Resolution adopted for municipal water system reconstruction funding.

LEGAL NOTICE

NOTICE IS HEREBY GIVEN that the resolution published herewith has been adopted by the Village Board of the Village of Ballston Spa, Saratoga County, New York, on the 26th day of January, 2026, 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 said Village 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 date of publication of this notice, or such obligations were authorized in violation of the provisions of the Constitution.

DATED: Ballston Spa, New York

January 26, 2026 Rebecca Little

Village Clerk/Deputy-Village Treasurer

SERIAL BOND RESOLUTION DATED JANUARY 26, 2026

A RESOLUTION AUTHORIZING $600,000 FOR THE RECONSTRUCTION OF THE MUNICIPAL WATER SYSTEM INCLUDING REMOVAL AND REPLACEMENT OF THREE PUMPS WITH CONTROLLERS OWNED BY THE VILLAGE OF BALLSTON SPA AND INTERFACING WITH THE WATER SYSTEM LOCATED AT THE OLDE MILL PUMP STATION PURSUANT TO THE INTERMUNICIPAL AGREEMENT BETWEEN THE VILLAGE OF BALLSTON SPA AND TOWN OF MILTON.

WHEREAS, on January 26, 2026 the Board of Trustees of the Village of Ballston Spa desires to authorize the reconstruction of the municipal water system including removal and replacement of three pumps with controllers owned by the Village of Ballston Spa and interfacing with the water system located at the Olde Mill Pump Station pursuant to the Intermunicipal Agreement between the Village of Ballston Spa and the Town of Milton at a cost up to $600,000 and the issuance of serial bonds of the Village of Ballston Spa, Saratoga County, New York, or so much thereof as may be necessary is to be paid from the proceeds of the obligations issued pursuant to the Local Finance Law,

NOW, THEREFORE, BE IT RESOLVED:

 1.  The Board of Trustees of the Village of Ballston Spa, Saratoga County, New York, hereby authorizes the reconstruction of the municipal water system including removal and replacement of three pumps with controllers owned by the Village of Ballston Spa and interfacing with the water system located at the Olde Mill Pump Station pursuant to the Intermunicipal Agreement between the Village of Ballston Spa and the Town of Milton at an amount not to exceed $600,000.
 2.  The specific object or purpose for which obligations are to be issued pursuant to the resolution is for the reconstruction of the municipal water system including removal and replacement of three pumps with controllers owned by the Village of Ballston Spa and interfacing with the water system located at the Olde Mill Pump Station pursuant to the Intermunicipal Agreement between the Village of Ballston Spa and the Town of Milton
 3.  The current maximum cost of the aforesaid specific object or purpose of this resolution is $600,000, and the plan for the financing thereof is to serial bonds of said Village pursuant to the Local Finance Law up to $600,000. Such bonds are to be payable from amounts which shall annually be levied on all the taxable real property in said Village, and the faith and credit of said Village of Ballston Spa, Saratoga County, New York, are hereby pledged for the payment of said bonds and the interest thereon.
 4.  It is hereby determined that the period of probable usefulness of the aforesaid specific object or purpose is forty (40) years, pursuant to subdivision a1 of Section 11.00 of the Local Finance Law.
 5.  Subject to the provisions of the Local Finance Law, the power to authorize the issuance of and to sell bonds or 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 Mayor of the Board of the Village of Ballston Spa, the chief fiscal officer, or in his absence, the Village Clerk, who is the substituted chief fiscal officer. Such bonds or notes shall be of such terms, form and contents, and shall be sold in such manner, as may be determined by said Mayor or Village Clerk, pursuant to and consistent with the provisions of the Local Finance Law.
 6.  This resolution is subject to a permissive referendum pursuant to Section 36 of the Local Finance Law and Article 9 of the Village Law of the State of New York.
 7.  The reasonably expected source of funds that may be used to initially pay the expenditures authorized by Section 1 of this resolution prior to the date of issuance of the financing may be the Village’s General Fund. If so, it is intended that the Village shall then reimburse such expenditures up to a maximum of amount of $600,000 with the proceeds of the bonds and/or the bond anticipation notes authorized by this resolution and that the interest payable on the bonds and any bond anticipation notes issued in anticipation of the bonds shall be excludable from gross income for federal income tax purposes. This resolution is intended to constitute the declaration of the Village’s “official intent” to reimburse the expenditures authorized by this resolution with the proceeds of the bonds and/or the bond anticipation notes authorized herein.
 8.  The Village hereby authorizes the repayment of the serial bonds and/or the bond anticipation notes authorized by this resolution with level debt service or compliance with the fifty percent rule.
 9.  The validity of such bonds and bond anticipation notes may be contested only if: a. Such obligations are authorized for an object or purpose for which said Board of Trustees, is not authorized to spend money; or b. The provisions of law which should be complied with as of 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 (20) days after the date of such publication; or c. Such obligations are authorized in violation of the provisions of the Constitution.
 10. This notice and resolution shall be published in full within ten (10) days after its adoption in the Schenectady Daily Gazette, the official newspaper of the Village, for such purpose. This resolution shall take effect thirty (30) days after its adoption and thereafter shall be published in full in the official newspaper of the Village together with a notice of the Village Clerk substantially in the form provided in Section 81.00 of the Local Finance Law.