RESOLUTION NO. 334
REFUNDING BOND RESOLUTION OF THE COUNTY OF ALBANY, NEW YORK, ADOPTED SEPTEMBER 14, 2026, AUTHORIZING THE REFUNDING OF CERTAIN OUTSTANDING BONDS OF SAID COUNTY, STATING THE PLAN OF REFUNDING, APPROPRIATING AN AMOUNT NOT TO EXCEED $5,850,000 FOR SUCH PURPOSE, AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $5,850,000 REFUNDING BONDS TO FINANCE SAID APPROPRIATION, AND MAKING CERTAIN OTHER DETERMINATIONS RELATIVE THERETO
Introduced: 9/14/26
By Audit and Finance Committee:
Recitals
WHEREAS, On September 24, 2019, the County of Albany, New York (herein called the “County”), issued its $72,440,000 Various Purposes Serial Bonds-2019 Series A (the “2019 Bonds”), pursuant to the various bond resolutions duly adopted by the County Legislature on their respective dates; and
WHEREAS, The 2019 Bonds mature on September 15 in the years and in the principal amounts and bear interest payable semiannually on March 15 and September 15 in each year to maturity, as follows:
Year of
Maturity
Principal
Amount
Interest
Rate
2026
$3,295,000
5.00%
2027
3,460,000
5.00
2028
3,635,000
2.00
2029
3,705,000
2.00
2030
3,780,000
2.00
2031
3,855,000
2.00
2032
3,935,000
2.00
2033
4,010,000
2.00
2034
4,095,000
2-1/8
2035
4,180,000
2.25
2036
4,275,000
2.25
2037
4,370,000
2-3/8
2038
4,475,000
2.50
2039
4,585,000
2.50
WHEREAS, The 2019 Bonds maturing on or after September 15, 2028 are subject to redemption prior to maturity, at the option of the County, on any date on or after September 15, 2027, in whole or in part, and if in part in any order of their maturity and in any amount within a maturity (selected by lot within a maturity), at the redemption price equal to the principal amount of the 2019 Bonds to be redeemed, plus accrued interest to the date of redemption; and
WHEREAS, A portion of the proceeds of the 2019 Bonds were used to finance improvements to the Times Union Center (currently known as the MVP Aren...
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