NOTICE OF ADOPTION OF RESOLUTION SUBJECT TO PERMISSIVE REFERENDUM NOTICE IS HEREBY GIVEN that all regular meeting held on the 16th day of June, 2015,the Board of Trustees of the Village of Stamford, Delaware County, New York duly adopted a resolution, an abstract of which follows, which resolution is subject to a permissive referendum pursuant to Section 36.00 of the Local Finance Law of the State of New York. Said resolution authorizes the issuance and sale of a serial bond or bonds, and a bond anticipation note or notes in anticipation of the issuance and sale of said serial bonds, in an amount not to exceed $3,534,000. The proceeds from the sale of the obligations authorized in said resolution shall be used for the specific purpose of financing certain improvements to the Village's water system, including replacement of approximately 13,000 linear feet of water mains, replacement of the water storage tank and installation of water lines to bring water from the Kelly Well to the water treatment plant. The estimated maximum cost of said purpose is $4,434,000. The Board of Trustees plans to finance a portion of said the cost of said purpose bythe issuance of serial bonds of the Village to the United States Department of Agricultural, Rural Development in an amount not to exceed $3,434,000. The balance of the cost of said purpose shall be paid from a grant from the United States Department of Agriculture, Rural Development in the amount of $750,000 and contributions to be made by the Village in the amount of $150,000. The period of probable usefulness of said purpose is forty (40) years. A copy of the resolution summarized herein is available for public inspection during normal business hours at the office of the Village Clerk located at 84 Main Street in the Village of Stamford, New York. Dated June 16,2015 Nancy D. Milea, CMC Village Clerk Village of Stamford
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