Town Board authorized bonds for stormwater mitigation improvements up to $250,000.

SUFFOLK COUNTY

LEGAL NOTICE



TOWN OF SOUTHOLD, NY




PLEASE TAKE NOTICE that on March 24, 2026, the Town Board of the Town of Southold, in the County of Suffolk, New York, adopted a bond resolution entitled:




“Bond Resolution of the Town of Southold, New York, adopted March 24, 2026, authorizing the issuance of bonds in a principal amount not to exceed $250,000 to finance the construction of stormwater mitigation improvements, including purchase of stormwater control materials and supplies, stating the estimated maximum cost thereof is $250,000 and appropriating said amount for such purpose,”




an abstract of which bond resolution concisely stating the purpose and effect thereof, being as follows:




FIRST: AUTHORIZING the Town of Southold, New York to issue bonds in a principal amount not to exceed $250,000 pursuant to the Local Finance Law of the State of New York, to finance the construction of stormwater mitigation improvements, including purchase of stormwater control materials and supplies;

SECOND: STATING that the estimated maximum cost thereof, including preliminary costs and costs incidental thereto and the financing thereof, is $250,000; appropriating said amount for such purpose; and STATING that the plan of financing includes the issuance of bonds in a principal amount not to exceed $250,000 to finance said appropriation, and the levy and collection of taxes on all the taxable real property in the Town to pay the principal of said bonds and the interest thereon as the same shall become due and payable;

THIRD: DETERMINING and STATING that the period of probable usefulness applicable to the object or purpose for which said bonds are authorized to be issued is forty (40) years; the proceeds of said bonds and any bond anticipation notes issued in anticipation thereof may be applied to reimburse the Town for expenditures made after the effective date of this bond resolution for the purposes for which said bonds are authorized; and the proposed maturity of said bonds will exceed five (5) years;

FOURTH: DETERMINING that said bonds and any bond anticipation notes issued in anticipation of said bonds and the renewals of said bond anticipation notes shall be general obligations of the Town; and PLEDGING to their payment the faith and credit of the Town;

FIFTH: DELEGATING to the Supervisor the powers and duties as to the issuance of said bonds and any bond anticipation notes issued in anticipation of said bonds, or the renewals thereof;

SIXTH: STATING the conditions under which the validity of the bonds and any notes issued in anticipation thereof may be contested; and

SEVENTH: DETERMINING that the bond resolution is subject to a permissive referendum.




DATED: March 24, 2026

Denis Noncarrow, Town Clerk