City of Newburgh
EXTRACT OF MINUTES
Meeting of the City Council of the
City of Newburgh, in the
County of Orange, New York
July 22, 2024
A regular meeting of the City Council of the City of Newburgh, in the County of Orange, New York, was held at the City Hall, Newburgh, New York, on July 22, 2024, at 7:00 o'clock P.M. (Prevailing Time).
There were present: Hon. Torrance Harvey, Mayor; and Councilpersons: Mclymore, Monteverde, Shakur, Sklarz, Sofokles
There were absent: Martinez
Also present: Lorene Vitek, City Clerk
Councilmember Sofokles offered the following resolution and moved its adoption:
RESOLUTION NO. 1372024
OF
JULY 22, 2024
BOND RESOLUTION OF THE CITY OF NEWBURGH, NEW
YORK, ADOPTED JULY 22, 2024, AUTHORIZING THE CONSTRUCTION OF THE NEW DELANO-HITCH RECREATION PARK AQUATIC CENTER, STATING THE ESTIMATED MAXIMUM COST THEREOF IS $15,426,744, APPROPRIATING SAID AMOUNT FOR SUCH PURPOSE, INCLUDING $7,426,744 IN FUNDS OF THE CITY AVAILABLE FOR SUCH PURPOSE, AND AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $8,000,000 BONDS OF SAID CITY TO FINANCE THE BALANCE OF SAID APPROPRIATION
RECITALS
WHEREAS, the City Council of the City of Newburgh, in the County of Orange, New York (herein called the "City") recognizes the need for the construction of the new Delano-Hitch Recreation Park Aquatic Center (the "Project"); and
WHEREAS, to date the City has paid from available funds certain preliminary costs totaling $1,263,000 associated with the Project, including the cost of preliminary design plans and specifications and site preparation, and will not seek to reimburse such prior expenditures from the proceeds of the bonds herein authorized; and
WHEREAS, the City Council has given due consideration to the impact the Project may have on the environment and has complied in every respect with the requirements of the State Environmental Quality Review Act (SEQRA), constituting Article 8 of the Environmental Conservation Law with respect thereto; a copy of Resolution 1082023, adopted by the City Council on June 12, 2023, is on file with the City Clerk.
THE CITY COUNCIL OF THE CITY OF NEWBURGH, IN THE COUNTY OF ORANGE, NEW YORK, HEREBY RESOLVES (by the favorable vote of not less than two-thirds of all the members of said City Council) AS FOLLOWS:
Section 1. The City of Newburgh, in the County of Orange, New York (herein called the "City"), is hereby authorized to construct the new Delano-Hitch Recreation Park Aquatic Center, consisting of (i) a 9,100 square foot splash pad area, (ii) a 78ft x 50ft pool with ADA compliant entry ramp, (iii) a 5,500 square foot ADA compliant poolhouse with reception area, changing rooms, bathrooms, showers, concession stand, security office, first aid room, and mechanical room, (iv) a 14,000 square foot stamped and dyed concrete pool deck with lounge chairs, shade structures and tables, and (v) site landscaping, site lighting and a new parking lot (the "Project"). The estimated maximum cost of the Project, including preliminary costs and costs incidental thereto and to the financing thereof, is $15,426,744 and said amount is hereby appropriated for such purpose, including $7,426,744 in funds of the City available therefor. The plan of financing includes the expenditure of said available funds in the amount of $7,426,744 to pay a part of said appropriation, the issuance not to exceed $8,000,000 bonds of the City, and any bond anticipation notes issued in anticipation of the sale of such bonds, to finance the balance of said appropriation, and the levy and collection of taxes on all the taxable real property in the City to pay the principal of and interest on said bonds and notes. Any grant monies received or expected to be received by the City from the United States of America, the State of New York or from any other source are hereby authorized to be expended towards the cost of the Project or redemption of the bonds or notes issued therefor or to be budgeted as an offset to the taxes to be levied and collected for the payment of such principal and interest.
Section 2. Bonds of the City in the principal amount of not to exceed $8,000,000 are hereby authorized to be issued pursuant to the provisions of the Local Finance Law, constituting Chapter 33a of the Consolidated Laws of the State of New York (herein called "Law"), to finance a part of the appropriation referred to herein.
Section 3. The period of probable usefulness applicable to the specific object or purpose for which said bonds are authorized to be issued, within the limitations of Section 11.00 a. 61 of the Law, is twenty (20) years.
Section 4. The proceeds of the bonds herein authorized and any bond anticipation notes issued in anticipation of said bonds may be applied to reimburse the City for expenditures made after the effective date of this resolution for the purpose or purposes for which said bonds are authorized. The foregoing statement of intent with respect to reimbursement is made in conformity with Treasury Regulation Section 1.1502 of the United States Treasury Department.
Section 5. Each of the bonds authorized by this resolution and any bond anticipation notes issued in anticipation of the sale of said bonds shall contain the recital of validity as prescribed by Section 52.00 of the Law and said bonds and any notes issued in anticipation of said bonds shall be general obligations of the City, payable as to both principal and interest by general tax upon all the taxable real property within the City. The faith and credit of the City are hereby irrevocably pledged to the punctual payment of the principal of and interest on said bonds and any notes issued in anticipation of the sale of said bonds and provision shall be made annually in the budget of the City by appropriation for (a) the amortization and redemption of the bonds and any notes in anticipation thereof to mature in such year and (b) the payment of interest to be due and payable in such year.
Section 6. Subject to the provisions of this resolution and of the Law and pursuant to the provisions of Section 21.00 relative to the authorization of the issuance of bonds with substantially level or declining annual debt service, Section 30.00 relative to the authorization of the issuance of bond anticipation notes and Section 50.00 and Sections 56.00 to 60.00 and 168.00 of the Law, the powers and duties of the City Council relative to authorizing bond anticipation notes and prescribing the terms, form and contents and as to the sale and issuance of the bonds herein authorized and of any bond anticipation notes issued in anticipation of said bonds, and the renewals of said bond anticipation notes, and relative to executing agreements for credit enhancement, are hereby delegated to the Director of Finance, the chief fiscal officer of the City.
Section 7. Pursuant to the provisions of section 16 of Chapter 223 of the New York Laws of 2010, the City is authorized to include in this resolution the following pledge and agreement of the State of New York (herein called the "State") contained in said Section 16: "The state does hereby pledge to and agree with the holders of any bonds, notes or other obligations issued by the city during the effective period of this act and secured by such a pledge that the state will not limit, alter or impair the rights hereby vested in the city to fulfill the terms of any agreements made with such holders pursuant to this act, or in any way impair the rights and remedies of such holders or the security for such bonds, notes or other obligations until such bonds, notes or other obligations together with the interest thereon and all costs and expenses in connection with any action or proceeding by or on behalf of such holders, are fully
paid and discharged."
Section 8. The validity of the bonds authorized by this resolution, and of any notes issued in anticipation of the sale of said bonds, may be contested only if:
(a) such obligations are authorized for an object or purpose for which the City is not authorized to expend money, or
(b) the provisions of law which should be complied with at the date of the publication of such resolution or a summary hereof, are not substantially complied with,
and an action, suit or proceeding contesting such validity is commenced within twenty days after the date of such publication, or
(c) such obligations are authorized in violation of the provisions of the
constitution.
Section 9. This Bond Resolution shall take effect immediately, and the City Clerk is hereby authorized and directed to publish the foregoing resolution, in summary, together with a Notice attached in substantially the form prescribed by