Bond Resolutions

VILLAGE OF NYACK, NEW YORK

PLEASE TAKE NOTICE that on April 10, 2025, the Board of Trustees of the Village of Nyack, in the County of Rockland, New York, adopted a resolution further amending the bond resolution adopted by said Board of Trustees on August  25, 2022 and heretofore amended on May 9, as amended, is entitled:

“Bond Resolution of the Village of Nyack, New York, adopted August 25, 2022, amended May 9, 2024 and further amended April 10, 2025, authorizing the issuance of bonds in a principal amount not to exceed $8,000,000 to finance the construction of improvements to the Village  water system, stating the estimated maximum cost thereof is $8,000,000 and appropriating said amount for such purpose,”

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

FIRST:  AUTHORIZING the Village of Nyack, New York to issue bonds in a principal amount not to exceed $8,000,000 pursuant to the Local Finance Law of the State of New York, to finance the construction of PFAS/PFOA Treatment at the Nyack Water Plant as described in the report prepared for the Village by H2M architects & engineers;

SECOND:  STATING that the estimated maximum cost thereof, including preliminary costs and costs incidental thereto and the financing thereof, is $8,000,000; 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 $8,000,000 to finance said appropriation, and the collection of water fees from users based metered usage and, to the extent necessary if the amount of water fees collected is insufficient, the levy and collection of taxes on all the taxable real property in the Village to pay the principal of said bonds and the interest thereon as the same shall become due and payable; STATING that any funds received from grants and/or other sources are authorized to be applied toward the cost of said project or redemption of the Village’s bonds or notes issued therefor, or to be budgeted as an offset to the taxes to be collected for the payment of the principal of and interest on said bonds or notes;

THIRD:  DETERMINING and STATING that (a) the period of probable usefulness of the object or purpose for which the bonds are authorized is forty (40) years; (b) the proceeds of the bonds herein authorized and any bond anticipation notes issued in anticipation of said bonds may be applied to reimburse the Village for expenditures made after the effective date of this resolution for the purpose for which said bonds are authorized; and (c) 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 Village; and PLEDGING to their payment the faith and credit of the Village;

FIFTH:  DELEGATING to the Village Treasurer 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; and

SIXTH:  STATING the conditions under which the validity of the bonds or notes issued pursuant to the resolution may be contested; and

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

DATED: April 10, 2025

LINDA DONNELLY, Village Clerk