The resolution, a summary of which is published herewith, has been adopted on the 9th day of January, 2018, 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 Town of Smithtown, in the County of Suffolk, 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.
BOND RESOLUTION OF THE TOWN OF SMITHTOWN, NEW YORK, ADOPTED JANUARY 9, 2018, APPROPRIATING $2,317,000 FOR THE INCREASE AND IMPROVEMENT OF FACILITIES OF THE ST. JAMES WATER DISTRICT, AND AUTHORIZING THE ISSUANCE OF BONDS IN THE PRINCIPAL AMOUNT OF NOT TO EXCEED $2,317,000 TO FINANCE SAID APPROPRIATION
The object or purpose for which the bonds are authorized is the increase and improvement of facilities of the District, consisting of the installation of approximately 8,700 feet of new replacement water main, replacement of hydrants, transfer of approximately 155 water services to the new water main, in-place abandonment of the existing main, connection of the new main to existing mains, trench restoration, asphalt restoration and any ancillary or related work required in connection therewith.
The maximum amount of obligations authorized to be issued is $2,317,000.
The period of probable usefulness of the object or purpose for which the bonds are authorized, is forty (40) years.
A complete copy of the Bond Resolution summarized above shall be available for public inspection during normal business hours at the office of the Town Clerk, Town Hall, 99 West Main Street, Smithtown, New York.
Dated: January 9, 2018
BY ORDER OF THE TOWN BOARD
OF THE TOWN OF SMITHTOWN
January 9, 2018