NOTICE OF BOND RESOLUTION TOWN OF BATAVIA

 

NOTICE OF BOND RESOLUTION

TOWN OF BATAVIA

NOTICE IS HEREBY GIVEN that a bond resolution, a summary of which is published herewith, has been adopted by the Town Board of the Town of Batavia, County of Genesee, New York (the "Town"), on June 20, 2012 and the validity of the obligations authorized by such resolution may be hereafter contested only if:

(1) (a) such obligations were authorized for an object or purpose for which the Town of Batavia is not authorized to expend money or

(b) 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

(2) such obligations were authorized in violation of the provisions of the Constitution of New York.

SUMMARY OF BOND RESOLUTION

The following is a summary of a bond resolution adopted by the Town Board of the Town of Batavia (the "Town") on June 20, 2012. The proceeds from the sale of the obligations authorized in said resolution shall be used to finance a certain capital improvements project designated as the West Main Street Road Sewer District in the Town and the construction of improvements therein, generally consisting of the construction and installation of approximately 11,350 linear feet of new eight (8) inch diameter sanitary sewer gravity main and approximately 3,600 linear feet of new six (6) inch sanitary sewer force main to run starting on West Main Street Road and connecting to the west boundary of current Sewer District No. 2, and thence running westerly along West Main Street Road for approximately 10,300 feet, and also running northerly along Kelsey Road from its intersection with West Main Street Road for a distance of approximately 1,200 feet, together with all relating right-of-way costs, site work and other ancillary work, apparatus and other improvements and costs incidental thereto for the foregoing purpose, at an estimated maximum amount of $2,822,000. Said bond 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 $2,822,000, said amount to be offset by any federal, state, county and/or local funds received including, but not limited to, a CDBG grant and other grants totaling approximately $1,600,000. The period of probable usefulness for said purpose is 40 years. A copy of the resolution summarized herein is available for public inspection during normal business hours at the Office of the Town Clerk, located in the Town Hall, 3833 West Main Street Road, Batavia, New York.