuer was duly called, held and conducted on the 9th day of December, 2019.
2)�������� That such meeting was a regular meeting.
3)�������� That
attached hereto is a proceeding of the Issuer which was duly adopted at such
meeting by the Board of the Issuer.
4)�������� That
such attachment constitutes a true and correct copy of the entirety of such
proceeding as so adopted by said Board.
5)�������� That
all members of the Board of the Issuer had due notice of said meeting.
6)�������� That
said meeting was open to the general public in accordance with Section 103 of
the Public Officers Law, commonly referred to as the �Open Meetings Law�.
7)�������� That
notice of said meeting (the meeting at which the proceeding was adopted) was
given PRIOR THERETO in the following manner:
PUBLICATION:
�Saratogian, December 4, 2019 and Post Star, December 4, 2019
POSTING:� Town
Clerk's bulletin board, December 4, 2019
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the Issuer
this 10 day of December, 2019.
����������������������������������������������������������������������� __________________________________________
�(CORPORATE SEAL)�������������������������� ����������� � ��������� ����Town Clerk
����������������������������������������������������������� ��� ������� �����
EXHIBIT A
$2,932,600 Public Improvement
(Serial) Bonds, 2008 Series A
Objects or Purposes and Period
of Probable Usefulness
Acquisition of land and building
thereon for use as Town Hall.� Specific
object or purpose.� Period of probable
usefulness:� 25 years pursuant to
subdivisions 11(b) of Section 11.00 of the Local Finance Law (combined
with subdivision 21(a) thereof pursuant to subdivision 93 thereof), computed
from August 15, 2008, the date of the first obligations issued therefore for
the object or purpose to be refinanced by the refunding bonds herein
authorized.� Bond resolution adoption
date:� May 12, 2008.
EXHIBIT B
PRELIMINARY REFUNDING FINANCIAL
PLAN
TOWN OF SARATOGA,
����������������������������������� SARATOGA
COUNTY, NEW YORK
������������������ (Exhibit
B is on file in the Clerk's office)
Privilege
of the floor: Terri Korb addressed the Board.
Communications:
Supervisor Thomas Wood gave a sincere gratitude of thanks to Councilman
Charles Hanehan for his 16 years of serving on the Town Board, adding he also
served on the Zoning Board of Appeals, the Comprehensive Plan, Farmland
Protection Plan and other committees over the years.� He is smart, reliable and tells it like it
is; he pulls no punches.� You always know
where he stands on issues and he always has the rationale for his beliefs.� He has been an invaluable member of the Board
and will be greatly missed.�
Councilman Charles Hanehan thanked Supervisor Thomas
Wood for the opportunity of serving on the Board and leaves it in good hands.
Upcoming
meetings:
v
Town Board End of Year Audit Meeting - Monday,
December 30, 2019 at 11:00 a.m.
v
Town Board Agenda Meeting - Thursday, January
9, 2020 at 7 :00 p.m.
v Regular
Town Board meeting - Monday, January 13, 2020 at 7:00 p.m.
�
Audit the Bills:
On a motion by Councilman James Jennings seconded by Councilman Charles Hanehan,
the following Resolution #19-137,
Approving the Payment of Bills in Abstract 12G of 2019, was adopted by vote:
Supervisor Thomas Wood - aye, Councilman Michael McLoughlin � aye, Councilman
Charles Hanehan � aye, Councilman James Jennings � aye, Councilman Gary Squires
� absent.�
Carried 4 - 0
RESOLVED,
by the Town Board of the Town of
Saratoga to authorize payment of the bills listed in Abstract 12G of 2019 in the following amounts:
����������� General
Fund DB ��������������������������� ����������� ����������� $�
78,410.91
����������� General
Fund A������������������������������������������������������� $� 53,715.88
����������� General
Fund B������� ����������� ����������������������������������� $� 14,120.83
����������� Schuyler
Park����������������������������������������������������������� $��� 2,017.30
����������� Historic
Hudson Hoosic Partnership���������������������� $��� 1,308.61
����������� CDBG����������������������������������������������������������������������������������� $� 39,499.95
� ��������� ����������� ��������Grand Total �����$ 189,073.48
�
A motion to adjourn at 8:22 p.m. was made by
Councilman Charles Hanehan, seconded by Councilman James Jennings. �Supervisor
Thomas Wood - aye, Councilman Charles Hanehan � aye, Councilman Michael
McLoughlin � aye, Councilman James Jennings � aye, Councilman Gary Squires � absent.
��
Carried �4 - 0
Meeting Adjourned
Respectfully Submitted,
Linda A. McCabe
Town Clerk