NOTICE IS HEREBY GIVEN that the resolution published herewith has been adopted by the Town Board of the Town of Bethlehem, on the 24th day of August, 2016 and the validity of the obligations authorized by such resolution may be hereafter contested only if:
(1) (a) such obligations were authorized for an object or purpose for which the Town is not authorized to expend money or
(b) 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
(2) such obligations were authorized in violation of the provisions of the Constitution of the State of New York.
Dated: August 24, 2016 /s/_Nanci Moquin_
SUMMARY OF RESOLUTION
The following is a summary of a resolution adopted by the Town Board of the Town of Bethlehem, Albany County, New York (the “Town”) on August 24, 2016. Said resolution authorizes the issuance of refunding serial bonds (the “Refunding Bonds”) and sale of the Refunding Bonds in an amount not to exceed $7,500,000. The proceeds from the sale of the Refunding Bonds shall be used for the specific purpose of refunding certain serial bonds of the Town issued in 2009 (the “Prior Bonds”). The Refunding Bonds are being issued in accordance with the terms of a refunding financial plan (the “Refunding Financial Plan”) prepared for the Town.
Information regarding the Prior Bonds is described as follows:
Period of Probable Usefulness
$7,958,000 original aggregate principal amount Public Improvement (Serial) Bonds, 2009
Elm Avenue Pool Improvement
Sewer Pump Station Improvements
Sewer Fund/Water Fund Projects
Copies of the resolution summarized herein and the Refunding Financial Plan are available for public inspection during normal business hours at the Office of the Town Clerk, Town of Bethlehem, New York.