The resolution, a summary of which is published herewith, has been adopted on September 3, 2019, and the validity of the obligations authorized by such resolution may be hereafter contested only if such obligations were authorized for an object or purpose for which the County of Putnam, New York, is not authorized to expend money or if the provisions of law which should have been complied with as of the date of publication of this Notice were not substantially complied with, and an action, suit or proceeding contesting such validity is commenced within twenty days after the publication of this Notice, or such obligations were authorized in violation of the provisions of the constitution.
REFUNDING BOND RESOLUTION OF THE COUNTY OF PUTNAM, NEW YORK, ADOPTED SEPTEMBER 3, 2019, AUTHORIZING THE REFUNDING OF CERTAIN OUTSTANDING SERIAL BONDS OF SAID COUNTY, STATING THE PLAN OF REFUNDING, APPROPRIATING AN AMOUNT NOT TO EXCEED $3,500,000 FOR SUCH PURPOSE, AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $3,500,000 REFUNDING BONDS TO FINANCE SAID APPROPRIATION, AND MAKING CERTAIN OTHER DETERMINATIONS RELATIVE THERETO.
Object or purpose: refunding of all or a portion of currently outstanding Bonds of the County issued in 2008, 2009 and 2011.
Period of probable
usefulness: various between five (5) and thirty (30) years, commencing on the date of original issuance of the first note or bond issued for the purposes for which the outstanding bonds were issued.
to be issued: not to exceed $3,500,000
A complete copy of the refunding bond resolution summarized above shall be available for public inspection during normal business hours at the office of the Clerk of the Putnam County Legislature, 40 Gleneida Avenue, Carmel, New York
Dated: September 3, 2019
Carmel, New York